This document provides a summary of the real estate market in Princeton, NJ and surrounding areas in December 2017. It discusses national economic factors impacting the housing market and gives an overview of trends in New Jersey, Mercer County, and specific municipalities like Plainsboro, West Windsor, Lawrenceville, and Princeton. Data on average home prices, days on market, and sales volumes are presented for single-family homes and condos/townhouses across different price ranges and neighborhoods to analyze local market conditions.

1. Princeton Area
Real Estate Market Update
December 2017
Josh Wilton
Managing Broker
Weichert Realtors
Princeton Office

2. “
Dave Ramsey
Financial Guru
When getting help with money,
whether it is insurance, real estate or
investments you should always look for
someone with the
heart of a teacher,
not the heart of a salesman.

3. Agenda
The Market: The Big Picture
Understanding the Local Market(s) You’re Buying
Into or Selling Out Of
Process and Strategies for Buyers and Sellers
Real Estate Market Update
Agenda

4. Real Estate Market Update
What are you hearing about the market?

5. The National Picture

6. Economic factors
6
Now ** 2013 2010
Gas per gallon (NY area) $2.45 $3.81 $2.73
Stock market (Dow Jones) 24,329 14,776 11,578
Avg. 30-year fixed rate 4.25%* 4.43% 4.71%
Consumer confidence rating 117.7 76.2 63.4
Household income $56,516 $53,046 $49,276
Unemployment rate 4.5% 7.4% 9.3%
Foreclosures 848,609 1,369 ,405 2,871,891
2010 to Current Comparisons

7. Listing Inventory
7
• Was a BIG deal in 2016
• BIGGER deal in 2017
• Even BIGGER Deal in 2018
• Existing inventory levels down 11% over a year YTD 2017 (nationally)

8. Median Seller Tenure In Home
8

9. First-Time Homebuyers make up
Majority of 2017 Home buyers*
9
• 52% First Time Homebuyers
• 61% Millennial Buyers (35 years
and under)

10. The boom….The New Jersey MarketThe Statewide Picture

11. The boom….The New Jersey MarketThe Statewide Picture

12. The New Jersey MarketThe Statewide Picture
Source: NJAR 10K Research

13. The New Jersey MarketThe Statewide Picture
Source: NJAR 10K Research

14. The New Jersey MarketThe Statewide Picture
Source: NJAR 10K Research

15. The Local Market
Real Estate is Local
It’s Local to the County
It’s Local to the Town
It’s Local to the Price Point
It’s Local to the Neighborhood/Development
It’s Local to the Street
Real Estate is Local

16. The boom….The Local MarketThe Local Picture

17. Mercer County
Supply & Demand
Price Trends
Source: NAR, November 2008 Forecast
The Local Picture

18. Long Term Demand …
Source: NAR, November 2008 Forecast
http://lwd.dol.state.nj.us/labor/lpa/dmograph/est/est_index.html
Long Term Demand for Housing
2008 2009 2010 2011 2012 2013 2014 2015 2016

19. Long Term Demand …
Source: NAR, November 2008 Forecast
http://lwd.dol.state.nj.us/labor/lpa/pub/factbook/merfct.pdf
Long Term Demand for Housing

20. Source: NJAR 10K Research Data
No jobs…no market

21. Source: NJAR 10K Research Data
Mercer/ Middlesex County
Real Estate Market Drivers
1. Trains/Schools/Affordability
2. Schools/Trains/Affordability
3. Convenience/Town Center/Lifestyle
4. Affordability
5. Schools
6. Trains

22. Source: NJAR 10K Research Data
Plainsboro
Real Estate Market Drivers
1. Trains/Schools/Affordability
2. Schools/Trains/Affordability
3. Convenience/Town Center/Lifestyle
4. Affordability
5. Schools
6. Trains

23. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

24. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

25. Plainsboro Market Activity
Single Family Homes
Average Sale Price
Source: Middlesex MLS

26. Plainsboro Market Activity
Single Family Homes
Average Days on Market
Source: Middlesex MLS

27. Plainsboro Market Activity
Single Family Homes
List to Sale Price Ratio
Source: Middlesex MLS

28. Plainsboro Market Activity
Condos & Townhouses
Average Sale Price
Source: Middlesex MLS

29. Plainsboro Market Activity
Condos & Townhouses
Average Days on Market
Source: Middlesex MLS

30. Plainsboro Market Activity
Condos & Townhouses
List to Sale Price Ratio
Source: Middlesex MLS

31. Plainsboro Market Activity
Walker Gordon Farm
Average Sale Price
Source: Middlesex MLS

32. Plainsboro Market Activity
Walker Gordon Farm
Average Days on Market
Source: Middlesex MLS

33. Plainsboro Market Activity
Walker Gordon Farm
List to Sale Price Ratio
Source: Middlesex MLS

34. Plainsboro Market Activity
Princeton Landing Condo/Townhouse
Average Sale Price
Source: Middlesex MLS

35. Plainsboro Market Activity
Princeton Landing Condo/Townhouse
Average Days on Market
Source: Middlesex MLS

36. Plainsboro Market Activity
Princeton Landing Single Family Average Sales Price
Source: Middlesex MLS

37. Plainsboro Market Activity
Princeton Landing Single Family Average DOM
Source: Middlesex MLS

38. Source: NJAR 10K Research DataSource: NJAR 10K Research
Plainsboro, Year over Year
2014 2015 2016 2017
Listed 294 308 337 312
Pended 190 210 226 246
Sold 176 207 228 230
Avg Sold Price $427 $419 $433 $387

39. Source: NJAR 10K Research Data
West Windsor
Train
Schools
Lifestyle
Affordability

40. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

41. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

42. West Windsor Market Activity
Single Family Homes
Average Sale Price
Source: Trend MLS

43. West Windsor Market Activity
Single Family Homes
Average Days on Market
2012 2013 2014 2015 2016 2017
Source: Trend MLS

44. West Windsor Market Activity
Single Family Homes
List to Sale Price Ratio
Source: Trend MLS

45. West Windsor Market Activity
Condos & Townhouses
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend MLS

46. West Windsor Market Activity
Condos & Townhouses
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

47. West Windsor Market Activity
Condos & Townhouses
List to Sale Price Ratio
2012 2013 2014 2015 2016 2017
Source: Trend MLS

48. West Windsor Market Activity
All Styles– Canal Pointe
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend MLS

49. West Windsor Market Activity
Canal Pointe – All Styles
Average Days on Market
2012 2013 2014 2015 2016 2017
Source: Trend MLS

50. West Windsor Market Activity
Canal Pointe – All Styles
Average List to Sale Price Ratio
2012 2013 2014 2015 2016 2017
Source: Trend MLS

51. West Windsor Market Activity
Single Family – Estates @ Princeton Jct
Average Sale Price
Source: Trend MLS

52. West Windsor Market Activity
Single Family – Estates @ Princeton Jct
Average Days on Market
Source: Trend MLS

53. West Windsor Market Activity
Single Family – Estates @ Princeton Jct
List to Sale Price Ratio
Source: Trend MLS

54. West Windsor Market Activity
Single Family – 0-$650,000
Average Sales Price
Source: Trend MLS

55. West Windsor Market Activity
Single Family – 0-$650,000
Average Days on Market
Source: Trend MLS

56. West Windsor Market Activity
Single Family – 0-$650,000
List to Sale Price Ratio
Source: Trend MLS

57. Source: NJAR 10K Research DataSource: NJAR 10K Research
WW, Year over Year
2014 2015 2016 2017
Listed 451 485 507 420
Pended 332 341 334 325
Sold 307 323 347 318
Avg Sold
Price
$593 $576 $558 $572

58. Source: NJAR 10K Research DataSource: NJAR 10K Research
East Windsor
Train
Schools
Lifestyle
Affordability

59. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

60. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

61. East Windsor
SF Average Sale Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017

62. East Windsor SF
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

63. East Windsor SF
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

64. East Windsor CT
Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017

65. East Windsor CT
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

66. East Windsor CT
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

67. East Windsor CT
0-$399 Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

68. East Windsor CT
0-$399 List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017

69. East Windsor CT
$400-$699 Avg Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017

70. East Windsor CT
$400-$699 Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017

71. East Windsor CT
$400-$699 List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017

72. Source: NJAR 10K Research DataSource: NJAR 10K Research
EW, Year over Year, Jan – May
2014 2015 2016 2017
Listed 463 431 478 434
Pended 275 285 346 385
Sold 271 273 327 374
Avg Sold
Price
$251 $266 $253 $265

