Looking for real estate advice

fundingfather
Mon, 05 Jan 2009 21:59:06 +0000

All good questions hmom5.

While the number of people looking has fallen off, it’s hard to know if it is because of the house or just the holiday season. We actually had 2 showings in the last week.

The area is Central NJ which is a reasonable commute from NYC. There are some things selling (15 houses in our town went into contract during December, but this is less than half that went into contract during September and October … again, the holidays may have played a role in this.) The “need to sell” question is hard to answer. Every month that we do not sell costs us money but unless it drags on for a year or more, we should be OK. In fact, the amount that our agent is suggesting to lower the price by is about what our carrying costs are for 9 months.