New Jersey Real Estate Report

19 Yale Terrace, Montclair NJ

Purchased: 6/1/2005
Purchase Price: $762,000
MLS# 2503228
Sold: 6/26/2008
Sale Price: $705,000

19 Woods End Road, West Orange NJ

Purchased: 6/1/2004
Purchase Price: $379,000
MLS# 2493002
Sold: 6/27/2008
Sale Price: $362,500

31 North Road, Chester NJ

Purchased: 7/23/2004
Purchase Price: $425,000
MLS# 2498591
Sold: 6/26/2008
Sale Price: $390,000

2 Lent Street, East Hanover NJ

Purchased: 8/31/2005
Purchase Price: $595,000
MLS# 2504681
Sold: 6/23/2008
Sale Price: $490,000

3 Ryan Court, Montville NJ

Purchased: 9/7/2006
Purchase Price: $1,883,065
MLS# 2465933
Sold:6/27/2008
Sale Price: $1,875,000

2 Spring Brook Court, Randolph NJ

Purchased: 10/25/2005
Purchase Price: $620,000
MLS# 2502058
Sold:6/16/2008
Sale Price: $580,000

568 Herrick Drive, Rockaway NJ

Purchased: 12/22/2005
Purchase Price: $395,000
MLS# 2501924
Sold:6/27/2008
Sale Price: $385,000

1 Shannon Mountain Lane, Washington Twp NJ

Purchased: 7/23/2003
Purchase Price: $625,000
MLS# 2511748
Sold:6/26/2008
Sale Price: $616,500
(Under the 2003 Purchase Price!)

152 Patriot Hill Drive, Basking Ridge NJ

Purchased: 8/22/2007
Purchase Price: $640,000
MLS# 2498959
Sold:6/26/2008
Sale Price: $610,000

5 Crammer Lane, Hillsborough NJ

Purchased: 9/13/2006
Purchase Price: $495,000
MLS# 2515281
Sold:6/27/2008
Sale Price: $490,000

517 Cicilia Place, Scotch Plains NJ

Purchased: 6/15/2006
Purchase Price: $389,000
MLS# 2512061
Sold: 6/27/2008
Sale Price: $287,500

23 Park Ave, Newton NJ

Purchased: 9/12/2005
Purchase Price: $393,750
MLS# 2469605
Sold: 6/27/2008
Sale Price: $382,500

332 Knox Way, Hopatcong NJ

Purchased: 11/21/2006
Purchase Price: $210,000
MLS# 2516427
Sold: 6/26/2008
Sale Price: $175,000

10 Carolina Ave, Newark NJ

Purchased: 8/9/2006
Purchase Price: $195,000
MLS# 2516055
Sold: 6/26/2008
Sale Price: $50,500

95 Blue Hill Ave, Fairlawn NJ

Purchased: 9/15/2005
Purchase Price: $425,000
MLS#: 2811101
Sold: 6/27/2008
Sale Price: $401,000

Welcome to another edition of Lowball!

Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller accepts the offer. We take a list of home sales from the past month and pick out the sales that have the highest percentage difference between original list price and selling price.

To keep the list length reasonable, we’re going to use 15% as the minimum percentage off last list price to be considered a Lowball! Date range was 5/15-6/22, source GSMLS.

Key
MLS - The Listing ID Number
OLP - Original List Price
LP - Last List Price
SP - Sale Price
% off OLP - The difference between the OLP and SP
% off LP - The difference between LP and SP

Caveat Emptor!

MLS#	Town	OLP	LP	SP	% off OLP	% off LP
2445376	Irvington	$185,000	$185,000	$115,000	37.8%	37.8%
2399347	Hillside	$235,000	$235,000	$150,000	36.2%	36.2%
2496748	East Orange	$179,999	$179,999	$120,000	33.3%	33.3%
2393054	Paterson	$275,000	$174,900	$120,000	56.4%	31.4%
2489363	West Milford	$49,900	$49,900	$35,000	29.9%	29.9%
2408448	Wyckoff	$499,900	$399,000	$286,400	42.7%	28.2%
2489049	Vernon	$124,900	$124,900	$90,000	27.9%	27.9%
2447807	Denville	$424,900	$349,000	$251,500	40.8%	27.9%
2471176	Irvington	$186,000	$167,400	$128,000	31.2%	23.5%
2429468	Elizabeth	$249,000	$198,000	$152,000	39.0%	23.2%
2428373	Fairfield	$339,000	$299,000	$230,000	32.2%	23.1%
2495996	Waldwick	$485,500	$485,500	$375,000	22.8%	22.8%
2439337	Millburn	$555,000	$555,000	$432,000	22.2%	22.2%
2502706	Linden	$639,900	$639,900	$500,000	21.9%	21.9%
2489654	Pompton Lakes	$475,000	$459,000	$360,000	24.2%	21.6%
2224253	North Haledon	$950,000	$950,000	$750,000	21.1%	21.1%
2453443	Boonton Town	$399,000	$399,000	$315,000	21.1%	21.1%
2421292	City Of Orange	$359,999	$289,900	$230,000	36.1%	20.7%
2443948	Newark	$113,000	$113,000	$90,000	20.4%	20.4%
2485346	Mendham	$5,250,000	$5,250,000	$4,190,000	20.2%	20.2%
2471673	Bernards	$450,000	$500,000	$400,000	11.1%	20.0%
2448566	Clifton	$305,000	$249,900	$200,000	34.4%	20.0%
2460071	Hopatcong	$225,000	$179,900	$144,000	36.0%	20.0%
2503446	Hanover	$560,000	$560,000	$450,000	19.6%	19.6%
2457470	Byram	$239,000	$217,000	$175,000	26.8%	19.4%
2491120	East Orange	$285,000	$285,000	$230,000	19.3%	19.3%
2480334	Mahwah	$10,995,000	$10,995,000	$8,875,000	19.3%	19.3%
2506166	West Milford	$139,000	$139,000	$112,500	19.1%	19.1%
2349974	Franklin	$370,000	$370,000	$300,000	18.9%	18.9%
2413793	Roselle	$289,000	$209,000	$170,000	41.2%	18.7%
2446157	Rockaway	$675,000	$675,000	$550,000	18.5%	18.5%
2401966	Parsippany-Troy Hills	$480,000	$325,000	$265,000	44.8%	18.5%
2416190	Mountain Lakes	$2,345,000	$2,345,000	$1,915,000	18.3%	18.3%
2455999	Carlstadt	$440,000	$440,000	$360,000	18.2%	18.2%
2496223	Wayne	$324,900	$324,900	$266,000	18.1%	18.1%
2455932	Hanover	$469,990	$469,990	$385,000	18.1%	18.1%
2458446	Passaic	$349,000	$299,000	$245,000	29.8%	18.1%
2498374	Bernards	$375,000	$365,000	$300,000	20.0%	17.8%
2505536	Linden	$219,000	$219,000	$180,000	17.8%	17.8%
2465396	Clifton	$255,000	$255,000	$210,000	17.6%	17.6%
2484591	East Orange	$339,900	$339,900	$280,000	17.6%	17.6%
2460883	Plainfield	$169,900	$84,900	$70,000	58.8%	17.6%
2472462	Wayne	$48,500	$48,500	$40,000	17.5%	17.5%
2491675	Roselle	$225,000	$199,900	$165,000	26.7%	17.5%
2472009	Warren	$1,210,000	$1,210,000	$999,950	17.4%	17.4%
2472867	Delaware	$2,975,000	$2,975,000	$2,462,500	17.2%	17.2%
2457900	Middlesex	$325,000	$280,000	$232,000	28.6%	17.1%
2471028	Harding	$1,869,000	$1,869,000	$1,550,000	17.1%	17.1%
2488165	Parsippany-Troy Hills	$376,000	$349,000	$290,000	22.9%	16.9%
2366818	Wantage	$349,900	$249,900	$208,000	40.6%	16.8%
2454633	Lodi	$255,000	$210,000	$175,000	31.4%	16.7%
2442812	Raritan	$499,000	$479,900	$400,000	19.8%	16.6%
2448905	Edison	$359,900	$359,900	$300,000	16.6%	16.6%
2485109	Wayne	$369,900	$329,900	$275,000	25.7%	16.6%
2468920	Lodi	$299,900	$299,900	$250,000	16.6%	16.6%
2471565	Hawthorne	$249,900	$239,900	$200,000	20.0%	16.6%
2355768	Vernon	$204,900	$149,900	$125,000	39.0%	16.6%
2454880	Belleville	$289,900	$289,900	$241,900	16.6%	16.6%
2474943	West Orange	$315,000	$299,000	$250,000	20.6%	16.4%
2509787	Morristown	$230,000	$215,000	$180,000	21.7%	16.3%
2487414	Bridgewater	$429,900	$429,900	$360,000	16.3%	16.3%
2501343	Rockaway	$275,000	$275,000	$231,000	16.0%	16.0%
2473355	Hillsborough	$250,000	$250,000	$210,000	16.0%	16.0%
2508461	Warren	$249,900	$249,900	$210,000	16.0%	16.0%
2463613	Plainfield	$339,000	$339,000	$285,000	15.9%	15.9%
2480422	Newark	$119,900	$99,900	$84,000	29.9%	15.9%
2425444	Hardyston	$374,500	$374,500	$315,000	15.9%	15.9%
2498112	Millburn	$2,850,000	$2,850,000	$2,400,000	15.8%	15.8%
2424012	East Hanover	$649,000	$599,000	$505,000	22.2%	15.7%
2476549	Kenilworth	$439,000	$385,000	$325,000	26.0%	15.6%
2431660	Newark	$159,900	$159,900	$135,000	15.6%	15.6%
2471581	Plainfield	$249,000	$225,000	$190,000	23.7%	15.6%
2479843	Lopatcong	$229,900	$199,900	$169,000	26.5%	15.5%
2479206	Rahway	$205,900	$195,000	$165,000	19.9%	15.4%
2408004	Roselle Park	$319,000	$319,000	$270,000	15.4%	15.4%
2462011	Bridgewater	$259,900	$259,900	$220,000	15.4%	15.4%
2456011	Franklin Lakes	$2,950,000	$2,950,000	$2,500,000	15.3%	15.3%
2494749	Maplewood	$1,295,000	$1,295,000	$1,100,000	15.1%	15.1%
2499337	Montville	$1,175,000	$1,175,000	$999,000	15.0%	15.0%

