Watchung Comp Killer

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

MLS# 2468806
Listed: 12/20/2007
Original List Price: $749,900
Days on Market: 98

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9 Responses to Watchung Comp Killer

  1. thatBIGwindow says:

    Doesn’t that front window look broken?

  2. Pat says:

    No, BIG, look at all the panes in the other windows and see the pattern.

  3. dukeb says:

    Look at the full listing…seems to be in a state of disrepair.

  4. Clotpoll says:

    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.

  5. dukeb says:

    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.)

  6. grim says:


    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.

  7. dukeb says:

    Lol. Very true, Grim!

  8. Jill says:

    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.

  9. Arr Elle says:

    I would expect a better looking house for the $799k asking price.

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