Three Reasons Homes Don’t Sell in the LBI Real Estate Market

Understanding Why Homes Do Not Sell in the Long Beach Island Real Estate Market

Three Reasons Homes Don’t Sell in the LBI Real Estate Market

Long Beach Island Real Estate

The LBI real estate market has seen significant improvement over the past two years. Hurricane Sandy, while a major catastrophe that caused widespread damage, have in fact help to improve the LBI real estate market with an abundance of new or renovated homes. This is helped to increase interest in the LBI real estate market and improve the overall economy. Even with a stronger real estate market, some homes will still struggle to sell. There are three reasons homes do not sell in the LBI real estate market and understanding these reasons is essential to understanding a LBI real estate transaction.

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Three Reasons Homes Don’t Sell in the LBI Real Estate Market

There are three reasons homes do not sell in the LBI real estate market. They are:

  • Price
  • Condition
  • Marketing

First and foremost, the listing price of a home must be correct. Buyers in the LBI real estate market are well educated and it is easy to spot a home that is overpriced. It is important to take into consideration not only the sold listings, but also the active inventory when determining the right listing price for a home. Pricing a home too high will limit the number of showings and increase the amount of time a home spent on the market.

The condition of a home is also extremely important when selling. Improving the condition of the home can greatly increase the net proceeds from the sale in the LBI real estate market. It is important to remember that a home must be made “show ready” and cater to the wants and needs of buyers looking for a home on Long Beach Island. Simple improvements such as paint, flooring, and other cosmetic changes can go a long way to selling a home quickly and for more money.

Marketing is the last and perhaps most critical step of selling a home in the LBI real estate market. Even if the home is priced correctly and a condition matches the expectations of a buyer, without the proper marketing plan in place, a home will sit endlessly on the market. Marketing goes beyond simple advertisements, but also must include photographs, virtual tours, and other critical advertising tools. A strong marketing plan can highlight the correct listing price and positive attributes of a home and get a contract quickly.

Selling a Home in the Long Beach Island Real Estate Market

It is important to remember that all three steps must be taken into consideration when selling a home in the LBI real estate market. Selling a home is a major financial decision, and is one that should be taken with the utmost seriousness and care. Developing a strong marketing platform to complement the proper pricing strategy which takes into account the overall condition of a home is a recipe for success when selling a home on Long Beach Island. For more information about the three reasons homes don’t sell in the LBI real estate market or Long Beach Island real estate, call, text or email meĀ and I will respond right away.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market