I am a home buyer, not an agent. My finance and I are looking for our first home together and Cranford seems to be a nice town, from what I hear from my co workers. If you still questioning selling this property could you send me an email? Thank you.

It is better to sell now or even yesterday because rates are now zooming up and folks are more insolvent than ever.

2010 will bring dramatically lower home prices. 2011....even lower.

Cranford continues to be very popular with both Buyers and Renters. One big 'plus'
is if your property is an easy walk to the Cranford train station. The Raritan Valley
train line offers convenient service into Newark and then on to NYC. I have seen
an increase in the number of prospective first-time homebuyers asking about
2-family homes -- their thought is to live in one unit and collect rent on the other.
This group, plus the traditional investor should provide a good supply of prospective
buyers for your property.

If you have not yet marketed your property, please contact me -- I'd be happy to take
a look and offer suggestions on getting it ready for sale. Our Prudential office does
a great deal of business in Cranford and we know the market well.

Marilyn Holda-Fleck
Prudential NJ Properties
Cell: 908-456-0779
Marilyn.Holda-Fleck@PrudentialNewJersey.com

I'm with the NUMBER ONE office in the Cranford / Union County area, Coldwell Banker of Westfield. In this market you not only have to price it right but work with the BEST agent/agency to get the job done.

Call me when you are ready to get it sold 908-494-7178. Check me out online at http://www.lisetteguzman.com.

Hi Cnh,

I would look at the big picture of my own personal financial goals . I would look at the property carrying cost compared to the market rent in that area. If this is a good return on the money you already have in it and you don't need the money for some other venture, you may want to keep it for several years.

If you don't want to be a landlord and want to look at keeping the money in any number of fund markets, maybe that is the route. Deborah was right about the investors being readily available, especially income property.

Investors are very active in the marketplace right now. Investors know this is a buyers market and seek oppty. The owner occupants are the more cautous buyers. The investors know what makes sense, and are willing to act when the numbers add up. So, yes, it is a good time to sell if you want to price for today's market.

If the property is priced accurately, reflecting its condition and rent roll, you shouldn't have an issue selling it today's market. My office does a lot of business with investors in the Cranford/Westfield area that are purchasing multifamilies all the time. Even in a market that's not growing like crazy. For an investor, if the numbers make sense they will buy. If you intend to market to somebody who will live in the home and rent the other unit, it is a different marketing approach. I'm in Westfield and can be available to chat any time. I can stop by, take a look at the property and provide you with a detailed evaluation. Please contact me with any further questions. Good luck.

If you are in a position to get positive cash flow from the property, you may want to hold on to it. If that is not the case , you will need to price the unit properly to get it sold. The days of putting something on the market for more than market value and getting it sold are past. Depending upon the size of the 2-family and condition, you could expect a sales price between $425,000 and $550,000. If you need a more exact figure please contact me with more details on the property and I will be glad to help.

Hi Cnh,

If it will be a nice clean property once the work is done, then I don't think there will be a problem selling it. This also presumes it is not located on a very busy road or near industrial uses or power lines, etc. If it has 2 two-bedroom units, or maybe a two and a three, a typical selling price over the past year for a property like this has ranged from the low 400's to the low 500's. If you would like a property study and marketing analysis, just contact me through my website and we can go into more detail.

Meanwhile here is a link for all Cranford 2-family property sales in the past year:

http://www.marcpaolella.com/myblog

Happy New Year!

-Marc