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Home Buying in Basking Ridge : Real Estate Advice

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  • Local Info10
  • Home Buying24
  • Home Selling3
  • Market Conditions2

Activity 29
Sun May 22, 2016
Dietric Williams answered:
In California we would submit a notice to close form. Essentially the said party has three days to close or the deal can be cancelled. You'll lose some money from inspection, etc. but its sometimes a good resource to get the other party to get a move on. ... more
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Wed Jun 24, 2015
Sanj asked:
I'm looking for a single family house in Basking Ridge area mostly due to public school ratings. I have noticed some houses in Basking Ridge address are assigned with either Bernardsville…
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Fri May 29, 2015
Anna M Brocco answered:
If the property was listed with a broker ask the agent to remove the information, or contact customer service directly Be aware that photos may appear in other sites as well, therefore you may wish to Google your address. ... more
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Sat May 2, 2015
thinz answered:
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Wed Apr 8, 2015
Jeanne Feenick answered:
Yes, there are a number of listed properties in which that is the case - the reason is because they have a Basking Ridge mailing address - but they are in Bridgewater and they feed into the Bridgewater schools.

My areas of focus include both Basking Ridge and Bridgewater - if I can be of service, please do not hesitate to reach out to me.
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Fri Feb 7, 2014
Jeanne Feenick answered:
Kevin, I notice now that you have posted this in "home buying in Basking Ridge" - if you are considering this community I know it very well. I assisted a relocating client (with Deloitte) that began the search in Summit and they ended up buying a home in Basking Ridge because they got a lot more for their money and the commute was still acceptable. if your work is in Summit then it is an easy shot on 78 to get there from Basking Ridge.

The Basking Ridge market is very strong - it did better than its peer communities through the recovery and its "time to sell" is 3 months - the rate of sale has been in this range - even going lower over the last 12 months. Here too, I believe you will be fine over the period of your assignment if you were to buy in Basking Ridge.

Inventory is tight generally, with buyer demand outpacing available homes. You will be well served by working with a strong agent that can assure you have your finger on the pulse in communities you target.

To search among available homes in Basking Ridge, visit:

If I can be of further assistance, I am here....

Jeanne Feenick
Salesperson, Keller Williams Towne Square Realty
Unwavering Commitment to Service, Unsurpassed Results
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Thu Feb 6, 2014
Shalu Thaman answered:
The computations are based on different factors & for different purposes, thus assessed value is not an accurate measure of market value.

A way to understand how this works is to look at it from another perspective ; If the list price was $100,000 LESS than assessed value, would a buyer pay the assessed value for the purchase price ?

Assessed values are based on valuation of the land + improvements on the structure.
Market value is the saleble price that a buyer would pay, based on the existing market condition

Shalu Thaman - Realtor,ePRO,ABR,SRES
Keller Williams Princeton Real Estate
Cell # 609.577.5861
Fax # 609.613.5907
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Tue Feb 4, 2014
Jonathan Faccone answered:
My agent is great. I only will work with competent motivated individuals that put other's needs first. Let me know if would like their information.


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Mon Jan 20, 2014
Jonathan Faccone answered:
No it is not required. It doesn't cost you anything as the buyer to work with a buyer's agent so many good qualified buyers do. Because demand is there for your desired area, I would probably advise on getting the help of a competent agent that knows the Basking Ridge area in and out. This way it gives you the best shot on actually getting a property in that area in your budget. Best of luck,

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Mon Jan 6, 2014
Sandra Scranton answered:
As someone who bought and sold a home on a busy road I can tell you from experience that if the price is right, it won't make a difference to some buyers.

When we purchased our home we had small children but the house was set well back from the street and had a securely fenced yard for the children to play in. We never had a problem with being located on a busy street during the thirty plus years we lived in the house. When it came time to sell it we discovered there are simply some people who will NEVER buy a home on a busy street and others for whom it was not a deal-breaker. I was told by my realtor that when listing a home on a busy street this is usually taken into consideration and the price is lowered a bit, but not significantly. As a realtor I would consider doing so as well but it would be on a case-by-case basis and NOT a specific dollar amount - all other things being equal with homes with comparable size and amenities.

Good luck on your home search.
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Sat Mar 9, 2013
Lyle Wolf answered:

Most people interested in short sales/foreclosures are really just looking for a "good deal". There are actually 4 different types of short sale/foreclosure opportunities in New Jersey. There are some other types of unique motivated seller situations that can also be a source of a below market home purchase. Each have their advantages and disadvantages and requre a Realtor with specialized experience to help their client get it right.

