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Market Conditions in Bayonne : Real Estate Advice

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  • Local Info14
  • Home Buying28
  • Home Selling3
  • Market Conditions9

Activity 10
Sun Sep 20, 2015
Ewa Kozlowski asked:
Sun Jun 1, 2014
Rania asked:
This question was asked from http://www.trulia.com/rental/3156780384-95-W-14th-St-1-Bayonne-NJ-07002
0 votes 0 Answers Share Flag
Mon Oct 28, 2013
Amos Elroy answered:
David, this isn't the humor section of the forum. I think you posted in the wrong area.

Jobs are growing and all signs are pointing to the fact that by the end of the year more Americans will have health care than ever, tackling the instability related to sudden financial loss due to illness, and the inherent loan defaults and foreclosure/short sale rates that result from that. The only reason the economy is still not accelerating at a good rate is the recent blows to it through sequestration, and the government shut down and its implications. The horse is trying to get up, but keeps being whipped down.

It's rather funny that you characterize the appreciation of the real estate market as a negative, when in fact it is a sign of economic growth and prosperity. In general, not withstanding the importance of affordable living, rising real estate values is a good thing, not a bad. And that, my friend, is a capitalist point of view, not a socialist one.

One point however, if interest rates do eventually go up, as they inevitably will, the prices in the real estate market will have to fall as a result, not appreciate further. When this happens, it will be the time at which financial liquidity will bring in fortunes, or to put it bluntly rich people will get richer. Buyers who have to take a loan, as they do not have sufficient cash at hand, will have harder time affording the properties on the market. This drives prices down somewhat due to the law of supply and demand, but cash buyers still have a huge advantage over those who need mortgage, so they can sweep the market picking up all the properties for a fraction of their actual market value.

Sincerely,

Amos Elroy
CDPE (Certified Distressed Property Expert)
SFR (Short-Sale Specialist Certified)
CHBA (Certified Home Buyer Adviser from NAEA)
CSBA (Certified Home Seller Adviser from NAEA)
NAEA Member (National Association of Expert Advisers)

Residential Real Estate Expert Adviser

Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411
http://www.HobNJRE.com
... more
0 votes 5 answers Share Flag
Sat Oct 26, 2013
Amos Elroy answered:
Hi Hany,

This rental is offered through an agency, which means that you would need to pay double rent for that month, even if owner would agree. One monthly rent for the rent, and one for the broker's fee. That is aside from the security deposit, which you would receive back when leaving.

Let me know if you would consider paying $1,600 for a month's rent, and if you do I'll talk with the listing office and try to arrange it.




Sincerely,

Amos Elroy

CDPE (Certified Distressed Property Expert)
SFR (Short-Sale Specialist Certified)
CHBA (Certified Home Buyer Advisor from NAEA)
CSBA (Certified Home Seller Advisor from NAEA)
NAEA Member (National Association of Expert Advisors)
Residential Real Estate Expert Adviser

Lic. Realtor Associate
EXIT On The Hudson Realty

(888) 462-6573 Ext. 101 / (888) HOB-NJRE Ext. 101
FAX (888) 462-6573
Office 201-437-0411
http://www.HobNJRE.com
... more
0 votes 1 answer Share Flag
Mon Sep 16, 2013
Alexander.Gonta answered:
I'm assuming the property in question is listed for sale via a broker,and not a F.S.B.O. If it listed for sale by a broker,most likely or not,the listing agent did h s or her job and showed the owner comparable sales,and the price is based on similarly priced properties in the same neighborhood or general location.

To negotiate price,you have to discuss this particular property,not an overall average involving hundreds of properties. You can ask your agent to get that have sold in the last 6 months most similar to this one. One agent represents the seller,and another agent represents your interests as the buyer.
They will negotiate back and if you put in a ,written, non-verbal offer in contract form. Negotiation without a contract to purchase, and proof of funds,or a bank pre-qualification letter is pointless.

If the seller is not in trouble,they will not short-sale the house to you. If they are financially in trouble,than the price they paid 5 years ago doesn't matter,and it's today's fair market value that is the "new" price. At which point,they would need to get their lender to release the lien for less than the amount owned. Talk to your agent. He will educate you further. Hope this general advise helps.
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0 votes 1 answer Share Flag
Sun Mar 25, 2012
Aaron Visco answered:
I am a strong advocate for bayonne as being a great place to purchase property. It has ton of things going for it such as wonderful school systems, public transportation, proximity to NY and much much more. Bayonne also has a strong rental market which makes it an Idea place to purchase a MF investment property.

I will be purchasing a 4-6 family in Bayonne shortly and do not have a doubt in my mind its the right place and for that matter time to buy!

Best of luck in you decision and feel free to contact me for more information regarding Bayonne Real estate.
Aaron
(201) 232-6493
... more
1 vote 3 answers Share Flag
Tue Nov 29, 2011
Cezary Lukawski answered:
Hi,

My name is Cezary Lukawski. I'm an agent with Weichert Realtors. It's impossible for an agent to give you an accurate valuation without actually seeing the property. I'd be more than glad to get together with you when you have the opportunity, and give you a free, no-obligation Price Trend Analysis. You can reach me on my cell phone any time at (201) 616-9844, or email me at CLukawski@Weichert.Com

Hope to hear from you soon.
... more
0 votes 6 answers Share Flag
Wed May 4, 2011
John R Cupo answered:
When you price it right it sells it self.

market is down,you know this

square foot price is around 160.00 per foot, and no demand for Bayonne property

there are 1,600 homes for sale ... more
0 votes 4 answers Share Flag
Mon Feb 11, 2008
Kathlene Meadows answered:
BEST ANSWER
Hi Anne,

I am a Real Estate agent in Bayonne for Weichert Realtors. There are currently 151 two family homes on the market today. Prices are as follows:
Low - 214,900
Median - 449,000
Hi - 770,000
Average days on the market is about 123.

I hope this will help you with the market condition of 2 family homes in Bayonne. If you need any more information, please contact me via email or cell.

All the best,
Kathlene Meadows
kmeadows@weichert.com
Weichert Realtors
(201) 240-0683 - Mobile
... more
0 votes 4 answers Share Flag
Mon Oct 1, 2007
Emily Erekuff answered:
Hi Bob,

Trulia currently shows 321 homes for sale in Bayonne as you can see if you access the link below. I'm not sure about previous years but hopefully a local Realtor will chime in to let you know.

You can also click on the 'Recently Sold Homes' tab once you access the link below to find the information Trulia currently has for sold properties in this area as well.

I hope this is helpful.

Best Wishes,

Emily Gibson
Customer Service Representative
... more
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