Selling your Margate, Ventnor or Longport home can be a long and emotional process. No kidding. The hardest part? Deciding how much their home is worth. What should the asking price be? While the sentimental value of one’s home may be high, it’s best to remember that both sellers and real estate agents have limited control over the market price of a property.
Pricing your Margate, Ventor or Longport Home.
Price your oceanfront home too high? It’ll take a lot longer to sell. When priced correctly, your property should generate a steady amount of interest from home buyers and their agents. Compare Jersey Shore home values here.
The longer your home stays on the market, the greater the chance that buyers will think something is wrong with it. If this happens, they’ll either skip your property altogether, or offer less than asking price. The infamous low-ball offer.
Overpriced homes often end up selling for less.
March 2018 Market Update for Ventnor, NJ. Sponsored by Apex Prime Realty.
When overpriced homes do eventually sell, it’s because the owner has resorted to drastically dropping the price. The longer a home sits on the market, the less interest it’ll generate from buyers over time. If too much time passes, the seller usually ends up selling their house for less.
Attracting the wrong kind of real estate agent. If a particular agent is willing to list your property at a price much higher than others have recommended, chances are that agent is just looking to please you…. and get your listing. Some agents will agree to list your house for a price that’s too high because it’ll benefit THEM in the long run, not you.
Beware of Real Estate agents that over-value your Jersey shore home.
Overprice your house, and it will sit on the market for an extended period. Eventually, you’ll be forced to start cutting your price. Some buyers will see this as a weakness. Desperation.
Some agents use this technique to attract sellers. Even if your house doesn’t sell, the agent gets free advertising. Their sign is in your yard for six months or more.
Strategic Real Estate pricing. People tend to search for vacation homes within certain price ranges. For example, if you’re tempted to list your house at $715,000, it’s often better to round that number down to $695,000. If your house is already priced right, more offers will come in. You’ll also be able to negotiate a better deal.
Buyers may not qualify for a mortgage.
Homes are appraised prior to a buyer receiving a mortgage. Banks can turn down a mortgage if the listed price of the home is significantly greater than the appraised value of the home. If that happens, the sale will struggle to move forward.
How to price your Downbeach home.
Look at similar properties in the area. Compare Jersey Shore home values here. Homes sold that are similar to yours in terms of size, location and condition. See how these houses are currently priced. How much they have sold for in the recent past?
- Sponsored by Sherri Lilienfeld & Apex Prime Realty.
- Vacation Home Sales. Margate, Ventnor & Longport.
- 6601 Ventnor Ave, Suite G3 Ventnor, NJ.
- Apex Prime Realty Office: (609) 487-9996