Tag - real estate

1
Not Sure How to Price Your Home? Avoid Mistakes With These Tips
2
Open Houses This Weekend
3
4 Ways The Real Estate Market Changes After Labor Day
4
4 Real Estate Lessons From Old-School Board Games
5
The Worst Home-Selling Advice People Actually Believe
6
“Puppy Bowl” always a win for animal shelters
7
MARK ARBEIT AND CO. LOVES MARGATE, NJ
8
Marven Gardens Happy 90th Birthday!
9
Condos for Sale in Margate, Ventnor, Longport and, Atlantic City, NJ
10
For Sale Grand St. Leonard’s Tract Home, Ventnor, NJ by Mark Arbeit

Not Sure How to Price Your Home? Avoid Mistakes With These Tips

shutterstock_115491706

Pricing based on data, not emotion, can mean a swift sale.

You don’t need to be Bob Barker to know when the price just isn’t right. Just ask Candace Talmadge. She originally listed her Lancaster, Texas, home for $129,000, but “eventually had to accept the market reality” and chop $4,000 off the price.
The home’s location proved challenging: Buyers were either turned off by the area — a lower-income neighborhood south of Dallas — or unable to afford the home.

“Sellers have to keep in mind the location,” says Talmadge. “Who are going to be the likely buyers?”

Home pricing is more of a science than an art, but many homeowners price with their heartstrings instead of cold, hard data. Here’s why crunching the numbers is always the better route to an accurate home price — as well as what can happen when home sellers overlook those all important data points.

The Pitfalls of Overpricing

Homeowners often think that it’s OK to overprice at first, because — who knows? — maybe you’ll just get what you’re asking for. Although you can certainly lower an inflated price later, you’ll sacrifice a lot in the process. The most obvious damage: A house that remains on the market for months can prevent you from moving into your dream home. Already purchased that next home? You might saddle yourself with two mortgages.

“You lose a lot of time and money if you don’t price it right,” says Norma Newgent, an agent with Area Pro Realty in Tampa, Fla.

And worse: Continually lowering the price could turn off potential buyers who might start wondering just what is wrong with your home.

“Buyers are smart and educated,” says Lisa Hjorten of Marketplace Sotheby’s International Realty in Redmond, Wash. “You’re probably going to lose them.”9409 Winchester copy

The Pricing Traps

It’s easy for homeowners to stumble into two common traps:

  1. Conflating actual value with sentimental value — how much they assume their home’s worth because they lived there and loved the time they spent there.
  2. Assuming renovations should result in a dollar-for-dollar increase in the selling price — or more.

“Many homeowners think, ‘Of course my home is worth a bazillion dollars,’” says Newgent. If they put in a few thousand dollars worth of new flooring, for example, they might overestimate the upgrade’s impact on the home’s value into the tens of thousands.

Talmadge’s Texas home came with a built-in renovation trap: It was already the nicest home in the area, making it harder to sell. Major additions had inflated the square footage — and the price, according to one appraiser — without accounting for the surrounding neighborhood. That created a disconnect for buyers: Wealthier ones who might be interested in the upgraded home disliked the neighborhood, and less affluent buyers couldn’t afford the asking price.

“Don’t buy the nicest home on the block” is common real estate advice for this reason.

That’s not to say that renovations aren’t worth it. You want to enjoy your home while you’re in it, right? Smart renovations make your home more comfortable and functional but should typically reflect the neighborhood. A REALTOR® can help you understand what certain upgrades can recoup when you sell and which appeal to buyers.

Another culprit for many a mispriced home is online tools, like Zillow’s “Zestimate,” that prescribe an estimated market value based on local data.

The estimate is often wildly inaccurate. A Virginia-area real estate company, McEnearney & Associates, has compared actual sold prices with predicted online estimates for several hundred homes in the area for the past few years and concluded the predictions failed half of the time.5117 Winchester

The Right Stats for the Right Price

The best pricing strategy? Consult a real estate agent, who will use something called comps (also known as “comparable sales”) to determine the appropriate listing price. They’re not just looking at your neighbors; they’re seeking out near-identical homes with similar floor plans, square footage, and amenities that sold in the last few months.

