Mary Petti

Anu,

Just to let you know a new listing at 278 Westgate just came on the market at $369,900. Check out the link below and see how it compares to yours.

http://msx.mlxchange.com/Pub/EmailView.asp?r=1850408436&s=MS… - Wed Jul 23 2008, 11:58

Cheng ,

As much as we appreciate your diligence in monitoring Edison Real estate sales transactions,
PLEASE note that 109 Linda Lane was LISTED at $399,900 and SOLD at $378,000 NOT $399,900 as you stated in a previous post.

I would again respectfully ask you to refrain from pretending to be a real estate agent and submitting incorrect information which would potentiallly misinform sellers and buyers alike.

HERE is the link to the closed information on 109 Linda Lane:

http://msx.mlxchange.com/Pub/EmailView.asp?r=947127193&s=MSX&t=MSX - Wed Jul 23 2008, 11:51

Anu,
You are very welcome. I got an email yesterday about the price change but was unabale to get to a computer till this morning to acknowledge it. (I monitor new listings, changes in status and price changes in several areas in town). I understand your concern about the upgrades, however in this market its not what you want for the house but what the buyers are willing to pay for it. Good luck !!!!
Mary - Sat Jul 19 2008, 06:48

Anu,
Just FYI, I copied the informationbelow which I posted on another thread. I read your website posting of the house, and in my professional opinion, even with the upgrades, it is priced a bit high for Westgate Drive locations.

Because they are newer and farther away from the trains, Linda Lane units tend to sell higher than Westgate Drive. There were 5 closings of listed units in Linda Lane since February. They were from $350K (June), $361K (March), $365k (June), $370K (June) and $385K (March). As of this post, there is one unit available listed with the MLS (in addition to the FSBO's) at 51 Linda Lane listed at $378,900.

There were 8 closings on Westgate Drive ranging from $315K (April) to $359K (March). There are currently 7 units available on the MLS ranging from $349K to $369,999.

If as you indicated you want to sell quickly, I would suggest two things. Either lower your price a bit even as a FSBO, OR list it with a Realtor for the proper amount. Listing with a Realtor will give you TONS more exposure, since we have the ability to reach more agents with buyers (who are qualified), we pay for the advertising, YOU don't have to be home to show the house (lockboxes are a blessing), you don't have to field emails and calls making appointments (and wait around sometimes for no-shows), we do the open houses for you, AND we can help guide you through the selling process (which is often complicated).

I have lived in Edison since 1983, and I have been in almost every Westgate unit on the maket recently, or recently sold, and have sold a few there myself. If you are interested, I would be happy to discuss it further.
You can email me at PruMaryNJ.com.
Go to my website below to see that I can do for you. Click on "NJ Sellers" tab for lots of information. In any case I wish you good luck. - Mon Jul 7 2008, 10:27

VIctor, Every once in a while they are against the back wall in town hall chambers. Actually the wall of trophies is my terminology for it. Usually it is 5-10 signs, they are not posted on the wall , just stacked up against it. - Sat Jul 19 2008, 06:22

WOW Victor that was VERY ambitious on your part.
As far as the signs go, there is a no sign ordinance on the record and if you go to town hall periodically to will see a "wall of trophies"...a wall covered with confiscated signs...quite amusing though sometimes they are mine.

In the venting mode, I have put out for sales signs on one of my listings in south Edison and 4 times in the last 2 weeks they have been removed. I had a similar problem on the same street about 4 years ago, same corner. I even asked the homeowner if I could place the sign so its not them... meanwhile, I pay $75 for a dozen step stake signs, and it's like flushing it down the toilet. - Fri Jul 18 2008, 06:09

Anu,
To tell you the truth, when ever I place signs for an open house in other condo developments on a Sunday at 12 or so, If I don't pick them a few minutes after 4 PM (end of open houses) the condo association police pick them up and throw them out!. Maybe it's someone from the association and they don't want to admit it , but in any case I agree that this is a really childish act and needs to be stopped. Again I certainly hope it is NOT a realtor, but whom ever it is needs to be sent a message. Good luck finding the person(s) who are doing this.
Mary - Mon Jul 14 2008, 16:32

Anu,

As a Realtor I find it very difficult to believe that another Realtor would stoop so low as to steal FSBO signs. We ALL deal with FSBOs regularly in our market areas, and they are a part of life. It's the same as me (a Prudential agent) stealing a Re/Max or Weichert for sale sign on the same block as one of my listings.

