Register now !    Login  
Main Menu
Who's Online
79 user(s) are online (51 user(s) are browsing Message Forum)

Members: 0
Guests: 79

more...




Browsing this Thread:   1 Anonymous Users




(1) 2 »


Re: Jersey City real estate prices going back to pre-bubble burst prices
#33
Home away from home
Home away from home


Hide User information
Joined:
2012/1/11 18:21
Last Login :
2019/12/26 15:30
From GV Bayside Park
Group:
Registered Users
Posts: 5356
Offline
Here is a write up on JC during the bubble.

YES, there is a Starbucks in Jersey City. But there's only one, directly across the street from the Pavonia/Newport PATH Station in the glimmering heart of a revived Hudson River Waterfront, whose glass-plated office towers and luxury high-rises stand proud and tall; these days not so much in the shadow of Manhattan's famous skyline but rather as a kind of graceful western extension.
Yet coffee aficionados need not worry, as a variety of tasty brews can be found around town. The Hard Grove Cafe on Grove Street, for example, is a Cuban-American diner with gold foil palm trees that serves caf? con leche rich and piping hot.
The aggressive development of Jersey City's waterfront and downtown districts that began roughly a dozen years ago, after a false start during the 1980's, has resulted in what some might refer to as an urban renewal of legendary proportion. But that didn't stop Julie Kaufman, who has lived in Jersey City since 1988, from recalling the bad old days: "First of all, Exchange Place didn't exist," she said, referring to a new PATH station in the city's financial center. "And the Pavonia/Newport PATH station was a total wasteland that you didn't walk across; you ran.

There were hookers on the streets and drug deals going down right out in the open."

Despite a vigorous and successful campaign by developers and city officials to "put Jersey City on the map," many people, including New Yorkers who live only a few miles away, continue to have little sense of the place.
Sure, the Goldman Sachs building, Harborside Financial Center Plaza and the Newport development can be seen from the west side of Manhattan, but the glitzy new buildings in the waterfront area, built first to accommodate dot-com companies and then Back-office divisions of major financial institutions, are merely the tip of the iceberg.
Jersey City is as sprawling as it is diverse, and the fact that some real estate agents have taken to calling it "the sixth borough" is not entirely accidental. Like Brooklyn, Jersey City is huge and encompassing of many neighborhoods, or sections, each of which has developed a particular character over time.
Historic downtown, for example, is not only within walking distance of the newly gentrified waterfront, it is also home to a significant portion of the city's brownstone row houses, which were built around Van Vorst Park and Hamilton Park at the end of the 19th century. Jersey City's downtown and waterfront were the areas most ravaged by poverty and decay during the decades after World War II. Yet these areas were the first to be remade.

"At any point during the 1970's you could have bought a whole side of Van Vorst Park for $100,000," said Dan Frohwirth, director of real estate for the Jersey City Economic Development Corporation, a nonprofit organization that functions as a liaison between developers and the city. "Now you're going to pay over a million for a house with recessed lights and a Sub-Zero refrigerator."

In contrast, Jersey City Heights is a densely populated residential neighborhood in the northernmost part of the city. Most of the Heights housing consists of detached two-family dwellings, with some low- to mid-rise apartment buildings. Greenville, on the southern tip of the city, has single-family houses built in the early 1900's, and the Country Village development, which comprises two-family detached and attached houses built in the early 1960's.
The newest development in western Greenville is an exclusive waterfront community called Port Libert?, which has become increasingly popular among affluent families.
And this is only the beginning. Also within Jersey City is the Martin Luther King Bergen/Lafayette neighborhood, a notoriously decrepit underclass stronghold that has suddenly turned up-and-coming because of its desirable brownstone row houses and proximity to downtown Manhattan via the Hudson-Bergen Light Rail Transit. And Journal Square has recently become a focal point for commercial and residential developers, largely because of its precious PATH station.
Michael Berney, an agent at Liberty Realty, which started in Hoboken and expanded to downtown Jersey City three years ago, said: "Jersey City is so hot right now with the waterfront and downtown basically finished, that a natural expansion has occurred. Potential buyers who previously wouldn't consider anything outside of Hoboken are now more than open to Jersey City."
Checking the latest Hudson County Multiple Listing Service report, he continued: "There's been a 17.69 percent average price increase on all sales in Hudson County between 2003 and 2004. Year to date, the number of closed sales has also gone up 27.5 percent. Suddenly there are bidding wars."

