Well, Sellers who are reluctant or not willing to accept that because of the mortgage meltdown they have been caught in a quagmire and if they don’t price their home to sell – it simply will sit on the market. Unfortunately, they will blame their real estate agent and that burden on the agent may not be deserved. Of course, if the agent just took the listing and disappeared then that may well be the fault of the agent. Another fault of the agent (and this is nothing against agents) I’m an agent too but it is the responsibility of any seller’s agent to educate their client/seller on what exactly will sell their home the quickest possible way – PRICING THE HOME TO SELL! I know it may be tempting to an agent who may be new and inexperienced or looking for a paycheck to take the listing and list the price at what the owner wants to get instead of educating your client properly about what will sell quickly in this market.
In Atlantic County, NJ – specifically Atlantic City and Pleasantville, short sales and foreclosures are driving the market. That means that prices are lower than usual and homes are selling for less. This may not make the seller happy but it is what’s going on in Atlantic County, NJ.