Lowball

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Sat 7 Feb 2009

Morris County Comp Killers

Categories: Comp Killer , Housing Bubble , Lowball , New Jersey Real Estate
[317] Comments 

Take a deep breath, a sip of coffee, and repeat after me:

Home prices can fall.

Home prices can fall.

Home prices can fall farther than I believe possible.

Home prices can fall for longer I believe possible.

My/Your home is not different.

My/Your street is not different.

My/Your town is not different.

It is not different here.

Home prices are falling and will continue to fall.

Here are a selected group of properties that have closed in Morris over the past month or two. It might help to read about what a comp killer is. Realize that I’m not trying to say that these properties are “good deals”, many of them are not. But what they do show is that prices can, and will fall. This crosses geographic areas, price ranges, shapes and sizes.


Fairfax Terrace, Chatham Twp
Purchased: 7/27/2004
Purchase Price: $765,000
Sold: 1/13/2009
Sale Price: $731,000
4.4% under the 2004 purchase price. 4.4% isn’t a big drop, but keep in mind we’re talking about a mid-2004 purchase price here. Prices were high in 2004, but they went much higher in 2005 and 2006.


Sheepfield Farms Drive, Harding
Purchased: 12/15/2006
Purchase Price: $3,500,000
Sold: 2/4/2009
Sale Price: $3,250,000
7% under the 2006 purchase price. Not a huge drop but we are talking about serious money here. You are looking at a loss of more than $400,000 on this transaction.


Spice Bush Road, Kinnelon
Purchased: 3/1/2006
Purchase Price: $837,500
Sold: 2/6/2009
Sale Price: $667,000 (foreclosure)
Roughly 20% under the 2006 purchase price. This is pretty steep drop for a property in the Smoke Rise community. This foreclosure was taken by the lender in November of 2007.


Lorraine Road, Madison
Purchased: 9/2/2004
Purchase Price: $662,500
Sold: 1/5/2009
Sale Price: $575,000
This is another property where you’ll need to take into account the purchase date. We’re talking about 13% below a 2004 price here. This is a loss of approximately $155k over 4 and a half years of ownership. If you are buying, you’ve got to have a much longer time horizon than this.


Baumgartner Drive, Madison
Purchased: 8/31/2006
Purchase Price: $1,015,000
Sold: 2/2/2009
Sale Price: $830,000
Another big chop for upscale Madison NJ. Approximately 18% under a 2006 purchase price. While this is bad, can you imagine being the guy who bought the very similar house next door for $1,235,000 in 2006?


Walsingham Road, Mendham Twp
Purchased: 6/14/2007
Purchase Price: $1,085,000
Sold: 1/30/2009
Sale Price: $835,000


Lakewood Drive, Denville
Purchased: 7/11/2007
Purchase Price: $545,000
Sold: 1/13/2009
Sale Price: $460,000


Schoolhouse Road, Jefferson
Purchased: 1/26/2007
Purchase Price: $600,000
Sold: 1/27/2009
Sale Price: $440,000


Fairmount Ave, Morris Twp
Purchased: 4/17/2007
Purchase Price: $548,000
Sold: 1/15/2009
Sale Price: $485,000


Sun Valley Way, Morris Plains
Purchased: 9/27/2004
Purchase Price: $489,000
Sold: 1/16/2009
Sale Price: $445,000


Saunders Lane, Hackettstown/Mt. Olive
Purchased: 11/14/2003
Purchase Price: $548,000
Sold: 1/14/2009
Sale Price: $500,000

 

Fri 6 Feb 2009

Montclair Comp Killer!

Categories: Comp Killer , Housing Bubble , Lowball , New Jersey Real Estate
[326] Comments 

Not a Friday afternoon without a comp killer and a bank failure.

Today’s comp killer comes to us from prestigious Upper Montclair, NJ.

This property was acquired by the prior owner during the very frothy Summer 2005 market, in fact, this property was purchased right around the time that the Northern New Jersey Real Estate Bubble Blog (whew!) was founded.

This 3 bedroom, 2 bath beauty was purchased in July of 2005 for what now seems like a completely outrageous sum, $709,000. In bubble market style, the “winning bidder” paid more than $50,000 over asking. Losing bidder would probably be a more accurate description. This kind of overbidding was the norm in 2005. I’ve told the story here before, so I won’t repeat, but I was a bidder on a $500k property that summer that ended up selling for $700k. You know, this very well have been me.

Anyhow, the property came back on the market less than a year later for $774,900. Huh? Yeah, it sat for 70 days before it was withdrawn. They cut the price to $699k, but it didn’t do any good. Flip gone flop? Please tell me the owners didn’t expect a $70,000 bonus for house sitting through the winter.

Seller tried the same game again in 2007, came on the market in March for $639,000. Surprising right? Priced at a loss in 2007 and it didn’t sell. 83 days later it was withdrawn.

Fast forward, 2008, came on the market AGAIN in April. List price was now $599,000, an aggressive price that would leave the seller taking a loss of approximately $130,000. It went under contract this past December, and the closing took place in late January.

The sale price?

$528,110

A loss of more than $200,000 once you factor in the commission! The sale price was 25% below the 2005 purchase price. I thought prices didn’t go down in Upper Montclair?

So much for Montclair real estate!

 

Sun 29 Jun 2008

Weekend Comp Killer!

Categories: Comp Killer , Housing Bubble , Lowball , New Jersey Real Estate
[154] Comments 

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

 

Sun 22 Jun 2008

Lowball - May/June 2008

Categories: Lowball
[113] Comments 

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

 

Fri 30 May 2008

Comp Killer!

