Tag - sale

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Not Sure How to Price Your Home? Avoid Mistakes With These Tips
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ST. LEONARD’S TRACT, VENTNOR NJ, A SHORT A HISTORY
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“Puppy Bowl” always a win for animal shelters
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MARK ARBEIT AND CO. LOVES MARGATE, NJ
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Marven Gardens Happy 90th Birthday!
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For Sale Grand St. Leonard’s Tract Home, Ventnor, NJ by Mark Arbeit
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9101 Atlantic Ave # 201 Margate NJ | MLS # 404552-Mark Arbeit and Co.
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Open Houses in Margate, NJ by MARK ARBEIT AND CO.
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I hate New Year’s Eve. Or rather, I hate what New Year’s Eve has become. Oh the pressure to have fun……
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What’s Your New Year’s Resolution for the House?

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

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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

ST. LEONARD’S TRACT, VENTNOR NJ, A SHORT A HISTORY

St. Leonard’s Tract is more than a group of streets in Ventnor named for English dukes; the section is an early example of a planned community with a homeowner’s association. Although the St. Leonard’s Land Company incorporated in 1896, the St. Leonard’s Association (SLA) was founded in 1921. Its restrictions provided that living quarters for servants could be built over garages, no building could be used as a slaughterhouse or piggery and its lands could not contain buildings used as institutions, including any “establishment for mental defectives

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“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.

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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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9101 Atlantic Ave # 201 Margate NJ | MLS # 404552-Mark Arbeit and Co.

This 2 bedroom 2 bath unit JUST HAD A TOTAL MAKE OVER…and IT IS GORGEOUS!!! NEW CARPET…NEW PAINT…NEW DECOR!!! and get this it’s the LARGEST UNIT IN THE BUILDING!!!

Picture windows face unobstructed ocean views from the spacious living room with wood burning fireplace and the open floor plan features a gourmet kitchen with granite kitchen center island.

Enjoy ocean views & sea breezes from the balcony. Just 50 steps to the beach & best

restaurants. Includes its own storage unit & 2 car parking. Pet friendly. LOW CONDO FEE.

Open Houses in Margate, NJ by MARK ARBEIT AND CO.

I hate New Year’s Eve. Or rather, I hate what New Year’s Eve has become. Oh the pressure to have fun……

Much is said about Christmas being turned into a mess of commercialism and thing- hoarding. But hot on its heels is New Year’s Eve. Hollywood and everyone else has made a mini-industry of propagating the notion that Dec. 31 is a magical night full of expectation and promise (Thank you “When Harry Met Sally”). A night when anything can happen. A night when love blossoms unexpectedly, when your problems evaporate, when a ball in Times Square drops and your life changes in an instant. (Remember “Poseidon Adventure”)

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What’s Your New Year’s Resolution for the House?

January 1 provides us with a proverbial blank slate, but it often brings an accompanying sense of dread. It’s time for New Year’s resolutions, but instead of dealing with yet another diet or expensive gym membership, bring your resolutions home this year. Committing to improving your house (and we’re not just talking about de-cluttering) could drastically improve your quality of life

We want to know: What New Year’s resolutions are you making for your home?

Maybe you just want to enjoy your home more and feel truly happy in it. That could mean finally choosing a new color for the living room.

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