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Re: 74 palisade ave
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Not too shy to talk
 
Joined:
2015/10/26 23:53 Last Login : 2018/5/27 10:36 From jersey city
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I'm look at both of these units and one is listed as a 1br and the other a 2br. Which one do you think is more accurate?
Posted on: 2016/3/19 11:21
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Re: 74 palisade ave
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Home away from home
 
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In that case, the taxes are remarkably close to their correct amount, a rarity in JC. In fact, if the unit is actually worth closer to 175K (using the other one as a comparison, and taking into account that the 150K price tag is likely artificially low due to the short sale situation) then the taxes are a bit low.
Posted on: 2016/3/11 20:04
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Re: 74 palisade ave
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Home away from home
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That might have been one of the 1st conversion's to Condo's in JC. I saw that place 30 yrs ago and it was a dump, and someone who owned one there says it still is.
Posted on: 2016/3/11 19:34
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Re: 74 palisade ave
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Home away from home
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There are 2 apartments on the market right now, both similar size and layout - the short-sale is asking $150,000. The other unit, which needs work but which doesn't (appear to) need 3rd party approval is asking $175,000.
Posted on: 2016/3/11 18:30
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Re: 74 palisade ave
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Home away from home
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You can appeal your taxes and get them reduced if they're too high.
Nice calculator here. If taxes are +15% or more of that rough calc you may have grounds for an appeal - though the appeal needed to based on a comparable sales valuation, not purchase price. Appeal process here. https://secure.njappealonline.com/prod ... _InstructionsHandbook.pdf
Posted on: 2016/3/10 20:12
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Re: 74 palisade ave
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Home away from home
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What's the asking price for the unit? Taxes of $3,160 would indicate a valuation of around 150K. If below that, then taxes are indeed high. If higher, then the taxes are low.
Posted on: 2016/3/10 19:22
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Re: 74 palisade ave
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Home away from home
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I recently went to see a unit that's on the market. A 2-br railroad flat which has been recently renovated, it looks nice but not high end finishes. It would be good for someone who is a decorator but has limited DIY sills. It's a short sale, so I'm staying away. My impression of the building - older, walk-up, the only amenity is the shared patio which would be nice for small group gatherings but needs better upkeep. The halls are clean with normal wear and tear, but also could use some freshening up cosmetically.
There are only 9 units, and I didn't get any information on the financials. According to the county website, only 1 unit is owned by the sponsor, and no-one owns more than one unit so it would seem eligible for FHA qualified financing. The taxes seemed a little high for the size ($3,160/year for under 800 s.f., and for an older (late 1980's) conversion, but I wouldn't rule it out for that. I walked to JSQ in just over 15 minutes.
Posted on: 2016/3/10 18:58
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74 palisade ave
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Not too shy to talk
Joined:
2015/10/26 23:53 Last Login : 2018/5/27 10:36 From jersey city
Group:
Registered Users
Posts:
22
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I have seen a few units on the market at this address. Anybody with any insight?
Posted on: 2016/3/9 10:44
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