Hello: I'm thinking of purchasing a condo in North Plainfield, NJ and I see many units for sale.

Asked by Da, Plainfield, NJ Tue Mar 11, 2008

I see many units for sale. Shall I be worried? How come there are so many that are for sale? Thanks!!!

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7
Victor Kamin…, Agent, Edison, NJ
Mon Jun 8, 2009
To answer your question I suppose it would depend on the area in North Plainfield as well as the complex and when most of those people selling first purchased their units. If they bought between 2004-2007 chances are they may be experiencing financial difficulties or are just trying to take advantage of stimulus money or the banks to bail out of their properties and limiting their losses by doing short sales.

This is not really a reason for you to worry but an opportunity to get a better deal. I would be cautious if it is a very large amount of the units in the same complex because then the finances of the condo association may be on shaky ground so you may begin to see the grounds, buildings & other items the association is to maintain not being taken care of as well anymore until they get back into better financial shape. This would be my only concern.
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed Jul 30, 2008
Hi Daria, just looping back to get feedback on your decision - did you buy that condo in North Plainfield? Condos/townhomes continue to move (ie, months to sell) more quickly than single family homes. I track these stats for various communities in Somerset County, including North Plainfield, on my website http://www.feenick.com You'll find them by clicking on the "Local Market Commentary" tab.

I think anyone who buys this summer will look back over time and consider themselves to have been wise indeed. The combination of good prices, loads of choices, and favorable rates is unusual and can't last forever.

Best,
Jeannie Feenick
Search and connect at http://www.feenick.com
Web Reference:  http://www.feenick.com
0 votes
Elizabeth (l…, , Watchung, NJ
Wed Jul 16, 2008
Hi Daria: If you're still in the market for a condo, choices are still plentiful. I have a great 1 bedroom that has many updates & in move in condition. There is also new funding available on this unit for 1st time home buyers. I would be more than happy to have you preview this condo & explain the financing available on it. If you have already purchased, I wish you the best!
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Jeanne Feeni…, Agent, Basking Ridge, NJ
Sun Jun 1, 2008
Hi Daria, have you moved ahead with your condo purchase? If not, I'd like very much to help you. I will be hosting an Open House in North Plainfield today 6/01 from 1-5pm - address is 205 Lawrence Avenue. You'll find details at http://www.feenick.com - click on Planned Events.

I've also got a great Condo for sale in Dunellen - built in 2005 (hard to find something that new in the area), in town location, and one block to the NYC train (no kidding!)

There are so many options - it is a great time to be a buyer! Let me hear from you - cell is best 908-337-0943.

Best,
Jeannie Feenick
Weichert Realtors
Servicing Somerset and Middlesex Counties
http://www.feenick.com
Web Reference:  http://www.feenick.com
0 votes
Victor Kamin…, Agent, Edison, NJ
Sat May 31, 2008
When selling worry, that is competition, when buying drool it means you have the pick of the litter!

Need help, I'll be glad to assist.

--
Victor Kaminski
Owner / Broker Manager
Marivic GMAC Real Estate
2056A Lincoln Hwy. (Rt.27)
Edison, NJ 08817-3330
Office: 732-650-9911 Ext.302
Cellular: 908-884-5757
Toll Free: 1-866-745-GMAC(4622) Ext.302
http://www.MarivicRealty.com
http://www.realrep.com
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Mon Apr 21, 2008
No worry - just opportunity! Inventory levels are high because of the market slowdown which has resulted in inventory building up and carrying forward. This translates into opportunity for buyers. You've got lots to choose from and sellers must be realistic with their price in order to succeed. Work with a good agent, negotiate yourself a fair deal and charge ahead!
Web Reference:  http://www.feenick.com
0 votes
Gina Suriano…, Agent, Scotch Plains, NJ
Wed Apr 16, 2008
This is actually a good thing! Just a few short years ago, buyers lamented that there was nothing for sale, and they were willing to pay anything to buy -even if the property was less than ideal. Now that there is alot to choose from, buyers wonder if they may be making a mistake. This is the best time to be a buyer! You have so much to choose from, and the sellers know it. You can negotiate a great deal, and with interest rates so reasonable, you will most likely do well when the market eventually turns around. Just do your homework, see what the best values are, and go for it!
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