All Forum Posts by: Donald Jaronsky

Quote from @Jake Handler:

Are you running an active business with the property and land?  Can you use the revenue of the active business to do a commercial refinance and maybe pull some money out of the asset?  This way you're getting some money in your pocket without selling, to use for the next step in your real estate journey.

I have a partner and am currently no longer operating my business out of there. A refinance is a big no for him and me as well considering we are no longer generating income from there. 

I agree I believe I will be making a move to new agent. Someone who thinks a little more outside the box. 

Thanks. 

Quote from @Caleb Brown:

As others said it is priced high. How are the photos? Is it being marketing besides the MLS? Has the agent done open houses or had someone else do one? Has the agent used social media? I would make sure these things are being done, with it being unique you need it to reach a lot of people in order for it to sell.

Pictures are good not great. There is a brokers open house tomorrow. I’m really hoping that does the trick. He has it listed on multiple platforms. 

Quote from @Scott E.:

The answer for most people who are in your situation is simple - You're priced too high.

But since you have what sounds like a very niche property, there could be something else at play. Selling a property just comes down to supply and demand. If the supply outweighs the demand, you usually need to drop your price to be competitive.

In your situation though, if there is no demand (I'm talking literally no demand, not 1 buyer in town), then price might actually not be the issue. You might just need to wait until that 1 buyer comes along.

Selling something like this is going to require just the right realtor with just the right marketing plan. Have you hired the right realtor for the job?

I truly don’t feel price is the issue. The structure was built in 1790. It is almost as old as America lol. All hand carved beams, 90’ long and 30’wide 3 stories tall and has a tower. I have 2 wells on the property one at 500’ deep and the other at 750’ deep. The building is not listed as historical so new owners could make it house or whatever they want. 

I could have sold it multiple times. The zoning is my issue I’m in a residential zone grandfathered in as a garden center nursery. So that’s a pickle for me. 

I’ve spoke to the zoning officer he told me  farm to table, venue, residential, brewery, restaurant, nursery/ garden center, and landscaping company will not be a issue. But anything outside of that will be tough for a potential buyer to get a variance on. 

Quote from @Romeo E.:

Hey Donald, if your property has been listed for about a year and no offers are coming in around your price, the market is giving you a big signal that you're over price. What does your realtor say about price?

He is a very honest and experienced realtor. He believes the price should hold where it is. There are no comparable properties. Ideally it would be perfect for someone who is in the same line of work as me. I’ve reached out to other contractors in the area, ones that I know and others I don’t. Unfortunately nothing came of it. 

Quote from @Allan Smith:

Any comps to support the price you are asking? I don't know your area but a year is a wildly Liong time for a house to not sell. It's probably very overpriced. 

Unfortunately there are no comps. Nothing like what I have. I was under contract once. With my sign lot we would have closed at $630,000. He lost a very long contract he had. A good bit of his equipment was stored there. My property was not enough space for him once that fell through. 

Hey guys, I have a 5.5 acre property in blairstown NJ. I was running my landscape construction business out of it. I have a 8000 square-foot barn with 1/2 bath and it is plumbed for another half bath on the second level. The structure was built in 1790. It has all hand carved beams and really is a very unique set up. There are a few more structures on site as well. there is also a 8’ x 12‘ sign lot that I own on the main rd that I could sell with the property. 

so the property has been listed for about a year. originally had it listed for 599,000 recently have dropped the price to 575,000. I went under contract once and it wound up not being enough space for another contractor who had a much larger operation. My realtor is having a broker open house this Friday I’m really hoping that this gets the job done. 

Has anyone else ever dealt with a situation like this? If so, do you have any insight or potentially a different approach that I could take. Considering it’s such a niche property. 

Any and all comments or suggestions would be greatly appreciated