It's true! Just like the rest of the country, we are dealing with “pocket markets.” The media portrays the entire country as if every town in every state is faced with a real estate recession. It’s just not true! I say don’t listen to the national media but instead listen to your local real estate experts like myself and the many other Realtors in our area.

Some areas of New Jersey are selling better than others. Factors include the commute to New York, lower taxes, size and condition of homes, school quality etc. For example towns like Summit and Westfield are still hot, so is South Brunswick while other areas are abundant with inventory.

It just depends on where you are located. There’s that word again – Location, Location, Location! Buyers should always remember that when they purchase!

One of the the biggest challenges we have in today’s market is helping both buyers and sellers understand the intricate dynamics of pricing. It’s tough for a seller to expect to get less than was possible in previous year’s markets and some buyers are holding back, thinking prices will drop even further.

Both parties need to better understand the power of the market today when buying or selling. Quality homes still command top prices, but sellers need to adjust to the market, and some are making common, but critical, mistakes when pricing their property.

It makes natural sense that sellers want to sell as high as they can, and buyers want a bargain, especially with all the media about the down market.

Sellers think they need to build in room for excessive negotiating which, many times, puts them out of the marketplace. Other times, they think they can get what their neighbor got in a previous market instead of understanding the new dynamic of today’s market.

When a seller overprices their home, some agents will “use it” as a comparative property to help sell other homes of a similar, or better, value. In many cases, the overpriced properties “sit” on the market longer and become stigmatized -- making them harder to sell. They end up selling for less in the long run.

We take our sellers through a competitive market analysis and show them what homes are selling for in today’s market. We want our sellers to have a realistic expectation up front, because this can mean the difference between a fast, profitable sale, and a slow, costly one. This is especially important right now as the spring market heats up.

Another impotant point that home sellers MUST remember is that no matter what town a home is located in it is imperative to have the home kept up. It’s important to remember to do the touch up painting, rearrange the furniture and PLEASE remove the clutter. Curb appeal, neatness, care of your home inside and out will make all the difference in a neighborhood or town where you have tremendous competition.

Despite what some national news programs are saying, the North & Central New Jersey real estate market is still flush with activity and homes are selling quickly when priced right. The readers should call me at 732.921.1825 if they have any questions about our local market, or if they’d like a free no-obligation market report for their neighborhood. I'm happy to help.