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Here's the Hottest Thing in Real Estate: Katie's Apartment

Tuesday, August 19, 2008

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Forget about buying, selling, inspections, mortgages. Here's what everybody wants these days: a sunny two-bedroom, apartment rental. When our very own Katie Mancine, who's leaving on her Wanderful trip cross-country in two weeks, put an ad in Craigslist, she got 94 responses and, after the first open house, 23 serious would-be renters.

Note to beige addicts with houses on the market: the overwhelming response has a lot to do with Katie and Mark's daring color choices. Apparently, nobody can resist a bright-orange living room.

When we moved into our apartment, it was empty for three months beforehand, I don't think our landlord could find anyone who wanted the plain white walls, ugly brown carpet and dirty unmopped tile floor. But post THIS link to some Flickr photos from our lives in the apartment, and we had more responses than we ever imagined. Each person who came to view the apartment wanted to know, "How will you pick?" And then it dawned on me: I would just take all the names and hold a lottery drawing to find our replacement. I gave the three minute apartment tour, let the people walk around, ask questions, look through all our drawers, closets, and even test out how strong the flush is on our toilet. Then I'd tell them "If this apartment is in your top three, sign this email list. We'll email you on Sunday, and ask if it's your number one choice (thus giving them a week to find others to compare it to), if it is, you'll be entered to win A YEAR LEASE IN AN ORANGE, PINK AND GREEN-ROOMED APARTMENT!"

Read the rest of the story, including a rundown of all the cute applicants, here.

Posted by Debbie Galant on August 19, 2008 11:19 AM
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The other factor could be the absurdly below market rental rate! For something so close to the train station especially.
I rent out some units in the same hood and find I can't leave a Craigslist posting up for more than a few hours unless I want 100 emails in my box.
At least the rental market is still strong.

Posted by Drob | August 19, 2008 1:38 PM
 

"I don't think our landlord could find anyone who wanted the plain white walls, ugly brown carpet and dirty unmopped tile floor."

Was it also 1996? It probably had more to do with the market than the un-hip color scheme. Now people will pay anything for a roof and running water in NJ.

Posted by lackawannariot | August 19, 2008 2:13 PM
 

That part of Forrest isn't the best spot. You are right on the train tracks. Easy walk to Egans and Depot though. $1080 is about right, unless the bedrooms are oversized; but by the ad it seams that it is more of a 1.5 bedroom. Nice Brick wall Katie, I think that would be a selling point for me

Posted by jimmytown | August 19, 2008 3:08 PM
 

No, I first rented the apartment in 2005 - it was only $950 a month back then.

It is a full 2 bedrooms, only problem is the one doesn't have a closet - but the bedroom without the closet is twice as big as the one with. The brick wall was what sold the apartment to me, but the long porch room is why I am sad to be leaving it.

Train tracks don't bother us one bit, they're across the street behind the other apartments. We have a 15 minute walk to Bloomfield Ave & Watchung Plaza, 5 minutes to Walnut St. I couldn't imagine living elsewhere in town. I am seriously having a hard time imagining myself not living here in two weeks :(

But I think the road trip will help ;)

 

Isn't the usual method the simplest? Whomever comes to you first wanting the apartment and bearing a check gets it. It's one thing if you are renting out your own home to someone, then maybe you want to interview them first.

Posted by RaeVen | August 19, 2008 3:54 PM
 

Of course it's the simplest, but it's also the lazy way to do things and not quite fair. We wanted to find good people to live here who really wanted it. It's not fair for those people who get off work at 6:30 and can never make it to an apartment viewing before someone else scoops it up.

 

That is almost $500 a month less than we are paying for our 2BR on N. Fullerton.

Going by the pictures, location, and fact that there's a porch(!); I'd say $1080 a month is a bargain regardless of the wall color.

Hmmm.... You don't still happen to be showing it do you? :-P

Posted by Generically named Mike | August 19, 2008 4:32 PM
 

Wow $1080/mo -- I think your walls could be green or orange and still rent - oh wait - they are - lol - really - and pet friendly too - heck where was this apt when we were looking - anything pet friendly was nothing less than $2K -- are you making the final decision or your landlord?

Posted by Expats | August 20, 2008 9:47 AM
 

Che Bella Casa!

Posted by Frankgg | August 20, 2008 9:58 AM
 

Yeah Jimmytown I think you're a bit off. 1080 for a two bedroom is about right -- in 1996 maybe. Katie you've got quite a steal there.
Totally great neighborhood too.

Posted by Drob | August 20, 2008 10:55 AM
 
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