Archive for the ‘Morris Plains, Morris Township, Morristown Fisbo’s’ Category

It has been a few weeks since the last time I wrote.  The past few weeks have been very busy but I am back.

What’s going on in the world economy?  Most people think very little.  However things are getting better.  The trade deficit in the US widen in May.  The cause of this is that the value of the dollar has gone up making US goods less attractive to foreign buyers, the European debt crisis has limited overseas demand, and China’s economy slow down have all contributed to the increased. 

Although the deficit has grown what is important to note is that the business is still picking up.  Exports grew in May with the sales of industrial equipment, business machines, and semiconductors.  Imports rose as well with an increase in cars, pharmaceuticals toys and clothing. 

The shining star is the earnings report from Alcoa Inc.  They have reported an increase in sales to the automotive industry by 8 percent and sales to the truck and trailer manufactures by up to 17 percent.  The business environment continues to get better and the Alcoa news is important.  A few weeks ago I spoke of the world wide increase in demand for diesel fuel.  The increase in sales of aluminum to the truck manufactures indicates an increase in demand for trucks.  Trucks haul the majority of goods in the world and more trucks on the road indicate and greater demand for consumer goods Consumers are coming out from under the bed and are back buying.

The Housing Market in Morris Plains has slowed down for the summer.  35 Homes are for sale.  The absorption rate is about 8 to 9 months.  Things should pick up as we move into the fall when people are back from vacation. 

Interest rates for a 30 year fixed rate loan are around 4.5 to 4.75 percent.  Recently I entered the interest rate market for a 5 year adjustable rate loan.  I have been quoted a rate of 3.5.  Not bad mi amigo.  Low interest rates, contrary to popular opinion, are here to stay for at least another 6 months or so.  There is no inflation and unemployment although high has stabilized.  This news maybe an  indication of an improving  economy at least on the local level three people on my street have found jobs. 

So things are getting better just keep the faith and keep moving forward.  Remember “Be the Shark always swimming always moving “

Thank you for reading my Blog Morris Plains NJ Homes.  Here is the Quote;   Act as if what you do makes a difference. It does. “   William James

I have been living in my current 4 bedroom 3 bath homes in Morris Plains for 16 years now.  My sons were 7 and 4 when we moved into this house. My family and I have had some great memories in this home.  When we first bought it I was afraid that this house was just too big.  I even said to my wife “honey this house is just too big” We did not have enough furniture for every room of the house.  The boys slept in the same room. 

 Funny things started to happen.  The boys started to grow.  I have been told that if you feed them and give them water and let them get plenty of exercise and fresh air they get big.  Well after 5 years the 7 year old is 12 and wants his own room because his little brother is a jerk.  The 4 year old is now 9 and wants his own room because his now 12 year old brother is a dufous.   Ok we are good we have two extra rooms no problem.  Wait a minute what about when my mother comes to stay?  There is a phrase that sends icicles down the back of even the bravest of men.  Not a problem we can put a bed in the office and we have a guest room.  We have the room right great. Mom gets Johnnies room (the youngest) and John can sleep in the office.  Great, disaster averted.

Ok things are cool for a year then all of a sudden the boys start growing again.  This is about the time that I noticed that all there friends where getting big.  This fact was driven to the forefront when one Saturday afternoon I came home from running some errands and the younger son and his friends where in the family room watching a college football game.  No problem I like these kids they are all good very respectful.  That  is when I notice my son’s friend “Tree”  (he did not get that nick name because of his love of horticulture)  Here in my home is a 6 foot 180 pound 12 year old with a size 15 shoe, arm deep in a bag of Kirkland pretzels.  Picture the cave scene in the movie “Quest for Fire” and you will have a general idea of what my family room looked like.  The other thing about 12 year old boys is that in a group they all smell like Abercrombie cologne and feet.  We are lucky we have a basement that is big enough to hold them.  A TV a pool table some old couches and we are set. 

 Thud, thud, thud I will never forget the first time I heard that sound the date was June 12 2005 it was 9:30 am the younger one was up and moving down the stairs.  When did he get to be 5’10 and 160 lbs. Mean while the older one needs a car so we need a place to park it?  Oh and by the way the friends keep showing up all have facial hair and each one bigger then the next. 

 So what am I trying to get at?  The house I thought was too big in 1994 was busting at the seams in five years.  That little tiny bundle of joy you brought home form the hospital will soon have a brother or sister or two, then the next thing you know their friends will start showing up.  Think of it as having a diner party everyday of the summer.  There is no better time then now to get into a larger home.  First time home buyers are out in droves.  Starter home prices have stabilized and in some towns have even started go up.  In Morris Plains there are 16 homes with four or more bedrooms that have been on the market and average of 79 days.  There are 6 home in town with 3 or less bathrooms, and have been on the market for and average of 50 days.  Interest rates are low the economy is coming back there is no better time then now to get into a larger home.  You don’t have much time kids get big faster then you think.  Your child could very well have a “Tree” as a friend.  Call me and I will set you up

 Thanks for reading My Blog Morris Plains Homes.  And here is the quote.

Cleaning your house while your kids are still growing up is like shoveling the walk before it stops snowing.  Phyllis Diller

Last Friday the Morristown High School Swim Team held it’s annual “Van Laskos” Memorial Scholarship Fund Swim a Thon.  This is the 6th year for the event and the swimmers raised over 13,000.00.  The event and prize honor a former Colonials swimmer that died of acute lymphocyte leukemia in 2005 just before his graduation. 

