Wednesday, November 08, 2006

4514 Houses on MLS this Week

Last week we were at 4558.

11 Comments:

Anonymous bb said...

I see there was a house for sale in rumson listed 1,199,000....sold...1,467,000 I believe the address was 17 buttonwood ...just goes to show you price it right and the'll come knocking

Thursday, November 09, 2006 5:06:00 PM  
Blogger njcoast said...

The house at 17 Buttonwood was listed on 6/06 for $1,525,000 and closed 10/06 for $1,531,000.

Since May 22, 2006 to present there has been 62 closings in Rumson on the MLS.

# sold at original list price- 1
# sold above OLP-2
# sold below OLP-59

That's alot of mispriced homes!

Friday, November 10, 2006 12:25:00 AM  
Anonymous Anonymous said...

Thank you njcoast for clarifying that information. I suspected that bb's post could not be correct. I don't see any 2003-2005 style bidding wars going on today, even in ritzy Rumson. I guess bb must be a seller or agent trying to pump up the local market.

Friday, November 10, 2006 1:20:00 AM  
Anonymous Anonymous said...

I would love to know the difference in OLP/SP for those 59 houses. Is the Rumson market different from other towns in the area? Seems like a high number of sales there, considering the market this year. High end homes in most towns don't seem to be moving quickly, but I guess Rumson is an exception.

Friday, November 10, 2006 1:33:00 AM  
Anonymous Anonymous said...

A lot of people are pulling their houses off the market during the dead period between Thanksgiving and New Year's. Then they'll list again in early spring to make it look like a fresh listing.

Friday, November 10, 2006 9:15:00 AM  
Blogger njcoast said...

Okay here is a sampling of original list prices (OLP) to closed prices in Rumson from May 22 to present according to the Monmouth County MLS. This is by no means like Grim's lowball- I just took a random sample from different price ranges.

MLS 10073271
3/06-OLP-$449,000
10/06-closed-$312,000
MLS 10066258
9/05-OLP-$649,000
8/06-closed-$515,000
MLS 10093170
7/06-OLP- $639,900
9/06-closed-$575,000
MLS 10077458
7/05-OLP- $739,000
7/06-closed-$600,000
MLS 10071112
3/06-OLP-$975,000
7/06-closed-$825,000
MLS 10075926
4/06-OLP- $1,635,000
6/06-closed-$1,475,000
MLS 1008022
2/06-OLP-$2,565,000
10/06-closed-$2,000,000
MLS 10069581
3/06-OLP-$3,650,000
10/06-closed-$3,200,000
MLS 10049556
9/05-OLP-$3,900,000
6/06-$2,600,000
MLS 10054173
4/06-OLP-$3,125,000
6/06-closed-$2,600,000
MLS 10069581
3/06-OLP-$3,650,000
10/06-$3,200,000
MLS 10092062
7/06-OLP-$3,900,000
7/06-closed-$3,200,00
MLS 10029845
4/05-$6,295,000
6/06-closed-$4,725,000

Many of these had multiple MLS numbers and price changes before they sold.

Friday, November 10, 2006 9:31:00 AM  
Anonymous MBob said...

Greenspan said "This is not the bottom, but the worst is behind us," ....that good enough for me I've started to look for investment properties in choice areas...I'd rather be a little early than miss the boat .....http://news.yahoo.com/s/nm/20061106/bs_nm/economy_greenspan_dc

Friday, November 10, 2006 7:03:00 PM  
Anonymous Anonymous said...

Greespan knows best - good luck.

Saturday, November 11, 2006 9:25:00 AM  
Anonymous Anonymous said...

Well, mbob, I'm sure you'll have lots and lots of investment properties to choose from.

Go get 'em, Tiger!

And be sure to let us know how it turns out.

Sunday, November 12, 2006 10:02:00 PM  
Blogger njcoast said...

I am in Italy visiting my daughter who is in school there and was talking with one of the Italian students. He said he comes from a long line of Venetians but now he lives in Padua just outside of Venice. He says that many wealthy people from Italy and all over the world and corporations have come to Venice and driven up the prices so much that the young people can no longer afford to live where they grew up. Sound familiar? This bubble really is global.

Monday, November 13, 2006 10:19:00 AM  
Anonymous Anonymous said...

"Greenspan said "This is not the bottom, but the worst is behind us," ....that good enough for me I've started to look for investment properties in choice areas...I'd rather be a little early than miss the boat."

Is this the same Greenspan who advised getting variable APRs at the precise low in interest rates?

Tuesday, November 14, 2006 8:30:00 PM  

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