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Welcome to December's Market Update, the second installment of my evolving monthly newsletter, proving current and helpful information on the Maplewood/South Orange (and immediate environs) real estate markets.  As always, I'd love to hear from you with any feedback and suggestions.  So thanks for reading, and looking forward to satisfying your real estate needs!  Most important, I wish each and all of you and your loved ones the happiest, healthiest and most prosperous holiday season and New Year ever!

December 2013 Market Update

Maplewood's November home prices were on average lower than October.  South Orange dropped 2%, Montclair increased by 4% (mostly due to a significant dip in inventory) and Millburn/Short Hills remained unchanged.  Certainly some of the slowness can continue to be attributed to the government shutdown, yet compared to the 3.2% month over month decrease in prices nationally, our towns relative performance remains on par to a bit stronger.  See recent sales in your area.

This Month in Real Estate (US) December 2013
This Month in Real Estate (US) December 2013

In Your Backyard 

Local News 
*  12/14 at 9:30AM - Breakfast with Santa at VillageTrattoria in Maplewood,  2 Free holiday concerts at Burgdorff's Center for the Performing Arts. 1 and 4PM, and other Holiday activities.
*12/21 2-3PM  More Holiday events, including Dickens Village Craft and Storytime: Snow People
*12/26 4-5:30PM The Hilton Branch Library is viewing The Polar Express film. 
*If you're looking for something to do for New Years's Eve/Day in NJ, check out this site.
This is a beautiful rendition of the song and beautifully summarizes what the Holiday season is all about. 

I wish you all a beautiful season of giving and a most hopeful beginning to the new year!
[Official Video] Little Drummer Boy - Pentatonix
[Official Video] Little Drummer Boy - Pentatonix

Barbara's Quick Tips
Insider Tips for Buying and Selling
Notwithstanding lower prices traditonally associated with the onslaught of the winter months, Sellers in Maplewood/South Orange and our surrounding towns will to the contrary continue to benefit from higher home prices in December as inventory continues to decline.  With fewer houses to compete against, listing your home now could fetch top dollar.  Buyers should likewise consider if now might also be an ideal time to pull the trigger, as mortgage rates continue to trend upwards with home ownership likely be increasingly costly for the forseeable time. For a free no obligation market analysis of your home, please give me a call.   

Interest Rates

Interest rates have once again turned upward after correcting for a speculative bump generated by uncertainty surrounding the Federal Reserve's intentions on curtailing unconventional monetary policy. Consumers should note that rates may spike again leading up to Federal Open Market Committee meetings in December, but will likely continue a slow upward trend in the long run. Currently, Freddie Mac reports the following, figures: 

30-year fixed
15-year fixed
5/1 ARM
Historical Average
December 11, 2013
In This Issue

Top Values Now! 

Maplewood/South Orange
Here's my top 5 choices this week for homes in the area.   All these homes offer one or more of the following:
 *quality renovation
* investor flip potential
* location/price combination   Check them out!    P.S. If you don't see all 5 homes here, it means they've sold that quickly!
You Tube

circle Marks The Spot!

Barbara Lawrence
Keller Williams Midtown Direct Realty
Cell:  973-885-7745   |   Office: 973-913-8025 
barbara@maplewood-realestate.com   |   www.maplewood-realestate.com
181 Maplewood Avenue, Maplewood, NJ 07040

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