If you prefer to look at Lowball from a dollar discount perspective, here you go. The cutoff is successful lowball offers of $150,000 or more off the original list price:

MLS#	Town	OLP	LP	SP	% off OLP	% off OLP
2480334	Mahwah	$10,995,000	$10,995,000	$8,875,000	19.3%	$2,120,000
2397095	Franklin Lakes	$5,175,000	$4,299,000	$3,750,000	27.5%	$1,425,000
2485346	Mendham	$5,250,000	$5,250,000	$4,190,000	20.2%	$1,060,000
2426445	Watchung	$3,450,000	$3,150,000	$2,700,000	21.7%	$750,000
2408177	Berkeley Heights	$2,200,000	$1,500,000	$1,450,000	34.1%	$750,000
2441948	Bedminster	$2,895,000	$2,350,000	$2,200,000	24.0%	$695,000
2472867	Delaware	$2,975,000	$2,975,000	$2,462,500	17.2%	$512,500
2498112	Millburn	$2,850,000	$2,850,000	$2,400,000	15.8%	$450,000
2456011	Franklin Lakes	$2,950,000	$2,950,000	$2,500,000	15.3%	$450,000
2492046	Bernards	$2,375,000	$2,195,000	$1,925,000	18.9%	$450,000
2416292	North Caldwell	$2,290,000	$1,999,890	$1,850,000	19.2%	$440,000
2416190	Mountain Lakes	$2,345,000	$2,345,000	$1,915,000	18.3%	$430,000
2406518	Pequannock	$1,370,000	$1,100,000	$950,000	30.7%	$420,000
2503483	Millburn	$3,999,999	$3,999,999	$3,600,000	10.0%	$399,999
2479373	Harding	$3,395,000	$3,395,000	$3,000,000	11.6%	$395,000
2480857	Millburn	$1,900,000	$1,599,000	$1,511,000	20.5%	$389,000
2398407	Morris	$1,295,000	$949,000	$925,000	28.6%	$370,000
2490155	Washington	$1,450,000	$1,275,000	$1,100,000	24.1%	$350,000
2419877	Bridgewater	$1,325,000	$1,090,000	$975,000	26.4%	$350,000
2463816	Franklin Lakes	$2,499,000	$2,350,000	$2,150,000	14.0%	$349,000
2467835	Wyckoff	$1,649,000	$1,329,000	$1,300,000	21.2%	$349,000
2477338	Sparta	$1,385,000	$1,095,000	$1,052,000	24.0%	$333,000
2435316	Bernardsville	$1,325,000	$1,095,000	$999,000	24.6%	$326,000
2471028	Harding	$1,869,000	$1,869,000	$1,550,000	17.1%	$319,000
2476894	Franklin Lakes	$2,999,000	$2,999,000	$2,685,000	10.5%	$314,000
2397590	Ridgewood Village	$1,079,000	$799,900	$765,000	29.1%	$314,000
2452596	Summit City*	$1,750,000	$1,500,000	$1,450,000	17.1%	$300,000
2412975	Chester	$1,374,900	$1,175,000	$1,085,000	21.1%	$289,900
2413237	Upper Saddle River	$1,399,000	$1,249,000	$1,120,000	19.9%	$279,000
2440359	Kinnelon	$900,000	$675,000	$625,000	30.6%	$275,000
2482457	Montclair	$1,100,000	$825,000	$825,000	25.0%	$275,000
2409821	Montville	$1,795,000	$1,695,000	$1,525,000	15.0%	$270,000
2484047	Mountain Lakes	$1,379,999	$1,169,000	$1,117,499	19.0%	$262,500
2437559	Westfield	$1,899,000	$1,749,000	$1,640,000	13.6%	$259,000
2437714	Bernardsville	$1,120,000	$949,500	$862,500	23.0%	$257,500
2417811	Fairfield	$984,900	$799,900	$735,000	25.4%	$249,900
2460289	Berkeley Heights	$1,300,000	$1,199,900	$1,060,000	18.5%	$240,000
2437690	Scotch Plains	$1,228,000	$1,099,000	$990,000	19.4%	$238,000
2421033	Roseland	$835,000	$640,000	$600,000	28.1%	$235,000
2489538	Montclair	$3,850,000	$3,850,000	$3,622,000	5.9%	$228,000
2489060	Montclair	$975,000	$848,000	$750,000	23.1%	$225,000
2438076	Tewksbury	$1,299,000	$1,150,000	$1,080,000	16.9%	$219,000
2401966	Parsippany-Troy Hills	$480,000	$325,000	$265,000	44.8%	$215,000
2390061	Allendale	$1,175,000	$989,000	$960,000	18.3%	$215,000
2452827	Franklin Lakes	$1,289,000	$1,199,000	$1,075,000	16.6%	$214,000
2408448	Wyckoff	$499,900	$399,000	$286,400	42.7%	$213,500
2472009	Warren	$1,210,000	$1,210,000	$999,950	17.4%	$210,050
2471951	Millburn	$1,479,000	$1,425,000	$1,270,000	14.1%	$209,000
2489628	Westfield	$2,099,000	$1,890,000	$1,890,000	10.0%	$209,000
2487364	Millburn	$2,895,000	$2,895,000	$2,690,000	7.1%	$205,000
2437485	Randolph	$1,125,000	$950,000	$922,500	18.0%	$202,500
2224253	North Haledon	$950,000	$950,000	$750,000	21.1%	$200,000
2330685	Franklin Lakes	$2,899,999	$2,799,999	$2,700,000	6.9%	$199,999
2324961	Hillsborough	$899,900	$749,900	$700,000	22.2%	$199,900
2459932	Saddle River	$1,999,000	$1,999,000	$1,800,000	10.0%	$199,000
2457635	Millburn	$2,099,000	$2,099,000	$1,900,000	9.5%	$199,000
2476769	Wyckoff	$2,299,000	$2,299,000	$2,100,000	8.7%	$199,000
2471601	Westfield	$1,499,000	$1,399,000	$1,300,000	13.3%	$199,000
2494749	Maplewood	$1,295,000	$1,295,000	$1,100,000	15.1%	$195,000
2493630	Tewksbury	$1,695,000	$1,695,000	$1,500,000	11.5%	$195,000
2416967	Upper Saddle River	$995,000	$895,000	$800,000	19.6%	$195,000
2496171	Summit	$2,995,000	$2,995,000	$2,800,000	6.5%	$195,000
2424441	Morristown	$849,000	$699,000	$655,000	22.9%	$194,000
2458066	Bernards	$1,289,000	$1,289,000	$1,100,000	14.7%	$189,000
2488430	Morris	$1,437,000	$1,337,500	$1,250,000	13.0%	$187,000
2446850	Bridgewater	$1,175,000	$1,075,000	$990,000	15.7%	$185,000
2511976	Westfield	$1,659,000	$1,659,000	$1,475,000	11.1%	$184,000
2492878	Livingston	$1,429,000	$1,299,000	$1,245,000	12.9%	$184,000
2406303	Hawthorne	$729,900	$595,000	$550,000	24.6%	$179,900
2503753	Madison	$2,279,000	$2,279,000	$2,100,000	7.9%	$179,000
2499337	Montville	$1,175,000	$1,175,000	$999,000	15.0%	$176,000
2453239	Elizabeth	$525,000	$399,900	$350,000	33.3%	$175,000
2465937	Franklin Lakes	$1,350,000	$1,325,000	$1,175,000	13.0%	$175,000
2474946	Montville	$1,450,000	$1,399,000	$1,275,000	12.1%	$175,000
2447807	Denville	$424,900	$349,000	$251,500	40.8%	$173,400
2489166	Millburn	$1,195,000	$1,195,000	$1,025,000	14.2%	$170,000
2446861	Washington	$749,000	$649,900	$580,000	22.6%	$169,000
2471827	Bernards	$1,595,000	$1,595,000	$1,430,000	10.3%	$165,000
2283827	Warren	$1,104,950	$935,000	$940,000	14.9%	$164,950
2439497	South Orange Village	$839,900	$719,000	$675,000	19.6%	$164,900
2443225	Hohokus	$599,000	$499,000	$435,000	27.4%	$164,000
2409478	Livingston	$789,000	$695,000	$625,000	20.8%	$164,000
2499359	Montclair	$1,275,000	$1,275,000	$1,112,500	12.7%	$162,500
2402761	Summit City*	$551,500	$399,999	$390,000	29.3%	$161,500
2440529	Raritan	$950,000	$875,000	$790,000	16.8%	$160,000
2454542	Livingston	$729,000	$649,000	$570,000	21.8%	$159,000
2473620	Chatham	$2,499,000	$2,499,000	$2,340,000	6.4%	$159,000
2456402	Boonton Town	$649,000	$499,000	$490,000	24.5%	$159,000
2393054	Paterson	$275,000	$174,900	$120,000	56.4%	$155,000
2499523	Chatham	$1,140,000	$1,099,000	$985,000	13.6%	$155,000
2488575	Montclair	$1,555,000	$1,555,000	$1,400,000	10.0%	$155,000
2488647	Boonton	$2,300,000	$2,400,000	$2,150,000	6.5%	$150,000
2486040	Franklin Lakes	$2,950,000	$2,950,000	$2,800,000	5.1%	$150,000
2475050	Millburn	$2,450,000	$2,350,000	$2,300,000	6.1%	$150,000
2473892	Bridgewater	$749,000	$599,000	$599,000	20.0%	$150,000

