Sutherland wrote:
I think people aren't only concerned about making an investment, but suffering a loss if they lose their job, have to relocate for their job and have to sell for these or some other reasons. While not everyone is interested in making money, everyone hates losing money, especially a substantial amount.

Quote:

ThirdGrove wrote:
This discussion is interesting, but yields a very real problem. Everyone is looking to buy to invest, but not looking to purchase to live. I certainly do not want to pay the highest price in the area for my home; but on the flip coin, I'm not sharking every geography for a place to make a quick buck.

If you invest in a community, you'll probably yield dividends. If you like Jersey City and want to settle, buy here. After 10 or 20 years of life in a place you enjoy, you'll almost certainly be able to sell at a profit. This concept isn't Jersey City specific. This applies to Brooklyn, Staten, Queens, Manhattan, West Chester, w/e. Buy a place where you would like to live. Try to be savy when you buy, and after a certain time, you will be able to sell at a profit. Most importantly, you will have enjoyed your time.

IMHO, if you want to invest to make money, you should probably place you money in a business. Business exists as a way for some to make wealth. You believe in the Jersey City real estate market? Don't buy a property. Buy a stake in a real estate company invested in Jersey City. You'll have a much smaller headache.

If I were to attempt to make money in Jersey City, I wouldn't purchase a condo. I'd purchase a multi-unit house. That way, someone can pay your property taxes for you while you attempt to sit on an investment until the value increases.

Sutherland wrote:
I think people aren't only concerned about making an investment, but suffering a loss if they lose their job, have to relocate for their job and have to sell for these or some other reasons. While not everyone is interested in making money, everyone hates losing money, especially a substantial amount.


Quote:

ThirdGrove wrote:
This discussion is interesting, but yields a very real problem. Everyone is looking to buy to invest, but not looking to purchase to live. I certainly do not want to pay the highest price in the area for my home; but on the flip coin, I'm not sharking every geography for a place to make a quick buck.

If you invest in a community, you'll probably yield dividends. If you like Jersey City and want to settle, buy here. After 10 or 20 years of life in a place you enjoy, you'll almost certainly be able to sell at a profit. This concept isn't Jersey City specific. This applies to Brooklyn, Staten, Queens, Manhattan, West Chester, w/e. Buy a place where you would like to live. Try to be savy when you buy, and after a certain time, you will be able to sell at a profit. Most importantly, you will have enjoyed your time.

IMHO, if you want to invest to make money, you should probably place you money in a business. Business exists as a way for some to make wealth. You believe in the Jersey City real estate market? Don't buy a property. Buy a stake in a real estate company invested in Jersey City. You'll have a much smaller headache.

If I were to attempt to make money in Jersey City, I wouldn't purchase a condo. I'd purchase a multi-unit house. That way, someone can pay your property taxes for you while you attempt to sit on an investment until the value increases.

GetTheFacts wrote:
If you are looking wait, it will drop further than many could imagine, the safest place for the least drop is Journal Square cause it didn't rise quite the same rate as did downtown. And more of the homes in Greenville is very risky still even though they are cheapest. And the Heights like downtown could have a correction as well the closer they are to Hoboken, the more they rose.

Any of the new Developments remember the tax they should prediction after the abate it will be atleast twice if not 3 times that amount which will make it harder to sell than something which isn't abated.

For example after the abatement ended for the address 1 Greene Street in Paulus Hook, after the Abatement ended there was probably 20-25% of that building which hit the market within less than 1 year because of how much are now having to paid on them.

But if you are really set on the new stuff with not much moving wait to know when there are 5 or less remaining, as they might even sell them just to rid of it, since it is pure profit than having to wait for some one else to come along and might be cheaper than the first 5 were.

IE Trump or Gulls Cove, they have only another building each they won't start till all them are gone, because then they would have to discount them even further than that which they know. And the reason they do that is because on many of the sites unlike real estate agents who are independent contractors 1099, those individuals are W2 paid not 1099, so the last thing the developer wants to do is keep contribute to them, since with the others they wouldn't be. And the Manager alone are areoun $200K a year and the other are in the neighborhood of $80 a year, add it up and they are paying nearly $480K plus more more just to have them over 1099 individuals, so the shorter they have to pay the more they save on that other expense.

On all the rest of the units, it is that price or you don't get it period end of story. As each one or 3 or decided amount the all the prices raise of what is offer and that goes on many times.

In Manhattan because the taxes unless you are the property city hall will never tell what they are because you could have a property owner on the 2nd floor paying twice that amount of more on the 39th floor who may have paid more or not for there depending on when they put on the market. The taxes would be all over the place but the prices will be the same size in the same line of the buildings: Liberte Harbor is the exact same way as is Trump as is Gulls Cove as is Christal Point I think it is called as is the 1st building of the Beacon as Liberty Terrace and several in Jersey City and Hoboken as a tiny company called the marketing directors who is maybe 10 years old runs or ran them all, with the Salaried employees not the 1099 ones. And I would know as I worked for them where it was more precious to have a renter from Hoboken who had connections to that City Hall for those developers from there, than the two of renters from Jersey City, than a property owner or property tax payer and voter. Property Owners are much more stable than renters which any real estate agent in Manhattan can tell you because it is the most transiant City in the World with 75% rentals.

