MEYERHOFFS REALIZE TRUE MARKET VALUE AT CANAL WALK ACTIVE ADULT COMMUNITY IN SOMERSET COUNTY

SOMERSET, NJ –Jerry and Marion Meyerhoff were quick to realize current market conditions have created unique advantages for today’s homebuyers. The North Edison couple — who had a home to sell, but still wanted to benefit from the competitive pricing and value being offered at many new home active adult communities – knew now was still the time to buy if they wanted to get the most home for their money.

“Everything is relative,” says Mr. Meyerhoff, a public account. “If you decide to sell at a lesser price in a down market, you’ll also have to realize you’ll be purchasing your new home at a reduced price so it equals out.

“We put our former split-level home in North Edison on the market one-year later with the expectation we’d get less money for it. We realized if we could get $550,000 for our home at the height of the market, if we purchased a brand new home in today’s buyers market at a much lesser price, even if we got just $450,000 for our home, we’d still have more than enough money to make the switch to a residence that better suited our lifestyle needs at Canal Walk. Any more would be a gift. We ended up extremely fortunate with our decision.”

For the many homebuyers like the Meyerhoffs looking to take advantage of the current market conditions and purchase a brand new home at competitive pricing, Canal Walk — the active adult community being developed by Premier Development along the historic Raritan-Delaware Canal in Somerset County’s Franklin Township – has been the perfect match. The suburban neighborhood rolled out a new pricing structure last year that adds considerable value and great savings to new home purchases.

The Meyerhoffs, who had lived in a single-family home in North Edison for 38 years, had been visiting friends at Canal Walk for the more than two years, each time stopping in the sales office to receive an update on the community’s status. The couple knew they wanted to eliminate the daily hassle of climbing stairs and begin enjoying the advantages of one-level living, but were having difficulties finding a home that fit their needs.

“We were looking for a single-family home with a basement,” Mr. Meyerhoff recalls. “We visited almost every active adult community in the state, but most either didn’t offer them or provided walk-out basements with plenty of steps, something we were trying to eliminate.

“We always found ourselves coming back to Canal Walk and speaking with the sales representatives who were the nicest, most patient and helpful we’d encountered in our new home search. Having been familiar with the neighborhood already and comfortable with the friendly sales staff, when Canal Walk introduced its ranch models with ground level basements in the Reserve neighborhood, we unquestionably knew we found our new home.”

The Meyerhoffs quickly acted quickly and purchased their home despite a pending economic recession. And while it was a nervous decision, the couple moved into their new home in the Reserve at Canal Walk in late September and are already incredibly pleased with their choice.

“In the beginning, I didn’t want to move from North Edison and was a little nervous, but now I’m glad I did,” Mr. Meyerhoff says. “I’m not an expert on construction so I brought in my own home inspector. His first thought when he walked into the basement was ‘this home has been built very well.’ It was very comforting to hear how impressed he was and knowing we purchased a residence that was in great shape.”

Sales velocity has reached an unparalleled level at Canal Walk with interested prospects lured by competitive pricing, upscale homes, five-star on-site amenities and spectacular location in Somerset County’s Franklin Township, which was the highest ranked New Jersey town in Money Magazine’s recently published “Best Places to Live” and one of the best municipalities in which to live in the country.

Canal Walk’s different housing designs and layouts offer something for everyone. For example, buyers who want more space for guests and storage are attracted to the two-story single-family homes, while those who want the ease and convenience of condominium living are choosing The Enclave. Active adults who want the best of both embrace the single-level ranch designs.

The impressive homes at Canal Walk are enhanced by its resort-inspired, country club lifestyle that is unrivaled by any comparable active adult community in central New Jersey. Highlighting the well-rounded, activity-rich environment is a private 32,000 square-foot clubhouse — the Premier Club at Canal Walk — which is one of the largest and most amenity-rich in the state. Featured inside are a heated pool and whirlpool, a spa with steam room, sauna and a fully-equipped fitness room. There’s also a library, crafts room, billiards room and separate men’s and women’s card rooms. In addition, a business center, banquet hall and lounges are available. Tennis, bocce courts and a putting green are adjacent to the oversized outdoor pool and spa. Additional services include a beauty salon and a massage and wellness center.

Canal Walk’s convenient location enables residents to receive the lifestyle they desire, while remaining close to family, and world class malls and major supermarket shopping just minutes away. The community is a short trip from Route 287, offering easy access to major highways such as the Garden State Parkway and New Jersey Turnpike which allows children and grandchildren to visit within minutes.

Demand at Canal Walk has been so strong, additional homesites at the community have been released for sale. In the Enclave, heightened buyer activity has resulted in the current sell-out of the community’s best-selling Andover, Bayberry and Cambridge designs in two condominium buildings, allowing the developer to open a third building offering these plans for sale. The homes are priced from $239,900. At The Reserve, a collection of Energy Star Certified detached single-family homes, demand has been equally as strong and prompting the release of additional homesites for immediate sale.

Residences at The Enclave range in size from 1,500 square feet to more than 1,760 square feet. Six magnificent two-bedroom housing designs are offered featuring spacious and open floorplans, large living rooms, gourmet kitchens with Corian™ countertops and GE™ appliances and huge amounts of cabinet and pantry space, nine foot ceilings, hardwood entry foyer flooring, master bedroom suites have large walk-in closets and lavish master baths with ceramic tile floors, seated showers and oversized soaking tubs. Homes in the elevator buildings also offer outdoor space and balconies, as well as indoor parking.

The Reserve at Canal Walk is highlighted by luxurious ranch-style residences which include the Concord model priced from just $357,900 and two-story homes priced from $439,900. Construction is well underway on two new model homes at the Reserve. Once completed, the models will join five existing models at the community. Some of the largest single-family designs are featured in the Ranch homes which offer up to approximately 2,500 square feet, two-and three-bedroom, 2 to 2.5 baths, and are located on oversized homesites. .

The new homes boast upscale standard appointments such as nine-foot first floor ceilings, hardwood flooring, convenient gas fireplaces and large eat-in kitchens with 42” cabinets, granite countertops and a full GE™ appliance package, including a self-cleaning range, space-saver microwave, dishwasher, refrigerator and washer and dryer. Master bedroom suites include tray ceilings and a master bath with a soaking tub and separate shower with built-in seat. The homes also include plenty of storage space. In addition to the Ranch designs, a number of upscale two-story homes in the Reserve provide many of the same standard features as the ranch homes, as well as staircases with oak treads and dramatic oak railings.

Canal Walk’s current selection of three-bedroom townhomes is priced from $320,800 and feature the convenience of a study on the first-floor.

For more information on the Reserve at Canal Walk, please call (732) 564-0010. For more information on the Enclave at Canal Walk and the townhomes, please call (732) 356-1191. Information on both neighborhoods can be found at http://www.premierdevelopment.com. To visit, take Route 287 to Exit 12. Make a left onto Weston Canal Road and proceed 2.4 miles until you reach Schoolhouse Road. Turn left onto Schoolhouse Road and continue 7/10 of a mile until you reach the entrance at Canal Walk Boulevard. Make a right into the entrance and follow signs to the model park and sales offices.
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