John St, Ridgewood NJ

Purchased: 6/30/2006
Purchase Price: $795,000
Current Asking Price: $745,000

MLS# 2819679
Listed: 5/13/2008
List Price: $769,000
Reduced to: $745,000
Active

———————————–

Jerome Ave, Glen Rock NJ

Purchased: 11/7/2005
Purchase Price: $520,000
Current Asking Price: $479,000

MLS# 2723934
Listed: 5/13/2007
List Price: $549,000
Reduced to: $519,000
Withdrawn

MLS# 2809536
Listed: 3/9/2008
List Price: $500,000
Reduced to: $479,000
Active

———————————–

Harrington Street, Hillsdale NJ

Purchased: 3/7/2005
Purchase Price: $635,000
Current Asking Price: $599,000

MLS# 2723934
Listed: 6/11/2007
List Price: $689,000
Withdrawn

MLS# 2742492
Listed: 10/19/2007
List Price: $659,000
Reduced to: $639,000
Expired

MLS# 2817462
Listed: 4/29/2008
List Price: $638,500
Withdrawn

MLS# 2821719
Listed: 5/29/2008
List Price: $599,000
Active

———————————–

Woodland Cross, Westwood NJ

Purchased: 1/6/2006
Purchase Price: $630,000
Sold for: $570,000

MLS# 2748135
Listed: 12/10/2007
List Price: $659,000
Reduced to: $630,000
Withdrawn

MLS# 2808782
Listed: 3/4/2008
List Price: $629,000
Sold: $570,000
Sale Date: 5/27/2008

———————————–

Haworth Ave, Haworth NJ

Purchased: 6/6/2005
Purchase Price: $789,000
Current Asking Price: $769,000

MLS# 2804108
Listed: 1/30/2008
List Price: $829,000
Reduced to: $769,000
Withdrawn

MLS# 2821495
Listed: 5/27/2008
List Price: $769,000
Active

Welcome to another edition of Lowball!

Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller accepts the offer. We take a list of home sales from the past month and pick out the sales that have the highest percentage difference between original list price and selling price.

To keep the list length reasonable, we’re going to use 20% 25%! as the minimum percentage off OLP to be considered a Lowball!

Caveat Emptor!

