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Feature Homes - Homes for sale, listings, properties, & other real estate in Summit, South Orange and Short Hills, New Jersey, with virtual tours, photos, and more. Serving Union and Essex County Real Estate.
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School Reports in Summit, South Orange and Short Hills, New Jersey

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Pricing >The Value of Your House

One of the sayings from the "gold-rush" days--"Them that's got the gold, sets the price!"--is also a principle that applies to real estate. We say that a house is only worth what someone will pay for it, even though the owner, the bank, and the agent all have their own opinions about the "market value" of a home. In other words, no sale ever takes place until the buyer agrees with the price.

How can sellers arrive at the maximum "fair" price that buyers are willing to pay? Buyers (and appraisers) make their decision based on comparisons. While shopping for a home, buyers will visit many similar homes in their price range and measure the features of each one against the price. They decide which house offers them the maximum value for the price. Buyers do not expect a home to be a "steal" or dramatically under-priced, but they do expect it to be a fair value.

Sellers must determine the value that their home offers in order to arrive at the right price. The real estate agent will advise the sellers what buyers should be willing to pay for their home, but the asking price is set by the seller.

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Q	What are considered the ideal conditions for a seller's market?
A	In a seller's market, prices are firm and good houses are sold before advertised or as soon as they show up in the MLS.
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Hilary Gilles, REALTOR®, real estate agent and broker for Summit, South Orange and Short Hills, New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Hilary Gilles
Keller Williams Realty
Premier Properties Essex, Union & Morris Counties
488 Springfield Ave.
Summit, NJ 07901
Mobile: 973-615-0786
Fax: 973-376-1088
Fax: 973-763-2121
HilaryGilles@NUMBER1EXPERT.com
hilarygilles@kw.com
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