Nouveau, Home Seller in Point Pleasant Boro,...

Please can you give me examples of the comparables (or other facts) you used to get a current average sales price statistic?

Asked by Nouveau, Point Pleasant Boro, NJ Sun Jan 10, 2010

I am referring specifically to the sale of 2029 Riviera Parkway for $285,000 on 8-18-2009. You pointed out that the average sales price for similar recently sold homes is $267,786. In contrast, the average listing price for similar homes for sale is $390,967. Thanks.

Help the community by answering this question:

Answers

5
Robert Suarez’s answer
To get the sales list I suggest to my clients, I get the most recent homes that sold in that particular area . I try to get the closest match to the home same bath,beds, so on. In this market it is also to do a time adjustment. I.E. If the last closing for a similar home was 3 months ago and the market shows a 1% drop per month I adjust the price of that comparable downward 3%.I pull all my info from the local Multiple Listing Service(MLS) This is the service agents use to market their homes to the other agents in the area. Also the MLS is where the National association of Realtors get ther statistics.High list prices shows that some agents have not informed their clients of the true status of the market in that area.If you want examples ,check out my articles in the Riverside Signal. http://riversidesignal.com/county.html
Web Reference: http://robertsuarez.net
0 votes Thank Flag Link Mon Mar 22, 2010
Hi there - agree again with Mary in her response. While the stats you find here on Trulia or on other online resources are terrifically helpful, I recommend you consider them but one source of date. Augment that with a well thought out analysis from an agent who is well-versed in producing pricing analyses, and you're well armed to evaluate any property.

I actually go back a bit further than 6 months - looking at comparables from 12 months ago, 6 months ago and also properties currently under contract, the analysis determines the trend, and then applies that market trend to a carefully selected group of active comparable properties to produce a recommended range. This will guide your evaluation, bidding and negotiation. It is important to stress that the analysis produced by an agent is not a appraisal.

An offer based on the facts of the market is far more likely to succeed than one that is pulled from the sky. The analysis will immediately expose is a home is overpriced. It will also highlight properties that are good values. Bottom line, trust the anlysis. It is worth its weight in gold.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Find success at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Jan 11, 2010
Nouveau,

Obviously your question ws to Trulia stats.They acculumate stats on a general basis and do not take into account the differences location (even the minute differences WITHIN a community) that can effect home values let alpne any improvements made to a particular home.
The best information on closed stats is to use a Realtor who has access to the MLS and typically can go back a minimum of 5 years (if necessary)to get at least the trends. As far as getting RECENT sales prices, an agent usually gos back no more than 6 monthts to do a market analysis. Again a Realtor, is your best bet. We are very well versed in doing these analyses and compensating for differences in properties to gvie you a much better view of the market and particularly the approximate value of a particular home.
0 votes Thank Flag Link Sun Jan 10, 2010
I think your question is to TRULIA- I'm not sure they will ever answer you.
However, to find some recent past CLOSED properties and those that are on the market now can be obtained via a product called "Market Snap Shot". you have to sign in and answer a few questions like: How many bedrooms/baths, apx square feet and of course the zip code or address.
To view that kind of information go to: http://www.RealEstateInOceanCounty.info
Once on the site you can choose between the Monmouth County or Ocean County MLS information.
Hope this helps. Remember it is .info NOT .com
Thanks
Marc J. Williams
A REALTOR since the 60's
0 votes Thank Flag Link Sun Jan 10, 2010
If your questions are directed to Trulia stats, I cannot help you. However, if you would like those stats straight from the Ocean County MLS, email me either through Trulia or my website, and I'd be happy to get them to you.

When an agent lists a house, we used comparable sales to help price the home. It doesn't mean that the seller will agree with the number agents provide, but it is what all agents use to argue purchase price. Therefore, it is in the sellers' best interest to go with those figures.

You can also go to my website and order a market snapshot. It will give you closed sale information for the area you are interested in, and will update you monthly at no fee, no obligation.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Sun Jan 10, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer