Hi ,
Hurry! Now that the housing market correction is behind us, we have seen the inventory in Luxury homes decline for the first time in 3 years. Sales have doubled in the past 3 weeks versus the previous 12 months sales. Why the sudden change? Home buyers know that once the surplus of discounted homes is gone we will be back to the price increases that drives us all crazy. Buy before December 2009.

There is no land remaining except on main highways, choice lots are far and few between. Most Knockdowns are in older neighborhoods.

Interest rates are at 30 year lows and the stock market continues to improve every week.

Be on top of your game call me as soon as your ready to move to God’s country.

Currently have a dozen choice approved building lots from $220,000 to $3,000,000. Homes from $419,000 to $4,900,000.

Hi Doc,

As noted here.. you should consult with a local Realtor.

My office ison the fringe of Colts Neck, feel free to stop by any time and we can discuss the area and sales.

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

JSacktig@orangekeyrealty.com

Hello Drcoltsneck,

Reviewing the comments below I notice that there has been some beneficial input. Allow me to emphasize the following two points. A question such as this is best answered by considering individual properties and the details regarding that property, such as what comparable homes have sold for, the urgency of the buyer to sell, and so on. It is true that homes that are overpriced the offer you present should reflect what the market value and similar homes have sold for. A caveat- if the home just entered the market and is overpriced, the homeowner tends to be less receptive to appropriately low offers. They tend to need some time to realize where their home stands in terms of price.

I offer the following example to illustrate how homeowners can sometimes be inflexible with offers and the detriment of such a disposition. A client of mine that was searching for a home in Colts Neck. He was looking in the 1.5-2 million range. There is a gorgeous home in Colts Neck that in 2008 entered the market at 2.5 million. The home was overpriced and my client made an offer on the home at the top end of his price range. It was rejected. The home is still in the market and is now listed below the price he offered. My client decided on and purchased a different home.

Best

Artyom and Natasha
Rogov Team
Re/max Central
Art-(908)216-5066
Natasha-(908)839-5995
rogovteam@gmail.com

Maybe not a penny - maybe a fortune! If the house is overpriced, maybe the market value is significantly less. The market has picked up again and if a property is priced right, it is going to sell close to list price. If it's overpriced based on the comparable sales data, you might be able to make a good case for a low offer.

I had multiple offers on a well-priced Holmdel house in the last three weeks - these were backup offers once a contract was signed - one offered over $100,000 more than the contract price, but came in after attorney review.

Don't miss the "Sweet Spot" in this market. Buyers who have sat it out and watched market had better step up to the plate or they will have missed the low point in the market!

Sales and Inventory Report
Category - SingleFamily
Statistics for Entire MLS from 7/1/2008 - 6/30/2009
Counties:Monmouth
Area:COLTS NECK
Price Range:800000,900000

Multiple Listing Statistics show 6 Homes SOLD in Colts Neck from 7/01/08 - 6/30/09 at 95.99% list Price

Annual: 2008 - 2009 6 $5,023,500 $872,150 $837,250 $837,000 113 95.99% 7 14.00

Colts Neck is a Outstanding Community!

DrCN,

In my view, the key to determining how much you can "knock off" the list price is contingent upon whether or not it is "priced right" to start. Some sellers remain in lala land and insist on over pricing their homes, while
others have come to terms with today's market conditions and priced their homes appropriately (in which case, an acceptable offer may not be far off list price)..

The best way to determine if a home is priced right is to consult with a LOCAL Realtor to determine market comparables and what might be an appropriate offer.

While shopping for a home, keep in mind that today's local and financial media (which tends to have a more influential effect than the input from us Realtors) have begun to speculate as to whether we are at the "end" of the downturn. While I rarely advocate the "now is the time to buy" mantra, I'm beginning to believe that the next six months is, in fact, the time to buy.

Love and Peace,
Francesca, Realtor, ePro
Serving Monmouth/Ocean County
Francesca@PatrizioRe.com

DrColtsneck,

Hi! There are numerous factors in determining the market value of a home. Therefore, when you find a property that you are interested in, you should be looking at what other properties in the area that are similar sold for recently, and the condition and location of the home. Then you can make a fair offer for the home. You should not be looking at properties in a certain price range and feel that you should automatically "knock off" a certain percentage of the asking price without considering all the factors. That is not a fair approach, not even in a "Buyer's Market".

Please feel free to contact me if you would like assistance in locating a home in the Colts Neck area, or if you have any questions and I will be happy to help you.

Francine Einhorn
Assist-2-Sell Realty
Office: 732-364-7434 X106
Cell: 732-910-7390
feinhorn@assist2sell.com http://www.francineeinhorn.com

Doc -

Not the way to approach the real estate market, thinking how much can I knock off the price. No, not being a sales person here.. I am a "financial guy". Due diligence is the key to a successful transaction. Tell me the property that you are interested in and we can make a complete evaluation of the area ad the house.. make an educated decision. To think that you can just "knock off" an arbitrary number is not going to work.
I am close to Colts Neck, know the area well and can make an objective comparison in pricing..
Email or call me and I can send you what is available along with the comps and help you make a great offer and get you that house.

John Sacktig

Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

JSacktig@orangekeyrealty.com