CirclingVulture's Q&A

The $1.1M price tag undoubtedly kept many away.The similarly-priced 18 Fielding Road, MLS # 2765090, will sell long before this property sees its next open house.

RE: 93 Meadowbrook Rd, Short Hills, NJ 07078   This sideways cape is now priced $50,000 above the bubble peak asking price that buyers ignored.   A market decline of 5% below the 2006 bubble peak asking price is $617,500.   A 10% decline is $585,000.  20% is $520,000.  30% is $455,000.   How does one get from $500,000 to $750,000?   Below is the listing history for this property:   Mar 22, 2006 - $799,000 - MLS # 2259341   Apr 06, 2006 - $749,900   May 03, 2006 - $725,000   Jun 03, 2006 - $700,000   Jun 15, 2006 - $699,000   Jun 17, 2006 - $679,000   Jul 14, 2006 - $650,000   Aug 09, 2006 - WITHDRAWN   Apr 07, 2010 - $700,000 - MLS # 2761198   Posted: April 9, 2010   http://www.circlingvulture.com

RE: 425 Hartshorn Dr, Short Hills, NJ 07078   Is $500,000 a lot of money?  Is 452 Days on Market a long time?   After 452 Days on Market, this property just sold for $500,000 (42%) below asking.   Below is the listing history for this property:   Jul 07, 2008 - $1,200,000 - MLS # 2547212   Aug 05, 2008 - $999,999   Nov 16, 2008 - $899,000   Jan 08, 2009 - WITHDRAWN   Jun 05, 2009 - $749,000 - MLS # 2688816   Oct 06, 2009 - WITHDRAWN   Oct 28, 2009 - $745,000 - MLS # 2724369   Mar 19, 2010 - Under Contract   Mar 23, 2010 - Closed at $700,000   Posted: March 23, 2010   http://www.circlingvulture.com

RE: 15 Ridge Ter, Short Hills, NJ 07078   This property has been on the market for 212 days, and is now on its 4th listing.   Below is the listing history for this property:   Sep 17, 2008 - $1,195,000 - MLS # 2579823   Oct 06, 2008 - $1,075,000   Oct 13, 2008 - $1,095,000   Nov 25, 2008 - WITHDRAWN   Feb 13, 2009 - Active   Feb 13, 2009 - $995,000   Mar 03, 2009 - $995,000 - MLS # 2658358   Apr 04, 2009 - $979,000   May 01, 2009 - $979,000 - MLS # 2679037   May 16, 2009 - $959,000   Jul 01, 2009 - WITHDRAWN   Feb 28, 2010 - $998,000 - MLS # 2749263   Posted: March 1, 2010   http://www.circlingvulture.com

Frank, are you planning to contribute anything of value here, or is the plan to continue making vacant postings in the hopes of drumming up business?To EricTT, the property directly behind 151 Lawrence, all the way to White Oak Ridge Road, is the Township of Livingston.  According to local papers, within 12-24 months, low income residents will be your new neighbors. 

RE: 18 Brooklawn Dr, Short Hills, NJ 07078   Public records indicate the foreclosure process for this property began on January 13, 2010.   Property Details-- Last sale: $1,750,000 on June 16 2003-- Annual property taxes: $30,521-- Square feet: 4,167 -- 5 bedrooms, 4 baths-- Acres: 0.88Posted: February 17, 2010   http://www.circlingvulture.com  

If it wasn't obvious, that was of course a joke.This split-level was overpriced when first listed in 2006, and at current asking price isn't even for sale.  May as well ask $2M; same net effect.

It's different here, Wall Street bonuses, good schools, real estate only goes up, etc, etc, etc.This split-level was first listed in April 2006, or almost 4 years ago at $1,299,000, and was listed 5 times at essentially the same price until pulled in May 2009.

And below is the listing history for 54 Meadowbrook Rd:   Apr 16, 2008 - $799,000 - MLS # 2508889   Jun 14, 2008 - $760,000   Jul 15, 2008 - WITHDRAWN   Feb 03, 2010 - $829,000 - MLS # 2743278   Posted: February 4, 2010   

RE: 54 Meadowbrook Rd, Short Hills, NJ 07078   This house remains fundamentally unchanged since it was listed for sale in 2008.  The most significant change, however, is a $69,000 increase in asking price.   The listing claims the house has been "beautifully updated" but in reality the interior has received a fresh coat of paint.  For example, the oak vanity in the master bath has been covered with a coat of white paint.  In the kitchen, updated counters have been laid on the old pressboard cabinets, the old appliances also remain.   Home prices have easily dropped 10% since this property was last listed in July 2008 at $760,000.  In today's market that translates into $684,000 + $5,000 in new paint = $689,000.   But the house didn't sell when priced at $760,000 in 2008.  If a 2008 asking price of $700,000 would have cleared the market, in today's market that translates into $630,000 + $5,000 in new paint = $635,000.   Some nearby sales:      47 Meadowbrook: Sold Oct 2008 at $761,000      49 Meadowbrook: Sold Aug 2008 at $699,000      55 Meadowbrook: Sold Mar 2008 at $565,000      78 Meadowbrook: Sold Jul 2009 at $512,000      58 Wellington Ave: Sold Jan 2008 at $600,000   And 18 Meadowbrook:      Jun 2004 - Sold at $755,000      Oct 2006 - Sold at $705,000      Jul 2009 - Sold at $655,000   Posted: February 4, 2010   http://www.circlingvulture.com