Hackensack condo price potential ? (Tenafly: real estate, rent, HOA fees)

[bluewin888]

How much is average price to buy or rent 2 bed 2bath ? 280k? $2300?


How long does it take for its price to double ? Say from 250k to 500k?

[HudsonCoNJ]

I thought you were the real estate expert that pays below market price.

[lancers]

lol

[bluewin888]

Someone trying to sell a condo to me at half of market price.


But who wanna live in a condo ?

[midnight_thunder]

Originally Posted by bluewin888

Someone trying to sell a condo to me at half of market price.


But who wanna live in a condo ?

Are you sure it was a condo? Might it have been a coop? If it was a condo, any special assessments?

[kosb]

Originally Posted by bluewin888

Someone trying to sell a condo to me at half of market price.


But who wanna live in a condo ?

Check for the HOA fees, some of these condos are known for super cheap price but tack in $800-$2000 per month HOA fees.

[dcb175]

Originally Posted by bluewin888

Someone trying to sell a condo to me at half of market price.


But who wanna live in a condo ?

I mean, if it's truly half of market price (which I doubt, but will play along), then by all means purchase this yesterday. Put it on the market tomorrow at the market rate, and with the way real estate is going now you'll profit tremendously.

In terms of who wants to live in a condo, tons of people: empty nesters, young people just starting out, people who travel a ton and need a low maintenance home base, etc. The condo is not the issue here.

As others have mentioned, location (Hackensack does not strike me as prime condo territory) and HOA (you don't want it too high, but definitely don't want a weak HOA either). Outdoor space sells right now, some condos have that and others don't.

[JakeinChina]

Originally Posted by bluewin888

How much is average price to buy or rent 2 bed 2bath ? 280k? $2300?


How long does it take for its price to double ? Say from 250k to 500k?

I thought you were going to live in Tenafly and raise Ivy League school kids?

Hackensack condo's doubling? HAHA. This isn't China where home prices in cities increase so much that within 3 or 4 years the price is then double what it was.

Hackensack condos will never increase in price that much because the HOA and taxes are high.

[zhelder]

The threads have been getting more and more bizarre the past few weeks. Still waiting for Potanta to jump out and scream “SURPRISE!!!”

[Mightyqueen801]

Originally Posted by bluewin888

Someone trying to sell a condo to me at half of market price.


But who wanna live in a condo ?

Obviously hundreds of thousands of people want to live in a condo, or they would all be empty. WTH?