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FOR SALE: Hopatcong's Cheapest Home?

Two bedrooms. One bathroom. Cost ...

Can you afford Hopatcong's cheapest home?

This two-bedroom, one-bathroom abode at 34 Stevens Trail, which has been on the market for more than two years, includes vinyl siding and asphalt roofing. And a glance at its photos on AOL Real Estate shows the front doesn't seem to need much TLC and it even comes with a tiki bar.

But it'll run you $35,000.

What do you think of it? Tell us in the comments and take our poll.

Chrissy November 04, 2011 at 08:09 PM
They should roll back those taxes to 2006... that sounds good to me!
StillWatching November 04, 2011 at 11:07 PM
Not always. We are in a really bad housing market. I know people with houses that need minimal to no TLC, and have been on the market close to 2 years or possibly longer. It's just some people are in the boonies where no one wants to live and a lot of people are not willing to take the outrageously LOW offers these buyers are coming in with. It's a buyers market but some buyers are making unbelievably low offers for what their bidding on. It's a slap in the face to home owners.
Michele Guttenberger November 05, 2011 at 05:26 PM
Taxes are an issue for investing in any real estate. Real estate is an investment that carries an expense - property taxes. Hopatcong is a high tax area. We pay more and get less which gives us the lower tax number than our neighboring towns. We have less services to be taxed but what services we do have we pay a premium for. So it is a fallacy that Hopatcong has low taxes. May have been a true statement 8 years ago but not today. Why invest in investment property in a town that has limited services and has shown it can't control its taxes. This would be a good reason why investors do not invest in property in Hopatcong - the recent history of escalating property taxes despite the Town's budget voting record. If you can not rent this property from the get go you are stuck with the taxes on this income property you are not making an income from. You can't escape death or taxes and a non rentable home is a money pit of taxes.
Emily December 25, 2011 at 04:53 PM
Thanks for the heads up on a short sale. Alot of people believe this is an easy way out.Not so. If a bank is involved they are in it to make money. So many different angles in buying and selling a home these days. They really make it very difficult for people to follow that so called american dream, which so quickley turns into a nighmare. Thanks again Mr. Lundin for your expertise.
Roll Back Our Tax December 25, 2011 at 05:08 PM
Plus I am sure there are back taxes owed on this property. Having experience in sheriff sales, if you can't get the municipality to release on those back taxes and if the bank hasn't kept up with paying on them...there are probably tax liens as well as other liens on this property. Not worth it! The borough doesn't like to negotiate anyways.

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