Home Selling in Voorhees>Question Details

bayer3000, Home Seller in Voorhees, NJ

How much have prices improved in the past two years?

Asked by bayer3000, Voorhees, NJ Tue Feb 12, 2013

I live in Partridge Run for the past two years and now am looking to sell due to job relocation. I've put in over $12K in improvements (ie. new carpeting in the living room, laminate in the dining room, new appliances in the kitchen). Given the this and the change housing prices in the area over the past two years, can I anticipate selling for 5%-10% more than I paid?

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6
Hello. First of all, congratulations on the job relocation! All the best with your new position. Improvements in your home will certainly help get a buyer. While 2012 saw an increase in home sales and some have reported a national increase of 2% in value; each community and home need to be evaluated on their own. This is mostly due to distress sales vs. normal sales. Your community has had some distress sales and if I am assuming that you are not in that category, then it looks like prices did not change that much for the better from two years ago. I would need more information to give you an exact answer, such as what you paid and a physical inspection of your home. I would be honored to provide for you a market analysis once I am able to see your home in person if you are so inclined. All the best to you and thank you for reaching out with this question. Danielle Bailey, Prudential Fox & Roach, Voorhees/Marlton Marketing Center, Cell: 856.816.7112
0 votes Thank Flag Link Wed Feb 13, 2013
Depending on what you paid for the home is the only way to answer.

If your home shows very nice, as it sounds like it does, you will more than likely realize an increase in value.

Although we've seen a decrease in values in last 2 years, we have also recently experienced a stabilization and up trend in prices as inventories are low. this has only been since September. who knows how long it will last. But if you want to sell, now is the time to put in the market. Lots of interested buyers out there with lots of special interest in Voorhees.

It is a good time to sell while inventories are down. Particularly if your home shows very nicely. It sounds like you did the correct improvements such as kitchen and flooring. Kitchens and baths sell homes and then some thing different about your home will make it stand out. Offers come in quick right now also.

There are 2 homes for sale in your dev list price 229000 and 235000 24 Days on market and 5 days on market.. However 3 homes are sold 2 were short sale 215000 pending and 235000 short sale sold price and 226000 regular sale sold price. Although these solds were on the market a long time you will find it interesting that they were all sold in last 6 months...

The trend has certainly changed and in your favor is low inventory. If your home has appeal in and out I see no reason for it selling around 235000 with an asking price-240000 This would give you your best chances to turn it over quickly.. You may more value... but I should not be too out of line with these numbers.
If I can help please contact me...


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0 votes Thank Flag Link Tue Feb 12, 2013
To answer your question in the most accurate way, you will need a professional market analysis by a realtor or pay for an appraisal. We are seeing prices in Voorhees stabilizing as in most other local communities. Condos and townhouses typically lag behind single homes in a recovering housing market but depending on how your home shows in comparison to others that have sold recently, you could realize an increase in value. Being a long time Voorhees resident, I am well aware of local values. Let me know if you need any help in that regard. Thanks for your inquiry!
0 votes Thank Flag Link Tue Feb 12, 2013
Hello Bayer3000,
Thank you for your question.
It sounds that you have taken care of your home and freshen it up with new appliances and flooring. When you do some updating in the home it will help to sell it faster but sometimes you do not recoup all the money you put in. I am enclosing the cost vs value chart that will give you an idea of what I am talking about. Kitchen and bath renovations will give you normally the most.

http://www.remodeling.hw.net/2013/costvsvalue/division/middl…

I will be happy to send you by email or meet with you to show you what's available and what have sold in your specific area so you see what numbers you should expect . If you have any questions do not hesitate to contact me.

Good luck in the sale of your home and in your new position,
Ines De La Cruz, Realtor, ABR, CRS
RE/MAX Connection
609-313-8518 or inesdelacruz.com
To see all the homes in NJ visit http://www.inesdelacruz.com
0 votes Thank Flag Link Tue Feb 12, 2013
The only way I could answer that is knowing what you paid 2 years ago. Prices went down the past 2 years but we are now in recovery mode. To determine a fair market value price you can either hire a professional appraiser or interview Realtors who will do a market analysis.
Some homes, when purchased low and fixed up, can indeed yield 5-10% more than the purchase price from a couple of years ago.
0 votes Thank Flag Link Tue Feb 12, 2013
generally speaking Prices in NJ have not gone up. prices from the last 2 years are about the same. If you have made improvements you might get your money back. Inventory is low. so you may be able to sell quickly. Contact me and I can set you up with an agent that does a lot of business in Partidge Run.
0 votes Thank Flag Link Tue Feb 12, 2013
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