Sue Adler has been the #1 Keller Williams agent in NJ for the past six years, and leads one of the top Keller Williams teams worldwide, with annual production of $62 million in 2010.
Investing in College Town Real Estate Pays Off Big
US News Education Releases Top New Jersey High School Listing – Seven Midtown Direct Community Schools Make the Top 50
US News has just released the top New Jersey High Schools and seven of our Midtown Direct communities have high schools ranked in the Top 50 – that’s an incredible statistic! What an accomplishment and source of pride for our towns.
After all, the quality of the town school system is often a very important deciding factor for most buyers. There are 4 criteria for which the rankings were computed.
- Student/Teacher Ratio
- College Readiness – based on the percentages of 12th graders who tested and passed AP exams. The maximum college readiness index is 100.
- Math – a measure of student performance on this subject of the state exit exam.
- English – a measure of student performance on this subject of the state exit exam.
And, here’s how we placed….
#7 – Chatham High School
#12 – Millburn High School
#19 – Westfield High School
#25 – Summit High School
#29 – Madison High School
#31 – New Providence High School
#32 – Livingston Senior High School
For more information, click here for the entire report. Please contact a member of my team with questions on any of the midtown direct communities. We are always here to help.
Frank Sinatra’s Rat Pack Party Pad for Sale
Frank Sinatra’s former home in Chatsworth, CA is on the market for $12 Million. The home is 40 minutes from Los Angeles and is next to a 3,000 acre nature preserve. The home is remote enough to supposedly been a meeting place for Marilyn Monroe and John F. Kennedy. It was known to be a site of frequent rat pack parties that included Dean Martin and Sammy Davis, Jr. The only way to see the entire 13.5 acre property is by helicopter. The main house is over 10,000 sq. ft. and contains 4 bedrooms and 5.5 baths, a grand gallery and 3 offices. There is also a 1,000 sq. ft. guest house that was reportedly used by Marilyn Monroe in her frequent visits to the estate. The large acreage also contains a vineyard, riding trails and a motor court for over 200 cars.
The home was originally commissioned by Chase Bank heiress Dora Hutchinson, who had many star visit the estate including Ava Gardner and Lucille Ball. The home was designed as a mid-century glass home in an era when most celebrities wanted ranch homes. Hutchinson later leased the home to Sinatra when she returned to New York.
Click here to see a list of LUXURY homes for sale in South Orange, Millburn, Maplewood, Short Hills, Summit, Chatham, Madison and Northern New Jersey listed on SueAdler.com
Best Online Tools to Research Your Home’s Value
Many parts of the U.S. are seeing some stabilization or even price increases to their home values. Some people will even be surprised by home much their values may have increased. According to NAR, the median list price for a home nationally is around $189,000, which is an increase of 5.6% over 2011. Another good sign to the supply side is that inventories are at record lows, and national inventory is down over 20% over previous years. The improvements in the median home prices is very subjective to local markets and conditions.
In Phoenix, where record numbers of homes were lost to foreclosure over the last several years, there has been a rise in the median value to $179,000, a jump of over 20%. On top of that, the inventory of homes for sale is down over 45%. Chicago saw its median price decline by 9%, while the area inventory declined by 10% from the previous year. The bottom line is that the new real estate is about hyper-local markets, and each homeowner or home seller should check out their local market to see what the neighborhood trend is doing.
The best 3 web sites for checking your estimated home values are:
- Zillow.com – check a Zestimate to get a current estimate on what your home is worth. Information specific to your home can be updated on the site too.
- Trulia.com – Trulia has some excellent analysis tool including charts, graphs and heat analysis charts that will show where the sales are occurring in your area. It also has some excellent tools for identifying pricing trends.
- Realtor.com – Realtor.com is the largest real estate web site with listings from over 900 local MLS systems. There is a lot of other helpful articles on everything from refinancing tips to gardening.
There are plenty of sources to get estimates on what a home might be worth, but some are better than others. The three web site discussed in our post are generally accepted as the most useful and accurate sites for estimating home values. The internet may provide some good tools for the informed home buyer or seller, but the best place to get an accurate estimate of your home’s value is speaking with a neighborhood realtor or real estate agent,
Fed Reporting Fewer Loan Mods
Loan giant Freddie Mac is reporting that loan workouts and loan modifications have declined by nearly 50% compared to the same time period in 2011. Loan workouts have dropped to around 14,000 in the first quarter of 2012, compared to nearly 35,000 in the first quarter of 2011. Many experts are saying that this may be an indication that the number of distressed properties on the market may be due for a big decline. The decline is attributed to a drop of seriously delinquent loans by more than 10% compared to last year. Fewer foreclosures for sale would possibly help home values increase and entice more home sellers to put their homes on the market. Foreclosure related sales account for around 25% of the total market in residential sales in 2011.