73. Source: NJAR 10K Research Data
Lawrenceville
Train
Schools
Lifestyle
Affordability

74. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

75. Source: NJAR 10K Research DataSource: https://education.state.nj.us/pr/

76. LawrencevilleMarket Activity
SingleFamily Homes
AverageSalePrice
2012 2013 2015
Source: TrendMLS
2014 2016 2017

77. LawrencevilleMarket Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS
2012 2013 20152014 2016 2017

78. LawrencevilleMarket Activity
SingleFamily Homes
List to Sale PriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017

79. LawrencevilleMarket Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS
2012 2013 20152014 2016 2017

80. LawrencevilleMarket Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
2012 2013 20152014 2016 2017

81. LawrencevilleMarket Activity
Condos& Townhouses
List to Sale PriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017

82. LawrencevilleMarket Activity
SingleFamily $500,000+
AverageSalePrice
Source: TrendMLS

83. LawrencevilleMarket Activity
SingleFamily $500,000+
Dayson Market
Source: TrendMLS
2012 2013 20152014 2016 2017

84. LawrencevilleMarket Activity
SingleFamily $500,000+
List to Sale PriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017

85. LawrencevilleMarket Activity
Adult Communities
AverageSalePrice
Source: TrendMLS

86. LawrencevilleMarket Activity
Adult Communities
AverageDOM
Source: TrendMLS

87. LawrencevilleMarket Activity
Yorkshire
AverageSalesPrice
Source: TrendMLS

88. LawrencevilleMarket Activity
Yorkshire
AverageDOM
Source: TrendMLS

89. LawrencevilleMarket Activity
Yorkshire
List to Sale PriceRatio
Source: TrendMLS

90. LawrencevilleMarket Activity
EaglesChase
AverageSalesPrice
Source: TrendMLS

91. LawrencevilleMarket Activity
EaglesChase
AverageDOM
Source: TrendMLS

92. LawrencevilleMarket Activity
EaglesChase
List to Sale PriceRatio
Source: TrendMLS

93. Source: NJAR 10K Research DataSource: NJAR 10K Research
Law, Year over Year, Jan – May
2014 2015 2016 2017
Listed 574 539 563 563
Pended 334 299 367 392
Sold 313 289 353 375
Avg Sold
Price
303 315 303 311

94. Source: NJAR 10K Research DataSource: NJAR 10K Research
Princeton
Train
Schools
Lifestyle
Affordability

95. Source: NJAR 10K Research DataSource: NJAR 10K ResearchSource: TrendMLS

96. Princeton Market Activity
Single Family Average Sale Price
Source: TrendMLS

97. Princeton Market Activity
Single Family Average Days on Market
Source: TrendMLS

98. Princeton Market Activity
Single Family List to Sale Price Ratio
Source: TrendMLS

99. Princeton Condo/ Townhouse
Average Sales Price
Source: TrendMLS

100. Princeton Condo/ Townhouses
Average Days on Market
Source: TrendMLS

101. Princeton Condo/Townhouse
List to Sale Price Ratio
Source: TrendMLS

102. Princeton Single Family
Under $1 million Average Sales Price
Source: TrendMLS

103. Princeton Single Family Homes
Under $1 million Average Days on Market
Source: TrendMLS

104. Princeton Single Family
Under $1 million List to Sales Price Ratio
Source: TrendMLS

105. Princeton Single Family
$1-1.9 million Average Sales Price
Source: TrendMLS

106. Princeton Single Family
$1-1.9 million Days on Market
Source: TrendMLS

107. Princeton Single Family
$1-1.9 million List to Sales Price Ratio
Source: TrendMLS

108. Princeton Single Family
$1-1.5 million Average Sales Price
Source: TrendMLS

109. Princeton Single Family
$1-1.5 million Average Sales Price
Open House Traffic
Source: TrendMLS

110. Princeton Single Family
$1-1.5 million Days on Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017

111. Princeton Single Family
$1.5-1.99 million Average Sales Price
Source: TrendMLS

112. Princeton Single Family
$1.5-1.99 million Days on Market
Source: TrendMLS

113. Princeton Single Family
$1.5-1.99 million List to Sales Price Ratio
Source: TrendMLS
2012 2014 2015 2016 20172013

114. Princeton Single Family
$2 million + Average Sales Price
Source: TrendMLS

115. Princeton Single Family
$2 million Days on Market
Source: TrendMLS

116. Princeton Single Family
$2 million List to Sales Price Ratio
Source: TrendMLS

117. Princeton Single Family
$3 million+ Average Sales Price
Source: TrendMLS

118. Princeton Single Family
$3 million+ Days on Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017

119. Princeton Single Family
$3 million+ List to Sale Price Ratio
Source: TrendMLS

120. Princeton Single Family
Littlebrook Neighborhood
Average Sold Price
Source: TrendMLS

121. Princeton Single Family
Littlebrook Neighborhood
Average Days on Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017

