There is a 3br just came out as you can see ... http://msx.mlxchange.com/Pub/EmailView.asp?r=1875826906&s=MS…

Mon May 19 2008, 15:51

For 3br townhouse, Village Pointe seemed to be sold out as you can see ... http://msx.mlxchange.com/Pub/EmailView.asp?r=361611992&s=MSX&t=MSX

Any Trulia Realtor can run an updated CMA Grid for you if they are willing to.

Thu May 8 2008, 08:11

For Village Pointe, you can take a look at this Village Pointe Community Blog@ http://villagepointeatedison.blogspot.com/ to get an idea; although the records may not be complete, there may be more sales not known, but it gives you pretty good idea.

Thu May 8 2008, 08:00

My question is How much the Townhomes are appreciated in last few years in Edison area? For Example Village Pointe 3 BR.How much it is appreciated in last few years?

Thu May 8 2008, 06:58

I was just invited to PNC Bank Meet and Greet yesterday, nice food and drink, and met lots of important Chamber and Commerce people. What excited me is that I uncover a CPA living at Edison Manor, so I told him to sell the townhouse and move up to nice new home at Piscataway right next to JFK Library because Edison Manor is now SOLD OUT, and dozens other condo owners at Edison Hollow South is in line waiting to move up to his townhouse that can walk to Edison Train Station.

So, I introduced him to the mortgage guy of PNC to see if he can get great mortgage rate of VIP in the business mixer. Then, another lady working at Investor Bank also looking to buy a home. I think many were so excited to want to move forward to buy a home in the area.

This coincide with the news I saw that all but Northeast had real estate sale dropped last month. What a surprise! North East jump 12.5% in real estate sale.

So, it seems our Trulia Realtors will soon change their bashing mode into more positive mode on the local real estate market. If you are a buyer, you know your dragging to buy will only make your buyers peer happier to get a good buy, and who knows, two years later when you want to buy, they will sell the same condo/townhouse to you at 20% like Centerplace at Edison, and move on to buy bigger home.

If you are a seller, always keep in mind, interview 3 to 5 licensed realtors and pick the highest estimate, and always remember to ask the question to the realtor who tries to cut your price. "If the community is sold out or almost sold out, why would you want to bash down the selling price?" When a community is sold out or almost sold, that is the sign of market turning, meaning there are great demand and the price may go up.

Thu May 8 2008, 06:40

Aparently, you did not mention Edison Hollow South http://raspberryct.blogspot.com/ because you know it is SOLD OUT! The only ONE in Edison Manor has been taken, and so, now it is SOLD OUT again. You are challenged to bring up another listing!!! As to Starpoint, there are 3 more units sold, give Melisa a call who used to live at Starpoint and moved to Old Bridge, she would get all your listing sold to hundreds of prospective buyers renting at Edison Village/Blueberrry Village, Rivendell ... which are now rented out. Besides, if you need to realize that Starpoint has over 700 units total, and any give time, if you have 3 listing, it is to be sold out in a week or two.

For Edison Glen, several more just sold. 1108 EDISON GLEN Ter 2br 2ba condo, 1801 EDISON GLEN Ter 3br 2hba townhouse and several others will be soon; you won't know unless you call listing agent.

75 REDBUD RD at University Heights Piscataway just sold. Several other units in Traditions are getting offers by tenants at Durham Woods that is rented out to avoid rent hike and possibly attack (refer to apartment rating...)

All condo/townhouses in the area are almost sold out, when a community sold out, of course, your hard working realtors would send out hundreds of postcards to tell the community they have buyers want to buy their condo/townhouse and get them listed, so you can always find some move up buyers listing their condo/townhouse and move up to buy bigger home ...

Take a look at this Edison Manor Map http://edisonmanor.com/EdisonManorMap.JPG so many units in the community, and it is SOLD OUT, and many prospective buyers living at Edison Hollow South, also sold out. So, it seems all Edison realtors should work harder to uncover listing at Edison Manor and Edison Hollow South ...

