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Princeton Area
Real Estate Market Update
October 2018
Josh Wilton
Weichert Realtors
Agenda
The Market, State, County and Local
Process and Strategies for Buyers and Sellers
Real Estate Market Update
Agenda
Real Estate follows the
jobs
Market Update
Market Update
Real estate experts and economists agree sellers will continue to hold the cards
 With inventory at historically low leve...
First-Time Homebuyers make up
Majority of 2017 (2018) Home buyers*
• 52% First Time Homebuyers
• 61% Millennial Buyers (35...
The boom….The New Jersey MarketThe Statewide Picture
Listings 2018 Pending Sales 2018
Closed Homes2018
The Local Markets
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 ...
The boom….The Local MarketThe Local Picture
Long Term Demand …
Source: NAR, November 2008 Forecast
http://lwd.dol.state.nj.us/labor/lpa/pub/factbook/merfct.pdf
Long T...
http://lwd.dol.state.nj.us/labor/lpa/content/njsdc/2013WU%20PopLFProj2030.pdf
Mercer/ Middlesex County
Real Estate Market Drivers
1. Trains/Schools/Affordability
2. Schools/Trains/Affordability
3. Con...
Plainsboro
Real Estate Market Drivers
1. Trains/Schools/Affordability
2. Schools/Trains/Affordability
3. Convenience/Town ...
Source: Middlesex MLS
Source: NJAR 10K Research Data
Plainsboro, Year over Year
Plainsboro Market Activity
Single Family Homes
Average Sale Price
Source: Middlesex MLS
Plainsboro Market Activity
Single Family Homes
Average Days on Market
Source: Middlesex MLS
Plainsboro Market Activity
Condos & Townhouses
Average Sale Price
Source: Middlesex MLS
Plainsboro Market Activity
Condos & Townhouses
Average Days on Market
Source: Middlesex MLS
Plainsboro Market Activity
Walker Gordon Farm
Average Sale Price
Source: Middlesex MLS
Plainsboro Market Activity
Walker Gordon Farm
Average Days on Market
Source: Middlesex MLS
Plainsboro Market Activity
Princeton Landing Condo/Townhouse
Average Sale Price
Source: Middlesex MLS
Plainsboro Market Activity
Princeton Landing Condo/Townhouse
Average Days on Market
Source: Middlesex MLS
Plainsboro Market Activity
Princeton Landing
Single Family Average Sales Price
Source: Middlesex MLS
Plainsboro Market Activity
Princeton Landing
Single Family Average DOM
Source: Middlesex MLS
Source: NJAR 10K Research Data
Plainsboro 1/1/18-09/30/18
Plainsboro 1/1/17-09/30/17
Plainsboro
All Styles
Source: NJAR 10K Research Data
West Windsor
Train
Schools
Lifestyle
Affordability
Source: Middlesex MLS
Source: NJAR 10K Research
WW, Year over Year
West Windsor Market Activity
Single Family Homes
Average Sale Price
Source: Trend MLS
West Windsor Market Activity
Single Family Homes
Average Days on Market
2012 2013 2014 2015 2016 2017
Source: Trend MLS
20...
West Windsor Market Activity
Single Family Homes
List to Sale Price Ratio
Source: Trend MLS
West Windsor Market Activity
Condos & Townhouses
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend MLS
2018
West Windsor Market Activity
Condos & Townhouses
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 20...
West Windsor Market Activity
Condos & Townhouses
List to Sale Price Ratio
2012 2013 2014 2015 2016 2017
Source: Trend MLS
...
West Windsor Market Activity
Condo/ Townhouse– Canal Pointe
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend...
West Windsor Market Activity
Condo/ Townhouse– Canal Pointe
Days on Market
2012 2013 2014 2015 2016 2017
Source: Trend MLS...
West Windsor Market Activity
Condo/ Townhouse– Canal Pointe
List to Sale Price Ratio
2012 2013 2014 2015 2016 2017
Source:...
West Windsor Market Activity
Canal Pointe – Single Family
Average Sale Price
2012 2013 2014 2015 2016 2017
Source: Trend M...
West Windsor Market Activity
Canal Pointe – Single Family
Average Days on Market
Source: Trend MLS
West Windsor Market Activity
Canal Pointe – Single Family
List to Sale Price Ratio
Source: Trend MLS
West Windsor Market Activity
Single Family – Estates @ Princeton Jct
Average Sale Price
Source: Trend MLS
West Windsor Market Activity
Single Family – Estates @ Princeton Jct
Average Days on Market
Source: Trend MLS
West Windsor Market Activity
Single Family – Estates @ Princeton Jct
List to Sale Price Ratio
Source: Trend MLS
West Windsor Market Activity
Single Family – 0-$650,000
Average Sales Price
Source: Trend MLS
West Windsor Market Activity
Single Family – 0-$650,000
Average Days on Market
Source: Trend MLS
West Windsor Market Activity
Single Family – 0-$650,000
List to Sale Price Ratio
Source: Trend MLS
West Windsor Market Activity
Single Family – $650,000-$874,999
Average Sales Price
Source: Trend MLS
West Windsor Market Activity
Single Family – $650,000-$874,999
Average Days on Market
Source: Trend MLS
West Windsor Market Activity
Single Family – $650,000-$874,999
List to Sales Price Ratio
Source: Trend MLS
West Windsor Market Activity
Single Family – $875,000-$1,100,000
Average Sales Price
Source: Trend MLS
West Windsor Market Activity
Single Family – $875,000-$1,100,000
Average Days on Market
Source: Trend MLS
West Windsor Market Activity
Single Family – $875,000-$1,100,000
List to Sales Price Ratio
Source: Trend MLS
Source: NJAR 10K Research Data
West Windsor 1/1/18-09/30/18
West Windsor 1/1/17-09/30/17
West Windsor
All Styles
East Windsor
Train
Schools
Lifestyle
Affordability
Source: NJAR 10K Research DataSource: NJAR 10K Research
EW, Year over Year
East Windsor
SF Average Sale Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor SF
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor SF
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
Single Family 0-$399,999 Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
0-$399 Average Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
0-$399 List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
$400-$699 Avg Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
$400-$699 Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor CT
$400-$699 List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor
Cranbury Manor
Average Sales Price
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor
Cranbury Manor
Days on Market
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
East Windsor
Cranbury Manor
List to Sales Price Ratio
Source: Trend MLS
2012 2013 2014 2015 2016 2017 2018
Source: NJAR 10K Research Data
East Windsor 1/1/18-09/30/18
East Windsor 1/1/17-09/30/17
East Windsor
All Styles
Source: NJAR 10K Research Data
Lawrenceville
Train
Schools
Lifestyle
Affordability
Source: https://education.state.nj.us/pr/
Source: NJAR 10K Research Data
Law, Year over Year
LawrencevilleMarket Activity
SingleFamily Homes
AverageSalePrice
2012 2013 2015
Source: TrendMLS
2014 2016 2017 2018
