Sure, what's the mls # I'll look it up and run a few comps for you.
If possible I'll stop by the home and preview it to check out the condition as well and give you a little feedback. All just because I'm a real nice guy and love what I do, by the way I pride myself on my pricing evaluations being on the money or at least very close to the actual sales price when they do sell.

I've done hundreds of valuations for banks as well, I bet their loving my evals now. lol...

Good Luck...

Victor
http://www.RealRep.com

Thu May 22 2008, 21:33

I am a South Jersey Realtor. I listed a home in South Jersey in January 08 and attracted a buyer who had a home to sell in Rahway. I referred him to an agent local to Rahway. With guidance from the agent and a stager he neutralized his home, packed up the clutter and stored it off site. The home sold the first day on the market with multiple offers. I don't know your market, but in this case with the home staged appropriately and priced right a sale was quick and we all profited.

Fri May 16 2008, 05:29

At this time of the market, price is the biggest factor. Forget staging, buyers right now are looking for deals- the lowest price they can get. Also how fast you can close. With short sales, it's impossible. REOs, bad shapes. Price the house to sell. Find the comps (pendings and sold within the last month) only to see if yours is in the same position.

Thu May 15 2008, 23:54

I'm local and know the area well; it looks like you’re an agent from Franklin Lakes?

Do you have the home listed in the http://www.gsmls.com if not it needs to be.
Do you have a lot of experience doing CMA price evaluations?

You'll need to run your comps at LEAST monthly calculate absorption rates, recent sales and try to find out under contract prices if you can manage to pry that info from other agent’s lips.

Also look at the home when comparing to others that are selling, is it really comparable?

Junk = Lower Price
Fixer Upper = Lower Price
Faster Sale = Lower your current Price

Have you had any interest? Ask for feedback?
Talk to mortgage reps, not just one to keep on top of different financing options to make sure you can get an interested party qualified.
Ask mortgage reps if they recently pre-qualified anyone looking in the area in the price range and ask them to show them your listing, send them a flyer.

Good Luck...

PS. I give generous referral fees ;-)

http://www.realrep.com

Thu May 15 2008, 14:09

MARY LOU

HOW IS THE HOUSE STAGED, IS IT VACANT OR ARE YOU STILL IN THE HOUSE? IS IT EASY FOR BUYERS TO GET INTO THE HOME? IS IT LISTED WITH AN AGENT?

MIKE

Tue May 6 2008, 12:48

I agree with the pro's here...de-clutter and reduce..list it exactly where you want it to sell and don't accept anything less! It's worked for me.

Mon May 5 2008, 14:56

Staged homes typically sell faster. If you are not confident in your ability to help the seller stage their home go to stagedhomes.com to find a professional stager in your area. Statistics show that staged homes can generate additional buyer interest, maximizing the selling price of the home and/or selling in the least amount of time. The cost of staging a home is usually less than the first price reduction.

Mon May 5 2008, 11:24

To add to the great responses...Is it irrestible or at least inviting when you drive by? Do you need to add a pot of bright red or yellow flowers? Once inside, is the home staged in a clean, spacious,flowing way? Smell good? No clutter? I'm sure you know all these things, but even in selling my own homes in the past I have taken the advice of top agents who walked through and advised me to really scale down on furniture and photos, collectables and clutter of any kind. If house is empty--maybe consider sparsely staging. If you don't want to use furniture--a few tidy towels and candle in bathrooms and a pot of fresh herbs growing in kitchen can add an inviting touch. Best of luck!

Mon May 5 2008, 10:14

Rule of thumb (and I tell this to my sellers): assuming you are doing appropriate marketing, 10 showings with no offers, it's priced too high.

When I review the market with my sellers, I show them the sold comps and tell them "these are the comps." I show them the active homes in the area in their price range and tell them "these are the competition." If you are in a buyers market and your house is not in the top third of condition and the lower third of price, then you are only helping sell the other homes on the market.

Mon May 5 2008, 06:15

Marylou,
Are there other properties in the market that are selling. Analyse the market and then try to position your product so that it is the first one off the shelf. They say that price cures all ills and that you could sell a house in the middle of an airport if it was priced right. But some markets nothing is moving.
I was at the annual economic frorecast luncheo but on by our state association Friday. She showed a map with forclosures and REO's in Merced CA, then she panned back kand right across the main road there was a few houses for sale and no foreclosure/REO property. Point being that every market is unique and you need to focus down to the specific and then get it positioned that the next buyer that buys buys yours.

Sun May 4 2008, 14:38

Good point Marc - this is Jeannie again - sorry for confusion Marylou. If one of your listings, then I'd say arrrange that sit down with the seller and if your marketing is on target, have the tough conversation with th seller on price. I will share this with you, in the last two weeks, I've had three inquriies only across two listings, one an agent showing and the other two from potential buyers who found the listings on line. If you don't have this house aggressively exposed online, I'd recommend you do it. ...and hit that price to boot.

Again, sorry for any confusion I may have caused.

Sun May 4 2008, 06:53

Marylou,

Is the property in Rahway one of your listings?

-Marc

Sun May 4 2008, 06:35

Hi Marylou, across the state it is taking longer for homes to sell so it is important to adjust your expectations. The first suggestion I have is to ask your agent to explain the market absorption rate for homes in your price range in Rahway. This will answer the question of how long it is taking for comparable homes to sell on average. (If you need more information on this calculation, I'm happy to provide it.) Then adjust your expectation accordingly.

Next, now more than ever, everything counts. Be sure that your home is being actively marketed by your agent. And today, with over 80% of buyers first finding the home they ultimately buy online, it is critical that your home be aggressively marketed on line!

If you feel that your home is being marketed strongly great. If not it is time for a heart to heart with your agent. I'm sure that he/she will be open to making adjustments - after all, you both are focused on the same end - successfully selling your home! Incidentally, at the time I take a listing, I make an appointment for a meeting one month out and explain that we must commit to meeting face to face so that we can discuss progress, make adjustments to our strategy if necessary, and reflect on price. It is just that important to stay focused on not waste valuable time.

That brings us to price, well marketed and properly priced homes are selling, but yours is not. If it has been 30-60 days and you are not attracting showings or an offer that sticks, then it is time to make a price adjustment. Think of a fishing analogy Marylou, if you're not getting anything on your line, would you just sit in the same spot with the old tired bait on the line. No it is time to change position and change the bait.

My last suggestion, don't waste time. Make any marketing and pricing adjustments quickly. You are more likely to get your home sold during this Spring market than any other time during this calendar year. It is well underway, so you do not want to miss it!

I hope you find this helpful. I've got a section in my website entitled "The Feenick Advantage" that speaks to a number of these points.

Best,
Jeannie Feenick

Sun May 4 2008, 06:28