SOMERSET, NJ REAL ESTATE

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Community Description

Somerset New Jersey is a Census Designated Place and unincorporated area located within Franklin Township, in Somerset County, NJ. As of 2010 the population was 22,083, with a population density of 3,490 people per square mile. Somerset borders the Borough of South Bound Brook and the Borough of Millstone to the west, New Brunswick City to the East, Piscataway and the Raritan River to the North, and North and South Brunswick to the south. Somerset NJ is home to the majority of Franklin Township’s School, including both the Middle and High School. Somerset is a commuters dream located right off of interstate 287 and within close proximity to the New Brunswick and Bound Brook train stations. Somerset has several Real Estate options including apartments, townhouses, and single family homes. Real Estate in Somerset varies in price and there are housing choices for every income level.

Somerset is home to several corporations and hotels which are primarily located to the West. Shopping and restaurants are primarily located on Easton Ave. which connects Somerset to New Brunswick and Interstate 287 and South Bound Brook. The downtown area of Franklin Township is located in Somerset on Hamilton Street. Other major streets from East to West include Franklin Blvd, JFK Blvd, Demott Lane, Cedar Grove Lane, Elizabeth Ave, and Weston Canal Rd. Somerset also borders the Route 27 corridor where you can find more shopping and eating options. Veronica Ave and Davidson Rd are two major roads as well, where many industrial and corporate offices can be found. Franklin Township’s main corporate park is located to the west near Davidson Ave and Interstate 287. Major corporations with real estate in Somerset include Metlife,

Somerset at a Glance

Total Area - 6.444 Square Miles

Zip Code - 08873

Post Offices - 2

Population - 22,083

Households - 8,594

Housing Units - 8,883

 

 

Somerset Recent Sales. 

Click Here To get access to all house sales in Somerset and the rest of SOMERSET, NJ. 

Address Property Type Bedrooms Bathrooms Sale Price Sale Date
7 Independence CtSingle Family33.14700003/31/2014
3 Wycombe PlTownhome/ Condo222035003/31/2014
9 SUNFLOWER RD.Single Family42.16200003/31/2014
30 Amberly CtTownhome/ Condo221870003/31/2014
160 Green StSingle Family422335003/31/2014
2301 Ambassador CtTownhome/ Condo322550003/31/2014
11 DENBIGH DRSingle Family42.14450003/31/2014
245 Glastonbury LnTownhome/ Condo32.12610003/31/2014
32 Gunther LoopSingle Family42.15435003/31/2014
70 Van Doren AveSingle Family312700003/28/2014
86 Wycombe PlTownhome/ Condo222110003/28/2014
59 Sunset AveSingle Family313210003/28/2014
185 Driscoll CtTownhome/ Condo22.12550003/28/2014
83 Kossuth StreetSingle Family421715003/28/2014
11 Diamond CtTownhome/ Condo32.12900003/28/2014
48 Crabapple LnTownhome/ Condo221650003/28/2014
205 Haworth PlTownhome/ Condo22.12475003/28/2014
27 Kingsbridge RdSingle Family42.12850003/26/2014
33 Crescent DrSingle Family32.13650003/26/2014
2 JADE COURTTownhome/ Condo32.12829003/26/2014
5 Franklin BlvdSingle Family31.11734003/25/2014
201 Bamburgh CtTownhome/ Condo22.12200003/24/2014
252 W Point AveSingle Family322650003/23/2014
32 Beaconsfield PlTownhome/ Condo11925003/21/2014
51 Sherborne StTownhome/ Condo22.12650003/21/2014

 

 

Somerset Discussion Board

Ask a Question or Request Further Information


Entry By:  Dan
Date:
Thursday, May 09, 2013
Time: 10:51 PM

Somerset NJ Q1 2013 Real Estate Update
Q1 2013 vs Q1 2012 Comparison

Real estate in Somerset, NJ saw volume of home sales remain relativley the same compared to 2012 with 96 home sales (44 townhomes, 52 single family homes). The average sales price of homes decreased by over $22,000 to $265,520 compared to $287,000 in 2012, the median price was $252,500 in 2013 vs $255,000 in 2012. On average, homes are selling for approximately 90% of their listed value, compared to 95% in 2012. Average days on market have increased to 123 from 113.

140 homes went under contract in the 1st quarter of 2013 compared to 114 in 2012. 1st quarter real estate statistics for Somerset New Jersey suggest that the market is at a bottom but appears to be showing signs of a recovery.  


