Home Buying in Bedminster>Question Details

G, Home Buyer in New Jersey

My wife and I are purchasing a 3-br townhome in the Hills in Bedminster, NJ. We are wondering how the market

Asked by G, New Jersey Sun Apr 13, 2008

has fared there in the past few years. I have heard that the condos there are only moderately down from the height of the market. Any info would be greatly appreciated.

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9
Don't forget a home inspection! I cover all of New Jersey and I am available seven days a week. In addition to the home inspection, I do radon testing and termite / wood destroying insect inspections.

John Falco
FHA Home Inspections, Inc.
201-500-7460
john@fha-homeinspections.com
0 votes Thank Flag Link Thu Nov 11, 2010
I think you are right on. The prices have held reasonably well. I currently have a 3 bedroom listed in Stone Run II - See 4 Valley View Court, Bedminster.
0 votes Thank Flag Link Wed Nov 10, 2010
Mr. G: You are correct. If you are happy with the price and intend to stay in the home for (5) five years or more years you and your wife are making a good choice.
0 votes Thank Flag Link Wed Jul 15, 2009
Will have to see which subdivision it is located at, I have a listing a Stone Run II and the price is I think better than 1 year ago. There are many Birchwood in the market right now. You can use my web page http://www.anniestowers.info to search for comps or you can let me know I will help you. Call 908-507-8403 Annie
0 votes Thank Flag Link Tue Jul 7, 2009
I just did an appraisal in Edgemont in the Hills which is on the upper end of that sub-market. Prices for 3 bedrooms are down about 4% from 2007. There's a lot of inventory on the market right now in the Bedminster/Basking Ridge market in the 500,000-600,000 range. You might want to check out some of the newer Basking Ridge condo developments along Allen Rd.
0 votes Thank Flag Link Wed Apr 30, 2008
Hi G, The Hills in Bedminster is a great area - full of life, convenient to highways, transporation and shopping, great amenities - and an enviable tax rate! As part of Somerset County, Bedminster has fared better than many other areas in New Jersey. Bear in mind as well that New Jersey is doing much better than most parts of the country. In 2007, according to the Otteau Report, the market swung downward 5%, hardly a free fall as the dooms dayers might suggest. In Somerset County, the market swing was a modest 2% decline. I've got a good bit of experience in the Bedminster Hills - interestingly some neighborhoods like Four Oaks, which I like very much (newer, low maintenance, two car garage) fell quickly after the summer '05 high. Wood Duck, just below, held on, but in the end, fell about the same percentage. So net, net, although these two neighborhoods, which share ammenities incidentally, moved at different rates, they ended up in about the same relative place. Hope you found this helpful - best of luck to you!
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Tue Apr 22, 2008
Ask the agent who is helping you to provide you stats regarding the absorption and inventory rates in Bedminster. YTD sales this year over last. Inventory this year over last, etc. Those stats will help you better understand how the market is doing

Bedminister provides more stability than many other towns in NJ.

In NJ and NY, we have not been hit "as hard" by the downturn, but neither are we immune. You will find quite a bit of variance between areas of NJ. Bedminister YTD this year for all residential sales is down from last year.

Deborah Madey - Real Estate Broker
Peninsula Realty Group - New Jersey
0 votes Thank Flag Link Mon Apr 14, 2008
Deborah Madey, Real Estate Pro in Rumson, NJ
MVP'08
Contact
In my opinion that area has always been a strong buy. NJ and NY have not got as hard hit as the news would lead you to believe on the national average things look really bad but there are some local markets within the tri-state area that are quite stable just because of the proximity to NYC. Hope that helps
Web Reference: http://www.njproperty.info
0 votes Thank Flag Link Mon Apr 14, 2008
Bedminster is a very "tony" upper crust town that sees little turnover and is therefore less likely to be vulnerable to the marketplace, although there are probably some deals to be had.
0 votes Thank Flag Link Sun Apr 13, 2008
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