RealtorIrene Blogs about Sussex County NJ Real Estate

As Sparta may well be Sussex County NJ's most popular real estate, let's take a peek at some solid market data on home sales. While for this report I haven't broken out Lake Mohawk separately, I often do so when working with sellers and buyers in the area.

In fact, I'm trying very hard to find the right, well-priced Lake Mohawk homes for sale for a variety of potential buyers. As these folks are seeking Sussex County vacation properties, their needs are quite different from those looking for a residence! I'm very determined to help each of these buyers find that right lake home in Sparta. But I digress...

I've based the following Sparta NJ market report graphs on GSMLS data: "Info. deemed RELIABLE but not GUARANTEED."

Average price for home sold in Sparta in 2009 was $440,583.

 Reinforcing what I said about Sparta's popularity, the 2009 average sale price for a Sussex County NJ home was $268,762. Now, there are umpteen reasons to explain the big difference. These are best covered face to face.

Copyright © 2010, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Considering selling a home or looking to buy in Sparta or another Sussex County NJ area? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

Given the number of real estate deals on which I'm currently working in Vernon NJ, I thought it would be interesting for both home sellers and buyer to have an overview of 2009 market data for this Sussex County NJ area. The following include the very popular sections of Highland Lakes and Great Gorge Village, as well as the Vernon portion of Scenic Lakes NJ.

Many of my potential home buyers looking in Vernon NJ are seeking vacation properties, either a ski condo or a lake community home. Despite what some think about a lack of lookers during the winter, I'm showing Vernon's well-priced homes for sale without a slowdown! Well-priced being the key to buyer's interest...

I've based the following Vernon NJ market report graphs on GSMLS data: "Info. deemed RELIABLE but not GUARANTEED."

The average price for home sold in Vernon Township in 2009 was $199,654.

Compared to the 2009 average price for Sussex County NJ - $268,762 - Vernon appears to be a huge bargain. Keep in mind, however, that many of the Vernon sales were small condos, hotel units or cabins in lake communities. Makes a big difference, one which I help all my real estate clients understand.

Copyright © 2010, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Considering selling a vacation home or looking to buy a Sussex County NJ getaway property? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right. 

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage.

On Tuesday, December 29, my buyers finally closed on 121 Creek Road - a fabulous 70-acre farm in Pohatcong. The property in Warren County NJ (the Route 78 corridor) consists of an 1800's main home, a barn and a smaller guest cottage. The sale price was $765000.

When I first showed 121 Creek Road in March or April, the list price was $950,000. My buyers' first offer on this Warren County NJ farm for sale was not accepted. In July, I requested and was granted a meeting with the executrix and her 2 listing agents to try to creatively find a meeting of the minds. No such luck.

Despite several interim price reductions, the seller and my buyers were not on the same page. In August, one of the listing agents called me to ask if my buyers were still interested. The seller's bottom line, however, was somewhat less attractive to my buyers at that time. No movement.

Eventually, my buyers opted to make one more stab at this farm in Warren County NJ. We went Under Contract in early October. Lots of problems between then and closing, including septic and well issues. I was able to keep my buyers motivated and with the help of their attorney, we worked through all the unpleasantness! The walkthrough on December 28 disclosed several more problems, ones that were only resolved at the closing table the next morning. (Yes, a sleepless night for many - with my buyers deciding not to even attend the closing.)

I don't know if the husband will ever wear the quilted overalls on which I embroidered his first initial but he sure had a good laugh over my closing gift to him! He and his wife have already begun work on 121 Creek Road, Pohatcong, Warren County NJ!

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Considering selling a home or looking to buy a property - farm or otherwise? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

One couple seeking a vacation or getaway property in a lovely Sussex County NJ lake community are the happy new owners of this great foreclosure in Highland Lakes, Vernon, NJ. Yes, they have lots of painting to do but that doesn't diminish their joy. A Highland Lakes home has been on their dream list for quite a few year.

 There were multiple offers on this Sussex County NJ REO owned by Freddie Mac and lots of question marks. At the time the offers were received, there were no power lines to the home. I was still juggling bids from electricians.  Getting power meant multiple visits from Vernon Township building inspectors.

With electricity, we were able to turn on the well pump.  Oops! All the pipes and the boiler had burst from freezing while the house sat abandoned. Multiple bids later, new boiler was done.  We had the home inspection the day after getting that news. Egads, the boiler ran but didn't heat the Sussex County NJ home. Buyers are now rather nervous...

