How is much should I offer for this house in Saddle Brook? (Fair Lawn: hardwood floors, countertops)

[elenitak]

Hello,
I plan on making an offer for a 2 family cape-cod house located Saddle Brook, I wanted some feedback and see what would people offer.
The house is listed for 439,900, but we are planning to offer 390K but our agent told us that is too little that the seller might not considered it...bs bs...
We been pre-approved for 450K however I want to offer someone I know I can afford and feel comfortable with my budget. I know they will probably counteroffer and I would be willing to go up to 400K.
Here are some photos of the house:

http://www.zillow.com/homedetails/309-1st-St-Saddle-Brook-NJ-07663/38026682_zpid/

Also, can anyone tell me how is this saddle brook town?

PROS:

1. It's close to NYC transportation.
2. The 1st floor is totally renovated with beautiful hardwood floors, granite countertops, nice kitchen.
3. Has a garage and little driveway.
4. Heating is through force air there are vents in the whole house which eventually would make it easier if I decide to convert to centrail AC

CONS:
1. The problem is there is one 1 boliler for the whole house, meaning I would have to share the heating and hot water. The only thing is separate is that electricity.

2.Also, the windows are old.
3.I would need to fix up the 2nd floor kitchen as the cabinets are old.
4.Sandblast and barnish the hardwood floors ont he 2nd floor.

Any suggestions how much should i offer? My husband and I think that guy is overpricing the house too much. The 1st floor is nice and all but is also a very small house and besides we would need $ to invest in fixing the 2nd floor.

[tahiti]

what are the comparables? hard to say without knowing that. $440 seems high to me, but I'm not familiar with saddle brook.

[frankgn87]

not that it has anything to do with it but that house in South jersey would be no more then $225k.. Whoa.. north jersey is expen$ive!

[JG183]

a 2 family home is a "no lose" proposition.

if it will be owner occupied, the laws are on your side with regards to most conditions you may or may not want to put on the tenant.

so just ask yourself if you like the house itself, and the area.

price-wise you're in the right ballpark for Bergen County...

[Diane Giam]

That's alot of money for that house. I won't tell you what that would cost here, but its under $200,000.

Its also old.

Diane G

[zhelder]

Originally Posted by frankgn87

not that it has anything to do with it but that house in South jersey would be no more then $225k.. Whoa.. north jersey is expen$ive!

And Saddle Brook isn't even one of the fancier towns in the area. That house would be $550K or maybe even $600K in Ridgewood.

I think $390K is a fair initial offer. $450K seems a bit high to me for Saddle Brook. Comparable houses in Fair Lawn seem to be selling in that price range, and Fair Lawn is a bit fancier than Saddle Brook.

[GiantRutgersfan]

Offer what you originally wanted to.


But honestly, you might as well just wait for a year. I wouldnt be surprised if you could buy that for $315,000 in a year

[tahiti]

Originally Posted by frankgn87

not that it has anything to do with it but that house in South jersey would be no more then $225k.. Whoa.. north jersey is expen$ive!

even in moorestown?

[frankgn87]

yea even in Moorestown.. well maybe $260k in Moorestown

Originally Posted by tahiti

even in moorestown?

[stevemorse]

I would offer 385,000 then have a little room for counter offer. I would go no higher than 395,000. I would be willing to walk and I mean walk if they dont take it. Explain this and then wait for inspection then bargain more off or repaired. I think they will take the 395,000 but I would go in lower for some room to come up. Nice little home, Saddle Brook is a good town and I think an big up and coming area I have said it before. Its got location location location to the hilt. I honestly think in 10 years houses will be worth alot more due to the location. Its a commuters dream. Just about all highways major run right thru or close to it. Good luck and let us know what happens.