Categories: Comp Killer , Lowball , New Jersey Real Estate
[430] Comments 

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

 

Sun 3 Feb 2008

Lowball! January 2008

Categories: Lowball
[31] Comments 

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

 

Sun 6 Jan 2008

Lowball! December 2007

Categories: Lowball , New Jersey Real Estate
[30] Comments 

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  

 

Mon 3 Sep 2007

Lowball! Bergen County 7/1-9/2

Categories: Lowball
[38] Comments 

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

 

Sat 23 Jun 2007

Lowball! May 23 - June 23, 2007

Categories: Lowball
[42] Comments 

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  

 

Mon 23 Apr 2007

Lowball April 1-15, 2007

Categories: Lowball
[5] Comments 

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
2307799 Readington Twp. $1,199,999 $999,500 $880,000 26.7% $319,999
2337613 Newark City $1,200,000 $995,000 $882,000 26.5% $318,000
2233795 Bernardsville Boro $995,000 $750,000 $750,000 24.6% $245,000
2276485 Roxbury Twp. $419,000 $315,000 $318,000 24.1% $101,000
2047631 Boonton Twp. $5,800,000 $4,600,000 $4,450,000 23.3% $1,350,000
2260814 Hardyston Twp. $389,999 $325,000 $300,000 23.1% $89,999
2324123 Wharton Boro $424,900 $399,900 $330,000 22.3% $94,900
2209674 Paterson City $1,149,000 $999,000 $900,000 21.7% $249,000
2356137 Stockton Boro $220,000 $220,000 $175,000 20.5% $45,000
2321907 Hampton Twp. $475,000 $430,000 $378,750 20.3% $96,250
2355043 Sparta Twp. $1,499,900 $1,499,900 $1,200,000 20.0% $299,900
2314562 Fanwood Boro $549,900 $459,900 $440,000 20.0% $109,900
2249970 Lebanon Twp. $449,900 $379,000 $360,000 20.0% $89,900
2297862 Vernon Twp. $309,000 $249,000 $249,000 19.4% $60,000
2352514 Mountain Lakes Boro $899,000 $722,900 $725,000 19.4% $174,000
2233902 Green Brook Twp. $989,000 $849,000 $800,000 19.1% $189,000
2262636 Vernon Twp. $784,900 $669,900 $635,000 19.1% $149,900
2363869 Frankford Twp. $219,900 $219,900 $178,000 19.1% $41,900
2348763 Lambertville City $462,500 $395,000 $375,000 18.9% $87,500
2291858 Linden City $320,000 $269,900 $260,000 18.8% $60,000
2353810 Teaneck Twp. $429,900 $379,900 $350,000 18.6% $79,900
2311730 Montague Twp. $129,900 $119,900 $106,000 18.4% $23,900
2267860 Harding Twp. $2,199,000 $1,999,000 $1,800,000 18.1% $399,000
2326023 Verona Twp. $299,000 $259,000 $245,000 18.1% $54,000
2341169 Nutley Twp. $549,000 $499,900 $451,000 17.9% $98,000
2255520 Franklin Boro $215,000 $190,000 $177,000 17.7% $38,000
2262195 Rocky Hill Boro $745,000 $629,900 $615,000 17.4% $130,000
2316269 Berkeley Heights Twp. $998,900 $899,500 $825,000 17.4% $173,900
2301521 West Milford Twp. $690,000 $579,900 $570,000 17.4% $120,000
2296338 South Bound Brook Boro $269,900 $239,900 $223,000 17.4% $46,900
2312528 Harding Twp. $950,000 $859,000 $785,000 17.4% $165,000
2304005 Phillipsburg Town $144,900 $126,000 $120,000 17.2% $24,900
2282128 Byram Twp. $453,000 $395,000 $376,000 17.0% $77,000
2304486 Woodbridge Twp. $259,000 $225,000 $215,000 17.0% $44,000
2321414 Plainfield City $449,900 $409,900 $375,000 16.6% $74,900
2372409 Union Twp. $299,900 $299,900 $250,000 16.6% $49,900
2356332 Jefferson Twp. $149,900 $149,900 $125,000 16.6% $24,900

Sales data can be found here: Sales-Apr07a.xls (In Excel format)

 

Sat 24 Mar 2007

Lowball! March 2007

Categories: Lowball
[19] Comments 

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.

The first table below contains Lowball sales of 20% or greater off the Original List Price.