122. Princeton Single Family
Littlebrook Neighborhood
List to Sale Price Ratio
Source: TrendMLS

123. Princeton Single Family
Riverside Neighborhood
Average Sales Price
Source: TrendMLS
2012 2013 2014 2015 2016 2017

124. Princeton Single Family
Riverside Neighborhood
Average Days on Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017

125. Princeton Single Family
Riverside Neighborhood
List to Sale Price Ratio
Source: TrendMLS

126. Source: NJAR 10K Research DataSource: NJAR 10K Research
Pton, Year over Year
2014 2015 2016 2017
Listed 442 475 472 431
Pended 305 299 316 297
Sold 303 278 293 294
Avg Sold
Price
$933 $1.1019 $1.023 $1.052

127. Source: NJAR 10K Research DataSource: NJAR 10K Research
Ewing
Train
Schools
Lifestyle
Affordability

128. Source: NJAR 10K Research DataSource: NJAR 10K Research

129. Ewing Market Activity
SingleFamily Homes
AverageSalePrice
Source: TrendMLS
2012 2013 2014 2015 2016 2017

130. Ewing Market Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS

131. Ewing Market Activity
SingleFamily Homes
List to Sale PriceRatio
Source: TrendMLS

132. Ewing Market Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS

133. Ewing Market Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS

134. Ewing Market Activity
Condos& Townhouses
List to Sale PriceRatio
Source: TrendMLS

135. Source: NJAR 10K Research DataSource: NJAR 10K Research
Ewing, Year over Year, Jan – May
2014 2015 2016 2017
Listed
Pended
Sold
Avg Sold Price

136. Source: NJAR 10K Research DataSource: NJAR 10K Research
Hamilton
Train
Schools
Lifestyle
Affordability

137. Hamilton Market Activity
SingleFamily Homes
AverageSalePrice
Source: TrendMLS

138. Hamilton Market Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS

139. Hamilton Market Activity
SingleFamily Homes
List to Sale PriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017

140. Hamilton Market Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS
2012 2013 2015 201720162014

141. Hamilton Market Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017

142. Hamilton Market Activity
Condos& Townhouses
List to Sale PriceRatio
Source: TrendMLS
2012 2013 2014 2015 2016 2017

143. Source: NJAR 10K Research DataSource: NJAR 10K Research
Hamilton, Year over Year, Jan – May
2014 2015 2016 2017
Listed 1539 1592 1643 1678
Pended 814 931 1053 1179
Sold 767 876 1000 1129
Avg Sold
Price
211 215 208 210

144. Source: NJAR 10K Research DataSource: NJAR 10K Research
Hopewell

145. Hopewell Twp
Single Family Average Sale Price
Source: Trend MLS
2012 2013 2014 20162015 2017

146. Hopewell Twp
Single Family
Average Days on Market
Source: Trend MLS
2012 2013 2014 20162015 2017

147. Hopewell Twp
Single Family
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017

148. Hopewell Twp
Condo/Townhouse
Average Sale Price
Source: Trend MLS
2012 2013 2014 20162015 2017

149. Hopewell Twp.
Condo/Townhouse
Average Days on Market
Source: Trend MLS
2012 2013 2014 20162015 2017

150. Hopewell Twp
Condo/Townhouse
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017

151. Hopewell Twp
Brandon Farms All Styles
Average Sale Price
Source: Trend MLS
2012 2013 2014 20162015 2017

152. Hopewell Twp
Brandon Farms All Styles
Average Days on Market
Source: Trend MLS
2012 2013 2014 20162015 2017

153. Hopewell Twp
Brandon Farms All Styles
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017

154. Source: NJAR 10K Research DataSource: NJAR 10K Research
Hopewell, Year over Year, Jan – May
2014 2015 2016 2017
Listed 452 477 428 483
Pended 242 260 271 295
Sold 212 248 271 293
Avg Sold
Price
$508 $510 $503 $475

155. The Local Market
Real Estate is Local
It’s Local to the Town
It’s Local to the Price Point
It’s Local to the Neighborhood/Development
It’s Local to the Street
Real Estate is Local

