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Old 08-18-2007, 12:56 PM
 
Location: Middlesex Nj
26 posts, read 153,093 times
Reputation: 33

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The Days On Market Is Rising, homes all over nj seems to be sitting. I am wondering should we be selling our homes in nj now?

Or ride out this bubble crazyness. I have had success selling two of my investment properties in Nj at a great profit. I wonder should I hold on. Or Sell Now.

I know it is a great time to buy as I picked up a few good investment property in jersey city as well as multi family in trenton. So buying has been easy...Alot of good foreclosure buys.

It's the selling part that is tough, although it is easier for me because I have good marketing skills. Have anybody been selling In Nj lately?
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Old 08-18-2007, 05:05 PM
 
11 posts, read 52,431 times
Reputation: 10
my sister just listed a house for 260,000 in south jersey. she has a couple of people very interested in it. the house just went on the market so we'll see how it goes. 260,000 for a house in these times is really a great price!
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Old 08-18-2007, 08:03 PM
 
94 posts, read 299,334 times
Reputation: 23
dvalred
where is ur sister located? i am also selling in s. jersey just wondering how she is doing at that price?
Thanks
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Old 08-19-2007, 12:36 AM
 
Location: Bridgewater, NJ
116 posts, read 460,191 times
Reputation: 31
The market is very regional.....sometimes by town, sometimes by county. Somerset County listings has diminshed tremendously since May. May was the best month for sales in the last 3 years. I live in a huge townhouse development, where there are usually tons of listings. There are so few right now.
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Old 08-19-2007, 07:01 AM
 
204 posts, read 675,036 times
Reputation: 107
Realtor in Ocean Co. told my friend, who has her house listed, that only 1 in 40 homes is selling. She's been listed for over 6 weeks-not one showing, Open House-no one. It's bad all over RE-wise.
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Old 08-19-2007, 10:50 AM
 
Location: Bridgewater, NJ
116 posts, read 460,191 times
Reputation: 31
If your friend hasn't had ANYONE look at the house in 6 weeks, the house must be overpriced.
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Old 08-19-2007, 01:40 PM
 
5,544 posts, read 12,018,766 times
Reputation: 8505
August is usually not a busy month for real estate. I spoke with an agent today who felt the market in Morris hasn't had a large drop and feels those areas experiencing slowdowns are caused by the media headlines of the sky falling and people are sitting tight.
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Old 08-19-2007, 02:17 PM
 
Location: Central New Jersey
1,289 posts, read 5,271,847 times
Reputation: 291
If you are REALLY willing to work with your realtor then you should be fine but if you do not like the idea of cutting your price possibly a few times and paying a GOOD commission then do not list.
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Old 08-19-2007, 02:35 PM
 
Location: NJ
12,284 posts, read 29,594,137 times
Reputation: 5166
Quote:
Originally Posted by DodgeViper01 View Post
If you are REALLY willing to work with your realtor then you should be fine but if you do not like the idea of cutting your price possibly a few times and paying a GOOD commission then do not list.

and this, i believe, is the truth. if i were to list my house today and needed to move it, i'd list $50K below the lowest comparable houses in my area, and nearly $100K less than what the house next door sold for 9 months ago.
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