Once they’ve assembled a list of similar homes (and the real prices buyers paid), they can make an accurate estimate of what you can expect to receive for your home. If a three-bedroom bungalow with granite countertops and a walk-out basement down the block sold for $359,000, expecting more from your own three-bedroom bungalow with granite countertops and a walk-out basement is a pipe dream.

After crunching the data, they’ll work with you to determine a fair price that’ll entice buyers. The number might be less than you hope and expect, but listing your home correctly — not idealistically — is a sure way to avoid the aches and pains of a long, drawn-out listing that just won’t sell.

Knowing When the Price is Too High

Once your home is on the market, you’ll start accumulating another set of data that will serve as the ultimate price test: how buyers react.

Agent Hjorten says there’s an easy way to tell if you’ve priced too high: “If we have no showings, it’s way too high. Lots of showings and no offer means you’ve marketed well — but it’s overpriced once people get inside.”

Talmadge didn’t struggle with showings. She says a number of people were interested in the home, but not enough at the price. In the end, Talmadge sold her home for $125,000, with a $5,000 seller’s assist, a discount on the cost of the home applied directly to closing costs.

“It all boils down to location, location, location. In [another] neighborhood, our house might well have sold for well over $130,000,” Talmadge says.

 

Article Re-posted from Houselogic.com

Open Houses This Weekend

Check out our Open Houses this weekend throughout Margate and Ventnor!

9409 WINCHESTER AVENUE, UNIT B, MARGATE, NJ

9409 Winchester copy

Saturday, Sept. 10  •  11 AM – 1 PM

4 BR / 3.5 BA  •  $635,000

Over 3,100 square feet of living space

6 S. LAFAYETTE AVENUE, VENTNOR, NJ

Ventnor Shore Home

Saturday, September 10  •  11 AM – 1 PM

4 BR / 2.5 BA  •  $585,000

Totally renovated, 1.5 blocks to beach & boards


6 S. FREDERICKSBURG AVENUE, MARGATE, NJ

Margate Shore Home with Porch

Saturday, Sept. 10  •  11 AM – 1 PM

3 BR / 1.5 BA  •  $550,000

1 block to beach


274 E GREAT CREEK ROAD, GALLOWAY TWP, NJ

Galloway Home with Pool Saturday, Sept. 10 • 11 AM – 1 PM

4 BR / 1 BA  •  $199,000

Enormous fenced yard with in ground pool


5117 WINCHESTER AVENUE, VENTNOR, NJ

Water Front Home in Ventnor

Sunday, Sept. 11  •  11 AM – 1 PM

3 BR / 2.5 BA  •  $585,000

Panoramic water views

 


38 N. FRONTENAC AVENUE, MARGATE, NJ

New Construction Home Jersey Shore

Saturday, Sept. 11  •  11 AM – 1 PM

5 BR / 4 BA  •  $865,000

New construction, 3.5 blocks to beach

 


8802 AMHERST AVENUE, MARGATE, NJ

Parkway Home Margate

Sunday, Sept. 11  •  11 AM – 1 PM

5 BR / 3 BA  •  $699,000

Totally renovated Parkway home

4 Ways The Real Estate Market Changes After Labor Day

Parkway Brick Home MargateThe summer home-buying frenzy wanes after Labor Day, but you can still take advantage of what the fall season offers.

The time between Labor Day and Thanksgiving, unofficially known as fall, is prime time for enjoying the great outdoors. And while there’s no substitute for spending time in natural green spaces, if you’re in the market for a house, fall weather presents an ideal backdrop for strolling through potential neighborhoods and checking out real estate for sale in Atlanta, GA, or Minneapolis, MN.

