Market Conditions in Matawan>Question Details

Tom, Other/Just Looking in Laurence Harbor, NJ

What do you think of The Preserve condos in Matawan next to Charlie Browns?

Asked by Tom, Laurence Harbor, NJ Tue Jan 6, 2009

Is anyone fimiliar with American Home Properties and do they build quality product? Also, are these priced right for the Matawan 07747 area?

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5
These apartments are way overpriced. There is a Low Income component and the types this brings in will reduce the quality of life. If they were priced in the low 50's they might be able to attract singles and then - they would of course - have to shed the low income aspect before any considerations are to be made.

I agree with some of the other bloggers this is a slum waiting to happen.
0 votes Thank Flag Link Sun Apr 25, 2010
THESE LOOK LIKE MATAWAN'S FUTURE PREMIER SLUM AREA. WHO IN THEIR RIGHT MIND WOULD BUY ANYTHING ABOVE THE 1ST FLOOR. THESE MONSTRACITIES LACK 2 ELEVATORS PER BUILDING. REMIND ME OF WHAT WAS BUILT SOME 90 YEARS AGO.

THEY ARE SO MODERN THEY EVEN LACK A CLUB HOUSE , POOL AREA, BOCCE COURSES HORSE SHOE PITCHING AREA, SHUFFLE BOARD AREA.

I WOULDN'T OWN ONE IF THE PRICE RANGE WAS FROM $20,000 TO $25,000.
0 votes Thank Flag Link Tue Oct 13, 2009
I looked at these and had these concerns.
They have 31 houses allotted for Affordable housing. The first building is not seperate from the rest and am afraid that the place may become a run down one down the line in years to come.
The parking space seems too congested. Should expect dents from neigbor cars.

In these conditions I dont value this more than 230,000 and cant consider it a luxury living.
0 votes Thank Flag Link Wed May 20, 2009
Hello Tom:

According to my research, American Properties Realty, Inc. and its affiliated companies have created over 15,000 homes: from luxury single-family estates to master planned communities of apartments, condominiums, and town homes throughout New Jersey.

The Preserve in Matawan offers...

*Luxurious 2 BR/2 Bath condos up to 1,600 sq. ft.
*Convenient to the Garden State Parkway, Rt. 9, Rt. 34,
*Rt. 35, and Rt. 79
*Less than 2 miles from the Matawan Train Station


This type of condo community seems to be attractive to the following kinds of buyers:

1. Those who are currently renting and looking for their first place to actually own.
2. Those who currently own a condo or a townhouse, but would prefer to live in something that's newer construction.
3. Those who own a single family home but are looking to scale down a bit to something a little more smaller or compact.

Regarding the point that "CNJ" made below, no the community does not offer elevators. However, there are other 3-level communities that also do not offer elevators, but have done well over the years. They included the condos in Knob Hill (Manalapan) and Gateway Park (Keyport).

Typically, anyone who doesn't like climbing a lot of stairs or the elderly will opt to purchase a unit on either the 1st or 2nd floor vs. the 3rd floor. On the other hand, the 3rd floor units will probably be more attractive to buyers who want more of a view or don't like someone living over top of them.

The price on these units are listed as starting at $269,990 which is a bit on the higher end for the current market, but not surprising since it is new construction. However, keep in mind that price is almost ALWAYS negotiable. It's probably a good idea to make sure you have an agent who works to make sure your best interest is served, and to ensure you purchase a home for the best discounted price.

If I can be of assistance to you, don't hestitate to call on me.


All the best,
Amber

AMBER NOBLE-GARLAND
Weichert, Realtors (Marlboro office)
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

http://www.AmberLovesRealEstate.com

"Thank you for the referrals of your family, friends and colleagues. It is the highest compliment you could ever pay me."
0 votes Thank Flag Link Sat Jan 24, 2009
The apartment itself is very nice and spacious. But it lacks elevators and cud be pain for third floor residents. Who does not have elevators these days for new 3 floored condos? It also lacks garages but I heard there are sufficient parking lots. The sale price is too expensive i think for 2br in that area but I ain't an expert in that area.
The taxes in Matawan were increased last year , so that itself cud scare some people off. Who increases taxes during recession? Must be a dumb or corrupt town. The maintenance fee does not include pool and club house, therefore I feel is too high.
0 votes Thank Flag Link Sat Jan 24, 2009
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