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One more thing...as of this post (8:30 PM on May 1) there are:
8 townhomes currently listed in Village Pointe
1 in Edison Manor
3 in Starpoint
7 in Edison Glen
1 in University Heights
6 in Traditions
...again hardly a sold out condition

Tue May 6 2008, 19:40

Zack,
Heck I drive an SUV I might even sell my home for a years worth of gas....well maybe not... but I did get a chuckle out of that comment thanks :)

Fri May 2 2008, 05:32

Mary, they'd be sold out if the buyers would offer to pay them in gallons of gas.

Thu May 1 2008, 17:44

One more thing...as of this post (8:30 PM on May 1) there are:
8 townhomes currently listed in Village Pointe
1 in Edison Manor
3 in Starpoint
7 in Edison Glen
1 in University Heights
6 in Traditions
...again hardly a sold out condition.

Thu May 1 2008, 17:33

Oh my... once again, no development or neighborhood is ever "sold" out" unless it is brand new. Homes go on the market and get sold in every neighborhood all the time, and there is never a sold out situation. Edison has 336 residential single family homes for sale and 98 condo/townhomes for sale as of this post and that does not include FSBO's. Hardly a "sold out" condition. Sales volume is down for the first quarter of 2008 because of several things. 1) Qualified buyers are harder to come by because mortgage companies are not giving money away anymore. 2) buyers in this area are still believing what they hear or read in the media about the "bottom not being here yet" and waiting for a "bargain" (the media by the way always refers to national averages, but does not mention specific areas as I did in my previous post which proves otherwise at least for condos). 3) the peak sales time of any market in any year is just beginning, (early spring to mid summer) . Homes prices ARE down since the boom of 2005-mid 2007, but not nearly as bad in Edison as in other places. Please Dr. Cheng, while we all appreciate your diligence in researching real estate, some of your comments are not correct and could wrongly inform people. I again suggest to anyone who is asking a question to ask a professional in the specific area who does this for a living on a daily basis.

Thu May 1 2008, 17:28

Very good data, except that sales volume was down because many townhouse community are SOLD OUT or close to sold out in Greater Edison area. e.g.

Edison Hollow South http://raspberryct.blogspot.com/ sold out
Edison Manor sold out
Starpoint at Piscataway almost sold out
University Height at Piscataway was sold out
The Traditions at South Plainfield almost sold out
Village Point was almost sold out http://msx.mlxchange.com/Pub/EmailView.asp?r=361611992&s=MSX&t=MSX
... etc.

There are hundreds of thousands of IT professionals working at Wall St in the area and they making well over 6 digits with top credits that many banks are eager to offer them mortgage. Need some proof? Go visit the brand new opening Chase bank at Stelton Rd right next to Middlesex Mall http://middlesexmall.blogspot.com/ Visit the brand new PNC Bank (Hey! come to 5-7-08 party http://robertatpiscataway.blogspot.com/ ) and many other new banks coming to the area ...

Thu May 1 2008, 15:28

According to the latest MLS statistics here is what I found:

Comparing March 2007 to March 2008 Condo sales
Area 50 - Edison Twp:
Avg. sale price in 2007 $289,672
Avg. sale price 2008 $ 316,577
% Change: +9.3%

Comparing year to date: January 1 thru March 31... 2007 vs 2008 (first quarter)
Area 50 - Edison Twp:
Avg. sale price in 2007 $291,443
Avg. sale price in 2008 $301,180
% Change + 3.3%

Sales volume of units was down (banks aren't just giving away mortgages so qualified buyers are scarcer) by a little over 56% for both statistics but the sale prices speak for themselves.

Wed Apr 30 2008, 08:10

As far as I know, the townhouses in Greater Edison Area have been stable for past 2 to 3 years. Some units are hot can walk to NYC train moved up some, and others many have more or less depending on the season. New townhouse like Centerplace at Edison moved up more.

Sat Apr 26 2008, 09:30