Best Dog Park

If you have dogs and live in the area then you likely know that Short Hills is home to the best “unofficial” dog park.

Mortgage Rate Update

For those of you waiting for house prices to stop falling, read this important update to find out why now is the time to and sell to take advantage of historic lows and housing affordability.

Thursday, October 8, 2009

Quarterly Sales Data Signals a Recovering Real Estate Market

Posted by The Jill Smith Team at 10:03 AM 0 comments
Quarterly statistics for homes going under contract are in for the 3rd quarter and numbers reflect a noticeable increase from not only the previous quarter but also from previous years. "Under contract" sales for the 3rd quarter in Millburn-Short Hills are at their highest since 2005 and Chatham’s 3rd quarter sales are their highest since 2006. Sales in Summit are at their highest since 2003 with 62 single family homes going under contract between July 1 and September 30, 2009.

According to an October 7th article on Reuters.com, mortgage applications are also at their highest since mid-May and mortgage rates are at a 4 month low. With quarterly "under contract" statistics higher than previous years, mortgage applications at a high, mortgage rates at a low and the Dow at a 1-year high the local real estate market is showing strong signs of a recovery. Many potential buyers who have been in a “wait and see” holding pattern may want to take a cue from these financial indicators. As Realtors, we often hear “I want to wait until the market hits its lowest point.” Unfortunately, the market's low point is not evident until the market is on its way back up. Judging by these market indicators, we may very well have passed that low point.

See the quarterly statistics by clicking here.

“US mortgage applications at 4-mth high; rates fall,” Reuters, Julie Haviv, October 7, 2009

TheJillSmithTeam.com

Thursday, October 1, 2009

Weekend Train Service Finally Arrives in Montclair

Posted by The Jill Smith Team at 8:42 AM 0 comments
Beginning Nov. 8, 2009 weekend train service will begin in Montclair, Glen Ridge and Bloomfield. This long awaited schedule addition will occur approximately every 2 hours and bring commuters to Hoboken where they can take the PATH train to Manhattan. Those wishing to take the Midtown Direct directly into the city can change trains at the Newark Broad Street stop. For train schedules visit NJTransit.com. To read the official press release for this new service please click here.
 

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