I'm selling my home due to relocation.

Asked by dkoppenal, Howell, NJ Sun Nov 10, 2013

My home has been listed 50 days with at least 25 showings. The feedback has been that every buyer Loves the house. The lot is the issue- it's a cul de sac with a wide back yard(not deep) with woods. Beyond the woods is a highway - all buyers have said it's the lot. We are listed below zestimate and have reduced the price 3 times- we are in comp range.

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Steven Cohen, Agent, Morganville, NJ
Sat Nov 23, 2013
Sounds like you are getting good traffic which means your agent and the agency is doing a good job. Brokers open house helps acquaint realtors with your property which is a good thing. Frankly, given the location the comps that were used may have a better location then your home. Those comps would then likely be more valuable then your house just based on the location. You must understand that location is a major driving force in the value of a home.
Given the good traffic you are receiving I suspect that you may soon receive an offer from a customer who will be trying to buy your home below the comp value. If you are flexible in your price it will sell. If you are steadfast it will sit.
My advice is be flexible and accept the fact that based on location your house is likely worth less than the homes used as comps. Also, ignore the Zestimate. No realtor worth their weight pays any attention to the way they evaluate homes.
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Joan Congilo…, Agent, Freehold, NJ
Sun Nov 17, 2013
There really isn't much you can change if your house backs to a highway. Location is a primary concern for most buyers. you might want to discuss with your Realtor what attracted you to this home when you were buying and redirect your marketing to emphasize those attributes instead of what they are currently doing. Typically homes off or near highways are valued at 10 to 15% below other homes in a community that do not back to a busy road. I hope this is helpful and wish you a speedy sale.
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Shalu Thaman, Agent, Princeton, NJ
Wed Nov 13, 2013
Is the feedback from Eshowings ; ie. are you receiving this feedback from the showing agents ?

Since your home is listed with an agent, the advice regarding marketing and any concerns should be discussed with your listing agent who was hired to sell your home, as per your listing agreement.

As a note ; Zillow and such third party sites that offer estimates, neither have accurate data nor are qualified to offer valuation for properties.

Would a mortgage lender make a loan based on a Zestimate ? Good question to ask a lender ;)

Shalu Thaman
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John Meeker,…, Agent, Jackson, NJ
Mon Nov 11, 2013
There are 14 active in the 400000-450000 range and 5 currently under contract. 10 have closed in the past 3 months.

If it seems like they do not like the Highway, think about adding a privacy fence and some noise deadening trees. If its just the shape, not much you can do.

John Meeker
Keller Williams
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Leonora Lacq…, , Monmouth County, NJ
Mon Nov 11, 2013
Before we get started I would like to know if you have your home currently listed with a realtor.
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Diane Glander, Agent, Spring Lake, NJ
Mon Nov 11, 2013
You cannot change the location.
The market is very slow this time of year.
You are getting plenty of showings, so your marketing must be good.
Being below the Zestimate doesn't mean anything. Read Zillows information on their Zestimates and you will get a better understanding of how they get them.
If you are in comp range, have had all those showings with no offers, it means the buyers still think the house is overpriced. Once you find the number someone is willing to pay for the house, it will sell.
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Andrew Tisel…, Agent, clifton, NJ
Mon Nov 11, 2013

You can only control condition + price and availability to show it. Sounds like you are getting showings so you have some type of marketing working for you.

It may be a timing issue. Are there other similar homes selling in that time frame?
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there are only 13 homes in the 400-450,000 price range in my town. Is there any other types of marketing we are missing. we had a brokers open house and 16 brokers attended. The list price now is what the brokers said I would net. I dont think much has closed in the past 30 days, We have another showing today. That is 3 showings in the last 3 days.
Flag Mon Nov 11, 2013
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