While some homeseekers might throw in the towel after Labor Day and wait until spring to begin a new search, others will find some definite advantages to starting their home pursuit in September. Find out how the market changes after Labor Day and what makes it a pivotal day for the real estate industry.

1. Fall real estate can be more of a buyer’s market

A buyer’s market means you, as a buyer, are in the driver’s seat. That’s good news if you’re home-hunting in the fall: There are typically fewer buyers after Labor Day. “This, of course, is dependent upon local market cycles,” says Michael Kelczewski, a Pennsylvania and Delaware agent. “But typically, families need to be settled into a home by the start of the school year.” And the date school starts can’t be moved. “This results in plenty of ‘fun’ conversations between spouses, as there’s no negotiating when they need to be in the house,” Connecticut agent Scott Elwell says.

But if you don’t have school-age kids, the school year doesn’t matter and you can take advantage of this. You might find that competition is down for homes after Labor Day, meaning you’re probably in a buyer’s market. And this is significant. “I find that I am able to negotiate better prices for buyers [during September and October] because we have less competition and the market is slower,” says Joan Brothers, an agent in New York, NY.

2. Vacation-home sellers see action

Summertime is prime vacation season. Even Congress breaks for the entire month of August. After you’ve had a particularly lovely time at your summer getaway spot, you might consider buying a place in the area and going back every year. “If you start looking for a vacation home in the fall, you can have it purchased and furnished by spring,” says Tammy Berry, director of sales and marketing for Heritage Harbor Ottawa resort in Illinois. By purchasing in the fall, you can see what the area has to offer in the off-season.

Winter is also a popular vacation time, particularly for skiers and people who love ice-skating and snow tubing. If you buy at a ski resort in the fall, you can enjoy the resort yourself or earn some serious dollars renting the place to winter-wonderland enthusiasts. “Resort communities, like in Colorado and the Rocky Mountains, offer robust winter rentals,” says Tricia Mccaffrey Hyon, a Colorado agent. “Purchasing in the fall allows a buyer to see immediate rental income from their property during peak holiday times.”

3. Home prices, like leaves, fall

Many people list their home for sale during what they think will be the best time to sell: summer. And it often is. “Summer is peak selling season,” Mccaffrey Hyon says. But not everyone is successful. “When a property hasn’t sold by Labor Day, sellers will reevaluate asking prices, creating greater room for negotiation.”

4. There’s no deadline for most fall home buyers

When you’ve picked a certain neighborhood because of the school district for your kids, it’s imperative that you are actually in your home before school begins. But if the first day of school is not your concern, you don’t really have a deadline. You might want to be in a home before the holidays, but the stakes aren’t as high if you aren’t. “Plenty of buyers have aspirations of moving in by certain holidays,” Elwell says. “But that can always be adjusted depending on the financial implications.” Let’s say you prefer to be in your new home by Thanksgiving, but you can get a better deal if you wait. You’ll probably adjust accordingly, Elwell says.

Have you bought a house during the fall real estate market? Tell us about your experience in the comments!

Re-posted From Trulia.com
http://www.trulia.com/blog/fall-real-estate-market-characteristics/
By Laura Agadoni| September 5, 2016

4 Real Estate Lessons From Old-School Board Games

dice-dominoes-and-game-pieces

The real estate game is all about taking risks and trying not to run into trouble.

Playing old board games with friends is a fun way to spend a Saturday night. The drinks are flowing, the snacks are as plentiful as the laughs, and the spirit of competition keeps everyone a little livelier than usual.

During one wildly successful board game night, we had an epiphany — some of the skills we use when playing could be applied to a search for a home for sale. Get out your egg timers and your velvet satchels full of wooden letter tiles, because we’re about to lay some gaming knowledge on you.

1. Have a strategy (and allies)

The real world isn’t always candy-themed. Unless you’re playing a game where you rely on the luck of the dice to move you along, you’re going to need a strategy. Are you coming in hot and trying to build an early lead? Or are you lying a little low, waiting to see how the game unfolds, and then striking at precisely the right moment? The exact same thing applies to house hunting.