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2368994	Sussex Boro	$205,000	$124,900	$70,000	65.9%	$135,000
2411956	Lambertville City	$325,000	$325,000	$140,000	56.9%	$185,000
2453525	Long Hill Twp.	$269,000	$195,000	$140,000	48.0%	$129,000
2401728	Newark City	$141,900	$84,900	$75,000	47.1%	$66,900
2285518	Washington Twp.	$295,000	$219,000	$170,000	42.4%	$125,000
2414077	Nutley Twp.	$359,900	$359,900	$212,500	41.0%	$147,400
2417925	Washington Twp.	$321,500	$229,900	$190,000	40.9%	$131,500
2427746	Newark City	$270,000	$240,000	$160,000	40.7%	$110,000
2417836	Irvington Twp.	$323,000	$223,000	$195,000	39.6%	$128,000
2413605	East Orange City	$190,000	$131,500	$115,000	39.5%	$75,000
2428960	Hillsborough Twp.	$369,500	$279,000	$225,000	39.1%	$144,500
2403028	Franklin Boro	$229,900	$179,900	$142,000	38.2%	$87,900
2467296	Haledon Boro	$369,900	$269,900	$230,000	37.8%	$139,900
2463295	Pompton Lakes Boro	$235,000	$169,900	$150,000	36.2%	$85,000
2432852	Morris Twp.	$299,900	$199,900	$193,000	35.6%	$106,900
2449147	Flemington Boro	$350,000	$250,000	$226,000	35.4%	$124,000
2418742	Hillside Twp.	$240,000	$215,000	$155,000	35.4%	$85,000
2340584	Totowa Boro	$1,998,000	$1,730,888	$1,300,000	34.9%	$698,000
2434765	Rockaway Twp.	$1,270,000	$1,270,000	$830,000	34.6%	$440,000
2427557	Chester Twp.	$1,395,000	$1,190,000	$920,000	34.1%	$475,000
2336331	Glen Ridge Boro Twp.	$1,099,000	$975,000	$725,010	34.0%	$373,990
2418827	Phillipsburg Town	$110,900	$79,900	$73,500	33.7%	$37,400
2386089	Mansfield Twp.	$360,000	$265,000	$239,000	33.6%	$121,000
2386428	Wayne Twp.	$424,900	$319,900	$285,000	32.9%	$139,900
2321221	Edison Twp.	$619,900	$450,000	$420,000	32.2%	$199,900
2392687	Peapack Gladstone Boro	$499,000	$399,000	$340,000	31.9%	$159,000
2367804	Sparta Twp.	$824,900	$599,900	$565,000	31.5%	$259,900
2419649	Phillipsburg Town	$108,900	$99,900	$75,000	31.1%	$33,900
2417672	Watchung Boro	$649,900	$535,000	$450,000	30.8%	$199,900
2471011	Paterson City	$98,000	$98,000	$68,000	30.6%	$30,000
2453588	Saddle Brook Twp.	$259,000	$239,000	$180,000	30.5%	$79,000
2420485	Lebanon Twp.	$329,900	$279,900	$230,000	30.3%	$99,900
2438980	Westfield Twp.	$258,000	$205,500	$180,000	30.2%	$78,000
2433182	Irvington Twp.	$190,000	$140,000	$132,600	30.2%	$57,400
2341591	East Hanover Twp.	$829,000	$619,000	$580,000	30.0%	$249,000
2423572	City Of Orange Twp.	$199,900	$179,900	$140,000	30.0%	$59,900
2440094	Washington Twp.	$249,000	$185,000	$175,000	29.7%	$74,000
2440387	Morris Twp.	$939,000	$750,000	$660,000	29.7%	$279,000
2419769	Springfield Twp.	$679,000	$519,900	$480,000	29.3%	$199,000
2448562	Sparta Twp.	$179,000	$159,000	$128,000	28.5%	$51,000
2373884	North Caldwell Boro	$1,250,000	$999,000	$900,000	28.0%	$350,000
2379538	Hillsborough Twp.	$449,900	$350,000	$325,000	27.8%	$124,900
2415055	Haledon Boro	$529,900	$449,900	$383,000	27.7%	$146,900
2446625	Manville Boro	$199,750	$199,750	$145,000	27.4%	$54,750
2453066	Clifton City	$249,000	$224,900	$181,000	27.3%	$68,000
2424561	Bloomfield Twp.	$405,000	$319,000	$295,000	27.2%	$110,000
2410493	Mendham Twp.	$3,400,000	$2,750,000	$2,500,000	26.5%	$900,000
2393550	Franklin Lakes Boro	$649,900	$539,900	$479,521	26.2%	$170,379
2442598	Maplewood Twp.	$1,350,000	$1,150,000	$999,000	26.0%	$351,000
2436442	Hopatcong Boro	$254,900	$195,000	$189,900	25.5%	$65,000
2452266	Hampton Twp.	$294,900	$294,900	$220,000	25.4%	$74,900
2433101	North Plainfield Boro	$315,000	$279,000	$235,000	25.4%	$80,000
2410043	Clinton Twp.	$389,900	$304,900	$292,000	25.1%	$97,900
2462662	Elizabeth City	$120,000	$120,000	$90,000	25.0%	$30,000
2410944	South Orange Village Twp.	$599,900	$579,900	$450,000	25.0%	$149,900

And some high dollar amount lowballs that didn’t make the cutoff.

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2283606	Bernardsville Boro	$7,995,000	$6,850,000	$6,350,000	20.6%	$1,645,000
2302094	North Caldwell Boro	$3,099,000	$2,875,000	$2,500,000	19.3%	$599,000
2435080	Madison Boro	$2,200,000	$1,880,000	$1,675,000	23.9%	$525,000
2388301	Tewksbury Twp.	$2,095,000	$1,699,950	$1,611,600	23.1%	$483,400
2424095	Millburn Twp.	$3,195,000	$3,195,000	$2,725,000	14.7%	$470,000
2382638	Glen Ridge Boro Twp.	$1,895,000	$1,895,000	$1,450,000	23.5%	$445,000
2447856	Millburn Twp.	$3,250,000	$2,995,000	$2,825,000	13.1%	$425,000
2410434	Saddle River Boro	$5,195,000	$5,195,000	$4,800,000	7.6%	$395,000
2414390	Madison Boro	$2,150,000	$1,950,000	$1,775,000	17.4%	$375,000
2441986	Warren Twp.	$1,550,000	$1,275,000	$1,185,000	23.5%	$365,000
2425332	Franklin Lakes Boro	$1,699,000	$1,499,000	$1,360,000	20.0%	$339,000
2431373	Mendham Twp.	$2,399,000	$2,299,000	$2,075,000	13.5%	$324,000
2413040	Kinnelon Boro	$1,279,000	$1,050,000	$960,000	24.9%	$319,000
2395890	Summit City	$1,650,000	$1,550,000	$1,350,000	18.2%	$300,000
2449497	Westfield Twp.	$1,250,000	$1,099,000	$999,999	20.0%	$250,001
2448139	Millburn Twp.	$1,399,000	$1,295,000	$1,160,000	17.1%	$239,000
2379221	Washington Twp.	$929,900	$759,000	$710,000	23.6%	$219,900
2418138	Montville Twp.	$1,100,000	$995,000	$885,000	19.5%	$215,000
2392418	Readington Twp.	$924,000	$750,000	$715,000	22.6%	$209,000
2390267	Washington Twp.	$1,050,000	$860,000	$845,000	19.5%	$205,000
2431140	Allendale Boro	$1,350,000	$1,260,000	$1,150,000	14.8%	$200,000
2378138	Peapack Gladstone Boro	$799,000	$649,000	$600,000	24.9%	$199,000
2403684	Franklin Lakes Boro	$1,999,000	$1,865,000	$1,800,000	10.0%	$199,000
2445489	Bridgewater Twp.	$1,295,000	$1,175,000	$1,100,000	15.1%	$195,000
2398670	Mendham Twp.	$1,185,000	$1,145,000	$991,000	16.4%	$194,000
2459051	Mahwah Twp.	$1,367,000	$1,367,000	$1,175,000	14.0%	$192,000
2427125	Readington Twp.	$860,000	$725,000	$675,000	21.5%	$185,000
2400671	West Orange Twp.	$739,900	$579,000	$560,000	24.3%	$179,900
2406270	Lake Mohawk Byram	$850,000	$750,000	$675,000	20.6%	$175,000
2438424	Essex Fells Twp.	$1,090,000	$999,999	$925,000	15.1%	$165,000
2396547	South Orange Village Twp.	$799,500	$649,500	$639,000	20.1%	$160,500
2448032	Scotch Plains Twp.	$1,150,000	$1,100,000	$999,995	13.0%	$150,005
2390993	Berkeley Heights Twp.	$699,900	$569,900	$549,900	21.4%	$150,000

From the Star Ledger:

The hard sell: Owners have trouble unloading N.J. homes

For James Bednar, the 29-year-old founder of the blog New Jersey Real Estate Report, there’s nothing like a game of “Lowball!” to get a sense of how buyers and sellers are behaving these days.

