Home Buying in 08873>Question Details

Rg, Home Buyer in

How much 340k listed townhouse can come down in Quailbrook regency ?

Asked by Rg, Mon Sep 8, 2008

I am trying to 340K listed 3 Bed, 2.5 Bath townhouse in Quailbrook. Unit is in good condition but i am having a feeling that there should be a affect from downturn in Housing market. I think market in this area is 15% down from previous year. So any suggestions on negotiating on this price ?

Help the community by answering this question:


Hi Rg: I do a lot of business in Quailbrook. That price does seem a bit on the high side, but I don't know what the condition of the home is. You should ask your Realtor to pull comparable sales for you, to come up with an appropriate offer.
1 vote Thank Flag Link Mon Sep 8, 2008
Hi Rg,

Only the seller can answer how much s/he is willing to come down on price, if s/he is serious about selling. The market, ultimately, dictates what a home is worth.

I must agree with Denise that the pricing also depends upon the condition of the home and the model. Has the home been updated with a new kitchen and appliances, floors, windows and or HVAC? Is the home freshly painted? These things matter. Regency townhomes are among the most upscale in the Quailbrook area. Some include basements as well as garages. The price might be high or right on target. Only months ago, another Quailbrook home sold for $335,000.

If you are not already working with a REALTOR, I would be happy to provide you with a comparative market analysis or CMA. If you are working with a REALTOR, ask him/her to provide one for you.

I don't know where you found assumptions of a 15% decline in local market values. There is a saying that all real estate is local. It's true. The New Jersey Association of Realtors (NJAR) has produced "Get The Real Story" on NJ real estate that's available online at: http://www.realstorynj.com

I also provide regular monthly stats on our local real estate market on my Blog, Somerset 08873. Talk with your REALTOR about your concerns. And, again, if you are not working with a real estate agent, I would be happy to assist you in your search for a Somerset home.

Best of luck to you,
Michael Adams
E-Mail mjadams@century21.com
0 votes Thank Flag Link Wed Sep 10, 2008
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