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Re: FSBO 1Bd @ GullsCove South Facing
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So what's the update? Have you sold your place yet? Who's advice did you take, what marketing efforts did you pursue?

Posted on: 4/10 22:05
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Re: FSBO 1Bd @ GullsCove South Facing
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Quote:

brewster wrote:
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JC_Man wrote:
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135jc wrote:
Or use a knowledgeable local Realtor.


No such thing.


Even I'll say that's not true, they're just rare birds in overheated markets where anyone with a pulse and time on their hands goes and gets their realtor license. The good ones get diluted to the point of obscurity.

That said, in a hot market a brokers job is 90% done when they secure your listing. At that point the only way they can lose their 3% is by overpricing your home. And if they steer their buyers there, 6%.


Sadly, this is SO very true. I have met a good amount of real estate agents that are total nincompoops with barely functional brains or any smarts. I met this guy once working in Manhattan luxury real estate and he explained how almost every sale he had completed required almost zero effort on his part, as the parties often did their work and only needed him to show them the place (which often involved nothing more than opening the door to the place and letting them roam around) and he was making a killing doing that. As long as you can speak and dress well, and are able to make a decent impression on the buyer (or, seller) the job requires little effort or skills.

Posted on: 3/31 14:32
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Re: FSBO 1Bd @ GullsCove South Facing
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Quote:

JC_Man wrote:
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135jc wrote:
Or use a knowledgeable local Realtor.


No such thing.


Even I'll say that's not true, they're just rare birds in overheated markets where anyone with a pulse and time on their hands goes and gets their realtor license. The good ones get diluted to the point of obscurity.

That said, in a hot market a brokers job is 90% done when they secure your listing. At that point the only way they can lose their 3% is by overpricing your home. And if they steer their buyers there, 6%.

Posted on: 3/31 14:05
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Re: FSBO 1Bd @ GullsCove South Facing
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This one is also available

https://www.zillow.com/homedetails/201 ... NJ-07302/2094918179_zpid/

Higher floor and terrace but it is a little smaller and west facing.

Posted on: 3/31 11:56
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Re: FSBO 1Bd @ GullsCove South Facing
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You sound like you work for the sales office! Just to present another side to this, there's a new building in Southwest hoboken that's going for $720 per sq ft including parking. It's a 10 min walk from the Path. Yes it's in a flood zone and the area is still developing. But comparably, it'll have a higher appreciation rate than GC.

Posted on: 3/31 11:36
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Re: FSBO 1Bd @ GullsCove South Facing
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Considering what BPC and TriBeCa are trading at (north of 2K/sq ft) as well as LIC and the nicer parts of Bk (both north of 1K/sq ft), this is a bargain. Remember this newish building is close to a major airport, atop a light rail station, walking distance to the path, 10 mins from Fidi, and near 2 ferry stops. Crowning detail? This bldg is zoned for PS16, which now rates a 9/10 on greatschools. That makes it comparable to a decent suburban school, and provides a floor on pricing. Doesn't get much better. Oh and the building suffered no harm during sandy.

Posted on: 3/31 7:19
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Re: FSBO 1Bd @ GullsCove South Facing
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135jc wrote:
Or use a knowledgeable local Realtor.


No such thing.

Posted on: 3/30 23:40
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Re: FSBO 1Bd @ GullsCove South Facing
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Places like Long Island City are around $1300 /sqft... parts of Brooklyn even higher... so JC is considered cheap still by people from BK/NYC/LIC

Posted on: 3/30 23:26
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Re: FSBO 1Bd @ GullsCove South Facing
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We all thought that in 2007 as well.

Posted on: 3/30 21:56
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Re: FSBO 1Bd @ GullsCove South Facing
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I'm looking at Gulls Cove 2 and the prices are $970/ sqft when you factor in parking. This really is crazy! I'm having a hard time justifying the price for purchase. I can't imagine the price for Gulls Cove 2 to appreciate much higher than this though. Is the value at its max? Thoughts anyone?

Posted on: 3/30 21:34
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Re: FSBO 1Bd @ GullsCove South Facing
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Thanks for the inputs! I changed the view photo. Having an open house today 3-7pm and then on the weekend again , plenty of interest already which is great!

Posted on: 3/30 12:51
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Re: FSBO 1Bd @ GullsCove South Facing
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Quote:

gullscove1018 wrote:
Thats the comps actually ... the last unit in my line just sold for $680K without parking... Prices have gone up... Phase 2 is over $950 a sq/ft (was raised over the weekend) -- and thats for a North Facing Unit... so my South Facing unit @ $869/sqft is a bargain. I have done my research :)


If you are talking about your line (18), the one on 11th floor (1118) went for $655K (or ~$840 psf) last month, and it included parking. Your listing price looks like a good place to start with, and see the best that you can get from there. Your floor should anyways be above $640K (based on Nov'16 sale, 780 sq ft, 917, no parking)

Posted on: 3/29 23:52
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Re: FSBO 1Bd @ GullsCove South Facing
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Holy cow! I read the comments below on $869 psf aint crazy. And I am not even mad. If this goes through that means ~ 20% appreciation in not even one year! May the force be with you.

