Don't miss the chance to come downtown to Cranford's Street Fair this Sunday May 4th, 2008 from 11:00 until 5:00 PM. For more information, you can click Streetfairs.org or simply click here to go to Cranford.com's website and get some additional info.Hopefully the weather will cooperate, and everyone can enjoy the vibrant downtown area of Cranford NJ. For real estate information about Cranford, NJ, click hereThanks for reading. Check back next week for more Cranford NJ information on housing, and related items.Sean Carroll - Realtor, Team Leader"Team Carroll" - Real Estate Professionalswww.TeamCarrollNJ.com  05/02/2008

While reviewing the MLS this morning, I couldn't help but notice that there are now 100 homes active on the MLS for sale in Cranford NJ. This number has consistently risen over the past few months, but don't be mislead into believing that this means the market is stalled, or homes aren't selling.Upon more detailed analysis of the numbers, homes that are priced between 400K and 500K are flying off the market if priced properly. This can be attributed to still favorable interest rates, and sellers in this range pricing under 500K, instead of pushing the envelope too high on their asking price. I have seen multiple offer scenarios quite frequently, as I have blogged on before.On the contrary, the homes priced above 550K, especially those above 600K, are taking longer to sell, and are avera... 04/29/2008

Over the past few weeks, I have been involved with several multiple offer situations in the Cranford, NJ Real Estate market. As I discussed in my last blog post, I decided to go back and look at the numbers again to compare to last year, and see if we are in just a seasonal uptick, a market shift, or simply that sellers are finally learning that competetive pricing in a competetive market will sell their homes quickly.After studying the data, it looks like explanation #3 is the most likely, as the sales activity is almost the same as it was a year ago for the Month of March 2007 and 2008. See the chart below:MMM,YYYYActive ListingsNew ListingsUnder ContractSold ListingsSP/LP #Avg. LPMed. LP#Avg. LPMed. LP#Avg. LPMed. LPAvg.DOM#Avg. SPMed. SPAvg.DOM Mar,2008 111 $520,818 $479,000 38 $532... 04/22/2008

In the past few days in not only Cranford, NJ, but in other towns as well, I have been involved in 6 multiple offer situations. One as a listing agent, and 5 as a buyers agent. It seems that more and more sellers are finally starting to price their homes to sell, instead of pricing them to sit on the market.If this continues, it appears that some of this excess inventory will start to move off the market, and the prices may start rising slowly, if the buyer activity remains strong. I will say that all of these homes were in the first time buyer price range, and I have not looked in particular at ranges above this to see if the same thing is happening, but it is definitely a good sign that the first time buyers are starting to move off the fence more and more, which will bring sales up t... 04/15/2008

Here are the raw numbers for March 2008 in Cranford NJ Real Estate. More detailed analysis to followNumber of Closed Sales: 18 (this includes those that went under contract before March)Number of Listings that Went Under Contract: 16Average Sales Price: $375,391Average Days on Market of Sold Homes: 67List to Sale Price Ratio: 97%Number of New Listings: 38That is a LOT of homes going under contract and closing in March which was fueled likely by lowering interest rates, slightly warmer weather, and sellers PROPERLY pricing their homes.It is becoming apparent to us that sellers who need to sell are starting to list their homes at prices that are in line with market demand. This sparked buyer activity, and if rates remain competitive, I expect this trend to continue for the short term. Lon... 04/07/2008

Under contract in just 9 short days...this home sold for 99% of asking price at $460,000. Need to sell your home? Ask us how we can help you get similar results: Commuters Dream!! Just 2 Blocks from NYC Train and Bus! UNDER CONTRACTLocation: Cranford, NJWALK TO TRAIN and NYC bus from this spacious expanded cape with ALL 3 bedrooms on the 2nd Floor. Just 2 blocks from train station, this tastefully decorated expanded cape features a rare full 'dormer' with all 3 bedrooms, and a full bath upstairs, just like a colonial! You won't believe the space! NOT your typical cape cod! Features include a New kitchen with granite counters, HW Floors Throughout, Master bedroom with two closets, including a walk-in, New Kitchen with granite counters and breakfast bar, Large formal dining room Bonus fam... 04/02/2008

