RealtorIrene Blogs about Northwestern NJ Real Estate - Hunterdon & Warren: New Jersey: Vernon: Great Gorge Village

Minerals Resort is a lovely and popular vacation spot in Sussex County NJ - about 50 miles from New York City. Even on this off-season weekend, the hotel was fully occupied. The delightful indoor and outdoor pools, spa, fitness center, indoor tennis courts, handball, basketball, sauna and steam room make this a great getaway. Only skiing at Mountain Creek is seasonal! Several of these Vernon NJ condos are for sale.

For information on the optional rental pool that owners may join, see RealtorIrene Blogs about Sussex County NJ Real Estate: Short Sale - Minerals Resort Hotel and Spa - Vernon Vacation or Ski Condo - Income-Producing Sussex County NJ real estate for sale.

Just today following checkout time, I showed a couple from New York City Minerals Resort condos for sale and we wrote up an offer on one! Alas, it is significantly below the list price of $50,000.  Now, remember that there are only two styles of condos. To be in the rental program, each must be in pristine condition and furnished identically. So, we can readily compare apples to apples.

 Over the last 6 months, 2 like Minerals condos sold - $30K and $31K.  As the listing agent for the one currently Under Contract, I can vouch that this sale will be right in line with the others.

 My potential buyers of this Minerals Resort condo are saavy. I showed them this information - also relayed to the listing agent when I called him about our offer.

What would you have offered for an identical Minerals Resort and Hotel condo for sale?

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 NJ getaway property? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

Given the great Sussex County NJ ski season, I'm fielding countless questions from potential buyers of Great Gorge Village condos. Some of these homes for sale are Short Sales or Foreclosures. This neighborhood is nestled at Mountain Creek ski resort - a plus - and located within the same complex as Minerals Resort & Spa, I have a Short Sale listed. No wonder so many folks are considering vacation homes for sale in Sussex County!

Back in April 2009, I posted some Great Gorge Village market data that received many, many views. As my current potential buyers deserve an update, I figured I'd one again share with all! Whether you're working with me or even another real estate agent, I believe you should have up-to-date information upon which to base your decisions.

My data and analysis are based on information from the Garden State MLS system.

As of January 10, 2010:

All Great Gorge Village NJ condo units, regardless of size (studios, 1 bedroom and larger)

• Active homes for sale - 59 units with an average list price of $214,040.
• Under Contract - 5 units with average list price of $185,340.
• Sold/Closed within last 12 months - 33 units. Average list was $140,989 but average sold price $131,977. Means sale price was about 93% of asking price (at time of sale, not original list prices). Same List-Sale ratio as April 2009. Quite a few of these sales were distressed - short sales or foreclosures in Great Gorge Village.

2 beds, 2+ baths - Great Gorge Village Interior & end units, 4 & 5 rooms

• Actives - 36 units with average list price of $177,115.
• Under Contract - 5 units with average list of $185,340
• Sold/Closed within last 12 months - 15 units. Average list $170,786, average sold price $162,503. (94%)

End units only - all shapes & sizes in Great Gorge Village

• Active listings - 17 units, average asking $221,952.
• Under Contract - 2 units, average list $184,450. 
• Sold/Closed within last 12 months - 13 end units. List averaged $155,873; sold $144,742. (93%)

 2010 Sold/Closed in Great Gorge Village

None reported as of 1/10/2010.

CONDOs for Sale Vernon NJ, includes Great Gorge Village

I'd be delighted to help you with your Sussex County NJ real estate needs, so please do not hesitate to contact me!

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? Lots of ski condos and other options are available to you. 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.

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.

This unit sold on May 20 for $30,000.

Update February 8, 2010 - This Minerals Resort condo in Vernon NJ went under contract last week. There are still other vacation properties for sale around Great Gorge Village and Mountain Creek, so let me know if you'd like information about some of the options available to you!

********************** End Update **********************

This pre-foreclosure vacation condo at Minerals Resort Hotel and Spa in Vernon NJ is listed for sale at just $36000.  Minerals Resort is within the Great Gorge Village compound, nestled at the Mountain Creek ski slopes and home of the acclaimed Minerals Golf Course. Sussex County NJ is also a golf paradise with may other local golf courses - Crystal Springs, Ballyowen, Wild Turkey, Great Gorge, Cascades and Black Bear. Street address is 2 Chamonix Drive, Vernon, NJ.

Income Potential through Minerals Resort's optional condo Rental Pool

The current owner shared his rental statistics, which show that his portion of the 2008 rental-pool income more than covered the annual taxes and maintenance fees on this Minerals Hotel vacation property! Based on his 2009 documentation, rentals of this Minerals Resort getaway condo in Vernon NJ appear equally robust this year. Of course, no guarantees can be made about future rentals, the management's apportionment of such income down the line, etc.

