Saturday, September 16, 2006

Adjusting Price Expectations at the Shore

Here is another excerpt from the Asbury Park Press real estate series of articles that was published yesterday.


[The real estate market has changed a lot in the past year. The number of available homes is up and the days when sellers could stick a "for sale" sign on the lawn and name their price are gone, at least for now.

"Prices from last year are not what they are this year," said Iris Lurie, broker/owner of Century 21 Mack-Morris Iris Lurie in Marlboro.

Lurie's office worked with the Warrens on selling their home in Marlboro, where they have lived for 36 years. They recommended the Warrens cut their price to find buyers, and when they did, a buyer emerged quickly.

"We listed it higher, thinking that was the correct price," Hildy Warren said. "The market was telling us differently."]

Full article...


Anonymous Anonymous said...

How about this seller's comment: "buyers are getting very good deals". Considering the massive run-up in prices, particularly over the last three years, buyers will not be getting very good deals unless prices drop at least 20% from where they are now. It is an affront to buyers for sellers and brokers to say that the current market is a "buyer's market". Far from it.

Saturday, September 16, 2006 6:53:00 PM  

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