Interested in moving back to NJ from KY-Louisville. The housing market is very different here, also still very reasonable.

Asked by Zoe, Mendham, NJ Mon Dec 27, 2010

Looking for less than 300,000, 4 bedroom, with a pool, or near a public pool and near good schools!

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Janet Ellis, Agent, Morristown, NJ
Tue Dec 28, 2010
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Hi Zoe:

I have worked the Mendham and surrounding areas of Morris/Somerset counties for 10 years now and know them well. Yours is a tall order in our area. Although prices there have significantly softened, $300K in Mendham will not get you into a 4 bedroom house. Chester and Long Valley have offered some good bargains in that range this year, but our markets are tightening a bit with lower inventory, so its hard to say if this Spring will be as generous.

I find that most people can realistically expect to get about 75% of their wish - no matter what their price range - so I suggest you start by creating a list of your needs vs. your wants. Prioritize your wish list before you choose a town. If the price is firm, that's your first priority and the town becomes second or third on the list. If the sky's the limit, then town may come first. Do you have children in the school system, or is that a future need? Pools here in NJ are useful for only about 3-4 months a year, so you may be better off to choose a town with a nice town pool - Chester, Bernardsville, Succasunna aka Roxbury Twp - come to mind immediately. How about property? Would you rather have more play space in the backyard, or that pool? You get my drift...

If you are serious about looking, start by finding a Realtor to help you properly define your needs and match you to the towns that can offer you the best choices. It will help you avoid a lot of wasted time and frustration.
Web Reference:  http://janetellishomes.com
0 votes
Bob Ritger, , Mendham, NJ
Tue Dec 28, 2010
Zoe -
Although there are locations in NJ where you might find a 4 BR home with a pool for less than $300,000 in Mendham this will be difficult. In the past year only one 4 BR home of any kind sold for less than $350,000 and it was 'as-is' and was marketed to be torn down due to its dangerous structural condition. Only two other 4 BR homes sold in the $350k-$500k range last year and both were also sold 'as-is' as they required substantial renovation. On the market currently the lowest price 4 BR home in Mendham Boro or Twp. is listed at $450,000. Neighboring towns in Morris County offer more inventory that meet your criteria such as Roxbury, Randolph Twp., Morristown, Dover, etc.

I took a quick look at properties in Louisville, KY which currently list at $300,000 or less with 4 BR's and would have to say that a comparable home in this area would sell for far more money here in Morris County, NJ. In some towns it will cost you twice as much to get a comparable home.
0 votes
Murray Plish…, , Parsippany, NJ
Tue Dec 28, 2010
Hi Zoe,
As mentioned by my colleagues, location determines price.
If you are looking in Western N.J,, North,
or way South you stand a chance of finding what you seek. In most of Morris, and Suburban Essex you would find a house needing a lot of work (no pool) and small rooms.
Write back & tell me where you will be working, etc.
and we can do a search for you.
Best of luck,
Murph
Web Reference:  http://www.murphplishtin.com
0 votes
Suzanne MacD…, Agent, Morristown, NJ
Tue Dec 28, 2010
Hi Zoe,

Where in New Jersey are you thinking of locating? That question alone can make a very big difference in finding you the home you want. Where will you be working? How far are you willing to commute? Are you willing to look at homes that need a little work? How much work? These are all very imporrtant questions that must be answered in order to narrow down your search and help you find just the right home in just the right town. I will be glad to do anything at all I can to help. Good luck, Suzanne
0 votes
Bernard Teic…, Agent, Freehold, NJ
Mon Dec 27, 2010
Your first decision is to choose an agent to help you find your new home. Many agents will reply to your question, offering their services. Take some time to interview a few to see who you feel will represent you completely. I would like to be considered, and would welcome an opportunity to interview for the job.

Best of luck:
Bernie
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