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Old 08-06-2013, 01:28 PM
 
8 posts, read 15,348 times
Reputation: 13

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Hello,
I am thinking about making an offer on a 2 family (5bed 3 baths, FINISHED BSMT, Hardwood floors, detached garage) home in North Arlington area I wanted get some feedback and see what would people offer.
The house is listed for $434,000 and taxes are about 11000k plus.
The 1st floor and the 2nd floor is somewhat updated .

I was thinking of something around $385-$390K but the broker was saying that may be too low of an offer
.

Any suggestions how much I should offer? I am thinking the house is overpriced .

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Old 08-08-2013, 10:44 AM
 
2 posts, read 3,411 times
Reputation: 10
Hey,

In all honesty, that actually seems like a fairly low price. As Boston has expanded, Arlington has seen its value increase. In many ways, it sits at the crossroads of many areas. To the East, it is bordered by the wealthy (and famous) Cambridge, as well as the continuously growing and gentrified cities of Medford and Somerville. To the West, it is bordered by the ultra wealthy (and beautiful) towns of Lexington, Belmont, and Winchester. Therefore, Arlington gives you the balance of the convenience of the city and the feel of a suburb (it is large enough to be a city, but refuses to get a mayor). It tends to now get a lot of people who work in Boston, but want a suburb for their family.

Are you planning to rent? Arlington has a great location, but may not be as easy to rent as Somerville, Cambridge, or Medford. (I do not know many renters in Arlington, but that does not mean they are not there.)

I grew up in Arlington and my parents still live there, do you have any specific questions?
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Old 08-08-2013, 01:38 PM
 
Location: Bordentown, NJ
160 posts, read 299,541 times
Reputation: 138
Quote:
Originally Posted by BostonChris View Post
Hey,

In all honesty, that actually seems like a fairly low price. As Boston has expanded, Arlington has seen its value increase. In many ways, it sits at the crossroads of many areas. To the East, it is bordered by the wealthy (and famous) Cambridge, as well as the continuously growing and gentrified cities of Medford and Somerville. To the West, it is bordered by the ultra wealthy (and beautiful) towns of Lexington, Belmont, and Winchester. Therefore, Arlington gives you the balance of the convenience of the city and the feel of a suburb (it is large enough to be a city, but refuses to get a mayor). It tends to now get a lot of people who work in Boston, but want a suburb for their family.

Are you planning to rent? Arlington has a great location, but may not be as easy to rent as Somerville, Cambridge, or Medford. (I do not know many renters in Arlington, but that does not mean they are not there.)

I grew up in Arlington and my parents still live there, do you have any specific questions?
North Arlington is a town in NJ near NYC, not the MA one.
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Old 08-08-2013, 05:32 PM
 
Location: Metro NYC
696 posts, read 902,355 times
Reputation: 755
Quote:
Originally Posted by km9191 View Post
Hello,
I am thinking about making an offer on a 2 family (5bed 3 baths, FINISHED BSMT, Hardwood floors, detached garage) home in North Arlington area I wanted get some feedback and see what would people offer.
The house is listed for $434,000 and taxes are about 11000k plus.
The 1st floor and the 2nd floor is somewhat updated .

I was thinking of something around $385-$390K but the broker was saying that may be too low of an offer
.

Any suggestions how much I should offer? I am thinking the house is overpriced .

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That's mad expensive for the North Arlington/Lyndhurst/Kearny area and the taxes are outrageous. You could do better in Rutherford or Wood Ridge.
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Old 08-09-2013, 04:57 PM
 
683 posts, read 458,800 times
Reputation: 514
Just look at the comps. Let them be your guide. Regardless of where the house is, or is that a fair price...your offer is way to low and pretty insulting. Just saying...
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Old 08-09-2013, 05:52 PM
 
1,212 posts, read 2,241,379 times
Reputation: 1148
We looked at a 2 family house in Carlstadt that was going for $350000 or close, that was a year ago though. What is it about north Arlington that you would pay so much? The area seems to be ok nothing so desirable.
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Old 08-10-2013, 09:40 AM
 
8 posts, read 15,348 times
Reputation: 13
Quote:
Originally Posted by arrieros81 View Post
We looked at a 2 family house in Carlstadt that was going for $350000 or close, that was a year ago though. What is it about north Arlington that you would pay so much? The area seems to be ok nothing so desirable.
I agree the price is a bit too high compared to similar 2 family homes in that area, and the taxes are around 11kplus for that house in North Arlington, NJ and its been in the market for around 1 plus month.

Only thing i like about the house is that, its partially updated and it is a block from ridge rd for easy commute to NYC.


I would rather prefer something in Rutherford, NJ, which is a much nicer area then North Arlington, NJ.

Last edited by km9191; 08-10-2013 at 09:54 AM..
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Old 08-10-2013, 12:59 PM
 
Location: Metro NYC
696 posts, read 902,355 times
Reputation: 755
Quote:
Originally Posted by km9191 View Post

Only thing i like about the house is that, its partially updated and it is a block from ridge rd for easy commute to NYC.


I would rather prefer something in Rutherford, NJ, which is a much nicer area then North Arlington, NJ.
Even if it close to Ridge Road, the NYC bus from North Arlington will meander through North Arlington and Lyndhurst before it gets to Route 3. I think you are on the right track with Rutherford.
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Old 08-10-2013, 01:11 PM
 
Location: NJ
17,574 posts, read 45,981,028 times
Reputation: 16266
Have your agent run comps.
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