Entry By:  Dan
Date:
Thursday, June 30, 2011
Time: 12:59 AM

Welcome to Somerset, NJ Real Estate. This site is here to provide you with information on current market conditions in Somerset, NJ as well as link to valuable Real Estate resources pertinant to Somerset, NJ. If you are interested in buying, purchasing, or are an existing home buyer in Somerset, NJ, this is a great site for you to gain more information about the local market. I hope you enjoy the site and if you would like access to more recent homesales data or other tools to help you with you real estate goals, Visit REALHouseSales.com where you will find more valuable information to accomplish your real estate goals  


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Somerset Real Estate News

Fri, 18 Apr 2014 16:02:45 +0000

Americans have fallen in love with real estate once again - Fortune (blog)

According to Gallup, Americans think real estate is the best long-term investment. Unfortunately, they're wrong.

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FORTUNE -- As the real estate market recovers, so does America's faith in housing as an investment.

According to a Gallup poll released Thursday, a plurality of Americans now think of real estate as the "best" long-term investment, followed by gold, stocks and mutual funds, savings accounts/CDs, and bonds:

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If one assumes "best" to mean the investment that offers the highest return, then Americans have things backwards. Real estate, on average actually returns very little when adjusted for inflation. Robert Shiller -- the economist famous for helping to create the widely cited Case-Shiller housing index puts it like this:

Home prices look remarkably stable when corrected for inflation. Over the 100 years ending in 1990 -- before the recent housing boom -- real home prices rose only 0.2 percent a year, on average. The smallness of that increase seems best explained by rising productivity in construction, which offset increasing costs of land and labor.

And since 1990, housing has continued to be a middling investment, when you take into account the bursting of the real estate bubble:

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When adjusted for inflation, the average house has appreciated little since 1987. The picture looks a lot different for the other investments Gallup asked about it in its polls. The S&P 500, for instance, has produced an inflation-adjusted annual return of 6.32% since 1929, while investing in government debt would have returned roughly half that figure. Gold, interestingly enough, has performed pretty well on an inflation-adjusted basis, averaging a 4.12% return per year since the end of the Bretton-Woods monetary order in 1971.

If you break down the Gallup data into income groups, the answers are even more revealing. For one, wealthy Americans are more likely to pick stocks as the best investment than any other income group. This makes sense, as investing in the stock market is -- as the above data shows -- the best way to become wealthy.

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Secondly, it appears as if people are likely to say investments they own are the "best." According to the Gallup report:

Upper-income Americans are much more likely to say real estate and stocks are the best investment, possibly because of their experience with these types of investments. Upper-income Americans are most likely to say they own their home, at 87%, followed by middle (66%) and lower-income Americans (36%). Gallup found that homeowners (33%) are slightly more likely than renters (24%) to say real estate is the best choice for long-term investments.

So wealthy Americans are the most likely to understand that stocks provide the best chance for a higher return, but they are also not free of the tendency to think that the thing they are doing (in this case, owning a home) is the intelligent thing to do.

Of course, this analysis takes for granted the idea that "best" necessarily means the investment that is most likely to make you the most money. There are, of course, other reasons why people might decide to invest in real estate. While it theoretically might make sense for an investor to rent his home and plow the money he saves on taxes, mortgage interest, and maintenance into the stock market, such a strategy might not work in the real world. First of all, people have limited time: They're going to spend a lot of energy choosing a good place to live, and might not also have the time to wisely manage securities investments too. Secondly, owning a home is a great way to force yourself to save money, as each mortgage payment is something you have to make, lest you risk losing your home.

Either way, if you decide to put your extra cash into real estate for these reasons, you should be aware that this is the reason you're doing it. As long as you don't expect your home to make you a lot of money on an inflation-adjusted basis, invest away.

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Thu, 17 Apr 2014 20:22:56 +0000

Americans Sold on Real Estate as Best Long-Term Investment - Gallup.com

WASHINGTON, D.C. -- Americans today are more likely to think real estate is the best option for long-term investments than in the past, ranking it ahead of gold and stocks.

Americans Say Real Estate Is the Best Long-Term Investment

These results are from Gallup's April 3-6 Economy and Personal Finances poll that asked Americans to choose the best option for long-term investments: real estate, stocks and mutual funds, gold, savings accounts and CDs, or bonds. Prior to 2011, Gallup asked the same question, but did not include gold as an option.

