Thu 27 Mar 2008
445 Johnston Court, Watchung NJ
Purchase Price: $915,000
Purchased: 4/26/2006
Current Asking Price: $749,900 (Short Sale)
18% under 2006 purchase price
History
MLS# 2468806
Listed: 12/20/2007
Original List Price: $749,900
Days on Market: 98
Active
Doesn’t that front window look broken?
No, BIG, look at all the panes in the other windows and see the pattern.
Look at the full listing…seems to be in a state of disrepair.
I showed this house some time back. What a POS. If there’s a worse house in Watchung, I don’t want to see it.
That solves that. To be a true “comp-killer”, you’d need to be able to find another POS nearby that has a significantly higher asking price. Clotpoll unsurprisingly says that’s probably not going to happen in Watchung, so that leaves this listing as just a pure POS and not a “comp” anything. (I *really* hope the way down doesn’t include the same lack of due diligence exhibited on the way up.)
dukeb,
In this case, this was the comp that was killed.
I’m sure that over the past 2 years, this property was used as a comp, at $915k.
Given the current asking price, it can no longer be used as a comp at $915k, justifying higher prices on similar properties.
Lol. Very true, Grim!
Clot, if you show in Watchung what do you know about MLS #2477138 on Johnston Drive? My father lived there till 1997 and I’m sure he’d be interested on what’s going on with it. From what I know, it used to be listed with Weichert and is now with ReMax, it was listed $525K and is now at $499K.
I would expect a better looking house for the $799k asking price.