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Re: 187 Warren
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Quite a regular
 
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I suppose "horrifying" may be a bit of an exaggeration, but let's just say I wish that our roles were reversed. It is frustrating to stumble across the few, semi-decent listings that trickle onto the market only to be greeted with a potential bidding war already in progress. As you say, that's just the nature of the market with low inventory all around, but it sucks if you're suddenly staring down price increases that were nonexistent just months earlier. Glad to hear that you were able to sell your unit successfully this summer though. I guess some of us are just better in tune with the market...
Posted on: 2012/9/12 12:57
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Re: 187 Warren
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Home away from home
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Don't see why it's "horrifying". Inventory is very low right now (especially for 2 bedrooms) and as such the market in JC has really picked up this year. Given how tight credit is, it's not like these are people buying more than they can afford, it's more a mix of people who are seeing rents rise and deciding buying makes more sense, as well as people who are priced out of other areas (especially Brooklyn) that are increasing the demand in JC. But prices are increasing modestly. Not with huge jumps as in 2006 and before. I sold my condo this summer and had 3 offers within 3 days (including one which came the same day we put our place on the MLS). All at list or above. So I guess that qualifies as a bidding war. FYI you should check on the abatement, as some are phased out over time (although the details vary).
Posted on: 2012/9/10 21:23
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Re: 187 Warren
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Quite a regular
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It's funny that you posted this today. I was in the neighborhood yesterday for an open house in this very building. The line of prospective buyers (some with agents in tow) waiting to do the walkthrough was insane... The listing agent gave us his spiel, allowed us to look around for 10 minutes or so, and then tried to get us out the door to allow the next mark--er... "interested parties" to have a gander at his wares. The potential buyers were literally waiting outside in the hallway, while two or three groups were allowed in the unit at any given time (to avoid trampling/suffocation I assume). The area seemed nice and the unit itself was in good condition. As for your question, yes, the building is under tax abatement: 13 years remaining on the original 20 if I recall correctly.
This experience was HORRIFYING... Images of bidding wars flashed before my eyes and I wanted to throw up. I saw the realtors all giddy with excitement while exchanging notes with one another on the short elevator ride down (only 4 floors in the building). I guess I missed the market turning. Again... Or maybe it's because J.C. has notoriously low inventory. I think it may be time to start looking beyond J.C.
Posted on: 2012/9/10 21:13
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Re: 187 Warren
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Home away from home
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I visited liberty point - it's good. Some units have high ceilings. Just don't get a unit facing the light rail and you should be good. Central a/c is definitely a plus.
You're also in paulus hook, one of the best neighborhoods in jc.
Posted on: 2012/9/10 19:10
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187 Warren
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Not too shy to talk
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How is the building at 187 Warren st ? Appreciate any views on the building including its amenities. Have been told that it has central a/c which I think is a positive. Taxes are reasonable. Is it under tax abatement ?
Why is the average pricing lower than 126 Dudley ?
Posted on: 2012/9/10 18:15
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