Home Buying in Weehawken>Question Details

Savvy, Home Buyer in Weehawken, NJ

What is a Co-op worth in weehawken? The apartment has views from all windows, top appliances, and upgrades in the entire space. approx. 700 sq ft.

Asked by Savvy, Weehawken, NJ Tue Oct 27, 2009

It is a 1 bedroom, 1 bathroom

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3
Desreane Daniels’ answer
I can sit with you and review recent solds according to both the tax records and mls statistics.in your builiding as well as the surrounding area. Please consider the rate of depreciation when coming up with a price. Also consider the days on the market as it relates to the absorption rate. This is all pretty straight forward stuff.

Please feel free to contact me if you'd like to review in further detail.

Desreane K. Daniels ( Desi)

Broker/ Sales person Weichert Realtors 201-286-5742, 201-333-4443 ext. 140

Weichert Ambassadors Club 2007( Top 2% of All Weichert Agents) ,

Executive Club 2006, 2008 ( top 5% of All Weichert Agents

Million Dollar Sales and Marketing Clubs 2004-2007

NJAR Circle of Excellence, Bronze Level 2005, Silver Level 2006-08

Community Builders Assocation of New Jersey

Million Dollar Sales Club, Bronze Level 2006-07
0 votes Thank Flag Link Mon Nov 30, 2009
Hello! You'll want to look at recent sales in the building and compare them to similar condo's in the immediate area if there are any. One thing that can keep co op values down or sales sluggish in a soft market are the high maintenance fees. These typically include taxes, amenities and utilities but in a soft market, for buyers looking in a certain price range, they can not afford those fees and therefore will look else where to purchase.
So if this apartment is unique in that it is one of the few places you could purchase for that price, factoring in the maintenance, with special features like great views as you say, then it sounds like it could be a great buy.

The key is to look for other very similar homes for sale in the surrounding areas, as far as someone would be willing to travel to enjoy the same conveniences as this location offers, and look for comparable homes on the market, and homes that have sold very recently. Are they more or less? I would recommend sitting down with a real estate agent to help guide you through this.

Best of luck! And feel free to reach me with any questions.

Karina Anillo
RE/MAX Gold Coast Realty
(201) 795-5200 xt 332
http://www.karinasplace.com
E: karinaa@remax.net
0 votes Thank Flag Link Wed Nov 18, 2009
Savvy,

It depends on the co-op building it is in. Location is everything and with co-ops, the value of the co-op building is many times tied into how well the building is managed and the funds the building has in reserves etc. Think of a co-op like a company/corporation. The financial health of the building is directly tied to the values of the shares which translates into the value of the units.

Feel free to email me the address of the building you have questions about and I can email you some recent sales, comps, etc.

All the best in your home search,.

Sincerely,

--
Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
347-4-HUDSON Direct
347-448-3766 Direct
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
http://www.livingonthehudson.com
0 votes Thank Flag Link Wed Oct 28, 2009
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