Your Adult Community Real Estate Place
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PRICING YOUR HOME |
including market conditions and interest rates, will determine how much you can get for your home. The idea
is to get the maximum price and the best terms during the window of time when your home is being marketed.
In other words, home selling is part science, part marketing, part negotiation and part art. Unlike math where
2 + 2 always equals 4, in real estate there is no certain conclusion. All transactions are different, and
because of this, you should do as much as possible to prepare your home for sale and engage the
REALTOR® you feel is best able to sell your home.
What is your home worth?
All homes have a price, and sometimes more than one. There's the price owners would like to get, the value
buyers would like to offer and a point of agreement which can result in a sale.
In considering home values, several factors are important:
The value of your home relates to local sale prices. The same home, located elsewhere, would likely have a
different value.
Sale prices are a product of supply and demand. If you live in a community with an expanding job base, a
growing population and a limited housing supply, it's likely that prices will rise. Alternatively, it's important to
be realistic. If the local community is losing jobs and people are moving out, then you'll likely have a buyer's
market.
Owner needs can impact sale values. If owner Smith "must" sell quickly, he will have less leverage in the
marketplace. Buyers may think that Smith is willing to trade a quick closing for a lower price -- and they may
be right. If Smith has no incentive to sell quickly, he may have more marketplace strength.
Sale prices are not based on what owners "need." When an owner says, "I must sell for $300,000 because I
need $100,000 in cash to buy my next home," buyers will quickly ask if $300,000 is a reasonable price for
the property. If similar homes in the same community are selling for $250,000, the seller will not be
successful.
Sale prices are NOT the whole deal. Which would you rather have: A sale price of $200,000, or a sale price
of $205,000 but where you agree to make a "seller contribution" of $5,000 to offset the buyer's closing
costs, pay a $2,000 allowance for roof repairs, fund two mortgage points, re-paint the entire house and
leave the washer and dryer?
How much is too much?
Because all transactions are unique there is flexibility in the marketplace. The amount of flexibility depends
on local conditions.
For example, suppose you're selling a townhouse. Suppose also that there have been five recent sales of
the model you own and that sale values have ranged between $200,000 and $210,000. You now have an
idea of how your home might be priced. In a strong market perhaps you can ask for $210,000 or a little
more. If the market has slowed, $210,000 may be a reasonable asking price, but perhaps more than the
final sale price.
Here's another scenario. Imagine that you live in a community of Victorian-style homes, most of which were
built in the 1920s. All the homes are different in terms of size, condition, modernization, style and features.
In such a neighborhood, an average sale price is just a statistic without much practical meaning. On a single
block one home may sell for $400,000 while another is priced at more than $1 million. The average price
may be outrageously high for one home and staggeringly low for another.
Who can help?
Experienced REALTORS® are active in the local marketplace and can provide assistance with pricing,
marketing, negotiation and closing.
Because experienced REALTORS® have handled many transactions, they're familiar with the terms and
conditions that went into individual sales, not just published sale prices which may not reflect various
premiums, discounts and adjustments.
CALL US TODAY AND ASK FOR A FREE MARKET ANALYSIS AT (732) 266-9736 OR TOLL FREE AT
(877) 655-9911 X23
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private or commercial purposes without the express, written consent of Victor Picazio.
This website contains New Jersey real estate information presented by AdultCommunityRep.com and other websites on all areas of buying/selling
for Monroe Township adult community residential one-family homes, townhomes, condominiums, co-op, Monroe Township adult community new
home construction, Monroe Township adult retirement home communities, lease/rent, , For Sale By Owners (FSBO). This website permits a free
complete MLS search of New Jersey with homes throughout the state including but not limited to cities, such as Monroe Township, East Brunswick,
Spotswood, Jamesburg, Helmetta, South River, Plainsboro, Princeton, Marlboro, Manalapan, Middletown, Rumson, Long Branch, Colts Neck,
Matawan, Keyport, Sayreville, Parlin, Tinton Falls, East Windsor, West Windsor, Howell, South Plainfield, Avenel, Woodbridge, Carteret, Colonia,
Englishtown, Millstone, Neptune, within Middlesex County, Monmouth County, Ocean County, Somerset County. Extensive information pertaining to
all areas of real estate such as Finance reports, mortgage calculators, New Jersey Adult communities, school information, and Middlesex county
information are some of the information covered in detail.
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