While we sailed through our fire-safety inspection, Vernon Township won't grant an Certificate of Occupancy while there are still open building permits. Flunked the next Vernon building inspection for lack of an emergency shut off switch on the upper level. Closing was scheduled for Nov. 20 for this Highland Lakes foreclosure; the seller approved funds for the switch on the 17th, electrician installed on the 18th, and Vernon Township accomodated my unreasonable request for an inspection on the 19th.

We closed on time!!!

Bright and early on Monday, Nov. 23, I showed up with a thank you note and freshly-baked loaf of my breakfast bread for the Vernon NJ township employees. Without their great cooperation and attorney Marleen Horlacher's skills and her faith in my getting things done, we never would have closed on Friday.

And the new owners started painting on Saturday!

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage.

12 High Crest Drive in Scenic Lakes, Vernon NJ was a very trying Sussex County real estate deal for the seller, her family and me, her listing agent. Two previous deals had fallen apart. Third time seemed to be a charm, until:

• The well pump died 2 days before the home inspection and installation was finishing as the buyer, his agent and inspector arrived.
• The septic, which had passed thorough inspection a year ago, flunked and required $6,000 in seller repairs on this AS-IS Scenic Lakes home.
• The clock was ticking for the first-time buyer credit and slated to close on Friday, November 20, around 1:00 p.m.
• The lovely elderly lady who owned 12 High Crest Drive in Scenic Lakes and her moving truck had headed in Florida. 

The buyers did their final walk through on Thursday night and decided the attic didn't pass "broom clean" standards because of some unused replacement materials the seller had left. Friday afternoon, their attorney proposed a credit and the deal did not close.

Late Friday, I removed the disputed items via 2 trash bags. Photos were insufficient, so we had another walk through at 11 on Saturday. The attorneys met at 4:00 and closed the deal.

12 High Crest Drive in Scenic Lakes sold for $187,000.

Although I regularly go the extra mile for my Sussex County NJ real estate clients, I'm particularly appreciative of the 2 attorneys doing the same on a sacred Saturday!

This Scenic Lakes listing also resulted in an unexpected compliment, Google Juice for Photos - One of many benefits of my Vacation Properties in Sussex County NJ series.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

This Sparta NJ Real Estate Market Report is based on data recorded in GSMLS as of October 4, 2009. Statistics covering Lake Mohawks home for sale (below) are from the same source. While I don't publish monthly data on all Sussex County NJ homes for sale, I certainly can work it up for you as appropriate!

GSMLS market data for Sparta NJ real estate shows that only 11 homes were sold in September 2009. These had an average sale price of $455,773; the median price was $350,000. For 2009, 11 sales in a month are the second lowest; there were just 8 closings in Sparta in February. Given there are 26 Sparta homes for sale under contract, I'm optimistic that we'll have many more closings during October.

For the 45 new listings of homes for sale in Sparta in September, the average asking price is $524,912. The average list price for homes that went under contract in September is $660,098 - a significant jump aided by 2 very expensive Lake Mohawk properties!

A subset of my Sparta NJ real estate report, Lake Mohawk market data shows just 3 sales, recorded at $337,500, $365,000 and $615,000. During September, we had 9 Lake Mohawk homes for sale go under contract, ranging from just $239,900 up to $3,950,000. (Sure wish I represented the buyer of that big one!) As of the end of September there were still 66 active Lake Mohawk homes for sale.

Start looking at homes for sale in Sparta NJ listed between $350K - $500K.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene.com represents Irene's personal musings.

Considering selling a home or looking to buy real estate in Sussex County NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

On Wednesday, a Franklin NJ Ranch Home for Sale sold for 95% of its list price (the average list-to-sale price ratio for Sussex County NJ real estate). From the date of listing, it was just 56 days to closing. We had 3 offers within the first 12 days, so this listing attracted great interest! The sale price was $171,000 and there were no seller-concessions.

The new owners had visited my Open House and simply had to have this home for sale in Franklin. Wonderful people and well qualified buyers, they had interacted with 6 other real estate agents before thay met me! I am 007!

Even though I represented both sides (a dual-disclosed agent in NJ lingo), both the sellers and buyers knew their interests were well served every step of the way. Sure, there were challenges. The sellers were in Florida, so I handled many aspects for them. We had multiple visits from the fire-safety inspector to get the Certificate of Occupancy. Termite treatment. The well test flunked. Over-chlorination resulted in 2 more tests and then a UV system still had to be installed.