On pictures, I found that increasing the brightness and exposure usually make them look like much more professional and better-looking pictures. Happy clicking!

Posted on: 3/29 23:15
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Re: FSBO 1Bd @ GullsCove South Facing
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With the dearth of inventory, i think you shouldn't have a problem selling this unit.

Posted on: 3/29 17:26
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Re: FSBO 1Bd @ GullsCove South Facing
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Agree with many of the points already made. Pay particular attention to the suggestion to improve the pictures in the listing. And, perhaps even consider hiring someone to help stage the apartment for maximum looks and ambiance. The place looks very clean, and organized. But, it lacks coziness (based on the pictures) and that could help with getting even higher offers/bids.

Posted on: 3/29 16:30
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Re: FSBO 1Bd @ GullsCove South Facing
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Cooperating with buyer's agents is a great idea, since many already have buyers they are working with.

Regarding open houses, the best one is the first one because the listing is fresh. After that tends to be lookie-loo's and curious people within your building. Agents like to do multiple open houses because it's a great way to meet buyer clients. And perhaps make sure the people that are interested are pre-approved with a lender that has experience in your building.

It's a beauty contest out there. Most interested people are probably looking at multiple properties in an outing, so make sure yours shows great and stands out in the crowd. Good luck!

Posted on: 3/29 16:13
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Re: FSBO 1Bd @ GullsCove South Facing
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jcguy05 wrote:

The idea is you sell it with about 3-5 years of tax abatement left to pass the unit to the next clueless person - game of musical chairs. Because when the abatement expires, you can expect at least a 30% tax hike.


Not exactly - the abatement resets to the sale price. So, while this condo initially sold for somewhere in the $425k range with a PILOT of around $7k, if it sells at the ask the PILOT will go to north of $11k.

Posted on: 3/29 15:58
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Re: FSBO 1Bd @ GullsCove South Facing
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PeteJC wrote:
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jcguy05 wrote:
Quote:

gullscove1018 wrote:
Thats the comps actually ... the last unit in my line just sold for $680K without parking... Prices have gone up... Phase 2 is over $950 a sq/ft (was raised over the weekend) -- and thats for a North Facing Unit... so my South Facing unit @ $869/sqft is a bargain. I have done my research :)


yeah that's the going price, you should be able to sell it without much difficulty.

i sold my 1br in portofino in 2015 for 570k at full asking in 1 week thinking i made out like a bandit, little did i know i lost 100k by not waiting another year.

the prices are really crazy, during the absolute height of the bubble - where loans are being issued to anyone including their pets, the same 1br was going for 460k and 2br2ba was 550k in my building. Now we are at 50% higher than the high of the 06 bubble.

just mind boggling



Especially with the reval looming. Who is spending this $ on these places and what is the logic behind it? If you just do a P/E analysis you can see how bubbilicious it is. $700K for a 1 bedroom in JC w/no parking, a huge tax bill, and a decent maintenance fee?!

Or is there a significant tax abatement on the Gulls Cove properties??



majority of the highrise condos have tax abatement in place, although you still pay a lot of taxes - it isnt a true tax abatement like in ny where you pay like $100 tax a year for 10 years. But the abatement nonetheless shields you from significant tax hikes and keep it stable.

The idea is you sell it with about 3-5 years of tax abatement left to pass the unit to the next clueless person - game of musical chairs. Because when the abatement expires, you can expect at least a 30% tax hike.

The reval is really against the brownstones and non-highrises who are paying 5k taxes a year right now, especially those units that were renovated and sold for 1mil+. It will end in tears for those owners, unless they are rich enough they dont care - but then why would you be in jc instead of nyc

Posted on: 3/29 14:54
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Re: FSBO 1Bd @ GullsCove South Facing
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Quote:

jcguy05 wrote:
Quote:

gullscove1018 wrote:
Thats the comps actually ... the last unit in my line just sold for $680K without parking... Prices have gone up... Phase 2 is over $950 a sq/ft (was raised over the weekend) -- and thats for a North Facing Unit... so my South Facing unit @ $869/sqft is a bargain. I have done my research :)


yeah that's the going price, you should be able to sell it without much difficulty.

i sold my 1br in portofino in 2015 for 570k at full asking in 1 week thinking i made out like a bandit, little did i know i lost 100k by not waiting another year.

the prices are really crazy, during the absolute height of the bubble - where loans are being issued to anyone including their pets, the same 1br was going for 460k and 2br2ba was 550k in my building. Now we are at 50% higher than the high of the 06 bubble.

just mind boggling



Especially with the reval looming. Who is spending this $ on these places and what is the logic behind it? If you just do a P/E analysis you can see how bubbilicious it is. $700K for a 1 bedroom in JC w/no parking, a huge tax bill, and a decent maintenance fee?!

