Market Report For Gloucester County NJ April 2008 

Units that were listed - 623

Listed Volume - 184,331,376

Average List Price - $295,877.

Properties that pended in April 2008 - 243

Properties that sold/settled in April 2008 - 245

Sold Volume - $57,990,675

Average sold Price - $ 236,696.

Average Days On Market - 96

Details for the SOLD units For April 2008

Minimum Prices
Original List Price - $74,900
Sold Price - $61,500

Maximum Prices
Original List Price -$799,900
Sold Price - $799,900

Average Prices
Original List - $256,529.
Sold Price - $236,696.

Information deemed reliable but not guaranteed. Information gathered from TReND.

Dave Sulvetta REALTOR-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate

http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com

        

Here  are the RESIDENTIAL Market Statistics for the Month of April 2008 as of May 5, 2008

Camden County NJ

Units that were listed in April 2008  - 1229 units

Total listed Volume was - 302,155,904

Average List Price -$245,855.

Average Sold Price – $205,333.

Properties that Pended – 404

Units that sold/settled -372

Sold Volume – 76,383,934

Average Days On Market – 83

 

Of the units that sold;

Minimum Prices

Original List Price- $12,500.

Sold Price - $16,500.

 

Maximum Prices –

Original List Price - $739,000.

Sold Price - $695,000.

 

Average Prices –

Original List Price - $222,003.

Average Sold Price - $205,333.

 

Information deemed reliable but not guaranteed. Information gathered from TReND.

Dave Sulvetta REALTOR-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate

http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com

        

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Market Statistics

For Camden County NJ

March 2008

March 2008 had the following activity (residential) for all of Camden County NJ.

Units that were listed-   1068

 Cumulative dollar amount -$269,129,975 (total dollar amount for all homes listed in Camden County)

 Average List Price Per House- $251,994

Pended- 332

Units Sold- 323

This means of the 332 homes that received acceptable offers, 323 of them actually sold.

The sold volume for the month was $63,645,102

Average Sold Price in Camden County – $197,043

Average Days On Market for a home- 89

Minimum price of a house that went on the ...

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I have recently read this article while searching the internet for sellers tips. This article is absolutely right on the money and with the gracious permission to reprint from Robert Jenson, you too can benefit from it. Enjoy!

Reprint-
RISMEDIA,  March 28, 2008-Most sellers have an emotional connection to their home and feel it deserves top dollar when being sold. Everyone naturally wants to get the most money for his or her product, but “sellers must not be hasty with this all-important decision,” cautions real estate expert Robert Jenson, founder and CEO of The Jenson Group. “Indeed, the most common mistake that causes sellers to get less than they hope for is listing the sale price too high.”

Jenson notes, “Listings reach the greatest proportion of potential buyers within the initial days and weeks after hitting the market. If a property is overpriced early on, it will be dismissed - or outright missed - by prospective buyers and may result in price reductions that will reflect poorly on the listing. Overpriced properties languish on the market, and most end up selling at a lower price than would have been realized had it been priced properly in the first place.”

To help would-be sellers foster maximum profits with their real estate transaction, Jenson offers these insights on the various elements that must be considered when establishing a fair, competitive and marketable sale price for a home:

1. Square footage: Total square footage is an important consideration when establishing a home’s sale price, but this is usually just a starting point for buyers who will use it to narrow down the field, but make an actual purchase decision based on many other factors. There are some general rules of thumb to know when considering a home’s price per square foot, such as smaller homes generally get a higher price/foot than large homes, and single stories will sell for a higher price/foot than a two story.

2. Location within community: Homes that back up to a busy street get, on average, 10-20% less than homes elsewhere in a neighborhood. Anticipate this type of obstacle and factor it into the original sale price to avoid inevitable price reductions down the road, which reflect poorly on the listing and will likely cause it to sell at a lower price than would have been realized had it been priced properly at the onset. Quiet cul-de sacs, golf or water frontage, lots that offer privacy are value adds that can certainly justify a higher sale price than other homes in a community - or be leveraged as an advantage against competing listings.

3. Views…or lack thereof: Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly. Just be realistic. A view that can only be had by standing on the counter from the second story looking out the window to the left simply doesn’t count, and it’s inadvisable to dupe a prospective buyer by adding this to the listing’s MLS description.

4. Upgrades and features: It’s a simple formula: upgrades = sold. For a home to sell quickly and for the price desired, it must be “finished” with as many structural and interior design upgrades as possible…and nothing’s too small to leverage in establishing a home’s price point. From crown molding to faux paining to door handles and cabinet handles/knobs with modern finishes, to more obvious upgrades such as appliances, window, counter, cabinet and floor treatments, to swimming pools and surround sound wiring…any functional or beautification enhancement to a home are considerations in establishing its true value and strategic sale price.

5. Community amenities: Guard-gated communities or those with amenities such as a clubhouse, swimming pool and/or fitness center are also elements that often raise a home’s price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value adds so that you can price your home as aggressively and competitively as possible.