LawrencevilleMarket Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS
2012 2013 20152014 2016 2017 2018
LawrencevilleMarket Activity
SingleFamily Homes
List to SalePriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017 2018
LawrencevilleMarket Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS
LawrencevilleMarket Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
2013 20152014 2016 20172012 2018
LawrencevilleMarket Activity
Condos& Townhouses
List to SalePriceRatio
Source: TrendMLS
2012 2013 20152014 2016 2017 2018
LawrencevilleMarket Activity
SingleFamily $500,000+
AverageSalePrice
Source: TrendMLS
LawrencevilleMarket Activity
SingleFamily $500,000+
Dayson Market
Source: TrendMLS
LawrencevilleMarket Activity
SingleFamily $500,000+
List to SalePriceRatio
Source: TrendMLS
LawrencevilleMarket Activity
Adult Communities
AverageSalePrice
Source: TrendMLS
LawrencevilleMarket Activity
Adult Communities
AverageDOM
Source: TrendMLS
LawrencevilleMarket Activity
Adult Communities
List to SalePriceRatio
Source: TrendMLS
LawrencevilleMarket Activity
Yorkshire
AverageSalesPrice
Source: TrendMLS
LawrencevilleMarket Activity
Yorkshire
AverageDayson Market
Source: TrendMLS
LawrencevilleMarket Activity
Yorkshire
List to SalePriceRatio
Source: TrendMLS
LawrencevilleMarket Activity
EaglesChase
AverageSalesPrice
Source: TrendMLS
LawrencevilleMarket Activity
EaglesChase
AverageDayson Market
Source: TrendMLS
LawrencevilleMarket Activity
EaglesChase
List to SalePriceRatio
Source: TrendMLS
LawrencevilleMarket Activity
LawrencevilleGreen
AverageSalesPrice
Source: TrendMLS
LawrencevilleMarket Activity
LawrencevilleGreen
AverageDayson Market
Source: TrendMLS
LawrencevilleMarket Activity
LawrencevilleGreen
List to SalePriceRatio
Source: TrendMLS
Source: NJAR 10K Research Data
Lawrenceville 1/1/18-09/30/18
Lawrenceville 1/1/17-09/30/17
Lawrence
All Styles
Source: NJAR 10K Research DataSource: NJAR 10K Research
Princeton
Train
Schools
Lifestyle
Affordability
Source: NJAR 10K Research Data
Pton, Year over Year
Princeton Market Activity
Single Family Average Sale Price
Source: TrendMLS
Princeton Market Activity
Single Family Average Days on Market
Source: TrendMLS
Princeton Market Activity
Single Family List to Sale Price Ratio
Source: TrendMLS
Princeton Condo/ Townhouse
Average Sales Price
Source: TrendMLS
Princeton Condo/ Townhouses
Average Days on Market
Source: TrendMLS
Princeton Condo/Townhouse
List to Sale Price Ratio
Source: TrendMLS
Princeton Single Family
Under $1 million Average Sales Price
Source: TrendMLS
Princeton Single Family Homes
Under $1 million Average Days on Market
Source: TrendMLS
Princeton Single Family
Under $1 million List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
$1-1.9 million Average Sales Price
Source: TrendMLS
Princeton Single Family
$1-1.9 million Days on Market
Source: TrendMLS
Princeton Single Family
$1-1.9 million List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
$1-1.5 million Average Sales Price
Source: TrendMLS
Princeton Single Family
$1-1.5 million Days on Market
Source: TrendMLS
Princeton Single Family
$1-1.5 million List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
$1.5-1.99 million Average Sales Price
Source: TrendMLS
Princeton Single Family
$1.5-1.99 million Days on Market
Source: TrendMLS
Princeton Single Family
$1.5-1.99 million List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
$2 million + Average Sales Price
Source: TrendMLS
Princeton Single Family
$2 million Days on Market
Source: TrendMLS
Princeton Single Family
$2 million List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
$3 million+ Average Sales Price
Source: TrendMLS
Princeton Single Family
$3 million+ Days on Market
Source: TrendMLS
Princeton Single Family
$3 million+ List to Sale Price Ratio
Source: TrendMLS
Princeton Single Family
Littlebrook Neighborhood
Average Sales Price
Source: TrendMLS
Princeton Single Family
Littlebrook Neighborhood
Average Days on Market
Source: TrendMLS
Princeton Single Family
Littlebrook Neighborhood
List to Sale Price Ratio
Source: TrendMLS
Princeton Single Family
Riverside Neighborhood
Average Sales Price
Source: TrendMLS
Princeton Single Family
Riverside Neighborhood
Average Days on Market
Source: TrendMLS
Princeton Single Family
Riverside Neighborhood
List to Sale Price Ratio
Source: TrendMLS
Princeton Single Family
Witherspoon-Jackson Historic District
Average Sales Price
Source: TrendMLS
Princeton Single Family
Witherspoon-Jackson Historic District
Days on Market
Source: TrendMLS
Princeton Single Family
Witherspoon-Jackson Historic District
List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
Washington Oaks
Condo Townhouse
Average Sales Price
Source: TrendMLS
Princeton Single Family
Washington Oaks
Condo Townhouse
Days on Market
Source: TrendMLS
Princeton Single Family
Washington Oaks
Condo Townhouse
List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
Ettl Farm
Average Sales Price
Source: TrendMLS
Princeton Single Family
Ettl Farm
Average DOM
Source: TrendMLS
Princeton Single Family
Ettl Farm
List to Sales Price Ratio
Source: TrendMLS
Princeton Single Family
Fieldwood Manors Condo/Townhouse
Average Sales Price
Source: TrendMLS
Princeton Single Family
Fieldwood Manors Condo/Townhouse
Average DOM
Source: TrendMLS
Princeton Single Family
Fieldwood Manors Condo/Townhouse
List to Sales Price Ratio
Source: TrendMLS
Princeton Township
Griggs Farm Condo/Townhouse
Average Sales Price
Source: TrendMLS
Princeton
Griggs Farm Condo/Townhouse
Average Days on Market
Source: TrendMLS
Princeton
Griggs FarmCondo/Townhouse
List to Sales Price Ratio
Source: TrendMLS
Source: NJAR 10K Research Data
Princeton 1/1/18-09/30/18
Princeton 1/1/17-09/30/17
Princeton
All Styles
Source: NJAR 10K Research DataSource: NJAR 10K Research
Ewing
Train
Schools
Lifestyle
Affordability
https://www.niche.com/k12/d/ewing-township-public-schools-nj/#report-card
Source: NJAR 10K Research
Source: NJAR 10K Research Data
Ewing, Year over Year
Ewing Market Activity
SingleFamily Homes
AverageSalePrice
Source: TrendMLS
2012 2013 2014 2015 2016 2017 2018
Ewing Market Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS
Ewing Market Activity
SingleFamily Homes
List to SalePriceRatio
Source: TrendMLS
Ewing Market Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS
Ewing Market Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
Ewing Market Activity
Condos& Townhouses
List to SalePriceRatio
Source: TrendMLS
Source: NJAR 10K Research Data
Ewing 1/1/18-09/30/18
Ewing 1/1/17-09/30/17
Ewing
All Styles
Style Active Listings
Under Contract in
30 Days
Absorption Rate
0-150 42 8 5.25
150-299 66 20 3.3
300-400...