Gold was the most popular long-term investment among Americans in 2011 -- a time when gold was at its highest market price and real estate and stock values were lower than they are today. Gold prices dropped significantly after that and it lost favor with Americans. The 24% of Americans who currently name gold as the best long-term investment ties with the 24% who choose stocks.

Bonds have been Americans' least favored investment option for as long as Gallup has been asking the question. Savings accounts and CDs, on the other hand, have been more popular in the past. In September 2008, before gold was an option and at a time when the real estate and stock markets were tanking, savings accounts were the most popular long-term investment among Americans.

This year, the housing market has been improving across the U.S., and home prices have recently been rising after a steep drop in 2007 during the subprime mortgage crisis. This current improvement in prices may be why more Americans now consider real estate the best option for long-term investments. In 2002, during the real estate boom that preceded the mortgage crisis and before gold was offered as an option in the question, half of Americans said real estate was the best investment choice.

Stock values have also been improving in recent years, aided particularly by the bull market in 2013. The 24% of Americans who regard stocks as the best long-term investment is also higher now, up from 19% in 2012. Still, Americans are modestly more likely to say real estate is the better investment today, perhaps because of the recent volatility in the stock market.

Lower-Income Americans the Only Subgroup to Favor Gold

Lower-income Americans, those living in households with less than $30,000 in annual income, are the most likely of all income groups to say gold is the best long-term investment choice, at 31%. Upper-income Americans are the least likely to name gold, at 18%.

Perceived Best Investment by Income

Upper-income Americans are much more likely to say real estate and stocks are the best investment, possibly because of their experience with these types of investments. Upper-income Americans are most likely to say they own their home, at 87%, followed by middle (66%) and lower-income Americans (36%). Gallup found that homeowners (33%) are slightly more likely than renters (24%) to say real estate is the best choice for long-term investments.

Stock investors are also more likely to favor stocks as the best long-term investment; 34% of them say that stocks are the best option compared with 13% of Americans who don't own stocks. Upper-income Americans are again the most likely to own stocks (82%), followed by middle-(57%) and lower-income Americans (16%).

Young Americans Place More Faith in Savings Accounts and CDs

Americans between 18 and 29 years old are almost evenly split, with about one-quarter each saying real estate, stocks, gold, and savings accounts are the best choices for long-term investments. However, the 23% who said savings accounts is much higher than the percentage who gave this same answer in older age groups.

Perceived Best Investment by Subgroup

These differences again could reflect actual home ownership and familiarity with the real estate purchasing process. Less than 30% of Americans between 18 and 29 years own their home, compared with 68% of 30- to 49-year-olds, 73% of 50- to 64-year-olds, and 83% of those aged 65 and older. Younger Americans could favor savings accounts because they've largely become financially independent adults during a time of volatile housing and stock markets. This age group's relative preference to savings accounts is in line with findings from 2013.

Implications

With housing prices improving across the country, Americans are regaining faith that real estate is the best choice for long-term investments. But home ownership is also associated with views of real estate as an attractive investment opportunity. This leaves groups with lower home ownership rates, like lower-income and younger Americans, still looking elsewhere for investment options.

Likewise, stock values have been improving and Americans are more likely now than in recent years to say stocks are the best investment, though more still choose real estate. That could be partly attributable to more Americans owning a home than owning stocks, but could also be related to recent volatility in stocks this year, especially during the time the survey was conducted.

Different investment options historically offer different levels of risk and different rewards. Savings accounts and bonds are historically safe, but do not offer as high of returns, and Americans typically don't regard those as the best investments. While stocks can be more volatile, they also can offer huge returns. What Americans view as the best choice for investing reflects myriad factors and is influenced by how the investment is currently performing and respondents' biases toward where they are invested.

Survey Methods

Results for this Gallup poll are based on telephone interviews conducted April 3-6, 2014, with a random sample of 1,026 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.

For results based on the total sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level.

Interviews are conducted with respondents on landline telephones and cellular phones, with interviews conducted in Spanish for respondents who are primarily Spanish-speaking. Each sample of national adults includes a minimum quota of 50% cellphone respondents and 50% landline respondents, with additional minimum quotas by time zone within region. Landline and cellular telephone numbers are selected using random-digit-dial methods. Landline respondents are chosen at random within each household on the basis of which member had the most recent birthday.

