Fair Haven Real Estate: 3rd Quarter Update

This Fair Haven home at 15 Buttonwood Drive (on Schwenker's Pond) sold in September for $715,000

This Fair Haven home at 15 Buttonwood Drive (on Schwenker’s Pond) sold in September for $715,000

People who contact me after reading my blog are mostly folks who are thinking of BUYING a home in Rumson or Fair Haven, so starting with this post I’m going to target my real estate updates to home buyers rather than sellers.

September was another slow month for Fair Haven home sales, with only 6 home sales compared to the 9 sales last September. Year-to-date, 6% fewer Fair Haven homes sold this year compared to 2013. Normally, fewer sales indicate less demand, and less demand tends to lead to lower prices. However, the year-to-date statistics still show that 3 of the 4 key real estate indicators look unfavorable for home buyers (there are fewer listings (less supply), the real estate absorption rate (months’ supply) is shorter and the median sales price is higher):

    Fair Haven Single-Family Home Sales, January 1 – September 30

                                    2013                2014                Comment

Sales                              78                   73      6% fewer homes sold.

Listings                         29                    27      7% fewer homes on market.

Months’ Supply         3.5                  3.1      Stronger demand vs. supply.

Median Sale         $660,000      $699,000     6% higher median price.

The real estate market did weaken a bit in the third quarter. At the end of the 2nd quarter, all 4 key indicators were in red or italics(i.e., bad news for home buyers): sales were up 28%, listings were down 3%, the absorption rate was 2.9 months and the median sales price was up 12%. The year-to-date number of sales was down 3% at the end of August and is now down 6%. In all of 2013, Fair Haven home prices increased only 1%, so a 6% median price increase so far this year is not such bad news if you’re planning to buy a home in Fair Haven. I’d be glad to show you the homes that are available in Fair Haven in your price range- just give me a call.

There’s still time now for you if you want to move to a new home before the end of the year, but you should get a letter of pre-approval from a mortgage lender. When you submit a copy of the pre-approval letter with your offer to buy a house, it reassures the seller that you’re financially able to complete the purchase. At about mid-November, the real estate market becomes very quiet, with only a few buyers and sellers active until early February.

Len

Leonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

 

 

Posted in Fair Haven Homes Sold, Fair Haven NJ Real Estate, Rumson Fair Haven Real Estate, Rumson Fair Haven Real Estate Agent, Rumson Fair Haven Realtor | Leave a comment

Rumson Real Estate: 3rd Quarter Update

This home at 30 Club Way in Rumson sold in September for $2,382,650.

This home at 30 Club Way in Rumson sold in September for $2,382,650.

Fall is in the air, and we’re already into the 4th quarter of the year. 11 Rumson homes sold in September this year compared to the 10 that sold last year. However, our year-to-date statistics still show that 3 of the 4 key real estate indicators look unfavorable for home sellers (fewer homes were sold, there are more listings, and the real estate absorption rate (months’ supply) is longer. The only positive indicator is that the median home price is still up 1%:

 

    Rumson Single-Family Home Sales, January 1 – September 30

                                    2013                2014                Comment

Sales                              91                   78      14% fewer homes sold.

Listings                         53                    56      6% more homes on market.

Months’ Supply         5.5                  5.8      Weaker demand vs. supply.

Median Sale       $1,150,000   $1,157,500    1% higher median price*.

 

If we look back to the end of the 2nd quarter, 2 of the 4 key indicators were positive* (i.e., good news for home sellers): the absorption rate was 5.3 months and the median sales price was up 10%. The year-to-date number of sales was down 8% at the end of June and is now down 14%, so the 3rd quarter has been a disappointment. Still, Rumson home prices decreased by 11% in 2013, so a 1% median price increase so far this year is good (although not great) news.

Of course, there are always two sides to every story. If you’re thinking of buying a house in Rumson, you’ll probably pay less for a home than you would have earlier this year. Having more homes on the market also means that you have more homes to choose from. Lastly, mortgage rates haven’t gone up the way the “experts” predicted they would; in fact, mortgage rates are at a 6 month low. I’d be glad to show you Rumson homes that are in the market in your price range- just give me a call.

Len

Rumson real estate agent Len DunikoskiLeonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

 

Posted in Rumson Fair Haven Real Estate, Rumson Fair Haven Real Estate Agent, Rumson Fair Haven Realtor, Rumson Homes Sold, Rumson NJ Real Estate | Leave a comment

Two Years of Posts

Our Two Shiba Inus, "Inu" and "Ama", at the Hummingbird Feeder

Our Two Shiba Inus, “Inu” and “Ama”, at the Hummingbird Feeder

I started the RumsonFairHavenHome web site two years ago, on September 12, 2012 and I hope you’ve enjoyed the 290 posts I’ve written since then. Most of them have focused on the 4 key, objective real estate indicators (number of sales, number of listings, median price and real estate absorption rate) with specific monthly information for the towns of Rumson and Fair Haven. I did this to provide objective information that wasn’t available to the public anywhere else.

