The Rumson House is for Rent and for Sale
That house in Rumson that we have been following for over a year now and which has had multiple asking price drops is now for rent and for sale. I’m starting to see a number of houses in the area that are both for sale and for rent, which is a clear indication how slow the real estate market currently is.
posted by Little_Silvered at 6:58 PM
5 Comments:
http://biz.yahoo.com/ap/060626/economy.html?.v=11
In the long run Rumson and similar areas will hold value. The market may be slow, and get slower, but there will be no collapse in value in places like Rumson. The overpriced homes will come back to earth, but you'll never get a nice 3 bed 2 bath on a nice street in Rumson for less than $500- $550k. Still that is a good bit less than the $600-$750k being asked for this type of property today. The fall will see buyers back in the market as they realize that asking prices will only fall so much.
in rumson in 1992 you could buy any number of spec houses from the bank at 2-300k after they had gone into foreclosure. and they were 4-5 bedrooms 4000sqft +.
TO njcoast ,that just proves the point ....In Rumson people won't reduce prices ,with only 3 contracts that tells me prices arn't being reduced ,and buyers aren;t stepping up...so NO home sales ...which is in the winner and which is the loser ?....you tell me how the seller is the loser when he 's still living in his own house
"you tell me how the seller is the loser when he 's still living in his own house"
I think we can call the subject Rumson House owner "loser."
Take a look at the photos. That house isn't occupied. Hasn't been for a while. Think of all the thousands spent each month on PITI, maintenance, etc. out the blowhole.
Post a Comment
<< Home