[AsburyPark] Re: Some Eye-Opening Numbers
> Are those actually closed & owned properties, or just a speculator > thinking he's still getting a zero down, interest only Alt-A mortgage? Spec who can afford to lose money each month or in a 1031 or one hoping for an increase in a flip at some point and can afford it. > I wonder what the remedy is if this guy can't close on his condo when > the rental agreement goes into effect? Could be fun trying to squeeze > him from the other side when the mortgage company surprises him with > a denial when he goes to close. I understand that some buyers are "trading up" at N. Beach. Got in whereever they could, others backed out, so they traded up. >From what it looks, like JJ says, they $ aren't there to close. It will be interesting to see how many are investor owned. Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote: > > > > > > > > In light of the budget deficit I wonder what the Esperanza (C- 8) > > > property is valued at for tax purposes. > > > > > > The sale is listed as over $17 Million. Shouldn't that be the new > > > valuation? > > Abatements. Goof thing, when a 1 bedroom will be paying $5k in taxes > year 1 and 2. WITH abatements. > > There are some very interesting rentals coming up at N. Beach. > NO MORTGAGE, NO TAXES. Just pay rent and utilities. Live on the ocean > on/off someone's else's money and investment and tax write offs - for > less then owning. > Are those actually closed & owned properties, or just a speculator thinking he's still getting a zero down, interest only Alt-A mortgage? I wonder what the remedy is if this guy can't close on his condo when the rental agreement goes into effect? Could be fun trying to squeeze him from the other side when the mortgage company surprises him with a denial when he goes to close. Anyone who is interested in egghead stuff, Pimco put out a research report last week. (Pimco is a real Wall Street firm, as opposed to a vulture investor who thinks they are an oceanfront developer). One of their portfolio managers sold his house last year, and he explains why he is continuing to rent as the housing market unwinds over the next 18 months and essentially destroys the economy. Here's the report: http://tinyurl.com/3acrow Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
> > > > In light of the budget deficit I wonder what the Esperanza (C-8) > > property is valued at for tax purposes. > > > > The sale is listed as over $17 Million. Shouldn't that be the new > > valuation? Abatements. Goof thing, when a 1 bedroom will be paying $5k in taxes year 1 and 2. WITH abatements. There are some very interesting rentals coming up at N. Beach. NO MORTGAGE, NO TAXES. Just pay rent and utilities. Live on the ocean on/off someone's else's money and investment and tax write offs - for less then owning. Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
--- In AsburyPark@yahoogroups.com, "wernerapnj" <[EMAIL PROTECTED]> wrote: > > In light of the budget deficit I wonder what the Esperanza (C-8) > property is valued at for tax purposes. > > The sale is listed as over $17 Million. Shouldn't that be the new > valuation? > > Werner > Look back at my posts from a couple of weeks ago when we were discussing this. I think it is $2.9M. Was something like $3.4M for land and improvements before with most in the steel. Now it's been shifted to the land, but still a very low ratio. 17% if I remeber correctly. Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote: > > > Thanks, dan. I guess I have to move out of the country now. You were not mentioned. > If reidy wants to pay me, I'll charge them for about 100 hours and > spend 1 hour calculating the values. Ha, ha. Too bad I can't work contingency. Just came back from a new Yankee Stadium deal. They offer $800K to put a footbridge over property. I balk. They over $2.2M. I balk some more and say let's cut to the just. You want a counter offer, we want $8M. Supposed to get back to use the end of the day. We'll take $4-$5M. I suspect their counter offer will be $3-$4M, but they need to have deal by Tuesday or we put them back a year. I should have said $10M. Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
In light of the budget deficit I wonder what the Esperanza (C-8) property is valued at for tax purposes. The sale is listed as over $17 Million. Shouldn't that be the new valuation? Werner Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
>> I had also pointed out to Reidy the > taxes on various commercial properties that Oak also posted a few weeks > ago. Reidy appeared to be shocked by the low taxes (relatively) on > these properties an was going to look into it. We'll see. Thanks, dan. I guess I have to move out of the country now. If reidy wants to pay me, I'll charge them for about 100 hours and spend 1 hour calculating the values. I miss consulting. Hey - if anyone wants to hire me part time, I need work. I'm way to honest for real estate. Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote: > > And you should all have your TAXES REDUCED like the partners did > from2006 to 2007: exmaple: 1200 Ocean Ave. .75 acres. Asses value from > $1,233,300 DOWN to 532,000. You may be aware that I had requested from the City the decrease in assessed values in the WRA by virtue of demolitions. I had heard that it was a decrease of $2M. I kept pressing the City for the info, and after 3 months, Reidy called me to discuss. He said that I would have to do the analysis myself and that they would make the materials available to me. He said what I asked is too time consumng for the assessor. I didn't want them to negate the decrease by market increases. I don;t think what I asked is so complex, and quite frankly, if I wanted to do it myself, I think I could simply use what's available on line. I don't think it would be that difficult for the assessor and it is something the city should already have a handle on. In fact, more importantly, Reidy said the analysis is complicated because the actual decrease is over $7M! He said that the assessments on waterfront properties that were tax-exempt under city ownership were unrealistic and too high. They were not changed when they were sold to Partners and subsequently they had to be lowered. That's the City's story. I assume he is referring to CH, Casino, et al. But come on, what about waterfront land as Oak points out? The land is under assessed, not over assessed. I had also pointed out to Reidy the taxes on various commercial properties that Oak also posted a few weeks ago. Reidy appeared to be shocked by the low taxes (relatively) on these properties an was going to look into it. We'll see. Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Some Eye-Opening Numbers
> The disparity in the numbers is shocking. > And you should all have your TAXES REDUCED like the partners did from2006 to 2007: exmaple: 1200 Ocean Ave. .75 acres. Asses value from $1,233,300 DOWN to 532,000. I didn't realize values along the water DROPPED that much. Elsewhere in Monmouth County, every little piece of land along the water - the values doubled for tax purposes. So when a 900 sq ft condo can go for $400k with ABATED taxes Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