Hamilton
Train
Schools
Lifestyle
Affordability
Source: NJAR 10K Research
Source: NJAR 10K Research Data
Hamilton, Year over Year
Hamilton Market Activity
SingleFamily Homes
AverageSalePrice
Source: TrendMLS
Hamilton Market Activity
SingleFamily Homes
AverageDayson Market
Source: TrendMLS
Hamilton Market Activity
SingleFamily Homes
List to SalePriceRatio
Source: TrendMLS
Hamilton Market Activity
Condos& Townhouses
AverageSalePrice
Source: TrendMLS
2012 2013 2015 201720162014 2018
Hamilton Market Activity
Condos& Townhouses
AverageDayson Market
Source: TrendMLS
2012 2013 2014 2015 2016 2017 2018
Hamilton Market Activity
Condos& Townhouses
List to SalePriceRatio
Source: TrendMLS
2012 2013 2014 2015 2016 2017 2018
Source: NJAR 10K Research Data
Hamilton 1/1/17-09/30/17
Hamilton 1/1/18-09/30/18
https://www.niche.com/k12/d/hopewell-valley-regional-school-district-nj/
Hopewell
Hopewell Twp
Single Family Average Sale Price
Source: Trend MLS
2012 2013 2014 20162015 2017 2018
Hopewell Twp
Single Family
Average Days on Market
Source: Trend MLS
Hopewell Twp
Single Family
List to Sale Price Ratio
Source: Trend MLS
Hopewell Twp
Condo/Townhouse
Average Sale Price
Source: Trend MLS
Hopewell Twp.
Condo/Townhouse
Average Days on Market
Source: Trend MLS
Hopewell Twp
Condo/Townhouse
List to Sale Price Ratio
Source: Trend MLS
2018
2018
Hopewell Twp
Brandon Farms Single Family
Average Sale Price
Source: Trend MLS
Hopewell Twp
Brandon Farms Single Family
Average Days on Market
Source: Trend MLS
Hopewell Twp
Brandon Farms Single Family
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017 2018
Hopewell Twp
Brandon Farms Condo/Townhouse
Average Sale Price
Source: Trend MLS
Hopewell Twp
Brandon Farms Condo/Townhouse
Average Days on Market
Source: Trend MLS
Hopewell Twp
Brandon Farms Condo/Townhouse
List to Sale Price Ratio
Source: Trend MLS
Hopewell Twp
$800,000+
Average Sales Price
Source: Trend MLS
Hopewell Twp
$800,000+
Average Days on Market
Source: Trend MLS
Hopewell Twp
$800,000+
List to Sale Price Ratio
Source: Trend MLS
2012 2013 2014 20162015 2017 2018
Source: NJAR 10K Research Data
Hopewell 1/1/18-09/30/18
Hopewell 1/1/17-09/30/17
Hopewell
All Styles
Hopewell Twp
Week 10/20/2018
Style
Active
Listing
UC in
30 D Abs. Rate
All Styles 149 32 4.7
Condo 1 0...
Montgomery Twp, NJ
Real Estate Trends
Montgomery Woods
Average Sales Price
Source: Garden State MLS
Montgomery Woods
Days on Market
Source: Garden State MLS
Montgomery Woods Market Activity
List to Sale Price Ratio
Source: Garden State MLS
Montgomery Hills Market Activity
Average Sale Price
Source: Garden State MLS
Montgomery Hills Market Activity
Average Days on Market
Source: Garden State MLS
Montgomery Hills Market Activity
List to Sale Price Ratio
Source: Garden State MLS
Princeton Village Market Activity
Average Sale Price
Source: Garden State MLS
Princeton Village Market Activity
Average Days On Market
Source: Garden State MLS
Princeton Village Market Activity
List to Sale Price Ratio
Source: Garden State MLS
Montgomery Twp Market Activity
Cherry Valley
Average Sales Price
Source: Garden State MLS
Montgomery Twp Market Activity
Cherry Valley
Average Days on Market
Source: Garden State MLS
Montgomery Twp Market Activity
Cherry Valley
List to Sale Price Ratio
Source: Garden State MLS
Montgomery Twp Market Activity
Single Family Homes
Average Sales Price
Source: Garden State MLS
Montgomery Twp Market Activity
Single Family Homes
Average DOM
Source: Garden State MLS
Montgomery Twp Market Activity
Single Family Homes
List to Sales Price Ratio
Source: Garden State MLS
Source: NJAR 10K Research Data
Montgomery 1/1/18-09/30/18
Montgomery 1/1/17-09/30/17
Montgomery
Week
Style
Active
Listing
UC in
30 D Abs. Rate
All Styles 121 16 7.6
Townhouse
/Condo 10 4 2.5
Adult Comm 0 0 #...
Executive Summary
South Brunswick
Local Real Estate Trends
SingleFamily Homes
AverageSalePrice
Source: Middlesex MLS
South Brunswick Market Activity
SingleFamily Homes
AverageDayson Market
Source: Middlesex MLS
South Brunswick Market Activity
SingleFamily Under $400,000
AverageSalesPrice
Source: Middlesex MLS
South Brunswick Market Activity
SingleFamily Under $400,000
AverageDOM
Source: Middlesex MLS
Princeton Walk
Condos& Townhouses
AverageSalesPrice
Source: Middlesex MLS
Princeton Walk
Condos& Townhouses
AverageDayson Market
Source: Middlesex MLS
Princeton Walk Market Activity
SingleFamily
AverageSalesPrice
Source: Middlesex MLS
Princeton Walk Market Activity
SingleFamily
AverageDOM
Source: Middlesex MLS
Source: NJAR 10K Research Data
South Brunswick 1/1/17-09/30/17
South Brunswick 1/1/18-09/30/18
Source: NJAR 10K Research Data
S Brunswick
Week
Style
Active
Listing
UC in 30
D
Abs.
Rate
All Styles 179 40 4.5
Condo 13 5...
Strategies for
Buying and Selling
in Today’s Market
When’s the best time to Buy/Sell?
