New Jersey Real Estate Agent

There are some homes in Princeton that continue to sell well in any market. This article looks at what makes these Princeton homes special.

For some Princeton real estate sellers it has been a challenging market.  In the Princeton township there were 190 houses listed in the first six months of 2008, and only  84 sold during the same period. In 2007, this ration was 239 houses listed to 101 houses sold. In 2005 it was 247 listed and 123 sold. What is interesting is there are houses that continue to sell quickly in any market  and some are selling over asking price.

"Could my house sell quickly in this market?" is a question many sellers in Princeton ask me in trying to understand what makes a difference between a house that sells and the one languishing on the market.

In this article I would like to look at a specific Princeton home as an example, because it has sold several times in the last several years and illustrates some of the important issues.

This home is located on Moore street in the Princeton Township. It was listed in 06/05 for $849,900 and sold for $900,000. It went under contract in only 15 days. Fast forward to the different market of 2008. The same Princeton homes was listed in 4/08 for $998,000 and goes under contract in 8 days. The house sold again for over asking price -$1,015,000.

Although one house of course does not explain what goes on in the Princeton real estate market it illustrates several important points about what home buyers are looking for. So, what was special about this Moore street house have that allowed it to sell well in all markets?

1. Desirable Location
Moore street is a pretty street within walking distance to Princeton High School and downtown Princeton. There are many buyers who place value on this location.

2. Outside Appearance
There are house that are appealing to many people because they evoke a positive emotional response.  This home although does not have a big footprint from the front, looks like a fairly tale cottage. The grounds are beautiful in the front yard, before you get into the house. It makes it easy for the buyers to envision themselves living in this charming place and already makes them positively predisposed to what's inside.

3. Modern Amenities
Many Moore street houses are older, with smaller rooms and other attributes of older homes. Buyers today place premium on houses that could accommodate family activities, such as large family rooms. This house was remodeled to include a big family room addition and kitchen with all the bells and whistles. All the bathrooms were also remodeled. Because few other Moore street houses have these amenities, this one commanded a premium.

4. Condition
The house was in spotless condition, with nothing for the buyers needed to do. Because the house is a cape, the bedrooms on the second floor were smaller with slanting ceilings. the presentation was such that it underscored the charm, rather then limited space. Buyers were willing to overlook the size issue, because the home looked so appealing.

If you are considering selling your Princeton house now, it does not necessarily mean you should embark on expansive renovations or additions. Selling in this market requires understanding what home buyers want and need when looking for Princeton homes for sale and translating it into marketing plan for your home.

Resources for finding best Princeton real estate:

How To Buy And Sell Your Princeton Home Like A Pro

Monthly and quarterly Princeton real estate market housing reports:

Princeton area Housing Prices, Market Reports, Statistics

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

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

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