Can You Actually Buy This NJ Home for $1?!...
- Alex Preziosi
- Jun 27
- 2 min read
Have you seen this? A home at 28 Reynolds Place in Newark was recently listed for… $1 this week? Yes, one single dollar.
At first glance, it sounds crazy... And it is, but actually, it’s a very smart strategy. It’s the clearest possible example of a truth I talk about with sellers all the time: The market sets the value of your home — not the list price.
Of course, pricing at $1 is an extreme example, but the point is that price is just a marketing tool. The purpose of the list price is to attract attention and drive interest. The real value of your home is what serious buyers in today’s market are actually willing to pay.
Here’s why this works:
Attract More Buyers: The lower you price, the more eyes you get — which means more showings, more offers, and more competition.
Build Buzz: Listings that look like “deals” often bring in buyers who wouldn’t have looked otherwise — sometimes even leading to bidding wars.
Let the Market Compete: When priced right, buyers will bid UP to what they’re truly willing to pay. The result? You often end up with a higher final sale price than if you’d listed too high and sat on the market.
What Sellers Worry About:
I get it — many sellers worry that if they price “too low,” they’ll leave money on the table. But if you price with a smart strategy — low enough to attract attention, but not so low it feels like a “problem house” — the market will pull you UP to the true value.
The bigger risk? Pricing too high. Overpriced homes sit, get stale, and eventually need painful price cuts — and buyers wonder what’s wrong.
How This Helps YOU:
Even if you’re not listing at $1 (and you probably won’t), the takeaway is this: strategic pricing drives the best offers.
If you’re thinking about selling this year, whether you’re upsizing, downsizing, or even relocating out of state, I’d be happy to show you what’s happening in today’s market and help you craft a smart strategy.
Sometimes that means a bold move like the $1 listing. Sometimes it means a “just under” number to maximize buyer pool. Either way, the goal is the same: more attention, stronger offers, and the best possible result for YOU.
Want to chat about how this would work for your home? Just reply to this email — I’d love to help!