Source: Trend MLS
Open House Report
Open House Report
Lawrenceville
Week
Style
Active
Listing
UC in
30 D
Abs.
Rate
All Styles 157 26 6.0
Condo 14 3 4.7
Townho...
Financial Services
Carlos A. Machado
Gold Services Manager
Princeton Office
NMLS #4384
Weichert Financial Services
908-307...
•For Sellers: To make sure they have all the
information they need to choose an offer
•For Buyers: Buying Strategy, Buying...
As the seller, do I get to
see the pre-approval
letter?
• The Pre-approval letter must be with all the offers.
• Cash deal...
8 Offers on a Listing……
2018
Top Buyer Negotiating Strategies…
1.Get out now, before the Spring springs, Pay Now or Pay
More Later (based on core ...
$1,589 $1,786 $1,889
Buyer Negotiation Tips in a Fast Market
1. Understand the process before you start shopping.
2. Have mortgage pre-approval...
Weichert Financial
Carlos Alberto Machado
Gold Service Manager
cmachado@weichertfinancial.com
908-307-8317
Princeton Offic...
Use my App To Partner
with Me
Text to: 36260
‘Carlos Machado’
You will get my app.
Calculator, Pre Approval Updates, Rate ...
2018
Top Seller Strategies…
1.Stage it (Pretty it Up)
2.Fix it First (Pre Inspect)
3.Price it Right (Set the Market)
4.Sta...
All Negotiations, including real estate, are all about negotiation
and control.
Home Pricing
Who is in control?
The process of preparing homes for sale
regardless of price, location, or condition
to achieve the maximum sales price in ...
Clean & In Good Repair
“Wow…. I could live here!”
Buyers Only Know What They See …
Buyers Only Know What They See …
… Not The Way It Is Going To Be.
Home Staging
*Based on a StagedHomes.com survey of over 400 homes across Canada & the Continental US prepared for sale by ...
22 Dogwood Princeton
Non Staged Suggested
Price: $1.009m
Staged Suggested Price:
$1.323
Staged ($20k)
Sold: $1.326/ 12 days
All Negotiations, including real estate, are all about negotiation
and control.
Home Staging
Who is in control?
Fall Thru Analysis
Reason for Fall Thru Total # Fall Thrus % of Total Fall Thrus
Home Inspection 659 39.2%
Buyer Financing...
The Impact of Inspection & Repairs
on the Salability of Your Home..…
A Certified Home Inspector’s report will review:
Cond...
• Why do a Pre-Inspection?
• Fix/ Disclose/ Permit EVERYTHING before going on market
• Removes buyer objections/ fears
• R...
All Negotiations, including real estate, are all about negotiation
and control.
Pre - Inspection
Who is in control?
• Promotes a sense of urgency among buyers &
agents (fear of loss)
• Generates interest and showings
• Sets the stage for ...
• Buyer excitement diminishes quickly
• Extends time house is on the market
• Results in price reductions
• May attract “b...
Negotiations are about leverage, use the listing
price as yours…
PTA suggested Market Value of
$840,000
Ab Rate of 12.5 mo...
Negotiations are about leverage, use the listing
price as yours…
5 Lost Trail: listed by another Broker on
7/31/16 for $69...
Princeton
36 Mercer St.
The Price Trend Analysis suggested Market Value of $1.250
We recommended listing at $1.1 million
Princeton
36 Mercer St.
• Pre-inspection
• Staged
• Right Pricing
Sold for $1.350 million, cash in 7 days. No contingencie...
Hamilton
1715 Silver Ct.
Hamilton N J 08690
2 Bedroom 1.5 Baths
Presented at $115,000
Listed 6/5/17---
1 open house 6/10/1...
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 f...
Hamilton
---the other at
$112,900 so far on for
66 days
(listing broker placed
one photo on the MLS)
Negotiations are about leverage, use the listing
price as yours…
Listed at $544,900
Reduced to $535,000
Reduced to $509,00...
Weichert Family of Companies
What will a real
estate company do
for me?
Making Your Purchase as
Smooth as Possible
Buying a home involves the careful
coordination of many people.
Choosing a real...
Thank You.
Resource and Website ListResource and Website List
www.trendmls.com
www.realtor.org
www.njar.com
www.Otteau.com
www.Pre-li...
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
Weichert, Princeton Fall 2018 Real Estate Market Seminar
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Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 1 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 2 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 3 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 4 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 5 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 6 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 7 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 8 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 9 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 10 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 11 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 12 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 13 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 14 Weichert, Princeton Fall 2018 Real Estate Market Seminar Slide 15 Weichert, Princeton 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Weichert, Princeton Fall 2018 Real Estate Market Seminar

Here is the slidedeck to the market seminar. Offering insight and analysis to the Princeton and Greater Princeton Real Estate Markets.