Moreover, you could opt not to have your Minerals Resort condo be part of the rental pool at all. Especially as this Vernon hotel-style condo is a Short Sale, you may want to keep every weekend open for you, family, friends, employees, etc. Sussex County NJ is a year-round vacation destination, just about 50 miles from New York City.

Take a peek at my series on Sussex County NJ Vacation Homes & Resort Properties for Sale or just enjoy the video on this Minerals Hotel preforeclosure condo:

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.

Many of my home buyers and sellers around Sussex County NJ will be enjoying a loaf of the Best Bread Ever this holiday season.

Whereas most folks simply want me to deliver a freshly-baked loaf, quite a few have asked for the recipe for this breakfast bread. I haven't forgotten your request that followed my thank-you loaf of bread, Mary from the Vernon Building Department

This is a spectacular recipe to make with young children. Yes, many of the ingredients will disappear long before they hit the pan. Yes, you'll have flour everywhere. While I realized kids would like the process, I was unprepared for the real pride they take in the finished product. 

If you would like the recipe alone, just email me and I'll send you the Word version.

From page 445. "Orange Bread with White Chocolate, Apricots and Walnuts" of the Bread Lover's Bread Machine Cookbook by Beth Hensperger. Special thanks to Rebecca Hansen, Harvard Common Press, for her prompt and positive permission to use this recipe!

Best Bread Ever - Recipe for 2 pound loaf

1 ¾ cups mandarin orange segments, liquid reserved (two 11-ounce cans)

3 tablespoons reserved orange liquid or orange liquor

4 tablespoons unsalted butter, cut into pieces

4 cups bread flour

⅓ cup sugar (Irene sometimes substitutes Splenda  - no noticeable difference)

1 tablespoon gluten

2 teaspoons salt

2 ¼ teaspoons SAF yeast or 2 ¾ teaspoons bread machine yeast (Irene uses 1 tablespoon Red Star Active Yeast)

**********

⅔ cup white chocolate chips

½ cup minced dried apricots (Irene sometime uses mixed dried fruits)

½ cup chopped walnuts (Irene omits for some recipients)

Craisins - Irene adds a handful - about ½ cup

Official Recipe: Add everything above the stars to bread machine. Set crust on medium and program for Basic or Sweet bread, press START. When machine beeps, or between Knead 1 and Knead 2, add the last items. (Irene's cheap machine doesn't beep, so she adds the goodies 10 - 12 minutes into the cycle.)

Irene's Changes: Add everything above the stars but set machine to DOUGH and start. Add goodies below the star at beep/10 minutes later.  When Dough cycle ends, dump in pan. Cover with plastic and let rise for 60 minutes or so. Bake at 365⁰ (use 350⁰ with dark pans) until center reaches 190⁰.  Length of baking varies greatly depending on what pan is used - and whether Irene removes sides of spring-form pan during the baking cycle.  NOTE: This dough will not hold a shape, so really must be baked in a pan.

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

Considering selling a home or looking to buy a Sussex County NJ property? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right. Plus, Irene might just bake you a loaf of the Best Bread Ever once the real estate deal closes...

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.

 July 26 Update - The new owners of this vacation property in Sussex County NJ have finished renovations. They invited me for a peek at their ski condo near Mountian Creek.  Furniture is about to be delivered so the getaway property will be ready for them. At the time of the sale, this room had no sheet rock - floor or ceiling; a sump pump is now hidden in a tiny closet.

The former owners had used this as a mountainous Sussex County getaway property from New York City. Not only did they love the after shots I forwarded, they shared that the proceeds helped make their son's bar mitzvah extra festive!

End of Update

Another Win-Win Real Estate Transaction with one of the Sussex County NJ Vacation Homes!!!

Today I was at a real estate closing in which I represented both the home sellers and the buyers. One of the Great Gorge Village vacation homes in Vernon, NJ; it is a 2 bedroom condo that needed a lot of renovation. Photo of the lower-level family room proves I'm not exagerating about the work! Yet today, there are 2 delighted families. Why? Thank you for asking...

We'll call the buyers Bonnie and Clyde BradyBunch. (The sellers can be Romeo and Juliette Jones.)  The Bradys were referred to me; they wanted a small vacation getaway near Mountain Creek ski slope for weekend use.  At first they were intrigued by my condo-hotel listings in the Appalachian at Mountain Creek and Minerals Hotel and Spa. But with 5 children under the age of 13 and 2 small dogs, the hotels didn't suit their needs.

