Not my condo Cheng it was just one of the listings we rented out. We do a lot of rentals.

BTW.
From what I hear they have already approved converting it to a gated community HOWEVER!!!
That was over a year ago! We shall see, only time will tell. I put one renter in there recently and the first day they moved in he got two of his rims and tires stolen and they were going for the others when he noticed them. He tried to chase them but they got away. They need more police patrol there if stuff like this is happening, its not a good sign. Needless to say he didn't want to stay anymore, the landlord understood and we found him a house in his price range.

Here is how you do if that happened to your condo for washer/dryer inspection.

If you do not want to bring up a fight, just remove the washer/dryer and put them into a box, and after inspection, you will be safe.

If you want to fight, bring up the issue in condo annual meating, and spread the words that you want to run for Board of Trustees, then condo management company will give you an exception. funny?

On the other hand, after you move up to bigger home years later and rent out your condo, you may realize that unit without washer/dryer cause much less problem while you get no less rent. So, you may as well fight while your are there using it, and when you move out, just remove washer/dryer to make everyone happy.

In general, what victor said is called "selective execution", so you can take condo management to court, and believe or not, you will win as condo management company will not bother to go to court in general.

But, if realtors like Victor who invest condo like this, it may be harder, the court will say, hey! you are licensed realtor and supposed to know the law. But, as a owner, and victim of existing washer/dryer, you will be exempt.

A typical reason is ask this question to condo management. "How come you know this unit has washer/dryer and you let it closed? YOU are NOT doing your job!" Say it, and say it every time in condo annual meeting...

In general, I know many condo communities in Edison are voting to change their rules to allow built in washer/dryer since it is a trend that over 65% of condo or apt in this country has that. But, it is to your advantage to negotiate based on this lack of washer/dryer, and you may save some good money as well.

So, do NOT look at items like this. Look at Mill Point is right next to Middlesex County College http://millpointe.blogspot.com/ and the high school Middlesex Academy of Science won #1 in NJ Science League Biology Competition (yes, it is not one man show, a team is compose of best 5 in each high school) over hundreds of all other high schools.

Hey! East Brunswick was #1 last year, but this year down to #5. but last year Middlesex Academy of Science won #1 in NJ Science League Physics competition. So, you know where the true value of Mill Pointe.

I can almost guarantee you that Mill Pointe will be sold out in the near future. Why? I heard it is going to build Gatehouse. Any community with security gatehouse will normally attract many buyers and value increase ... Let's see what happens, we are all around ...

Mill Pointe does have good value but I'd like to make a comment.
Most of the units there have washer/dryer in the units placed there by the owners.

Apparently it is in their association rules and regs they do not allow this, you need to use their washers and dryers and someone from the mill pointe association has nothing better to do lately but search the agents sites and make print outs from ads of sellers and owners renting their units which show there is a washer and dryer in the unit. They make a print out and mail to owner and realtor that the unit will be inspected by a certain date and if not removed will fine the owner. I knew something was wrong when someone visited my point2agent site and they emailed a property from an address millpointeca@optonline.net

Grrrr.... Get a LIFE...


--
Victor Kaminski
Broker of Record
Marivic GMAC Real Estate
2056A Lincoln Hwy. (Rt.27)
Edison, NJ 08817-3330
Office: 732-650-9911 Ext.302
Cellular: 908-884-5757
Toll Free: 1-866-745-GMAC(4622) Ext.302
http://www.MarivicRealty.com
http://www.realrep.com/
(MIDDLESEX MLS SEARCH) http://search.victor.msx.mlxchange.com/
(GSMLS SEARCH) http://www.gsmls.com/

Arvind,

I am a home owner that moved into Edison in 2005 into a townhome complex Westgate Square in North Edison. I too had calculated the same things before buying, and now I am ready to sell it and move on. I knew I had to move within 5 years even before I bought it, and wasnt concerned about reselling for two reasons, 1-Edison as prime location and 2-Westgate is by far the best, serene town home complex in all of Edison. So I took my bet....and here I am.

The point is that Edison market is shielded by the larger real estate trends due to its prime location, i.e. within 5miles to major highways and convenience to NYC commute (Metropark). For resale I can say you are betterr off betting on Edison than other parts of NJ. Besides there is a large desi community and you'll always find buyers willing to move into the area.

Check out my house if you looking to buy a 2 bedroom town home. Westgate Square is a very beautiful complex and my unit is 284. I had just put this on sale last Sunday... All details are at http://www.284westgate.com. I am selling it "For Sale By Owner".

Call me if you would like to see the home 732-688-9349 or have questions

Excellient! and if you want to buy now, make a plan to buy up starting the smallest you need, and incrementally increase the size as family size growing ...

Arvind,

First of all the terms condo and townhome are often used to mean the same thing. Technically speaking though, the terms refer to a type of ownership rather than a style of house, though sometimes even those distinctions get a bit fuzzy. Both are owned by the purchaser, and have an association to share certain costs, but WHAT you own and what the association fee covers is different. The problem really is how the homes are marketed because something marketed as a "townhome" can still have "condo" ownership.

In townhome ownership, most often you own the house inside and outside and the land it sits on, (often called fee simple ownership, which is what a single family ownership is ) and typically pay a monthly fee to have use of the association common areas and amenities and some of the common area upkeep. However, you are responsible for all exterior maintenanceand repairs, except for the common areas defined in the association by-laws. Homeowners association sues vary depending on the shared amenities. With this type of ownership, unless the by-laws forbid it, you can change the outside color, landscaping etc. since you own it similar to a single family home.

In condo ownership, you own only the interior of the home, and an EQUAL percentage and use of, all the common areas. Typically they have a monthly fee paid to a homeowners association which covers any or all of the following: outside maintenance, roofs, siding/shingles, decks, patios, snow removal, garbage removal, lawns, common areas, some insurance, ameneties (like pool/clubhouse/tennis) and sometimes some utilities like gas/electric. Depending on the amenities in the development the montlhy fee may be higher than townhome ownership, but the homeowners insurance is usually lower because all you are insuring is the inside of the home and your property inside. Typically with this type of ownership no changes to the outside can be made without condo association approvals.

To answer your question about re-sale time, no one can really answer that accurately. It depends on so many factors...location, age, current market conditions, accurate pricing, availability of units in the development, condition of the property, upgrades, etc. If you are planning on purchasing and staying in the home for more than 5 years, now is still a great time to buy real estate.

The current best valued 2br and 3br condo community is Mill Pointe at Edison http://www.trulia.com/voices/Home_Buying/_Units_of_br_br_con…

You want to buy as small as you need. Say, if you are just single or couple without kid, you may just buy a 1br condo to start with, and you can do the following:

If you need a bigger home 2 years later, you will buy a 2br condo, and rent out 1br condo.

If you need a bigger home later, you will buy a 3br townhouse and rent out 2br condo as well.

If later you need a 4br house, you will buy a 4br house, then rent out 3br townhouse...

One day you will find that real estate jump again, and then you can sell your 1br, 2br and 3br units to make profit on your investment.

Edison has a very active condo / townhouse market, if the unit is priced right they can sell in just days.

If you'd like feel free to call me, I'd be glad to help you out.


--
Victor Kaminski
Owner / Broker Manager
Marivic GMAC Real Estate
2056A Lincoln Hwy. (Rt.27)
Edison, NJ 08817-3330
Office: 732-650-9911 Ext.302
Cellular: 908-884-5757
Toll Free: 1-866-745-GMAC(4622) Ext.302
http://www.MarivicRealty.com
http://www.realrep.com