Monday, April 10, 2006

At A Glance: Madison, NJ

Listings As of 4/10
Total Active Listings: 65
Up To $500,000: 12
$500,001 - $1,000,000: 39
$1,000,001 And Up: 14

Listing Activity Since 4/1
13 Added
1 Back on Market
12 Price Reductions
5 Under Contract
6 Sold
2 Expired
4 Withdrawn
1 Temporarily Withdrawn

March Sales Activity
Up To $500,000: 2
$500,001 - $1,000,000: 10
$1,000,001 And Up: 1
Sales Prices were 3.9% below Original List Prices
(Activity data from GSMLS)

22 Comments:

Blogger Richard said...

what is it with madison? i mean it's an ok town and all but the asking prices on the properties there are laughable. over $700k for a ranch? please.

4/10/2006 04:53:00 PM  
Anonymous UnRealtor said...

Richard, two words: "midtown direct."

4/10/2006 05:16:00 PM  
Blogger Richard said...

i call the midtown direct the eye of the hurricane. if you don't work in the city don't look at anything on that train line, you'll pay a hefty premium.

4/10/2006 06:36:00 PM  
Anonymous UnRealtor said...

Richard, you'll pay a premium, but it will also help resale later on. For those who don't work in NY City, it wouldn't make sense, though, I agree.

Check out this realtor:

http://www.midtowndirecthomes.com

Nice train graphic at the top of the page!

4/10/2006 06:56:00 PM  
Anonymous RW said...

Don't look at list prices anymore- they mean nothing- see them sit and then see what they eventually sell for. Everyone is talking about the market getting softer, the topic isn't- wow look at those prices but wow seems to be a lot on the market. Your Patience will be rewarded. I totally sound like a fortune cookie.....

4/10/2006 07:26:00 PM  
Blogger grim said...

Great article over at Slate (courtesy of Ben Jones). Talks about the new manipulative real estate commercials being aired by Century 21.

The Nastiest Wife on Television

As for "The Debate": It's terrifying. The problem lies in the performances. That beleaguered husband, dough-faced and weary, seems highly sympathetic as he expresses a few doubts about this major life decision. Meanwhile, the wife (who looks like a more hostile Mary Louise Parker—though she lacks MLP's patented bone-dry delivery) just knits her eyebrows at the guy like he's unfathomably dense. Later, she jabs him with an accusatory "What?!"—her eyes wide and wild, her neck muscles flexed, her head twitching in disbelief at what a ninny her husband's turned out to be.

The capper comes when their real estate agent, who we discover has been listening in on what should be a private and delicate moment, takes sides with the wife and thereby crumbles the husband's defenses. Don't listen to her, John. Of course your agent wants you to buy a house you can't afford—she gets a bigger commission!

4/10/2006 08:31:00 PM  
Blogger grim said...

You can watch the psychological warfare here:

http://russellarch.com/videofiles/CENTURY21.mov

grim

4/10/2006 08:37:00 PM  
Blogger njresident286 said...

I HATE those commercials. This bring up another intersting topic, which is how TV shows portray men in general. Shows like everybody loves raymond, that jim belishi show, and a lot of other sitcoms show men as stupid idiots who could not brush their teeth if it were not for the wives (who by the way usually are stay at homes moms, which makes them so empowered). It makes me sick to see the way dads and men are portrayed on primetime TV.

As for madison, I live there now in an apt. I love the town to rent it, but I am not sure if I would buy here. It seems like in 20 years it might not be such a nice town, and for a similiar price you could purchase in chatham which I feel will always keep its elite status.

4/10/2006 09:23:00 PM  
Anonymous looking said...

Based on my 4 or 5 months of personal experience, this is eerie because it can ultimately come down to a decision that becomes so clouded by tunnel vision and fatigue it easily becomes a gut decision filled with emotion.

That was until I found salvation, enter grim and the gang ;) I realize now that we’re only seeing Act I.

4/10/2006 09:43:00 PM  
Anonymous Anonymous said...

THANK YOU! Those commercials could be the most obnoxious thing I've seen on TV in years. And the timing is particularly insulting. You all have touched on how bad it is so I'll leave it at that.

4/10/2006 10:17:00 PM  
Anonymous UnRealtor said...

That Centiry 21 commercial is very manipulative.

I wasn't sure if the Realtor™ was on the phone listening, or it was just a mish-mash editing style of the director.

If it's the case that the agent was listening in while the wife drilled the reluctant husband, that makes the ad even more nasty.

It's essentially FB propaganda.

4/10/2006 10:30:00 PM  
Anonymous Anonymous said...

They should finish that commercial by showing the husband and wife in the new home with him taking it in the ass from his wife's strap-on. That dude has no balls.

4/10/2006 10:33:00 PM  
Anonymous Anonymous said...

Interesting commentary about the way men are portrayed on television. It seems that white men are the only PC target of ridicule these days. The guy's always the butt of the joke or the buffoon.

4/10/2006 10:54:00 PM  
Anonymous Anonymous said...

I was in Miami this weekend and noticed a number of Realtor Agents Wanted signs in the windows of a number of agencies. I would think these people are beginning to feel the pressure as sales slow down.

Here in NJ I see dozens of Real Estate Agents in the office and begin to wonder just how long they can "hang out" before they throw in the towel.

Bill

4/11/2006 04:41:00 AM  
Blogger grim said...

Let me just tell you all how happy I am that my wife is nothing like the wife in that commercial.

Unfortunately, I know a few husbands that aren't so lucky.

grim

4/11/2006 06:16:00 AM  
Blogger pesche22 said...

many have already thrown in the towel. they just dont know it yet.

its called denial

4/11/2006 06:56:00 AM  
Anonymous RW said...

Let me just tell you all how happy I am that my HUSBAND is nothing like the wife in that commercial.

Unfortunately, I know a few WIVES that aren't so lucky.

Men and women both by homes emotionally. For some men everything is a competition and they will over pay for a house to "win" it. Testosterone is certainly responsible for some of these unbelievable bidding wars.

4/11/2006 08:25:00 AM  
Anonymous Anonymous said...

I would never treat my husband that way.. When I saw the commercial I was wondering how long it would take before someone would find it equally offensive.We are looking in Montvale, Rivervale & Harrington Park.. We have low bid on 2 house (15% less then asking) The realtors there acted like we were insane... But I just can't see spending 600K for a 3 bedroom 2 baths split level house that needs updating on a 80 X 100 lot..The realtors told us that the sellers are going to wait because there are people out there who will pay the "right amount" to live there...Our families for the sake of thier own nest eggs are embarrassed that we would put a bid in that low..I am embarrassed for those who think thier shack is worth that much... It makes people look greedy. 1 home was 585K an they literally put a stand up shower in thier closet and called it a 2 bathroom.

4/11/2006 08:35:00 AM  
Blogger skep-tic said...

look if you are a married guy you are by definition whipped. I am a very happily married guy but I have no problem admitting this.

wives of all sorts whip their husbands-- from stay at home moms to ultra-feminist types.

Maybe it doesn't always take the form of buying a house, but every single guy who is in a long term relationship has done stupid things just to try to please his girlfriend/fiance/wife.

not saying that I don't think this guy is a chump, but the reason the commercial is so annoying is because I know I could easily be that chump at some point.

4/11/2006 09:47:00 AM  
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4/23/2006 11:44:00 PM  
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