looking forward to spring but worried...

Asked by Out and About, New Jersey Thu Nov 15, 2012

what is the market for $1M homes? i know that homes are selling in marlboro but the market is hot for $400K -$600K homes. my fear is even if my house is priced right, it still won't sell because people are not interested in large expensive homes any more. any insight?

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John Sacktig, Agent, New Jersey, NJ
Thu Nov 15, 2012

I have had three listings that were over 1 million, 2 sold and the other has constant interest.

Yes, the last 1.5 years has been tough on the luxury market, but that has changed this past spring and summer. My office is located in Freehold Boro, we are close. I would like to view the property and prepare a market analysis and discuss marketing and sale potential. You need to speak with an agent that understands the luxury home market.

Give a call or email and we can discuss the options that are available to you.

John Sacktig
Broker / Manager
Orange Key Realty
Direct: 732-213-1409
2 votes
Out and About, Home Seller, New Jersey
Tue Nov 20, 2012
thank you all for your insight regarding the upcoming 2013 real estate market.
i do have a broker in my area that will most likely get my listing when i am ready to sell. and i am definitely marketing my house in the Spring. i just wanted to prepare myself for the worse, which to me would be having my home not sell quickly or to sell under $1 M
my house truly is a million dollar home and not just in my eyes, but i did have several appraisals, one this past summer and it came in over that and over the years for refinancing purposes it has always came in over $1M.
0 votes
NYC Bound, hope I was able to shed some light for you. Best of luck in the Spring. Is your home in Marlboro? Are you aware of the intricacies of pricing your home around the $1 million tag, and the "mansion" tax?

DJ Ten Hoeve
Keller Williams West Monmouth
201-315-9157 (mobile)
Flag Tue Nov 20, 2012
Jerry Barker, Agent, Atlantic City, NJ
Sat Nov 17, 2012
Your fears are certainly valid. Property values all over the country are doing well with the Northeast being the only exception to the rule. Hows that for bad luck. Your also correct about the lack of interest in large homes due to increased cost of living, higher taxes, higher energy cost, and the number of people fleeing NJ for better places to live. Good Luck with selling your home, in cases like yours, finding the absolute best real estate agent in your area can be paramount. If you like I can do some research and find out who that would be for you. Feel free to reach out to me for some free assistance.
0 votes
Jerry, obviously not in tune with the area and fishing to get a referral lead. But, how good would that lead be without knowing the local market? your response is highlighted when stated, "finding the absolute best real estate agent in your area can be paramount"

Exactly. So, why would anyone contact an agent in Atlantic City that obviously has no idea what is happening in the area the homeowner wants to sell..? Funny stuff.
Flag Sat Nov 17, 2012
Steven Porzio, Agent, Holmdel, NJ
Fri Nov 16, 2012
The market is getting better, in fact 2012 has been a great year in real estate. From everything I have read, and seminars I have been too, 2013 will even be better. If you need any additional information, please let me know.

Steve Porzio
Coldwell Banker/Holmdel
732 691 1668
0 votes
Joan Congilo…, Agent, Freehold, NJ
Fri Nov 16, 2012
Hi NYC Bound
There is always a market for high end homes especially in the Marlboro/Morganville area. Like any other town luxury home buyers base their decision on location, square footage, amenities & condition. The higher the price the greater their expectations. This year there have been more than 15 homes that have sold for a million plus. If your home is truly in that caliber there really is no need to worry. If you need assistance feel free to contact me.

Joan Congilose CRS, GRI, e-Pro
Broker/ Sales Representative
RE/MAX Central
(732) 972-1000 x 364
(732) 232-5277
0 votes
Helene Jeane…, Agent, Metuchen, NJ
Thu Nov 15, 2012
There is ALWAYS a market for homes that are priced to sell and where the buyer sees value and that's true of $400K homes and 1M+ homes. Luxury homes do need special care and marketing and you do have a smaller buyer pool which is why you need to have an agent who thinks creatively and strategically. Don't settle for "same 'ol, same 'ol." It's no fun to have your home sit on the market for a year. I wish you success in finding the "right" agent for you!
0 votes
JulieAnn King, Agent, Manalapan, NJ
Thu Nov 15, 2012
Hi NYC Bound

There have been 15 closed sales in the last 6 months, in Marlboro between 960,000 and 1,600,0000.
Marlboro is a desirable address and if you price right and stage to sell you should be fine. If you want to send me your email address, I will send you comps so you can check out the market for yourself.
0 votes
Lorraine Kol…, Agent, Bradley Beach, NJ
Thu Nov 15, 2012
Hello NYC bound,
If you are not already working with a realtor, my real estate partner and I will be more than happy to give you a REALISTIC, no obligation, idea of what your home is worth. There are plenty of buyers out there for well priced properties.

Good luck on your move,
Lorraine Koleda, Realtor Salesperson
Jack Green Realty
0 votes
Nici & DJ Ten…, Agent, Colts Neck, NJ
Thu Nov 15, 2012
Very intriguing question, but in my opinion, no. I am a REALTOR in Colts Neck dealing with luxury homes from Spring Lake to Holmdel and the appetite for these homes has increased over the past 12 months dramatically. When a home is priced well comparative to the rest of the market you still have multiple buyers coming to the table. Traditional pice it high and wait for a buyer, then reduce and repeat just begets stagnant homes that don't sell. While their is an increased demand for smaller homes closer to a downtown and main steer, like Red Bank, families with money have gotten use to space and the desire is still there. Give me a call. Regardless of your motives I'd love to talk through this idea with you a bit more.
Web Reference:  Http://www.djtenhoeve.com
0 votes
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