In Jersey City, where the real estate market is inexorably linked with the New York market, three features that most frequently attract urban home buyers are square footage, parking and outdoor space. At the upper end of the Jersey City market ($750,000 to $1.5 million), a buyer may purchase a downtown brownstone in good to mint condition, or a spacious condominium in a luxurious waterfront building with countless amenities. One such apartment that recently hit the market for $1.25 million is a 1,667-square-foot penthouse with an additional 1,500 square feet of private rooftop terrace space in a Washington Street building called the Sugar House.

Many choices also exist in the $300,000 to $600,000 range. One is a two-family house in Jersey City Heights for $440,000, with an annual property tax bill of $5,103.
Despite the fact that much Jersey City property has doubled in value since 1994, first-time home buyers need not be discouraged. According to a recent Multiple Listing Service report, there were a total of 115 available properties for less than $200,000 apiece in all of Jersey City. Most of these were one- and two-family houses in Greenville and Journal Square, one-family houses in Bergen/Lafayette and Jersey City Heights, and mostly one-bedroom but some two-bedroom condominiums all around town.

For families, the biggest question about Jersey City can be said in a word: schools. Like systems in other densely populated urban areas, this one has a history of being strained by overcrowding, underfunding, high dropout rates and a multitude of other problems faced by districts that serve large numbers of disadvantaged children. Evidence can be found in the 2002-03 district SAT scores of 413 for math and 392 for verbal, compared with statewide averages of 518 and 500, respectively.
But there are options. Between Jersey City and neighboring Hoboken there are at least four charter schools (Grades kindergarten through 8), three private schools (Cornerstone School in Jersey City and Stevens Cooperative School and Mustard Seed School, both in Hoboken) and too many parochial schools to count.
Ms. Kaufman sends her children to the Learning Community Charter School, a public school on Grand Street in Jersey City. "The classes are small and the child-centered Bank Street method of education they use is really effective," Ms. Kaufman said. "Already, our third and fourth graders have tested above the statewide average."
Jersey City is booming, but that doesn't mean it's a panacea. Jersey City property taxes run higher than New York City's, and some of the land remains polluted by obsolete manufacturing plants. Also, the place is too rambling for one pulsating hub like Washington Street in Hoboken or Seventh Avenue in Park Slope to emerge.
Stephen Becker, who is 36 and single and has lived within walking distance of his waterfront office and the Grove Street PATH station for 10 years, has recently become the happy beneficiary of sushi restaurants, upscale bars and chain retailers like Pier 1 and Target.
Still, when asked where in Jersey City he likes to go out for an evening of socializing or entertainment, Mr. Becker, who works for EquiServe replied, "Manhattan or Hoboken."
At the same time, old neighborhoods have started to gel in new ways. Ms. Kaufman, who never expected to stay in Jersey City for the long haul of family life, can't imagine living anywhere else. "Both of my children," she said, "know every single person who lives on our block.''

BUYER'S
ADVISORS


Posted on: 2014/5/10 15:30
 Top 


Re: The next real estate bubble
#32
Home away from home
Home away from home


Hide User information
Joined:
2012/1/19 4:04
Last Login :
2017/4/20 19:08
Group:
Registered Users
Posts: 1080
Offline
Quote:

jcguy05 wrote:
Quote:

Goldjason wrote:
A few days ago I participated in a discussion on the subject of Australian Investors buying up property in Jersey City. My explanation raised a lot of eyebrows with many coming on with not so warm comments.
The New York Times article on 01/30/2014 in Business Day by Michael Corkery made my day since it is describing exactly what I felt was going to happen -"The next real estate bubble? engineered by the Banksters. Real Estate prices in less desirable neighbourhoods will go up for the wrong reasons making it more difficult for people on modest income to own their own home. The majority will end up being renters of properties owned by these large corporations in the major cities.
I am glad some Members of Congress are taking notice by requesting hearings on how such single family rental bonds will impact on the housing market.


