Princeton New Jersey Home Sellers - What Should You Do During The Summer?

Do You Want To Be A Successful Princeton Home Seller?

How do you get to the finish line if you are selling your Princeton home now? What should you do if you are considering selling now, but didn't start the process yet? While Princeton real estate does not take breaks for vacation, the sales activity slows down in the summer, and even more so now with the credit and banking problems and other economic uncertainties. In this generally slow New Jersey real estate period there are home sellers in Princeton who are already in the market selling their home, or are considering if they should do it now. After the July 4Th holidays home sellers in the Princeton area find themselves in 3 categories each with different goals and objectives, but all wanting the best outcome. I review the strategies for these sellers in this article.

1. Your Princeton home is under contract.

Yours is now a waiting and preparing game, getting ready for closing and preparing to move.

If you are in this group you are obviously in the best position and ahead of many homes that didn't sell. Nevertheless, this time is still not without the emotional ups and downs that many real estate transactions have even after the house is under contract.

If you are in this group your main objective is to smoothly get to the closing, by making sure all the contractual obligations are met by all the parties.
If there are repairs that had to be done, as part of the negotiated contact, make sure all the parties are on board.
Review with your agent and attorney the checklist for closing and make sure all the items are being addressed.

2. Your Princeton House did not sell.

You home is still on the market, perhaps after several price reductions and you are asking yourself: " Why did my house not sell, and what could be done now, if anything to get it accomplished?".

Although there is a lot generic advice on what makes the houses sell, this is the time when you need a real specific re-assessment. I am often asked by Princeton home sellers: "Why did my neighbor's house sell, and my didn't"? Now, is the time to confront these issues, that could range from the pricing, to timing, to appearance and even furniture. Yes, buyers should know, they are buying the house, not the furniture, but often they can't get beyond what they see.

Whatever the issue, why your house didn't sell, now you need to put aside the emotional attachment we all have to our homes, get expert advice and incorporate it in your plan of action going forward.

Although there are still buyers, who did not buy the home this season, and are looking still looking, most likely, not much selling activity would happen until after the Labor day. Be prepared for the new plan of attack for the fall market.

3.Your are considering selling your Princeton home.

You may not be sure is it's possible to sell your Princeton real estate home now. You may have circumstances that are either requiring you to move from Princeton to another area or there may be another reason why you would want to sell. The questions such potential sellers have, given the state of the Princeton real estate, is whether it's realistic to be able to sell now. Many sellers are thinking whether they should rent the house and wait for the better market.

You need to access the real need and motivation for selling your Princeton area home now and reconcile it with the economics of each alternative. Do you need to take the equity in the house for another purpose, or not? If you decide not to sell, would you be able to rent it out for sufficient amount to cover your costs? Do you understand all the issues involved in becoming a landlord? Do you believe that Princeton real estate market will be better next year? Do you believe Princeton real estate would be worse next year? How would each scenario effect your plans? If the interest rates continue to climb, home buyers would be able to afford less. Would that impact your decisions?

Analyze all the alternatives based on facts, rather then predictions of future available only to those with a cystal ball. If you decide that selling your home is the best approach now, make sure you have the plan to make it happen even in this week market. Realise that taugh times for sellers call for tough marketing. In the next few weeks I will publish more tips on selling in this market.

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

Princeton area Housing Prices, Market Reports, Statistics

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

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