6. Comparable sales: Price your home referencing sold comparables -price per square footage of other homes that have already sold in your community - up to 3-months old maximum, as looking beyond 3-months is simply not a realistic portrayal of current market conditions and may steer you in a wrong direction. It’s also as important to compare your listing to active competing listings - homes currently for sale, which is the best tool for honing an effective pricing strategy - particularly for highly motivated sellers.

7. Professional appraisal: Sellers often frown on the idea of paying for an appraisal before there’s even an offer on the table, but doing so is actually one of the most important things a seller can do in pricing a home relative to current market conditions. Want to sell the home quickly? Price it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.

8. Current mortgage conditions: The current mortgage market has tightened its proverbial belt and many lenders now require higher credit scores coupled with higher down payments, which can cash strap a buyer who will most definitely be holding out for the best deal possible. Every seller naturally wants to get the most money for his or her product, but a savvy seller will understand the mortgage industry’s impact on the buyer and will price accordingly.

For more information, visit http://www.thejensongroup.com.

Dave Sulvetta REALTOR-Associate
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate

http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com

        

Well, im certainly not alone! As im searching the internet for information with regards to Real Estate Photography, I came across this great article from the WALL STREET JOURNAL. Please read and hopefully when selling your home you will demand excellent photos too! Your REALTOR should provide you with nothing less.

http://blogs.wsj.com/developments/2008/03/03/why-dont-real-estate-agents-use-better-photos/#comment-12787 ...<< MORE >>

Gloucester county Settled for the month of February 2008

This is for 3-5 bedroom homes.

For Gloucester County this report to shows much promise in the market.

107 Homes Settled for the month of February of which the average list price was $278327.49 (total $29,502,713) and the average settled price was $268,275.31. for a total of $28,437,183.

Only 38 sellers gave concessions. The high selling price was $815500. The low selling price was $70,000.

There were 4- five bedrooms, 50- four bedrooms and 52- three bedrooms.

Dave Sulvetta REATOR-Associate
Century 21 Hearst
Camden County Real Estate, Gloucester County Real Estate, Burlington County Real ...

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WOW! The market is perking up!

 This is a list of SOLD homes that settled in the month of February 2008.

 192 homes settled in the month of February for Camden County and of all these homes the average LIST price was $253, 682.05 for a total of $48,453,271.00 WOW!

 The average SOLD price drops to $243,491.48. Now, you may think that’s a significant drop in price however the interesting point I will show you is, there were PRICE INCREASES! The average gross amount settled for the month of February was $46,506.872! GREAT NEWS!

 Of all the homes that settled last month (192 of them) only 74 sellers gave concessions.

 There were 17 two bedroom settled, 96 three bedrooms, 67 four bedrooms, 7 five bedrooms amd 3 six bedrooms

 The high sales price was $1.853 million and the low sales price was $39000.

Dave Sulvetta REALTOR-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate

http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com

        

If you’re ready both financially and mentally, the values of homeownership greatly outweigh the risks and worries.

First, I am going to take a moment to talk about the most common rewards of homeownership.

I am an investor (and a REALTOR®) and I buy real estate and keep it, so I am a landlord. One of the best things about homeownership is that fact that you own your home and you don’t need to worry about paying rent which NEVER gets credited to you. When you pay rent, you never build equity and building equity is like money in the bank!

Let’s explore the tax benefits

Mortgage interest deductions- The IRS has a  great publication that are fairly easy to understand, follow this link http://www.irs.gov/pub/irs-pdf/p936.pdf  Mortgage interest is deductable on your tax return, however there are some exceptions, one being your mortgage loan must be under 1 million dollars. The IRS document in the link will be the most accurate source of information.

Your property tax is deductable- IRS link for form 503 which explains these deductions. Some forms of write offs… (there are four) There are four types of deductible, non-business taxes:
•         State, local and foreign income taxes;
•         Real estate taxes;
•         Personal property taxes; and
•         State and local sales taxes.
Read more about this here.

Capital Gains- This is HUGE!  When you sell a primary residence (you must live there for atleast two years) you don’t have to pay taxes on the sale of that house if the profit is $250,000 or less for an individual, or $500,000 for a married couple. You can decide what you want to do with that money, buy a car, boat, whatever. I do believe at one time there was a 55 or older rule, this does not apply here. This works every two years too, (but it would be exhausting).
Home Equity Loans-YEP, you can write them off too!

PRIDE OF OWNERSHIP- Not a tax break, but its so much better knowing you own your home and your building equity for the future!  

As with any rule there are exceptions, both in our favor and against…contact the IRS and/or your accountant for all exceptions AND more benefits. They will certainly provide you with accurate information regarding your personal situation.

Dave Sulvetta REATOR-Associate
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate

http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com

        

I hope you will find that the following paragraphs will aid you in effectively selling your house in a down market.



First A “DOWN MARKET”- My meaning of this is when there are more homes on the market for sale then there are buyers… NOT ALL MARKETS ARE CREATED EQUAL! Consult your REALTOR®



These are some of the points I go over with all my clients that are listing their homes. I try to get the most money I can for them, but some of the following steps (if not all), are ...<< MORE >>