Real estate is just like any other commodity - its price affected by supply/demand.

Shelter is a basic human right, having your own property is not a right, but a luxury - only afforded to those who have the means.

This sense of entitlement to home ownership is largely the fault of the government propaganda.


A post which makes sense!

Posted on: 2014/1/30 19:41
 Top 


Re: The next real estate bubble
#31
Home away from home
Home away from home


Hide User information
Joined:
2013/1/23 19:44
Last Login :
2023/4/21 14:20
Group:
Registered Users
Posts: 344
Offline
Quote:

Goldjason wrote:
A few days ago I participated in a discussion on the subject of Australian Investors buying up property in Jersey City. My explanation raised a lot of eyebrows with many coming on with not so warm comments.
The New York Times article on 01/30/2014 in Business Day by Michael Corkery made my day since it is describing exactly what I felt was going to happen -"The next real estate bubble? engineered by the Banksters. Real Estate prices in less desirable neighbourhoods will go up for the wrong reasons making it more difficult for people on modest income to own their own home. The majority will end up being renters of properties owned by these large corporations in the major cities.
I am glad some Members of Congress are taking notice by requesting hearings on how such single family rental bonds will impact on the housing market.


Real estate is just like any other commodity - its price affected by supply/demand.

Shelter is a basic human right, having your own property is not a right, but a luxury - only afforded to those who have the means.

This sense of entitlement to home ownership is largely the fault of the government propaganda.

Posted on: 2014/1/30 19:31
 Top 


The next real estate bubble
#30
Not too shy to talk
Not too shy to talk


Hide User information
Joined:
2014/1/23 10:50
Last Login :
2018/2/20 16:05
From Jersey City
Group:
Registered Users
Posts: 34
Offline
A few days ago I participated in a discussion on the subject of Australian Investors buying up property in Jersey City. My explanation raised a lot of eyebrows with many coming on with not so warm comments.
The New York Times article on 01/30/2014 in Business Day by Michael Corkery made my day since it is describing exactly what I felt was going to happen -"The next real estate bubble? engineered by the Banksters. Real Estate prices in less desirable neighbourhoods will go up for the wrong reasons making it more difficult for people on modest income to own their own home. The majority will end up being renters of properties owned by these large corporations in the major cities.
I am glad some Members of Congress are taking notice by requesting hearings on how such single family rental bonds will impact on the housing market.

Posted on: 2014/1/30 17:38
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#29
Home away from home
Home away from home


Hide User information
Joined:
2013/1/23 19:44
Last Login :
2023/4/21 14:20
Group:
Registered Users
Posts: 344
Offline
No surprise here...i am speaking strictly of dtjc, not too familiar with the other areas.

1) inventory limited - no new condo constructions since 2008 ( i think crystal point was the last highrise condo), all rentals only afterwards.

2) demand up - the majority of people buying all work in the financial industry which is doing ok now, so buyer confidence is back so is the income.

3) record low mortgage rates - although i really dont see this as big a factor as some. a 1% increase on a 500k loan is only $416 extra a month, it is decent money but for the ones buying 750k homes with 1.5k+ condo fees/taxes, it's not a lot to affect the decision.

So yeah prices are going up, once the freedoom tower is completed, expect even more demand. Nothing beats a 10min 1 stop ride on the path train to wtc.

Even the crap by the rail yards between hoboken and newport, that has major construction issues and turns into a river everytime it rains, is going for 350k+ for 1br. They couldnt give those units away at 200k during the bad times.

Nuts!