156. Strategies for
Buying and Selling
in Today’s Market

157. Source: NJAR 10K Research Data
When’s the best time to Buy/Sell?
Source: Trend MLS

160. Lawrence
12/9/17
Style Active Listings
Under Contract in
30 Days
Absorption Rate
0-500 43 11 3.9
Single Family
500-700 15 4 3.75
Single Family
700-999 5 0 99*
Single Family
$1.0+ 9 0 99*

161. Princeton Single Family
$1-1.5 million Average Sales Price
Open House Traffic
Source: TrendMLS

162. West Windsor SF Market Activity
12/9/17
Style Active Listings
Pending in last
30 Days
Absorption
Rate
SF
0-650
21 5 4.2
SF
650-799
6 0 99
SF
800-999 10 3 3.3
$1.0+ 2 0 99

163. Open House Report

164. Hopewell SF Market Activity
12/9/17
Style Active Listings
Pending in last 30
Days
Absorption Rate
SF
0-650
49 9 5.4
SF
650-799
15 0 99
SF
800-999 18 2 9
$1.0+ 21 0 99

165. Financial Services
Carlos A. Machado
Gold Services Manager
Princeton Office
NMLS #4384
Weichert Financial Services
908-307-8317
cmachado@weichertfinancial.com

166. •For Sellers: To make sure they have all the
information they need to choose an offer
•For Buyers: Buying Strategy, Buying Power &
Documentation
My Job…

167. As the seller, do I get to see the
pre-approval letter?
• The Pre-approval letter must be with all the offers.
• Cash deals should be accompanied with a "proof of funds"
which is a bank statement or letter from the bank or escrow
agent
• Make sure the letter is not a pre-qualification (this is only an
opinion letter)
• Let me help you review and confirm the pre-approvals you
have when you go to select an offer

168. Your Mortgage Loan Checklist
• Two Forms of identification (including 1 government
photo ID.
• Pay stubs for the past 30 days.
• Your most recent last two years' W-2.
• All pages of your signed personal tax returns, for the
two most recent years.
• All pages of your most recent bank statement.
• (sellers, make sure that this was done)

169. Negotiating Your Purchase

170. 2017
Top Buyer Negotiating Strategies…
1.Pay Now or Pay More Later (based on core market, schools,
trains and towns)
2.Don’t Wait to Offer on an ‘Over-Priced’ Home, its fun to
negotiate 1:1
3.Use an Escalation Clause in High-Demand Markets & in
multiple bid situations
4. ‘Thin Slice’ the Market. Get hyper local (ab rate,
inventory, pricing etc)

174. Buyer Negotiation Tips in a Fast Market
1. Understand the process before you start shopping.
2. Have mortgage pre-approval from a local, respected,
reliable lender
3. Put a significant amount in escrow if possible
4. Be as flexible as possible with your closing date
5. Remove as many contingencies as possible (inspection,
appraisel, etc)
6. Use an Escalation Clause

175. Weichert Financial
Carlos Alberto Machado
Gold Service Manager
cmachado@weichertfinancial.com
908-307-8317
Princeton Office
NMLS#4384

176. 2017
Top Seller Negotiating Strategies…
1.Stage it (Pretty it Up)
2.Fix it First (Pre Inspect)
3.Price it Right (Set the Market)
4.Stay in Control

177. All Negotiations, including real estate, are all about negotiation and control.
Home Pricing
Who is in control?

178. The process of preparing homes for sale
regardless of price, location, or condition
to achieve the maximum sales price in the
minimum marketing time.
The goal is to appeal to the broadest range of
BUYERS.
What is Home Staging?

179. Clean & In Good Repair

180. “Wow…. I could live here!”

181. Buyers Only Know What They See …

182. Home Staging
*Based on a StagedHomes.com survey of over 400 homes across Canada & the Continental US prepared for sale by an Accredited Staging Professional (ASP™) from June 2007 through November 2007.
The average increase in sales price of an ASP
Staged vs. non-Staged home is
6.9%
That is an additional $31,050 on a
$450,000 sale
“The investment in home staging is always less than your first price reduction!”

