Cherry Hill | Camden County | New Jersey | Selling Out of State Investment Properties

I was just having a conversation with an out of state investor today about selling her property. This property has been listed previously, but did not sell. After viewing the property and speaking with the tenants, it is clear why the property didn't sell. This home is in a very nice, primarily owner occupied neighborhood, but the level of finishes in the property were clearly chosen with renting in mind. There isn't anything wrong with the property, everything has just been done with economics, not aesthetics in mind. Unfortunately the previous agent priced the property using the owner occupied properties in the area as comparables. For the most part this is the right thing to do, but there was no consideration taken for the quality of the finishes, or the fact that the buyer would have tenants living in the property and could not move right in.

This is a very astute investor, and if she had been local, she probably would have quickly realized that her home was mispriced. Unforetunatly for her, she isn't local, and she has wasted the past 6 months marketing her home with little chance of selling it. As an investor, she understood immediately when I had this discussion with her, and we will be listing her home at an appropriate price. This is just a good example of why it is extremely important to select a local professional who specializes in the types of property that you are trying to sell. All single family homes are not equal, and neither are all investment properties. Always be sure to ask what type of experience your agent has before asking them to market your property.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com