 MLS  Town  OLP  LP  SP  % off OLP  $ off OLP
2223440 Hardyston Twp. $179,900 $143,000 $95,000 47.2% $84,900
2277922 Independence Twp. $450,000 $275,000 $250,000 44.4% $200,000
2336286 Phillipsburg Town $159,900 $115,000 $90,000 43.7% $69,900
2321999 Elizabeth City $479,900 $479,900 $290,000 39.6% $189,900
2226538 Blairstown Twp. $650,000 $495,000 $425,000 34.6% $225,000
2327755 Branchburg Twp. $450,000 $399,900 $300,000 33.3% $150,000
2354690 Mendham Twp. $1,200,000 $1,200,000 $825,000 31.3% $375,000
2275609 Stillwater Twp. $239,900 $199,900 $168,000 30.0% $71,900
2360200 Wanaque Boro $450,000 $450,000 $320,000 28.9% $130,000
2245985 Mahwah Twp. $775,000 $599,900 $555,000 28.4% $220,000
2277032 Andover Twp. $3,500,000 $2,900,000 $2,538,000 27.5% $962,000
2256538 Lake Mohawk Sparta $2,500,900 $2,000,000 $1,815,000 27.4% $685,900
2270544 Berkeley Heights Twp. $599,900 $449,999 $440,000 26.7% $159,900
2241307 Hillside Twp. $380,000 $285,000 $280,000 26.3% $100,000
2268877 Livingston Twp. $849,900 $669,900 $630,000 25.9% $219,900
2336323 Hopatcong Boro $184,500 $144,900 $138,000 25.2% $46,500
2274990 Millburn Twp. $3,495,000 $2,800,000 $2,620,000 25.0% $875,000
2270841 Roselle Boro $259,000 $225,000 $195,000 24.7% $64,000
2316407 Montgomery Twp. $1,680,000 $1,399,900 $1,265,000 24.7% $415,000
2310373 Hackettstown Town $329,900 $274,900 $250,000 24.2% $79,900
2311859 Lake Mohawk Sparta $369,000 $279,900 $279,900 24.1% $89,100
2313471 Chatham Twp. $1,595,000 $1,299,000 $1,210,000 24.1% $385,000
2337539 Roxbury Twp. $294,900 $275,900 $225,000 23.7% $69,900
2235213 Newark City $249,000 $199,900 $190,000 23.7% $59,000
2276023 Montclair Twp. $379,000 $299,900 $290,000 23.5% $89,000
2329206 Mount Olive Twp. $319,000 $299,000 $244,300 23.4% $74,700
2267386 Lebanon Twp. $675,000 $525,000 $520,000 23.0% $155,000
2320682 Kinnelon Boro $630,000 $579,900 $490,000 22.2% $140,000
2334078 Union Twp. $385,000 $300,000 $300,000 22.1% $85,000
2307467 Bridgewater Twp. $389,900 $354,900 $305,000 21.8% $84,900
2306015 Lambertville City $575,000 $530,000 $450,000 21.7% $125,000
2274266 West Milford Twp. $277,900 $248,700 $217,500 21.7% $60,400
2313686 Bernards Twp. $695,000 $555,000 $545,000 21.6% $150,000
2297442 Riverdale Boro $389,900 $339,900 $306,500 21.4% $83,400
2283259 Harding Twp. $635,000 $585,000 $500,000 21.3% $135,000
2299694 Lafayette Twp. $399,000 $349,000 $315,000 21.1% $84,000
2317388 Hillside Twp. $329,000 $269,000 $260,000 21.0% $69,000
2313119 Glen Ridge Boro Twp. $499,000 $399,900 $395,000 20.8% $104,000
2319872 Piscataway Twp. $325,000 $275,000 $260,000 20.0% $65,000
2287921 Franklin Twp. $450,000 $350,000 $360,000 20.0% $90,000
2313250 Belleville Twp. $349,900 $299,900 $280,000 20.0% $69,900

The second table below contains Lowball sales of $200,000 or greater off the Original List Price.

 MLS  Town  OLP  LP  SP  % off OLP  $ off OLP
2277032 Andover Twp. $3,500,000 $2,900,000 $2,538,000 27.5% $962,000
2274990 Millburn Twp. $3,495,000 $2,800,000 $2,620,000 25.0% $875,000
2256538 Lake Mohawk Sparta $2,500,900 $2,000,000 $1,815,000 27.4% $685,900
2316407 Montgomery Twp. $1,680,000 $1,399,900 $1,265,000 24.7% $415,000
2279300 Tewksbury Twp. $2,395,000 $2,195,000 $2,000,000 16.5% $395,000
2257317 Mountain Lakes Boro $2,495,000 $2,250,000 $2,100,000 15.8% $395,000
2313471 Chatham Twp. $1,595,000 $1,299,000 $1,210,000 24.1% $385,000
2332355 Westfield Twp. $2,375,000 $1,999,999 $1,999,999 15.8% $375,001
2354690 Mendham Twp. $1,200,000 $1,200,000 $825,000 31.3% $375,000
2109338 Mendham Boro $1,975,000 $1,650,000 $1,600,000 19.0% $375,000
2252469 Mountain Lakes Boro $1,899,000 $1,699,000 $1,550,000 18.4% $349,000
2276661 Mountain Lakes Boro $1,499,000 $1,275,000 $1,200,000 19.9% $299,000
2317707 Upper Saddle River Boro $1,799,000 $1,599,000 $1,500,000 16.6% $299,000
2102487 Westfield Twp. $1,575,000 $1,449,000 $1,290,000 18.1% $285,000
2329236 Summit City $1,500,000 $1,500,000 $1,225,000 18.3% $275,000
2323368 Franklin Lakes Boro $3,699,900 $3,699,900 $3,450,000 6.8% $249,900
2315389 Montclair Twp. $1,999,000 $1,849,000 $1,750,000 12.5% $249,000
2226538 Blairstown Twp. $650,000 $495,000 $425,000 34.6% $225,000
2245985 Mahwah Twp. $775,000 $599,900 $555,000 28.4% $220,000
2268877 Livingston Twp. $849,900 $669,900 $630,000 25.9% $219,900
2292671 Morris Twp. $1,299,000 $1,099,000 $1,080,000 16.9% $219,000
2318709 Warren Twp. $1,434,500 $1,299,000 $1,219,000 15.0% $215,500
2322157 Westfield Twp. $1,199,900 $1,095,000 $995,000 17.1% $204,900
2276129 Wyckoff Twp. $2,599,999 $2,599,999 $2,399,000 7.7% $200,999
2277922 Independence Twp. $450,000 $275,000 $250,000 44.4% $200,000

Caveat Emptor!

 

Sat 27 Jan 2007

Lowball! January 2007

Categories: Lowball
[42] Comments 

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.

The first table below contains Lowball sales of 20% or greater off the Original List Price.