I know from my own experience that MY "house for sale signs" and "open house signs " (which I pay for out of pocket) disappear on a regular basis. Sometimes they are the results of kids playing games, sometimes they are the result of lawn maintenance companies removing them to mow and not replacing them, and sometimes they are the police, the homeowners association , or homeowners themselves removing them.

I certainly hope it turns out NOT to be a Realtor, but please remember there are bad people in every profession (including lawyers LOL), but that does not mean the rest of us are not honest and above petty games.

FYI: I just did more basic comps. There were 8 closings since January 1, 2008 on Westgate Drive. The average days till a CONTRACT was 20 with the maximum being 48 days. The average sale price was $339K with the Max being $359K.
MOST importantly there are 8 units listed in the MLS including yours (your direct competition) and yours is almost $29K higher than the next highest and over $38K higher that the lowest three.

If you don't get a contract soon, please consider me as an alternative to remaining a semi-FSBO. In this market, several things work to your disadvantage with that. 1) Unrepresented buyers will often offer much lower, figuring you aren't paying a full commission (or ANY commission) and sometimes they are not even qualified to purchase the house 2) Even in the case of Westgate, where homes tend to sell quickly, Realtors who know the area will know your house is $30K overpriced, as will their buyers when the do a CMA for them. Most often, if someone is interested in Westgate they see ALL the available listings and compare them to each other as far as updates / location / condition are concerned. You may very well not get offers, your house will remain on the market longer, and/or they will make offers in the median price range since there are 7 others competing with you which are priced lower, and the sold comps do not justify an asking price of $388K.

In any case I wish you good luck whatever you chose to do.

Mary - Mon Jul 14 2008, 08:56

Jack,
The nice thing about the Westgate II phase (Linda Lane as opposed to Westgate Drive) in addition to the fact that they were built after Westgate I, is that they are far away from the trains. They too have their own pool complex, and the builders changed some of the designs (for example: balconies are different and the retaining walls are concrete not wood.) Looking at the pictures of the For Sale By Owner (FSBO) they certainly did a nice job in the kitchen and the views are lovely, however it is still close to the trains.

That being said, here is a link of the homes in the same general vicinity of the FSBO, (nearer the trains) with pictures of their interiors, list prices and sale prices. You can come to your own conclusion if the asking price is fair based on these. I also suggest you drive around the complex and see exactly where the units are and wait for the train. Some people love it, some hate it, some don't care either way. http://msx.mlxchange.com/Pub/EmailView.asp?r=704122988&s=MSX&t=MSX

Because they are newer and farther away from the trains, Linda Lane units tend to sell higher than Westgate Drive. There were 5 closings of listed units in Linda Lane since February. They were from $350K (June), $361K (March), $365k (June), $370K (June) and $385K (March). As of this post, there is one unit available listed with the MLS (in addition to the FSBO's) at 51 Linda Lane listed at $378,900.

There were 8 closings on Westgate Drive ranging from $315K (April) to $359K (March). There are currently 7 units available on the MLS ranging from $349K to $369,999.

I am very familiar with the development, have been in most of the units currently on the market, under contract, and/or in attorney review, and would be happy to help you out if you are interested in seeing any of the properties. I can certainly email you the rest of the units currently on the market if you'd like.

Mary Petti - Sun Jul 6 2008, 07:50

Cheng,
240 (not 420) Westgate sold at $345,000. I should know I sold that unit. See the following link and look at bottom left. "SP" is Sale Price.
http://msx.mlxchange.com/Pub/EmailView.asp?r=258037635&s=MSX&t=MSX

Here are ALL units in Westgate A,AR, U, C since May 1, 2007
http://msx.mlxchange.com/Pub/EmailView.asp?r=335238131&s=MSX&t=MSX

Where are you getting all this info from?? - Sat May 10 2008, 13:39

Hello all,
Just wanted to toot my own horn a bit and let you know I was the agent who sold 240 Westgate. It closed at $345,000 on March 26 2008. Anyone else interested in selling a unit in the development, or anywhere in Edison/Metuchen please email me for a free market analysis. I also just listed a 2 story, 3 bedroom, 1.5 bath attached colonial in Woodbrook Corners for $385,000. (it should show up on Trulia soon-as of this post it is still pending going active) Keep those comments and postings coming !!! - Fri Apr 4 2008, 14:35

