$889,900? Who are you trying to kid?

I drove past this place a few times when it was under construction. It’s on Valley Road in Clifton, the Paterson side, about a mile or so from the Paterson border.

I knew it was going to be another stucco-slathered McMansion before the first coat of mud was slapped on it’s facade. However, I did think that the home was being built for someone, I didn’t believe that anyone would do this to a home in this section of Clifton to actually try to sell it.

Of course, proved wrong. The home was listed 40 days ago at an astonishing $889,900. I’m sure at this point you are all yelling “where is the link?”, so here it is:

Listing Link

It’s a typical stucco box on a cigarette property, something on the order of 60×450 or so. Good news though, it was reduced to $869,900 a few days ago. A real steal at that price.

Who are they trying to kid?

Caveat Emptor!

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24 Responses to $889,900? Who are you trying to kid?

  1. Anonymous says:

    Greedy fools late to the party.

    Remember in a bubble the majority lose in the end. Just the way it is.

  2. Anonymous says:


    Just looked at it what a shameful sight.

  3. gary says:

    lol! I pass it all the time. Garrett Mountain is ready to fall on top of it! We should all contact the Realtor and make an offer in the mid $400’s. In fact, even that might be too much.

  4. Anonymous says:

    I’ll Buy it!!! LMAO

  5. r patrick says:

    cigarette property?

    Do you know a way to get a history of sales prices for a Co-op? The bergen county tax office does not have the record of sales.

    I am wondering how bubbleicious my apartment is, and if anyone is getting the insane asking prices for what i see on GS mls. 70-80K for a studio I DONT THINK SO.

  6. Anonymous says:

    Grim, I think it looks better than this one which is a modular and is in a hispanic, bad schools district.

    The builder built about a dozen mudular homes in this cul-de=sac. But on the top of the hill he built three homes that are not modulars. Real big mansions for himself and his in laws.

  7. grim says:

    Called it a ‘cigarette’ due to the fact that the property was so long and narrow (60×455). While the property is certainly deep. It’s hardly private or a desirable shape (my own opinion).


  8. Richie says:

    Yes, I passed by that “thing” and wondered why it was built so awkwardly. The ergonics of the house (from an exterior perspective) look pretty ugly.

    It’s almost as ugly as the Cambridge Crossings Condo development. I had a chance to go inside the complex this past weekend. Don’t get me wrong, from the outside it looks like a nice place to live. Once you get on the inside, it’s complete opposite. There’s no grass, no greenery, and barely any parking. It’s so crammed that it makes Hoboken look roomy.

    Shame on Clifton for allowing such density for housing. They had a school crowding issue back in 1992 when I graduated, and now it’s only worse.


  9. grim says:

    That yard might actually make for a great ski slope for the kids in the winter. Could be a useful selling tool.

    “Fantastic yard complete with private ski facilities”


  10. Metroplexual says:


    Go to this website. http://www.njactb.org/

    As Grim has noted before it contains the last sales price if it was within th elast few years (I think to 1997 or even alittle earlier)

  11. r patrick says:


    Tried that, got the same data in the county clerks office. It’s a co-op so the owner ( the coportation ) is listed but not the units, if we were condo we would be.

    We require 20% down, and we are the only thing under 200-220K for a one bedroom anywhere near the city. All the co-op rules make it really difficult to rent or speculate.

    But the prices have doubled in the 2 years since I bought and I want to try and get the prices in like 2002 and 2000 when the bubble was ramping up. Try to see where on that 50% drop I am going to be.

  12. Anth says:

    This is pretty awesome. I read the comments on this house in Mount Olive (2112869):

    $1K AMEX gift certificate to SA if under contract by 11/30/05.

    Let the incentives begin!!

  13. Anonymous says:

    What a POS!.

    What absolute nerve of this builder to ask this insane price for such a PO Garbage!
    Hope this MFer gets burned on this house!

  14. RentinginNJ says:


    How much do you know about the new active adult housing community being built at rt. 46 and Valley Rd. in Clifton/Great Notch. It looks like 814 units “starting in low $400’s”
    Here is the link:

    So much for the “can’t build anything/out of land arguments”

  15. Richie says:

    What the hell is an active adult?

    Aren’t we all active?

    I hate these marketing terms they use these days. Baby boomers, gen x’rs, active adults, tweenies. Blah.

    Anyway, yes, a couple hundred more units on what used to be Garrett Mountain. As if we need more traffic in that area. The Rt3/46 intersection is a nightmare (even worse with 46 construction right now) and the Route 80 exit to West Paterson is also a mess. People will spend 15 minutes just trying to get off the exit ramps.

    But who cares; it’s the rest of the taxpayers wholl take on the burden for all the extra wear on the roads, and all the needed upgrades for the new homes to be built.

    Forget nature and trees; we want lumber and siding!!


  16. RoadTripBoy says:


    I think you are doing a great service here with this blog. I am looking to buy a place in the next year or two but the catch for me is that I have a great deal of student loan debt which will consume a substantial portion of my montly income. I will be fine as long as I can keep my monthly payments at a certain level (e.g., not much more than what I’m currently paying for rent). By necessity, I need to wait until housing prices come down. I appreciate your insights and your understanding of all the market data. There are truly some absurd asking prices for real estate out there and the last thing I would want to do is overpay for a property (I can always refince into a lower interest rate, but I can never refinance the purchase price!).

  17. grim says:

    I don’t know when renting got a negative image, especially for the hip & young, just-out-of-college crowd. I would think someone in that position would rather rent and have the flexibility to relocate to build their career. I really don’t see what advantage a home provides in that situation. Unless, of course, that someone is factoring in outrageous appreciation as a source of income.

    Rents in this area are very low compared to the comparable cost to purchase. Use that to your advantage to build savings as well as to agressively pay down your debt. Is this advice? No, just good ol’ common sense. I’ve said it before on the blog, and I’ll say it again. Cash will be king in the next few years, cut back on your cost of living expenses, pay down your debt, build credit (conservatively, and only if you need to) and *SAVE*.

    Caveat Emptor!

  18. Grim:

    “Cash will be king in the next few years, cut back on your cost of living expenses, pay down your debt, build credit (conservatively, and only if you need to) and *SAVE*.”

    Right on brother!

  19. Richard says:

    richie, i’ve been in cambridge crossings. what a ugly place! those disneyland fountains when you drive in, my wife and i couldn’t contain our laughter as the realtor was pointing out their elegance and charm. that place is a condo farm, plain and simple. i’ve met numerous people playing monty hall telling me i have a condo there so make me an offer i’m very motivated to sell!

  20. Anonymous says:

    Good post. I have to drive by and check it out. That’s not even the best area of town, I knew someone on Dumont ave who’s house was routinely robbed.. cars too!

    Real Estate Bubble Forums

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