Yes. I agree that the form it will likely take is to build it into your purchase price so that you can essentially finance that portion of the closing costs. The seller recognizes that his proceeds are net of the concession. The one wrinkle can be that it can stress the appraisal because the bank will be looking for an appraisal to support the gross price.
Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results... more
Thank you for your reply. I know there are condos with lower taxes in Union City. But I'm interested in this particular condo. Specifically, I'm interested in knowing about the chances of reducing an assessment of $8,000 on a condo worth $250-$300K.... more
The maintenance fees are based on the square feet of the apartment...Larger the unit- higher the fee...However the maintenance fees here include almost everything...Heat, H/W, Electric, A/C,Taxes etc etc...I have a great unit listed right now...Take a look at the link below and let me know if you would like to see it...
http://www.libertyrealestate.com/listingDetail.php?891119
Thanks,
Anthony-201-937-8802
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Anthony F. Curty
Realtor Associate
2009-2011 NJAR Circle of Excellence
Liberty Realty
1 Marine View Plaza
Hoboken NJ 07030
C-201-937-8802
F-877-456-5484
O-201-610-1010
AnthonyCurty@Gmail.Com... more
If I am correct, Trulia used to append the property associated with the question, but it appears it is no longer doing that. You have to state the address if you want an answer pertaining to a particular property.
Amos Elroy, SFR (Short-Sale Specialist Certified)
Residential Real Estate Investment Consultant
Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411
http://www.HobNJRE.com
Twitter & Facebook: HobNJRE... more
Give Matt Nolan a call @ 732.513.1357. I am currently working with him on an appeal for my entire development. Tell him FRANCESCA sent you and he will take god care of you or he gets no further referrals.
He DOES NOT charge for a preliminary evaluation and he will not pursue an appeal is unjustified.
I interviewed many appraisers for my community project having knowledge of the process and this guy has certainly turned out to be a great choice. I live in a community where everyone complains about everything and to date, no complaints and nothing but kudos! So lucky am I that I can face my neighbors with a smile.
Francesca Patrizio, Broker Sales Associate,, ePro, SRES
Francesca@Patrizio.RE.com
732.606.2931 (Direct/Cell 24/7)... more
Even though this question is a couple years old I wanted to respond. I currently live in the Doric and I enjoy the building very much. It was one of the only places when my husband and I were shopping for homes that we would consider. It is in a convenient location for going into the city and our commutes to work. We both lived in Hoboken for many years and now we cannot believe we wasted so much money on apartments there. At the Doric we have views of lower Manhattan, Jersey City, and of course, Hoboken. Because of all the events that go on in the metro area we are treated to fireworks displays severals times a year from a balcony, it's great! Plus we have also reap the benefits of having a deli/pizza place, gym, and dry cleaner in the building.
I think the whole "co-ops are less popular" is more myth than anything that agents perpetuate. In general my experience with agents is that their knowledge of the buildings is based on old information and they do not understand co-ops are changing places as people move-in/move-out and the board changes. How a building was 10 years ago may or may not operate very differently in present day. Obviously as a person living in a co-op I think of that as plus so that if something is wrong than you know that you don't have to live with but can get things changed for the better. You can be as involved or not as you would like in a co-op. If you don't want to be involved, than it is no different than buying a condo where you pay your management fees. If you are involved with the co-op Board than you are able to offer valuable input and feedback as to how the building is managed. If you are lucky like the Doric you will have a great management company that is responsive and helpful.... more
I don't know about these units in particular, however I can tell you Union City will grow in the next few years. It is a quick bus ride to NYC with the bus express lane through the Lincoln tunnel. And with overvalued and saturated markets surrounding Union City, developers and buyers are starting to appreciate the potential the city has to offer.
EB... more
Wells Fargo is great lender for people with poor credit. FHA loans though some lender will go as low as 500 fico scores if you have the right employment documentation. Also There are programs out there where you can either put a down payment down as low .05% of the purchase price or get the entire down payment paid for by an asistance program or be rolled into 2nd mtg. It looks like most of the loan programs that were popular before the mortgage meltdown. are gcoming back. You just have tollok for the right bank or broker.
Let me know if you need help
cabest2@verizon.net... more
Its a concrete and steel building, so they will boast that it is sound proofed. The reality is even the absolute best construction you will be able to somewhat hear your neighbors if they are being loud. In general altessa is one of the nicer built buildings in u.city. You should also check out 4301 park-not as many amenities but a very nice solid build building. If your not working with a realtor and would like some help please feel free to call I'm very familiar with u.city and hudson county for that matter. Hope that helps anthony curty liberty realty 201-937-8802.... more
Mino,
If I understand your correctly, you feel that 10% is not good enough. As an active buyer's agent, I can tell you that you have more than enough.
In fact a number of first time home buyers generally buy with 3.5% down, which is an FHA program. I can not say for certain that you have a sufficient amount and I agree with my colleagues below which is to sit down with a mortgage professional to discuss your monthly, financial obligations. So that you can determine your buying power.
Three things you should be mindful of in this market when you go to apply for a mortgage:
You have to show good credit history. . .3 trade lines (with 1-2 years history), consistent employment, and cash reserves. I am not a mortgage professional, but I am sure you can get a list of guidelines to follow.
Also, I had an opportunity to interview Louis Soto of Mortgage Matters: Strategies for Successful Mortgage Planning. We cover this topic in terms of is 10% down "enough".
You can listen at your convenience. I left a web link for you below.... more
If you are serious about buying a home, just sale your home and find a new home! We are still in declining market so if you sale your house today you will get mugh higher than in 6 months. And, you still get a better and cheaper home ( real estate is local, not everywhere is declining) in 6 months!
Just a thought!... more
Hi Jason,
Feel free to contact me about your offer and the property in question. I am a Field Agent for several prominent property valuation companies and can provide you with real clear advice on how to proceed.
I have been a lifelong resident of Union City and can tell you this much: its all about location. Downtown Union City is flooded with short sales and it is likely that offer and acceptance prices in that area will continue declining for some time to come.
However, your case is different. Brown Street is only a few blocks away from where i live. Property values in this area appear to be nearing a trough. That is not to say that values will bounce back to pre crisis levels (a V shape).
Although i don't have a crystal ball, i can tell you that prices for the area in question attract sufficient buyers to keep prices from declining much further (unless the property really is a stinker).
Best Regards,
Daniel Alvarez
Realtor-Associate
Nextage Your Way Home Realty
2184 John F Kennedy
Jersey City, NJ
Office: 201-984-1701
dan.alvarez@rocketmail.com... more
Dear Karen,
You need to speak to your attorney, If they are not very experienced in handling short sales, you need to find someone that is. They will be able to guide you through the legalities and obligations of this sale.
Good Luck.
Sharon Kozinn... more