Posted on: 2014/1/22 19:20
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#28
Home away from home
Home away from home


Hide User information
Joined:
2013/10/15 19:58
Last Login :
2015/12/30 14:17
From Paulus Hook
Group:
Registered Users
Posts: 195
Offline
Quote:

VanVorster wrote:
Wonder if this project will be resurrected or what form it will take now that development appears to be back in full swing. http://newyorkyimby.com/2012/08/rem-k ... tys-111-first-street.html


The site is owned by the same people who are building 110 First across the street (the construction project right next to the Harsimus Cove HBLR station). They're using 111 First as a staging ground for construction now, but it's supposed to start construction once 110 First is finished. Not sure if the Rem Koolhaas design is still in place, though. Probably not.

Posted on: 2014/1/14 18:36
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#27
Home away from home
Home away from home


Hide User information
Joined:
2005/7/13 15:03
Last Login :
2023/6/11 23:48
From Western Slope
Group:
Registered Users
Posts: 4638
Offline
Quote:

score09 wrote:
Quote:

This place[/url] was purchased for 65k in October.


Holy cow! 65K?

This is an unusual purchase not meant for the regular home buyer. It was owned by real estate people and sold to a cooporate LLC company. I'm sure there was a profit being made somewhere.
http://tax1.co.monmouth.nj.us/cgi-bin ... 630106____00029_________M

http://tax1.co.monmouth.nj.us/cgi-bin ... 200705____00004_________M

Posted on: 2014/1/14 12:17
Get on your bikes and ride !
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#26
Home away from home
Home away from home


Hide User information
Joined:
2012/8/6 22:56
Last Login :
2019/11/14 1:56
Group:
Registered Users
Posts: 1058
Offline
Quote:

luvHomeMyJC wrote:
I sincerely hope that only financially sound and capable people are able to secure a mortgage....

It's not 2004 anymore. Lenders are still being very strict these days. They have fairly strict income standards, and ask for lots of documentation.

Posted on: 2014/1/14 1:06
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#25
Home away from home
Home away from home


Hide User information
Joined:
2013/3/29 21:43
Last Login :
2023/9/5 18:27
From Bergen Hill
Group:
Registered Users
Posts: 1980
Offline
Quote:

user1111 wrote:
The most impressive conversion in my area is the house on 48 Danforth. An Israeli family really did an amazing job its really a stunning home which currently estimates at 175k.

I?ve driven past that house a few times and it really is amazing. The price is certainly interesting.

I somewhat expect a bit more of this in the near future as gas prices continue to rise and the need for mass transit increases.

Downtown received a lot of early attention, but things are flipping fast outside of it.

Posted on: 2014/1/14 0:55
Dos A Cero
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#24
Home away from home
Home away from home


Hide User information
Joined:
2006/11/13 18:42
Last Login :
2022/2/28 7:31
From 280 Grove Street
Group:
Registered Users
Posts: 4192
Offline
If indeed Jersey City real estate prices are going back to pre-bubble burst prices, why is the city still offering tax-abatements to developers?

Posted on: 2014/1/13 23:59
My humor is for the silent blue collar majority - If my posts offend, slander or you deem inappropriate and seek deletion, contact the webmaster for jurisdiction.
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#23
Home away from home
Home away from home


Hide User information
Joined:
2012/1/11 18:21
Last Login :
2019/12/26 15:30
From GV Bayside Park
Group:
Registered Users
Posts: 5356
Offline
Quote:

HPYC wrote:
Quote:

user1111 wrote:
The most impressive conversion in my area is the house on 48 Danforth. An Israeli family really did an amazing job its really a stunning home which currently estimates at 175k.


I've driven past that house many times taking the back way to Bayonne, and admired it. The only thing I don't care for is the fence, but the rest is really sharp.


I think the fence was chosen because of the dogs they have. I wonder how much it cost to heat that place? I am paying 80 bucks a month for a three level three bedroom. I almost purchased a home like this on Bentley but passed because of no train and was worried about the heating bills because none of the fireplaces worked.

