I own a 2nd home(mortgaged)in WNY.How much can I realistically expect to sell it for NOW,&what do current selling times frames look like?

Asked by Rustysneakers, West New York, NJ Wed May 11, 2011

Home is Solid Brick-2-fam. Built near 1910..it's in -WNY- on 60th st.- about 2blx W.of B'lin towards Kennedy Blvd.I estimate Lot size to be approx.35x100 (back yard is unusually LONG w/grass&Lg.raised cement/slate patio. Upstairs has: 3br/EIK/DR/LR/full Bath...Downstairs is same minus 1BR.Basement has "trap" door to street, windows, and door to yard.Bsmt is rough but does have a 1/2 Bth, A kitchen once existed so lines exist for gas stove,sink,all electric etc. A working gas dryer &washing machine exists. There are separate elec. meters for apts./ heat bill is"split". Double foyer/hall has a Huge skylight.- no parking/or garage.. Please let me know your realistic (but fair) opinion, I fear I may suffer a huge loss which could dramatically alter my future... Thanks all...

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Pedro Gonzal…, Agent, NORTH BERGEN, NJ
Thu Nov 29, 2012
Even in today's market, I have seen that homes that are desirable and priced well, sell right away. So it sounds like you have a 2 fam (3 bed, and 2 bed) between Bergenline Ave and Kennedy Blvd...This location is super convenient to to NYC public transportation, you have a couple of bus lines that go directly to Port Authority on both Kennedy and Bergenline, as well as the light rail station on Kennedy and 49th street. If you're concerned about taking a loss if you sell, don't sell. Rent it out instead if you can afford it. My mom owns a place on 70th and Kennedy Blvd, put one of her units up for rent and got it rented in less than 1/2 day. I'll like to see your home, and make some recommendations at no cost to you. Contact me at (201) 927-6054 or pgonzal_2000@yahoo.com. Good luck to you...Pedro.
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Brian Kim, Agent, Edgewater, NJ
Sun May 15, 2011
Market value is determined only after a trained eye assesses the condition of your property as well as any pros and cons of the property that may affect the value compared to similar homes in the area. West ny is a part of my territory. You can contact me if you want a market analysis.

As far as time on the market, you want to price your home to sell well below the average time on the market. The worse thing you can do is to overprice your home and gradually bring down the price overtime to eventually reach the correct market price only for a buyer to ask the most common question and the first question asked by a buyer when viewing a home. "how long has this home been on the market?". It's extremely easy to put doubt into a buyers mind even at a fair market value.

Reach out to me if you want to further discuss your property and guidance to make the right financial decisions.

Brian Kim
Broker associate
Remax competitive edge
177 Washington valley road
Warren nj 07059
Cell (732) 887-9659
0 votes
Gerard Carney, Agent, Spring Hill, FL
Wed May 11, 2011
Rusty Ask a Local Realtor if you want a CMA, please don't ask that here. It is always best to have an agent sit down with you and talk about what the market value is for the property you wish to sell. CMAs are usually free.
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