And even when they have 10 left they will begin negotation because usually by the time they hit 5 the vast majority of developers which just hand them over the the agents who are 1099 and not W2 and even make double the commission for the remaining, and save all that much more than having to pay those salaries any longer. Since it is really going to work and doing nothing and hoping it continues on forever.

ThirdGrove wrote:
This discussion is interesting, but yields a very real problem. Everyone is looking to buy to invest, but not looking to purchase to live. I certainly do not want to pay the highest price in the area for my home; but on the flip coin, I'm not sharking every geography for a place to make a quick buck.

If you invest in a community, you'll probably yield dividends. If you like Jersey City and want to settle, buy here. After 10 or 20 years of life in a place you enjoy, you'll almost certainly be able to sell at a profit. This concept isn't Jersey City specific. This applies to Brooklyn, Staten, Queens, Manhattan, West Chester, w/e. Buy a place where you would like to live. Try to be savy when you buy, and after a certain time, you will be able to sell at a profit. Most importantly, you will have enjoyed your time.

IMHO, if you want to invest to make money, you should probably place you money in a business. Business exists as a way for some to make wealth. You believe in the Jersey City real estate market? Don't buy a property. Buy a stake in a real estate company invested in Jersey City. You'll have a much smaller headache.

If I were to attempt to make money in Jersey City, I wouldn't purchase a condo. I'd purchase a multi-unit house. That way, someone can pay your property taxes for you while you attempt to sit on an investment until the value increases.

GetTheFacts wrote:
If they don't say it bottomed out even less buyers their are, than if they do say that just like the tax incentive. Some how if you aren't educated you will believe anything also who see as an expert when they are not. It goes with anything, cause most people don't turn to an amature and just take everything for granted if they knew better than that person, more often than not.

On the note of Corcoran sound said they heard of and the were the first time ever busted on that island for the square footage cause they jacked it so much, and it was challenge after some bought and over a room was missing from the size they said it was, just to get the price than it was worth. And if Scott Brown was a Shock in Politics, that bust was equal to those companys on that island if not more. And when they were picked up by Coldwell Banker or Cendant the parent company it 2 or 3 times the level, cause it couldn't compete without some kind of funny business to buyers and sellers compared to the rest.

And then after that took Citi-Habitats as well which probably stunned everyone even more. Since that island is approximately 75% rentals and not 10-15% like most cities because rentals are so unstable and no votes are guarantee like that of property owner are who pay property taxes, you can just run from it like you can from a rental. There is more companies like nearly 5-10 times the companies who only do rentals because they can't really get very many properties to sell like they can find rentals on that island, unlike anywhere else. And a good amount those building are called REITS, and once paid off it is like 5% occupany only to run and maintain them and the pure profit.

Why do you think Lefrak does so well from Newport or Battery City or Lefrak City in Brooklyn, mostly condos or more like 90-95% rentals. And that is Mocco intention as well for Liberty Harbor he recognize how much the Newport one make. And the city did emminent domaine on 15-20 property owners with the were a few brownstone to have him start building, since they realize what was about to happen and they were in the way and could get top dollar on them since they were only going to be torn down to make something bigger instead.

Has the market bottomed?

What would cause JC real estate values to go up? The fndamentals are poor. To wit:

- interest rates have no where to go but up.
- excess inventory (both new construction and resales) exists.
- the specter of higher property taxes looms.
- bad public schools.
-imminent expiration of the home-buyer tax credit.

All of the above place a downward pressure on downtown Jersey City real estate.

What upward pressures exist?

GetTheFacts wrote:
In residential they aren't really around any more that part was sold off separately from the commericial. The very first computer system in Manhattan they had in the industry and it was 10 years before anyone else caught onto what it even was.

Whether they are know over hear, it is besides the point, when a company watches an entire nation, not just where it is located, they can watch and predict things better than anyone else can do.

Of the oldest 5 you only mention 1 which was brown harris stevens and the were 4th oldest or 5th oldest. Corcoran is like Weichert hate to bust your bubble but only a baby in knowledge and skills. They are like Weichert a hell of a lot of agents, but they also are know in the industry as the pit to avoid unless it is Citi-Habitats which is even worse than them.

chiefdahill wrote:
Quote:

GetTheFacts wrote:
Well thriftyT you are probably a real estate agent or a real estate broker who has never heard of William B May...
are an assistant of someone like I was, and the information is about 300-400 hours of education in value not another only a 150 from being an agent and 2 years.

Dude, he's not a RE broker. It's called punctuation. He's not the only one that has difficulty reading your posts. So do I. Try using more periods instead of the run on sentences.

GetTheFacts wrote:
In residential they aren't really around any more that part was sold off separately from the commericial. The very first computer system in Manhattan they had in the industry and it was 10 years before anyone else caught onto what it even was.

Whether they are know over hear, it is besides the point, when a company watches an entire nation, not just where it is located, they can watch and predict things better than anyone else can do.

