Be warned, the current state of bank commissioned appraisals is little more than a scam. They used to start with your price and fudge everything to make it fit, but now in service to "honesty" they start with a "gut number" and fudge everything else to make the numbers fit. When I showed 2 bank appraisals to a real professional, he said they "had drool all over them".

Hi there - long time lurker but first time poster (I purchased a small condo in the Heights too and your post made curious to see if homes have appreciated).

I think I found the relevant listing, and in my honest (and also novice) opinion I think it could appraise at around $165k. I used Zillow to see what 1 bedrooms have sold for in the Heights in the past year. The sales prices range from $100k to $200k, a lot of them bunched in the $180ks. There were a $100k and $135k sale closer to the size of the unit you put an offer on (note: it's not clear if the unit was recently renovated). The $180k sales were all larger and some of them included parking and other amenities.

Hopefully the market has picked up steam, and the appraisal will come back in your favor.

Hey All! I made an offer on a condo and I went above asking because I really wanted it. I am sure the asking was way below the market value because it was a bidding war for it. I know it is rough guess but what do you think a one bedroom, 450 sq feet, open concept, remodeled kitchen and bathroom is worth?

It is 329 Palisades Ave., on the corner. Bus stop is right out front and easy access to downtown Hoboken and walkable to the PATH.

I am expecting bringing more money to closing, any thoughts on the property value? Thanks!