Posted on: 2014/1/13 22:33
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#22
Home away from home
Home away from home


Hide User information
Joined:
2007/9/1 14:14
Last Login :
2021/3/15 20:01
From Downtown - H.P. area
Group:
Registered Users
Posts: 473
Offline
Quote:

user1111 wrote:
The most impressive conversion in my area is the house on 48 Danforth. An Israeli family really did an amazing job its really a stunning home which currently estimates at 175k.


I've driven past that house many times taking the back way to Bayonne, and admired it. The only thing I don't care for is the fence, but the rest is really sharp.

Posted on: 2014/1/13 22:03
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#21
Home away from home
Home away from home


Hide User information
Joined:
2004/11/6 21:13
Last Login :
2023/7/17 17:42
From Hamilton Park
Group:
Banned
Posts: 5775
Offline
Quote:

Wishful_Thinking wrote:
Quote:

07310 wrote:
As Manhattan prices go higher and more middle and upper middle income people are priced out of MH and BK you will see more of them as your neighbors.
A RE agent told me what he thought my condo was worth now, the value is higher than it was in 2007 during the height of the bubble.

Which agency did you speak to? I bought my condo in the Heights in 2008, and following it on www.zillow.com the estimated value only seems to go down

It sounds like it may make sense to speak to a pro who knows the local market - hopefully the Heights isn't resistant to any uptick in value...


My place on Palisade is, according to Zillow, now worth about what I paid in 04, and up 21% since last June. But it would need to be up 60% to be at what they show as the 07 peak. The zillow graphs for Downtown vs other wards are drastically different.

Posted on: 2014/1/13 21:12
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#20
Home away from home
Home away from home


Hide User information
Joined:
2012/1/11 18:21
Last Login :
2019/12/26 15:30
From GV Bayside Park
Group:
Registered Users
Posts: 5356
Offline
The most impressive conversion in my area is the house on 48 Danforth. An Israeli family really did an amazing job its really a stunning home which currently estimates at 175k.

Posted on: 2014/1/13 20:01
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#19
Home away from home
Home away from home


Hide User information
Joined:
2012/1/11 18:21
Last Login :
2019/12/26 15:30
From GV Bayside Park
Group:
Registered Users
Posts: 5356
Offline
Quote:

Wishful_Thinking wrote:
Quote:

score09 wrote:
Quote:

This place[/url] was purchased for 65k in October.


Holy cow! 65K?

And it looks like it was pretty nicely renovated, too - so often the really cheap prices = a lot of work needed.

What to say about the neighborhood, though? I took the HBLR down for a tour of Bayview Cemetery last fall, and felt really out of place (and not because I was the only guy sporting a pocket square...) and received a few "looks". And I pride myself on being a city person and not one who worries about "being in the wrong neighborhood".

That said, I imagine if I could afford to keep-up an entire house and and have a car, too, I could feel sufficiently insulated from the less appealing aspects of where I lived.


Next time you are in the area say hello :) This house just went back on the market after the conversion and the renovations. It listed at 175k, I was surprised they turned it back into a one family. I didn't think families were this large anymore.

Posted on: 2014/1/13 19:50
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#18
Home away from home
Home away from home


Hide User information
Joined:
2013/10/15 17:32
Last Login :
2017/5/17 13:40
From Heights
Group:
Registered Users
Posts: 797
Offline
Quote:

score09 wrote:
Quote:

This place[/url] was purchased for 65k in October.


Holy cow! 65K?

And it looks like it was pretty nicely renovated, too - so often the really cheap prices = a lot of work needed.

What to say about the neighborhood, though? I took the HBLR down for a tour of Bayview Cemetery last fall, and felt really out of place (and not because I was the only guy sporting a pocket square...) and received a few "looks". And I pride myself on being a city person and not one who worries about "being in the wrong neighborhood".

That said, I imagine if I could afford to keep-up an entire house and and have a car, too, I could feel sufficiently insulated from the less appealing aspects of where I lived.