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Weichert, Princeton Fall 2018 Real Estate Market Seminar

  1. 1. Princeton Area Real Estate Market Update October 2018 Josh Wilton Weichert Realtors
  2. 2. Agenda The Market, State, County and Local Process and Strategies for Buyers and Sellers Real Estate Market Update Agenda
  3. 3. Real Estate follows the jobs
  4. 4. Market Update
  5. 5. Market Update
  6. 6. Real estate experts and economists agree sellers will continue to hold the cards  With inventory at historically low levels and demand for housing skyrocketing in most markets, economic analysts and real estate experts believe 2018 will be the Year of the Seller.  Analysts forecasted yet another year in which a scarcity of homes for sale will allow sellers to keep prices high, especially as a growing segment of 1st time millennial buyers take the homeownership plunge.  The inventory drought will continue to be enough of a factor to keep supplies below normal. Most markets will continue to be sellers’ markets, especially for entry-level homes (affordable), hotter markets and markets where prices are high and new construction is costly Will 2018 be a Buyer’s Market or a Seller’s Market? Market Update Source: Inman.com 12/26/17
  7. 7. First-Time Homebuyers make up Majority of 2017 (2018) Home buyers* • 52% First Time Homebuyers • 61% Millennial Buyers (35 years and under)
  8. 8. The boom….The New Jersey MarketThe Statewide Picture
  9. 9. Listings 2018 Pending Sales 2018
  10. 10. Closed Homes2018
  11. 11. The Local Markets 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
  12. 12. The boom….The Local MarketThe Local Picture
  13. 13. 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
  14. 14. http://lwd.dol.state.nj.us/labor/lpa/content/njsdc/2013WU%20PopLFProj2030.pdf
  15. 15. 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
  16. 16. Plainsboro Real Estate Market Drivers 1. Trains/Schools/Affordability 2. Schools/Trains/Affordability 3. Convenience/Town Center/Lifestyle 4. Affordability 5. Schools 6. Trains
  17. 17. Source: Middlesex MLS
  18. 18. Source: NJAR 10K Research Data Plainsboro, Year over Year
  19. 19. Plainsboro Market Activity Single Family Homes Average Sale Price Source: Middlesex MLS
  20. 20. Plainsboro Market Activity Single Family Homes Average Days on Market Source: Middlesex MLS
  21. 21. Plainsboro Market Activity Condos & Townhouses Average Sale Price Source: Middlesex MLS
  22. 22. Plainsboro Market Activity Condos & Townhouses Average Days on Market Source: Middlesex MLS
  23. 23. Plainsboro Market Activity Walker Gordon Farm Average Sale Price Source: Middlesex MLS
  24. 24. Plainsboro Market Activity Walker Gordon Farm Average Days on Market Source: Middlesex MLS
  25. 25. Plainsboro Market Activity Princeton Landing Condo/Townhouse Average Sale Price Source: Middlesex MLS
  26. 26. Plainsboro Market Activity Princeton Landing Condo/Townhouse Average Days on Market Source: Middlesex MLS
  27. 27. Plainsboro Market Activity Princeton Landing Single Family Average Sales Price Source: Middlesex MLS
  28. 28. Plainsboro Market Activity Princeton Landing Single Family Average DOM Source: Middlesex MLS
  29. 29. Source: NJAR 10K Research Data Plainsboro 1/1/18-09/30/18 Plainsboro 1/1/17-09/30/17
  30. 30. Plainsboro All Styles
  31. 31. Source: NJAR 10K Research Data West Windsor Train Schools Lifestyle Affordability
  32. 32. Source: Middlesex MLS
  33. 33. Source: NJAR 10K Research WW, Year over Year
  34. 34. West Windsor Market Activity Single Family Homes Average Sale Price Source: Trend MLS
  35. 35. West Windsor Market Activity Single Family Homes Average Days on Market 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  36. 36. West Windsor Market Activity Single Family Homes List to Sale Price Ratio Source: Trend MLS
  37. 37. West Windsor Market Activity Condos & Townhouses Average Sale Price 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  38. 38. West Windsor Market Activity Condos & Townhouses Average Days on Market Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  39. 39. West Windsor Market Activity Condos & Townhouses List to Sale Price Ratio 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  40. 40. West Windsor Market Activity Condo/ Townhouse– Canal Pointe Average Sale Price 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  41. 41. West Windsor Market Activity Condo/ Townhouse– Canal Pointe Days on Market 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  42. 42. West Windsor Market Activity Condo/ Townhouse– Canal Pointe List to Sale Price Ratio 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  43. 43. West Windsor Market Activity Canal Pointe – Single Family Average Sale Price 2012 2013 2014 2015 2016 2017 Source: Trend MLS 2018
  44. 44. West Windsor Market Activity Canal Pointe – Single Family Average Days on Market Source: Trend MLS
  45. 45. West Windsor Market Activity Canal Pointe – Single Family List to Sale Price Ratio Source: Trend MLS
  46. 46. West Windsor Market Activity Single Family – Estates @ Princeton Jct Average Sale Price Source: Trend MLS
  47. 47. West Windsor Market Activity Single Family – Estates @ Princeton Jct Average Days on Market Source: Trend MLS
  48. 48. West Windsor Market Activity Single Family – Estates @ Princeton Jct List to Sale Price Ratio Source: Trend MLS
  49. 49. West Windsor Market Activity Single Family – 0-$650,000 Average Sales Price Source: Trend MLS
  50. 50. West Windsor Market Activity Single Family – 0-$650,000 Average Days on Market Source: Trend MLS
  51. 51. West Windsor Market Activity Single Family – 0-$650,000 List to Sale Price Ratio Source: Trend MLS
  52. 52. West Windsor Market Activity Single Family – $650,000-$874,999 Average Sales Price Source: Trend MLS
  53. 53. West Windsor Market Activity Single Family – $650,000-$874,999 Average Days on Market Source: Trend MLS
  54. 54. West Windsor Market Activity Single Family – $650,000-$874,999 List to Sales Price Ratio Source: Trend MLS
  55. 55. West Windsor Market Activity Single Family – $875,000-$1,100,000 Average Sales Price Source: Trend MLS
  56. 56. West Windsor Market Activity Single Family – $875,000-$1,100,000 Average Days on Market Source: Trend MLS
  57. 57. West Windsor Market Activity Single Family – $875,000-$1,100,000 List to Sales Price Ratio Source: Trend MLS
  58. 58. Source: NJAR 10K Research Data West Windsor 1/1/18-09/30/18 West Windsor 1/1/17-09/30/17
  59. 59. West Windsor All Styles
  60. 60. East Windsor Train Schools Lifestyle Affordability
  61. 61. Source: NJAR 10K Research DataSource: NJAR 10K Research EW, Year over Year
