Home Selling in 08873>Question Details

Lana, Home Buyer in Somerset, NJ

We plan to sell our townhome in Franklin township, Somerset but there are 3 homes up for sale around where we

Asked by Lana, Somerset, NJ Wed Jan 16, 2008

are and they not sold yet since 3 months and they are dropping their prices. When should we put our house up for sale.


Help the community by answering this question:


Now is the time before the spring market when more units may be coming up for sale. In this market you need to price correctly to get your home sold. You need to look closely at all similar units that have sold and price accordingly. The prices that were attained in 2005 are most likely not going to happen now. The more recent the sales the more accurate your pricing will be. The fact that three units have not sold is not necessarily concerning since the normal time for any home to sell has increased. You can also factor the time of the year into this too as well as pricing. Price your unit corrrectly and you should not have a problem getting it sold.
1 vote Thank Flag Link Wed Jan 16, 2008
Hi Lana,

Actually, you are getting great information from the homes that are not selling. They will guide you with respect to your pricing. At the very least, you would want to price below all of them, so that when somebody DOES buy, they buy yours. You have the opportunity to look like a good deal to a buyer in your complex.

As for timing, I would ignore the others on the market. Simply list when you are comfortable and ready to get moving, and price the unit below the others.

Also, I would have a visit inside all the other units to review their features and staging. You want to make sure you look as good or better than the competition.

Good luck with your sale Lana! And if you have any other questions, contact me through my website.
Web Reference: http://www.marcpaolella.com
1 vote Thank Flag Link Wed Jan 16, 2008
It is perfect time to sell if you decide to do so. However, it is natural to wonder why the listings around your home have not sold? There are many factors that influence this. Besides, the price and condition of these homes a lot depends on the motivation of the realtor. With the right agent, your home will sell. The right agent will be personally involved in advertising on line, word-of-mouth, Open Houses, and sites such as Top Producer, Realtor.com, and ofcourse the MLS system. It is critical to do direct marketing of your home which is paid either by the agent privately or by the Real Estate Company. Prudential does extensive marketing of their listings and has been the most stable Company during the real estate market turmoil. Lana, I would be glad to meet with you and discuss about listing and selling your home. Please call me: 732-371-8349
Web Reference: http://www.arunamettler.com
0 votes Thank Flag Link Thu Feb 24, 2011

Do not respond to 3 year old threads. Check the dates before responding to questions.

0 votes Thank Flag Link Wed Jan 5, 2011
Hi Lana,

Great question because you are not the only perosn wondering this. What if some or all of these sold and you waited only to put your house on the market and 2 new listings in the neighborhood were to follow? Without my know where in Somerset this is , seeing the other homes, and yours I can't answer. what are their motivations to sell? Yours? Are any of these in need of Lender Approval? What are any repair or improvement needs? Were they priced right at the get go and down lowering the price is playing catch up?
These ideas aer only some of the factors. if you would like a home visit form me after I inspect theothers and cna intelligently discuss this will all the facts and knowledge, please contact me.
Web Reference: http://www.LesleeZipper.com
0 votes Thank Flag Link Wed Jan 5, 2011
Lots of good advise, but our franchise offers the best promise in real estate today: We will sell your house, or ERA will buy it. If you would like to learn how it works, let us hear from you.
Pat & Tom
0 votes Thank Flag Link Tue Aug 5, 2008
Hi Lana, I see that this thread has been energized by a recent answer. Not sure if you've listed and/or successfully sold as of yet, but if not, then consider this.

If you are ready to move on - then get to it and list your home. Your best bet is to price wisely right out of the gate, maximize the exposure of your home online and via traditional channels, and select an agent that will commit to - and deliver - consistent and strong effort.

I assisted a seller with their townhome sale on Mindy in the Somerset Glen community and we succeeded in selling quickly at a price within a very nice margin of 1-5% of our initial asking price. My experience is that sellers get more - not less - when they price properly from the get-go.

I can help you get your arms around a good estimate of how long it may take your home to sell by looking at the specifics for your neighborhood. It is good to have a reasonable expectation based on the facts of the market.

While you can't predict with certainty how long it will take for your home to sell, what is certain is that the greatest excitement for you home is when it is new to the market. Improper pricing - and by that I mean pricing that is too high - at that point is a mistake because you lose the opportunity and momentum of the moment.

Hope to hear from you.

Jeannie Feenick
Weichert Realtors
Search and connect at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Fri Aug 1, 2008
I would be happy to provide you with a market plan and a guarantee of my services. Please visit my website and contact me direct.
0 votes Thank Flag Link Wed Jul 30, 2008
Lana, a real estate professional will know why those townhomes in your neighborhood are not selling and can give you some good advise about putting yours on the market. Generally, Townhomes in Somerset have been averaging 4-5 months before they are sold. If you are interested in gettng more guidance, contact me at http://www.Mike-Carnese.com
0 votes Thank Flag Link Tue Apr 29, 2008

There are many factors that influence the timing of the successful sale of a home. The basis of a successful sale is ultimately reliant upon Proper Pricing, Presentation and correct Marketing.
Visit TheSOLDGroup.com to get the comprehensive rundown on how to combine these elements in your success
Web Reference: http://thesoldgroup.com
0 votes Thank Flag Link Tue Apr 22, 2008
Maybe the others are overpriced? How do they compare too yours?

If your home is "better" then price it competitively and get in the game! This is the time of the year to get it done.

Regardless of what the media claims.. houses are selling, just price it correctly and make sure you are listed with an agency/ agent that is advertising and getting homes sold.

Let me know if you are interested in a market analysis.

John Sacktig
Broker/Sales Associate
Orange Key Realty

0 votes Thank Flag Link Sun Mar 16, 2008
Hi Lana, the answer really depends on your motivation for selling. Right now it's pretty much a buyers market, and if you're home isn't priced right, then it may very well sit for a while. If your motivation is "sooner than later," then find yourself a professional Realtor who can help you with determining the right price and put it on the market now. If time is not of the essence, then wait it out. The pendulum will eventually swing in the seller’s direction.
0 votes Thank Flag Link Thu Feb 28, 2008
Both previous answers offer you good advice. Home inventories do historically increases during the early spring, but moving is all about you; list when you are ready

If you plan to remain within Franklin Township, moving-up to a larger more costly home, now is an excellent time to make your move. Your savings on the new home will be greater than any depreciated price on the home that you are selling.

I would add that you would likely to be better served buy a local real Realtor who is familiar with your marketplace. The Realtor should also possess and be comfortable using the latest internet technology to market your home for sale.

I invite you to visit my local real estate Blog, Somerset 08873, for more tips on selling your Franklin Township home. Please feel free to contact me through my website, phone or visit me during one of my scheduled local Open House dates. The next is February 10, 2008.
Best of luck to you.
0 votes Thank Flag Link Fri Feb 1, 2008
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