The Rumson House is Still Listed
As most readers of this blig know, I have been following the listing of this house in Rumson since last April. It has now been almost 8 months and the house is still there, unsold. Since about last April, the listing price has been reduced to from $940k to $749k. If you want to see where it is located, here is the link to google maps. Its at the corner of South Ward and Waterman. I drove by the house a few weeks ago and was not impressed. I thought that it might be on the water, but its not.
MLS ID#: 10038427
MLS ID#: 10038427
posted by Little_Silvered at 7:44 PM
6 Comments:
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Not only did I go to Google maps but I looked at the satellite view. That neighborhood is probably no more than 20 feet above sea level, tops.
While I have not driven through that neighborhood, I have driven down the simarly low-level Seven Bridges in LS during a late winter storm. Or attempted anyway before getting turned back because it was flooded out.
I'm guessing that the RUMSON house experiences similar briney encroachment on a rountine basis. In fact, the rock-garden front lawn is ample proof that the "waterview" described in the ad often applies to the driveway. Better keep that Beemer in a sealed garage or it will rust to pieces in short order. Sooner if the next nor'easter hits during a full moon.
So the buyer will need to factor in the cost of federal flood insurance and the extra maintenace required to maintain a house in a harsh coastal environment.
And that assumes that the little spit of land that it sits on doesn't itself slide into the river.
Mother Nature. D/N/T
anonymous
You are correct. My wife and I live nearby and I can vouch that most of that area is LESS than 20 feet above sea level. I fish a lot and the old timers who remember the hurricanes from the 40s 50s & 60s say we are due for a “nasty one” I have been told that in the past, that area has experienced significant flooding. I have seen a high water mark, from a hurricane in the sixties, in a repair shop in the Highlands that (if true) convinced me that this area can/will see significant flooding.
Some of the houses in the area sport grass lawns.
Here's another thought..
If the sellers couldn't move the house during the hot summer, I wonder what their expectations are during the cold, damp, dreary days of winter with the cold wind whipping off the Shrewsbury. Will the new year bring a new price reduction?
At the risk of earning a NoShitSherlock award, I think their best hope is to find a deep-pockets Wall Street guy who's looking for a summer home by the water but lives year-round in Short Hills (or NYC) or something.
Anonymous
COME ON you’re thinking way too much. Somebody’s going to buy it because it’s going to go up in value.
So Rumson has a "harsh coastal environment" ? Somebody needs to get out more! Anyway, take a look at the whole neighborhood. Many homes have been either knocked down and rebuilt or have been renovated. Many sell for $1mill++. Perhaps $749,000 is a good deal!!
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