 Kannekt Forum Index Maxwell Place Condo  1025 Maxwell - $1000 per square foot - Overpriced or Fair?
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #11 |
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Anonymous
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Sorry, but I have to agree with him here. The Maxwell community will not be matched by any other area of NJ Gold Coast. If you know of an area with more promise, please share it with us.
-Non-owner, non-affiliated with Maxwell |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #12 |
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Anonymous
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I love the speculation on this board. Its going up, its going down. None of you know as there are endless factors many of which can't be known. With oil prices where they are, costs of goods and building will rise thus the intrinsic value of ALL building structures will rise. Oil can easilly get to $100, then what is Maxwell worth? NOBODY KNOWS!!! END THIS NONSENSE AND GET BACK WHAT IT IS WORTH TODAY.
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #13 |
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Anonymous
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#12 First useful comment.
Cost of building is going to rise drastically, which is going to prohibit new construction. Hence lower supply. Alternative is that new construction continues but with the required mark-up due to increased materials costs. I've seen this coming for a while now. There is a reason why new construction in JC and Hoboken isn't offering discounts - they simply can't afford to, especially when you factor in the land costs that have skyrocketed in this area. For those waiting the market out - do not expect to get a new construction at disount pricing. Builders simply cannot afford to offer it. At this point it's not a matter of greed but about passing on costs to buyers. That being said, if you do want to try to find some bargain, try looking at some of the older buildings - you might find your options are better. But for those who are in love with new construction...sorry. |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #14 |
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Anonymous
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point is, if demand drops and supply continues to increase, prices WILL drop.. why do you find it so difficult to understand.
no one id refuting that maxwell is the best property available, but it doesn't mean it is immune to price declines. |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #15 |
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Anonymous
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I think that the Constitution is a pretty good comp for Maxwell and its pretty clear that prices are off their 2005 highs over there. Although there has been only one apparent trade of a 2 bedroom over there in the past 6 months, it was for below $700k. In October, a unit on the same floor sold for $800K+ with the same crappy view of rite aid.
You can see that the current market has no direction or support from the sharp diffenrce in prices for very similar condos. Also, the one condo for sale with a direct view had its price reduced from $1.2 mill to $1.15 mill. This condo looks pretty crappy from the pictures. |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #16 |
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Anonymous
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Quote:
Not very familiar with builder cycles, are you ? Practically every real estate boom and burst was accompanied by huge overbuilding by builders. Raw land costs money, even built up houses cost money. Carrying that cost is a huge strain for builders, so they most definitely do sell new construction at discount prices when a real estate market turns sour. |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #17 |
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Anonymous
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Quote:
point is, if demand drops and supply continues to increase, prices WILL drop.. why do you find it so difficult to understand. My point is that the prime view units are in limited supply, and there will always be demand for those waterfront units as long as the local economy remains strong. If Wall Street has another strong year, I think that bodes well for these prime units. Regarding demand dropping, I think it depends on the unit. |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #18 |
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Anonymous
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Quote:
Agreed. If you pull the finacials of public companies like toll brothers, you wiil sart to see a trend of increaseed inventory........however, they will not openly sell at a discount if they can help it.......they would rather selll to private investment groups that agree to rapid closings to reduce carring costs.......the public never sees these transactions....theyll sell to public but their first move will be to up the amount of upgrades.offered..this allows more value to public while keeping prices up........... |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #19 |
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Anonymous
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Quote:
You point is flawed. There will always be more demand for prime view units than non-prime view, and prime view units will sell for a premium RELATIVE to non-prime view units, however BOTH can and will decline in price. Anyone who believes otherwise is naive. |
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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair? | #20 |
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Anonymous
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We will soon enough see.
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