Buying or selling a home is an important decision, and there are many personal, subjective reasons that are part of that decision. However, a home also represents a financial investment, so a decision to buy or sell should also involve the same due diligence you’d use if you were buying or selling stocks or bonds. That’s why it’s so important to know the 4 objective real estate indicators when you’re making a decision to buy or sell.

I’m not saying you should ignore the personal feelings that swell up in you when you think about buying or selling a home. You can’t put dollar values on the enjoyment you and/or your family receive when living in a certain house, or on a certain property, or in a certain town. You’ll remember those feelings for as long as you live, and you’ll remember specific days or events that took place in your past. Who doesn’t remember the house where they grew up, or the first house they bought? Who doesn’t think back to fun times with family and friends?

So today, I’d like to do something a bit different. I thought it might be fun for you to see a picture of our two Shiba Inus, “Inu” the 7 year old male in the red and white coat and “Ama” the 13 year old female in the cream coat. They’re both rescue dogs, and although we believe we’re made their lives better, we also know that they’ve made our lives better too. You may see us walking them in the River Oaks section of Fair Haven where we live. If you do, stop and say hello.

Len

Dunikoski1212webLeonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

 

Posted in Fair Haven Homes Sold, Fair Haven NJ Real Estate, Rumson Fair Haven Real Estate, Rumson Fair Haven Real Estate Agent, Rumson Fair Haven Realtor | Leave a comment

90 Hendrickson Place, Fair Haven

90 Hendrickson Place - Fair Haven

90 Hendrickson Place – Fair Haven

I’ve just listed a terrific house in Fair Haven. It’s an expanded Cape, conveniently located on Hendrickson Place between Knollwood School and Sickles School. It has 4 bedrooms and 4 full baths.

Modern Kitchen with Granite Counter Tops

Modern Kitchen with Granite Counter Tops

The updated kitchen has granite counter tops with a convenient counter area where you can sit on a stool and grab a quick bite. Next to the kitchen is a small formal Dining Room.

Large Living Room

Large Living Room with Natural Gas Fireplace

The large (24 x 14) Living Room has a natural gas fireplace that you’ll love to use in the cold winter months. The home has an economical 4-zone gas-fired forced hot water heating system so you can shut off zones which are not in use. Plus there are leased solar panels on the rear roof that help reduce your electric bills.

Den

Den with Cathedral Ceiling, Skylight and Ceiling Fan

Off the Living Room, a large sunken Den features a cathedral ceiling, a skylight and a ceiling fan.

There are 3 bedrooms and 2 full baths on the first floor; one of the baths even has a Jacuzzi-style bath tub.

Florida Room

At the rear of the house is a wonderful, heated 20 x 15 Florida Room with glass walls on 3 sides and a glass ceiling. Enjoy looking out at your back yard all year!

MBR

On the 2nd floor, the Master Bedroom Suite features a skylight, a ceiling fan, the master bath and a walk-in closet. There’s also a large attic for extra storage.

The basement is partially finished, with a large carpeted area that features a wood burning fireplace, a full bath, and a kitchenette. The remainder of the basement has a shop where you can work on all of your projects.

Back Yard

Finally, there’s a large, sunny back yard with a brick patio. The Owner’s going to leave the patio furniture and the gas grill, which has a natural gas hookup. This is a great chance to be in Fair Haven! The home is listed at $649,900.

Len

Leonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

Posted in Fair Haven NJ Real Estate, Fair Haven real estate agent, Fair Haven Realtor, Homes in Fair Haven | Tagged | Leave a comment

This Week’s Bushel

This Week's Bushel

We just picked up this week’s bushel of fresh organic produce from Honey Brook Organic Farm at Dean’s Market today, and I thought it might be fun for you to see what was in it. As I’ve mentioned before, this is part of the CSA (Community-Supported Agriculture) program where you commit to buying a bushel of organic fruits and vegetables every week for the duration of the growing season.

Today’s bushel consisted of fennel, cilantro, cherry tomatoes, cucumbers, bell peppers, beets (with beet greens), hot peppers, eggplant, tomatoes (including heirloom varieties), romaine lettuce, fresh garlic and zucchini.

Anyone have suggestions for what we should make with these goodies?

Dunikoski1212webLeonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

 

Posted in Rumson Fair Haven Real Estate, Rumson Fair Haven Real Estate Agent, Rumson Fair Haven Realtor | Tagged , | Leave a comment

Rumson Real Estate Update

This home at 92 Ridge Road sold in August for $2,100,000

This home at 92 Ridge Road sold in August for $2,100,000

10 Rumson homes sold in August this year compared to 9 that sold last August. However, the monthly median price was much higher than what it was in 2013. As a result, our year-to-date statistics have changed quite a bit:

    Rumson Single-Family Home Sales, January 1 – August 31

                                    2013                2014                Comment

Sales                             81                   67      17% fewer homes sold.

Listings                       53                    56      6% more homes on market.