MLS# Town OLP LP SP % off OLP $ off OLP
2302695 West Milford Twp. $172,000 $160,000 $100,000 41.9% $72,000
2238966 Newark City (1614) $122,500 $114,900 $72,000 41.2% $50,500
2258527 Harding Twp. (2313) $1,460,000 $899,000 $881,500 39.6% $578,500
2311282 Hoboken City* (1805) $894,999 $775,000 $600,000 33.0% $294,999
2301653 Roxbury Twp.* (2336) $217,000 $173,600 $145,600 32.9% $71,400
2305193 Readington Twp. $339,900 $259,900 $229,000 32.6% $110,900
2268892 Flemington Boro $515,000 $490,000 $350,000 32.0% $165,000
2291343 Chatham Twp. (2305) $379,000 $339,000 $257,665 32.0% $121,335
2311678 Maplewood Twp. $250,000 $250,000 $170,000 32.0% $80,000
2255174 Delaware Twp. (1907) $975,000 $789,900 $675,000 30.8% $300,000
2325138 Mahwah Twp.* (1133) $455,000 $410,000 $320,000 29.7% $135,000
2275066 East Orange City $219,900 $209,900 $155,000 29.5% $64,900
2280914 Bridgewater Twp. $329,900 $269,900 $235,000 28.8% $94,900
2303646 Mendham Twp. (2320) $1,685,000 $1,385,000 $1,204,973 28.5% $480,027
2305545 Bridgewater Twp. $549,900 $499,900 $397,500 27.7% $152,400
2106433 West Caldwell Twp. $1,100,000 $849,000 $800,000 27.3% $300,000
2357073 Mountain Lakes Boro $1,599,900 $1,179,000 $1,175,000 26.6% $424,900
2300263 East Hanover Twp. $1,299,000 $999,900 $955,000 26.5% $344,000
2258841 West Milford Twp. $309,900 $269,900 $228,000 26.4% $81,900
2260491 Randolph Twp. $1,950,000 $1,650,000 $1,450,000 25.6% $500,000
2334184 Belleville Twp. (1601) $476,335 $445,835 $356,000 25.3% $120,335
2224267 Paterson City* (2508) $399,000 $349,000 $300,000 24.8% $99,000
2262959 Mendham Twp. $1,525,000 $1,350,000 $1,150,000 24.6% $375,000
2289946 Oakland Boro* (1142) $225,000 $202,500 $170,000 24.4% $55,000
2273944 Ridgewood Village $1,450,000 $1,204,822 $1,100,000 24.1% $350,000
2286426 Clifton City* (2502) $499,000 $395,000 $380,000 23.8% $119,000
2322813 East Orange City $379,900 $315,000 $290,000 23.7% $89,900
2273274 Mahwah Twp. (1133) $799,000 $675,000 $610,000 23.7% $189,000
2267905 Verona Twp. (1620) $299,900 $245,000 $230,000 23.3% $69,900
2313194 Irvington Twp.* (1609) $209,900 $209,900 $161,000 23.3% $48,900
2244369 Newark City (1614) $149,900 $149,900 $115,000 23.3% $34,900
2244346 Newark City (1614) $149,900 $149,900 $115,000 23.3% $34,900
2239519 Wayne Twp. (2514) $149,900 $139,900 $115,000 23.3% $34,900
2280145 Harding Twp. (2313) $2,375,000 $1,975,000 $1,830,000 22.9% $545,000
2305102 Hawthorne Boro $479,000 $399,000 $370,000 22.8% $109,000
2228426 Lebanon Twp.* (1919) $695,000 $589,000 $540,000 22.3% $155,000
2298423 Paterson City* (2508) $409,900 $359,000 $320,000 21.9% $89,900
2278711 Rockaway Twp. $429,000 $359,000 $335,000 21.9% $94,000
2306271 West Caldwell Twp. $339,000 $319,000 $265,000 21.8% $74,000
2263426 Chatham Boro* (2304) $2,800,000 $2,500,000 $2,200,000 21.4% $600,000
2283964 Boonton Town (2301) $539,900 $469,000 $425,000 21.3% $114,900
2297890 Franklin Twp. (2708) $330,000 $279,900 $260,000 21.2% $70,000
2321282 Green Brook Twp. $649,900 $579,900 $515,000 20.8% $134,900
2321293 Warren Twp. (2720) $649,900 $579,900 $515,000 20.8% $134,900
2293556 Montvale Boro (1136) $599,900 $499,900 $475,500 20.7% $124,400
2266311 Lebanon Twp. (1919) $579,900 $489,000 $460,000 20.7% $119,900
2269937 Clifton City* (2502) $479,000 $399,900 $380,000 20.7% $99,000
2298253 Clifton City (2502) $399,000 $333,900 $317,000 20.6% $82,000
2285839 Montclair Twp. (1613) $559,900 $499,900 $445,000 20.5% $114,900
2005240 Bloomingdale Boro $349,900 $289,900 $279,000 20.3% $70,900
2308879 Morris Twp.* (2324) $689,000 $585,000 $550,000 20.2% $139,000
2289318 Madison Boro (2318) $1,375,000 $1,199,000 $1,100,000 20.0% $275,000

The second table contains Lowball sales of $150,000 or greater off the Original List Price.