Freddie Mac also reported a big increase of the number of loans staying current after 2 years from completing a modification to over 60%. A lot of the change is due to the implementation of the Standard Modification on January 1st, which was made mandatory to lenders by the federal government. The over projections indicate that more banks will be using creative work-out options for delinquent homeowners such as loan modifications, forbearance and even mortgage principle write downs. A new federal agreement with banks in February mandated that banks set aside $17 Billion for non-foreclosure option aimed at keeping people in their homes.
CLICK HERE TO SPEAK WITH SUE ADLER ABOUT SHORT SALES AND FORECLOSURE OPTIONS.
New Construction Trends in Our NJ Midtown Direct Communities
One of my main objectives is client focus and to that end educating my clients about new trends and opportunities in our NJ Midtown Direct community marketplace.
What I have been seeing lately is a trend to completely gut , renovate or tear down homes in many of the Midtown Direct communities including Short Hills, Summit, Chatham and Livingston, but on a smaller scale than what we’ve seen in previous years. The trend is towards smaller, high quality, with custom top of the line kitchens and baths, and high end finishes ranging from3,500 to 5,500 square feet in the $1.1 to under $2 million range. I’m getting calls from builders and investors every day looking for these types of opportunities and properties to build on – the demand here again is huge! The larger properties on 1/2 plus acres in Short Hills, Summit, or Chatham Township would command a home that is larger since the builders would have to pay more for the property, so expect to pay at least low $2 Million’s for something like this becuase they can most likely put a 7,000+ sq ft home on this type of property.
I listed brand new custom home for $1,499,000 in Chatham built by S. DeMarzo & Sons, a family owned construction company, headquartered in Madison, NJ, featuring superior crafted, new construction custom-built luxury homes. Modeled after their $2.5 million mansions, this smaller scale 4,800 SF colonial has been built to perfection in a neighborhood that is in the early stages of experiencing renovation and rejuvenation.
Another example of this recent trend is a home I just sold in Short Hills, which was a renovation in a neighborhood where homes are in the entry to mid range, with great walk to town & train location. This 2200 sq ft home was expanded to about 4500 sq ft and the list price was 1.495M. The trade off for buyers in this price range tends to be older larger homes that need some renovation, or brand spanking new but in the 4500 sq ft range.
For the first time in four years, we are experiencing those old familiar bidding wars for these types of properties. My Brantwood Drive listing, on the north side of Summit just sold to a builder for $101k over list price! This was on 1/3 of an acre, so again, the house won’t be a huge McMansion and the price will be in a more affordable range because of it.
We are representing quite a few builders who are looking for properties to renovate and expand or tear down. The more work it needs the better. It just has to be in a quiet location and have a flat rear yard. If you know anyone thinking about moving who’s home fits the bill, please let me know.
Thanks!
Sue Adler
973-200-6261
I’m Looking To Create The Best Community Facebook Page Ever and I Need Your Help!!
Situation: The Sue Adler Team wants to design a really fun and welcoming Facebook community page showcasing all the Midtown Direct towns.
Solution: Reaching out to my treasured friends and clients inviting you to share photos and inspiring community endeavors that represent your neighborhood activities, block parties, newcomer’s events, community festivals and holiday gatherings to be the focus of my new community page on Facebook. Something as simple as your favorite pilates class, the best neighborhood bakery or the grand opening of an eatery or boutique. I would love to hear about any news that would make a new Midtown Direct community homeowner feel welcomed and informed about the neighborhood or attract a prospective buyer to one of our amazing towns. Or perhaps your very own neighbor shares a common interest, but wasn’t aware it was being offered so close to home. My community page can serve as a platform highlighting everything our neighborhoods have to offer; and the list is unending — we have so much to be proud of — why not shout it far and wide.
My business is built around our communities and the people who give so much to ensure it’s a thriving, culturally rich and safe place for all who live there. It’s the amazing, inspiring and intelligent people I meet every day and their daily experiences and joys that make my business successful. I want to build a community page that reflects our residents — the heart and soul of our towns.
So, I’m calling on you to please send me pictures and community news or neighborhood highlights to [email protected] about what makes your heart sing and puts a smile on your face each and every day because of the fantastic place we call our home. A great cup of coffee brewed in your town village, a 5-star dining experience or an early morning yoga class after you drop the kids off at school — we all share the same community – why not invite others to be a part of it.