Months’ Supply       5.6                  5.8      Similar demand vs. supply.

Median Sale       $1,100,000   $1,145,000    4% higher median price.

At the end of last month, 3 of the 4 key indicators were in bold font (i.e., bad news for home sellers), 1 was neutral, and the median sales price had decreased 1%. Now, one of the indicators has turned into italicized font (i.e., good news for home sellers), 2 are still negative, and 1 is neutral.

We’ve been getting mixed signals from the objective indicators all year, so it’s hard to make short-term predictions about the direction of Rumson home prices. I’ll be keeping an eye on the real estate absorption rate, because it takes into account both supply and demand. The real estate market is normally strong between Labor Day and mid-November, so the next 2 months will probably determine whether we end the year with higher median prices or not.

We haven’t had the big increase in mortgage rates that was predicted a year ago, so it’s still a good time to buy for those who can qualify for a mortgage.

Dunikoski1212webLeonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

Posted in Rumson Fair Haven Real Estate, Rumson Fair Haven Real Estate Agent, Rumson Fair Haven Realtor, Rumson Homes Sold, Rumson NJ Real Estate | Leave a comment

Bell Peppers Stuffed with Quinoa and Caponata

Part f this week's bushel of organic veggies from the Honey Brook Organic Farm

Part f this week’s bushel of organic veggies from the Honey Brook Organic Farm

Earlier this year I mentioned that we’ve been getting a bushel of organic vegetables every Wednesday as part of a Community Supported Agriculture (CSA) program. The vegetables are grown at the Honey Brook Organic Farm in Chesterfield, NJ and Dean’s Market is one of the local pickup points. When you belong to the program you commit to buy either a full bushel or a half bushel of fresh, organic produce for the entire growing season.

The photo above shows some of the contents of this week’s bushel (except for the olives and the capers, which we already had in our refrigerator). Although we have an idea of what we’ll be getting based on a “growing season” chart of what’s expected to be harvested each month, every week is a bit of a surprise. This week’s bushel also contained celery, cherry tomatoes, dill, hot peppers and potatoes.

After unpacking our bushel and seeing so many bell peppers plus the eggplant, shallots, tomatoes and the zucchini, we decided we were going to make Sicilian caponata and use some of it to stuff the peppers. Instead of adding rice to the stuffing mix, we used some leftover quinoa.

If you Google “Sicilian Caponata” you’ll find quite a few different recipes, but all of them begin with eggplant, onions tomatoes and zucchini. We almost never use exact amounts of each, so I assume we’re cooking the way our grandmothers used to do: use what you have, and don’t worry if it comes out a little different each time. We start by cutting up the eggplants up into chunks about 1 inch by 1 ½ inches in size; then we put them in the oven to roast at 400 degrees for about 30 – 40 minutes to bring out the good flavors.

While the eggplant was roasting, we cut up the onions, put them into a pot, add some water and heat them up until they’re soft. I just look in the refrigerator and see what else we happen to have. Today I found some celery and two carrots, so I cut those up and added them to the pot (the carrots make it more of a stew than a real caponata, so you might decide you want to leave them out). Then I cut up each of the tomatoes into 8 pieces and threw them in to simmer. After cutting off the tops of the bell peppers, we removed the stems, cut up what was left of the tops, and threw them into the pot with everything else.

We like our caponata with black olives and capers, so I took about a dozen black olives, cut them in half and added them. Then I took several generous scoops of large capers and added them to the pot as well. After the roasted eggplant was ready, that went into the pot and we let it simmer for about 45 minutes. Then we shut off the heat, poured a few tablespoons of olive oil into the pot, and stirred it up well. If you were just making caponata, it would be ready to serve.

Now we were ready to stuff the peppers: we took out a clean glass bowl and put the leftover quinoa in it. Then we added caponata to the quinoa until we liked the way the mixture looked (probably about 1/3 quinoa to 2/3 caponata, but you might like some other ratio). We saved the rest of the caponata to have some other night.

Bell peppers stuffed with quinoa and Sicilian caponata

Bell peppers stuffed with quinoa and Sicilian caponata

We put the bell pepper shells into a baking dish and filled them with the quinoa-caponata mixture. We covered the baking dish and put it into the over at 350 degrees for 30 minutes; Then we removed the cover and let it bake for another 15 minutes (you can do it uncovered a bit longer if you like it crunchier on top). At that point, the stuffed peppers are ready to be served with a green vegetable, a salad and whatever else you decide to have for dinner.

I’ve been blogging about the Rumson-Fair Haven area for about 3 years, and this is the only “recipe” I’ve posted. Even if you don’t like stuffed peppers, try making caponata some night. The black olives and the capers add just enough salt so you don’t have to add any more to give it a great flavor.

Len

Dunikoski1212webLeonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

http://www.rumsonfairhavenhome.com

@ListWithLen

 

 

Posted in Rumson Fair Haven Real Estate Agent | Tagged , , , | 1 Comment