Kris Krenz

We are going to stay put for a while. We mainly wanted to get rid of one property as it was time to down size. We offered both properties thinking that someone would want a larger piece of property or that someone would purchase one of the two. If someone purchased our new house we would have moved back into 49 Edwards. My wife and I would be very happy in either house.

I'm sure the market will turn around, then we may sell. Now isn't the time, unless someone made us a cash offer we couldn't refuse. But for now, we have a beautiful house in a beautiful, peaceful location. Now is the time to enjoy our home and spectacular view without having another property to worry about. -- I feel like a huge weight has been lifted off my shoulders. - Thu Aug 13 2009, 11:38

On Wednesday, we closed on 49 Edwards Road. I still firmly believe that 49 Edwards Road was the best value for an open waterfront house in Brick, NJ.

I want to add that Susan Cowan of Gloria Nilson was the only Realtor we dealt with who kept a positive attitude and remained supportive regarding our house and location. We listed with her Oct. 2008. (She was the 5th Agency and Realtor to handle the listing. ) We found that the other Realtors we listed with prior were very positive and aggressive, till they got the listing, then pressured us to lower the price by preaching economic doom and gloom and that our community of Breton Woods is not desirable. -- You can't sell something if you have a negative attitude. Susan never once put down our community. She also never steered buyers to other locations.

My biggest observation was how aggressive the hundreds (yes it seemed like hundreds) of Realtors were in wanting the listing, but when the listing was granted the aggression to sell the house stopped. We did a lot of research and were listed with top producing agents and Real estate agencies in our area.

I will have to say that I am glad we sold the house, but the overall experience of dealing with Realtors during this almost 4 years of trying to sell this house left a lot to be desired and was a very frustrating experience. I'm not saying that all Realtors are bad, but there is a lot of dirt to dig through before you find a gem or a true sales person. - Fri Jul 24 2009, 07:03

I have for the most part followed everyone’s advice. There seems to be no rhyme or reason as to what will get our house sold.

Since our current Realtor was doing the best job versus past Realtors we extended our listing with her. I never realized how this upset a number of Realtors, because they wanted the listing. – Actually many even asked for the listing in a round about way before our listing was due. – Now where are these Agents?

They all said it was a great property and should be easy to move. And yes the waterfront houses in my area are selling. I kept track of them all. I also keep track and personally view the similar properties that have become new listings.

Frustrating, you bet because those potential buyers were never shown our house. In the past few days I was doing yard work and people slowed down and looked at the house. I waved for them to come out and look. They had no clue as to how large the property was because you can’t see it from the road. You only see the deck and water. But not the lower deck, dock and beach. In each case the people wanted to know when the listing was up. They wanted to make a “deal” with us. It is interesting how people want to cut out the Realtor. We told them to contact our Realtor... no one did yet.

We also confirmed that the property is large enough to be considered buildable. One very well known Realtor put doubt in potential customers head about this and sold them another property up the street that was a little larger. – We have gotten to know the new owners they are a great addition to our neighborhood.

Our house still remain for sale and is the price leader in similar properties with all the features we have… the market has to chase us. All recent similar homes sold for more.

So why is our house still not being shown?

We are having a spur of the moment open house that will not be advertised in the local paper, but I have posted it on my website.

We invite all of you to come see the property tomorrow, Sunday April 26, 2009 from 12:30 till 3:00 - Sat Apr 25 2009, 07:18

Dear Deborah, Thanks for your wonderful response. As you and everyone one can see I have formed a perception of the industry. I'm still remain very frustrated. - Tue Mar 24 2009, 15:11

When the house goes off the MLS/contract, I will be flooded with phone calls, not from potential buyers but from Realtors wanting the listing. This is what upsets me about the industry. Where were you guys when the house was for sale? And why do you want the listing so bad if you never even bothered to visit or show the house? The first question I always ask is have you seen the property? If they say no, I ask them why?

I do go into local Realtors offices when I’m running errands around town and hand out literature with my website info. In each case they want to know when the listing expires. I ask if they have seen the property and 95% say no and 90% percent are unfamiliar with the property. I invite them to come see the property as the MLS does not do it justice and my website can’t be linked to the MLS. Listed on the website is the property survey, room sizes, many pictures, area info. and other links. But again the sad part is that everyone seems to want nothing to do with the property unless they or their agency owns the listing. – Or this is the impression I’m getting.

I started this post about a month ago because I know so many local Realtors and even potential buyers read these boards, but only a handful of realtors actually have stopped by. Many were from out of the local area. I fully admit that I can’t sell this property without your cooperation.