Posted on: 2014/1/13 19:46
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#17
Home away from home
Home away from home


Hide User information
Joined:
2011/5/4 18:05
Last Login :
2020/9/18 1:42
From Botswana
Group:
Registered Users
Posts: 214
Offline
Quote:

This place[/url] was purchased for 65k in October.


Holy cow! 65K?

Posted on: 2014/1/13 18:30
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#16
Home away from home
Home away from home


Hide User information
Joined:
2011/5/4 18:05
Last Login :
2020/9/18 1:42
From Botswana
Group:
Registered Users
Posts: 214
Offline
Quote:

MDM wrote:
If we end up with late 70's / early 80's inflation and interest rates, the real estate market might have one hell of a reverse.


I'd say that's a pretty big IF. Treasury Bonds were yielding 16 percent back then.

What plausible scenario is going to bring that about? Not a chance.

Posted on: 2014/1/13 18:24
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#15
Home away from home
Home away from home


Hide User information
Joined:
2006/8/15 21:22
Last Login :
2016/3/22 21:14
Group:
Registered Users
Posts: 435
Offline
Wonder if this project will be resurrected or what form it will take now that development appears to be back in full swing. http://newyorkyimby.com/2012/08/rem-k ... tys-111-first-street.html

Posted on: 2014/1/13 18:23
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#14
Home away from home
Home away from home


Hide User information
Joined:
2012/1/11 18:21
Last Login :
2019/12/26 15:30
From GV Bayside Park
Group:
Registered Users
Posts: 5356
Offline
Quote:

Wishful_Thinking wrote:
Quote:

07310 wrote:
As Manhattan prices go higher and more middle and upper middle income people are priced out of MH and BK you will see more of them as your neighbors.
A RE agent told me what he thought my condo was worth now, the value is higher than it was in 2007 during the height of the bubble.

Which agency did you speak to? I bought my condo in the Heights in 2008, and following it on www.zillow.com the estimated value only seems to go down

It sounds like it may make sense to speak to a pro who knows the local market - hopefully the Heights isn't resistant to any uptick in value...


I purchased in 2011 in GV and its been up and down... but for the last 8 months its been up... GV is expecting 40% foreclosure this year. Which is great for folks looking to buy, a big trend here is buying 2 family homes here and converting back to one family. This place was purchased for 65k in October.

Posted on: 2014/1/13 18:11
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#13
Home away from home
Home away from home


Hide User information
Joined:
2013/10/15 17:32
Last Login :
2017/5/17 13:40
From Heights
Group:
Registered Users
Posts: 797
Offline
Quote:

07310 wrote:
As Manhattan prices go higher and more middle and upper middle income people are priced out of MH and BK you will see more of them as your neighbors.
A RE agent told me what he thought my condo was worth now, the value is higher than it was in 2007 during the height of the bubble.

Which agency did you speak to? I bought my condo in the Heights in 2008, and following it on www.zillow.com the estimated value only seems to go down

It sounds like it may make sense to speak to a pro who knows the local market - hopefully the Heights isn't resistant to any uptick in value...

Posted on: 2014/1/13 18:04
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#12
Home away from home
Home away from home


Hide User information
Joined:
2005/11/12 17:04
Last Login :
1/10 13:10
From Downtown JC, VVP Area
Group:
Registered Users
Posts: 557
Offline
Quote:

MDM wrote:

If we end up with late 70's / early 80's inflation and interest rates, the real estate market might have one hell of a reverse.


I think it's more a "when" question than an "if" question. The current Fed policies aren't sustainable. The next crash is likely to be worse than the last because the debt cost is now that much higher.

Posted on: 2014/1/10 18:48
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#11
Home away from home
Home away from home


Hide User information
Joined:
2010/7/9 11:16
Last Login :
2/20 17:20
Group:
Registered Users
Posts: 2737
Offline
Mortgage rates have been kept artificially low by the Federal Reserve policies (which is basically printing money at this point).

If we end up with late 70's / early 80's inflation and interest rates, the real estate market might have one hell of a reverse.

