Posted by
admin on Sep 30, 2007 in
Finances,
Marketplace,
Real Estate,
Selling The answer, in a nutshell, is NO! We’ve written other blogs pertaining to home pricing and what we wrote then still hold true today. We’ve also written a blog advising how buyers can get their homes at the right price.
Many sellers say that they want to price their home at a higher price because “I want to leave in some negotiation room in my price.” We have the statistical evidence that these homes end up either expiring or the sellers withdraw them from the market. We track the housing market in the areas that we do market homes. As an example, in Winslow Township we have statistics that show the market activity for June 2007 and August 2007 (we missed out on July 2007…sorry).
Statistically, it is important to price the home right…if you want it sold. Why is this important? Because you want to price the home where buyers are looking. If you price right, actually you don’t have to come down at all. Many of the houses in our market area are selling for close (approx 98%) to the asking price. In addition, some are selling without the seller providing any closing costs as well (32 out of 55 that settled in Winslow Township in August, settled without any seller consessions). These 32 houses belong to sellers who dared to meet the buyers in the market instead of hoping the buyers would come up out of the market to make an offer.
So, forget nudge room, fudge factor, and room for negotiation; put the house on the market at a right price and then hold the line. If a buyer wants closing costs then you can negotiate upward.
With all of this said and done, this is exactly what we do for our clients…price their homes to sell. We don’t collect listings for the sake of having listings. The homes we market…SELL. We offer a free home evaluation. If you’re thinking about selling your home, give us a call and we’ll be more then happy to stop by and give you your free home evaluation.
Tags: free home evaluation, homes for sale, Marketplace, pricing, Real Estate
The following is the latest update as to the housing market activity in Blackwood NJ, a community/neighborhood within Gloucester Township NJ. That is one of the many things that we do for our customers, analyse the market and letting them know what is happening in their market area. So, the following is the most current data we have for Blackwood from August 2007:
For the month of August 2007 -
- Properties Being Marketed – 30
- Average asking price – $226,329
- Average Days on the Market – 89 days
- Properties that Settled in August – 10
- Average sold price – $213,730 (98.14% of average asking price)
- Average number of bedrooms – 3.5, average number of baths – 1.35
- Average Days on the Market – 63 days
- Numer that sold with Seller Concessions – 2 (where seller gave some amount of net proceeds back to buyer toward buyer’s closing/settlement costs)
- Number that sold without Seller Concessions – 8
- Properties that Expired (Not Sold and Listing Agreement ended) in August – 35
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025 or go to http://www.i-teamhomes.com/Home_Evaluation/page_1746021.html
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. “Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/
If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.
Tags: blackwood, camden county, housing market, Marketplace, Real Estate
The following is the latest update as to the housing market activity in Winslow Township NJ, including the areas of Sicklerville and Cedarbrook. That is one of the many things that we do for our customers, analyse the market and letting them know what is happening in their market area. So, the following is the most current data we have for Winslow Township from August 2007:
For the month of August 2007 -
- Properties Being Marketed - 133
- Average asking price – $247,067
- Average Days on the Market - 45 days
- Properties that Settled in August – 55
- Average sold price – $201,553 (97.8% of average asking price)
- Average number of bedrooms – 3, average number of baths – 1.7
- Average Days on the Market – 69 days
- Numer that sold with Seller Concessions – 23 (where seller gave some amount of net proceeds back to buyer toward buyer’s closing/settlement costs)
- Number that sold without Seller Concessions – 32
- Properties that Expired (Not Sold and Listing Agreement ended) in August – 12
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025 or go to http://www.i-teamhomes.com/Home_Evaluation/page_1746021.html
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. ”Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
- If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
- If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/
If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.
Tags: august, camden county, home inventories, Marketplace, Real Estate, seller information, winslow township
Posted by
admin on Sep 19, 2007 in
Finances,
Mortgages,
Real Estate In a much anticipated move, the Federal Reserve lowered is prime interest rate by a full half of a percent to 4.75%. The move was the Fed’s first rate reduction of any kind in four years, the steepest in nearly five years and its most abrupt reversal of course since January 2001, when policy makers sharply cut rates at an unscheduled emergency meeting just before the last recession. For consumers, the Fed’s move could mean lower borrowing costs for mortgages and automobile loans. With home prices down and lower interest rates, the Fed is hoping that home sales return to a normal pace to help stabilize the economy. Much of our economy is driven by the housing market. When housing slows, so does the economy.
