what is my house worth in the current market?

Asked by Melissa Truitt, 07869 Thu Jun 24, 2010

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16
Tish Lloyd, Agent, Wilmington, NC
Thu Jun 24, 2010
Contact several local, full-time professional Real Estate Agents in your marketplace & ask for a complementary CMA (Comparative Market Analysis). It is very difficult for anyone to give you a recommended value range without first, previewing the property and obtaining pertinent information specific to your property.

Ensure you obtain a full CMA based upon the cold, hard facts. You may or may not like what you hear. Look for a strong, aggressive marketing plan you are comfortable with implementing. Be fully informed and align yourself with an Agent who understands your goals.
2 votes
Joan Braunsc…, , Morris County, NJ
Thu Jun 24, 2010
Melissa,
This really isn't the forum for your question to be answered. Frankly it only attracts agents who want your business (it IS the nature of our business) and really it should be the other way around: you seek agents who you feel comfortable dealing with.
You can't depend on anything being done online as being particularly accurate because obviously your home needs to be seen in person.
Good luck with whatever you decide to do.
1 vote
Antje (Angie)…, Agent, Morris Plains, NJ
Fri Nov 9, 2012
Pricing your home requires a room by room evaluation which can only be done by visiting your home and carefully documenting all the upgrades that have been done and then comparing your home to the homes that have SOLD in your neighborhood. Selecting the right agent is key in marketing your home to get you the most money in the shortest period of time.

Interviewing 3 agents will help you get a better understand as to what your home could sell for.

Please feel free to call me directly with any questions.

Sincerely,
Antje (Angie) Virostek
Real Estate Consultant
Weichert Realtors
0 votes
Murray Plish…, , Parsippany, NJ
Sat Oct 30, 2010
Melissa,
A nearly impossible question to answer on line!
I would be happy to do some searching for you and come up with a general number if I knew the details of the house: address, bed rooms baths, garages, basement, year built etc.
Obviously, without actually seeing the house, no one can give you a decent answer.
Call a few realtors for a Market Analysis, and let them see the house.
I'd be happy to assist. Contact me
Murph Plishtin
Web Reference:  http://www.murphplishtin.com
0 votes
Connie Greene, Agent, Orlando, FL
Fri Oct 29, 2010
Melissa, in today's market only a buyer can dictate what your house is worth by what he's willing to pay for the home. You can have a CMA done to give you an idea and gage the value by what recently sold,but your need a Realtor with and aggressive marketing plan to help sell the home in today's market. CMA is the best place to start.
0 votes
Lisa Peluso, Agent, Succasunna, NJ
Thu Sep 23, 2010
You need a Complimentary Market Analysis I am in your area and I would love the opportunity to do one for you. I am With Re/Max First Choice Realtors right in Roxbury. I can be reached at 201-874-1287
0 votes
Cindy Mansey, Agent, Randolph, NJ
Thu Jun 24, 2010
Every home is different. Be best for me to take a look at it. Send me your phone number and we can set a time for me to stop by. Thanks,
Cindy Mansey
201-400-9242
0 votes
, ,
Thu Jun 24, 2010
Hi Melissa,

You have recieved a lot of good answers here so far.
The market is very different than it used to be, and yes values are still declining. But as stated here earlier, the good values do sell. Everyone needs to see that they are getting a good value for their money today.
A proper analysis of your home taking into consideration you location, condition and a few other factors..will determine what you home should be marketed at.
Good representation is important today in this tough atmosphere with buyers, banks etc.
Let me knw if I can assist you in any way with further guidance.