  62. 62. East Windsor SF Average Sale Price Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  63. 63. East Windsor SF Average Days on Market Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  64. 64. East Windsor SF List to Sale Price Ratio Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  65. 65. East Windsor CT Average Sales Price Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  66. 66. East Windsor CT Average Days on Market Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  67. 67. East Windsor CT List to Sale Price Ratio Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  68. 68. East Windsor CT Single Family 0-$399,999 Average Sales Price Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  69. 69. East Windsor CT 0-$399 Average Days on Market Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  70. 70. East Windsor CT 0-$399 List to Sales Price Ratio Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  71. 71. East Windsor CT $400-$699 Avg Sales Price Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  72. 72. East Windsor CT $400-$699 Days on Market Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  73. 73. East Windsor CT $400-$699 List to Sales Price Ratio Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  74. 74. East Windsor Cranbury Manor Average Sales Price Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  75. 75. East Windsor Cranbury Manor Days on Market Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  76. 76. East Windsor Cranbury Manor List to Sales Price Ratio Source: Trend MLS 2012 2013 2014 2015 2016 2017 2018
  77. 77. Source: NJAR 10K Research Data East Windsor 1/1/18-09/30/18 East Windsor 1/1/17-09/30/17
  78. 78. East Windsor All Styles
  79. 79. Source: NJAR 10K Research Data Lawrenceville Train Schools Lifestyle Affordability
  80. 80. Source: https://education.state.nj.us/pr/
  81. 81. Source: NJAR 10K Research Data Law, Year over Year
  82. 82. LawrencevilleMarket Activity SingleFamily Homes AverageSalePrice 2012 2013 2015 Source: TrendMLS 2014 2016 2017 2018
  83. 83. LawrencevilleMarket Activity SingleFamily Homes AverageDayson Market Source: TrendMLS 2012 2013 20152014 2016 2017 2018
  84. 84. LawrencevilleMarket Activity SingleFamily Homes List to SalePriceRatio Source: TrendMLS 2012 2013 20152014 2016 2017 2018
  85. 85. LawrencevilleMarket Activity Condos& Townhouses AverageSalePrice Source: TrendMLS
  86. 86. LawrencevilleMarket Activity Condos& Townhouses AverageDayson Market Source: TrendMLS 2013 20152014 2016 20172012 2018
  87. 87. LawrencevilleMarket Activity Condos& Townhouses List to SalePriceRatio Source: TrendMLS 2012 2013 20152014 2016 2017 2018
  88. 88. LawrencevilleMarket Activity SingleFamily $500,000+ AverageSalePrice Source: TrendMLS
  89. 89. LawrencevilleMarket Activity SingleFamily $500,000+ Dayson Market Source: TrendMLS
  90. 90. LawrencevilleMarket Activity SingleFamily $500,000+ List to SalePriceRatio Source: TrendMLS
  91. 91. LawrencevilleMarket Activity Adult Communities AverageSalePrice Source: TrendMLS
  92. 92. LawrencevilleMarket Activity Adult Communities AverageDOM Source: TrendMLS
  93. 93. LawrencevilleMarket Activity Adult Communities List to SalePriceRatio Source: TrendMLS
  94. 94. LawrencevilleMarket Activity Yorkshire AverageSalesPrice Source: TrendMLS
  95. 95. LawrencevilleMarket Activity Yorkshire AverageDayson Market Source: TrendMLS
  96. 96. LawrencevilleMarket Activity Yorkshire List to SalePriceRatio Source: TrendMLS
  97. 97. LawrencevilleMarket Activity EaglesChase AverageSalesPrice Source: TrendMLS
  98. 98. LawrencevilleMarket Activity EaglesChase AverageDayson Market Source: TrendMLS
  99. 99. LawrencevilleMarket Activity EaglesChase List to SalePriceRatio Source: TrendMLS
  100. 100. LawrencevilleMarket Activity LawrencevilleGreen AverageSalesPrice Source: TrendMLS
  101. 101. LawrencevilleMarket Activity LawrencevilleGreen AverageDayson Market Source: TrendMLS
  102. 102. LawrencevilleMarket Activity LawrencevilleGreen List to SalePriceRatio Source: TrendMLS
  103. 103. Source: NJAR 10K Research Data Lawrenceville 1/1/18-09/30/18 Lawrenceville 1/1/17-09/30/17
  104. 104. Lawrence All Styles
  105. 105. Source: NJAR 10K Research DataSource: NJAR 10K Research Princeton Train Schools Lifestyle Affordability
  106. 106. Source: NJAR 10K Research Data Pton, Year over Year
  107. 107. Princeton Market Activity Single Family Average Sale Price Source: TrendMLS
  108. 108. Princeton Market Activity Single Family Average Days on Market Source: TrendMLS
  109. 109. Princeton Market Activity Single Family List to Sale Price Ratio Source: TrendMLS
  110. 110. Princeton Condo/ Townhouse Average Sales Price Source: TrendMLS
  111. 111. Princeton Condo/ Townhouses Average Days on Market Source: TrendMLS
  112. 112. Princeton Condo/Townhouse List to Sale Price Ratio Source: TrendMLS
  113. 113. Princeton Single Family Under $1 million Average Sales Price Source: TrendMLS
  114. 114. Princeton Single Family Homes Under $1 million Average Days on Market Source: TrendMLS
  115. 115. Princeton Single Family Under $1 million List to Sales Price Ratio Source: TrendMLS
  116. 116. Princeton Single Family $1-1.9 million Average Sales Price Source: TrendMLS
  117. 117. Princeton Single Family $1-1.9 million Days on Market Source: TrendMLS
  118. 118. Princeton Single Family $1-1.9 million List to Sales Price Ratio Source: TrendMLS
  119. 119. Princeton Single Family $1-1.5 million Average Sales Price Source: TrendMLS
  120. 120. Princeton Single Family $1-1.5 million Days on Market Source: TrendMLS
  121. 121. Princeton Single Family $1-1.5 million List to Sales Price Ratio Source: TrendMLS
  122. 122. Princeton Single Family $1.5-1.99 million Average Sales Price Source: TrendMLS
  123. 123. Princeton Single Family $1.5-1.99 million Days on Market Source: TrendMLS
  124. 124. Princeton Single Family $1.5-1.99 million List to Sales Price Ratio Source: TrendMLS
  125. 125. Princeton Single Family $2 million + Average Sales Price Source: TrendMLS
  126. 126. Princeton Single Family $2 million Days on Market Source: TrendMLS
  127. 127. Princeton Single Family $2 million List to Sales Price Ratio Source: TrendMLS
  128. 128. Princeton Single Family $3 million+ Average Sales Price Source: TrendMLS
  129. 129. Princeton Single Family $3 million+ Days on Market Source: TrendMLS
  130. 130. Princeton Single Family $3 million+ List to Sale Price Ratio Source: TrendMLS
  131. 131. Princeton Single Family Littlebrook Neighborhood Average Sales Price Source: TrendMLS
  132. 132. Princeton Single Family Littlebrook Neighborhood Average Days on Market Source: TrendMLS
  133. 133. Princeton Single Family Littlebrook Neighborhood List to Sale Price Ratio Source: TrendMLS