Of the oldest 5 you only mention 1 which was brown harris stevens and the were 4th oldest or 5th oldest. Corcoran is like Weichert hate to bust your bubble but only a baby in knowledge and skills. They are like Weichert a hell of a lot of agents, but they also are know in the industry as the pit to avoid unless it is Citi-Habitats which is even worse than them.

GetTheFacts wrote:
Well thriftyT you are probably a real estate agent or a real estate broker who has never heard of William B May, but Peter Mocco who in Charge of Liberty Harbor Has, and who knows they are probably still in some way involved with the Commercial space there since the residential was taken over by the marketing directors because it was staled so many times while the initial stuff was built. Instead of the Communities name prominently displayed like on less real esstate than a company name on more. In commercial real estate you put to agents on a deal and if one is from William B May the other they won't even listen to as they are seen as just a beginner, and doesn't matter that the william b may agent is only and agent and not a broker associate as in that company you are taught everything in the brokers school and more like on average have to have over 10 years not 2 to qualified to be with them unless you are an assistant of someone like I was, and the information is about 300-400 hours of education in value not another only a 150 from being an agent and 2 years.

GetTheFacts wrote:
It depends on location, technical even though the prices have come down, the amount being paid is across the city only a 2% dropping taking into considerations all area of the city and not the area closest to Manhattan which technical still increasing very slightly, and the stockmarket coming back aleady, so they will never see the drop like they have never seen in over 150 years. The biggest drop is most like Greenville Followed by Jersey City Heights, and that is those properties close enough to Hoboken to be appraised on the Hoboken Values and not the Jersey City ones around them, as after downtown, the next safest area to hold is Journal Square area since it maybe 3 PATH Stops but does least have 1. The farther one is from that train the great it would have been, and without those water taxis, places like Port Liberte would have been include, but it just happens to have that water taxi for the rush hours going directly over to that island. And with that PGA turnament which was schedule even before that golf course was build because they are planned that far in advance should help paint picture of what those home cost. The biggest of that condo complex is townhouses, the the most expensive property every in this city was in that complex by alway double any brownstone in downtown, and only 4 bedrooms too and 3 baths.

So no matter where you live, firgure it out as unlikely 99.999999999999999999999999 percent of the rest of the real estate I have worked as only an assistant to the #1 company of that city who was number 2 in age, and only had 200-250 agents on that island or 1 of the other 4 boroughs as the rest were worth the trouble to them.

And I left it, today or in the last 2 years agents are making shit in either Jersey City or the rest of Hudson County nor in Manhattan whether it is Rentals or sales, and across that river you pay normally almost 2 months rent not 1.

Just a tip.

GetTheFacts wrote:
Well thriftyT you are probably a real estate agent or a real estate broker who has never heard of William B May, but Peter Mocco who in Charge of Liberty Harbor Has, and who knows they are probably still in some way involved with the Commercial space there since the residential was taken over by the marketing directors because it was staled so many times while the initial stuff was built. Instead of the Communities name prominently displayed like on less real esstate than a company name on more. In commercial real estate you put to agents on a deal and if one is from William B May the other they won't even listen to as they are seen as just a beginner, and doesn't matter that the william b may agent is only and agent and not a broker associate as in that company you are taught everything in the brokers school and more like on average have to have over 10 years not 2 to qualified to be with them unless you are an assistant of someone like I was, and the information is about 300-400 hours of education in value not another only a 150 from being an agent and 2 years.

GetTheFacts wrote:
It depends on location, technical even though the prices have come down, the amount being paid is across the city only a 2% dropping taking into considerations all area of the city and not the area closest to Manhattan which technical still increasing very slightly, and the stockmarket coming back aleady, so they will never see the drop like they have never seen in over 150 years. The biggest drop is most like Greenville Followed by Jersey City Heights, and that is those properties close enough to Hoboken to be appraised on the Hoboken Values and not the Jersey City ones around them, as after downtown, the next safest area to hold is Journal Square area since it maybe 3 PATH Stops but does least have 1. The farther one is from that train the great it would have been, and without those water taxis, places like Port Liberte would have been include, but it just happens to have that water taxi for the rush hours going directly over to that island. And with that PGA turnament which was schedule even before that golf course was build because they are planned that far in advance should help paint picture of what those home cost. The biggest of that condo complex is townhouses, the the most expensive property every in this city was in that complex by alway double any brownstone in downtown, and only 4 bedrooms too and 3 baths.

So no matter where you live, firgure it out as unlikely 99.999999999999999999999999 percent of the rest of the real estate I have worked as only an assistant to the #1 company of that city who was number 2 in age, and only had 200-250 agents on that island or 1 of the other 4 boroughs as the rest were worth the trouble to them.

And I left it, today or in the last 2 years agents are making shit in either Jersey City or the rest of Hudson County nor in Manhattan whether it is Rentals or sales, and across that river you pay normally almost 2 months rent not 1.

Just a tip.

Enigma31 wrote:
What is everyone's current opinion on the Jersey City housing market? Do you think it has bottomed? What type of percentage decline in condo prices do you think has occurred from 2007/2008 until now? I would guess at least 10%. Do you think prices will continue to decline?