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Yikes, Glad I got out when I did!! I would probably still be on the Market.
As it was the Market took a flop from 05 to 06 in NJ. In 05 my subdivision was selling in a week, in 06 mine was the only one that sold, of the 3 on the market. Those sold in 07 for less than what I received.
I bought in 1992, so did well.
Our Howell, NJ house has been on the market for 2 weeks with not one person to come see it! We went from 650 to 635. this week for the asking price.
Bought it for 675,000 in 12/06...
How low are we expected to go in this market? The house is awesome and was a new construction. Not a cookie cutter house. Custom 3650 sq ft home.
Sucks the amount of $ we will lose!
Thanks!
Price drop after only being on the market for 2 weeks? At that rate, you'll be in the 400's before your contract is up with your realtor! Hang in there... "your" buyer is out there. What do the comps says for your area? Are you priced accordingly?
Yikes, Glad I got out when I did!! I would probably still be on the Market.
As it was the Market took a flop from 05 to 06 in NJ. In 05 my subdivision was selling in a week, in 06 mine was the only one that sold, of the 3 on the market. Those sold in 07 for less than what I received.
I bought in 1992, so did well.
Diane G
I'm doing some work on a vacant house...lake front home - people moved out of state 2 yrs. ago... the house was originally listed at 725K.... it's now down to 425K . Lakefront in NJ for under 1/2 million???? I would have never thought that that was possible in NJ - especially for a house this size! May be time to move back Dee
Price drop after only being on the market for 2 weeks? At that rate, you'll be in the 400's before your contract is up with your realtor! Hang in there... "your" buyer is out there. What do the comps says for your area? Are you priced accordingly?
wiley...i love ya and all, but "hang in there, your buyer is out there" is not a strategy!!!
the fact that she's had zero lookers during the busiest selling time of the year screams that her house is overpriced.
"Awesome and new construction in 06" have nothing to do with today's market value.
Unfortunately you bought near the peak of the credit bubble/real estate market. Start at least 15% off 2006 pricing to show prospective buyers that you are somewhat sincere in wanting to sell and prepare to be "lowballed" from there.
I know that awesome has nothing to do with anything unfortunately.
We bought at peak but we were also able to sell our old house for double of what we bought it for in 1998 ! So, that was a positive- I guess it all equals out somehow???
I know that awesome has nothing to do with anything unfortunately.
We bought at peak but we were also able to sell our old house for double of what we bought it for in 1998 ! So, that was a positive- I guess it all equals out somehow???
Yes it does. My wife often complains that we bought in 2007 and could have bought our house for much less if we'd waited until now. I calmly remind her that we wouldn't have made the $$ we made on the sale of our old house if we'd held on to it for two more years.
I'm doing some work on a vacant house...lake front home - people moved out of state 2 yrs. ago... the house was originally listed at 725K.... it's now down to 425K . Lakefront in NJ for under 1/2 million???? I would have never thought that that was possible in NJ - especially for a house this size! May be time to move back Dee
If your doing work on it, then that is a Problem I never want to see ever again. I know what knd of work you do. Is it possible that is why that house has been sitting there?
I'll stay exactly where I am. I love it here!
What town? That's important. On average, the latest data would suggest you're looking about 16% decrease in price from June 2006.
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. Lakefront in NJ for under 1/2 million???? I would have never thought that that was possible in NJ - especially for a house this size! May be time to move back Dee 
Re : Selling NJ House Purchased in 06... How much depreciation?
