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Re: Home values in JC up 9% last year?
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Home away from home
 
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Wow! ExUWSguy has lived here 4+ years & knows it all. I was going to put my 58 years in Heights 2 cents worth in but to be up against this......
Posted on: 2013/2/2 0:18
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Re: Home values in JC up 9% last year?
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Just can't stay away
 
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I've lived in the Heights for 4+ years, and I stand by my observations - again, my criticism for this thread was to answer another person's question as to why it doesn't seem like property values in the Heights are rising along with the rest of JC. And if voicing that makes me a 'miserable whiner' - well, I don't sugar-coat my comments. Assuming other people feel as I do - that moving to a neighborhood is not a "take it or leave it" proposition - I will invite other posters to offer-up suggestions for what needs to be done to deal with the 'less attractive' aspects of the Heights, in part (but not only for that reason) to enhance our equity in our property.
Posted on: 2013/2/1 19:27
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Re: Home values in JC up 9% last year?
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Just can't stay away
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"the Heights has no amenities or attractions to cause people to want to live with the general squalor and ghetto-ness of the nabe."
EXUWS guy--What you mistake for smugness on my part is pride in my block. Your tone in the last post was more even and mature and dare I say "constructive" but in the past most of your posts about the heights sound like the whiny negative rants of a miserable 5 year old and that still makes you part of the problem.
Posted on: 2013/2/1 17:42
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Re: Home values in JC up 9% last year?
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Just can't stay away
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Actually, I consider my area - Sherman Avenue north of Franklin Street - to be one of the nicer streets, with a mix of attractively adapted factory buildings, some lovely wood frame rowhouses, and of course the historic synagogue. That said, I'm less interested in the experiences of renters than I am hearing input about how to make a positive impact on the neighborhood, and would be curious what real stakeholders in the neighborhood have to say - for instance, the upcoming mayoral election, or the Planning Board vote next week on proposed zoning changes http://riverviewneighborhood.org/plan ... nts-critical-to-our-area/ etc. @bunny22, its all well and good to be smug about your tiny corner of the neighborhood, but the point of my original post is how the larger Heights neighborhood's issues impact our property values and what can (needs?) be done to change that.
Posted on: 2013/2/1 15:50
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Re: Home values in JC up 9% last year?
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Home away from home
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Not sure how Zillow and Trulia come up with their estimates - I would imagine it's based on the aggregate recent sales within a close proximity to your property. The more sales, the more pricing / value info available.
A cool thing to do is choose "for sale" and "recently sold" filter search on zillow and compare the two. DTJC is overwhelmingly recently sold with little inventory on the market. This in itself is a sign that most buyers either saw value or predicted upcoming prices to rise which certainly seems the case.
Posted on: 2013/2/1 15:49
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Re: Home values in JC up 9% last year?
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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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Zillow sez the "Zestimate" on my house just dropped by 4.2% since last month. What are they smoking? Good thing I'm not selling it.
Posted on: 2013/2/1 13:48
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Re: Home values in JC up 9% last year?
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Home away from home
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You left "Heights" out of the party, with his old school trashtalking the whole area east of Central, like it was still pre-elevator days when the Western Slope was the "classy" part of the Heights. The thing people lose sight of discussing real estate is it's all relative to "value" defined as what you get for your buck. You can't discuss Downtown vs Park Slope vs Heights like they're all the same price and the only difference is quality of life. As an investor, I personally think today there's more value for my dollar, and potential for gain as the area improves, in the Heights than Downtown. You can't rent a $800k 3 family Downtown for $10K/month, but you can rent a $300k 3 family in the Heights for $3750/month.
Posted on: 2013/1/24 19:15
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Re: Home values in JC up 9% last year?
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Just can't stay away
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Hah. I knew I'd hear from you--Vindication dude--the other longtime "Heights-trasher." You guys should get together and form a club. Both of you make broad, general negative sweeping statements about ALL of the heights and I wrote that what may be true of YOUR tiny little area/block is not true of ALL the other areas. I'm sorry both of you picked a bad block but I LOVE where I live and so does everyone else I've spoken with. The Congress Street/Riverview Fiske area is brimming over with ex-Hobokenites. Too bad you didn't choose a better area.
Posted on: 2013/1/24 18:03
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Re: Home values in JC up 9% last year?
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Home away from home
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That's an interesing viewpoint. So if you see problems in an area then you shouldn't bring it to the attention of everyone? You don't refute the things that ExUWSguy says but just that he is saying it? I live in dtjc and I speak out against the 99 cent stores and the ghettoness of "restaurant-row" on a daily basis. Sleep cheap? really? I do it because I want better things to come in the area....not because I want the area to fail.
Posted on: 2013/1/24 17:49
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Re: Home values in JC up 9% last year?
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Just can't stay away
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the Heights has nothing similar in terms of urban quality of life/surrougate borough of NYC aspect. Unless you are commuting in to midtown for work exclusively, transit is a bust (between the #87 bus and PATH it eaily takes me 1 hour to get to work in Manhattan Civic Center - 7 miles!!); the Heights has no amenities or attractions to cause people to want to live with the general squalor and ghetto-ness of the nabe.
In response to above from ExUWSguy--I know you feel trapped in the heights and regret moving there BUT this bitterness and venting/badmouthing the area is a way of shooting yourself in the foot here. If you want the area to improve so you can get the hell out of dodge, how about ixnaying the whining and trashtalking? People come to JC list and form impressions on areas based on what they read here so you're actually persuading people to not consider the heights. If what you said it were true, well, that's different but heights is large and diverse area so what may be true of your block isn't necessarily true for other areas. I know a lot of people who used to live in Hoboken who are coming up the elevator on Congress and happily renting within a few blocks. You are part of the problem, not the solution.