Here are the raw numbers for February 2008 in Cranford NJ Real EstateNumber of Closed Sales: 10 (this includes those that went under contract before February)Number of Listings that Went Under Contract: 23 (wow)Average Sales Price: $536,500Average Days on Market of Sold Homes: 95List to Sale Price Ratio: 95%Number of New Listings: 32That is a LOT of homes going under contract in February which was fueled likely by those record low interest rates in the early part of the month, combined with a few very nice weather weekends. Last February there were only 11 that went under contract.Also, it is becoming apparent to us that sellers who need to sell are starting to list their homes at prices that are in line with market demand. This sparked buyer activity, and if rates remain competitive, I... 03/10/2008

This market is active...at least it is in my world. :) Our biggest challenge today at Team Carroll is to try to coordinate closings from listing to purchase, to listing to purchase, etc. We have a first time buyer, whose funds are the start of a chain of closings which will ultimately end up with at least 3 property closings in Cranford alone. That is a lot of stress for my clients of course, and for everyone involved..On the market side however, it is a good sign in that the real estate food chain in Cranford seems to be showing many signs of life. Check back early next week for my monthly Cranford NJ Real Estate Market report, which will breakdown the numbers for February, and give you an idea of where we are trending going forward. Until then...thanks for reading as always....Sean Ca... 03/07/2008

1. How long have you been in the business?            2. What is your ratio of sales price to listed price? How does this compare to the rest of the market?3. What is the average number of days your listings are on the market before selling? How does this compare to the market average?4. Would you please show me a copy of your marketing plan?5. Could I have a copy of your standard listing agreement?6. How many buyers do you have in your personal database? 7.  What is your commission rate? What is included with that? How much of that is paid out to the buyer's agent?  8.  What is the length of your listing agreement? 9. What if I am unhappy with your service during the course of the listing? Can I cancel at any time? Are there cancellation fees?10. At what price would you recommend marke... 02/22/2008

Today marks just about the midway point to February, especially with this being a leap year, so I wanted to post an interim real estate report for Cranford NJ.As of today, there are 79 Active Listings in Cranford NJ, and there have been 7 homes that have gone under contract this month. That is a good pace for sales in February, and I anticipate that we will see at least a handful more, as there are several properties currently in attorney review. Check back in 15 days for the February Real Estate report for Cranford, which will include pricing information, comparisons to 2007, and projections for the quarterly report of the 1st quarter 2008.For the January report: Click HereThanks for reading!Sean Carroll - Realtor, Team Leader"Team Carroll" - Real Estate Professionals Specializing in C... 02/15/2008

            CRANFORDKnown at the turn of the century as the Venice of New Jersey, the Union County Township of Cranford grew up around the meandering Rahway River. In 1720, John Crane of nearby Elizabeth Towne (now Elizabeth) built a grist mill on the north side of a ford in the river and a sawmill on the south side. That mill at Crane's Ford provided grain for Washington's troops during the Revolution. Cranford remained a small village until 1838, when the Elizabethtown & Somerville Railroad made it accessible to New York City. The railroad and river led to Cranford's development, first as a recreation area and later as a commuter suburb to New York. In 1871 Cranford was incorporated as a township and, within 15 years, about 76 residents were commuting daily to the city. The most impor... 02/07/2008

This is an addendum to my post about the Cranford NJ Real Estate Market summary for January 2008.After studying the numbers for a period of 3 months ending January 2008, and comparing them to that same period from January 2007, it confirms what I said in my earlier blog. We are flatlined in terms of prices and sales activity from one year ago with no heavy change in either direction . While there were less closed and pending sales by a few percentage points, there were also slightly less new listings. Less new listings is a good thing for selling off inventory, and for sparking buyer activity. Keep in mind that these figures do not reflect any offers that may have been written in the last few weeks of January, and were still in attorney review as of January 31. I noticed a big boost in ... 02/06/2008

****Drumroll Please*****I know I gave you all that great teaser yesterday saying I was prepared to maybe to call the bottom of this housing market in Cranford NJ and tell you that sales activity might indicate that we were starting to pull away from the slower pace of the past 2 years. Well...unfortunately the data doesn't indicate a movement upward in sales activity, but the good news is that there was not a movement down in sales activity either, which could mean we are surfing around on the bottom part of the housing cycle, ready to make a move upwards in activity.If history is a guide, corrections usually last in the neighborhood of 3 years, and we are approaching that 3 year mark here in this area. So, I would tend to believe that we may start to see some motion to the upside in pe... 02/01/2008

