My rio vista condo in Mahwah has been for sale since Sept. 2007 - excellent condtion, great unit, etc. it has

Asked by Bonnie Diana, Mahwah, NJ Tue Jun 10, 2008

not sold and I have reduced it 5 times and am willing to take any reasonable offer? What gives? Any advice much appreciated. It is on NJMLS.

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15
Pamela Stets…, Agent, Mahwah, NJ
Mon Mar 9, 2009
Actually, Rio Vista's Walsh Hall is very affordable --- but there is a maint charge as with any one, two, or three bedroom condo in Mahwah and there are lots to choose from...And, since you are a first time home buyer you will qualify for the $ 8,000 tax credit --- if you buy by October of this year ( and if you have not owned a home - condo or otherwise for three years ). NOW is the time to buy...whatever meets your needs since prices are lower, interest rates are the lowest they have been in over 30 years, the tax credit AND no capital gains tax up to $250,000 per person if you stay in the home for 2 or more years.... so...it is a great time to buy.
If you need a local agent --- give me a buzz!
1 vote
, ,
Sun Oct 10, 2010
Bonnie, when you posted this question, you were on the market for 9 months. Can you tell us what ended up happening? It is now more than 2 years after you posted your question.
0 votes
Bernardsdaug…, Both Buyer And Seller, Franklin Lakes, NJ
Sun Oct 10, 2010
If itas on the market that long, (2007?) it's become a "sleeper" according to realtor terminology.. Whomever relists it lower, will come out looking like a prince or princess when it sells low. :(
0 votes
Ronald Gavri…, , Mahwah, NJ
Tue Dec 8, 2009
The problem is not the community or condo. The place is amazing. It's the poorly managed association and it's crazy board of directors has lead to the non-marketability of your home. Any experienced Realtor would know not to bring clients to the site because the deal would never pass attorney review.
0 votes
Themis Nissi…, Home Owner, Ramsey, NJ
Mon Mar 9, 2009
I was just presenting an example of how most people who are buying in this economy are going to tend to try to get something better for their money than they normally would have.
I would venture to guess people would be quicker to go for a 2 bedroom now, instead of an upgraded 1 bedroom at that pricepoint.

All those amenities have a cost beyond the purchase price, ie monthly fees.
0 votes
Pamela Stets…, Agent, Mahwah, NJ
Mon Mar 9, 2009
Actually -- the price points are dramatically different. You cannot buy a house in Mahwah for the same price as a one bedroom condo in Rio Vista --- they don't exist. You have to compare apples to apples. And, currently there are no single family homes priced in the 300,000's in Mahwah ( unless you are taking about a mobile home or modular ). So, realistically, there are a couple of really great 1 and 2 bedroom condos in Rio Vista's Walsh Hall that are in the 300,000's , have luxury appointments including granite kitchens and baths, full service gym, tennis courts and a pool --- and 24 hour security. A value in any market.
0 votes
Themis Nissi…, Home Owner, Ramsey, NJ
Mon Mar 9, 2009
Problem here is as someone else said, it is tough to sell 1 bedroom units in rio vista in this economy. The bigger units are nice, but at that price, I would rather have my own garage, so would be more likely to opt for something like birchwood hills.
Im bypassing all of the above as a first time buyer, and shooting for privacy and a house...Im sure im not alone when it comes to the first time home buyers who are PREPARED to buy right now.
0 votes
Pamela Stets…, Agent, Mahwah, NJ
Wed Feb 25, 2009
; ) . Thanks JOE!!! I try my best ( it does not always work...)
0 votes
Pamela Stets…, Agent, Mahwah, NJ
Sun Jan 18, 2009
Hi Bonnie --- Just following up about your listing in Rio Vista --- Let me know if it has sold and if not, how I can help market your home. I live in the area and know quite a bit about it.... Thanks again. Pamela
Web Reference:  http://www.PamelaStetson.com
0 votes
Pamela Stets…, Agent, Mahwah, NJ
Tue Jun 10, 2008
Hi Bonnie --- I have put a mini analysis together for you . I can forward it to your email...because there is a lot of rental inventory in the building right now ( I have a rental listed myself there ) so... if you want to sell it...keep it listed! OR list it for rent at the same time. I agree most answers regarding price *** but in this complex it is more than that *** The luxury amenities do come at an added cost and when there are others on the market in MAHWAH at more affordable price points it is hard to compete. And, a home warantee is a great idea or have your home CERTIFIED ( pre-inspection, title work done, etc). And, if it is currently listed with an agent. Have that FRANK talk with them to see what more they can do to stimulate interest. I live in the neighborhood --- and things are selling.
0 votes
Peter J Roge…, Agent, Mahwah, NJ
Tue Jun 10, 2008
looked at your listing - your agent has done agood job with the photos which makes your unit look real nice. There are 3 other 1 bedroom units for sale (apart from FSBO's) and yours is the best price so you are doing all you can do. Still think what I said before runs true - I did even send an email of your unit to a couple of single girls that I am trying to find places for but no luck so far.
Have you thought of renting the place? At least you should cover your carrying costs that way. Talk to your agent.
Now the Crocker mansion has sold maybe it will bring you luck!
0 votes
Cheryl Dare &…, , New Jersey
Tue Jun 10, 2008
Bonnie,
Also keep in mind that if you are competing with multiple homes in your development price and condition always matter, but what incentives are you offering as well? If buyers are looking in your development at homes; you need to make your home more attractive to them then others in the neighborhood. That is done by price and condition as well as buyer and agent incentives. Ex: Home warranty, special fianancing options, agent bonuses, etc...Ask your agent about some ideas if you don't have these already.
Good Luck
Cheryl Daigle
0 votes
Sharon Kozinn, Agent, Hillsdale, NJ
Tue Jun 10, 2008
Dear Bonnie,
It all comes down to price. You need to be listed close to where condos in your development, that are simialr, are selling at. Have any sold in the period of time your has been listed? Have any gone under contract, and are waiting for closing? These are all questions you need to ask your agent. They need to give you honest answers that you also need to listen to. You are in a beautiful development in a great location. I hope you have success.
Good Luck.
Sharon Kozinn
Web Reference:  http://www.sharonkozinn.com
0 votes
Peter J Roge…, Agent, Mahwah, NJ
Tue Jun 10, 2008
I'll be honest with you. loved these units when they converted the building. The quality of construction is the greatest. However they are a little small for the main part so would appeal to the single person and are really a little remote for the younger person who go more for Franklin Heights or Paddington Square.
In other words there is a somewhat restricted market so in a slow market this makes it more difficult to sell. Sorry to be pessimistic.
0 votes
Pamela Stets…, Agent, Mahwah, NJ
Tue Jun 10, 2008
Hello Diana --- The market has adjusted some for these condos...some things may be a concern for some buyers in this complex --- annual maintan fees, plus rio vista fees....but there are some buyers out there.... I happen to concentrate in the area if you want to chat or need help. Is it currently listed with a broker?
0 votes
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