Another FYI...none of the homes you list below have closed as of yet. The prices you give are the "List" prices, not the "sold" price. We won't know what they actually sold for until they have closed. - Wed Mar 19 2008, 06:32

OK, heres the easy answer.
1) no development is ever "sold out" unless its just been built. Homes in EVERY "existing" development whether condos like Westgate or single family like Woodbrook, always have a certain amount of turnover. The reasons for selling vary from job transfers, kids grew up and house is too big, divorce, death of a spouse, retirement.... blah blah blah. The number of homes that become available will always vary. and sometimes there will be no homes for sale at all in a particular area.

2) If a house is listed by an agency, and sells while still listed by an agency , it will ALWAYS be sold by an agent. It will NOT be sold by the owner directly to a buyer during the listing time. A seller signs a contract for X amount of time and until that times expires, or the house is withdrawn from the market, the home remains on the MLS for the listing agency or any other agency to show and sell. (unless in rare rare rare cases where there were other arrangements made between seller and agency)

3)To reiterate what I have said before, licensed real estate agents look at the MLS for properties for their buyer clients, we do not waste time searching multple sites like yahoo, google, trulia, etc. ALL homes listed with an ageny are located on the MLS, all in one place/ They may also be placed by individual agents onto other websites to increase their listings exposure to potential BUYERS.

4) to answer about 180 Westgate, yes it was listed by C-21on 1/16/08, had a contract on 1/29/08, came back on the market on 2/27/08, and just got another contract on 3/12/08. In this case it was "sold" by an agent from the same office but YES is was sold by an agent.

5) as far as real estate being slow let me say this...what you hear on the news is NATIONAL averages, not local info. Stats vary greatly from national to local. For example the "average sale price" nationally is around $210,000. Does that apply to EDISON?? No way. I will also repeat what I said before...a knowledgable real estate agent will know how to price a home properly for THE CURRENT MARKET and more importantly, know how to get your home to "show" in the best possible light . With so many homes on the market, the competiton is great. If the home is priced right and shows well, it will sell more quickly than an overpriced one with similar amenities. Yes some homes, no matter how well they are priced do linger on the market for any number of reasons, prices are lower than they were in 2005-2006, and it is taking longer in general for homes to sell... but they DO sell. - Fri Mar 14 2008, 05:35

FYI... 110 Westgate was listed by an agent from Coldwell Banker and sold by another agent from another agency. Real estate agents don't search Trulia for properties for our buyer clients, we use the MLS. Sites like this and other real estate sites don't have the full compliment of listings that are on the MLS. YES this site (and others) are great for buyers to find a listed property to ask their agents about , but for CURRENT, up to date listings we utilize the MLS system. Many sites (Realtor.com included) require paid subscriptions to have listings appear on them, and others like this one, require an agent to manually post their listing information (which many don't do). Just for example, as of this morning there are currently 292 single family properties for sale in all of Edison. I don't think there are that many on this site. Hope that helps :) - Wed Mar 12 2008, 01:50

Trulia IS another great place to find homes for sale, and ask questions or chat about the area, but I wouldn't say IT sells homes. - Mon Mar 10 2008, 07:43

Cheng,
My Trulia identity clearly identiifies me as a Reat Estate Professional. - Mon Jul 14 2008, 16:48

Cheng,
Thanks for your kind words, however PLEASE do not attach links I place in my Trulia answers from the MLS into your answers. It makes it appear YOU are the real estate agent, and could be considered a misrepresentation of yourself.
Thank you - Mon Jun 9 2008, 21:10

Marie,
Although I applaud Cheng for all his answers, he is not a real estate agent. I am a real estate agent. I think you will be better off with a condo, even tho there is a maintenance fee, you won't have to worry about snow removal, grass mowing etc. You didn't mention if you would be driving to and from campus, tho I suspect you will. Several things are in play here. You need to speak to a mortgage professional to get an idea of your buying power. Second, since you will be living alone, it limits the neighborhoods that are considered a "safer" environment. Third, is that even condo's are not that inexpensive in the "nicer " areas

Send me an email and let me know when you will be in NJ : PruMaryNJ@aol.com.

