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Home Selling in Edgewater : Real Estate Advice

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Activity 7
Thu Mar 24, 2016
Jmcisaac answered:
It is nice to see that not a single comment or response shows how a finance company views the tangible increase in value of a property due to a pet policy. In fact having worked in the banking industry for over 40 years, there is no definable difference in value in the property value with a pet policy that allows a pet over one that does not have a pet allowed policy.

If someone has a tangible benchmark showing that having a pet policy will increase the value of a property - please show the evidence.

In fact, the opposite is true, ... I am a board member of a 50+ coop, and all we have is increased complaints and litigation and issue complaints related to pets in a community and this has resulted in increased owner problems, increased fees, and litigation, and has complicated the overall stability of a community.

I am open to seeing the evidence ,yet I have inquired to hundreds of banks and brokers - the only response I see no increased valuation of the property, an easier sale for the brokers, and a quick exit for people that are leaving the community - ones that do not intend to live in the community with the issues ... no real value to residents that stay other than the elusive prospect that when time to leave ... I can exit easier so I will define the value of time = money...
... more
0 votes 13 answers Share Flag
Thu Apr 3, 2014
Andrew Tisellano answered:
Hi Manan

if you have paid $80,000 to bank in only 2 years about $20,000 of it may have been for interest not sure if your taxes and insurance was also in that $80,000 so that could be another $20,000 for taxes and insurance. that gives you about $40,000 equity plus your initial %20 is another $60,000 if you feel you can sell your condo for an additional $20,000 that is a total of $120,000 subtract your closing cost that could be about $20,000 that will give you about $100,000.

If you like I can come over and give you a free consultation on the market value of your hoe and come up with a more exact walk away number. PLease contact me
... more
0 votes 4 answers Share Flag
Sat Dec 8, 2012
Joshua Baris answered:
What increase are you referring too as it would be my pleasure to assist you with an answer... Please remember that all condos are different especially in the Edgewater area because many aspects will reflect the associations reserves and financials. Feel free to reach out to me for assistance with any of your future real estate needs. ... more
0 votes 1 answer Share Flag
Sat Dec 10, 2011
Ran Biderman answered:
If the majority of owners in any condominium rent out their units, you will have difficulty to sell since banks will refuse to loan money to any purchaser. A healthy condominium should keep a ratio of 70%+ owner occupied units. I had a few deals falling apart because banks refused to loan money when the ratio of renters was too high. ... more
1 vote 3 answers Share Flag
Mon Oct 10, 2011
Clara aguilar answered:
Edgewater has the lowest tax rate on the waterfront. Vela has been affected by the economy the same way most of Bergen County has been. However, the market in Northern Bergen County and Manhattan has faired much better than the rest of the country. ... more
0 votes 2 answers Share Flag
Sat Aug 13, 2011
Barbara Weismann answered:
Banks haven't been doing any loan modifications on coops because they're not real estate. Actually, in our Bergen County area, loan modifications are extremely rare. Banks haven't been cooperative at all unless you have been with a savings & loan paying your mortgage on time for a long while. Unfortunately this may result in a short sale but I still would speak to Mr. Bavagnoli or some other attorney who is expert in these matters. ... more
0 votes 10 answers Share Flag
Sat Feb 13, 2010
Weichert Realtors answered:
David: Debbie Rose is a well respected New Jersey Agent and very fine Person. I'm in full agreement with her and with her suggestions concerning the matter. Regards,
1 vote 7 answers Share Flag
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