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Re: 2017 Reval ~ Property Inspections
#1
Home away from home
Home away from home


Disagree on private schools. There is a whole culture to being a part of the A tier private schools - Dalton, Trinity, Brearley, etc. For those in that world price is not the consideration, the snob factor and community with other richie parents are. The JC area and Hoboken private schools aren't in the same universe. Sure they are perfectly decent and send kids to Ivies. I don't think too many people are making moving decisions around Stevens or St. Peters.

Posted on: Yesterday 9:26
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Re: 2017 Reval ~ Property Inspections
#2
Home away from home
Home away from home


Not many private school options in this area and none of them compare well to NYC or BK private schools. JC is still only an option for the bargain hunters/adventurers. Snobs will be in NYC or BK.

JC will always be a second derivative of NYC. So vacuum analysis is correct. I still think the all in costs post tax changes will be an anchor for DTJC...


Posted on: 2017/12/15 17:02
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Re: 2017 Reval ~ Property Inspections
#3
Home away from home
Home away from home


Dolmoti is spot on. Tight inventory and high demand will soften the blow to DTJC RE in the short term. Longer term it's tough to say. 1.6% is less than I was expecting so frankly it could have been worse for DTJC.

The real issue is will DTJC buyers pay suburb level taxes for lousy city services (iffy schools). Trump's tax plan ain't making the case any easier. Taxes are sunk costs, owners aren't building equity with those payments.

My take is DTJC is overvalued as are stock markets and RE in general. I think if the other bubbles deflate DTJC will take it a bit harder than average. As always tough to know when or if other bubbles pop...

Posted on: 2017/12/15 9:45
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Re: Symes / Solomon runoff
#4
Home away from home
Home away from home


seems ward E is not drinking the Fulop Kool Aid as much nowadays...

Posted on: 2017/12/6 10:00
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Re: New Equalized Valuations Out, JC at $28.4 billion
#5
Home away from home
Home away from home


Mid 2000s you could buy a nice DTJC rowhouse for $1mm give or take a couple hundred K and pay around 12-13 in property taxes. Now that same place is 1.75+ and taxes are going to be over $30K. Suburb level taxes.

I think the key question for DTJC is will people pay the higher asset prices AND suburb level taxes. My guess is prices have to come down to reflect the new tax realities. Time will tell...

Posted on: 10/6 9:08
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helicopters near VVP
#6
Home away from home
Home away from home


anyone know what is going on? Several news choppers hovering for half hour now....

Posted on: 9/14 17:09
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Re: Bed in a box recommendations ?
#7
Home away from home
Home away from home


I am very dubious of those bed in a box mattresses. We did a ton of research back in 2013 and found this company in Fanwood that manufactures the old school way. Well built and comfortable 4 years in with our mattress.

https://www.yelp.com/biz/shovlin-mattress-factory-fanwood

They are a family owned company and don't do promotions. Very knowledgeable group...

Posted on: 9/9 9:17
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Re: NYTimes: Jersey City new rentals so small - they call it co-living
#8
Home away from home
Home away from home


no wonder Millenials are broke if they're paying anywhere near the asking prices for those places.

Co-living is fine as a student and a for awhile when you are establishing a career, but the negatives outweigh the positives past a certain point in life.

Will be interesting to see how this concept works out.

Posted on: 9/5 15:54
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Re: 2017 Reval ~ Property Inspections
#9
Home away from home
Home away from home


Taxing on valuation is not perfect, but on balance it is the best way to do it. Most towns would fall to pieces if they employed your idea. Typically the wealthier homes carry a lot of the weight. If that changed those of lesser means would be blown out under your logic. JC is a very strange exception to this rule as it is currently a reverse Robin Hood situation.

I'm all for JC getting more taxes out of the commercial base, but not sure how much they really could squeeze relative to the total take.


Posted on: 7/17 17:04
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Re: Gringos Taqueria - Coles Street
#10
Home away from home
Home away from home


Hey Dr - let's just stick to facts please. I'm all for smart commercial development. In fact a well planned out restaurant/ bar area no doubt raises property values on the whole. The key is "smart". JC has a very haphazard restaurant overlay and toothless code when it comes to distinctions between bars and restaurants. You think JCPD enforces noise code much?

So you get places like Gringos which would be far less likely to cause problems were it not surrounded by residential homes/condos. It's pretty tough to argue that a place like that open til 3am on weekends is going to be a net positive for neighboring residents. It's not much different than being close to a fraternity house or airport. People get discounts on real estate to compensate for all the negative externalities.

