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Re: Paulus Hook/Grove St
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Home away from home
 
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lulz. Do you even know what you previously said in this very thread? Quote:
Posted on: 2012/3/13 0:51
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Re: Paulus Hook/Grove St
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Home away from home
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Whenever someone rents or buys, they should consider the other option. Do you even know what the word consider means?
Posted on: 2012/3/11 1:00
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Re: Paulus Hook/Grove St
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Home away from home
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"high" is relative. It's your judgment, not a fact. They should consider buying? Why? Again, how can you possibly advise someone to make such a major financial decision such as buying without knowing their current financial situation and long-term goals? Financial planner, you are not.
Posted on: 2012/3/10 3:07
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Re: Paulus Hook/Grove St
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Newbie
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There is a FSBO (for sale by owner) near Grove with an Open House that I noticed tonight on Barrow St (bet Mercer and Montgomery Sts). Nr. Van Vorst Park
Open HOuse is tomorrow 3/10 from 10 am to 2 and again Sunday 3/11 from 10 am to 2 pm. Nice block in downtown JC. Check it out.
Posted on: 2012/3/10 2:06
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Re: Paulus Hook/Grove St
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Newbie
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thanks! that zillow tip really helped.
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Posted on: 2012/3/7 21:45
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Re: Paulus Hook/Grove St
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Home away from home
Joined:
2007/10/9 19:48 Last Login : 2013/2/18 15:54 From Van Vorst Park
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Not true. There are plenty of condo buildings where you can but down 10%. 400k buys you a small/decent 2 bedroom or a huge 1 bedroom in 07302. Closing cost in NJ are much cheaper than NYC since there is no mortgage recording tax. FHA allows 3.5% down as well.
There are a lot decent 1 bedrooms in the low 300's so even with 20% down you are looking at 60k plus closing costs so let's round that to 65k total. 10% down 35K total 3.5% down 15k total Rates are hovering around 4% give or take a few .125% depending on % down and programs for a 30yr fixed. Don't buy just because you think you have to or because you think you can flip for a profit.
Posted on: 2012/3/7 14:41
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Re: Paulus Hook/Grove St
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Home away from home
Joined:
2007/9/1 14:14 Last Login : 2021/3/15 20:01 From Downtown - H.P. area
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473
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Unfortunately, if you want to buy in 07302 nowadays you need to have more like $100k in cash, ready to plunk down on the barrelhead. Otherwise, unless you qualify for FHA, etc, you will not get a loan. It's how the market works now.
Posted on: 2012/3/7 2:46
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Re: Paulus Hook/Grove St
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Home away from home
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no hate, but where is someone supposed to get 20k if they don't have it saved up already? they can't just live on the street for a year until they get the 20k for a down payment.
Posted on: 2012/3/7 2:43
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Re: Paulus Hook/Grove St
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Home away from home
Joined:
2009/5/15 4:26 Last Login : 2017/12/25 1:59 From here to eternity
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512
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this should help you gauge the market etc
http://bit.ly/zwtyZe you should be able to find a large 1 br in your range decently close to the PATH>
Posted on: 2012/3/7 2:38
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Re: Paulus Hook/Grove St
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Home away from home
Joined:
2007/9/1 14:14 Last Login : 2021/3/15 20:01 From Downtown - H.P. area
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473
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I just vacated a 2BR in Hamilton Park that was renting for $1800. On the fringe and in an older building, I will admit. I would look in Hamilton Park before JSQ, BL or Greenville, with all due respect to residents of those nabes. I would also prefer HP over Van Vorst or Grove (which I think is really part of Harsimus Cove.)
Posted on: 2012/3/7 2:32
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Re: Paulus Hook/Grove St
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Home away from home
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5% down of 400k is 20k which is less than a year of what you would spend at 2600 a month for 12 months.
Of course the math has to work out for you and you have to stay in the general area....I'm just saying buying should be considered when you're losing 31,200 in rent a year at 2600/month. Why so much hate against buyers?
