Paul.driving…, Home Buyer in Monroe Township, NJ

HI I would be interested In Moving to the area. Can you for example give me a guide price for a small property like 20a Rossmoor drive Nj 08831?

Asked by Paul.drivingschool, Monroe Township, NJ Mon Feb 4, 2013

This question was asked from http://www.trulia.com/homes/New_Jersey/Monroe_Township/sold/…

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Gary Blei’s answer
Hi Paul
You might be better served looking into a community like Clearbrook which is also a Adult community
Home prices there a reasonable and they are condos if you send me your emailaddress I will forward you some examples of the homes available.
Best of luck
Gary
0 votes Thank Flag Link Sun Feb 10, 2013
Hi Paul! To begin with, you should know that this home is in one of Monroe's Adult Communities,where you must be at least 55 years old. (A second resident can be 48 years old).

The property you asked about was sold in April of last year. It was listed at $24,900, and sold for $21,250. I should point out that it was a very, very small, 3 room home. It was also a co-op. When someone buys a co-op, they are not actually buying property, but instead, they are buying a share in the cooperatived. It's like saying you are buying General Motors, when you buy a share of GM's stock. You own a share of the corporation, but you really don't own any "hard" assets. Also, the monthly maintenence fee is very high in co-ops, because it includes the property tax...(even though you don't own any "real" property. In the case of 20A Rossmoor Dr., the maintenance fee was $590.00 per month. Furthermore, there are more restrictions as to what you can and can't do with a co-op, than there are when you own a "Condo". A condo, means that you own the INSIDE of the home. We call it "paint-to-paint. You own the appliances, the flooring, the lighting fixtures, etc., where with a co-op, you don't own anything but a piece of paper......A share in the cooperative.

As of now, there are 15 homes available in the adult communities that are "Condos", each with at least 2 bedrooms, 2 baths and a garage, all priced from $64,500 to $100,000. Naturally, you can go much higher if you want to, depending on the specifics of the home you want.

If I can help you further, please call me on my cell phone, (732)-245-4440, or e-mail me directly at: frank.bianco@levinsonassociates.com.
0 votes Thank Flag Link Mon Feb 4, 2013
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