Posted on: 2014/1/10 18:24
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#10
Not too shy to talk
Not too shy to talk


Hide User information
Joined:
2013/9/28 20:31
Last Login :
2014/4/6 23:53
From Jersey City
Group:
Registered Users
Posts: 33
Offline
granted our property taxes are higher than NYC but when you factor in NYC income tax , NY sales tax and the higher costs of goods in NY will continue to make Jersey City a great alternantive (cost wise) to NYC.

Posted on: 2014/1/10 17:54
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#9
Home away from home
Home away from home


Hide User information
Joined:
2012/7/31 14:55
Last Login :
2015/6/16 12:23
Group:
Registered Users
Posts: 165
Offline
Home prices have easily risen 33% since 2009/10/11 in some areas of DTJC. Barring another economic meltdown, they will surely rise higher.

Posted on: 2014/1/10 17:47
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#8
Home away from home
Home away from home


Hide User information
Joined:
2005/3/21 20:01
Last Login :
2020/9/5 14:18
From Exchange Place
Group:
Registered Users
Posts: 1397
Offline
As to condos downtown, make sure you look at comps, look at the tax records, look at price history, bring a measuring tape, and ask for a floor plan. Some of the listings have exaggerated square footage. Look at the quality of the renovations. Look at the view. Is it worth it.

Posted on: 2014/1/10 16:16
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#7
Home away from home
Home away from home


Hide User information
Joined:
2005/4/21 17:05
Last Login :
2018/3/26 15:30
Group:
Registered Users
Posts: 311
Offline
Also the Freedom Tower is coming online in 2014 which will bring many more high paying jobs to lower Manhattan. I expect the market will heat up in the areas with the easiest access to WTC i.e. DTJC especially Paulus Hook and Hoboken.

Posted on: 2014/1/10 15:04
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#6
Home away from home
Home away from home


Hide User information
Joined:
2004/11/8 3:36
Last Login :
2020/5/9 11:15
Group:
Registered Users
Posts: 969
Offline
As Manhattan prices go higher and more middle and upper middle income people are priced out of MH and BK you will see more of them as your neighbors.
A RE agent told me what he thought my condo was worth now, the value is higher than it was in 2007 during the height of the bubble.

Posted on: 2014/1/10 14:51
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#5
Just can't stay away
Just can't stay away


Hide User information
Joined:
2011/5/25 20:27
Last Login :
2021/1/14 12:53
From Hamilton Park
Group:
Registered Users
Posts: 123
Offline
They are only going to go up more. Were spitting distance to NYC.

Posted on: 2014/1/10 12:45
 Top 


Re: Jersey City real estate prices going back to pre-bubble burst prices
#4
Home away from home
Home away from home


Hide User information
Joined:
2012/11/10 20:38
Last Login :
2018/2/1 3:02
From JC
Group:
Registered Users
Posts: 3071
Offline
Quote:

luvHomeMyJC wrote:
I sincerely hope that only financially sound and capable people are able to secure a mortgage and not fall into the traps of "I make $10/hr yet I can get a $500k home" schemes that saw the ruin of many households.

Having said that, the prices jumping back is a good sign for existing home owners implying any (and there are many) under water homes are getting back into the black and equity is starting to rebuild.

Now if we can just do something about these damn property taxes. Just yesterday in the news the gov of NY in his state of union promised another cut in property taxes and we saw a hike just last year. Now the county is talking about a court house project with another tax increase. No wonder latest numbers show a migration of residents out of new jersey.


I think if people had their way, you'd continue to see a flood of morons purchasing homes outside their means. Fortunately, banks no longer will lend money to them. Think everyone's out of luck with property taxes though. Christie's got bigger things on his plate.

Posted on: 2014/1/10 1:56
 Top 




(1) 2 »




[Advanced Search]





Login
Username:

Password:

Remember me



Lost Password?

Register now!



LicenseInformation | AboutUs | PrivacyPolicy | Faq | Contact


JERSEY CITY LIST - News & Reviews - Jersey City, NJ - Copyright 2004 - 2017