Samples are weighted to correct for unequal selection probability, nonresponse, and double coverage of landline and cell users in the two sampling frames. They are also weighted to match the national demographics of gender, age, race, Hispanic ethnicity, education, region, population density, and phone status (cellphone only/landline only/both, and cellphone mostly). Demographic weighting targets are based on the most recent Current Population Survey figures for the aged 18 and older U.S. population. Phone status targets are based on the most recent National Health Interview Survey. Population density targets are based on the most recent U.S. census. All reported margins of sampling error include the computed design effects for weighting.

In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls.

View survey methodology, complete question responses, and trends.

For more details on Gallup's polling methodology, visit www.gallup.com.

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Fri, 18 Apr 2014 17:56:03 +0000

Real Estate Roundup: Retail deals for April 18 - Portland Business Journal (blog)
Real Estate Roundup carousel

Portland's most recent commercial real estate deals.

Staff Reporter- Portland Business Journal

Here are the most recent retail transactions submitted to The Business Journal's Real Estate Roundup database.

Submit transactions here.

  • Khaosan Thai Restaurant leased 3,058 square feet at the 14th & Flanders Building, 1435 N.W. Flanders St., Portland. Todd Amacher of Elliott & Associates represented the tenant; George N. Diamond, Michael Diamond and Nicholas Diamond of Real Estate Investment Group represented the property.
  • Boardwalk Fresh Burgers & Fries leased 2,200 square feet at the Goodwill Center, 9990 S.E. 82nd Ave., Portland, from Goodwill Industries of the Columbia-Willamette. Jack Gallagher of NAI Norris, Beggs & Simspon represented the tenant; Dan Bozich of Urban Works Real Estate represented the property.
  • Hero Sushi & Sake leased 1,898 square feet at Kruse Village Shopping Center, Lake Oswego. Michelle Rozakis of Real Estate Investment Group represented the tenant; Nick Stanton of CRA Northwest represented the property.
  • Phone Stop, a phone repair business, leased 1,188 square feet at Orchards Center, 10411 N.E. Fourth Plain Boulevard, Vancouver, from Orchards Center LLC. Brooke Burgner and Pam Lindloff of NAI Norris, Beggs & Simpson represented the property.
  • LunchBox Wax, a beauty services business, leased 1,129 square feet at Kruse Village Shopping Center, Lake Oswego. Michelle Rozakis of Real Estate Investment Group represented the tenant; Nick Stanton of CRA Real Estate represented the property.

Wendy Culverwell covers real estate, retail and hospitality.

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Thu, 17 Apr 2014 13:29:59 +0000

Youth Leadership Somerset applications due May 15 - NJ.com

Applications are being accepted for Youth Leadership Somerset, a program for young Somerset County leaders who are interested in taking an active leadership role in their community. The deadline is Thursday, May 15.

“Youth Leadership Somerset introduces students to local government and the wide-ranging services and programs that are available to county residents,” said Freeholder Patricia Walsh, liaison to the youth leadership program. “We encourage participants to hone their leadership skills by developing and implementing projects that benefit the community.”

Former participants of Youth Leadership Somerset have said: “Thanks for all that you do. I have truly had a great experience and learned so much through this amazing program! Thanks for all your hard work.” and “I wish to thank you for the experience that I have gained from the program. It’s an amazing program and I wish you a lot of success going forward.”

To be eligible for the nine-month program, students must be in grades eight through 12 and live in Somerset County. The application can be obtained by clicking the link below or visiting leadershipsomerset.org/youth_leadership_somerset.htm.

Using the space allotted in the PDF file, complete the application form and send it via email to tchir@co.somerset.nj.us. A signed version of the application and one reference letter should be mailed to: Youth Leadership Somerset, Melania Tchir, Somerset County, P.O. Box 3000, Somerville, NJ 08876-1262. The application should be postmarked no later than May 15.

The class year runs September through May. Sessions are held one Saturday each month for approximately four to six hours. Class members will meet community leaders from all aspects of county life, who will speak on a wide variety of topics. A different topic is introduced at each session, including leadership, diversity, the environment, government, human services, the economy, health care and justice.

Candidates will be selected in June. Those accepted to the program will receive a full scholarship to ensure that financial status is not a barrier.

Developed by the Leadership Somerset Class of 2000, partners of the Youth Leadership Somerset program include the Somerset County Board of Chosen Freeholders, Somerset County Business Partnership, Raritan Valley Community College and the United Way of Northern New Jersey.