MLS# Town OLP LP SP % off OLP $ off OLP
2263426 Chatham Boro* (2304) $2,800,000 $2,500,000 $2,200,000 21.4% $600,000
2258527 Harding Twp. (2313) $1,460,000 $899,000 $881,500 39.6% $578,500
2280145 Harding Twp. (2313) $2,375,000 $1,975,000 $1,830,000 22.9% $545,000
2264923 Essex Fells Twp. (1606) $2,850,000 $2,600,000 $2,340,000 17.9% $510,000
2260491 Randolph Twp.* (2332) $1,950,000 $1,650,000 $1,450,000 25.6% $500,000
2303646 Mendham Twp. (2320) $1,685,000 $1,385,000 $1,204,973 28.5% $480,027
2328804 Mendham Boro* (2319) $6,750,000 $6,750,000 $6,300,000 6.7% $450,000
2357073 Mountain Lakes Boro $1,599,900 $1,179,000 $1,175,000 26.6% $424,900
2262959 Mendham Twp.* (2320) $1,525,000 $1,350,000 $1,150,000 24.6% $375,000
2273944 Ridgewood Village (1151) $1,450,000 $1,204,822 $1,100,000 24.1% $350,000
2249000 Bernardsville Boro* (2703) $1,800,000 $1,650,000 $1,450,000 19.4% $350,000
2300263 East Hanover Twp. (2310) $1,299,000 $999,900 $955,000 26.5% $344,000
2255174 Delaware Twp. (1907) $975,000 $789,900 $675,000 30.8% $300,000
2106433 West Caldwell Twp. $1,100,000 $849,000 $800,000 27.3% $300,000
2298514 Chatham Boro* (2304) $1,499,000 $1,299,000 $1,200,000 19.9% $299,000
2311282 Hoboken City* (1805) $894,999 $775,000 $600,000 33.0% $294,999
2289318 Madison Boro (2318) $1,375,000 $1,199,000 $1,100,000 20.0% $275,000
2301437 Watchung Boro* (2721) $1,475,000 $1,300,000 $1,200,000 18.6% $275,000
2279075 Mountain Lakes Boro $1,549,000 $1,299,000 $1,275,000 17.7% $274,000
2268967 Tewksbury Twp. (1924) $1,449,900 $1,179,900 $1,179,900 18.6% $270,000
2262980 Kinnelon Boro* (2315) $1,244,579 $1,244,579 $999,000 19.7% $245,579
2245699 West Orange Twp. (1622) $1,700,000 $1,590,000 $1,475,000 13.2% $225,000
2331076 Chester Twp. (2307) $1,299,900 $1,299,900 $1,075,000 17.3% $224,900
2305714 Mountain Lakes Boro $1,150,000 $989,000 $950,000 17.4% $200,000
2329078 Chatham Boro* (2304) $1,295,000 $1,295,000 $1,100,000 15.1% $195,000
2273274 Mahwah Twp. (1133) $799,000 $675,000 $610,000 23.7% $189,000
2285063 Livingston Twp. (1610) $1,050,000 $899,000 $862,500 17.9% $187,500
2316455 Chatham Twp.* (2305) $1,150,000 $997,000 $965,000 16.1% $185,000
2299498 Florham Park Boro (2311) $1,435,000 $1,295,000 $1,250,000 12.9% $185,000
2250966 Wayne Twp. (2514) $1,275,000 $1,225,000 $1,095,000 14.1% $180,000
2315008 East Hanover Twp. (2310) $1,100,000 $975,000 $925,000 15.9% $175,000
2229512 Livingston Twp. (1610) $1,525,000 $1,525,000 $1,350,000 11.5% $175,000
2278861 Livingston Twp.* (1610) $949,900 $809,900 $775,000 18.4% $174,900
2290199 Long Hill Twp.* (2317) $1,299,000 $1,190,000 $1,125,000 13.4% $174,000
2335104 North Caldwell Boro $1,499,000 $1,499,000 $1,325,000 11.6% $174,000
2265956 Mahwah Twp. (1133) $1,699,900 $1,599,900 $1,530,000 10.0% $169,900
2268892 Flemington Boro (1909) $515,000 $490,000 $350,000 32.0% $165,000
2282568 Clifton City (2502) $1,090,000 $1,090,000 $925,000 15.1% $165,000
2228426 Lebanon Twp.* (1919) $695,000 $589,000 $540,000 22.3% $155,000
2305545 Bridgewater Twp.* (2706) $549,900 $499,900 $397,500 27.7% $152,400
2325193 Chatham Twp. (2305) $1,350,000 $1,350,000 $1,200,000 11.1% $150,000
2307793 Morris Twp. (2324) $1,490,000 $1,374,900 $1,340,000 10.1% $150,000
2294170 Montville Twp. (2322) $1,950,000 $1,950,000 $1,800,000 7.7% $150,000

 

Wed 27 Dec 2006

Lowball! December 2006

Categories: Lowball
[93] Comments 

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.

The first table contains Lowball sales of 25% or greater off the Original List Price.

MLS Town OLP LP SP % off OLP $ off OLP
2307965 Saddle River Boro $1,999,999 $1,799,000 $800,000 60.0% $1,199,999
2283696 Allamuchy Twp. $439,900 $380,000 $210,000 52.3% $229,900
2288787 Phillipsburg Town $105,000 $65,000 $52,000 50.5% $53,000
2235610 Newark City $249,777 $174,777 $130,000 48.0% $119,777
2255200 Delaware Twp $1,125,000 $699,000 $600,000 46.7% $525,000
2324021 Middlesex Boro $359,000 $309,900 $200,000 44.3% $159,000
2246907 Alexandria Twp $1,125,000 $850,000 $695,000 38.2% $430,000
2256953 Mountainside Boro $675,000 $575,000 $425,000 37.0% $250,000
2292034 Phillipsburg Town $110,000 $85,000 $70,000 36.4% $40,000
2302885 Plainfield City $499,900 $384,900 $320,000 36.0% $179,900
2307626 Elizabeth City $399,900 $329,000 $257,500 35.6% $142,400
2289615 Demarest Boro $1,396,500 $999,900 $950,000 32.0% $446,500
2265095 Holland Twp $489,850 $409,900 $340,000 30.6% $149,850
2341512 Roselle Boro $179,000 $179,000 $125,000 30.2% $54,000
2318592 West Paterson Boro $429,000 $379,000 $300,000 30.1% $129,000
2282170 Washington Twp $324,000 $250,000 $230,000 29.0% $94,000
2285964 Plainfield City $224,900 $179,900 $162,000 28.0% $62,900
2278414 Hillsborough Twp $850,000 $649,000 $615,000 27.6% $235,000
2302233 Parsippany-Troy Hills $399,900 $309,000 $290,000 27.5% $109,900
2325135 Plainfield City $110,000 $110,000 $80,000 27.3% $30,000
2289264 Morris Twp $618,000 $499,000 $450,000 27.2% $168,000
2307086 Oxford Twp $279,900 $249,900 $205,000 26.8% $74,900
2291575 Franklin Twp $360,000 $299,900 $265,000 26.4% $95,000
2265649 West Milford Twp $379,900 $292,250 $280,000 26.3% $99,900
2252471 Midland Park Boro $750,000 $580,900 $553,000 26.3% $197,000
2290851 Parsippany-Troy Hills $541,000 $399,000 $399,000 26.2% $142,000
2312727 Hampton Boro $249,900 $220,000 $185,000 26.0% $64,900
2259132 Glen Rock Boro $559,900 $449,000 $415,000 25.9% $144,900
2258204 Wanaque Boro $249,000 $215,000 $185,000 25.7% $64,000
2258696 North Plainfield Boro $359,900 $293,900 $267,500 25.7% $92,400
2307803 Scotch Plains Twp $1,275,000 $1,150,000 $950,000 25.5% $325,000
2304857 Kenilworth Boro $435,000 $349,900 $325,000 25.3% $110,000
2268887 Hoboken City $879,900 $659,900 $659,000 25.1% $220,900
2322193 Westfield Twp $799,000 $629,000 $599,500 25.0% $199,500