The first swim a thon raised $3500.00 for the Valierie Fund Childrens Center at Morristowns Memorial Hospital where Laskos received treatment.  The following year nearly $15,000.00 was raised to help the family cover medical expenses.

The Laskos Scholarship is awarded to a graduating senior of the swim team who best embodies Lasko’s Spirit.  The recipients are chosen by the other members of the team.  Last year Katie Browne and Dillion Pasepone received the scholarship.  Last year was the first time there where 2 athletes where selected. 

You got to love a school  where its students stand up to honor on of their own.  Good Job Colonials.

The Market in  Morris Plains, Morris Township and Morristown area is beginning to pick up.  The absorption rate is still on the high side. Morris Plains is at 8 months the Township is at 6 and Morristown is at 14.  The sale to list price ratio is still around 95%.  Things will pick up again as the buyers come back into the market.  Madison is already back to 4 months.

Hey dont if you are looking for a Colonial in Morris Plains NJ,  Call me about the this baby.

 Thanks For reading My Morris Plains Homes NJ  Blog.  Here is the quote:

“The greatest lesson in life is to know that even fools are right sometimes.” Winston Churchill

  On the weather front we may see a bit of a warming trend here in Morris Plains, NJ over the next few days.  Be sure to enjoy it while you can because the weather dudes are predicting a return to arctic temperatures by the end of the month and into February.

 On the interest rate debate “me culpa” on my last post.  It looks like India and China will be tightening their monetary policy in an attempt to reign in inflation.  This action may weaken the USD which is already under pressure from last weeks disappointing job report and subsequent realization that the Fed will keep interest rates low.

 We have a couple of new listings in Morris Plains, NJ.  Two are on Leamoor Drive listed at 549 and 600,000.  There is a nice colonial on Thompson Way listed at 650,000.  And over on Maple Ave there is a cute as a dickens 2 bedroom 1 bath ranch for sale.  Only one house has gone under contract in Morris Plains so far this year.  There are only 25 homes for sale in Morris Plains so far this year.  The number of mid priced homes is still relatively low.

 Well my house at 9 Cleveland is under contract.  The buyers made an offer on December 22 but with the holidays and travel we finally got out of attorney review on January 7th.    When we originally had the house listed at 629, we had a lot of interest but no offers so we lowered the price 5 percent to 599.  Again a lot of interest and only one offer which was too low.

 After Thanksgiving we lowered the price another 5 percent to 575 and the buyer train pulled into the station we got 3 offers between December 1 and the 22nd. We where able to work a deal and Morris Plains is well on its way to having a new set of residents. 

 The number of refinancings soared in the first week of January as everyone has finally realized that these interest rates can not last forever.  So if you are looking for a home be sure to get on the mortgage bandwagon and lock in that rate.  This trend should be good,  less money going to pay debt and more into the economy.

 Things are still looking good and the Spring market is showing signs of being one of the strongest yet.

Thanks for reading Morris Plains Homes.  Here is the quote. For this week “Paddle faster, I hear banjo music”   Anonymous

Lets Give our leaders in Washington props when they desirve them.  The Tax Credit has proven to be a real measurable success.  Home sales in October where up over 10 %.  It is the single highest increase in 10 years.  6.1 million homes changed hands up from 5.5 in September. The Tax Credit and the fact that homes are now more affordable  have had a very positive impact on the country’s economy.    The news was so good the the Dow Industrial Average jumped 130 points to end the trading session at 10,450.  Do we dare think that the Dow will move over 10,500?  I think so.  What do people do when they buy  a new home?  They fix it up and make it their own and they spend money.  Moving the money moves the economy.

I have certainly expiereced the increase.  People are getting off their butts and are beginning to realize that the house they wanted to buy was sold to someone else.  One client I have worked with has written 3 offers on 3 seperate home.  Hopefully today’s will go through. 

My listing at 9 Cleveland in Morris Plains is a good example as well, I held the 10th Open House last Sunday and I had 9 customers looking at the home of the 9 I now have 4 good clients that are looking for homes.  Their just not waiting anymore.  I have had 3 people very interested in Cleveland after this weekend and  now I have 4.  3 of the people live in Morris Plains and know each other and don’t want to compete with each other in bidding.  What is sad is that these three couples will  lose out on this home while someone else comes in to buy it.   Granted the house needs updating and some work.  You can paint and repair but the one thing you can not change is the location.  How many times have you said, “I wish I could take this house and move it to Cleveland Avenue”.  Well if you could then it would be worth 100,000 dollars more. 

Unfortunately right now there is not a lot of inventory in Morris Plains.  You can count on one finger the number of 5 bedroom 3 bath homes on a big lot and in a great location that are available.

In ending todays blog and in keeping with the coming Holaday Season I will Quote Charles Dickens The Chrstmas Carol

Ghost of the Future,” he exclaimed, “I fear you more than any spectre I have seen. But as I know your purpose is to do me good, and as I hope to live to be another man from what I was, I am prepared to bear you company, and do it with a thankful heart. Will you not speak to me?”

Thanks for Reading Morris Plains Homes

Bob Sittmann