New Jersey real estate is being sold right now in the Mercer and Somerset counties in the Greater Princeton NJ area. Learn the insiders secrets of how to sell your home in this market. What should we do to sell the home now? What are the tips for successful home sale? What are the mistakes to avoid when home buying and selling? Why is my house not selling? Is now the right time to buy or sell our home? If you are a New Jersey real estate seller, these questions are on your mind. If you are thinking of selling in the greater Princeton area, or tried and couldn't sell your home, this article should provide helpful information.
For the people who owned their home for over five years the situation is not as difficult as for those who bought their home in the last two to three years. The answers you will learn in this article applies to home sellers in other towns of Mercer and Somerset counties: Hopewell, Montgomery Township, West Windsor, Lawrenceville and others.
I. Keys to selling the house in the Princeton NJ real estate market
Selling a home is not easy. You could expect to do a lot of work: make the beds, put away dirty laundry, collect kids toys, clear the kitchen mess from last nights dinner, and all of this before you rushed out to work. You need to do it you would be told, because a buyer might walk in any moment. On the weekends -you may have to leave for the day, while the Open House is held. You have a mad cleaning rush, leave the house (some with kids in tow) on a minutes notice, because the buyer may want to see your house in half an hour. You may get a call the buyers couldn't make it after all. There could be times when no one calls, they just don't not show up.
To go through all of this and to get low ball offers or not to sell the house is stressful. But it does not have to be this way.
Lets take a look at the critical issues that you need to nail to sell the house.
1. The first 30 days are key
There is statistical evidence that the best chance of selling the house and for the best price is in the first 30 days. I would be happy to provide the details of this phenomenon. After the 30 days you would battling not only buyers fatigue, but the price decline as well.
2. Pricing right from the start
Houses sell, if priced correctly, even in a weaker Princeton NJ real estate market. The only way to succeed early on is with the Correct Price. Let me tell you what the correct price is NOT:
* Its not what you paid for the house
* Its not what your neighbor sold for 3 months ago
* Its not what you owe to the bank
* Its not what you need to make to buy another house
* Its not what you think is good as a starting price
So, what is this magical correct price, you may ask. The answer is: something that the buyer is willing to pay you TODAY. Most likely its the number that is a bit less than what is offered by your competition. Real estate pricing is both art and science. The only way to arrive at the correct price is by being an expert in local real estate. Even for the experts pricing is not easy and many get it wrong. You may ask why? One reason is that what the buyer is willing to pay today is a moving target and the price today may not be the same price tomorrow.
If you want to sell your Princeton NJ real estate - price it at a Market Price. If you don't want to sell at market price or, don't need to sell, do not put it on the market now, and save yourself a lot of work.
If you are thinking you can reduce the price later, read the next step.
3. Price-reductions are not a good idea
You may think that you could start at a higher price and reduce it later, hoping that the market will improve. Consider the following. When pricing, reducing the price down the line, would not allow you to catch-up. Buyers, who could've been interested, moved on to other properties. Its hard to sustain an emotional connection to the property, which is needed to generate offers, once the property was scratched off the list because of the price.
Reducing the price later in a declining market creates a bigger gap between the sellers and the buyers, to the disadvantage of the seller. In other words, its much harder to catch-up on the correct price, than to do the right price from the beginning.
4. Impeccable Home appearance
The simple way to put it -your house has to shine. No matter what price range you are selling in, the house has to be the absolute best it can be. I am not suggesting moving walls, or embarking on major renovations. Your house just has to be better then the competition. There are many tips everywhere on the Internet, as to what needs to be done before the sale, they are all useful and you should definitely implement them. But let me suggest something else: first -no matter how much you clean and scrub, its hard for anyone to see his or her home through the yes of a stranger. Second - almost every house needs to be "packaged" to sell. Use your real estate agents resources to make it happen. The investment in packaging your product is small compared to the return. New home builders have figured it out long time ago, the re-sale owners need to follow to stay ahead of the competition.
5. Getting the buyers to see your house
If you don't get buyers to your house, you will not receive offers. So, this step is critical.
We know that buyers search on the Internet. It just follows that what they see, should compel them to make an appointment. What they see are usually pictures. The pictures have to be professional to make your house stand out from the rest. Not everyone can take pictures that will make your home look not worth, but better.
The other audience your house has to be pitched to - be other real estate agents. Make sure that they know about your property and that its presented to them in the best possible way. Talk to your agent, about their way of accomplishing this.
6. Marketing that is not useful
Its important to understand how will the buyers find your home. Many agents will tell you about their or their agency web sites. Make it your business to understand how would anyone find your home among thousands that are on these web sites. If you are offered a single property web site, understand how would the buyers find 123Mainstreet.com?
Understand the usefulness of brochures, open houses, print advertising and other marketing that your property is getting. Deal with the agent who understands the intricacies of todays real estate marketing. There is a lot of advice on the Internet, the key is finding the right one.
There are a lot more "secrets" revealed in the Rest Of How to Sell Like A Realtor.
Please contact Faina Sechzer at 609-553-4175 with questions about real estate, homes for sale and/or listing your house to sell, and relocation assistance in Princeton, Montgomery Township, West Windsor, Hopewell, and Lawrenceville New Jersey. Referrals are accepted.
If you are moving out of the greater Princeton area, please inquire about the countrywide relocation program.
Copyright 2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.