The second table contains Lowball sales of greater than $250,000 off of the Original List Price.

MLS Town OLP LP SP % off OLP $ off OLP
2307965 Saddle River Boro $1,999,999 $1,799,000 $800,000 60.0% $1,199,999
2231774 Mendham Twp $3,950,000 $3,750,000 $3,400,000 13.9% $550,000
2255200 Delaware Twp $1,125,000 $699,000 $600,000 46.7% $525,000
2315375 Harding Twp $3,975,000 $3,975,000 $3,500,000 11.9% $475,000
2289615 Demarest Boro $1,396,500 $999,900 $950,000 32.0% $446,500
2274563 Franklin Lakes Boro $2,050,000 $1,795,000 $1,610,000 21.5% $440,000
2246907 Alexandria Twp $1,125,000 $850,000 $695,000 38.2% $430,000
2233988 Summit City $1,850,000 $1,600,000 $1,450,000 21.6% $400,000
2263229 Montgomery Twp $1,895,000 $1,695,000 $1,500,000 20.8% $395,000
2297692 North Bergen Twp $1,450,000 $1,285,000 $1,100,000 24.1% $350,000
2295882 Madison Boro $2,175,000 $1,899,000 $1,825,000 16.1% $350,000
2307803 Scotch Plains Twp $1,275,000 $1,150,000 $950,000 25.5% $325,000
2270088 Wayne Twp $1,520,000 $1,299,000 $1,200,000 21.1% $320,000
2268625 Harding Twp $1,289,000 $1,095,000 $975,000 24.4% $314,000
2271457 Nutley Twp $1,400,000 $1,400,000 $1,100,000 21.4% $300,000
2234317 Denville Twp $1,895,000 $1,895,000 $1,600,000 15.6% $295,000
2292948 Bernardsville Boro $3,200,000 $2,950,000 $2,925,000 8.6% $275,000
2269094 Green Brook Twp $1,559,000 $1,399,000 $1,285,000 17.6% $274,000
2276163 Raritan Twp $1,100,000 $849,990 $830,000 24.5% $270,000
2287617 Bernardsville Boro $1,595,000 $1,495,000 $1,325,000 16.9% $270,000
2278859 Mahwah Twp $1,249,938 $999,900 $985,000 21.2% $264,938
2256953 Mountainside Boro $675,000 $575,000 $425,000 37.0% $250,000
2333015 Summit City $2,500,000 $2,500,000 $2,250,000 10.0% $250,000
2323644 Watchung Boro $2,950,000 $2,950,000 $2,700,000 8.5% $250,000

Additional sales data can be found here: Sales-Dec06.xls (In Excel Format)

Caveat Emptor!
jb

 

Mon 4 Dec 2006

Lowball! 11/16 - 11/30

Categories: Lowball
[40] Comments 

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.

The first table contains Lowball sales of 20% or greater off the Original List Price.

