Rumson House Back on Market - 2 Years After Original Listing
An alert reader brings to our attention a house in Rumson that is back on the market. Way back in '05 we highlighted this house as an example of how delusional some home sellers had become about how much they thought their homes were worth. Two years after originally putting the house on the market, the owners are still looking for a buyer. (I think the home might have been rented out for awhile in the interim.)
"Hey our favorite Rumson house that we have been following is back on the MLS. Original list price in April 2005-$939,000. Current list price-$679,000."
"Hey our favorite Rumson house that we have been following is back on the MLS. Original list price in April 2005-$939,000. Current list price-$679,000."
posted by Little_Silvered at 6:12 PM
33 Comments:
And speaking of over-priced houses, I seem to recall you pointing out some POS in LS last year.
I don't recall perfectly, but this listing reminds me of it. Could it be the same one?
http://www.realtor.com/Prop/1077590903
Oh and about the RUMSON HOUSE, for how long will the owner chase the market down?
Maybe Sally will buy it. We just have to convince her that SUZANNE RESEARCHED IT.
http://www.youtube.com/watch?v=Ubsd-tWYmZw
wow. that's so sad. you know, it's a bit hot for me but some parts of texas are so beautiful. you see, they put those (to me) ugly mcmansions on this beautiful land. no planning! i'm not saying don't build on the land but plan better. now you have ugly burned down or empty mcmansions instead of beautiful land. right, it's all about greed i guess. like what the guy said at the end, they are paying outrageous taxes for what? home prices that are falling. at least that subprime craziness seems to be over now.
Holy cow what an ugly house. Proportions, shape and massing are all wrong. The detailing looks like tacked on specials from a Home Depot or Lowe's. The most comic or tragic, not sure which, is how much they want for this house.
Not only is it ugly, not only is it a Home Depot Special, but it sits in a salt water flood zone.
I saw something similar in Shrewsbury. Except it was a REALLY nice house. From the outside it appeared to be a well appointed CE colonial with lots of space. I would almost say it justified its $640K asking price. There's one fatal flaw: a train (NJ Coast line) practically runs through the back yard. I wonder if the china rattles per the timetable.
Dunno about you but that's a negative to me.
Moral of the story: location x 3. You can improve your place to a palace. But if it's out of step with the surroundings, you may as well paper the walls with Franklins.
there are good and bad things about gentrification. the problem is, it seems to me is that with all of the greed and the denial that all markets are not static in our economic system, the rush to profit at all costs creates really absurd situations. and unfortunately a few people make out and a lot don't.
well, the Texas tract looks alot like some of Z's tracts here. You should have seen some of the homes KH's crews did one after the other. I'm surprised they haven't been burned down too.
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There isn’t one day that passes that you don’t see bad financial news in the newspaper or on the television or radio. Well that’s all going to change now, especially if you live in the New Jersey Shore towns of Avon, Belmar, Spring Lake, Sea Girt, Manasquan, Point Pleasant, Bay Head, Mantoloking, Normandy Beach, Chadwick, Lavalette, Ortley Beach, or Seaside Park. According to Paul R Hauke, a Realtor Associate with Prudential Zack Shore Properties with 11 offices along the Jersey Shore, a specialist in Ocean Front, Waterfront and Resort Properties along the New Jersey Shore prices are holding steady and in many areas increasing. The reason is that people are buying along the Jersey Shore and the demand is strong. For instance many buyers who have large amounts of cash sitting in bank accounts that are earning very, very low interest have been buying Jersey Shore Resort Homes for cash. They are figuring on getting the rental money and the appreciation on the property. They figure the return will absolutely beat whatever they are earning in the bank and they also have the use of the property when not rented. Smart buyers.
On the other hand are the sellers. Sellers in such great Jersey Shore towns are reaping the benefits. There prices have been holding and they are reaping the gains. There are properties from the mid $200,000.00 range up to multi millions. Along the price range there are new and converted condos and new and completely renovated houses and of course one of a kind mansions and estates.
On the waterfront at the Jersey Shore prices are still climbing. Paul R Hauke, a Realtor Associate with Pruzack, studies and tracks the real estate values along the Jersey Shore and has found that Waterfront properties prices have been escalating. Properties with docks for boats and easy access to the Bays and Ocean are still high on demand. Small homes in such areas as Ocean Beach , with docks , can still be had for $300,000.00 to $400,000.00 with a moderately priced waterfront home with deep water docks and easy fishing access still bringing $1,000,000.00 plus. In towns like Point Pleasant Boro. Ocean front homes, both on the beach and across the street from the beaches, in such towns as Spring Lake, Sea Girt, Bay Head, and Mantoloking bring three, four and five million.
Many Jersey Shore Real Estate buyers are looking for second homes now that they can make year round homes later. Such houses between $900,000.00 and $2,000,000.00 have seen a 25 % increase in pricing. Some Jersey Shore Realtors have reported their sales up as much as 26% over last year.
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Hey.. thats great news.
Boise real estate
Congratulations , Rumson house is back.It good to hear after a long time its back in market.
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Great post, very interesting concept. You make a good point that all the factors need to come into play. Selecting a good property agent is most important for property management who helps you throughout the buying process and beyond to completion.
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Nicely said. I like your way of writing. Will certainly visit your site more often now.
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Beautiful house indeed.
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I knew that this will going to happen. I know that they can back on track. I can't wait to see what is going to happen next.
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I think that is a great home to have. Wish I could afford the price.
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Great house! Haven't seen this housing architecture ever before. Looks like a bungalow. :)
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Nice place!! I really love it… Thanks for sharing this informative article!! .. More powers to your blog..
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I think that is a great house for me. Love the door design too!
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