Bold and aggressive? Buy low on a fixer-upper and make something amazing out of it. More conservative? Prepare for the long haul to find the right match that you’re willing to pay a premium on. Get your strategy straight with the help of an ally in the form of a real estate agent — a third party who’s not directly playing the game but is there when you need guidance. Check those boxes, and you’re on the way to winning this thing.Dice-Roll

2. Sometimes you need a little luck

Sometimes in the real estate world, you can do everything right but still find yourself on the house hunt six months later. The truth is, finding a home often requires luck. And there’s not much you can do to encourage the luck factor except hope to get lucky. In board games, it’s a dice roll or the spin of a plastic wheel. In house hunting, it might be that the offer ahead of yours falls through or you just happen to get your offer in five minutes before someone else. One of the tenets of Stoic philosophy is to try to control only what you can control, and it’s a perfect match for house hunting. Do your best but don’t stress about what’s out of your control. It won’t help you and it will only make you anxious.

3. Don’t make emotional decisions

We’ve all been there. You don’t have the cards, the dice have been coming up snake eyes, and your pink plastic dude is so many spaces behind. This is not the time to dwell on those feelings. Swallow the despair and double down on the comeback run that you have in you.

House hunting is no different. You’re going to lose a house that you put an offer on. Maybe several of them. And sometimes, you’ll lose a bidding war on a home you’d already started dreaming about moving into. Don’t get frustrated and settle for something you don’t want or a place with serious red flags. This is going to be one of the largest purchases you ever make in your life. Breathe deep and make these decisions with your head on straight and your eyes wide open.

monopoly-pieces-500x2734. Be in it to win it

In a board game, it’s easy to get caught up in the superdope-looking board or choosing between the silver top hat or the silver Scottie dog. Those are just distractions. You’re a coldhearted winner; you’re not here to make friends (although, ironically, you’re probably playing those old board games with your friends). You’re in this thing for one reason and one reason only: to crush the competition. Don’t forget that when house hunting either. It’s fun to look at places and check out the market, but don’t get caught up in seeing every Southwestern ranch-style home in the city when what you really need is your home.

Go forth and use these lessons like trump cards on your way to your dream house. Just don’t forget to consider a board game closet.

 

Article Re-posted from Trulia.com

The Worst Home-Selling Advice People Actually Believe

You’ve made the monumental decision to sell your house. Congrats! Now brace yourself for the onslaught of “been there, done that, you must do this” advice. It pours forth from just about everyone who’s ever bought a house, sold a house, or binge-watched three straight seasons of “Love It or List It.”Let us give you our own little piece of advice: Don’t take everyone’s advice! While friends, family, and the occasional stranger love to wax poetic on how to best sell a home, their 2 cents could end up costing you a bundle.

To make sure you sell your home without a hitch, we’ve compiled these examples of the worst home-selling advice you might hear, and why they could ruin your chances. Beware!

2 S. Dudley Avenue, Ventnor

People are in the market for a new home 365 days a year.

‘Sell your home only in the spring or summer’

Why you might hear this: Spring is the time to get things done! Plus, long recesses in the school calendar and long holiday weekends, leading into summer vacation, mean these two seasons are prime time for buyers to look at homes.

Why it’s bad advice: Not everyone has kids and not everyone observes the Judeo-Christian holidays. So while spring and summer do inspire more activity, in the end people just want the right house.

“Once they find that, they will make the timing work,” says Kathy Braddock, managing director of William Raveis in New York City. The truth is, buyers are “looking 24/7/365 on their phones at home in their bunny slippers late at night.”

Read more about how the market changes after Labor Day here.

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‘The market’s slow, so you’re better off waiting until it heats up to sell’

Why you might hear this: You want to sell when the market’s hot, right? So if it’s not, you’re better off hunkering down and waiting it out.