For those new to the game, it works like this: Every time a buyer makes an offer on a home that’s at least 20 percent below the original listing and the seller accepts it, Bednar takes note of it. Then, every month or so, he takes the most dramatic lowball deals and posts them on his blog.

Like the three-bedroom home on three acres in Watchung that originally listed for $975,000, then was reduced to $775,000 before finally being sold for $620,000. Or the five-bedroom in Mendham that was listed for $1.19 million back in March before being reduced to $949,00 and selling for $900,000 — after 236 days on the market.

“Two years ago… it was difficult for me to get even a handful of lowballs, maybe a dozen at most,” Bednar said. “But when I do the same analysis today, I get back 10 times that number.”

It’s little wonder sellers are getting desperate.

The pace of home sales in New Jersey slowed to a crawl in December, with the volume of sales contracts falling 31 percent year over year, according to Jeffrey Otteau, president of East Brunswick-based Otteau Valuation Group. Not all contracts result in a final sale.

The picture was more bleak in outlying counties such as Sussex and Warren, where “contract sales” were down 42 percent and 44 percent, respectively. “They’re not part of a rail corridor,” Otteau explained. “New Jersey housing is migrating to areas that are transportation efficient.”
…
Joseph Awad is one of the faces behind the abysmal housing statistics.

For the past nine months, Awad, 28, has been trying to sell the two-bedroom house in South Amboy he shares with his wife, Jennifer, 27, and their two children, Hailey, 3 and Nicholas, 11 months. Awad said he was hoping to relocate to North Carolina, because the cost of living there is cheaper than in New Jersey. But he has been unable to find a buyer for his gray, two-story home.

“I’ve had to put everything on hold,” said Awad, a desktop engineer who listed his home in March for $280,000. One month later, after getting no offers, he lowered the asking price to $269,000.

“From that point on, I was reducing the price every 30 days or so until I brought it down to $239,000,” Awad said, slightly more than what he paid for the house two years ago.

Awad eventually got two offers, but in the end, both deals fell through because the prospective buyers could not line up financing. At this point, Awad said he would be lucky to break even.

Others are not so lucky.

Multiple listing services, which publish directories of all properties for sale in New Jersey, are filled with examples of sellers foregoing a profit to unload their homes.

Bednar tracks such deals and posts them on his blog under the heading “Comp Killer” — homes that sell at such a discounted price they negatively effect the value of other properties in the area.

On Jan. 16, for example, a home in Pequannock sold for $550,000 — 11 percent below the price the seller paid for the property in 2005. A home in Watchung sold on Jan. 17 for $450,000 — 32 percent below what the homeowner had paid just last year.

“The marketplace has a crisis of confidence right now,” said Max Spann Jr., who operates a property auction company in Clinton. “People read in the newspaper that the market is bad. They talk to their neighbors. They see the ‘For sale’ signs out for months and months and months, and people are afraid to buy. They’re afraid to overpay.

“They’re afraid the market may go down further, so it has created paralysis.”

Welcome to another edition of Lowball!

Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller accepts the offer. We take a list of home sales from the past month and pick out the sales that have the highest percentage difference between original list price and selling price.

To keep the list length reasonable, we’re going to use 20% as the minimum percentage off OLP to be considered a Lowball!

Caveat Emptor!

Bergen County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
241277	Wyckoff Twp.	$1,200,000	$840,000	$772,000	35.7%	$428,000
240289	East Rutherford Boro	$630,000	$459,000	$435,000	31.0%	$195,000
237865	Franklin Lakes Boro	$2,950,000	$2,950,000	$2,112,500	28.4%	$837,500
240653	Fair Lawn Boro	$524,900	$424,000	$385,000	26.7%	$139,900
235346	Lyndhurst Twp.	$609,900	$489,000	$450,000	26.2%	$159,900
242097	Garfield City	$399,000	$349,000	$295,000	26.1%	$104,000
241453	Wyckoff Twp.	$1,250,000	$1,025,000	$965,000	22.8%	$285,000
230922	Ramsey Boro	$849,925	$669,925	$659,000	22.5%	$190,925
243769	Franklin Lakes Boro	$2,900,000	$2,900,000	$2,275,000	21.6%	$625,000

Essex County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
240147	Newark City	$159,900	$84,900	$83,000	48.1%	$76,900
240172	Newark City	$141,900	$84,900	$75,000	47.1%	$66,900
241360	East Orange City	$190,000	$131,500	$115,000	39.5%	$75,000
241534	Livingston Twp.	$750,000	$500,000	$500,000	33.3%	$250,000
240451	Belleville Twp.	$194,900	$172,500	$136,000	30.2%	$58,900
243097	Millburn Twp.	$1,050,000	$1,050,000	$740,000	29.5%	$310,000
241921	North Caldwell Boro	$570,000	$499,900	$405,000	28.9%	$165,000
241309	Newark City	$259,900	$209,900	$190,000	26.9%	$69,900
237819	Bloomfield Twp.	$339,900	$289,900	$252,000	25.9%	$87,900
237719	Livingston Twp.	$799,000	$639,000	$595,000	25.5%	$204,000
243467	South Orange Village Twp.	$1,259,000	$998,900	$950,000	24.5%	$309,000
245075	Belleville Twp.	$378,170	$378,170	$288,170	23.8%	$90,000
244199	Newark City	$149,900	$124,900	$117,000	21.9%	$32,900
242822	Millburn Twp.	$729,000	$609,000	$570,000	21.8%	$159,000
239670	West Orange Twp.	$459,000	$378,876	$360,000	21.6%	$99,000
239608	Belleville Twp.	$455,000	$369,000	$358,000	21.3%	$97,000
241118	Fairfield Twp.	$539,000	$475,000	$425,000	21.2%	$114,000
244247	West Orange Twp.	$379,000	$359,000	$300,000	20.8%	$79,000

Morris County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
232870	Chatham Twp.	$1,995,000	$1,495,000	$916,000	54.1%	$1,079,000
241989	Harding Twp.	$2,195,000	$1,600,000	$1,250,000	43.1%	$945,000
237165	Butler Boro	$399,900	$319,900	$270,000	32.5%	$129,900
240684	Montville Twp.	$1,225,000	$999,900	$860,000	29.8%	$365,000
244038	Morris Twp.	$939,000	$750,000	$660,000	29.7%	$279,000
241269	Riverdale Boro	$355,000	$290,000	$255,000	28.2%	$100,000
242074	Lincoln Park Boro	$349,900	$259,900	$255,000	27.1%	$94,900
242169	Denville Twp.	$310,000	$284,900	$230,000	25.8%	$80,000
238321	Mendham Twp.	$1,199,000	$949,000	$900,000	24.9%	$299,000
232932	Randolph Twp.	$550,000	$435,000	$415,000	24.5%	$135,000
239620	Denville Twp.	$429,999	$334,900	$325,000	24.4%	$104,999
242631	Chester Boro	$525,000	$450,000	$400,000	23.8%	$125,000
236764	Dover Town	$359,900	$299,900	$275,000	23.6%	$84,900
241150	Netcong Boro	$299,900	$225,000	$230,000	23.3%	$69,900
242580	Lincoln Park Boro	$405,000	$329,900	$315,000	22.2%	$90,000
240309	Parsippany-Troy Hills Twp.	$399,900	$337,500	$315,000	21.2%	$84,900
239036	Mount Olive Twp.	$459,000	$390,000	$365,000	20.5%	$94,000
241513	Wharton Boro	$249,900	$215,000	$198,940	20.4%	$50,960