183. All Negotiations, including real estate, are all about negotiation and control.
Home Staging
Who is in control?

184. The Impact of Inspection & Repairs
on the Salability of Your Home..…
A Certified Home Inspector’s report will review:
Condition of the home's HVAC, Plumbing and Electrical Systems
The roof, attic, and visible insulation
Walls, ceilings, floors, windows and doors
The foundation, basement, and visible structure
It will also advise if any potential environmental hazards were observed

185. • Why do a Pre-Inspection?
– Fix/ Disclose/ Permit EVERYTHING before going on
market
– Removes buyer objections/ fears
– Reduce the risk of going ‘off market’ for a buyer
who ends up killing the deal
– You stay in control
Pre-Inspection

186. All Negotiations, including real estate, are all about negotiation and control.
Pre - Inspection
Who is in control?

187. The Impact of Your Initial List Price

188. • Promotes a sense of urgency among buyers & agents
(fear of loss)
• Generates interest and showings
• Sets the stage for multiple offers in the first 30 days
• Offers tend to be higher in relation to list price
• Results in highest price in shortest time
Effects of “Right” Pricing

189. • Buyer excitement diminishes quickly
• Extends time house is on the market
• Results in price reductions
• May attract “bargain hunters” and discounted offers
• Results in a lower selling price
Effects of Over Pricing:

190. Negotiations are about leverage, use the listing
price as yours…
PTA suggested Market Value of
$840,000
Ab Rate of 12.5 months
Listed at $799,500
1 day on the market
4 Offers
Bidding wrapping up today
The seller had control
West Windsor

191. Negotiations are about leverage, use the listing
price as yours…
5 Lost Trail: listed by another Broker on
7/31/16 for $695,000. Decrease price
on 9/24/16 to $650,000. Listing with
Broker expired on 2/28/2017 after being
on the market for 216 days.
Wct listed their property on 4/7/2017 at
$680,000. Used Professional
photography & 3D Matterport,
recommended contractor work to be
done, used professional staging,
Property went to pending on 4-22-
17------closed on 5-19-17 at $10,000
over listed price $690,000 after
receiving multiple offers.
Lawrence

192. Princeton
36 Mercer St.
The Price Trend Analysis suggested Market Value of $1.250
We recommended listing at $1.1 million

193. Princeton
36 Mercer St.
• Pre-inspection
• Staged
• Right Pricing
Sold for $1.350 million, cash in 7 days. No contingencies.

194. Hamilton
1715 Silver Ct.
Hamilton N J 08690
2 Bedroom 1.5 Baths
Presented at $115,000
Listed 6/5/17---
1 open house 6/10/17 received multiple offers starting
6/11/17 at full asking and then at over asking contract
signed on 6/14/17---Closing date of 7/17/17

195. Hamilton
Two other units on the
market for sale in the
same community-1 at
$122,000 was on
originally at $129,000
so far for 166 days.
(listing broker placed this one photo
on the Internet)

196. Hamilton
---the other at
$112,900 so far on for
66 days
(listing broker placed
one photo on the MLS)

197. Negotiations are about leverage, use the listing
price as yours…
Listed at $544,900
Reduced to $535,000
Reduced to $509,000
Reduced to $499,000
96 Days on Market
1 Offer
Sold for $490,000
The buyer had control

198. Fall Thru Analysis
Reason for Fall Thru Total # Fall Thrus % of Total Fall Thrus
Home Inspection 659 39.2%
Buyer Financing 416 24.8%
Buyer Changed Mind 185 11.0%
Attorney Review 72 4.3%
Appraisal 71 4.2%
Contingency of buyer/seller house purchase 44 2.6%
Short Sale Declined 39 2.3%
Another offer (buyer) came in 30 1.8%
Seller Changed Mind 23 1.4%
HOA Docs or Board not approved 21 1.3%
Buyer/Seller Passed Away or illness 14 0.8%
Foreclosure or Bankruptcy 14 0.8%
Title Issues 13 0.8%
Deal Came Back together & Closed or Set to Close 11 0.7%
Other 36 2.1%
Unknown 31 1.8%
Total 1679* 100%

199. Weichert Family of Companies
What will a real estate
company do for me?

200. Source: 2012 NAR Profile of Home Buyers and Sellers
This is
where
you win
or lose
the sale

201. Making Your Purchase as
Smooth as Possible
Buying a home involves the careful
coordination of many people.
Choosing a real estate team you can
count on will make the process smoother
and easier.

202. Thank you
for your time today

203. Resource and Website ListResource and Website List
www.trendmls.com
www.realtor.org
www.njar.com
www.Otteau.com
www.Pre-listing-inspection.com
www.Housemaster.com
www.Stagingshoppingcenter.com
www.realtytrac.com
www.njar.com/10k
www.keepingcurrentmatters.com
https://education.state.nj.us/pr/