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Last week, new owners officially closed on a townhouse at 45A Webster Avenue in The Heights neighborhood of Jersey City. Although a gem itself, the property was not the most remarkable aspect of the deal. Instead, what’s turning heads is the selling price, a full $100,000 over the asking price.
The property, a single-family brick townhome, was listed for $605,000 by The Mumoli Group at Keller Williams City Life Realty JC. The well maintained and tastefully updated historic home attracted significant interest from multiple parties which led to a bidding war that drove the price up nearly 20% to $705,000.
Michelle Mumoli, head of The Mumoli Group, is quick to point out that the deal wasn’t simply a stroke of luck. Rather, it’s indicative of an ongoing strategy the team has implemented that regularly achieves over asking prices on their listings.
“With the new tax assessment and shifting market sellers are often misguided by old comps, possible competing inventory [priced higher] and inaccurate information on Zillow,” says Mumoli.
Careful not to give away too much about their strategy, Mumoli does say it’s a combination of a very specific pricing strategy, combined with intimate knowledge of the neighborhoods they work in, as well as a robust marketing approach that ensures the property is seen by as many potential buyers as possible.
A look into the team’s recent deals shows their strategy is most definitely working.
Mumoli, who became a realtor in 2014, has quickly become one of the area’s top agents. She attributes this success to her experience managing her parents’ residential buildings in Newark. Her first year as an agent, Mumoli sold over $5M in real estate. Since then, she has assembled a team that has become one of Keller Williams City Life JC’s top grossing.
Even with their recent success, the team isn’t slowing down. Mumoli’s next step is into new development marketing. The team currently has over 250 residential units in the pipeline that will be completed from 2019-2020, mainly in Journal Square, The Heights, and Bergen-Lafayette.
The team is always eager to work with new clients. If you have a home to sell or a new development to market, reach out to Michelle Mumoli at 917-268-8916, [email protected], or visit www.michellemumolirealestate.com to see how the team can help you.