Now all that said, and regardless of the outcome, the fact is this...the first 60 days of the marketing of the home are THE most important. Even if the statistics suggest that it will take longer, and they probably will, the reality is that the greatest excitement and interest for your home will be during that initial period when you are new and fresh. The buying public is more educated and sophisticated than ever before - thanks to the resources like Trulia. They know what you paid, they know when you bought, they know the comps, and they will recognzie if your home is priced properly or overpriced. If you price too high during this period, you are making a huge mistake, because you will quickly lose the attention of buyers - and frankly agents that bring buyers to you - and you may not get them back even with price reductions over time.
Be realistic and price your home properly right out of the gate. Maximize the activities in the first few weeks - broker opens, public open houses, explosive online promotion, email blasts to agents, maximize everything about your listing - photos and verbiage - to draw attention and visits to your listing. Then listen and process the feedback. If you are are priced too high, adjust quickly.
Do this and you will sell quickly and for top dollar. Also, to put your home in its best light, declutter, and lightly stage. I can't tell you how many homes that haven't sold in our area are being repriced and staged, and wa la, success!
Unwavering Commitment to Service
Find success at http://www.feenick.com
The days on market is a little more cut and dry, however, you should look at the current month as well as the trend over the past year. I would also look at the same stats for neighboring towns and the region in general. It's easy to misinterpret statistics so this should be just to give you an overview of the market NOT to nail down an exact timeline or to set unrealistic expectations.
Why are you asking the question? Are you evaluating your current listing agent's performance? I think if you expand your question and include the reason you're asking, we'll all be better able to help guide you.
I hope that's helpful... if so, click the "thumbs up" below,
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets
Read my Blog at http://hometeamNJ.com/blog
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Pricing is very important. Its a buyer's market. If you overprice your home in hopes of negoiating down then expect very little or no showings at all. If your agent does not take the time to post pictures and provide a full description then expect no to little showings. If you want folks to flood into your listing then price 3-5% below market value. Agents and buyers alike will recognize the potential and see you as a serious seller. You can save yourself many months of showings and no offers or no shows along with frustrating missed appts and keeping the home show ready by pricing right. In the long run the longer you are on the market the less you will net. A detailed market summary report along will outline how to proceed. Many folks now are taking advantage of the extended tax credit. Set a goal to have your home under contract before this time period expires. Who knows what the market will be like and if buyer interest will cool off come July 2010.
Jeremy S. Hill, Realtor Associate,
Keller Williams Realty
Licensed PA, NJ
"Your Interest 1st Always"
According to TREND MLS, the average days on the market for a home in Woodbury Heights for January 2010 was 147 days. If your home is priced correctly and shows well in pictures and is showcased properly on the internet you should have a steady stream of showings. The first 30 days is the most important for a new listing. If you would like to see more detailed market information for towns in Gloucester County follow the link below.