NJ Real Estate Values during the Recession of '08

January 18th, 2009 8:08 PM
The New Year seems to be a continuation of last year with more refinances as well as a slight increase in the amount of sales. I was contacted by a local Real Estate Broker who inquired about  pre-listing appraisals. Generally, these are used by people selling there there homes privately, but in this market he was wondering  about using them on some of the  high end properties that have been languishing on the market for 1 or in some cases  2 years. He believes if the owners see the current, appraised value they might be either more willing to cut there price or take the home entirely off the market.  He told me he has 3 times the normal amount of listings at this time of year send he hoped I might help him start cutting his inventory. In a challenging market its best to keep all your options open and I believe more brokers in our area will start seeking outside help to alter Sellers expectations.

Posted by Jon Rosa on January 18th, 2009 8:08 PMPost a Comment (0)

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