GhostOfRobertTreat t1_j51jhuh wrote
Reply to comment by Ironboundian in Opera Singer's Newark Home Hits Market At $699K by madsheb
And it won’t be worth $1 million. The highest a single-family has sold for, all finished inside and ready to move in, was $832k last year. With interest rates where they are now, it’ll be a while before any of the corner mansions break that.
Professional_Heat_73 t1_j51oaet wrote
So I’m wondering if the ppl buying these homes over $800k are paying cash, and if they’re immune to rising rates. The house on the corner of Ballentine and Lake St just sold for $800k and is in way better shape than the house that sold for $820k on the corner of Delavan and Parker. I don’t have the answer here, but I could see a contractor paying $500-600k for this one and remodeling it.
Look at the brown house on Elwood, it sold at the start of Covid for $350k (total remodel needed); it sat for a year or so and was sold for $600k with no work being completed on it. Interesting to watch!
Ironboundian t1_j5209pz wrote
look at those outlets IN SIDE OF the beautiful decorative molding near the floor in all of the rooms. A dead giveaway that the electrical is original knob and tube and needs to be totally gutted.
OpportunityPlayful70 t1_j5mybrn wrote
Although I think you’re right, its possible that it could be BX; I’ve seen both installed in baseboards
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