Lookingforthenextone – The property went under contract for much more than $565K so you need to adjust your numbers. Another comp. on the same side of the river closed in Jan. for $600K.

There will be an open house this Sunday March 29, 2009. Come out and see the property... - Tue Mar 24 2009, 07:33

Part 2 of 2

Continued...

All one has to do is take a boat ride up and down both sides of the Metedeconk River and you will see no real difference from one side to the other. Yet similar sized lots on the “Prestigious Princeton Avenue” side will sell for a lot more. What would make that buyer happier there versus Breton Woods? The access streets and out laying neighborhoods are no better or worse on either side of the river. I think it is more difficult to get around on the north side of the river, as you always have to do loop-de-loops to go to the beach or shopping. We are all in Brick, sharing the same infrastructure and school system. You will see all new homes including million dollar homes on both sides of the Metedeconk River including Breton Woods. Someone must know the value of living and investing in Breton Woods or you would never see all these new houses, including million dollar homes. – One realtor stated that no one has ever sold a home over a million dollars in your area. That is because these are newer homes with younger families and couples who are staying put. A majority of the waterfront homes sold recently in Breton Woods and throughout the past 15 years I lived here have changed hands because of old age, death or it was turned over to a family member. I could turn the tables and ask, “Why all of a sudden are people selling newer million dollar homes off Princeton Ave. and Island Drive? Why are they leaving?”

It is likely that 49 Edwards Road will be torn down and a new larger home will take it’s place. Just the property alone is worth the price at the current listing. There are vacant lots on the Metedeconk River which are selling for more with less view and on lower ground.

It seems on this post is that everyone is pointing the finger at the homeowner, but we have only done what we have been told by professional realtors including top producers. I think there is more here than just a price issue. I think it is misinformation and lack of area knowledge along with overuse of the statistics. Why was 15 Edwards Road slate wiped clean? It was on the market for over 4 years with the same agency. Why didn’t “that” stigma hurt and keep agents from showing that house? If you also check the facts 3 Breton Road was also on the market by the same owner not long ago and was pulled off the market for a short period. Why did they get a clean slate? You can understand my frustration.

I ask all you realtors to put the old thinking and odd statistics aside. Visit the property. Show the house, educate the potential buyer and let them decide the pros and the cons. – Get selling and good luck!

Kris - Fri Mar 6 2009, 12:32

Part 1 of 2...

Hi Deborah, The reason for the price drop and increase was that we needed to close prior to December 31, 2008 as that was the drop dead date before we have to pay capital gains taxes, as this house was our primary residence four years ago. We had a fire sale which no one took advantage of. Had we been advised that this would have worked against us, we would have never done this.

I understand what you are saying about the price changes but it is also up the Realtors to educate the clients as well and say, this is a good buy/value let us check it out.

15 Edwards Road that closed a few months ago was on the market much longer versus our house. They chased our price consistently. We always led and were the leaders. The market chased us. The facts are wrong about 15 Edwards Road selling in less than 45-days or something like that. If you check out that history you will see the house was put on the market in 2005 at over a million. The house has the same wood paneling as ours however when an addition was built the great room became closed in and dark. But that didn’t keep the house from selling. What upset us about that sale is that the buyer wanted our house but was told our lot was not a buildable lot without checking the facts with town hall. This was the reason that agency was fired. -- Our house was listed with the same agency as 15 Edwards at that time.

When we first listed our house we found the agent was inexperienced, but after the contract was up we searched for the area's top agents, people with a lot of experience and known sales track records. We spent days interviewing people. They all loved the property and were in awe by it and claimed they would get it sold. I will not name names. We followed all of their professional advice, but found the marketing to be weak and always identical from one agency to the next. Every realtor says how the Internet is the way to go as well as everyone goes on line. What ever happened to good old "one on one" sales with finesse? In this tough market people are going to sell houses not the Internet with all the flawed info. misleading wide angle pictures, pictures of a view over or through the neighbors property.

By the way all those realtors we interviewed, when they didn’t get the listing, they never came back to show our house. When we switched agencies, no one from the listing agency office including the former listing agents with the exception of one, ever came back to show the house. – Is this sour grapes?

You can understand the frustration level we have. I also learned and was directly told that some realtors are instructed and will only show their own agencies listings. Hence we figure if we switch realtors we would get a whole new set of agents showing our house. – This proved to be true.

The other issue that we found which hurts us is that perception that our area, Breton Woods, is not a desirable area to live. If that were true, we would have never built a new waterfront home here. Sure, it is an older community, but the new houses and renovations have really improved this area. Realtors are not going to sell or promote an area if they have a particular bias or negative opinion. This could be interpreted as steering. MSN just had a story titled “7 tips to sell your home in a crowded market.” One point was “Sell” your entire neighborhood. – Help your buyer get past the fear that something may be wrong with the neighborhood.

