“The houses that are priced right not only sell faster, but they tend to sell for a higher price than those that start out with asking prices that are too high, from what we see.”

The housing market in New Jersey has been on a little roll toward recovery — the number of sales has risen and the number of houses on the market has fallen for four straight months — even though activity cooled slightly in August for the country at large.But what does that mean for home prices? A halt in the decline? Even, possibly, a start in the other direction? “In some neighborhoods, I have to say yes, prices are starting to go up,” said Karen Eastman Bigos, a partner in the Towne Realty Group, based in Short Hills, one of the highest-priced markets in northern New Jersey.On the other hand, she and others say, brokers continue to encounter sellers who are “stuck in 2006.” Some people hear news reports about the improvement in conditions nationally, and insist on pricing their homes at precrash levels, Ms. Bigos said.“Inevitably, that house does not sell,” she said. “The houses that are priced right not only sell faster, but they tend to sell for a higher price than those that start out with asking prices that are too high, from what we see.”
By Antoinette Martin, Oct 25, 2009 NYT

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