CirclingVulture's Q&A

RE: 10 Woodcrest Ave, Short Hills, NJ 07078   After 132 Days on Market, this property just sold for $585,000 (34%) below asking.   The property was listed 2 separate times under 2 different MLS numbers.   Below is the listing history for this property:   Nov 11, 2008 - $1,750,000 - MLS # 2601821   Jan 26, 2009 - WITHDRAWN   Apr 08, 2009 - $1,495,000 - MLS # 2601821   Apr 20, 2009 - $1,295,000   May 20, 2009 - Attorney Review   Jun 01, 2009 - Under Contract   Jul 30, 2009 - Closed at $1,165,000   Posted: August 9, 2009   http://www.circlingvulture.com   

RE: 63 Tennyson Dr, Short Hills, NJ 07078   After 174 Days on Market, this property just sold for $970,000 which is $430,000 (31%) below asking.   Property details:    * 3,643 square feet    * 4 bedrooms    * 4 full bathrooms, 1 half bath    * .48 acres    * 2 car garage    * Bluestone patio surrounding built-in pool    * Forced air heating (natural gas)    * Dual zone central air conditioning    * Hartshorn schools    * 2007 township assessment: $1,377,200   The property was listed 2 separate times under 2 different MLS numbers.   Below is the listing history for this property:   Mar 26, 2008 - $1,400,000 - MLS # 2501841   Apr 23, 2008 - $1,295,000   May 21, 2008 - $1,195,000   Jul 05, 2008 - Attorney Review   Jul 07, 2008 - Under Contract   Aug 08, 2008 - WITHDRAWN   Mar 11, 2009 - $1,095,000 - MLS # 2661677   May 05, 2009 - Attorney Review   May 19, 2009 - Under Contract   Aug 07, 2009 - Closed at $970,000   Posted: August 8, 2009   http://www.circlingvulture.com   

RE: 11 Timber Acres Rd, Short Hills, NJ 07078   On the market since 2006, and listed 8 separate times under 7 different MLS numbers and FSBO.   The property just sold at $928,000 which is $867,000 (48%) below asking.   Below is the listing history for this property:   Dec 11, 2006 - $1,795,000 - For Sale By Owner   Jan 22, 2007 - $1,595,000 - MLS # 2366996   May 01, 2007 - WITHDRAWN   May 03, 2007 - $1,495,000 - MLS # 2402465   May 24, 2007 - WITHDRAWN   Mar 13, 2008 - $1,495,000 - MLS # 2497602   May 07, 2008 - $1,349,000   Jun 10, 2008 - WITHDRAWN   Jul 11, 2008 - $1,399,000 - MLS # 2547569   Sep 23, 2008 - $1,295,000   Oct 09, 2008 - WITHDRAWN   Oct 23, 2008 - $1,295,000 - MLS # 2593859   Nov 30, 2008 - WITHDRAWN   Dec 03, 2008 - $1,295,000 - MLS # 2612571   Dec 22, 2008 - WITHDRAWN   Feb 16, 2009 - $1,095,000 - MLS # 2649054   Apr 14, 2009 - $999,000   Apr 24, 2009 - $1,000,000   May 15, 2009 - Attorney Review   May 21, 2009 - Under Contract   Jul 31, 2009 - Closed at $928,000   Posted: August 3, 2009   http://www.circlingvulture.com   

RE: 55 Minnisink Rd, Short Hills, NJ 07078   After 217 Days on Market, this property just sold for $999,999 which is $495,000 (33%) below asking.   The property was listed 2 separate times under 2 different MLS numbers.   Below is the listing history for this property:   Nov 19, 2008 - $1,495,000 - MLS # 2606346   Dec 18, 2008 - $1,395,000   Jan 26, 2009 - $1,345,000   Mar 04, 2009 - $1,295,000   Apr 19, 2009 - $1,250,000   May 20, 2009 - WITHDRAWN   May 21, 2009 - $1,150,000 - MLS # 2685057   Jun 20, 2009 - Attorney Review   Jun 24, 2009 - Under Contract   Jul 31, 2009 - Closed at $999,999   Posted: August 3, 2009   http://www.circlingvulture.com   

RE: 55 Lake Rd, Short Hills, NJ 07078   After 350 Days on Market, this property just sold for $800,000 (45%) below asking.   The property was listed 2 separate times under 2 different MLS numbers.   Property details:   * 5,300 square feet   * 6 bedrooms   * 4 full bathrooms, 1 half bath   * Foyer, Dining Room, Living Room, Family Room, Great Room, Office   * Eat-in Kitchen, Pantry, Laundry Room, Sunroom, Walk-in Closets   * Number of "million dollar" Glenwood houses that can fit inside: 3   * .3960 acres   * 3 car garage   * Underground lawn sprinklers   * Hartshorn schools   * Fantastic street and location   * Steps to the ponds   * Steps to tennis and pools at Short Hills Club   * 2007 township assessment: $1,948,300   Below is the listing history for this property:   May 14, 2008 - $1,800,000 - MLS # 2517833   Sep 11, 2008 - $1,575,000   Oct 09, 2008 - $1,496,000   Nov 14, 2008 - WITHDRAWN   Nov 14, 2008 - $1,496,000 - MLS # 2603182   Jan 07, 2009 - $1,295,000   Feb 19, 2009 - Attorney Review   Feb 22, 2009 - Active   Mar 12, 2009 - $1,274,000   Apr 25, 2009 - Attorney Review   Apr 28, 2009 - Under Contract   Jul 27, 2009 - Closed at $999,999   Posted: July 29, 2009   http://www.circlingvulture.com   

The first listing was marked "expired" (a distinction without a difference vs "withdrawn") while in attorney review, with Days On Market at 85 days (actually 86/87 days).  It's hard to believe consumers are signing up for an 85-day listing.By creating a second new listing under a new MLS number, the Days on Market were reset from 85 days to 0 days, which distorts market conditions reported to consumers.  If this property goes under contract in a day or two, it will be reported to consumers that the property was only on the market for 3 days, which is false.http://www.circlingvulture.com

Now relisted under a new MLS number (2701341) with an asking price of $1,195,000.By creating a new listing, Days on Market have been reset from 87 days to 0 days.http://www.circlingvulture.com

RE: 44 W Beechcroft Rd, Short Hills, NJ 07078   Public records indicate the foreclosure process for this property began on June 16, 2009.   http://www.circlingvulture.com   

RE: 92 Lawrence Dr, Short Hills, NJ 07078   This property is no longer in Attorney Review and has been on the market for 87 days.   Below is the listing history for this property:   Apr 29, 2009 - $1,295,000 - MLS # 2678131   Jul 03, 2009 - $1,195,000   Jul 18, 2009 - Attorney Review   Jul 24, 2009 - WITHDRAWN   Posted: July 24, 2009   http://www.circlingvulture.com   

RE: 183 Parsonage Hill Rd, Short Hills, NJ 07078   This property has been on the market for 420 days.   The price has been reduced by $1,172,500 which is a 49% reduction.   Below is the listing history for this property:   Jul 30, 2006 - $2,400,000 - MLS # 2304906   Aug 01, 2007 - WITHDRAWN   Jul 02, 2009 - $1,227,500 - MLS # 2695888   Posted: July 23, 2009   http://www.circlingvulture.com