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Piete, Home Buyer in Mays Landing, NJ

How does this home compare, pricewise, to other homes in the same neighborhood?

Asked by Piete, Mays Landing, NJ Sun Oct 19, 2008

The description makes this home sound very lovely. But if Trulia identifies the average listing, in the same town, as $303,230 then why is there such a disparity with this one? Is this just a case of too much house or the nicest house in the neighborhood? I would be curious to know what the average surrounding home price is when compared to this home. I do not wish to offend the sellers or agent, for that matter, but if this is the price at which it needs to sell and it happens to exceed the estimated value by almost double, then it sounds like a brewing shortsale in the making.
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This question is about this property: http://www.trulia.com/property/1067163311-735-N-Chew-Rd-Hamm…

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Answers

4
Diane Glander’s answer
You cannot take average prices and use the statistic to compare the valueof a particular house. As agents, we find value by measuring a specific property against other comparable sales. If you want to see sold prices for Hammonton, go to my website and order a market snapshot. It will give you the info straight from the MLS. Then, find the homes that are comparable to this property and look at what they sold for. Even then, numbers can be confusing if you do not or have not actually been in the subject properties.
While it is not uncommon for sellers to overprice their homes in this market, it is highly unlikely that someone has priced double what the home is worth. Get yourself a good agent to represent you who knows the area and can help you make an educated decision.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Sun Oct 19, 2008
I know of the house you are referring to. It is a beautiful home with all the amenities. I knew the original owner. It is definitely not an average house, and unfortunately it is off the market.
0 votes Thank Flag Link Fri Oct 22, 2010
This listing expired on September 29. If you'd like to find out what the story is with this home you can contact me. Trulia, Zillow and other site like that don't always give an accurate picture of a home's worth. For that you'll need an agent who can pour over comparative properties individually.

Laura Giannotta
keller William Atlantic Shore
609-384-6121
0 votes Thank Flag Link Sun Oct 19, 2008
The fact is, that according to the information we can gather (from all of the MLS's we belong to) this property's marketing agreement has expired and is currenlty off the market. Without going into too much market analysis detail, this home is one of the best in the area and most homes in that area are sitting on large lots (1+ acres). Home that are at about 4 bedrooms have sold at around $360,000-$400,000. I haven't seen the inside of this home nor the amenities or features that it has, but it may be a bit high in price for what you get in that area. Doesn't seem to be any kind of sale because the property is no longer on the market. Could it be a foreclosure property soon? Could be. Only time will tell to see if it comes back up.
Web Reference: http://www.i-teamhomes.com
0 votes Thank Flag Link Sun Oct 19, 2008
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