I showed Bonnie & Clyde several homes listed for sale. They wanted a lower-level unit for child safety reasons. Put in a reasonable offer on one and those sellers did not even counter, despite many months with no previous offers...

The BradyBunch headed to Florida while I went to bat for them. I contacted owners of lower-level condos adjacent to the Mountain Creek ski slope that the Bradys preferred. Two were more than pleased to be "solicited" and sent me keys to take a peek. The Jones family lives in New York City (about 55 miles outside Sussex County NJ) and had not been able to enjoy their condo for the last couple years due to water damage.

Despite condition of Romeo and Juliette's townhouse, I KNEW the BradyBunch would love it. (Clyde just happens to be involved with home improvement!)  Sent photos to Florida and set a time to show the Bradys the end-unit townhouse. All 7 gave it a thumbs up! Lots of trees to climb, a creek to splash in, a fabulous Minerals Resorts with pools and a "cliff" to jump off - plus skiing when the weather changes.

Breaking all the rules, I phoned the Joneses with the Brady's offer, negotiated a deal and then did the paperwork. (Naughty girl!) Closed in less than 30 days. As neither the sellers nor the buyers lived in Sussex County, my sellers readily agreed to a slightly higher commission. In return I:

1. arranged for (but cancelled) estimates from 2 licensed general contractors;
2. installed smoke & carbon monoxide detectors, mounted a fire extinguisher;
3. learned there was an open building permit for the new water heater. Installed a "bond jumper" when it flunked inspection;
4. met Vernon Township officials a total of 4 times to get the required Certificate of Occupancy;
5. scheduled and met 2 HVAC people to get estimates on the air conditioner repair;
6. took a complete photo inventory of the condo contents and sent it to Mrs. Jones so she could decide whether to make a trip to take any personal property. (Deal specified the Bradys would do clean out of whatever the Jones decided to abandon.)

 Four of the five children were in school today, but here are some happy members of the BradyBunch.

Where is my photo of the happy sellers? Not only do I not have a picture of Romeo and Juliette Jones - I have NEVER MET THEM. That is correct; we got their Sussex County vacation property sold long distance.

And what was the price tag for all this? $125,000 - sold As-Is. Yep, an amount that was win-win for both parties but didn't include some mega-commission.

I try to give all those looking to buy a home or to sell any home in Sussex County NJ - vacation properties or not -million dollar Realtor® service - at every price!

Sussex County NJ homes for sale - many potential vacation properties!

Track all the posts in Irene Kennedy's series on vacation homes in Sussex County NJ.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from http://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 http://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.

I'm still ready to help you with your Sussex County NJ real estate questions -

Even if this total surprise still has my head spinning!

Compare this post to my January 2010 update: Great Gorge Village - Early 2010 Snapshot of Real Estate Activity - Vernon NJ. Great vacation homes or residences

Whether you're considering Great Gorge Village condos for vacation homes or permanent residences, the fact that this neighborhood is nestled at Mountain Creek ski resort is always a plus.  Both for year-round and weekend getaway owners, Sussex County NJ is a great choice.

I prepared some statistics on April 16, 2009 for a specific deal, so this focuses more on condos with at least 2 bedrooms and 2 bathrooms.  Thought others might benefit from this overview, based on data from the Garden State MLS system.

I look forward to your questions about Vernon NJ real estate and Sussex County vacation properties!

All Great Gorge Village condo units, regardless of size

• Active listings - 57 units with an average list price of $167,528
• Under Contract - 9 units with average list price of $156,622
• Sold/Closed within last 12 months - 38 units. Average list was $163, 413 but average sold price $152,457.  Means sale price was about 93% of asking price (at time of sale, not original list prices).

 2 beds, 2+ baths - Interior & end units, 4 & 5 rooms

• Active listings - 13 units with average list price of $177,115.
• Under Contract - 3 units with average list of $156,600
• Sold/Closed within last 12 months - 9 units. Average list $159,600, average sold price $151,588. (95%)

End units only - all shapes & sizes in Great Gorge Village

• Active listings - None
• Under Contract - Only 1 and it is 5 room, 2 bed, 2 bath end unit on the lower level. List price $165,000. The MLS indicates it will close June 30 .
• Sold/Closed within last 12 months - 5 units. List averaged $150,940; sold at $140,200. (92%) The only one 5 room, 2 bed, 2 bath end unit on the lower level listed at $155,000 and sold for $145,000; that closed Sept 30, 2008, owners offered to leave all the furniture in place.

2009 Sold/Closed 

3 units. Average list was $146,633, average sold price $138,216 (94%). Various configurations. All happen to be end units.

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