Or is there a significant tax abatement on the Gulls Cove properties??

Posted on: 3/29 14:31
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Re: FSBO 1Bd @ GullsCove South Facing
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Quote:

gullscove1018 wrote:
Thats the comps actually ... the last unit in my line just sold for $680K without parking... Prices have gone up... Phase 2 is over $950 a sq/ft (was raised over the weekend) -- and thats for a North Facing Unit... so my South Facing unit @ $869/sqft is a bargain. I have done my research :)


yeah that's the going price, you should be able to sell it without much difficulty.

i sold my 1br in portofino in 2015 for 570k at full asking in 1 week thinking i made out like a bandit, little did i know i lost 100k by not waiting another year.

the prices are really crazy, during the absolute height of the bubble - where loans are being issued to anyone including their pets, the same 1br was going for 460k and 2br2ba was 550k in my building. Now we are at 50% higher than the high of the 06 bubble.

just mind boggling


Posted on: 3/29 14:13
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Re: FSBO 1Bd @ GullsCove South Facing
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Two GC Phase 1 units sold at over $900 per sf in the fall - you're price is definitely in line with the market.

Free bit of unsolicited advice - spend a little $ on a professional real estate photographer. You'll recoup it and a lot more in your selling price. Your pictures aren't bad, but things like the window glare, the kind of dark feel and little details like the robe on the back of the bathroom door will be resolved. At a minimum, retake your exterior shot on a sunny day. We just listed our unit and the sunny harbor in our listing looks 1,000x better.

Posted on: 3/29 13:04
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Re: FSBO 1Bd @ GullsCove South Facing
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Open houses are a pain but they drive foot traffic into the unit, which is much more effective then photos on a website. I would do a few of them, and put up flyers all over the neighborhood on the day before and morning of the open house. Make sure it's a warm, sunny day :)

Sites like FSBO.com can get you advice, materials and MLS listings.

Make sure you have a real estate attorney already lined up to draw up contracts, review offers, etc.

Posted on: 3/29 11:33
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Re: FSBO 1Bd @ GullsCove South Facing
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Sounds like a good asking price. Hope you get it!

Posted on: 3/29 11:02
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Re: FSBO 1Bd @ GullsCove South Facing
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Thats the comps actually ... the last unit in my line just sold for $680K without parking... Prices have gone up... Phase 2 is over $950 a sq/ft (was raised over the weekend) -- and thats for a North Facing Unit... so my South Facing unit @ $869/sqft is a bargain. I have done my research :)

Posted on: 3/28 21:29
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Re: FSBO 1Bd @ GullsCove South Facing
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I'll be frank. $869 psf is crazy. Yes, even at these times. More so when even the parking is not included. Moreover, when it is a 1bd.

If you are doing a FSBO, just look at the comparables on 1 bd and list at the highest range, to start with. You do not want a listing stay open for a long time and make potential buyers wonder what's the deal here. Else use an experienced realtor or Redfin (if you want to save some cost)




Posted on: 3/28 21:20
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Re: FSBO 1Bd @ GullsCove South Facing
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Or use a knowledgeable local Realtor.

Posted on: 3/28 16:22
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Re: FSBO 1Bd @ GullsCove South Facing
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You could always try doing a flat fee MLS listing. If you go to mls2u.com (Continental Real Estate) you can list for a flat fee of $200.00, you retain the right to sell by owner while also being able to offer a small commission to a cooperating broker.

Once you pay the flat fee, your property will get picked up by all of the major real estate website feeds.

Posted on: 3/28 16:12
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Re: FSBO 1Bd @ GullsCove South Facing
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Post flyers around the neighborhood?

Also, all the parks have bulletin boards - post a flyer there too.

Do you plan on doing open house by yourself on weekends? Perhaps that would be useful too?

Good luck!

Posted on: 3/28 15:42
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FSBO 1Bd @ GullsCove South Facing
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Selling my apartment by owner, 1 bd , wanted to see if anyone has any recommendations for how to promote it besides zillow etc?

https://www.zillow.com/homes/fsbo/1086 ... elevanceex_sort/40.764616,-73.959103,40.665209,-74.126816_rect/12_zm/?view=public

Posted on: 3/28 12:40
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