U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Jersey
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-30-2009, 02:53 PM
 
Location: West Orange
174 posts, read 617,259 times
Reputation: 36

Advertisements

I am looking at some condos/town houses in cranford, nj and would like to know what they are really worth. I saw one in Parkway Village, which I loved by it was snatched the next day. The asking price was 229,900 and it was dwo levels.

Any ideas if that price is normal for the area? What should I expect when making an offer, how much down can I go with the offer?

Thanks all!
Reply With Quote Quick reply to this message

 
Old 03-30-2009, 03:15 PM
 
183 posts, read 491,534 times
Reputation: 89
Quote:
Originally Posted by Caro257 View Post
I am looking at some condos/town houses in cranford, nj and would like to know what they are really worth. I saw one in Parkway Village, which I loved by it was snatched the next day. The asking price was 229,900 and it was dwo levels.

Any ideas if that price is normal for the area? What should I expect when making an offer, how much down can I go with the offer?

Thanks all!
That price (assuming it was a 2-bedroom), was a very good price (I guess that's why it went so fast). If you loved it, you probably should have made an offer.

That said, it was Parkway Village. Not exactly the most desirable condo community in Cranford. So prices there will always be on the lower end of the condo market.
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 03:26 PM
 
786 posts, read 2,617,507 times
Reputation: 234
Both cyberhomes.com and zillow.com show those condos in the $230k-240k range, so that price you mention is slightly less than valuation.


Last edited by kalim2008; 03-30-2009 at 03:36 PM..
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 03:27 PM
 
8 posts, read 25,422 times
Reputation: 13
Wow!! that price seems like a steal!! I would expect 2 bed condos in Cranford to price around 360,000. (But it depends on how updated it is)
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 03:51 PM
 
183 posts, read 491,534 times
Reputation: 89
Quote:
Originally Posted by kalim2008 View Post
Both cyberhomes.com and zillow.com show those condos in the $230k-240k range, so that price you mention is slightly less than valuation.

Yeah...well of course one has to take both those sites with a grain of salt, as both are fairly inaccurate in this area. Accordng to zillow's stated accuracy, more than 1/3 of the time they are not even within 20%, which can be a sizable amount. A condo listed for $230 might be worth $186,000 or $276,000 based on zillow's accuracy claims. I'm not sure how much help that is to a buyer. It does seem that zillow is closer on condos, though, since they have a good number of very similar units from which to draw data. On single-family homes, zillow is often absurd, and almost always on the low side of value. Cyberhomes is simply bizarro-world.

IMO, if you get close to a zillow price, you've done very well indeed.
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 03:55 PM
 
183 posts, read 491,534 times
Reputation: 89
Quote:
Originally Posted by mommy1022 View Post
Wow!! that price seems like a steal!! I would expect 2 bed condos in Cranford to price around 360,000. (But it depends on how updated it is)
More importantly, it depends on where it is. An apartment in English Village, for instance, is always going to be worth considerably more than a similar-sized unit in Parkway Village, for instance. Visit both and it's easy to see why.
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 04:31 PM
 
273 posts, read 674,753 times
Reputation: 161
one thing to be careful of living by the parkway is burglary i hear it is common by the parkway. its a quick getaway.
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 06:12 PM
 
1,024 posts, read 3,311,972 times
Reputation: 366
Quote:
Originally Posted by midagegirl View Post
one thing to be careful of living by the parkway is burglary i hear it is common by the parkway. its a quick getaway.
I agree. While there isn't a lot of crime in Cranford, most of it, I think, happens near the parkway exits b/c it is an easy on and off to get away.
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 06:28 PM
 
526 posts, read 2,041,685 times
Reputation: 177
Quote:
Originally Posted by LeavingNJ View Post
That price (assuming it was a 2-bedroom), was a very good price (I guess that's why it went so fast). If you loved it, you probably should have made an offer.

That said, it was Parkway Village. Not exactly the most desirable condo community in Cranford. So prices there will always be on the lower end of the condo market.
What??? My buddy lived in Parkway Village for 5 years and sold his 2 bed, 1 bath condo for $285k in 2007. His place was immaculate and the complex was really nice, too. There was never any crime there. You're out of your mind.
Reply With Quote Quick reply to this message
 
Old 03-30-2009, 06:33 PM
 
526 posts, read 2,041,685 times
Reputation: 177
Quote:
Originally Posted by Caro257 View Post
I am looking at some condos/town houses in cranford, nj and would like to know what they are really worth. I saw one in Parkway Village, which I loved by it was snatched the next day. The asking price was 229,900 and it was dwo levels.

Any ideas if that price is normal for the area? What should I expect when making an offer, how much down can I go with the offer?

Thanks all!
You should've jumped on it. My friend sold a similar unit for $285k about two years ago. But the downturn in the housing market has really affected prices, which is most likely the reason it was so low. I looked there before moving to Westfield, and I thought it was really nice. You should check it out for yourself.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Jersey
Similar Threads

All times are GMT -6.

© 2005-2023, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top