Why it’s bad advice: Everything from natural disasters to rate hikes to election results can turn the market on its ear at any time and greatly affect your home price. “If you need to sell, there is no better time than the present,” says Evelina K. Vatkova, associate partner at Partners Trust in Beverly Hills, CA.

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‘Don’t stage or fix anything up—let buyers use their imagination’

38 N. Frontenac Kitchen

Professionally staged and photographed new construction at 38 N. Frontenac Avenue.

Why you might hear this: Hey you’re moving out! Do you really want to paint that stained wall you’ve neglected for three years for someone else to enjoy?

Why it’s bad advice: Let’s get back to reality here—few people can actually imagine anything beyond what’s in front of them. Those buyers with the ability to mentally fix up a joint “usually don’t want to be bothered, or don’t trust their instincts, so they move on,” says New York–based decorator and stager Marie Graham. She likens unprepared homes to bad first dates where the person shows up late and didn’t bother to comb their hair or use antiperspirant. “Buyers want to feel they are valued.”

———

‘Camera phone photos are just fine for a listing’

Why you might hear this: You got 86 likes on that latest Instagram, right? You can definitely nail a killer picture of your bathroom.

Why it’s bad advice: “Everything rides on listing photos,” says Graham. Think about it—photos are, in essence, your first showing and what will drive traffic. Cellphones just don’t have the range of photo technology to make your home pop. And you, my friend, are (most likely) not a professional photographer.

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Mark Arbeit And Co Marketing

Mark Arbeit And Co markets your home using social media, local mailings, newspaper advertising and more!

‘The market is so hot, you don’t need an agent’

Why you might hear this: You’ve seen those signs in people’s yards that read “For Sale By Owner.” Hey, it seems like a good idea! How hard can selling a home be? And you’ll pocket that Realtor® commission fee.

Why it’s bad advice: This can really backfire on sellers—and that’s if they get their house to close at all. While you may indeed be able to snag a buyer, working out the many, many, many details of the actual sale is where things get complicated. Closing means dealing with everything from the bank’s appraisal coming in too low to haggling over inspection items—all of which involve negotiation best gleaned from years of experience.

“In short, the savings don’t amount to anything if you never sell the house,” says Atlanta-based Realtor Bill Golden, with Re/Max Metro Atlanta Cityside.

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‘You should hire this person I know who’s an agent’

Why you might hear this: Your friend’s mother’s best friend’s daughter heard of a great real estate agent from her dog’s chiropractor. What could go wrong?

Why it’s bad advice: Hiring an agent is like interviewing someone for any other job: You want the right person for your needs, period. Hiring solely on the basis of a relationship is just a lot of baggage; personal relationships can often complicate getting the job done in the best, most profitable way.

 

Article Re-posted from Realtor.com

“Puppy Bowl” always a win for animal shelters

There will be a winner and a loser every Super Bowl Sunday. But at the “Puppy Bowl,” it’s always a win for animal shelters.

The show provides national exposure to the shelters across the country that provide the puppy athletes and the kittens that star in the halftime show, and introduces viewers to the different breeds and animals that need homes, animal workers say. Many shelters see bumps in visits from viewers who are inspired to adopt a pet.

