Sally Ponchak

Wondering about the Wyckoff real estate market? Here are the some recent figures for single family homes, accordiing to the New Jersey Multiple Listing Service.

As of today, there are 64 active listings, with an average list price of $957,003.

Six listings sold in the month of February. The average listing price was $704,100 and the average sold price was $592,917, which means that homes in Wyckoff were selling last month at 84.209 % of their list price, on average. For the listings that sold, the average number of days they were on the market was 89.

Here are the February sold listings, as reported in the NJMLS:

MLS# DOM Price Style Address BR FB HB
1142310 49 $335,000 COL 510 EDER AVE 2 1 0
1138131 63 $371,000 C/C 260 WYCKOFF AVE 3 2 0
1134679 17 $445,000 COL 205 OAK AVE 3 2 0
1143387 17 $667,500 B/L 368 MULBERRY CT 4 3 0
1128983 189 $744,000 COL 219 CRESCENT AVE 4 2 1
1125304 201 $995,000 RANCH 767 CHARNWOOD DR 4 3 1

Note: These properties were listed and sold by various participants of the NJMLS based on information from the New Jersey Multiple Listing Service, Inc. for the period February 1, 2012 to February 29, 2012. Information deemed reliable, not guaranteed.

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Most people love their homes. It’s where they’ve lived, loved, laughed, created happy memories, raised their family. But when it comes time to sell, it’s important that they distance themselves from those emotions. Failing to do so can wind up costing money in the end.

I consider this a really important part of my job — to bring objectivity into a what is an extremely emotion-filled transaction.

First, it’s crucial that a the price is based not on what the owner “feels” the home is worth, but rather on what is going on in the local market. Overpricing the home from the start often leads to longer time on the market and ultimately a lower sale price.

Similarly, I’ve had sellers who want to reject an early offer, “hoping” that a better offer will come in. If the home is priced right, an educated buyer, that is, someone who’s been looking for a while, will know it. Homes that are new to the market get the most activity in the first two weeks. If an offer comes in during that time, it is unlikely that a higher offer will come in later.

It’s also important that sellers do not take personal offense at an offer. Sometimes the initial, emotional reaction may be to reject an offer because it is too low. But my job is to remind the seller that it’s not personal, and that a counter-offer, rather than a rejection, is more productive for reaching their ultimate goal – the sale of their home.

While selling a home is, in the end, a business transaction, it is also an extremely emotional process. It requires a careful balancing of the emotions and objectivity.

Although it’s not always easy, I love what I do. I try to bring a strong, but caring, “reality check” to sellers, which will result their selling their home in the shortest time at the best price.

Read more: Sellers: Don’t Let Emotions Get in the Way of Your Sale | REALTOR.com® Blogs

Right now is the "perfect storm" for those thinking about buying!

1. Mortgage Rates are at an all-time low!

2. Home prices are the lowest they have been in years!

3. There is plenty of inventory to choose from!

4. This time of year many Sellers are anxious to sell so they can start the New Year fresh!

5. Buyers with decent credit and down payments are getting mortgages!

Don't be one of the people saying " I should have bought in 2011!" Now is the time!