Here is a link to several nice townhomes in the area surrounding Rutgers.
http://msx.mlxchange.com/Pub/EmailView.asp?r=1863942683&s=MS… - Tue May 27 2008, 15:29

J,
I am a Realtor, and have lived in Edison since 1983. Although I serve all of Middlesex County, Edison is my specialty. Edison is a well established township and most of the newer homes are a result of taking down older homes and building new ones, except for a few areas that were never developed and in the last few years got approvals to build homes. If you want, please email me what you are looking for, where in Edison, and the price range and i would be happy to send you information on what is available.

Mary - Mon Jul 14 2008, 16:39

OK,
First of all, all I meant was that I have no problem with you promoting another realtor's abilities. However, I do think just as Realtors are REQUIRED to say in ANY advertising of other agents listings "offered by Prudential" or "Offered by Mary Petti", you should at least give credit to the LISTING agent even if you promote another agent to try to help sell it. ANY agent who lists a house has as their primary goal... getting it SOLD. That's why when we list it in the MLS and cooperate with other agencies. we get EXPOSURE and a larger buyer base/ selling agent pool to get the house sold.

You also said in one of your posts (I am going to follow Victors lead on this):
CHENG:
Can buyer ask question on MLS? or Realtor.com? or Craigslist? ... no! Even if some buyers asked questions on city-data, they would not get as detailed info about Edison and Piscataway and Metuchen ...etc. Why? Because I do not post on city-data. Moderators there are less professional like Trulia, and they are very bias and ethnics discriminate as many told me.

MARY
While you may not be able to ask questions in a forum like Trulia on Craigs list or Realtor.com, anyone can email an agent from those sites (as long as the agent provides their email address) and ask a question. I know I get many emails from potential clients and am always happy to provide information on the market, etc. the same as I do on Trulia.

CHENG:
Dear Mary, the word "sold" buyers use is very different from the word "sold" licensed realtor used. e.g. a pretty girl already sleep with another man, in Chinese we think the girl is to be married with that man, but Americans may think, no, it is not leagally married. In computer science, it is called "overloading", meaning a word mean differently in different context. Somehow, all buyers I asked, they have absolutely NO problem understand the English, e.g.

MARY:
YES a word has different meanings in different contexts. In this case and once and for all, in the REAL ESTATE CONTEXT, nothing is "sold" until it closes. As a matter of fact, you routinely post listing statistics from the MLS. When whom ever is sending them to you looks them up, the actual listing reflects the "C" or closed status, even though they search for "sold" listings.

I have seen MANY homes be in attorney review and/or under contract, only for the transaction to fall apart somewhere down the line. I have my own analogy: Just because you look at a car and like, it doesn't mean it is "sold" to you by just making a deposit on it. It is sold when you own it and pay the full price to the seller. In Real Estate, "Attorney review" means just that...."Under Contract" means just that..."SOLD" means the transaction has been finalized.
Mary - Mon Jul 14 2008, 10:52

By the way, I clicked on your "blogspot" from your previous post, to check it out. The blog is only one listing (1501 Timber Oaks) and the pictures are from the MLS listing. You also mention calling Ching in that blog. I happen to know there is another realtor in the area by that name, and it is not her listing. While it is wonderful for you to promote any agent of your choice, I am not so sure the listing agent of this particular property would appreciate you using her pictures on your blog to promote another agent. The MLS has strict rules for their members which does not allow other agents to "copy and paste" pictures from another agents listing. Also, if the broker that listed the house subscribes to IDX, AGENTS are allowed to advertise another brokers listings on their websites as long as credit is given to the listing agent/agency!!! Since you are not an agent, (and I am still wondering how you get all this imformation) I am not sure how it applies to you, but I do think the listing agent should get credit for the home rather than have your blog imply it was another agents listing altogether. - Fri Jul 4 2008, 06:25

Cheng, again you are almost right. This house was NOT sold by Trulia. It was listed in the Middlesex County MLS. After an open house this past Sunday, there were multiple ofers on it, and the seller took one of those offers. We will not know what is "sold" for until it closes. I really wish you would refrain from posting "sold" properties when they are merely in attorney review or under contract. And again I ask you, where are you getting this information from??? - Fri Jul 4 2008, 06:07