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"Having run an international company, I could appreciate the marketing that Tom did for our house. He priced it correctly at $2,250,000 and implimented a marketing plan which produced two full price offers in a few weeks. We were impressed with this extremely thorough transaction."
~Satisfied Seller
"Please let me take this opportunity to thank you for moving my property in Short Hills. I was told that the McDonough name was magic when it came to selling or buying property - now I'm convinced."
~Satisfied Seller
Are you looking to get out for a date night in the local Summit, NJ area and don’t know anyone who can babysit?
Contact the American Red Cross in Summit and request a list of recent graduates of their Babysitting Certification Course. This course, that is taught throughout the year, teaches local teens how to babysit responsibly.
Also, as always, if you have any questions about Summit NJ Real Estate, feel free to contact me, Tom McDonough, anytime.
It is time for Girls Night Out in Summit!
Summit Downtown Inc. is hosting its third Girls Night Out event on September 30 from 5 to 9:30pm when women from the area and visiting towns will stroll downtown sidewalks to shop and dine in Summit’s great establishments.
Over 55 vendors have signed up to offer participants with sales, entertainment, and refreshments.
Admission is free but participants can pre-register to qualify for prizes. Approximately 800 women attended the event in previous years and about 400 have already signed up for 2010’s Girls Night Out!
Women can check in at one of three welcome booths, located at the Beechwood Promenade on Beechwood Road, the Summit Promenade on Springfield Avenue and in front of 335 Springfield Ave. at Cove Carpet.
The Grand Summit Hotel and the Debary Guest House will be anchoring the night on ends of town.
SDI Chairwoman Nanette Kryston was quoted in newspapers saying, “We hope women will come out for a fun evening to support their favorite businesses, discover new favorites, and share what Summit has to offer with their friends.”
Active – 89
Attorney review – 5
Under contract – 43
Sold in the last 12 months – 277
New listings in the last 14 days – 5
The number of available homes for buyers to purchace is under 90 which is again a new low. The sales are steady as they averaging 1 per day. The summer is traditionally a slow time of year. Next week the kids go back to school. In 3 weeks when autumn begins the market should have picked up. It will be interesting to see the new listings that apear at this time. Both prices and rates remain at a desireable level. Hopefully sales increase and continue the favorable market that everyone is enjoying.
www.tommcdonough.com
tom@tommcdonough.com
From the Associated Press:
On Sunday, September 26, 2010 the Akian family of Summit, NJ will be hosting our first charitable fundraiser entitled Ride 4 Avi: Motorcycle Tour and Family Fun Day in honor of our eight year old son, Avedis. Avedis is affected by a rare progressive, neurodegenerative disease called ataxia telangiectasia (A-T). A-T has been likened to having cerebral palsy, cystic fibrosis, muscular dystrophy, cancer and immune deficiency all rolled into one.
The event will take place at the Springfield Columbian Club Hall from 9am until 2pm. The Columbian Club Hall is located at Harvard Streets and Shunpike Road in Summit, NJ. All donations from the day’s events will benefit the Ataxia Telangiectasia Children’s Project, a non-profit 501 (c) 3 organization, whose mission is to fund first rate biomedical research in the hope of finding a cure for A-T.
The day’s events will feature a guided motorcycle run. Riders can register from 9am-10am, with a 1.5 hour ride following. Family fun activities will begin at 11am and include juggling, magic, face painting, temporary tattoos, spin art, crafts, performances by the Blackberry Blues Band and some local musicians. Donations are $20 riders, $10 adults, $5 children (3-12). Donations are tax deductible to the fullest extent of the laws and include a barbeque lunch.
A-T is a rare, genetic disease; that affects only about 500 kids/young adults in the U.S. A-T attacks in early childhood; after a healthy, normal infancy and toddlerhood; it progressively affects coordination, predisposes children to deadly cancers, and severely compromises their immune systems. Children with A-T are usually unable to walk by the age of ten and many children suffer life threatening infections and illness in their teenage years. Children with A-T maintain normal to above normal intelligence and are trapped inside a body that no longer works.
Sadly, A-T is what is termed an “orphan disease.” It has not been adopted by the pharmaceutical industry because there is little financial incentive in finding a treatment or cure for so few children. Privately funded A-T research is rapidly progressing though toward a cure for this devastating disease. Finding a cure for A-T is also thought to make a positive impact on finding cures for other more prevalent disease such as Parkinson’s disease, Alzheimer’s, immune diseases and cancer.
For more information log on to www.ride4avi.com
For anyone under the age of 57, mortgage rates are at the lowest point ever in their lifetime.
This fact isn’t lost on a growing number of homeowners who have started a new wave of refinancings……
To Continue Reading…
http://www.baltimoresun.com/business/money/bs-bz-ambrose-refinance-20100831,0,4581872.story
Read more about a great program that connects youth and elderly at SAGE Eldercare in Summit, NJ here
Active – 92
Attorney review – 3
Under contract – 41
Sold in the last 12 months – 275
New listings in the last 14 days – 14
The inventory of available homes for sale continues to drop in Summit New Jersey. In the last 2 weeks of August this number could go below 90. Although this is a very slow time of year, the trend is fewer homes for buyers to choose from. This is very good news for sellers because it has caused prices to rise 5.3 %. Homes are being priced better and are selling in less time. Buyers are taking advantage of of better values as well as extreemly low interest rates. For now it looks like the market has corrected itself to a “new normal”.
www.tommcdonough.com
tom@tommcdonough.com
The inventory of homes for sale in Summit is getting to it’s lowest level in years.
Active – 96
Attorney review – 4
Under contract – 50
Sold in the past 12 months – 281
New listings in the past 14 days – 9
The available homes for sale are down over 10% in two weeks. Only a year ago that number was around 170. Houses under contract, sold and new to the market are also down. Much of this is simply due to August is a slow time because of obvious reasons. When the inventory shrinks, prices stablize and begin to appreciate. Sellers are more inclined to list their home for a realistic price. The buyer recognizes this and with low interest rates they feel better about purchasing a home. We have been waiting for the market to correct itself which takes several years. From the looks of things real estate in New Jersey is entering a “new normal” that we all might enjoy.
www.tommcdonough.com
tom@tommcdonough.com
Today I’m going to list the home sales categories the for the activity in the Summit New Jersey real estate market so we all can follow the statistics more easily.
Active – 110
Attorney review – 4
Under contract – 55
Solds in past 12 months – 283
New listings in past 14 days – 11
As you can see the homes for sale have dwindled each week for the last month to a level that we saw at the holidays. This is due to the time of year where the buyer’s and seller’s attention is on enjoying the Summer. Homes that are in good condition and priced within 5% of their market value are selling within 30 to 60 days. Interest rates and prices remain stable which should keep buyers in the market.
Tom McDonough
www.tommcdonough.com
tom@tommcdonough.com
In the Summit New Jersey real estate market homes for sale number 114 which is down 10% from a month ago . Those that are priced over 1 million represent 24% as opposed to 33% in the past year. There are 4 that are in attorney review while only 9 new listings have come on in the past 2 weeks. With inventory down, the prices have remained stable and have gone up. Sale are also down. The number of homes that are under contract is down 30%. This slow down in activity is related to the Summer rather that economic conditions at least for the moment.
www.tommcdonough.com
tom@tommcdonough.com