But we got to the closing table as scheduled! Too bad a martini "shaken, not stirred" doesn't appeal to this Agent 007!

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage.

In July 2009, GSMLS market data snapshot for Wantage homes for sale shows that 6 homes sold during the month while 13 went Under Contract.

The least expensive Wantage home sale was a 2 bedroom ranch in Lake Neepaulin, which sold for $173,750.  One home under construction sold for $484,863 - well above the list price but the large difference can be attributed to upgrades selected.  The Median Sale price for homes in Wantage that closed in July was down from the previous month - $245,000.

As for buyers considering homes for sale in Wantage, we still have plenty of choices with 156 MLS listings in Wantage alone. Add Branchville and other adjacent towns - lots of options with Sussex County NJ real estate! 

 Look at homes for sale in Wantage NJ $250,000 - $350,000.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene represents Irene's personal musings.

Selling a home or looking to buy a Sussex County NJ home for sale? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage.

On Friday, June 10, 2009, I had a huge surge. Three different agents called about bringing buyers to one well-priced, short sale listing in Great Gorge Village, Vernon, NJ. Honestly, I hadn't been getting 3 calls a week on that Sussex County ski condo.

That Friday alone, also had inquiries on other Sussex County homes for sale that I have listed, although Friday is typically heavier as agents line up appointments for the weekend. It was far more than usual and calls and showings on my listings have continued to be robust this entire week.

This week, a new potential home seller in Frankford NJ called to set up an appointment for Sunday. He has a minimum price in mind, so I may not be able to assist him. But I will spend the time discussing current trends and how I work to help sellers maximize their return within the realities of a buyer's market.

Picked up a new REO in Highland Lakes -Vernon. Lots to get done before I can begin to market it but this foreclosure is in very good shape. It also has an unobstructed view on the lake - nothing between it and the water. My prediction is that this will be one very hot home for sale!

As for working with home buyers:

Suddenly swamped showing Sussex homes for sale to area renters, all potential first-time buyers. Several couples are ones who had been toying but have just gotten ultra-serious about putting in an offer in the very near future. We have had some recent headlines that stated prices seem to be stabilizing. The $8000 tax credit is getting close to expiry; the uncertainty about its extension or expansion is clearly a factor.

For one couple I've just met, the $8000 first-time home buyer credit (plus the joyous news of expecting their first child!) prompted them to start looking to buy a home - and I'm honored that they chose me to help.

In the week since June 10, I've started working with an out-of-area couple looking for a vacation home in Sussex County NJ. Tomorrow, I will be taking them to see one for the second time and showing them some alternatives within the 2 communities they preferred.

A gentleman called me about one of my listings. He needs a pied-a-terre in this area for work reasons, does not plan to relocate his family. While we have yet to meet, we've chatted multiple times and exchanged many emails. As soon as he has a business trip to the NY area, we'll go find him the right "bachelor quarters."

Now a one-week wild surge in activity doesn't document a shift in the Sussex County real estate market. This anecdotal increase in my business, however, certainly is a welcome addition to the other activity on which I've been working hard. Let's hope it is a sign of a improving real estate conditions!

 This blog post from RealtorIrene.com represents Irene's personal musings. Copyright © 2009, Irene Kennedy, all rights reserved.

In June 2009, GSMLS market data for Wantage shows that only 4 homes sold during the month, but as many more are Under Contract, we can expect a much different picture when the July market data is available. Better news for Wantage home sellers is that the Median Sale price rose from just $164,500 in May to $255,000 in June!

As for buyers considering purchasing a home in Wantage, we still have plenty of choices with 162 MLS listings in Wantage alone. Add Branchville and other adjacent towns - home buyers have lots of option here in Sussex County! 

All this Wantage NJ real estate data on homes for sale has been updated based on June 2009 information. Sometimes earlier months changed. Say a deal on a home for sale that was Under Contract in May fell apart; the UC number dropped and the Active number went up accordingly.

 Start looking at homes for sale in Wantage NJ.

Whether you're considering selling your home or purchasing a home in one of Sussex County's fine communities, this is a better time than many folks think.  Statistics are a useful overview, but to really understand the outlook for your personal real estate goals - let's sit down and chat!

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from www.RealtorIrene.com represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County, NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right or www.HomesIrene.com.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Sussex, Vernon, Wantage. With her vast network, however, Irene Kennedy also can help you find an equally talented real estate agent elsewhere.