MLS Town OLP LP SP % off OLP $ off OLP
2251431 Vernon Twp. (2824) $32,500 $22,000 $18,500 43.1% $14,000
2276049 Belleville Twp.* (1601) $399,900 $349,900 $250,000 37.5% $149,900
2272319 Clinton Twp. (1906) $399,000 $299,900 $260,000 34.8% $139,000
2313651 Elizabeth City* (2904) $339,900 $319,900 $230,000 32.3% $109,900
2303682 Liberty Twp.* (3014) $123,900 $123,900 $84,000 32.2% $39,900
2257275 Belvidere Twp. (3003) $339,000 $259,900 $240,000 29.2% $99,000
2302086 Morristown Town* (2325) $649,000 $549,000 $475,000 26.8% $174,000
2274992 Parsippany-Troy Hills Twp. $419,000 $339,000 $307,500 26.6% $111,500
2214626 Livingston Twp. (1610) $1,550,000 $1,285,000 $1,150,000 25.8% $400,000
2285462 Rockaway Twp.* (2335) $394,900 $349,900 $295,000 25.3% $99,900
2286799 Rahway City* (2913) $269,000 $194,000 $202,000 24.9% $67,000
2287060 Readington Twp. (1922) $795,000 $795,000 $600,000 24.5% $195,000
2074952 Bernardsville Boro (2703) $4,295,000 $3,749,000 $3,250,000 24.3% $1,045,000
2268485 Denville Twp. (2308) $639,000 $485,000 $485,000 24.1% $154,000
2271287 Montclair Twp. (1613) $689,900 $624,000 $525,000 23.9% $164,900
2283779 Maplewood Twp. (1611) $839,000 $699,000 $642,500 23.4% $196,500
2251595 Fairfield Twp.* (1607) $1,499,000 $1,239,000 $1,150,000 23.3% $349,000
2245290 Oakland Boro (1142) $649,900 $499,000 $499,000 23.2% $150,900
2293648 Wayne Twp.* (2514) $1,550,000 $1,450,000 $1,200,000 22.6% $350,000
2282766 Kinnelon Boro (2315) $489,900 $432,000 $382,000 22.0% $107,900
2272867 Bridgewater Twp. (2706) $689,000 $589,000 $538,000 21.9% $151,000
2284671 South Amboy City (2120) $229,000 $179,000 $179,000 21.8% $50,000
2273975 Randolph Twp.* (2332) $319,500 $269,900 $250,000 21.8% $69,500
2110931 Vernon Twp. (2824) $459,000 $375,000 $360,000 21.6% $99,000
2291360 West Milford Twp. (2515) $210,000 $164,900 $165,000 21.4% $45,000
2304698 South Orange Village Twp. $1,312,574 $1,312,574 $1,032,000 21.4% $280,574
2288216 Rockaway Boro* (2334) $374,900 $324,900 $295,000 21.3% $79,900
2259145 Clinton Twp.* (1906) $299,900 $259,900 $236,000 21.3% $63,900
2297557 Jersey City* (1806) $256,900 $229,900 $203,000 21.0% $53,900
2286358 Vernon Twp. (2824) $272,000 $230,000 $215,000 21.0% $57,000
2269984 Parsippany-Troy Hills Twp. $569,000 $499,000 $450,000 20.9% $119,000
2282130 Summit City (2918) $529,900 $469,000 $420,000 20.7% $109,900
2283121 Phillipsburg Town* (3019) $159,900 $128,900 $127,200 20.5% $32,700
2317904 Clifton City* (2502) $465,000 $399,900 $370,000 20.4% $95,000
2281172 Roselle Park Boro (2915) $320,000 $275,900 $255,000 20.3% $65,000
2290030 Madison Boro (2318) $2,349,000 $1,989,000 $1,875,000 20.2% $474,000
2295993 West Orange Twp.* (1622) $479,000 $399,900 $382,500 20.1% $96,500
2211051 Roxbury Twp. (2336) $439,900 $390,000 $352,000 20.0% $87,900

The second table contains Lowball sales of greater than $150,000 off of the Original List Price.

MLS Town OLP LP SP % off OLP $ off OLP
2074952 Bernardsville Boro (2703) $4,295,000 $3,749,000 $3,250,000 24.3% $1,045,000
2246124 Harding Twp. (2313) $7,400,000 $7,400,000 $6,375,000 13.9% $1,025,000
2290030 Madison Boro (2318) $2,349,000 $1,989,000 $1,875,000 20.2% $474,000
2214626 Livingston Twp. (1610) $1,550,000 $1,285,000 $1,150,000 25.8% $400,000
2293648 Wayne Twp.* (2514) $1,550,000 $1,450,000 $1,200,000 22.6% $350,000
2251595 Fairfield Twp.* (1607) $1,499,000 $1,239,000 $1,150,000 23.3% $349,000
2303285 Chatham Boro (2304) $1,675,000 $1,550,000 $1,350,000 19.4% $325,000
2296564 Mountainside Boro (2910) $1,700,000 $1,500,000 $1,400,000 17.6% $300,000
2102488 Westfield Twp. (2920) $1,695,000 $1,599,000 $1,400,000 17.4% $295,000
2304698 South Orange Village Twp. $1,312,574 $1,312,574 $1,032,000 21.4% $280,574
2279414 Westfield Twp. (2920) $1,499,000 $1,190,000 $1,232,000 17.8% $267,000
2246869 Green Brook Twp. (2709) $1,195,000 $1,195,000 $980,000 18.0% $215,000
2260634 Kinnelon Boro* (2315) $1,150,000 $990,000 $945,000 17.8% $205,000
2283779 Maplewood Twp. (1611) $839,000 $699,000 $642,500 23.4% $196,500
2306205 Montville Twp.* (2322) $1,195,000 $1,095,000 $999,999 16.3% $195,001
2287060 Readington Twp. (1922) $795,000 $795,000 $600,000 24.5% $195,000
2280995 Bridgewater Twp. (2706) $1,075,000 $949,000 $899,000 16.4% $176,000
2302086 Morristown Town* (2325) $649,000 $549,000 $475,000 26.8% $174,000
2314647 Montclair Twp. (1613) $1,150,000 $999,000 $980,000 14.8% $170,000
2271287 Montclair Twp. (1613) $689,900 $624,000 $525,000 23.9% $164,900
2293904 Denville Twp. (2308) $1,095,000 $999,900 $931,000 15.0% $164,000
2268485 Denville Twp. (2308) $639,000 $485,000 $485,000 24.1% $154,000
2272867 Bridgewater Twp. (2706) $689,000 $589,000 $538,000 21.9% $151,000
2245290 Oakland Boro (1142) $649,900 $499,000 $499,000 23.2% $150,900

Additional sales data can be found here: Sales-Nov06b (XLS).

Caveat Emptor!
jb

 

Mon 20 Nov 2006

Lowball! 11/1 - 11/15

Categories: Lowball
[115] Comments 

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.

The first table contains Lowball sales of greater than $200,000 off of the Original List Price.

