Crystal Springs Comp Massacre

20 Country Lane, Hardyston NJ

MLS# 2021088
Purchased: 8/31/2005
Purchase Price: $635,000

MLS# 2368706
Sold: 10/19/2007
Sale Price: $620,000

Commission: 5%
Post Commission $589,000

Est. Loss: $46,000
Nominal Loss: ~7%
Real Loss: ~12%

18 Country Lane, Hardyston NJ

(Tax records)
Purchased: 8/22/2005
Purchase Price: $668,750

Currently for sale:
MLS# 2348864
List Date: 6/3/2006
Original List Price $689,000
Reduced: $675,000
DOM: 102
Expired

MLS# 2429976
List Date: 7/27/2007
Original List Price $659,000
Reduced: $624,000
DOM: 86
Active

Assuming sale at asking, post commission: $593,000
Est. Loss: $75,000
Nominal Loss: ~11%
Real Loss: ~16%

17 Country Lane, Hardyston NJ

MLS# 1681774
Purchased: 6/12/2004
Purchase Price: $810,000

Currently for sale:
MLS# 2401593
List Date: 5/1/2007
Original List Price $849,900
DOM: 173
Active

Assuming sale at asking, post commission: $807,000
Est. Loss: $3,000

1 Rock Oak, Hardyston NJ

(Tax Records)
Purchased: 6/28/2004
Purchase Price: $625,000

MLS# 2219541
List Date: 11/21/2005
Original List Price: $824,900
Reduced: $765,000
DOM: 181
Expired

MLS# 2281227
List Date: 5/22/2006
Original List Price $749,900
Reduced: $699,900
DOM: 123
Expired

MLS# 2323293
List Date: 9/23/2006
Original List Price: $679,900
Reduced: $549,000
DOM: 338
Under Contract

Assuming sale at asking, post commission: $521,000
Est. Loss: $104,000

20 Bracken Hill, Hardyston NJ

(Tax Records)
Purchased:4/8/2004
Purchase Price: $675,026

MLS# 2384179
List Date: 3/12/2007
Original List Price: $774,500
Reduced: $725,000
DOM: 184
Expired

MLS# 2445805
List Date: 9/19/2007
Original List Price: $599,900
DOM: 32
Active

Assuming sale at asking, post commission: $570,000
Est. Loss: $105,000

11 Havenhill, Hardyston NJ

(Tax Records)
Purchased:5/6/2005
Purchase Price: $440,000

MLS# 2318934
Original List Price: $494,900
Reduced $399,000
DOM: 404
Active

Assuming sale at asking, post commission: $375,000
Est. Loss: $65,000

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8 Responses to Crystal Springs Comp Massacre

  1. D says:

    I was out that way yesterday. We passed a sign for some new development “Starting from the $600s!” There is nothing out there to support those kinds of prices! Those will sit & sit & sit….

  2. Hard Place says:

    Ohhh, I was looking for a little weekend retreat. Unfortunately I won’t be getting one of these until after the recession hits. Than we’ll see these for 50% off on a real basis.

  3. Ouch, I don’t know how you could start something in the 600s with this market and expect people to be flocking to it.

  4. Johnny Boy says:

    heh heh, testing italics

    test done…

  5. Johnny Boy says:

    And now it begins – they’re finally starting to “get it” in the mid-Hudson as suddenly I’m seeing…

    FACING FORECLOSURE. MUST SELL NOW. PLEASE MAKE OFFERS…

    OWNER ANXIOUS, BRING OFFERS…

    …priced below competing properties.

  6. Johnny Boy says:

    And now it begins – they’re finally starting to “get it” in the mid-Hudson as suddenly I’m seeing the following postings…

    >> FACING FORECLOSURE. MUST SELL NOW. PLEASE MAKE OFFERS…

    >> OWNER ANXIOUS, BRING OFFERS…

    >>Priced below competing properties.

  7. Johnny Boy says:

    And now it begins – they’re finally starting to “get it” in the mid-Hudson as suddenly I’m seeing the following postings…

    >> FACING FORECLOSURE. MUST SELL NOW. PLEASE MAKE OFFERS…

    >> OWNER ANXIOUS, BRING OFFERS…

    >>Priced below competing properties…

  8. Johnny Boy says:

    And now it begins – they’re finally starting to “get it” in the mid-Hudson and all the sudden I’m starting to see the following type ‘o postings…

    FACING FORECLOSURE. MUST SELL NOW. PLEASE MAKE OFFERS…
    http://www.weichert.com/search/realestate/PropertyListing.aspx?P=12498616&countyid=34514

    http://www.weichert.com/search/realestate/PropertyListing.aspx?P=11670115&countyid=34514
    OWNER ANXIOUS, BRING OFFERS…

    http://www.weichert.com/search/realestate/PropertyListing.aspx?P=8670880&countyid=34514”
    Priced below competing properties…

    http://www.weichert.com/search/realestate/PropertyListing.aspx?P=14707897&countyid=34514
    …while some are not quite ready to let common sense be their friend, I give them points for creativity though…

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