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New Jersey Real Estate Information
Homes that are priced right are still selling fairly quickly,
according to a New Jersey home inspector.
Drive around
your neighborhood and you will see more real estate "FOR SALE" signs than
you have for quite some time.
Home sellers are finding fewer buyers are looking for homes and homes are
taking longer to sell. Home sellers who say there are no buyers are
missing the point, there are plenty of real estate buyers looking for homes that are
priced right.
Real estate that is priced right are still selling fairly quickly, according to
Michael Del Greco, President of Accurate Inspections, Inc. based in West
Paterson, NJ.
Del Greco compares the real estate market to any other. If something is
perceived to be worth a dollar and you sell it for ten cents there are
always buyers, ask a dollar ten for it and there will be fewer buyers.
Many real estate sellers are discovering the near vertical price rise of real
estate in the past decade is no longer occurring. There have been few slow
downs in real estate price rises over the past decade but none where sale
prices have fallen, that is changing.
For years homeowner's have set a price on a property and waited for buyers
to beat down the door, frequently offering over asking price. That is not
happening much any more.
When real estate was a sellers market buyers had little choice but to ignore
cosmetic defects. After a home inspection sellers were able to tell buyers
they were not fixing anything and if the buyer did not buy the home there
were plenty of back up buyers. Neither of these are holding true at the
moment.
What is a seller who wants their real estate to sell faster to do?
First be realistic about the asking price, home buyers do not care how
much seller's" have to get" for the home. Buyers care how the
price of the home compares to recent sales, not the highest sale.
Second, it is time to clean the house, paint it and to fix all the
cosmetic defects. Since fewer buyers may be coming to see your home each
one is more valuable. You can't afford to turn off any buyer.
Third, fix what is broken. You might have gotten used to the problems in
the home, however buyers may take them as a sign of neglect and just move
onto the next home. Use a home inspection checklist like the one located
at http://accurateinspections.com/homeinspectionchecklist.htm
Nearly all home buyers will hire a home inspector. It is very likely
problems will be found and buyers will look to you to cure them. In
today's market it is likely you will have to fix many of the problems
anyway. Why not beat buyers to the punch and hire a home inspector to make
you aware of what needs repair or replacement? Doing so, may make it more
likely that the offer you waited so long for, results in a contract that
goes through and help you reach your ultimate goal - the sale of your
home.
The above was written by real estate & home inspector Michael Del Greco, President of
Accurate Inspections, Inc, West Paterson, NJ
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