MLS# Town OLP LP SP % off OLP $ off OLP
2208171 Franklin Lakes Boro (1120) $9,995,000 $6,900,000 $5,400,000 46.0% $4,595,000
2276318 Millburn Twp.* (1612) $4,500,000 $3,350,000 $3,000,000 33.3% $1,500,000
2203111 Kinnelon Boro (2315) $2,150,000 $1,449,000 $1,360,000 36.7% $790,000
2110543 Bernardsville Boro (2703) $3,925,000 $3,495,000 $3,350,000 14.6% $575,000
2290235 Franklin Lakes Boro (1120) $2,899,000 $2,395,000 $2,395,000 17.4% $504,000
2060526 Hardyston Twp. (2811) $1,199,900 $975,000 $850,000 29.2% $349,900
2267697 Bernards Twp. (2702) $1,150,000 $899,000 $845,000 26.5% $305,000
2276197 Montclair Twp. (1613) $1,300,000 $1,150,000 $1,000,000 23.1% $300,000
2266610 Chatham Twp. (2305) $3,150,000 $3,150,000 $2,850,000 9.5% $300,000
2262493 Randolph Twp.* (2332) $1,299,000 $1,100,000 $999,999 23.0% $299,001
2235805 Essex Fells Twp. (1606) $1,399,000 $1,250,000 $1,100,000 21.4% $299,000
2302394 Madison Boro* (2318) $1,350,000 $1,199,000 $1,120,000 17.0% $230,000
2253939 Bethlehem Twp. (1902) $1,275,000 $1,199,000 $1,050,000 17.6% $225,000
2269621 Glen Rock Boro* (1122) $1,349,900 $1,249,900 $1,125,000 16.7% $224,900
2306707 Bernards Twp. (2702) $1,695,000 $1,495,000 $1,475,000 13.0% $220,000
2297189 Jefferson Twp. (2314) $1,210,000 $1,049,000 $995,000 17.8% $215,000
2279384 Maplewood Twp. (1611) $1,450,000 $1,380,000 $1,237,500 14.7% $212,500

The second table contains Lowball sales of 20% or greater off the Original List Price.

MLS# Town OLP LP SP % off OLP $ off OLP
2208171 Franklin Lakes Boro (1120) $9,995,000 $6,900,000 $5,400,000 46.0% $4,595,000
2308230 Plainfield City (2912) $289,900 $269,900 $175,000 39.6% $114,900
2279689 Springfield Twp.* (2917) $499,000 $400,000 $315,000 36.9% $184,000
2203111 Kinnelon Boro (2315) $2,150,000 $1,449,000 $1,360,000 36.7% $790,000
2276318 Millburn Twp.* (1612) $4,500,000 $3,350,000 $3,000,000 33.3% $1,500,000
2304299 East Orange City* (1605) $345,000 $345,000 $240,000 30.4% $105,000
2060526 Hardyston Twp. (2811) $1,199,900 $975,000 $850,000 29.2% $349,900
2283791 Newark City (1614) $129,000 $110,000 $93,000 27.9% $36,000
2267697 Bernards Twp. (2702) $1,150,000 $899,000 $845,000 26.5% $305,000
2273201 Union Twp.* (2919) $625,000 $499,900 $460,000 26.4% $165,000
2272845 Belleville Twp.* (1601) $449,000 $329,000 $331,000 26.3% $118,000
2260978 Belvidere Twp. (3003) $374,900 $292,500 $280,000 25.3% $94,900
2269348 Bloomfield Twp. (1602) $659,000 $499,000 $499,000 24.3% $160,000
2096483 Oxford Twp. (3017) $210,000 $159,900 $159,900 23.9% $50,100
2281540 Wanaque Boro (2513) $149,000 $125,000 $114,000 23.5% $35,000
2253622 Phillipsburg Town* (3019) $169,900 $149,900 $130,000 23.5% $39,900
2267777 Nutley Twp.* (1616) $389,000 $319,900 $299,000 23.1% $90,000
2276197 Montclair Twp. (1613) $1,300,000 $1,150,000 $1,000,000 23.1% $300,000
2262493 Randolph Twp.* (2332) $1,299,000 $1,100,000 $999,999 23.0% $299,001
2271247 Oakland Boro* (1142) $400,000 $349,900 $309,000 22.8% $91,000
2078041 Blairstown Twp. (3004) $785,000 $639,000 $607,500 22.6% $177,500
2286766 Kinnelon Boro* (2315) $670,000 $599,000 $520,000 22.4% $150,000
2291376 Roselle Park Boro* (2915) $345,000 $325,000 $270,000 21.7% $75,000
2280702 Glen Gardner Boro* (1912) $249,900 $199,900 $195,900 21.6% $54,000
2267586 Livingston Twp.* (1610) $499,000 $429,000 $392,000 21.4% $107,000
2306498 Jefferson Twp.* (2314) $349,900 $299,900 $275,000 21.4% $74,900
2235805 Essex Fells Twp. (1606) $1,399,000 $1,250,000 $1,100,000 21.4% $299,000
2246672 Roxbury Twp. (2336) $514,900 $419,000 $405,000 21.3% $109,900
2314793 Scotch Plains Twp.* (2916) $699,000 $599,000 $550,000 21.3% $149,000
2282794 East Orange City (1605) $190,000 $190,000 $150,000 21.1% $40,000
2265238 Frankford Twp. (2805) $379,000 $319,900 $300,000 20.8% $79,000
2283944 Madison Boro (2318) $675,000 $560,000 $535,000 20.7% $140,000
2269279 Byram Twp. (2804) $339,900 $284,900 $270,000 20.6% $69,900
2246434 Bernardsville Boro* (2703) $199,900 $179,600 $160,000 20.0% $39,900

An XLS file containing a full listing of sales can be found here: Sales-Nov06a.xls.

Caveat Emptor!
jb

 

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