....well if I had the answer to that, I would be a very rich man! Instead, all I can do is help buyers and sellers accomplish their goals. What I can say is that tomorrow, Feb 1, 2008, don't miss the latest Cranford NJ Real Estate Market Report, which will show the key statistics of pending home sales for January, and number of new listings. This will go a long way in determining which way the 2008 market is trending.I can tell you from first hand experience, that just this month alone, I have seen or been involved with a few multiple offer situations, and a listing that sold in less than 10 days. I have seen interest rates drop to incredible levels, and more first time buyers jumping into the market than in the past 3 years. These are signs that point to the light at the end of the tun... 01/31/2008

            CRANFORD NEW JERSEYKnown at the turn of the century as the Venice of New Jersey, the Union County Township of Cranford grew up around the meandering Rahway River. In 1720, John Crane of nearby Elizabeth Towne (now Elizabeth) built a grist mill on the north side of a ford in the river and a sawmill on the south side. That mill at Crane's Ford provided grain for Washington's troops during the Revolution. Cranford remained a small village until 1838, when the Elizabethtown & Somerville Railroad made it accessible to New York City. The railroad and river led to Cranford's development, first as a recreation area and later as a commuter suburb to New York. In 1871 Cranford was incorporated as a township and, within 15 years, about 76 residents were commuting daily to the city. The... 12/28/2007

The Celebration Singers (www.Celebration-Singers.org) have their final performance of the winter season this evening at 8:15 at the Harvest Training Center on Myrtle Ave in Cranford NJ. I will be singing Tenor, as usual, and last night's performance went wonderfully. Thanks to all of you who came. We had over 400 people in the audience.Tickets are $15.00 and can be purchased at the door, but try to arrive early for preferred seating. Happy Holidays everyone!Sean Carroll - Realtor, Team Leader"Team Carroll" - Real Estate ProfessionalsServing Berkeley Heights, Scotch Plains, New Providence, Cranford, Westfield, and Surrounding Areaswww.GoCarrollTeam.com  12/15/2007

For the month ending November 30, 2007, there were 18 closed sales in Cranford, with an average sales price of 526,666. This is an increase in sales activity, and when combined with few active listings, the absorption rate dropped to about a 5 month supply - near term. However, I expect this to be short lived, as traditionally, December and January are slower sales months, and January there should be more new listings. Check back after the holidays for another Cranford NJ Real Estate Market Update.Sean Carroll - Realtor, Team Leader"Team Carroll" - Real Estate ProfessionalsServing Berkeley Heights, Scotch Plains, New Providence, Cranford, Westfield and Surrounding Areaswww.GoCarrollTeam.com  12/06/2007

See if you can find your local Realtor in this video! This is straight from our rehearsal last night for the Celebration Singers Holiday Concert - Next Friday and Saturday at 8:15 in Cranford NJ. Hope you enjoy this version of Jingle Bells. This is arranged by Ray Charles, and I think you will hear the jazz style coming through. (If you are looking for me, I am in a grey sweatshirt towards the left side of your screen. Enjoy, and Thanks for watching! 12/05/2007

The annual holiday concert of the Celebration Singers (www.Celebration-Singers.org) children's chorus and adult chorus will be Friday and Saturday December 14 and 15 at 8:15 PM. The cost is $15.00 per person. The concert will be held at the Harvest Training Center on Mrytle Ave. on the south side of Cranford NJI will be a soloist this year and am excited about the opportunity. I hope you can attend. E-mail for any additional details! Sean Carroll - Realtor, Team LeaderTeam Carroll - Real Estate Professionalswww.GoCarrollTeam.com 12/03/2007

In October 2007, there were 12 closed sales in Berkeley Heights. The average sales price for these homes was $431,708, and the average days on the market was 32, which shows that properly priced listings are the ONLY units that are selling right now. Although active listings have remained fairly constant with 90 on the market right now, this has caused the absorption rate to increase to 7.5 months supply, with only 12 closed sales. The absorption rate had been holding steady in the 5-6 month range until we got to September and October. This is just further evidence that sellers need to be realistic with their pricing. Properly priced homes will still sell...just listen to your Realtor's recommendation carefully.Sean Carroll - Realtor, Team LeaderTeam Carrollhttp://www.gocarrollteam.com/... 11/08/2007