So I need to ask? -- What makes Princeton Avenue so great? If I read “Prestigious Princeton Avenue” one more time I’m going to puke! It may have been “Prestigious” at one point and time, but no more. Sure there may be larger homes, but no community infrastructure and very few local businesses. What makes Sandy Point, Kettle Creek, Beaver Dam or Bay Wood so special? - Fri Mar 6 2009, 12:25

Dear Dani, The house is custom with the original cedar paneling on the inside native to NJ. If you paint the paneling you ruin the house. The house that was on the market and just sold at the same price at 3 Breton Road is identical with the same paneling and was listed at the same price and sold immediately at a higher price versus what ours is now currently listed. Our location is better. Our house was side steped because it has been on the market for much longer thus perceived by Realtors as a problem.

On my web site there are many pictures of the house with the exception of the baths. The half bath on the second floor is much larger versus the full bath at 9'x7' so there is plenty of room to add a shower and make 2 full baths. This also is the only room with white walls as it was part of an addition in the 70's. The other bathroom has a one piece fiberglass bathtub and shower. All the bathroom fixtures are newer. The Kitchen features all newer stainless steel appliances. Dishwasher, Refrigerator, Stove, Convection Microwave. Our kitchen is much larger and more modern versus 15 Edwards and 3 Breton Road. Both have sold recently. You can see these on my web site which can't be linked to the MLS. I built my own website to provide more information about the house and the community, but because of "rules" it can't be linked.

Even with the wood paneling the house is bright, open and airy during the day. During the evening you have a wonderful cozy atmosphere -- great during the holidays. This is why people need to see the house versus looking at pictures.... I get so upset with Realtors telling us to ruin the house by painting or covering the classic paneling. The new homeowner should decide this, not us.

The exterior of the house is true cedar shake typical of a "shore" house. Almost every house in "Prestigious" Bay Head and Mantoloking have this expensive siding. This is not cheap old asbestos garbage. Again go out and look at this house and the view. It is an overlooked treasure. When agents take a look, they are pleasantly surprised at how nice the house is.

All the square footage info is not correct... This is why we are burned. Just the floorspace in this house 2000 plus square feet. I did the calculations today.

THE PROPERTY IS 40' x 100' or 4,000 sq feet. THE FACTS NEED TO BE CORRECT! Visit my website for a copy of the survey.

Come to our open house and send your clients.
Kris - Thu Mar 5 2009, 14:01

We spoke with our agent and did lower the rate. This property should be priced very correctly and competitively. Frankly I think we are giving it away. Currently we are the leader and our house should sell very quickly. But it is up to all of you realtors reading this to get the word out.

I have become very knowledgeable on all similar open water properties on the Metedeconk. Just because it is my house, I’m not emotionally attached. I know all the strengths and weaknesses and we took those into consideration when we initially priced. There are so many positives to this property versus the homes mentioned in this post that recently sold. -- Our location not only on the river (one of the highest properties.) but is also on a wider quieter street. Many waterfront homes feature in the MLS show pictures of waterfront views looking across the neighbors property including boat lifts and other obstructions. That view is never a guarantee. I always thought location, location, location was important.

We also had no problem with access during the recent snowstorm. We are now priced less versus what those two homes sold for. There will be an open house on Sunday. The temp should be in the 60's so Sell, Sell, Sell! I followed everyone’s advice so no more excuses as our house should be the next riverfront home sold. We expect to see you and all of your qualified clients there on Sunday or any time. - Thu Mar 5 2009, 06:41

Dear Gregory, I think that is a great idea. There was a recent broker open house 3 weeks ago... the turn out was ok but not great. There were a few in the past years. The best was in "2006" as it was a big waterfront lunch party on a sunny warm day with about 20 plus agents. All the agents loved the property as stated in the feedback and that was before we added a new roof and made other improvements. -- Where are these agents today? It seems like we have fallen off the radar. - Fri Feb 27 2009, 08:46

Thanks for all the great responses. I didn’t mean to snap out at anyone. I apologize. I am just very frustrated. We have made many improvements to our house and have adjusted our price downward and would accept a reasonable offer, which we have not received one to date.

It is interesting that 15 Edwards Road was listed as having a garage there is none. I do know the new owners. They were interested in our house but were told our house was on a non-build able lot. So they went with the other house. – This is another long and upsetting story. The realtor should have checked with town hall first before making that call. A new house was just built on a smaller lot a few door away. We would have stayed with that Realtor, but because of this incident we changed.