Passaic County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
236418	Wayne Twp.	$169,900	$79,900	$55,000	67.6%	$114,900
241630	Wayne Twp.	$69,900	$69,900	$45,160	35.4%	$24,740
241505	Haledon Boro	$529,900	$449,900	$383,000	27.7%	$146,900
241396	Pompton Lakes Boro	$419,900	$345,000	$305,000	27.4%	$114,900
241642	Passaic City	$289,000	$229,900	$215,000	25.6%	$74,000
240484	West Milford Twp.	$135,000	$135,000	$103,000	23.7%	$32,000
239170	Wayne Twp.	$1,389,000	$1,199,900	$1,085,000	21.9%	$304,000
243664	Wayne Twp.	$924,900	$799,999	$725,000	21.6%	$199,900
243473	Hawthorne Boro	$489,000	$429,900	$385,000	21.3%	$104,000
242706	Clifton City	$389,900	$359,000	$310,000	20.5%	$79,900
239972	Paterson City	$439,900	$380,000	$350,000	20.4%	$89,900

Somerset County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2451946	Watchung Boro	$975,000	$775,000	$620,000	36.4%	$355,000
2392687	Peapack Gladstone Boro	$499,000	$399,000	$340,000	31.9%	$159,000
2416743	Hillsborough Twp.	$374,900	$299,900	$277,500	26.0%	$97,400
2433101	North Plainfield Boro	$315,000	$279,000	$235,000	25.4%	$80,000
2446635	Bound Brook Boro	$310,000	$274,900	$235,000	24.2%	$75,000
2403792	Bridgewater Twp.	$560,000	$455,000	$427,000	23.8%	$133,000
2396187	Watchung Boro	$1,499,000	$1,499,000	$1,155,000	22.9%	$344,000
2418420	Bound Brook Boro	$339,900	$299,900	$265,000	22.0%	$74,900

Sussex County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2236725	Fredon Twp.	$1,100,000	$890,000	$675,000	38.6%	$425,000
2425734	Newton Town	$334,900	$219,900	$219,000	34.6%	$115,900
2418768	Hopatcong Boro	$384,900	$269,900	$265,000	31.2%	$119,900
2419901	Stillwater Twp.	$299,999	$229,000	$219,900	26.7%	$80,099
2306895	Andover Boro	$319,000	$299,000	$236,000	26.0%	$83,000
2323293	Hardyston Twp.	$679,900	$549,000	$508,000	25.3%	$171,900
2421170	Byram Twp.	$354,900	$294,900	$265,920	25.1%	$88,980
2423114	Byram Twp.	$319,000	$263,000	$243,000	23.8%	$76,000
2395268	Hopatcong Boro	$399,997	$329,000	$305,000	23.7%	$94,997
2408464	Vernon Twp.	$265,000	$229,900	$205,000	22.6%	$60,000
2370721	Hampton Twp.	$319,900	$280,000	$250,000	21.9%	$69,900
2415402	Hampton Twp.	$274,900	$240,000	$215,000	21.8%	$59,900
2409837	Frankford Twp.	$239,000	$197,000	$187,500	21.5%	$51,500
2411234	Vernon Twp.	$275,000	$229,000	$217,000	21.1%	$58,000
2451599	Lafayette Twp.	$283,000	$274,000	$225,000	20.5%	$58,000

Hunterdon County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2367977	Hampton Boro	$325,000	$245,000	$240,000	26.2%	$85,000
2399454	Clinton Twp.	$550,000	$479,900	$409,000	25.6%	$141,000
2410043	Clinton Twp.	$389,900	$304,900	$292,000	25.1%	$97,900
2388301	Tewksbury Twp.	$2,095,000	$1,699,950	$1,611,600	23.1%	$483,400
2392418	Readington Twp.	$924,000	$750,000	$715,000	22.6%	$209,000
2443444	High Bridge Boro	$242,000	$229,900	$190,000	21.5%	$52,000
2428687	East Amwell Twp.	$347,500	$309,900	$275,000	20.9%	$72,500
2400049	Readington Twp.	$575,000	$525,000	$460,000	20.0%	$115,000

Warren County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2414608	Phillipsburg Town	$116,900	$69,900	$33,000	71.8%	$83,900
2368439	Washington Twp.	$301,900	$214,900	$195,000	35.4%	$106,900
2430255	Belvidere Twp.	$94,900	$79,900	$65,000	31.5%	$29,900
2446890	Oxford Twp.	$26,000	$22,000	$19,000	26.9%	$7,000
2380755	Frelinghuysen Twp.	$599,000	$479,000	$447,500	25.3%	$151,500
2424875	Washington Twp.	$249,000	$199,999	$192,000	22.9%	$57,000
2431122	Blairstown Twp.	$324,900	$289,900	$255,000	21.5%	$69,900
2365615	Franklin Twp.	$225,000	$225,000	$180,000	20.0%	$45,000

Union County

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2436996	Elizabeth City	$499,999	$350,000	$300,000	40.0%	$199,999
2452459	Springfield Twp.	$499,999	$349,999	$321,000	35.8%	$178,999
2419493	Union Twp.	$468,850	$369,850	$340,000	27.5%	$128,850
2409663	Plainfield City	$232,000	$169,000	$169,000	27.2%	$63,000
2434622	New Providence Boro	$579,000	$500,000	$425,000	26.6%	$154,000
2242383	Roselle Boro	$324,900	$249,900	$240,000	26.1%	$84,900
2318447	Elizabeth City	$344,900	$279,900	$260,000	24.6%	$84,900
2391449	Elizabeth City	$440,000	$369,000	$338,000	23.2%	$102,000
2412073	Cranford Twp.	$485,000	$419,000	$375,000	22.7%	$110,000
2439139	Elizabeth City	$400,000	$400,000	$310,000	22.5%	$90,000
2426297	Berkeley Heights Twp.	$665,000	$549,000	$525,000	21.1%	$140,000
2250306	Elizabeth City	$415,000	$379,900	$330,000	20.5%	$85,000
2444710	Rahway City	$274,900	$249,900	$220,000	20.0%	$54,900

Welcome to another edition of Lowball!

Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller accepts the offer. We take a list of home sales from the past month and pick out the sales that have the highest percentage difference between original list price and selling price.

Since I haven’t done a Lowball! in a few months, there is quite a bit of data to be displayed. To make it easier to post, as well as easier on me, I’m going to post these up on a county-by-county basis over the next few days. We’re going to start with Bergen, and move through the counties alphabetically. Keep in mind the Bergen Lowball! sales are sourced from GSMLS, not NJMLS, so a significant number of sales are missing from the data.

On to the list!

