Home Buying in Summit>Question Details

Michelle, Home Buyer in Hoboken, NJ

Thoughts on this home in Summit?

Asked by Michelle, Hoboken, NJ Mon Jul 21, 2008

I have seen this property on the market for a while. It seems so modern and nice from the pictures, is there a reason it hasnt sold yet? Is there something the pictures are not showing?

http://www.era.com/trulialisting/2524813.html?utm_id=20

Thanks!

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Hi Michelle, this home has been on the market since 6/11 - I've taken a look at the listing on the Garden State MLS and I can see why it grabbed your attention from the photos - and it looks to have been very nicely renovated.

The original home was built in 1929 - the last record I can find for its sale is in 1994 for $120K - it was a 3 bedroom, 1.1 bath Colonial. The lot size is .13 acres - that's a pretty small lot.

Clearly the renovation and expansion has been superb - but I think it may be stretching the limits of what the lot and area can carry. I've taken a look at the history of sales on the street and would be happy to share the full info with you. There have been two sales in the last year, $393K and $460K, lesser homes for sure, but lots almost twice the size.

This home is a bit of a one off, not to say that other homes on this street will not be renovated and expanded to a similar level, but for now, it is a bit of a "one off". My assessment is that there is a limit to how far you can stretch the envelope and this home may be testing that.

A very nice home at a great price point in a desirable town with a great commute in to the city. It may be the nicest home on the block for now.

Let me know if you'd like to take a look at this home or explore other options in Summit or elsewhere. I'm also happy to send you more details on the information I was able to pull together. Reach out to me via email if you'd like to discuss further.

Hope to hear from you Michelle!

Best,
Jeannie Feenick
Weichert Realtors
Search and connect at http://www.feenick.com
Web Reference: http://www.feenick.com
1 vote Thank Flag Link Mon Jul 21, 2008
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