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Be Realistic About Your Home's Value

By
Services for Real Estate Pros

There are a lot of factors that go into selling your home - beyond the traditional financial factors, there are emotional and psychological factors that play into a buyer's decision to move into your home.

Buyers today are more attracted to homes that are "move-in" or "turn-key" ready. It is true that some properties are sold ‘as-is' or as fixer-uppers. As a general rule, however, buyers like to see a well-maintained home. Even small details like paint can make your home more or less appealing based on the color and condition of it. Clean, neutral décor is considered best when selling your home.

Be cautious not to oversell the improvements or overstate the condition of your home.  Let there be an element of surprise by the condition and quality of the home that the buyer will enjoy. It's better to excite the buyers then to disappoint them.

After having worked with hundreds of relocating buyers one needs to know that out-of-state buyers (especially relocating from pricier areas) generally pay more for a home then local buyers, several factors come into play such as value perception, taxes, motivation to move quickly and company assistance.  Thanks to a robust economy, New Jersey typically sees home values higher than the national average. While in some Midwestern states, a stately custom colonial might sell for $200,000- while the same home in New Jersey costs two to four times as much depending on its location and condition. Our robust economy offsets this in part thanks to our per capita income which is consistently ranked among the top 10 nationwide.

Finally, be realistic about your home's value. Prices have declined over the past several years and until the economy (including employment) improves it is likely to remain soft. Each area is dependent on its local economy and inventory. Generally speaking I have seen the communities with highly rated school districts and commuter friendly access to nearby metropolitan areas like New York demand a better value then those that are not.