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?


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Jeanne Feeni…, Agent, Basking Ridge, NJ
Mon Jul 21, 2008
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!

Jeannie Feenick
Weichert Realtors
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