John,
I think you made a smart decision - being a seasoned investor in the NJ market for over 12 years - I think AP is one of the best buy's in the Northeast.? One mile of beach one hour from NYC.? I owned in Jersey City, Montclair, South Orange and OG and wish I had the capital to put down in AP now.? The pledge of capital from Madison Marquis makes it a no-brainer.? Also, relative to new construction in Hoboken, JC and other areas of the tri-state region - you will do well (a family member of mine just bought a new construction condo in Hoboken for over 1.2million...). Good luck! Best regards, Bill -----Original Message----- From: nobepeymay <[EMAIL PROTECTED]> To: AsburyPark@yahoogroups.com Sent: Tue, 11 Sep 2007 10:32 pm Subject: [AsburyPark] Re: Fire Sales? I hope I am correct also.....only time will tell!! Since I decided to buy in AP I have tried to remain as optimistic as possible.....but understand there are challenges ahead and am trying to also be realistic. I am a newcomer and have not suffered through all of the false promises and delays that many of you have been subjected to. I remain hopeful because I see how engaged and passionate the people on this board and the people I have met in AP are about the AP community. We also have some serious people involved in the water front development now and what has already happened on Cookman is so cool and amazing to me. John --- In AsburyPark@yahoogroups.com, Allan Peterson <[EMAIL PROTECTED]> wrote: > > John I hope you are correct. There are so many ways things could play out and if anyone of us knew we would make a ton of $$$. As I said before I love the building plans and believe the marketing of a lifestyle canpaign is great. However people sign contracts and people drop out. The unit is not sold untill there is a closing. Money they are taking in now should not be used for marketing or construction. Funds should be in escrow or could be used if a bond is posted. There are ways out of a contract. This is why North Beach has a discount (I believe 10%) for completed invertory. I do not know if this market slump has hit bottom. While we have seen some positive signs this past two months we still are in a buyers market and we don't know if things have leveled off yet. > > > ----- Original Message ---- > From: nobepeymay <[EMAIL PROTECTED]> > To: AsburyPark@yahoogroups.com > Sent: Tuesday, September 11, 2007 7:29:45 PM > Subject: [AsburyPark] Re: Fire Sales? > > Understood.. ....thanks for the clarification. > > I do not agree on all points. In my opinion now that the market is > difficult, they need to spend more than ever to market the property. > They are also contracting units.....so the money they are spending > on marketing is paying off. > > As far as the point of having nothing to sell....once there is a > contract, buyers are contractually obligated to buy once their unit > is completed or they will lose their deposits. With the percentage > and profile of the buyers that are buying in the building I would > guess this is not going to be a problem. > > John > > --- In [EMAIL PROTECTED] ups.com, Allan Peterson <nnjallans1@ ...> > wrote: > > > > I do not claim to have specific information. I have said in > previous post that I don't believe one could advertise out of this > slump. While it is good for the town, and the other developers who > currently have product to sell, it make me worried. I did not > slander the company, state they were going bankrupt or were looking > to get out of Asbury. Simply said thier actions make me nervous > which is an opinion. Isn't this board for opinions? I do not > pretend to be a news reporter so I am hard pressed to see how this > is irresponsible. I wish them the best of luck and I love the > design and marketing of the project. Just some of the business > decisions make me wonder and the 2 projects they company is involved > in right now, are really big. > > > > > > ----- Original Message ---- > > From: nobepeymay <john@> > > To: [EMAIL PROTECTED] ups.com > > Sent: Tuesday, September 11, 2007 8:57:44 AM > > Subject: [AsburyPark] Re: Fire Sales? > > > > --- In [EMAIL PROTECTED] ups.com, Allan Peterson > <nnjallans1@ ...> > > wrote: > > > > > > I worry about metro > > > > Allan, > > > > I have seen this comment from you more than once. I think it is > > irresponsible to comment on a builder without having any fact to > > back up your statement. > > > > What specific information do you have that leads to be > so "worried" > > about Metro? > > > > John > > > > > > > > > > > ----- Original Message ---- > > > From: oakdorf <oakdorf@ > > > > To: [EMAIL PROTECTED] ups.com > > > Sent: Monday, September 10, 2007 11:36:29 AM > > > Subject: [AsburyPark] Re: Fire Sales? > > > > > > >>A beachfront condo in North Wildwood, N.J., had its $500,000 > > price > > > slashed by $106,000. > > > > > > (20%) > > > > > > And a $1.6 million estate in Morris County, N.J., > > > got lowered by nearly $100,000. > > > > > > (less then 1%) > > > > > > Hov taking advantage of the free negative PR. > > > > > > We've been talking 20% price drops for over 6 months now. > > > > > > Sales call at The Esperanza today... > > > > > > Time to clean off the crystal ball for the next read. > > > > > > Country Wide is the "lender" on next weeks auction by Sheldon > Good > > for > > > the 4th Ave condo convert. > > > > > > > > > > > > > > > > > > > > > > > ____________ _________ _________ _________ _________ _________ _ > > ____________ ___ > > > Be a better Heartthrob. Get better relationship answers from > > someone who knows. Yahoo! Answers - Check it out. > > > http://answers. yahoo.com/ dir/?link= list&sid= 396545433 > > > > > > > > > > > > > > > > > > ____________ _________ _________ _________ _________ _________ _ > ____________ ___ > > Take the Internet to Go: Yahoo!Go puts the Internet in your > pocket: mail, news, photos & more. > > http://mobile. yahoo.com/ go?refer= 1GNXIC > > > > > > > > __________________________________________________________ _______________ > Fussy? Opinionated? Impossible to please? Perfect. Join Yahoo!'s user panel and lay it on us. http://surveylink.yahoo.com/gmrs/yahoo_panel_invite.asp?a=7 > ________________________________________________________________________ Email and AIM finally together. You've gotta check out free AOL Mail! - http://mail.aol.com