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2337734	Hackensack City	$1,175,000	$925,000	$850,000	27.7%	$325,000
2389558	Ramsey Boro	$1,250,000	$999,938	$950,000	24.0%	$300,000
2345985	Garfield City	$319,900	$265,000	$245,000	23.4%	$74,900
2383480	Ridgewood Village	$729,900	$565,000	$560,000	23.3%	$169,900
2392716	Oakland Boro	$444,500	$359,900	$350,000	21.3%	$94,500
2352992	Fair Lawn Boro	$400,000	$300,000	$318,000	20.5%	$82,000
2359059	Oakland Boro	$419,000	$375,000	$335,000	20.0%	$84,000
2370524	Glen Rock Boro	$1,245,000	$1,073,000	$998,000	19.8%	$247,000
2363313	Glen Rock Boro	$1,150,000	$1,050,000	$930,000	19.1%	$220,000
2351448	Wyckoff Twp.	$799,900	$699,000	$650,000	18.7%	$149,900
2288917	Franklin Lakes	$719,900	$639,000	$585,000	18.7%	$134,900
2239795	Fair Lawn Boro	$369,000	$337,900	$300,000	18.7%	$69,000
2304593	Rutherford Boro	$599,000	$525,000	$490,000	18.2%	$109,000
2343246	Ridgewood Village	$689,000	$599,900	$565,000	18.0%	$124,000
2379258	Harrington Park	$634,900	$536,000	$521,000	17.9%	$113,900
2366677	Hillsdale Boro	$999,000	$849,900	$825,000	17.4%	$174,000
2381954	Ridgewood Village	$575,000	$500,000	$475,000	17.4%	$100,000
2373561	Garfield City	$399,000	$379,900	$330,000	17.3%	$69,000
2385159	Fair Lawn Boro	$409,900	$369,900	$340,000	17.1%	$69,900
2387977	Fair Lawn Boro	$239,000	$219,000	$200,000	16.3%	$39,000
2326403	Waldwick Boro	$639,000	$599,000	$535,000	16.3%	$104,000
2359581	Fair Lawn Boro	$739,000	$649,000	$620,000	16.1%	$119,000
2344733	Saddle River Boro	$2,499,000	$2,299,000	$2,100,000	16.0%	$399,000
2396552	Ridgewood Village	$1,495,000	$1,385,000	$1,260,000	15.7%	$235,000
2388007	Fair Lawn Boro	$239,000	$219,000	$201,500	15.7%	$37,500
2370727	Rutherford Boro	$258,900	$238,000	$219,000	15.4%	$39,900
2409191	Franklin Lakes	$1,999,900	$1,999,900	$1,700,000	15.0%	$299,900
2327838	Waldwick Boro	$599,000	$529,900	$510,000	14.9%	$89,000
2328085	Tenafly Boro	$1,387,000	$1,255,000	$1,190,000	14.2%	$197,000
2384248	Oakland Boro	$739,900	$739,900	$635,000	14.2%	$104,900
2304254	Oakland Boro	$529,900	$469,900	$455,000	14.1%	$74,900
2320344	Mahwah Twp.	$559,000	$524,000	$480,000	14.1%	$79,000
2409177	Emerson Boro	$899,900	$849,900	$775,000	13.9%	$124,900
2412730	Franklin Lakes	$8,445,000	$8,445,000	$7,300,000	13.6%	$1.145m
2370198	Ridgewood Village	$925,000	$795,000	$800,000	13.5%	$125,000
2318280	Paramus Boro	$379,000	$349,900	$330,000	12.9%	$49,000
2398117	Lodi Boro	$327,000	$319,000	$285,000	12.8%	$42,000
2387315	Garfield City	$389,900	$369,900	$340,000	12.8%	$49,900
2395588	Ridgewood Village	$749,000	$699,000	$655,000	12.6%	$94,000
2300974	Mahwah Twp.	$849,000	$774,900	$742,500	12.5%	$106,500
2372219	Rochelle Park Twp.	$479,900	$439,900	$420,000	12.5%	$59,900
2402380	Glen Rock Boro	$439,900	$424,900	$385,000	12.5%	$54,900
2378161	Wyckoff Twp.	$899,900	$825,000	$789,000	12.3%	$110,900
2390180	Wyckoff Twp.	$815,000	$749,900	$714,800	12.3%	$100,200
2304941	Saddle Brook Twp.	$469,900	$445,000	$412,500	12.2%	$57,400
2384515	Wyckoff Twp.	$1,195,000	$1,135,000	$1,050,000	12.1%	$145,000
2399768	Midland Park Boro	$995,000	$919,000	$875,000	12.1%	$120,000
2392235	Oakland Boro	$699,000	$629,000	$615,000	12.0%	$84,000
2390143	Allendale Boro	$1,079,000	$989,000	$950,000	12.0%	$129,000
2366817	Waldwick Boro	$464,900	$435,000	$410,000	11.8%	$54,900
2363581	Ridgewood Village	$1,700,000	$1,700,000	$1,500,000	11.8%	$200,000
2325320	Allendale Boro	$699,000	$619,000	$620,000	11.3%	$79,000
2378810	Wyckoff Twp.	$689,000	$649,000	$612,000	11.2%	$77,000
2320022	Upper Saddle River	$1,095,000	$999,900	$975,000	11.0%	$120,000
2316931	Rutherford Boro	$480,000	$460,000	$427,500	10.9%	$52,500
2381664	Ridgewood Village	$595,000	$565,000	$530,000	10.9%	$65,000
2335667	Waldwick Boro	$425,000	$385,000	$379,812	10.6%	$45,188
2383061	Oakland Boro	$575,000	$525,000	$514,000	10.6%	$61,000
2359654	River Edge Boro	$559,000	$537,000	$500,000	10.6%	$59,000
2382077	Ridgewood Village	$689,999	$639,000	$617,500	10.5%	$72,499
2366742	Ramsey Boro	$550,000	$518,000	$493,000	10.4%	$57,000
2417655	Elmwood Park	$484,900	$465,000	$435,000	10.3%	$49,900
2319779	Upper Saddle River	$924,900	$849,900	$830,000	10.3%	$94,900
2379186	Mahwah Twp.*	$919,000	$850,000	$825,000	10.2%	$94,000
2415583	Fair Lawn Boro	$529,000	$499,000	$475,000	10.2%	$54,000
2379809	Tenafly Boro	$739,000	$669,000	$664,000	10.1%	$75,000
2362254	North Arlington Boro	$345,000	$310,000	$310,000	10.1%	$35,000
2294893	Wyckoff Twp.	$739,900	$739,900	$665,000	10.1%	$74,900
2385816	Wyckoff Twp.	$839,900	$839,900	$755,000	10.1%	$84,900
2380369	Upper Saddle River	$1,099,000	$1,099,000	$989,000	10.0%	$110,000
2413091	Ridgewood Village	$524,900	$499,000	$472,500	10.0%	$52,400
2391823	Garfield City	$399,900	$389,000	$360,000	10.0%	$39,900

Welcome to another edition of Lowball!

Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller accepts the offer. We take a list of home sales from the past month and pick out the sales that have the highest percentage difference between original list price and selling price.

The purpose of Lowball! is to show buyers that the market has changed and buyers now have considerably more leverage than sellers. Just a short time ago, Lowball! offers would have been laughed at and discarded, however, not any more. The fact that so many under-asking offers are being accepted is clear proof that the market is changing.