Furthermore being close to Chris Columbus is an apples to oranges argument. You think there's much noise coming from that road past 10PM? Nope. Plus any auto noise is much different that low end bass from bar stereos and the yelling drunks rolling out after last call.


Posted on: 6/13 17:32
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Re: Gringos Taqueria - Coles Street
#11
Home away from home
Home away from home


there seems to be minimal consideration for impact on residential neighbors with the bar boom occurring in DTJC.

Gringos looks like fun but the location is terrible in terms of the negative impact it will have on neighbors. They somehow got permits for a roof deck (neighboring rowhouse is 10 feet away) and outdoor seating by Coles.

All of those residential units within the noise footprint just took a 10% price haircut. Not sure that's what they signed up for when they bought...

If Gringos is smart they close at 11 and pay to police Maxwell Alley to keep drunken shenanigans to a minimum...

Posted on: 6/13 8:17
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Re: Police Pursuit ends in fiery crash in Jersey City Heights
#12
Home away from home
Home away from home


pretty sure the strategy for putting out a fire is to smother it. Not sure a boot to the head or body qualifies as smothering.

The excuses coming from the union are certainly imaginative...

Posted on: 6/9 6:40
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Re: 2017 Reval ~ Property Inspections
#13
Home away from home
Home away from home


how is there not more noise from every overtaxed owner? You'd think class action lawyers would be all over this one.

I hear fever pitch bleating from DTJC owners who have not paid their fair share in decades and a lullaby from those who have been subsidizing said rowhouse owners.

I do not get it...

Posted on: 5/25 22:16
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Re: 2017 Reval ~ Property Inspections
#14
Home away from home
Home away from home


Demand side of the equation is a wee bit stronger now than in the crack war days of the early 90s...

Posted on: 5/24 15:25
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Re: 2017 Reval ~ Property Inspections
#15
Home away from home
Home away from home


Let's say the typical DTJC rowhouse goes from about 12K in taxes to 24K - a simple double. What do you think that does to post-Reval valuations?

Maybe 15% haircut?

I think psychology may play a bigger role than the calculator in that it is a tough sell to say you pay suburb level taxes without the good schools/safe streets/etc.

Posted on: 5/23 16:51
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Re: 2017 Reval ~ Property Inspections
#16
Home away from home
Home away from home


The percentages don't lie brother. No amount of "it's not fair" changes this fact.

If you want to yell about something - how about demanding some accountability on where your tax dollars are going. I guarantee the JC schools could be run much better with far less budget if managed better. Yell at every poltiician who green lit some of the ludicrous pension deals for public servants without any regard to who/how it would be paid...

Posted on: 5/19 14:22
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Re: 2017 Reval ~ Property Inspections
#17
Home away from home
Home away from home


I don't think it's right to engage a group who is using specious arguments to convince people that they are getting screwed when it is quite the opposite. As for hardship, is it a hardship that their property is worth 2X or 5X what they paid for it? Yes cash flow may be tricky, but as you noted there are possible solutions.

It would do JC a huge disservice to back down to a vocal minority whose entire argument defies simple math and any sense of fairness. You are absolutely correct that JC has a serious problem if you get the combo of Reval plus declining state aid for schools. JC is a school welfare queen and is very much in the state's crosshairs for a cut.

Bottom line is JC's financial position could get pretty ugly in the next couple years. I too hope that revenues are put to better use than paying out bloated pensions, but if the state cuts aid that is gonna be a huge gut check.

Posted on: 5/19 10:54
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Re: 2017 Reval ~ Property Inspections
#18
Home away from home
Home away from home


I get his argument but it is irrelevant to the reval conversation. The Reval is revenue neutral to JC. JC won't get anymore money post reval.

Property tax is nothing more than a fixed percentage of the fair market value of one's home. Plain and simple: Home value x .019 = property tax.

Do you think Paulus Hook can make the case that they pay more than Van Vorst park and that is unfair? It is irrelevant.

It blows me away that such a simple concept like percentage is being made into such an existential argument.

DTJC owners- count your lucky stars that you have had a massive run up in value all the while enjoying an unfair tax advantage...

Posted on: 5/19 9:22
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Re: 2017 Reval ~ Property Inspections
#19
Home away from home
Home away from home


the amount of nonsense I have heard from seemingly intelligent people regarding the inevitable DTJC RE property tax increases is staggering. Everything from, it's not fair...that's too much...why can't they phase it in...how is this legal?...etc. How about you were majorly subsidized for the past 20 years and you really need to STFU?

City Hall is completely to blame as the longer DTJC owners got away with a ridiculously low tax rate the more "anchored" owners became to those numbers. Now they're fighting and clawing as if they are the victim. Please.

