September - November 2011 Closings for Area Towns

Hello, I hope everyone is enjoying this relatively mild weather!  How nice after the blizzard in late October.  I've been on a bit of a hiatis, with a bunch of family issues and very busy with business. Regardless of what you read, it's been a fairly active year in real estate. With so many properties on the market, my buyers have been doing plenty of due diligence to zero in on just the right property. There are buyers out there - a lot of them - they are just taking more time to make a decision.  Since purchasing a home is such a major financial and personal decision, it's prudent.

Homes go under deposit quickly when they reach the "sweet spot" - the price position where buyers feel there is significant value in the property relative to what else is out there. We had that happen recently in our office with a number of properties - multiple offers - competition!  Like water, sweet spot prices find their own equilibrium. When a property is priced at the buyer perception of value or strategically priced slightly below it, there is demand for the property and that demand drives prices up.  I recently had a 3 family house in Westville close $26K over list price.  The Sellers were thrilled as you can imagine.  It went under contract in 9 days.  Had I listed it at the price it sold for, more than likely it would have sat and become an aged listing. But because it was strategically priced to based on the timeframe and financial objectives of my client, it attracted a lot of attention immediately and there was competition for it.  This competion drove the price up dramtically.  The Buyers were thrilled because they "got it" and the Sellers received the highest price possible in the market condition.  Win/Win/Win. 

Attached is what's been going on with listed properties in area towns.  Any questions? Facebook me at carolcangiano or email me at carolcangiano.com.    Happy Holidays!