If you want to learn more come to one of my free seminars at our office in Morristown, NJ where I discuss all of these situations. The seminar is:

All About Short Sales & Foreclosures"
Selling or Buying: Learn The Secrets & Learn The Facts

Saturday March 16, 1pm-3pm

Call 973-563-9722 or email me at to reserve a space.
If you can't make this date we have 2 dates in April that might work for you.
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Tue Jan 29, 2013
Mary Petti answered:
Fri Aug 17, 2012
Jennifer Blanchard answered:
Sun Jun 10, 2012
Louis Larosa answered:
Many buyers have questions about the difference between assessed values, list prices and sale prices. Some facts to keep in mind:

- Assessed values are as of October 1 of the year past. List prices can fluctuate over the year, and if demand becomes very high or drops off in a certain neighborhood, list prices may go up or down accordingly. Also, a homeowner may have made updates after Oct 1, so the assessment does not always take into account all upgrades.

- Often the Township assessor is not able to get access to a home forcing the assessor to estimate. For example, for one of my buyers, I checked the Township's property tax record card to confirm the square footage for a home for sale in the Hills. The assessor had not been able to tour the home, so they estimated the basement was fully finished and based the home's tax assessment on that; however, only a small portion of the basement was actually finished.

- List prices and sale prices are also usually different. A tax assessment does not mean that an interested buyer will be willing to pay the seller's list price. In some cases, homes will have to have price reductions before it comes into line with market values. In other cases, there may be bidding wars where the sale price ends up higher than the list price.

I recommend looking at tax assessments only as a broad guide, because you cannot assume the assessment is the true current value of any home. Reviewing recent sale prices of comparable homes is the best way to evaluate whether a home's list price is reasonable, overpriced or underpriced.

If you are considering making an offer, or would like to know values of a specific area or neighborhood, ask a local real estate agent to send you the selling information for comparable homes that have sold in the past six months in the same area or neighborhoo of a home you like.

When I work with buyers, I often send them the listings from recently sold homes so they know actual current market values of comparable homes, by looking at location, pictures and sale prices. Ask your agent for this information, or feel free to contact me if you are not working with an agent yet.
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Mon Mar 12, 2012
Laura Giannotta answered:
If you are doing substantial renovation, even if the lead paint is covered now, you'll be disturbing it with the renovation. Testing is recommended.
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Thu Nov 10, 2011
Jeanne Feenick answered:
HI Prashanth, this is my market - yes, both towns are attractive, and your assessment is on the mark. In your price range you will have many more choices and get much more house in Bridgewater than in Basking Ridge. I know the inventory well in both towns and can say this with some authority.

Here is some great inf on both communities - you'll find market info, community demographics and school info.

...and Bridgewater:

Here is my recommendation, while the inventory will change over time, the basic composition will not. What you are seeing in types of homes that are availabe in your price range in these two towns will not change by waiting. Houses will come and go, but they will be replaced with comparable others.

I'd be happy to explore these two communities in greater detail with you - I know them well.

Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
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Wed Mar 30, 2011
Jeanne Feenick answered:
Regina is right - the Spring market has been delayed this year due to the rough winter weather. Usually, we would be further along. But it is underway now, and if you are interested in buying in 2011 the Spring Market will be the time that you see the greatest influx of inventory. There are more homes to consider, and more buyers in competition to buy. The smartest sellers price wisely right out of the gate. Homes that are priced right are selling quickly. We are feeling the effects of pent up demand - buyers are active and interested in doing deals.

If you are a seller, the delay in the Spring Market has created a sweet spot for listing now - many sellers have delayed their listing plans by several weeks/months because of the rough winter. Sellers that have listed or are now, are enjoying more attention with less competition. That will change as more listings hit the market.

I am telling my sellers, list now, capitalize on the "sweet spot". And if not ready, then move as quickly as possible since the most robust period of any calendar year for selling a home is the Spring Market.

Jeanne Feenick
Unwavering Commitment to Service
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Wed Feb 23, 2011
Jeanne Feenick answered:
Hi Poona, you are right in Debbie Rose's area of expertise if your search is shifting to Florham Park. You may want to post your question specifically to that area, it has been posted under Basking Ridge home buying here. If Basking Ridge is on your short list - and there are many reasons why if often is a top choice among buyers, and/or other Somerset County townhome/condo communities, I know them well and can - and would like to - help you.

Generally speaking, and to add some levity to the weight of this winter season, I would agree that township/condo ownership and its "snow removal included" advantage has really become appealing this winter! There are loads of options - and as Debbie stresses, so much of it depends on your personal preferences.

Jeanne Feenick
Unwavering Commitment to Service
... more
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