Suburban Realty Professionals

Buying a Condominium or a Townhouse, What’s The Difference?

The main difference between condominium and townhouse is ownership and not style.  Condominium ownership is basically from the drywall or paint on the walls in.  Townhouse ownership includes typically exterior walls, roof and a parcel of land.  When investigating tax records, land ownership for condominium will typically have”common” and “townhouse” will have a lot stated, such as 20 x 80.

Does this matter from a home buyers perspective?  Yes it does.  Potential homebuyers should ask several questions before buying.

Real Estate Markets Are Changing Again, So How To Price Your Home?

Great news, most areas are seeing home price increases.  How should a typical homeowner set the price to take advantage of the current market? 

In our office last week we listed 5 properties.  Four are under contract and one is still available.  Let’s examine the four sales.  Three homes sold close to asking price.  These properties were priced competitively and the local market responded to a bump in prices from previous sales.  The fourth property was priced slightly under the current market.  This sale had multiple offers and sold about 8% above the listing price. 

Pricing is still everything!  The one property that is still active, what went wrong? 

Should the Owner Stay During Showings?

When selling your own home, it is a natural reaction to want to be home to help with the showing.  After all, who knows their home best? 

The seller can talk about all the best features like his son’s airplane collection, the swing set that his kids used for years, the above-ground pool that covered up the hole from the underground tank removal…. Then the buyer stops in mid-stride. “Excuse me, what was that about an underground tank?”  Seller replies:  “Oh, we thought it was a problem but had it checked out and it was no big deal – just forget about it.”

What the home seller just did, in a friendly sharing of information, is brought up a big red flag in the buyer’s mind.  They will now walk out of that home with more questions than they should have at this point in the process. Everything should absolutely be disclosed, but at the proper time and in the proper format. 

Suburban Realty Professionals  ♦  Princeton Office  ♦  96 Wall Street  ♦  Princeton, NJ 08540  ♦  877-221-8787