A few weeks back, we told you about homes in Verona that had been listed for less than their assessed value. In that story, we looked at total assessed value, for both land and building. But there was a price cut on a Verona home this week that puts that house on the market for less than the assessed value of the dwelling alone.
The house is 226 Fairview Avenue, one of the mansions that K. Hovnanian Homes built into the hillside opposite Verona Pool just before the real estate market crashed. These home originally sold for about $1.2 million each. This past week, the price on 226 Fairview was cut by 15%–that’s $159,001 in dollar terms–to $899,999. But the house alone has been assessed at $942,800 and the total property at $1,177,300. The house has five bedrooms, four and a half baths, a huge finished basement and a three-car garage.
This week’s other price cuts are not nearly as significant, but they may be more in your budget. The asking price on 15 Otsego Road was dropped by $20,000 to $444,000. It has three bedrooms, three baths and was substantially remodeled in 2008.
Cheaper still is 27 Martin Road, which had its asking price dropped by $15,000 to $324,900. But this one, which has four bedrooms and just one bath, is being sold as-is.
There’s a clutch of open houses this weekend, but only one is a single-family home. 80 Morningside Road, a three-bed, two bath house tucked into the hillside, will be open from 2 to 4 p.m. today. The asking price is $409,900. If you need a condo instead, there are six condo open houses: 18 Green Acres Drive, 349 Bloomfield Avenue, 37 Wedgewood Drive, 421 Bloomfield Avenue, 365 Bloomfield Avenue, and 300 Claremont Avenue.
And finally, three new listings. 72 Derwent Avenue, which has 4 bedrooms and one bath, is on the market for $350,000. 35 Grove Avenue has the same number of bedrooms, but two full and two half baths as well. Its asking price is $464,500. 22 Cypress Avenue has four bedrooms, two baths and a remodeled open-plan layout. The asking price is $529,000.