  134. 134. Princeton Single Family Riverside Neighborhood Average Sales Price Source: TrendMLS
  135. 135. Princeton Single Family Riverside Neighborhood Average Days on Market Source: TrendMLS
  136. 136. Princeton Single Family Riverside Neighborhood List to Sale Price Ratio Source: TrendMLS
  137. 137. Princeton Single Family Witherspoon-Jackson Historic District Average Sales Price Source: TrendMLS
  138. 138. Princeton Single Family Witherspoon-Jackson Historic District Days on Market Source: TrendMLS
  139. 139. Princeton Single Family Witherspoon-Jackson Historic District List to Sales Price Ratio Source: TrendMLS
  140. 140. Princeton Single Family Washington Oaks Condo Townhouse Average Sales Price Source: TrendMLS
  141. 141. Princeton Single Family Washington Oaks Condo Townhouse Days on Market Source: TrendMLS
  142. 142. Princeton Single Family Washington Oaks Condo Townhouse List to Sales Price Ratio Source: TrendMLS
  143. 143. Princeton Single Family Ettl Farm Average Sales Price Source: TrendMLS
  144. 144. Princeton Single Family Ettl Farm Average DOM Source: TrendMLS
  145. 145. Princeton Single Family Ettl Farm List to Sales Price Ratio Source: TrendMLS
  146. 146. Princeton Single Family Fieldwood Manors Condo/Townhouse Average Sales Price Source: TrendMLS
  147. 147. Princeton Single Family Fieldwood Manors Condo/Townhouse Average DOM Source: TrendMLS
  148. 148. Princeton Single Family Fieldwood Manors Condo/Townhouse List to Sales Price Ratio Source: TrendMLS
  149. 149. Princeton Township Griggs Farm Condo/Townhouse Average Sales Price Source: TrendMLS
  150. 150. Princeton Griggs Farm Condo/Townhouse Average Days on Market Source: TrendMLS
  151. 151. Princeton Griggs FarmCondo/Townhouse List to Sales Price Ratio Source: TrendMLS
  152. 152. Source: NJAR 10K Research Data Princeton 1/1/18-09/30/18 Princeton 1/1/17-09/30/17
  153. 153. Princeton All Styles
  154. 154. Source: NJAR 10K Research DataSource: NJAR 10K Research Ewing Train Schools Lifestyle Affordability
  155. 155. https://www.niche.com/k12/d/ewing-township-public-schools-nj/#report-card Source: NJAR 10K Research
  156. 156. Source: NJAR 10K Research Data Ewing, Year over Year
  157. 157. Ewing Market Activity SingleFamily Homes AverageSalePrice Source: TrendMLS 2012 2013 2014 2015 2016 2017 2018
  158. 158. Ewing Market Activity SingleFamily Homes AverageDayson Market Source: TrendMLS
  159. 159. Ewing Market Activity SingleFamily Homes List to SalePriceRatio Source: TrendMLS
  160. 160. Ewing Market Activity Condos& Townhouses AverageSalePrice Source: TrendMLS
  161. 161. Ewing Market Activity Condos& Townhouses AverageDayson Market Source: TrendMLS
  162. 162. Ewing Market Activity Condos& Townhouses List to SalePriceRatio Source: TrendMLS
  163. 163. Source: NJAR 10K Research Data Ewing 1/1/18-09/30/18 Ewing 1/1/17-09/30/17
  164. 164. Ewing All Styles Style Active Listings Under Contract in 30 Days Absorption Rate 0-150 42 8 5.25 150-299 66 20 3.3 300-400 13 4 3.25 400+ 2 1 2
  165. 165. Hamilton Train Schools Lifestyle Affordability
  166. 166. Source: NJAR 10K Research
  167. 167. Source: NJAR 10K Research Data Hamilton, Year over Year
  168. 168. Hamilton Market Activity SingleFamily Homes AverageSalePrice Source: TrendMLS
  169. 169. Hamilton Market Activity SingleFamily Homes AverageDayson Market Source: TrendMLS
  170. 170. Hamilton Market Activity SingleFamily Homes List to SalePriceRatio Source: TrendMLS
  171. 171. Hamilton Market Activity Condos& Townhouses AverageSalePrice Source: TrendMLS 2012 2013 2015 201720162014 2018
  172. 172. Hamilton Market Activity Condos& Townhouses AverageDayson Market Source: TrendMLS 2012 2013 2014 2015 2016 2017 2018
  173. 173. Hamilton Market Activity Condos& Townhouses List to SalePriceRatio Source: TrendMLS 2012 2013 2014 2015 2016 2017 2018
  174. 174. Source: NJAR 10K Research Data Hamilton 1/1/17-09/30/17 Hamilton 1/1/18-09/30/18
  175. 175. https://www.niche.com/k12/d/hopewell-valley-regional-school-district-nj/ Hopewell
  176. 176. Hopewell Twp Single Family Average Sale Price Source: Trend MLS 2012 2013 2014 20162015 2017 2018
  177. 177. Hopewell Twp Single Family Average Days on Market Source: Trend MLS
  178. 178. Hopewell Twp Single Family List to Sale Price Ratio Source: Trend MLS
  179. 179. Hopewell Twp Condo/Townhouse Average Sale Price Source: Trend MLS
  180. 180. Hopewell Twp. Condo/Townhouse Average Days on Market Source: Trend MLS
  181. 181. Hopewell Twp Condo/Townhouse List to Sale Price Ratio Source: Trend MLS 2018 2018
  182. 182. Hopewell Twp Brandon Farms Single Family Average Sale Price Source: Trend MLS
  183. 183. Hopewell Twp Brandon Farms Single Family Average Days on Market Source: Trend MLS
  184. 184. Hopewell Twp Brandon Farms Single Family List to Sale Price Ratio Source: Trend MLS 2012 2013 2014 20162015 2017 2018
  185. 185. Hopewell Twp Brandon Farms Condo/Townhouse Average Sale Price Source: Trend MLS
  186. 186. Hopewell Twp Brandon Farms Condo/Townhouse Average Days on Market Source: Trend MLS
  187. 187. Hopewell Twp Brandon Farms Condo/Townhouse List to Sale Price Ratio Source: Trend MLS
  188. 188. Hopewell Twp $800,000+ Average Sales Price Source: Trend MLS
  189. 189. Hopewell Twp $800,000+ Average Days on Market Source: Trend MLS
  190. 190. Hopewell Twp $800,000+ List to Sale Price Ratio Source: Trend MLS 2012 2013 2014 20162015 2017 2018
  191. 191. Source: NJAR 10K Research Data Hopewell 1/1/18-09/30/18 Hopewell 1/1/17-09/30/17
  192. 192. Hopewell All Styles Hopewell Twp Week 10/20/2018 Style Active Listing UC in 30 D Abs. Rate All Styles 149 32 4.7 Condo 1 0 99.0 Townhouse 16 6 2.7 Adult C/T 0 1 0.0 Adult SFM 1 4 0.3 Single Family <300K 4 3 1.3 Single Family 300K to 450K 22 6 3.7 Single Family 450K to 600K 23 7 3.3 Single Family 600K to 750K 28 4 7.0 Single Family 750K to 900K 25 0 #DIV/0! Single Family 900K to 1
  193. 193. Montgomery Twp, NJ Real Estate Trends
  194. 194. Montgomery Woods Average Sales Price Source: Garden State MLS
  195. 195. Montgomery Woods Days on Market Source: Garden State MLS
  196. 196. Montgomery Woods Market Activity List to Sale Price Ratio Source: Garden State MLS
  197. 197. Montgomery Hills Market Activity Average Sale Price Source: Garden State MLS
  198. 198. Montgomery Hills Market Activity Average Days on Market Source: Garden State MLS
  199. 199. Montgomery Hills Market Activity List to Sale Price Ratio Source: Garden State MLS
  200. 200. Princeton Village Market Activity Average Sale Price Source: Garden State MLS
  201. 201. Princeton Village Market Activity Average Days On Market Source: Garden State MLS
  202. 202. Princeton Village Market Activity List to Sale Price Ratio Source: Garden State MLS