A large majority of home buyers are under the misconception that there is no mortgage money for them to buy a home. That is not true. There is plenty of money for people looking to buy homes using standard mortgages, like FHA, VA or Conventional loans. If a home buyer is looking to buy a home and is financing less than $471,000, if they can document their incomes and have fair credit, they can buy a house today. It is the sub-prime borrowers that are having a hard time finding financing. The days of financing 106% of the purchase price, with a 1.5% teaser rate and not providing any income documentation are gone.
In the last 6 months, we have seen the majority of home sellers drop their asking price, which is a good thing. We have also seen many sellers just give up and take their homes off the market for good, stating that they are not going to give their homes away; they will just stay where they are for a few more years.
What does all this mean for the average home buyer? – Lower mortgage payments. Home prices are down, sellers are helping with closing costs, interest rates are historically low and there is an abundance of houses on the market. Buyers who come out in this market will be able to take advantage of the new market conditions. Those buyers who wait until Spring could find home prices are back on the rise again.
Tags: Buyer Information, buyers, buying a home, camden county, gloucester county, mortgages
Posted by
admin on Sep 19, 2007 in
Buying,
Finances,
Marketplace,
Mortgages In a much anticipated move, the Federal Reserve lowered is prime interest rate by a full half of a percent to 4.75%. The move was the Fed’s first rate reduction of any kind in four years, the steepest in nearly five years and its most abrupt reversal of course since January 2001, when policy makers sharply cut rates at an unscheduled emergency meeting just before the last recession. For consumers, the Fed’s move could mean lower borrowing costs for mortgages and automobile loans. With home prices down and lower interest rates, the Fed is hoping that home sales return to a normal pace to help stabilize the economy. Much of our economy is driven by the housing market. When housing slows, so does the economy.
A large majority of home buyers are under the misconception that there is no mortgage money for them to buy a home. That is not true. There is plenty of money for people looking to buy homes using standard mortgages, like FHA, VA or Conventional loans. If a home buyer is looking to buy a home and is financing less than $471,000, if they can document their incomes and have fair credit, they can buy a house today. It is the sub-prime borrowers that are having a hard time finding financing. The days of financing 106% of the purchase price, with a 1.5% teaser rate and not providing any income documentation are gone.
In the last 6 months, we have seen the majority of home sellers drop their asking price, which is a good thing. We have also seen many sellers just give up and take their homes off the market for good, stating that they are not going to give their homes away; they will just stay where they are for a few more years.
What does all this mean for the average home buyer? – Lower mortgage payments. Home prices are down, sellers are helping with closing costs, interest rates are historically low and there is an abundance of houses on the market. Buyers who come out in this market will be able to take advantage of the new market conditions. Those buyers who wait until Spring could find home prices are back on the rise again.
Tags: Buyer Information, buyers, buying a home, camden county, gloucester county, mortgages
Posted by
admin on Sep 2, 2007 in
Marketplace,
home inventories Now could not be a better time to buy a house. Interest rates are at nearly historic lows, home prices down and home inventories at record highs. All of this translates into the best BUYERS MARKET in 50 years. Not since the mid-1950’s has the home buying market been this good for the home buyer.
That being said, many buyers seem to be sitting on the fence waiting to something to happen in the market before they make a move to buy a house. Well, it has already happened. The feds are starting to help home owner who were victims of predatory loans save their homes. The interest rates are soon to drop again, allowing for lower monthly payments to home buyers. And the FHA has streamlined their processes to allow for faster mortgage approvals.
With the resurgence of the old standard for many home buyers: the FHA Mortgage, the home buying market will begin to return to a more normal market. FHA loans are insured loans, so lenders are more willing to lend money to an FHA buyer because the lender will not lose money as they did in the sub-prime market. These new FHA loans will help mortgage companies continue to write mortgages.
FHA requires a lower down-payment; as low as 2.25% and will allow for down payments to be a gift from family or a non-profit organizations and will allow the seller to assist with closing costs.
In this market, many homeowners are helping the buyers with closing costs to make the sale. Pluse, if you have a few dings on your credit, an FHA loan is the way to go.
All the economic indicators are predicting a upsurge in home sales in Spring of ‘08 and a return to normal in early ‘09. When that happens, prices too will return normal, sellers will be less willing to help with closing costs and many buyers who waited on the fence, will be out of the market again.
If you have been on the fence about buying a home, now is the time to start the process. There are many great homes that went unsold during the summer and are waiting for you. Autumn has always been a great time to negotiate for a great home.
If you are getting off the fence, contact us now, so we can get started and you could be in your new home for the holidays.
Linda – 609-417-1084
Terry – 609-417-1086
Tags: Buyer Information, Buyer Information; Finances; mortgages; Real Estate, camden county, cumberland county, gloucester county, home inventories, new jersey, pricing, Real Estate
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