New Jersey Real Estate Agent

This report provides insight into the state of the Montgomery Township real estate and could be useful for home buyers relocating to the Princeton area and those considering selling their Montgomery Township house.

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Princeton Real Estate And Real Estate Around The Country
What is the risk of real estate prices in Princeton, as well as homes in Montgomery, West Windsor and other surrounding towns, going down in the next several years? I am not exaggerating when I say this is the question everyone asks me these days, even people who are not planning to buy or sell their home in the near future. My answer usually includes words to the effect of not having a crystal ball, accompanied by the description of exactly what has already happened in Princeton real estate and why. For some areas in the country there are companies that measure risk of future real estate price declines.

PMI Mortgage Insurance Company ranks the nations 50 largest metropolitan statistical areas (MSA)  according to the likelihood the home prices will be lower in two years. They recently released their report for the Summer 2008. The positive news in what their index shows is that the risk declined in approximately 86% of the 381 MSAs tracked. The negative news is that the risk continues to intensify in areas with previous fast increases of home prices:

"  In general, risk continued to intensify in many of the MSAs where home price growth had significantly exceeded historical norms during the housing boom, but continued to decline in many other areas across the country." Of the 50 MSAs, 15 in the two highest risk categories were in California, Florida, Nevada, and Arizona.

The PMI report shows the highest risk of future price declines in:

• Riverside-San Bernardino-Ontario, CA (95.5)
• Fort Lauderdale-Pompano Beach-Deerfield Beach, FL (92.2),
• West Palm Beach-Boca Raton-Boynton Beach, FL (91.9)

The areas with the lowest risk of price declines are each at less than a 1 percent chance:

• Fort Worth-Arlington, TX,
• Dallas-Plano-Irving, TX
• Pittsburgh, PA

The index takes into account many factors including affordability, home price appreciation and unemployment, which rose across all MSAs on average of 5.37%. The East coast has seen some of the larger unemployment increases, with the Edison-New Brunswick(one of the few New Jersey towns tracked) increasing 1.17%, this being the 4-th highest increase in this region.

Princeton real estate, Montgomery, and West Windsor are not included in this index, so no such statistical data is available for us to analise. Helping my clients understand local real estate often boils down to understanding the market on the level of the specific neighborhood, housing development, particular price range and even a specific house. 

Why Some Princeton Houses Sell Quickly

Montgomery Township NJ Real Estate Market Report - June & Six Months 2008

Princeton NJ Mercer County Real Estate Market Housing Report -Second Quarter 2008

How To Buy And Sell Your Princeton Home Like A Pro

Faina Sechzer does not guarantee or is in any way responsible for accuracy of the information on this site, and provides said information without warranties of any kind, either expressed or implied. Every consumer is urged to perform their own research and analysis.

Copyright ©2008 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published

If you are considering selling your Princeton area home you may be wondering what  updates would be needed to help you sell it quickly. Many of my clients ask this question, since in this market home condition and appearance are very important to the success of the sale. There is no one rule applicable to every home, it depends on many factors requiring a visit to the home for specific advice.

One of the things that comes up for consideration often is whether to update the look of the kitchen by installing granite counter tops. It is a costly item and such an update always require careful thought. Now more thought may be needed, since more information is becoming available that some granites emit radiation and contain radon.

Increased level of radon is not good for living in the house and not good for selling it. New York Times describes several cases were the radon level was 20+times the limit used for passing the home inspection.
 
The article says : "Indeed, health physicists and radiation experts agree that most granite counter tops emit radiation and radon at extremely low levels." On the other hand, "with increasing regularity in recent months, the Environmental Protection Agency has been receiving calls from radon inspectors as well as from concerned homeowners about granite counter tops with radiation measurements several times above background levels".

Apparently, not all kinds of granite emit radiation or radon. There are tests that could be performed to determine which ones do and which ones do not.  Association Of Radon Scientists and Technologist could provide information on the certified technicians. Similar information is available for the EPA. In New Jersey the Department Of Environmental Protection has information about radon and radiation. Here are a few more helpful resources for technicians certified in NJ to provide testing and remediation.

The Radon Measurement Businesses Certified in NJ   
Radon Mitigation Business certified In NJ  

Faina Sechzer does not guarantee or is in any way responsible for accuracy of the information on this site, and provides said information without warranties of any kind, either expressed or implied. Every consumer is urged to perform their own research and analysis.

Copyright ©2008 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published

Do you want to sell your home in Princeton, Montgomery, West Windsor, or any   other surrounding towns? If you do, make sure your house is not on the Endangered Species list. This could kill your chances for selling.

Read:  5 Deadly Mistakes When Selling Your House

Let me explain what it means to be an "Endangered Species" house. It is the term I use for the houses that can't be seen by home buyers easily. My colleague Paul Slaybaugh, Scottsdale AZ  uses it for houses marketed "Exclusively" by one brokerage and not through the MLS. In both cases this not what you want when selling your Princeton area home.

Read: Why some Princeton houses sell fast

I have to preface this by saying the following is a true story. I am working with clients, a lovely couple looking to buy a Princeton luxury home. This should be easy, given it's buyers market, right?. In other words, sellers should be eager to find very qualified buyers for their home.

Apparently, not all sellers and agents got this message yet. Half of the houses I wanted my clients to see over the weekend were not available for showing. One Princeton house for sale  was not available because the seller required them or their agent being present and neither was available. This is during the weekend and shortly after the house  going on the market - the prime time for finding a home buyer. To set up another appointment required me calling 4 times, and so on.
 
I know some areas in the country still have "Exclusive" listings, meaning they are not shared on the MLS. We don't have many of such listings here. There are many other ways to make your house "Exclusive". Making the house inaccessible for showings makes Exclusive into Excluding. "Excluding homes", to coin the famous expression, are "not a good thing".

If you are selling your Princeton area home now or are contemplating doing it in the near future, please plan for your home to be available for showings to buyers. This is one of the most critical aspects of home selling. Having the house available for showing may be inconvenient for home sellers, but is essential. Houses that can not be seen, can't be sold .

If you are selling your home in Princeton, please understand that the home buyers who couldn't get to see your home on Sunday, may not give you a second chance and come back on Monday. They are not sure if you are serious about selling, plus there are so many other Princeton homes for sale to see.

Make sure that your real estate agent is committed to the selling process and is available for the duration. I schedule my vacations so they don't interfere with my clients' sale. Make sure that's the case for your home as well.

Read: What should you pay your New Jersey real estate agent?

Faina Sechzer does not guarantee or is in any way responsible for accuracy of the information on this site, and provides said information without warranties of any kind, either expressed or implied. Every consumer is urged to perform their own research and analysis.

Copyright ©2008 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published

Be careful when preparing your Princeton home for sale, especially if you consider  working with contractors on home improvement projects. Princeton Real Estate blog provides tips, news and information on local real estate in Princeton, West Windsor, Montgomery, Lawrenceville (and other surrounding towns). Many Princeton home sellers ask me about whether and what kind of home improvements they should undertake before putting the house for sale.
Read: Why some Princeton homes sell fast
    One sure way kill your Princeton home sale

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