MLS	Town	OLP	LP	SP	% off OLP	$ off OLP
2363053	East Orange City	$169,900	$67,900	$63,000	62.9%	$106,900
2343436	Branchburg Twp.	$25,000	$17,000	$13,500	46.0%	$11,500
2335411	White Twp.	$99,900	$69,000	$55,500	44.4%	$44,400
2388027	Montague Twp.*	$262,500	$159,900	$159,900	39.1%	$102,600
2359771	Phillipsburg Town*	$120,000	$95,000	$75,000	37.5%	$45,000
2358403	Elizabeth City*	$419,900	$299,900	$265,000	36.9%	$154,900
2323942	City Of Orange Twp.*	$239,900	$158,999	$153,000	36.2%	$86,900
2311072	West Milford Twp.	$318,501	$225,000	$210,000	34.1%	$108,501
2040082	Montville Twp.	$799,000	$649,000	$537,000	32.8%	$262,000
2342858	Jersey City*	$235,500	$177,500	$161,000	31.6%	$74,500
2367803	Paterson City*	$362,500	$259,900	$250,000	31.0%	$112,500
2278330	Millburn Twp.	$3,195,000	$2,540,000	$2,215,000	30.7%	$980,000
2354260	East Orange City	$230,000	$210,000	$160,000	30.4%	$70,000
2310008	Newark City	$230,000	$170,000	$160,000	30.4%	$70,000
2338764	Vernon Twp.	$236,500	$175,000	$165,000	30.2%	$71,500
2381569	Summit City	$669,000	$469,000	$469,000	29.9%	$200,000
2291434	Lambertville City*	$323,400	$254,000	$230,000	28.9%	$93,400
2384074	Bedminster Twp.	$354,900	$254,900	$253,000	28.7%	$101,900
2261925	Edison Twp.	$419,900	$319,900	$300,000	28.6%	$119,900
2327519	West Milford Twp.*	$424,900	$319,900	$305,000	28.2%	$119,900
2333550	Caldwell Boro Twp.	$535,000	$415,900	$385,000	28.0%	$150,000
2326900	Springfield Twp.	$485,000	$379,900	$350,000	27.8%	$135,000
2381653	Woodbridge Twp.*	$414,000	$314,000	$300,000	27.5%	$114,000
2336362	Glen Ridge Boro Twp.	$999,000	$790,000	$727,000	27.2%	$272,000
2329811	Roselle Boro*	$409,900	$300,000	$300,000	26.8%	$109,900
2303748	Rocky Hill Boro*	$439,900	$339,999	$322,000	26.8%	$117,900
2248078	West Orange Twp.	$599,900	$455,900	$440,000	26.7%	$159,900
2304099	Morris Twp.	$1,495,000	$1,149,000	$1,100,000	26.4%	$395,000
2351070	Lopatcong Twp.	$209,900	$164,900	$154,500	26.4%	$55,400
2393638	Roselle Boro	$275,000	$250,000	$202,500	26.4%	$72,500
2318656	South Orange Village	$1,351,080	$999,999	$999,999	26.0%	$351,081
2353613	Millburn Twp.	$2,695,000	$2,125,000	$2,000,000	25.8%	$695,000
2320749	Ogdensburg Boro	$333,000	$259,000	$247,200	25.8%	$85,800
2385843	South Bound Brook	$254,900	$254,900	$190,000	25.5%	$64,900
2336039	Jefferson Twp.*	$435,000	$425,000	$325,000	25.3%	$110,000
2379470	Paterson City*	$179,900	$150,000	$135,000	25.0%	$44,900
2387981	Piscataway Twp.*	$472,500	$339,900	$355,000	24.9%	$117,500
2287822	Mendham Boro	$585,000	$460,000	$440,000	24.8%	$145,000
2270294	Madison Boro*	$525,000	$399,999	$395,000	24.8%	$130,000
2288631	Ogdensburg Boro	$339,900	$299,000	$256,500	24.5%	$83,400
2388493	Elizabeth City	$204,900	$204,900	$155,000	24.4%	$49,900
2353189	Vernon Twp.*	$349,000	$265,000	$265,000	24.1%	$84,000
2333985	Old Bridge Twp.	$207,000	$189,000	$157,500	23.9%	$49,500
2322258	Pequannock Twp.	$499,000	$439,000	$380,000	23.8%	$119,000
2372169	East Orange City	$112,875	$95,545	$86,000	23.8%	$26,875
2346078	Franklin Twp.*	$195,999	$179,900	$150,000	23.5%	$45,999
2285801	Franklin Lakes Boro	$1,995,000	$1,699,000	$1,530,000	23.3%	$465,000
2259194	Millburn Twp.	$1,595,000	$1,349,000	$1,225,000	23.2%	$370,000
2326177	Passaic City	$395,000	$335,000	$305,000	22.8%	$90,000
2365258	Maplewood Twp.	$549,900	$495,900	$425,000	22.7%	$124,900
2284548	Mendham Boro	$565,000	$449,950	$440,000	22.1%	$125,000
2347438	Franklin Boro	$79,500	$65,000	$62,000	22.0%	$17,500
2314194	Hillsborough Twp.	$525,000	$460,000	$410,000	21.9%	$115,000
2298241	East Orange City	$199,900	$150,000	$156,200	21.9%	$43,700
2351110	West Milford Twp.	$248,900	$224,900	$195,000	21.7%	$53,900
2339321	Clifton City	$389,000	$329,900	$305,000	21.6%	$84,000
2289139	Paterson City	$184,900	$149,900	$145,000	21.6%	$39,900
2359926	Paterson City	$148,900	$129,000	$117,000	21.4%	$31,900
2280286	Hardyston Twp.	$349,900	$279,900	$275,000	21.4%	$74,900
2361272	Fairfield Twp.	$449,900	$370,800	$355,000	21.1%	$94,900
2280124	Edison Twp.*	$658,000	$529,000	$520,000	21.0%	$138,000
2385914	Bridgewater Twp.*	$309,900	$299,900	$245,000	20.9%	$64,900
2290258	Newark City*	$360,000	$319,900	$285,000	20.8%	$75,000
2380205	Ringwood Boro	$239,900	$239,900	$190,000	20.8%	$49,900
2331386	Linden City	$265,000	$210,100	$210,100	20.7%	$54,900
2325085	Springfield Twp.*	$614,500	$519,000	$487,500	20.7%	$127,000
2405957	Bridgewater Twp.*	$189,000	$189,000	$150,000	20.6%	$39,000
2319474	Nutley Twp.*	$849,900	$689,000	$675,000	20.6%	$174,900
2370225	Bloomfield Twp.	$339,900	$275,000	$270,000	20.6%	$69,900
2283696	Allamuchy Twp.	$439,900	$380,000	$350,000	20.4%	$89,900
2267873	Franklin Lakes Boro	$1,200,000	$1,099,000	$957,000	20.3%	$243,000
2364336	Pohatcong Twp.	$699,000	$569,000	$558,000	20.2%	$141,000
2270570	Mendham Twp.	$749,900	$599,900	$599,900	20.0%	$150,000
2390298	Parsippany-Troy Hills	$299,900	$299,900	$240,000	20.0%	$59,900

Welcome to another edition of Lowball!

Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller accepts the offer. We take a list of home sales from the past month and pick out the sales that have the highest percentage difference between original list price and selling price.

The purpose of Lowball! is to show buyers that the market has changed and buyers now have considerably more leverage than sellers. Just a short time ago, Lowball! offers would have been laughed at and discarded, however, not any more. The fact that so many under-asking offers are being accepted is clear proof that the market is changing.

MLS#	Town	OLP	LP	SP	% off LP	$ off LP
2368012	Oxford Twp.	$8,000	$5,000	$4,000	50.0%	$4,000
2304950	West Orange Twp.	$649,000	$399,900	$350,000	46.1%	$299,000
2272503	Alexandria Twp.	$899,000	$499,000	$500,000	44.4%	$399,000
2306192	Edison Twp.	$649,900	$599,000	$362,500	44.2%	$287,400
2361990	Ringwood Boro	$349,888	$299,888	$200,000	42.8%	$149,888
2298084	Montvale Boro	$1,899,000	$1,199,000	$1,155,000	39.2%	$744,000
2305085	Chatham Twp.	$1,699,000	$1,199,000	$1,100,000	35.3%	$599,000
2308568	White Twp.	$185,000	$159,900	$127,500	31.1%	$57,500
2274148	Saddle River Boro	$4,750,000	$3,275,000	$3,275,000	31.1%	$1,475,000
2274382	Hillsborough Twp.	$1,425,000	$1,098,000	$999,000	29.9%	$426,000
2293051	Rutherford Boro	$899,900	$799,900	$640,000	28.9%	$259,900
2372197	Roselle Boro	$245,000	$245,000	$175,000	28.6%	$70,000
2323597	Washington Twp.	$479,900	$349,900	$349,900	27.1%	$130,000
2307