Dave H., Both Buyer and Seller in 07093

Weighing selling vs. renting out my 2BR2BA3rdfl condo indoor pk in Port Imperial, West New York. Any idea on how much I can expect for sale or rent?

Asked by Dave H., 07093 Sat Sep 24, 2011

It has hardwood floors, 1,100 sq.ft., stainless steel kitchen appliances, granite counters and floor-to-ceiling windows in the livingroom. Faces SW. Not sure if selling it is worth it if I can rent it out at a good price. Is there even any market for renting a place like this?

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I often wonder how these old questions resurface. Most likely it's the last question asked in an area not very active on Trulia and a local agent sees it, assumes it's new and answers? That would be my best guess, but I love how they then take on a whole new life and round of answers...
0 votes Thank Flag Link Fri Dec 7, 2012
I think most agents don't take the time (or they forget) to check the date - they are just too eager to answer!!
Flag Sat Dec 8, 2012
Hi Dave,

I have sold over 40 units at Port Imperial over the last couple years. I am also an owner at Port Imperial myself. Please feel free to reach out and I will be glad to help you with evaluating the recent sales.

April Hartmann
NJAR Circle of Excellence 2004-2011
Coldwell Banker Residential Brokerage
2151 Lemoine Ave
Fort Lee, NJ 07024
201-461-5000 office
201-723-3772 mobile
http://www.luxuryonthehudson.com

Recognized by Realtor Magazine's Top 30 Under 30 for 2008 as one of
the top agents in the country.
http://www.realtor.org/archives/featurejune08_30u30

Visit me on Facebook
http://www.facebook.com/pages/Luxury-on-the-Hudson-Real-Esta…
0 votes Thank Flag Link Fri Dec 7, 2012
Pedro - since this question was asked well over a year ago , I doubt very much that the poster is still looking for answers.or advice.
0 votes Thank Flag Link Wed Dec 5, 2012
Invite in several agents to have this specific conversation - ask them to be prepared with pricing and a marketing plan for both scenarios. You'll get the pricing info you seek and be able to put the agents to the test before making a commitment to any one of them.

The rental market is strong - but there are also good buyers out there. Do your homework, engage the services of the best agent you can find, and you will be on your way.

Good luck and best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
Web Reference: http://www.FeenickHomes.com
0 votes Thank Flag Link Wed Dec 5, 2012
Dave,

It sounds like you have a very spacious and smoking place !!! I don't see why it would be a problem renting it. The rental market is super hot now !!! I'm sure that if you price it right, you can find the right tenant in no time. Remember...only rent to the right tenant....I wouldn't be surprised if you can rent it in less than a week. The decision of selling vs. renting depends on a couple of variables...If you will stay in the area, or plan to move soon, price at which you bought and can possibly sell your unit, and the difference between mortgage/taxes/maint/insurance payments and rental income you will receive from your tenant. I live a few blocks away from you, and can help you with any additional questions or concerns you may have. Contact me if you have any questions....(201) 927-6054, or pgonzal_2000@yahoo.com. Good luck to you! Pedro.
0 votes Thank Flag Link Fri Nov 30, 2012
Good to know there's at least still a market for rentals. Thanks, I'll be sure to contact an agent soon...
0 votes Thank Flag Link Sun Sep 25, 2011
Rental market is really hot right now so chances are you could get a "good rent"...but if it's good enough for you depends on many factors: the conditions of your apartment, view, location, ...in which apartment building it's located...if you need to cover a mortgage, etc... taxes, insurance and maintenance also play a major role in such a decision...

Selling it will depend on how much you paid for the apartment, how much it is worth now ..if you stand to loose a lot of money or not...and how the market will perform in the next few years...

Yours is a very complicated question and the answer depends on too many variables

That's why real estate agents still have a purpose in this day and age.... we are here to help our clients get the best possible information about the current and future market and give them the tools they need to reach the best decision for them...in this market, I believe it is really crucial to seek sound professional advise

My office is in Hoboken and I work in all the towns along the Hudson.. I know the local market really well and I'll be happy to talk to you and could give you a quick snapshot of what your options are...
You can contact me by calling my cell at: 862-215-5489..
and no.. don't worry... it can be just a friendly conversation without pressure to sell or rent either way
Web Reference: http://www.empiregroup.com
0 votes Thank Flag Link Sun Sep 25, 2011
Hi Dave,
Yes, there is a market for renting your home. And my Livingston colleague below hit the questions that you need to ask yourself right on the mark as regards the evaulation of renting v. selling. I am a local agent specializing in the WNY market and, as every property is individual, would be pleased to have you contact me to set up an appointment to see your home towards working up a sale/rent pricing analysis.
Best regards,
Elena Schwartz, ABR(r)
Sales Associate
Weichert, Realtors
Million Dollar Sales Club
Weichert, Realtors Executive Club 2010
NJAR Circle of Excellence 2008, 2010
(O): 201-392-3939 x148
(C): 201-600-1612 (best contact number)
(Fax): 201-765-9759
eyschwartz@weichert.com
0 votes Thank Flag Link Sun Sep 25, 2011
Hi Dabe

So, what do you consider to be a "good" rental price?

I am not familiar with the Port Imperial market, but ...much will depend on whether you CAN sell it at a number that will cover your mortgage, and won't require you to bring money to the table...........the size of your mortgage will be the big factor.

In addition - are you willing to have it cost you money every month if the rent isn't enough to cover the mortgage payment?

Decide what your comfort level is between the 2 possible options......and then you will need a market analysis done by an agent knowledgeable in your area.

Best wishes............
0 votes Thank Flag Link Sun Sep 25, 2011
Consider inviting a few local agents from different realty companies and ask for a cma--comparative market analysis; review the data to determine worth, ask opinions, and go from there....
0 votes Thank Flag Link Sun Sep 25, 2011
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