Eugene Jones

Somerville, NJ market analysis for October 2008

Compared to September 2008

October: September:

Active Listings = 84 87

Average LP = $ 333,279 $ 337,446

New Listings = 11 18

Average LP = $ 285,043 $ 336,439

Under Contract= 7 6

Average LP = $ 333,557 $ 286,800

Sold Listings = 5 3

Average SP = $ 271,300 $ 279,800

Average DOM = 74 72

Average SP/LP = 96% 99%

*Statistics based on information from Garden State MLS, L.L.C. Deemed reliable but not guaranteed.

Somerset, NJ market analysis for October 2008

Compared to September 2008

October: September:

Active Listings = 507 554

Average LP = $ 380,315 $ 406,988

New Listings = 71 107

Average LP = $ 345,108 $ 391,593

Under Contract= 50 47

Average LP = $ 327,059 $ 343,984

Sold Listings = 43 54

Average SP = $ 339,517 $ 325,019

Average DOM = 86 82

Average SP/LP = 97% 95%

*Statistics based on information from Garden State MLS, L.L.C. Deemed reliable but not guaranteed.

Bridgewater, NJ market analysis for October 2008

Compared to September 2008

October: September:

Active Listings = 361 394

Average LP = $ 535,904 $ 550,914

New Listings = 61 79

Average LP = $ 448,492 $ 483,486

Under Contract= 36 32

Average LP = $ 420,179 $ 511,825

Sold Listings = 33 41

Average SP = $ 450,784 $ 463,021

Average DOM = 73 70

Average SP/LP = 96% 95%

*Statistics based on information from Garden State MLS, L.L.C. Deemed reliable but not guaranteed

While parts of the east coast was hit with some early snow fall this past Tuesday, I don't think Storm Fields saw it coming, many attended the EverythingJersey: business 2nd Annual Statewide Conference & Expo at the Garden State Exhibit Center this past Tuesday. It was a first for me and I was pretty excited to attend.

I met a lot of great people and learned of new businesses in the area that I'd otherwise would have never known exist. Most importantly I gave, as well as received, a lot of business cards and hopefully made some future connections. I even met a guy who inherited a piece of property that he wants to get rid of. If that pans out, then that will be $39 well spent.

I also had a chance to hear keynote speakers Bart Oates (former NY Giant) & Steve Adubato (TV personality) give some good advice on how to build a solid network of contacts during rough economic times.

7 Tips to Connect, Network, and Build Your Business

1) Go the extra yard

reach out to customers before something goes wrong

send an unexpected email

make the call

give it away

2) Be responsive

respond within 24 hours

3) Don’t keep score

don’t point fingers or play the blame game

4) Admit your mistakes

make restitution quickly

5) Build your brand

market yourself, you want consumers to remember you first

6) Take the high road

never trash your competition

7) Keep a positive attitude

Is there a difference between a good “listing” and “just having a house on the market.” I would have to say “yes.” Having a good listing means having a

home that is reasonably priced for the on-going market. If the home is priced too high (especially in this market) the chances of it selling are weakened.

On the other hand, if the home is priced too low, then the home owners may be left thinking they could have received more for their home.

Another key to a good listing is a motivated seller. The highly motivated sellers, tend to be more flexible. Motivated sellers tend to have time against their

side, whether it’s because of job relocation, troubled finances, divorce situation or just needing to upgrade. The less motivated the seller, the less likely they

are willing to do whatever it takes, ie price reduction, to get the home sold.

One more important key to a successful listing is the bargain and sale deed. If the home is priced right, and the seller is motivated, you don’t want a surprise

guest claiming interest in the property and preventing the sale.

No one I know likes to waste time or money and through experience I’m learning how easy it is to burn time & money by just having a house on the market.

It is my focus to pay attention to all the key elements of attaining a good listing before I just put another house on the market.