For more information or to apply for the program, contact Melania Tchir at 732-469-3363 or tchir@co.somerset.nj.us.

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Fri, 04 Apr 2014 21:15:06 +0000

27 busted in multi-county drug, weapon sting - NJ.com

SOMERVILLE — Twenty-seven people were arrested after a five-month investigation into drug, weapon and warrant offenses related to heroin distribution in and around Franklin Township and New Brunswick, authorities said.

William King, 29, Karream Sanders, 40, and Shakime Saunders, 32 conspired to distribute heroin to multiple people throughout Somerset, Middlesex, Monmouth, Mercer and Burlington counties, according to a statement from Somerset County Prosecutor Geoffrey D. Soriano and Somerset County Chief of Detectives Timothy Fitzgerald.

The investigation commenced in November 2013 when detectives from the Somerset County Prosecutor's Office Organized Crime and Narcotics Task Force obtained information that King was distributing heroin supplied by Sanders, who acquired the narcotics from Saunders, the report said.

Sanders, Karream.jpgKarream Sanders. 
King was living at the residence of a Latoya Jackson, who also participated in the drug distribution, the statement said.

At the time King and Jackson were apprehended, Jackson was driving a motor vehicle with her two minor children present, the statement said.

King was also distributing drugs from the home and with assistance of Jessica Belton, the statement said.

The investigation concluded on Wednesday when task force detectives arrested King, Sanders, Saunders and Jackson, the statement said.

Superior Court search warrants were executed at King's, Sanders', Saunders', Jackson's and Belton's homes and residences, leading to the seizure of a Smith and Wesson 45-caliber handgun, which was defaced, and a 40-caliber STI handgun, which had been reported stolen, the statement said.

Saunders, Shakime.jpgShakime Saunders. 
In addition to the handguns, a large quantity of heroin with an estimated street value of $3,000, plus marijuana, drug paraphernalia and drug packaging materials were seized, the statement said.

King was charged with conspiracy to distribute heroin, possession of heroin with intent to distribute, possession of a firearm while committing a CDS offense, certain persons not to possess firearms, possession of a defaced firearm and endangering the welfare of a child, the statement said.

Sanders was charged with conspiracy to distribute heroin, possession of a firearm while committing a CDS offense and certain persons not to possess firearms, the statement said.

Saunders was charged with conspiracy to distribute heroin, the statement said.

Jackson was charged with conspiracy to distribute, possession of heroin with intent to distribute, possession of a firearm while committing a CDS offense, certain persons not to possess firearms, possession of a defaced firearm and endangering the welfare of a child, the statement said.

On Friday, 24 additional individuals were arrested across the state, the statement said.

Jessica Belton, Dennis Jenkins, Damon Pappas, Mario Dacosta, Nicolo Rossi, Angelique Powell, Luke Tillman, Martin Dixon Jr., Justin Horbelt, Rashon Steel and Lauren DiBattista were each charged with conspiracy to distribute CDS, the statement said.

Phillip Ray Crone, Hamza Namoya, Laura Klobusicky, Naim Griffin, Matheus Pontes, Paul Fortenberry, Barry Thompson, Bryan Arline, Shon Callahan Jr., Diane Elefante and Todd Richardson were each charged with attempt to possess CDS or conspiracy to possess CDS for buying heroin from King, Sanders, or Saunders, the statement said.

Eric Eskesem was arrested for an outstanding warrant out of Somerset County, the statement said.

The Somerset County Prosecutor's Office was assisted by detectives from the Middlesex County Prosecutor's Office, Franklin Township Police Department, City of New Brunswick Police Department, City of Linden Police Department, South Brunswick Township Police Department, Piscataway Township Police Department, the Somerset County Sheriff's Office K-9 Unit and Bureau of Criminal Identification, the statement said.

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Wed, 09 Apr 2014 20:58:53 +0000

Christie to hold town hall in Somerset next Tuesday - NJ.com

TRENTON — Gov. Chris Christie will continue his recent string of town halls Tuesday in Somerset County.

The Republican governor is scheduled to speak about his new $34.4 billion state budget proposal at 11 a.m. at the Somerset National Guard Armory in the Somerset section of Franklin Township.

It will be Christie's 119th town hall meeting. He has held 10 over the last two months, including one today in Fairfield.

Residents can RSVP to TownHall.Franklin@gov.state.nj.us. Doors open at 9:30 a.m. and seating is on a first-come, first-serve basis and open to the public.


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