I'm very familiar with the Summit market and at this price and location the house will sit for a very long time to come. I've seen much larger homes on comparison sized lots but in better locations in the $400's

Now my pitch, if you want to be in the summit or any of the surrounding areas I have serviced Millburn, Chatham and New Providence as well and specialize in Union, Morris, Middlesex, Somerset, Monmouth, Ocean and parts of Essex county I have agents in my office that cover just about every corner of NJ so if you need assistance I'll volunteer to assist in your search thru comps to contract and inspections and thereafter.

--
Victor Kaminski
Broker of Record
Marivic GMAC Real Estate
2056A Lincoln Hwy. (Rt.27)
Edison, NJ 08817-3330
Office: 732-650-9911 Ext.302
Cellular: 908-884-5757
Toll Free: 1-866-745-GMAC(4622) Ext.302

Mon Jul 28 2008, 16:28

This has been a difficult to view property because of the separate inhabitants. I think the price should be $499M and better access with a person who is easier to talk to would be the most important adjustment to make.

Thu Jul 10 2008, 05:32

This house has been on the market for approximately a year from $575,000 and reduced.
Not a great location. In this price range there are many houses in great school districts in Livingston, Millburn, Chatham,New Providence that are a good investment in great towns. If you would like to see the listings email me and I will send them to you and would be happy to take you to see any of these communities, as I specialize in Union, Morris and Essex counties. email me at caroleisenstein@prunewjersey.com

Thu Jul 3 2008, 19:13

Hi Address,

The location is not great, near commercial uses. Also, that house has been on the market forever at varying prices in the $500's. With the bad location in mind, plus the rather blah interior, I couldn't see offering much more that $430,000 or so. Of course I'd have to actually go inside to make the final determination. But be careful about homes that have a lot of visible non-residential development in the immediate vicinity. They can be a big problem when it's time to re-sell. Just ask the present owner of 5 Lincoln...

-Marc

Thu Jul 3 2008, 13:10

Hi Home Buyer in Summit, the best tool for arriving at a reasonable offer price is a thorough pricing analysis. Using comps for past sales, extrapolating the market trend and applying to comparable available homes, it calculates a price range that can be substantiated based on the facts of the market. It is a great tool for evaluating value. When I present an offer on behalf of my buyers, I have the pricing analysis at the ready. You have a far more compelling case when your offer can be substantiated!

I'm very comfortable working with the analytics and would be happy to assist you with evaluating this home and formulating an offer if you are interested.

You can find me online at http://www.feenick.com Click on The Feenick Advantage and you'll see the Price Trend Analysis listed as one of the diffentiating tools I use to make a difference to the clients I serve.

Hope to hear from you!

Best,
Jeannie Feenick
Weichert Realtors
http://www.feenick.com
Cell 908-337-0943

Thu Jul 3 2008, 10:38