This Week's Featured Listing 4/27/09

This week’s featured listing is a pristine, updated 4 bedroom, 2.1 bath 1905 Queen Victorian located on a quiet, tree lined street in Millburn just a few short blocks to NYC trains, Downtown Millburn and Wyoming School. 47 Chestnut Street is a great house, perfect for a first time home buyer and not to be missed! It is in move-in condition...

Multiple Offers in a Buyer’s Market is Not an Anomaly

The Millburn-Short Hills area is experiencing a buyer’s market for the first time in many years. Area home prices have been on a steady increase since 2000, with a dramatic spike in 2005 and 2006. They have been on a steady, albeit significantly less dramatic, decline since 2007. Prices are, however, expected to stabilize, if not this year, by 2010. Lower housing prices and a large inventory of available homes in all price...

Current Mortgage Rates & Housing Affordability

As the rate of house price declines begins to slow and the cycle nears its end, the math reality of this historic time will become clear and compelling. For those of you waiting for house prices to stop falling consider this:NJ house prices are dropping at a rate of 1/2 % per month, predicted to bottom out in the 2nd half of 2009.Interest...

Unofficially, the Best Unofficial 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. Off of Old Short Hills Road is, conveniently named, Old Short Hills Park. This beautiful park is a bucolic setting for picnics, kite flying, playing catch or reading a book. Adjacent to the park is Greenwood Gardens, a...

Millburn High School Ranks Best in NJ

NJ Monthly Magazine ranked Millburn Public High School number 1 for 2008. Read the complete article below and view all rankings by clicking here. You can also view the State of New Jersey's School Report Card for 2008 by visiting the state's website here.Millburn High School Ranks Best in NJMillburn High School grabs the top spot in the 2008 New Jersey Monthly rankings. Here’s why it’s the state’s best public high school.by...

Millburn-Short Hills 2008 Year End Statistics Review

The real state market in communities along the Morris and Essex train line exploded beginning around 2001. In 2001, the average priced home in Millburn-Short Hills was $738,052 and by 2004 it was $1,065,220, a growth of 31%. In 2005 prices went up an additional 19%, the average home selling for $1,314,908. In 2006, home prices in Millburn-Short Hills rose just 2% but still up 21% from 2004.In 2007 the average sale price fell...