  203. 203. Montgomery Twp Market Activity Cherry Valley Average Sales Price Source: Garden State MLS
  204. 204. Montgomery Twp Market Activity Cherry Valley Average Days on Market Source: Garden State MLS
  205. 205. Montgomery Twp Market Activity Cherry Valley List to Sale Price Ratio Source: Garden State MLS
  206. 206. Montgomery Twp Market Activity Single Family Homes Average Sales Price Source: Garden State MLS
  207. 207. Montgomery Twp Market Activity Single Family Homes Average DOM Source: Garden State MLS
  208. 208. Montgomery Twp Market Activity Single Family Homes List to Sales Price Ratio Source: Garden State MLS
  209. 209. Source: NJAR 10K Research Data Montgomery 1/1/18-09/30/18 Montgomery 1/1/17-09/30/17
  210. 210. Montgomery Week Style Active Listing UC in 30 D Abs. Rate All Styles 121 16 7.6 Townhouse /Condo 10 4 2.5 Adult Comm 0 0 #DIV/0! Single Family <400K 9 2 4.5 Single Family 400K to 500K 14 1 14.0 Single Family 500K to 600K 14 3 4.7 Single Family 600K to 700K 15 2 7.5 Single Family 700K to 850K 20 2 10.0 Single Family 850K to 1 Mil 14 1 14.0 Single Family 1 to 1.2 Mil 13 0 99.0 Single Family 1.2 to 1.5 Mil 7 1 7.0 Single Family > 1.5 Mil 5 0 99.0 10/20/2018
  211. 211. Executive Summary South Brunswick Local Real Estate Trends
  212. 212. SingleFamily Homes AverageSalePrice Source: Middlesex MLS
  213. 213. South Brunswick Market Activity SingleFamily Homes AverageDayson Market Source: Middlesex MLS
  214. 214. South Brunswick Market Activity SingleFamily Under $400,000 AverageSalesPrice Source: Middlesex MLS
  215. 215. South Brunswick Market Activity SingleFamily Under $400,000 AverageDOM Source: Middlesex MLS
  216. 216. Princeton Walk Condos& Townhouses AverageSalesPrice Source: Middlesex MLS
  217. 217. Princeton Walk Condos& Townhouses AverageDayson Market Source: Middlesex MLS
  218. 218. Princeton Walk Market Activity SingleFamily AverageSalesPrice Source: Middlesex MLS
  219. 219. Princeton Walk Market Activity SingleFamily AverageDOM Source: Middlesex MLS
  220. 220. Source: NJAR 10K Research Data South Brunswick 1/1/17-09/30/17 South Brunswick 1/1/18-09/30/18
  221. 221. Source: NJAR 10K Research Data S Brunswick Week Style Active Listing UC in 30 D Abs. Rate All Styles 179 40 4.5 Condo 13 5 2.6 Townhouse 57 10 5.7 Adult C/T 2 0 99.0 Adult SFM 12 4 3.0 Single Family <300K 12 2 6.0 Single Family 300K to 450K 23 10 2.3 Single Family 450K to 600K 17 5 3.4 Single Family 600K to750K 18 0 99.0 Single Family 750K to 850K 10 1 10.0 Single Family 850K to 1 Mil 9 1 9.0 Single Family > 1Mil 6 2 3.0 10/20/2018
  222. 222. Strategies for Buying and Selling in Today’s Market
  223. 223. When’s the best time to Buy/Sell? Source: Trend MLS
  224. 224. Open House Report
  225. 225. Open House Report Lawrenceville Week Style Active Listing UC in 30 D Abs. Rate All Styles 157 26 6.0 Condo 14 3 4.7 Townhouse 12 3 4.0 Adult Comm 10 3 3.3 Single Family <250K 17 8 2.1 Single Family 250K to 350K 25 0 99.0 Single Family 350K to 450K 30 3 10.0 Single Family 450K to 550K 21 2 10.5 Single Family 550K to 700K 16 2 8.0 Single Family 700K to 1 Mil 7 1 7.0 Single Family > 1Mil 5 1 5.0 10/20/2018
  226. 226. Financial Services Carlos A. Machado Gold Services Manager Princeton Office NMLS #4384 Weichert Financial Services 908-307-8317 cmachado@weichertfinancial.com
  227. 227. •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…
  228. 228. 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
  229. 229. 8 Offers on a Listing……
  230. 230. 2018 Top Buyer Negotiating Strategies… 1.Get out now, before the Spring springs, 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)
  231. 231. $1,589 $1,786 $1,889
  232. 232. 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
  233. 233. Weichert Financial Carlos Alberto Machado Gold Service Manager cmachado@weichertfinancial.com 908-307-8317 Princeton Office NMLS#4384
  234. 234. Use my App To Partner with Me Text to: 36260 ‘Carlos Machado’ You will get my app. Calculator, Pre Approval Updates, Rate Updates & More
  235. 235. 2018 Top Seller Strategies… 1.Stage it (Pretty it Up) 2.Fix it First (Pre Inspect) 3.Price it Right (Set the Market) 4.Stay in Control
  236. 236. All Negotiations, including real estate, are all about negotiation and control. Home Pricing Who is in control?
  237. 237. 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?
  238. 238. Clean & In Good Repair
  239. 239. “Wow…. I could live here!”
  240. 240. Buyers Only Know What They See …
  241. 241. Buyers Only Know What They See …
  242. 242. … Not The Way It Is Going To Be.
  243. 243. 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 8.9% That is an additional $40,000 on a $450,000 sale “The investment in home staging is always less than your first price reduction!”
  244. 244. 22 Dogwood Princeton Non Staged Suggested Price: $1.009m Staged Suggested Price: $1.323 Staged ($20k) Sold: $1.326/ 12 days
  245. 245. All Negotiations, including real estate, are all about negotiation and control. Home Staging Who is in control?
  246. 246. 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%
  247. 247. 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
  248. 248. • 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
  249. 249. All Negotiations, including real estate, are all about negotiation and control. Pre - Inspection Who is in control?
  250. 250. • 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
  251. 251. • 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:
  252. 252. 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
  253. 253. 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
  254. 254. Princeton 36 Mercer St. The Price Trend Analysis suggested Market Value of $1.250 We recommended listing at $1.1 million
  255. 255. Princeton 36 Mercer St. • Pre-inspection • Staged • Right Pricing Sold for $1.350 million, cash in 7 days. No contingencies.
  256. 256. 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
  257. 257. 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)
  258. 258. Hamilton ---the other at $112,900 so far on for 66 days (listing broker placed one photo on the MLS)
  259. 259. 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
  260. 260. Weichert Family of Companies What will a real estate company do for me?
  261. 261. 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.
  262. 262. Thank You.
  263. 263. 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/
  • homebuyerguygj

    Nov. 2, 2018

Here is the slidedeck to the market seminar. Offering insight and analysis to the Princeton and Greater Princeton Real Estate Markets.

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