I'm surprised a class action lawsuit hasn't been filed by every non-DTJC owner who has been overpaying for the past 20 years. I'd be willing to bet the average Greenville owner has overpaid to the tune of 60K per home since the last reval in '88. That ain't chump change...

Posted on: 5/19 8:17
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Re: 2017 Reval ~ Property Inspections
#20
Home away from home
Home away from home


take .019 x your market value and that will be close to what you'll be paying.

Boodipooh - good points about gaming it. I guess if your place is average to below average condition for the neighborhood let em in. Otherwise...

Posted on: 5/17 15:32
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Re: 2017 Reval ~ Property Inspections
#21
Home away from home
Home away from home


I'd say it's best to let them in. They're certainly not going to make estimates that lower your value when they have to guess...

Posted on: 5/17 13:42
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Re: 400 Newark Avenue - More Development Proposed For Downtown
#22
Home away from home
Home away from home


with a subtle nod to 1960s East German housing design...

Posted on: 5/16 9:21
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Re: Basement flooding even after new check valve installed...
#23
Home away from home
Home away from home


Do the low lying areas in Brooklyn have similar problems with basement flooding? I'm assuming they have same old sewage infrastructure that NO politician ever upgraded...

It is kinda crazy to think about what DTJC accepts as "part of the deal". I agree that when taxes are 20-40K depending on rowhouse value there will be a lot more pressure on City Hall to get us out of the third world...

Posted on: 5/11 13:37
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Re: Basement flooding even after new check valve installed...
#24
Home away from home
Home away from home


Ugh. There is a square cut out of the concrete slab to access the main where they put in check valve and you can see dirt/ground all around the pipe. If that were to be filled in with concrete we would have less sewer overflow getting into the basement but would have to cut it open again should the pipe or check valve need work.

JC sewers don't make it easy on a homeowner...


Posted on: 5/9 15:57
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Basement flooding even after new check valve installed...
#25
Home away from home
Home away from home


We got flooded in Sandy/Irene. Not a surprise and post clean up we had a new check valve installed on the main pipe out to the street. When we get really intense rain like last Friday we still get water coming up from the cut out in concrete basement floor where the check valve is.

I'm pretty confident the check valve is working, but I'm trying to figure out what the cause might be. It only happens when there is pressure on the JC sewer system. Could it be that there is a small hole or crack in the main pipe somewhere between check valve and street that leaks when there are big rains/storms?

Curious if anyone else has had a similar experience... TIA

Posted on: 5/9 11:55
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Re: Clothing Moths
#26
Home away from home
Home away from home


Biscuit - do you think they get in from outside? That's the one thing I can't figure out is how they sneak back every couple years. I don't buy much in the way of clothes to begin with and not second hand (where there is some risk of importing the buggers).

Does JC have a natural clothes moth population??

Posted on: 5/8 12:48
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Re: Cutting down large trees on Barrow Street
#27
Home away from home
Home away from home


I would love to know what the official process for tree removal. My understanding is the utility company only flat tops the trees to keep branches away from wires.

JC DPW - who knows. It is scary to think one boneheaded owner could negatively impact a whole block by asking for a mature tree to be completely taken down.

Posted on: 5/8 10:05
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Re: Clothing Moths
#28
Home away from home
Home away from home


they are a menace. It's the larvae that do the damage/eating. The ones you see flying around won't chew your clothes but the females will lay eggs. They can stay in the larvae phase for up to 2 years so it is tough to get rid of them.

Start by emptying closet and give it a thorough vacuum and maybe pine sol treatment on floor baseboards. From there you have to decide if you want to dry clean all your clothes or put them in freezer to kill the eggs/larva.

Moths like wool and especially any clothes with dirt/sweat/etc. Cedar sticks don't do much at all, so don't waste money there...
Good luck

Posted on: 5/8 10:03
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Re: Flooding in Jersey City
#29
Home away from home
Home away from home


Please DTJC residents - take off your shoes before you set foot in your place. The streets are covered with watered down sewage from all the basements being pumped out. It is third world.

remember how they had the truck with loud speakers back in the day driving around to "spread the word" on things. I suggest bringing that back out of retirement...

Posted on: 5/5 17:02
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Re: Man punched, robbed in Jersey City after night of drinking, cops say (Downtown)
#30
Home away from home
Home away from home


just think of all the Bro cred he'll get telling his Boken buddies about how he got robbed while hammered in Jersey City. "Dude I was so wasted I couldn't even tell the cops where it happened man..."

Sadly this story will serve as a case study for the JC hooligans showing how to rob drunk targets late night in DTJC...

Posted on: 5/5 14:09
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