Click Here To Check Out…Puppy Bowl…

MARK ARBEIT AND CO. LOVES MARGATE, NJ

ADDRESS         DATE       REPRESENTING
22 N. Lancaster Avenue, Margate

1/5/12

Seller & Buyer

7 N. Thurlow Avenue, Margate

2/10/12

Buyer

411 N. Rumson Avenue, Margate

2/14/12

Buyer

9600 Atlantic Avenue, Unit 1612, Margate

3/1/12

Seller

9 Bayshore Court, Margate

3/2/12

Seller

1 S. Douglas Avenue, Margate

3/5/12

Seller

211 N. Nassau Avenue, Margate

3/15/12

Seller

7803 Bayshore, Margate

3/23/12

Buyer

402 N. Clarendon Avenue, Margate

3/26/12

Seller & Buyer

404 N. Clarendon Avenue, Margate

3/26/12

Seller & Buyer

116 N. Belmont Avenue, Margate

3/27/12

Seller

6 Baycrest Drive, Margate

4/4/12

Buyer

319 N. Union Avenue, Margate

4/5/12

Seller

214 N. Lancaster Avenue, Margate

4/11/12

Seller

606 N. Delevan Avenue, Margate

4/20/12

Buyer

11 N. Madison Avenue, Unit B Margate

4/27/12

Seller & Buyer

9 S. Brunswick Avenue, Margate

4/30/12

Buyer

16 N. Jasper Avenue, Margate

5/11/12

Seller

215 N. Washington Avenue, Unit 1, Margate

5/18/12

Seller

215 N. Washington Avenue, Unit 2, Margate

5/19/12

Seller

215 N. Washington Avenue, Unit 4, Margate

5/20/12

Seller & Buyer

9600 Atlantic Avenue, Unit 715, Margate

5/21/12

Buyer

9600 Atlantic Avenue, Unit 715, Margate

5/24/12

Seller

11 N. Rumson Avenue, Margate

5/29/12

Buyer

215 N. Washington Avenue, Unit 3, Margate

6/22/12

Seller & Buyer

23 S. Monroe Avenue, Unit A, Margate

6/22/12

Seller

121 N. Hanover Avenue, Margate

6/26/12

Seller & Buyer

121 N. Clarendon Avenue, Margate

6/28/12

Buyer

15 N. Exeter Avenue, Margate

6/28/12

Seller

22 N. Huntington Avenue, Margate

6/29/12

Seller

6 N. Adams Avenue, Unit 5, Margate

7/2/12

Buyer

116 S. Lancaster Avenue, Margate

7/20/12

Seller

7508 Freemont Avenue, Margate

7/21/12

Buyer

36 N. Douglas Avenue, Margate

8/15/12

Seller

20 N. Lancaster Avenue, Margate

9/4/12

Buyer

9510 Amherst Avenue, Unit 116, Margate

9/7/12

Seller

14 N. Exeter Avenue, Margate

9/12/12

Buyer

13 N. Rumson Avenue, Margate

10/19/12

Buyer

121 N. Iroquois Avenue, Margate

10/20/12

Buyer

9600 Atlantic Avenue, Unit 1019, Margate

11/19/12

Seller

9400 Atlantic Avenue, Unit 1008, Margate

11/30/12

Seller

114 S. Rumson Avenue, Margate

12/7/12

Buyer

9202 Ventnor Avenue, Margate

12/14/12

Buyer

Marven Gardens Happy 90th Birthday!

Marvelous Marven Gardens Happy 90th Birthday!

Marvelous Marven Gardens is a neighborhood neatly tucked in between the beginning of Margate City and the south end of Ventnor, Marven Gardens is a one of a kind community that has attracted the attention and admiration of many people ranging from Hollywood filmmakers to Charles Darrow, the inventor of Monopoly, to the residents who have called it home for the last 90 years.

Read More

Condos for Sale in Margate, Ventnor, Longport and, Atlantic City, NJ

For Sale Grand St. Leonard’s Tract Home, Ventnor, NJ by Mark Arbeit

Just 7 HOUSES TO THE BEACH and situated on a 50 x 125 lot few houses offer the kind of grandeur and potential of this stately 3 story St. Leonard’s Tract home.

The 1st floor features a wrap around enclosed sun room, an expansive living room with fireplace and coffered ceiling, spacious formal dining room and large eat in kitchen with butler’s pantry.

There are 6 bedrooms and 3.5 baths and many bonus rooms. The rooms are all large and there are original hardwood floors through out the house. Full finished basement, detached 2 car garage and parking for 4+cars.

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© 2014 Mark Arbeit and Co Atlantic City, Margate, Ventnor and Longport Beach NJ Real Estate. All Rights Reserved.