Thank you for sharing your lives and these simple pleasures with me.
MSN.com Real Estate Lists South Orange as One of the Best College Towns for Adults
Looking for a new career, interested in sharpening your current skills or maybe simply taking a few courses? I just read a terrific article from MSN.com Real Estate on the top 10 college-town neighborhoods for adults. Listed amongst those chosen was Newstead, South Orange, in our very own Midtown Direct community and the home of Seton Hall University — ranked as one of the nation’s top universities for both its undergraduate and graduate programs by The Princeton Review, US News & World Report and Bloomberg Businessweek. Perhaps when choosing a college as a teenager, your criteria might have been a bit different. But today as an adult with a day job, South Orange — may be just the perfect choice.
And pretty perfect it is…. South Orange is a quaint residential community only 25 minutes from Manhattan on NJ Transit’s Midtown Direct Line. It remains one of only a few towns in New Jersey where the residential streets are lit by gaslights contributing to the Old World Charm and character of the town.
Its neighborhoods are unique and charming including the Newstead section cited in the article and boasting larger, more expensive homes. Some other South Orange neighborhoods include the historic Montrose section with elegant estate homes, Town Center and the Seton Hall section. All offer different, but fantastic lifestyle options.
Further appeal is the excellent public school system, ethnic diversity, beautiful architecture and rich culture evident through venues like the South Orange Performing Arts Center (SOPAC), a state-of-the-art performance center attracting red carpet entertainers and a 5-screen Clearview Cinema movie complex.
And that’s not all…there’s such a real strong sense of community here. The parent teacher associations in all of its 9 schools are extremely active, an indication of the spirit, kinship and pride of the residents. Friends meet in one of the remarkable parks or in the busy downtown business section at one of the funky ethnic restaurants or for a quick cappuccino at Starbucks. It’s a truly cosmopolitan area in a suburban setting. For a more peaceful adventure out, the South Mountain Reservation offers over 2,000 acres of woodlands, trails and bicycle paths where nature lovers can delight their senses and enjoy spectacular views of the Manhattan skyline. It is something to see!
And, it’s never too early to start thinking about college for the little ones – the time goes fast especially living in a great town like South Orange. So, looking for a college-town or just considering a move, put South Orange at the top of your must-see list – it will wow you!
Women’s Council of Realtors Recognizes NJ Realtor, Sue Adler as One of the “Leading Women” in the Industry
The Women’s Council of Realtors did a feature story on me last week, as one of the leading women in the real estate industry. What an honor!!!
Women’s Council of Realtors is a membership organization that connects women industry professionals and provides resources for training, real estate information and industry strategies. The organization prides itself on offering networking opportunities and has done a series of interviews featuring women they consider to be the most influential leaders in the Real Estate industry. This month I was honored to be their latest choice and thrilled to share some of my strategies for success with women all over the country. Click here to read the article.
I’ve been in the real estate business for a quarter century and what I love is that things are always changing, which means we, as professionals have to constantly stay ahead of the curve to succeed. Support organizations, like Women’s Council of Realtors, understand that you’re never too experienced to learn something new or too successful to share advice with peers and colleagues. This is how we all learn, grow and build a much stronger and smarter industry.
I have built a team that understands the importance of being consumer-centric , taking control and guiding our clients throughout the entire process. Client focus, dedication and hard work go miles in generating positive results and several client and agent referrals of new buyers and sellers to our team each week. It is the most amazing feeling making difference in people’s lives every day.
Being recognized by an organization that highlights the achievements of strong, ambitious, creative and successful women in the real estate industry is something that makes me especially proud. Thanks WCR!
The Latest and Greatest for Short Hills Home Buyers
Short Hills seems to have it all – an easy 35 to 40 minute commute on NJ Transit’s Midtown Direct Line, top-notch schools, magnificent homes – from historic mansions to newer style ranches – all with lush landscapes and down town Millburn boutique shopping & trendy restaurants. What more could anyone ask for? So it was no surprise when I picked up Thursday’s New York Times Real Estate section and saw this article right on point.
It’s no wonder that home values in this serenely beautiful community have not seen the downturn that other towns have recently experienced. And to sweeten the deal, interest rates are at historical low numbers. According to Cathy Haddad, Sales Manager & Mortgage Consultant, at Atlantic Home Loans , rates for conforming loans are as low as 3.75% and 4.5% for a Super Jumbo mortgage. For additional information, Cathy Haddad can be reached at (848) 203-2272 (cell) or (973) 830-8789. Read more
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