Jim, Other/Just Looking in Tinton Falls, NJ

Need some Advice.

Asked by Jim, Tinton Falls, NJ Fri Aug 21, 2009

Oh boy, here I go. We live on Harvest Lane, off of Sycamore Ave in Tinton Falls, and a couple of weeks agoone of the neighbors put their house up for sale roughly 140-145,000 less than what houses sold for 2 years ago. Obviously this bothers us as we plan on selling our house in 5 years or so when I retire. My question to you is what type of affect will this pending sale have on prices in the neighborhood going forward?
I met the couple who are putting a contract on the house this weekend and I was biting my tongue when they were telling us about how happy they were to find a home at such a great price.
I know things can change in 5 years but thought i would ask the experts anyway.

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Answers

2
Jim,
For all we know the market could double in the next 5 years, I would not worry about it. If you were trying to sell next weeK, then I would worry, but how much was the same house you are worried about sell for 5 years ago? I bet for much less!

Good Luck!
0 votes Thank Flag Link Sat Aug 22, 2009
Jim, Tinton Falls is not my market so take my advice with that in mind, but frankly, nobody can predict what is going to happen in 5 years.
Right now, I think one of the most important things to consider is how long you have been in your home. Have you been in your home only 2 years? Then that could be a problem for you, even 5 years down the line.
If you've been in your home 10 years or more, then you may come out on top, but perhaps still not what you were hoping.
I realize that I probably didn't help you one bit and for that I apologize. There are simply too many variables that can change in 5 years to predict accurately how this is going to turn out.
I would suggest starting to look at your home with a critical eye and investing wisely in any improvements that might increase value for future sale. You might consider approaching an experienced agent for a comparative market analysis or touring comparable open houses to see how they compare to you and to get ideas for cost-effective improvements. You do have the gift of time on your side.
0 votes Thank Flag Link Sat Aug 22, 2009
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