Posted on: 2012/3/7 1:27
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Re: Paulus Hook/Grove St
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Home away from home
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where are you going to get the 20% down payment on a 400k downtown condo? or 10%? or even 5%? just because someone can afford to pay $2600/mo doesn't mean they have piles of cash lying around
Posted on: 2012/3/7 1:10
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Re: Paulus Hook/Grove St
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Home away from home
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I'm just saying paying 2600 for a 1br rental is pretty high. They should consider buying and if they move, they could always rent depending on the location...
Posted on: 2012/3/7 1:01
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Re: Paulus Hook/Grove St
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Home away from home
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Really? You're telling someone to buy when you have no idea of their long-term situation or plans?
Posted on: 2012/3/5 12:56
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Re: Paulus Hook/Grove St
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Newbie
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I guess JSQ meets all your criteria, but I would also try the area around Liberty State Park - it's very well connected on the Light Rail and you may find some cheaper rentals a few minutes walk to the Light Rail. If all else fails, Bayonne or further into JC, but close to Light Rail can be a nice experience.
Posted on: 2012/3/5 1:04
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Re: Paulus Hook/Grove St
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Newbie
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Thanks everyone for your comments. And Nwk, I just emailed you.
Posted on: 2012/3/1 20:44
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Re: Paulus Hook/Grove St
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Home away from home
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1Brs are between 1300 (basement, no in unit laundry, no parking) to 2600 (77 Hudson with over 4,000sq ft of amenities)
Anything below 1300 would not be livable. If you are paying 2600 for a 1BR, you should just buy...
Posted on: 2012/3/1 18:24
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Re: Paulus Hook/Grove St
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Home away from home
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I have two VVP neighbors who are renting the ground floor Brownstone apartments in that range - w/o fee. 1 BR apartments.
Posted on: 2012/3/1 15:57
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Re: Paulus Hook/Grove St
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Just can't stay away
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Your answer lies right between the two extremes. Those extremes being User1111 and Catdog.
Posted on: 2012/3/1 14:41
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Re: Paulus Hook/Grove St
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Home away from home
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I'm guessing you haven't rented recently, user1111?
I have friends that have rented one bedrooms in the area recently for $1000-$1200. My previous two-bedroom was $1600, and when I last looked for apartments I found a recently renovated large two-bedroom with a big backyard that was $2200, and with laundry to boot. That's all in the Van Vorst/Grove St/Newark Ave area, too. So if you're going for a two bedroom, you can find something fantastic for $1500. If you're looking for a one-bedroom you can still find something pretty great.
Posted on: 2012/3/1 14:21
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Re: Paulus Hook/Grove St
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Home away from home
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Quote:
Yes, completely possible to find an apartment in that range in the downtown brownstones and other older buildings. You might be able to avoid a broker fee, but that's been less true over the last few years.
Posted on: 2012/3/1 14:18
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Re: Paulus Hook/Grove St
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Home away from home
Joined:
2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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5356
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For that price point, I would suggest JSQ, BL or Greenville. Unless you are looking for an apt to share at Grove or PH. You may find something on Grove but it may be a awful place.
Most of the rents on Grove start at 2100 for a 1 bedroom. Good Luck!
Posted on: 2012/3/1 11:54
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Paulus Hook/Grove St
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Newbie
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Hi Everyone,
I've been lurking on this forum for a little while now. I'm originally from West New York, and am currently living in Park Slope, Brooklyn. I'm interested in moving back to this side of the Hudson starting around mid-May to June. I'm wondering if there are other neighborhoods you would recommend for safety, convenience to PATH, and neighborhood amenities besides the two 'hoods I mentioned in the subject. I'm currently paying $1700, and would like to pay $1500-1700. Is this possible? Can I avoid a broker's fee? I don't have any real demands other then good light, and as many windows as possible. And I'd rather the place have a little bit of character (as opposed to linoleum floors and wallpaper). Thanks for indulging my real estate questions!
Posted on: 2012/3/1 4:40
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