Market Conditions in 08820>Question Details

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2 Stark Pl, Edison NJ 08820 5br 4ba 2ga new House near Metropark Train just Sold under attorney review $979000

Asked by Voices Member, Wed Feb 20, 2008

I just picked up this one from craigslist, not listing at Trulia (apparently not sold by Trulia Realtors). My question is "is this true?" can any licensed realtor confirm? If it is true, why so-called slow market, a million dollar house would be able to be sold without even listing with popular website like Trulia???? I mean Trulia is suppose to do much better, right?

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Edison is the fourth largest city in the state and offers a wide range of housing stock. Entry level can be in the 200's and million dollar homes can be found.
1 vote Thank Flag Link Tue Mar 18, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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Yes, this house has been sold and under contract now. It is true for sure.

The real estate market in Greater Edison area, including Metuchen, Piscataway, South Plainfield, North Brunswick, ...etc has been very HOT!!! Not slow at all. I just checked the NJ State Goverment website and found in 2007 close to 1,000 houses in Edison (3 zip codes 08820,08817 and 08837) itself were sold, and close to 500 houses in Piscataway (one zip code 08854)

Since many people sold their home here may become buyers buying bigger home, many surrounding area in Greater New York City area also booming. Some condo/townhouse owners even decided to rent out and buy bigger home at the same time due to the fact rental market is so hot. Why? Greater Edison area is top 3 safest area in New Jersey. Good schools and easy commute to NYC.

Million dollar house is NOTHING to New Yorkers who just sold their condos in Manhattan to European investors over the Xmas season. I went to see some 2br condo in Manhattan, it asked $1.35 millions to $1.6 millions.

Trulia is one of the fastest growing real estate website as per USA Today report, the visitors grew 165% last year whereas realtor.com, the current largest drop 10% visitors. You will see many buyers come to Trulia for info and help.

I agree that Trulia will do much better in 2008.

p.s. Btw, Dr. Cheng, who is Lucy? your posting looks odd????
1 vote Thank Flag Link Tue Mar 18, 2008
So, Lucy, you think those houses listing at Trulia not sold were NOT priced right? I don't think so. Apparently they were priced right since those listing with Trulia or MLS are all priced by licensed realtors who passed rigorous courses and exams; they are professionals with access to MLS system, how could they NOT price a property right at the first place? I do not think any listing agent want to fool around and waste their time and marketing cost to market a property they price wrong. How do you think?

So, apparently, "price right" is a default situation here; we are not talking about "for sale by owner" house where many greedy sellers may over price their home.

So, your second criteria "advertised" may become one factor. But, this house was NOT advertised by Trulia, at least I could not find it on Trulia. So, I am wondering "where it was advertised"? If I were a licensed realtor, I would be very eager to know this info because if there is a better media, I would be able to serve my client better, how do you think?

Apparently, the person posted the sold messages on craigslist is very creditable as you can see there are many of them http://cnj.craigslist.org/search/rfs?query=stn+just&minA… On the other hand, as a researcher, I need to document all the verifications from second source. I could verify most, but some I need to count on you enthusiastic Trulia realtors, if any.

I thought licensed realtor like you, Lucy, all have the power to check if the property is sold or not in your finger tip, why would you want me to drive all the way to the property to see the for sale sign? Is there any difficulty on your end?

Where is Deborah? Somehow, she did a great job last time. Kind of miss her :-) No wonder Trulia voted her #1 Truelia realtor. May be she got too busy answering hundreds of thousands of questions.

By the way, I think Trulia should provide a service for propsective buyers to be able to verify if a property has been sold or not, so that they won't running around to see the for sale signs and playing phone tags with listing agents. How do you think?

I can guess one reason USA Today said realtor.com lost 10% of visitors in 2007 was because many houses on realtor.com have been sold, yet it does not remove them, nor indicate them. So, hundreds of thousands of buyers not only playing around with lots of emails and phone tags, but waste lots of time. A modern website should not waste visitors' time, or visitors will not visit soon or later.
1 vote Thank Flag Link Fri Feb 22, 2008
Dear Tracy,

I heard #1603 at Edison Hollow South http://raspberryct.blogspot.com/ 1br 1ba 1fl w/d just came out buy already sold under attorney review at $203,000 ... It is now sold out again ...

Cheng
0 votes Thank Flag Link Fri Jun 6, 2008
True. I heard someone just bought a 1br 1ba condo at Edison Hollow South for $196k, that can walk to Edison Train Station. We used to live there. and I also heard a $1.4 million house just sold under attorney review at 7 Sunset Av, Edison http://www.realestateshows.com/show.php?mls=strict&id=227541
0 votes Thank Flag Link Thu Mar 27, 2008
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