Seems like the cheerleader predictions of Bergen being bubblewrapped are unfounded, just like all the rest of the real estate mythinformation going around.
Off today’s hotsheet:
Price Changes
Allendale $1325000 Reduced to $129500
Edgewater $859000 Reduced to $779000
Fort Lee $639000 Reduced to $629000
Glen Rock $735000 Reduced to $709000
Hillsdale $759000 Reduced to $739000
Mahwah $329900 Reduced to $322900
Oakland $599000 Reduced to $579000
Oakland $895900 Reduced to $894900
Ramsey $669000 Reduced to $649000
Ridgewood $1285000 Reduced to $1199999
Rutherford $535000 Reduced to $492500
Saddle River 1800000 Reduced to $1725000
Teaneck $488900 Reduced to $479500
Waldwick $729000 Reduced to $699900
Sold
Allendale $384900 Sold at $370000
Hohokus $639000 Sold at $607000
Mahwah $405900 Sold at $399500
Paramus $1425000 Sold at $1200000
Ramsey $469900 Sold at $439999
Rutherford $325000 Sold at $308000
Rutheford $520000 Sold at $505000
Teaneck $329709 Sold at $327000
Wyckoff $925000 Sold at $890000
I don’t get it, I thought Bergen County was wrapped in magical bubblewrap that protected it from market behavior? As always, don’t bother trying to catch a falling knife, you’ll only get cut.
Caveat Emptor,
Grim
Chock full of bragains!!
Seems like gravity is kicking in..
-Richie
err.. bargains
Would like to hear the realtors spin this.
You haven’t seen nuting yet
LOL!
Is Westchester, New York immune from a price correction?
Wow!!! Good stuff Grim
also, a house i’ve been following in Demarest (basic Bi-level on what appears to be a decent lot) just reduced from 795K to 749K.
the tough part is figuring out which reductions are from realistic levels & which ones are down from complete fantasyland.
we need to see the comps over the next 6 to 9 months to get a real good handle on things IMHO.
gravitymatters,
I am very very familiar with Demarest.
what’s the lot size? how many bedrooms and bathrooms? what year was it built?
InvestorDavid
the MLS# is 2531107
it is a 4 bdrm/2 1/2 bth house. we never saw it (only folled it on NJMLS) in person.
I think its been on the market for a couple of months…not 100% sure.
my wife & I like Demarest & this INFLATED house seems typical of delusional sellers here in Bergen county.
I’ll post other LARGE price cuts (in various towns) as I see them.
Oradell 535k redudced to 519K
539k reduced to 499K
569k reduced to 525k
River Edge 639k reduced to 499k
599k reduced to 549k
599k reduced to 559k
589k reduced to 539k
And these listings have been sitting for two months or more.
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gravitymatters,
I know that listig in Demarest! I have been wathing that and MLS# 2529737 listed for $699 in Haworth. I am not ready to buy, but might go see them for fun. In Englewood Cliffs, 3Bedrooms & 2baths house was reduced from $1.2m to $899K. In this town, there are 62 houses on the market and only 5 is under a million, the cheapest house is $765K!