Monday, July 23, 2007

Market update - Pricing homes to sell

Each and every home that is put on the market will sell if it's priced right! Regardless of the location or the condition of the home, again, every home will sell. It is crucial to get this fact across to our sellers.
We need to make sure that we are thorough in our research of the recent comparable sales and then suggest a price to the seller which makes the home more attractive than its competition.
Let’s get aggressive with broker open houses, public open houses, “just listed” mailers and plenty of internet marketing.
Many Realtors are being faced with sellers that "have to walk away with a certain amount of money out of the sale." We are seeing sellers write a check at the settlement table if they really want to sell. We are also seeing sellers not listen to the advice of their Realtors and they are remaining steadfast on their “have to walk away with” price. These are the homes that are continually expiring.
In our area we are seeing multiple offers on listings if the home is priced correctly, and we are also seeing homes expire which are not priced correctly! Which listings would you rather have?

In the month of June 2007 the following occurred along the mid-town direct train line in New Jersey:

Long Hill Township

New Listings - 17

Under Contract Listings - 07

Sold – 10

Average sales price - $537,000

Berkeley Heights

New Listings – 20

Under Contract Listings - 8

Sold – 20

Average sales price - $638,000

New Providence

New Listings - 16

Under Contract Listings - 10

Sold – 13

Average sales price - $534,000


New Listings - 31

Under Contract Listings - 20

Sold – 30

Average sales price - $1,307,000

Prepared By:

Dianne Sommers

RE/MAX Classic Group

Serving Long Hill Township (Millington, Stirling, Gillette, Meyersville), Berkeley Heights, New Providence & Summit

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