Upper Montclair Comp Killer!

Today’s Comp Killer* comes to us from Upper Montclair, NJ.

This home was purchased in December of 2006 for $490,000:

GSMLS# 2312373 – 48 Northview, Montclair NJ
List Date: 08/23/06
Original List Price: $529,000 (Multiple relistings, actual OLP $649,000)
Purchase Date: 12/14/2006
Purchase Price $490,000

It returned to market a bit more than a year after it was purchased, except this time as a short-sale.

GSMLS# 2449770
List Date: 10/02/2007
Original List Price: $499,000
Current Price: $439,000

In Summary:

Purchased: 12/14/2006
Purchase Price: $490,000

Currently for sale:
Asking Price: $439,000

* Note: Not all properties featured in Comp Killer would be used as comps in the case of a formal appraisal. Short-sales and foreclosures, because of their pressured nature, are not typically used as comp sales for an appraisal. In typical mark-to-make believe fashion, appraisers don’t consider ‘forced’ sales to be representative of the market.

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6 Responses to Upper Montclair Comp Killer!

  1. rhymingrealtor says:


    Surprisingly nice looking on the inside. From what I could see from the pics.


  2. grim says:


    It’s in a terrible location, this is the last house before you hit the retail and parking on Bellevue (online maps have it much further down the street). Would be a great location for office space or small retail, actually.

    Also, you don’t have a ‘real’ driveway or garage. You basically have a space for a single car where the front lawn would be.

    Not much of a yard either, and that backs to retail/parking as well.

    Might be a good property for a single person looking to be close to the Valley shopping area and quick access to the train. The train is really just a block up the road.

    I’d consider it a condo equivalent with a bit of style.

  3. grim says:

    One last thing, some might find the $12k in property taxes a bit excessive.

  4. rhymingrealtor says:


    I saw the taxes, not for me. If I were to buy anything with taxes over $7200, I’ll be paying more in taxes than rent. No effin way.

  5. Greg says:

    I can rent a nice apartment for 1 person for what they pay just in taxes.

  6. Richie says:

    That’s not even worth 1/2 their asking.

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