Kind regards,
Dave Wainwright, Jr.
0 votes
Jerry Barker, Agent, Atlantic City, NJ
Thu Jun 24, 2010
It's only worth what somebody else is willing to pay for it. You can have a Realtor do a CMA for you or even hire an appraiser to come give you a value. If you dont want to spend any money you check out sites like http://www.eppraisal.com just for fun to see what they think the property is worth. You can try to time the market all you want, but my personal opinion is that real estate values may decline for the next ten years, sharply at first and slower towards the end. My one year outlook is published online in the Business Finance section at suite 101 you can view it here: http://flipping-real-estate.suite101.com/article.cfm/2010_re…

I also have my ten year outlook published there as well and you can view it here:
http://mortgagesloans.suite101.com/article.cfm/foreclosures-…
Web Reference:  http://www.sjrates.com
0 votes
Marc Paolella, Agent, Succasunna, NJ
Thu Jun 24, 2010
Hi Melissa,

I did a quick analysis, but I do need more data, especially upgrades and basement finish, if any. Assuming the basement is unfinished, and assuming the house is in really nice shape (well maintained, nice granite kitchen, etc.), and assuming you have not added anything huge (like an inground pool for example), you are probably looking at a price in the mid $600s plus or minus. A finished basement and lots of upgrades would push you into the upper $600's to around $700. If the house is a little rough around the edges, you would drop to the lower $600's. If it's really tired, even upper $500's.

But in all likelihood mid $600's plus or minus. if you would like the accuracy of this to improve dramatically, contact me privately and I will do a detailed market analysis and basic forecast of what you can expect in terms of price, marketing time, etc.

Good luck again!

-Marc

Marc Paolella
Relocation Director
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes
Gordon Crawf…, Agent, Morristown, NJ
Thu Jun 24, 2010
Melissa,

Hi, my name is Gordon Crawford and sell real estate in the Randolph area. I have done a preliminary CMA on your home and would be happy to share that report. Rather than post it here I would prefer to email it to you. Randolph is still a very desirable community and sales are good, Prices continue to come down, but the best values sell. I would be delighted to sit down and talk with you about your home.

Gordon Crawford
(973) 714-3085
0 votes
Robert Stern, Agent, Livingston, NJ
Thu Jun 24, 2010
Melissa,

All Agreed here too. You need for a few realtors to come in and show you the situation. The first thing that is needed is that you should show the house to the realtors. We need to see it, see what improvements have been made and even take some pictures and measurements. so that when we go back to do our research we can compare the right way.

I always take a couple of days and look at the market very intensely.

The question you are asking is a very general question. The market is unstable right now with patches of good areas and patches of bad areas.

If there are any questions please feel free to contact me ,or any of the realtors here.

Thanks for asking,

Robert C Stern
Weichert Realtors
http://www.robertcstern.com
0 votes
Marc Paolella, Agent, Succasunna, NJ
Thu Jun 24, 2010
Hi Melissa,

Of course it would be best to see the home in person and I'd be happy to do that if you like. However, if you want a preliminary market analysis, e-mail me an idea of what the house is like on the interior (upgrades, basement finish, etc.) and I'll e-mail you a basic report.

Good luck!

-Marc

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes
Denise Guet…, Agent, Chester, NJ
Thu Jun 24, 2010
Hi Melissa,

I agree with everyone so far. Without knowing the specifics of your home it would be hard to say. Have a few different agents in to give you a free "comparative market analysis" . In addition most agent will give you pointers as to tips to get you the most money for your home. There are many more homes on the market than buyers and yes competition is fierce. Pristine homes that are priced right are selling in all price ranges. Buyers shop by comparison, so maybe take a look at some other homes in your area that are similar to yours. I think it is always a good idea to know your competition. I would love to assist you if you need.

Good Luck

Denise Gueterman Weichert Realtors 142 Main Street Chester, NJ 07930
908-879-7010 Office 908-303-2472 cell denisegueterman@hotmail.com EMail
0 votes
Joan Braunsc…, , Morris County, NJ
Thu Jun 24, 2010
FYI, I just checked on the GSMLS and it shows currently 166 houses active on the market in Randolph.
0 votes
Joan Braunsc…, , Morris County, NJ
Thu Jun 24, 2010
Melissa,
Follow Tish's advice. Obviously your question can't be answered without any more information from you and specifically regarding your house.
Randolph has been hit by the declining market just like (almost) everywhere else.
There is a lot of inventory, too few buyers and competition is fierce.
0 votes
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