Ironically any time we have switched Realtors, that is the last we see of them and for the most part their agencies personnel. I figure a sale is a sale and since they know the property well and told us it was a great piece of property with a spectacular view (unless they were lying to get the listing) wouldn’t they want to sell it?

The other thing that is frustrating is that 3 Breton Road was listed at the exact same price as our house and went right under contract with another agency not the listing agency. I do know the dollar offer that was accepted and it is not that far off the asking price. We gladly would have accepted the same offer. I do know the owner of that house and know the property well. They are both built around the same time probably by the same builder and have the same basic floor plan. The only major difference is the location, parking and elevation. 49 Edwards Road I think has a few more advantages. Our house wasn’t even considered in the mix as I met the agent. This agent said our house showed no price movement thus it wasn’t considered or red flagged. This agent said that probably no agency would really show it because they figured the house to be “flawed.”

From what everyone is saying here if someone was considering the Breton Woods area and the house is only two blocks away and the same price, wouldn’t you show it? Also because two similar types of property sold recently at similar listing prices and offers we would accept, doesn’t that mean we are priced correctly for the market?

The house is very accessible to any agents. It is currently vacant with a lock box. One agent mentioned it is not on the MLS. It is listed on there as it isn’t a FSBO. Also mentioned was the large number of waterfront properties.-- I know there are a lot of waterfront properties listed in Brick, but only a handful of open waterfront homes on the Metedeconk River. Our house is the second lowest priced but the lowest price house with the view and location. You cannot compare our property with a lagoon house, but I know it is done. My step granddaughter just listed and sold her home on Sandy Point Drive in less than a week and our house was used as a comp when they listed. – This makes no sense since the house is not on the open water.

I live and work from my house next door and my office faces the street. On a daily bases I see real-estate agents drive by. They slow down and take a look and drive on. I keep on telling my current broker that agents need to get out of the car and walk to the river side where they will be awe by the view, the large deck, garden, etc. Very few agents ever get out of the car. Everyone who does is pleasantly surprised. The lot looks smaller from the road because of the elevation. -- You can’t see the dock, lower deck over the water and the beach. Whoever purchases this house will be enjoying the riverside not visible from the street. I built my own personal website to include more pictures, include a survey, local links, etc.

I will be happy take on more advice from all the professionals here. You cannot understand the level of frustration my wife and I have. I discovered trulia as I was searching for closed properties. I’m very well aware of what sold on the Metedeconk River and what homes are for sale. So I am very new here. I also invite every one of you to visit our property any time. Please walk around the house and enjoy the view. Feel free to knock on the door next door if you have questions. - Fri Feb 27 2009, 07:31

Hi Heather, your facts are out of date. Our home is priced correctly. 15 Edwards Road just up the street from us sold January 16th closed for $567,000. This home was rated in an appraisal as poor condition. Under contract is a home that just went on the market recently at 3 Breton Road. We are not supposed to know the price but this house sold for $570,000 plus. The house at 51 Metedeconk Rd that sold on 9/3/08 for $445,000 never hit the market and was sold to a relative or family at a significantly discounted rate. I asked this question in another post. That house has since been demolished and a new house is now framed. We by no means are chasing the market. I'm only stating facts. So why is our house being over looked? - Thu Feb 26 2009, 14:56

I did join zillow and disputed the information presented at least a year ago. Nothing changed. Why would a non waterfront house across the street on a similar sized lot be similar in value? There is no way to find a live contact at zillow. They still even show our old listing agent. Very impersonal... Maybe I shouldn't complain to loud because our taxes are still extremely reasonable.

If anyone knows a way to contact a live person via phone at Zillow please let me know.

Francesca, you hit the nail on the head about internet portals in their infancy stage. People who take this information to heart including the real estate community will be misinformed on certain properties such seems to be the situation with our house. - Kris - Fri Mar 6 2009, 12:54

I don't know if you can call the whole town quaint, but there are many quaint areas. I live in a waterfront home in the Breton Woods Community. We have a fun property owners association with large club house, beach and dock. There are many activities such as a pig roast, and clam bake. Our association also hopes to have a pool this Summer. Our community is family oriented affordable, has the lowest taxes and is a walking and bike around area. From our waterfront home we can walk to food shop, got to a bakery, pizza place, dunkin, or go to a restaurant, etc. without having to cross a major street.

My wife and I are trying to sell one of our homes and I created a website 49edwardsroad.com that features a section on Brick with many local informative links. I also have a short history of Breton Woods with pictures. Best of luck. I'm sure you will enjoy the area if you decide to move here. - Thu Mar 5 2009, 07:29