CirclingVulture's Q&A

RE: 54 Merrywood Ln, Short Hills, NJ 07078   After 298 Days on Market, this property just sold for $670,000 below asking, which is a 34% discount. Below is the listing history for this property: Jun 20, 2008 - $1,995,000 - MLS # 2538494 Sep 03, 2008 - $1,895,000 Oct 28, 2008 - $1,675,000 Dec 15, 2008 - WITHDRAWN Dec 15, 2008 - $1,595,000 - MLS # 2617086 Jan 28, 2009 - $1,495,000 Mar 20, 2009 - $1,395,000 Apr 07, 2009 - Attorney Review Apr 11, 2009 - Under Contract Apr 30, 2009 - Closed at $1,325,000   Posted: May 10, 2009   http://www.circlingvulture.com

RE: 158 Mohawk Rd, Short Hills, NJ 07078   Public records indicate the foreclosure process for this property began on May 1, 2009.   http://www.circlingvulture.com

RE: 1 N Brook Dr, Short Hills, NJ 07078   Two price drops since January 2008 totaling $374,000 which is a 34% price reduction.Property Pros- Gleaming hardwood floors.- School system.Property Cons- Dated interior needs renovation.- Property adjoins busy South Orange Ave, ruling out most buyers with children.- Remaining childless buyers need a high tolerance for road noise and vibrations generated from South Orange Ave traffic.- Half the yard is paved with asphalt since the driveway and garage are located behind the building.- Limited potential buyer pool (see above) will make resale difficult.Below is the listing history for this property:Jan 17, 2008 - $1,099,000 - MLS # 2477141Mar 01, 2008 - $999,000Mar 29, 2008 - WITHDRAWNApr 24, 2009 - $725,000 - MLS # 2676873Posted: April 25, 2009http://www.circlingvulture.com

RE: 7 Farmstead Rd, Short Hills, NJ 07078   Public records indicate the foreclosure process for this property began on April 7, 2009.Township assessment from 2007 put the property at $3,543,400.Land is 2 acres.House is 10,542 square feet.Annual property taxes are $59,139.http://www.circlingvulture.com

RE: 474 Long Hill Dr, Short Hills, NJ 07078   Public records indicate the foreclosure process for this property began on January 30, 2009.The property was "bought" in April 2006 for $1,250,000.http://www.circlingvulture.com

RE: 10 E Beechcroft Rd, Short Hills, NJ 07078  This property is no longer "under contract" (for the 4th time) and has been on the market for 340 days.The property has been listed 2 separate times under 2 different MLS numbers.Two price drops since May 2008 totaling $250,000.Below is the listing history for this property:May 21, 2008 - $2,000,000 - MLS # 2520142Jul 01, 2008 - $1,895,000Aug 31, 2008 - WITHDRAWNSep 29, 2008 - $1,750,000 - MLS # 2584472Oct 15, 2008 - Under ContractOct 16, 2008 - ActiveOct 17, 2008 - Under ContractNov 14, 2008 - ActiveDec 09, 2008 - Under ContractJan 08, 2009 - ActiveApr 14, 2009 - Attorney ReviewApr 17, 2009 - Under ContractApr 23, 2009 - ActivePosted: April 23, 2009http://www.circlingvulture.com

RE: 33 Twin Oak Rd, Short Hills, NJ 07078   Recently sold below March 2000 sale from 9 years ago.  Nine years of bubble "equity" evaporated.  Spent 377 Days On Market, and sold $1,095,000 (46%) below asking.Last three sales of this property:    * Mar 23, 2000: $1,308,000    * May 27, 2005: $1,625,000    * Apr 01, 2009: $1,300,000Below is the listing history for this property:Jan 23, 2008 - $2,395,000 - MLS # 2479522Feb 21, 2008 - $2,295,000Mar 11, 2008 - $2,195,000Mar 20, 2008 - $1,999,000Apr 03, 2008 - $1,995,000Apr 12, 2008 - $1,994,000Apr 13, 2008 - $1,899,000Apr 14, 2008 - WITHDRAWNApr 15, 2008 - $1,899,000 - MLS # 2507979May 01, 2008 - $1,878,888Jul 09, 2008 - $1,850,000Aug 06, 2008 - WITHDRAWNOct 02, 2008 - $1,800,000 - MLS # 2585669Jan 02, 2009 - WITHDRAWNJan 06, 2009 - $1,695,000 - MLS # 2625008Jan 22, 2009 - $1,595,000Mar 11, 2009 - $1,495,000Mar 16, 2009 - Attorney ReviewMar 27, 2009 - Under ContractApr 01, 2009 - Closed at $1,300,000 Posted: April 15, 2009http://www.circlingvulture.com

RE: 76 Whitney Rd, Short Hills, NJ 07078   This property is no longer "under contract" and has been on the market for 24 days.Purchased in March 1998 for $427,550 the property was recently listed for sale at nearly triple the price.From the rear one can see a hodgepodge of visually-jarring additions tacked onto the building; perhaps the fruits of a homeowner project.  Lot size is a diminutive 0.2 acres.  The garage holds just 1 vehicle.  The clickety-clack of NJ Transit commuter trains are a mere 3 houses away.  Listed for sale at nearly triple the 1998 purchase price.Below is the listing history for this property:Mar 11, 2009 - $1,095,000 - MLS # 2661936Mar 27, 2009 - Under ContractApr 03, 2009 - ActivePosted: April 3, 2009http://www.circlingvulture.com

RE: 50 Hilltop Rd, Short Hills, NJ 07078   After 815 Days on Market, this property just sold for $1,002,500 below asking, which is a 29% discount.Remember: always offer full asking price so as not to "insult" the seller.Below is the listing history for this property:Nov 01, 2006 - $3,495,000 - MLS # 2336637Apr 28, 2008 - WITHDRAWNMay 06, 2008 - $3,495,000 - MLS # 2515129May 24, 2008 - $3,399,000Aug 06, 2008 - $3,299,000Oct 03, 2008 - $3,150,000Dec 05, 2008 - $2,999,000Dec 28, 2008 - $2,750,000Jan 30, 2009 - Under ContractMar 24, 2009 - Closed at $2,492,500Posted: March 26, 2009 http://www.circlingvulture.com

RE: 54 Merrywood Ln, Short Hills, NJ 07078   Now on the market for 280 days, and listed 2 separate times under 2 different MLS numbers.Five price drops since June 2008 totaling $600,000 which is a 30% reduction.Below is the listing history for this property:Jun 20, 2008 - $1,995,000 - MLS # 2538494Sep 03, 2008 - $1,895,000Oct 28, 2008 - $1,675,000Dec 15, 2008 - WITHDRAWNDec 15, 2008 - $1,595,000 - MLS # 2617086Jan 28, 2009 - $1,495,000Mar 20, 2009 - $1,395,000Posted: March 25, 2009http://www.circlingvulture.com