Posted on: 2013/1/24 17:32
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Re: Home values in JC up 9% last year?
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Home away from home
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Ultimately, your home is only worth what someone is actually willing to pay for it. Comparable home sales are about as good a measure as you'll get. An appraiser might be a little more accurate, but will also set you back $350 and is no guarantee. Quote: Unless you are commuting in to midtown for work exclusively, transit is a bust It's not as good as living right next to a PATH station, but try living in the suburbs. ;) NJ Transit is very expensive; driving is expensive and aggravating; buses often get stuck at the tunnels. Quote: the Heights has no amenities or attractions to cause people to want to live with the general squalor and ghetto-ness of the nabe. I don't live up there, but I do go through there regularly. Some of the blocks are really nice, like Sherman Place. Homes are (afaik) relatively cheap and spacious compared to downtown. And obviously, the slice of homes right on the Palisades have stellar views. Journal Square is also in for a rude gentrification shock -- since some developer wants to put in a bunch of massive towers. That could be a big boost to property values in that neighborhood. And, of course, as Manhattan and downtown JC and Hoboken get more dense and more expensive, people have to live somewhere. JSQ, Harrison and the Heights are much more likely to gentrify before Newark. The Heights aren't great these days, but people were saying the same thing about downtown JC 20 years ago.
Posted on: 2013/1/24 17:26
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Re: Home values in JC up 9% last year?
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Home away from home
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Newark has 280,000 residents, and Harrison has 14,000. In 2006, Newark had 105 murders. Harrison had 1. Because we're looking at rates per 100,000 -- Newark 37, Harrison 7 (the US average) -- we can compare the two properly. Newark has 5x more murders than Harrison, not 100x more murders. And as noted, the industrial part is going away. Hartz got torn down, and a big luxury condo project is going up. That alone is likely to bump home values a little bit.
Posted on: 2013/1/24 17:09
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Re: Home values in JC up 9% last year?
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Home away from home
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+1. In an area of mostly multifamilies, they have most listed at singles, driving down prices. I don't know how, when they explicitly mine the public tax records for their data, they ignore the code that tells the number of units on the property. A 3 family building of mine was "zestimated" at $250k The adjoining building, listed as a 3 and identical but for lacking the 300 sq ft ground floor extension was "zestimated" at $480k. Check out this graph on another Heights multi Price doubles in months! 
Posted on: 2013/1/24 16:39
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Re: Home values in JC up 9% last year?
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Newbie
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My friend sold his new condo after a year of buying it. It was on the market for a little over a month and sold for $45k higher than what he paid for it a year earlier for a 10% jump in value.
Downtown JC is definitely seeing a rise in home values. Heck, they've even fixed Newark Ave!
Posted on: 2013/1/23 21:55
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Home away from home
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Quote:
Harrison is still primarily an industrial town & about 1/4 the size of Newark. So your statement about crime stats, etc makes little sense.
Posted on: 2013/1/23 19:04
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Re: Home values in JC up 9% last year?
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Home away from home
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I think you hit the nail on the head with your post. Outside of being a cheap place to live, the heights has no attractive qualities. The parks are rundown, there are no restaurants or shops, the hospital is also a horrible place that correct me if I am wrong, went bankrupt...
Posted on: 2013/1/23 18:48
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Re: Home values in JC up 9% last year?
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Just can't stay away
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I've been watching the 'Zillow' estimate for my condo in the Heights continue its downhill slide during this time... Does anyone have a recommendation for a better way to get a since for the value of property in the Heights? An appraiser? Speak to a local realtor? There was an intersting conversation a few weeks after Superstorm Sandy, as to whether property values in the Heights would rise. I was - and still am - of the opinion that they won't. To HeightsBrat's question - I don't think you can separate local (NJ) property values from from people's perception of of the neighborhood relative to Manhattan/Hoboken/Downtown JC. On all accounts, the Heights has nothing similar in terms of urban quality of life/surrougate borough of NYC aspect. Unless you are commuting in to midtown for work exclusively, transit is a bust (between the #87 bus and PATH it eaily takes me 1 hour to get to work in Manhattan Civic Center - 7 miles!!); the Heights has no amenities or attractions to cause people to want to live with the general squalor and ghetto-ness of the nabe. Perhaps when Gaughan and the other corrupt dinosarus are out of office things will change...
Posted on: 2013/1/23 18:34
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Re: Home values in JC up 9% last year?
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Home away from home
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EDIT: Zillow's numbers are based off its own algorithms. If you look at the site, you can select the raw sales figures, which appear to be negative. Trulia's estimate seems to be much more conservative.
Posted on: 2013/1/23 13:37
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Re: Home values in JC up 9% last year?
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Home away from home
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Tell him to avoid Palisade Ave., Franklin St. and anything east of Central Ave. although Ogden Ave. is a nice quiet block overlooking the New York skyline. The Westen Slope is the quietest of the Heights not much in the way of public transportation. The area west of Pershing Field park is tranquil nice for early morning walks.
Posted on: 2013/1/23 12:34
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Get on your bikes and ride !
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Re: Home values in JC up 9% last year?
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Home away from home
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Harrison's crime rate is significantly lower than Newark's. The murder rate is 1/4 that of Newark or less. Burglary, assault, robbery about half. Theft is about 3/4 that of Newark. Vehicle theft is 1/3 of Newark. Harrison's schools aren't stellar, but they are better than Newark's. Harrison is also getting a bit of a makeover. They tore down the Hartz factory, and will be putting in a bunch of "luxury" condos right next to the PATH station. Home values will probably go through the roof soon. EDIT: Zillow's numbers are based off its own algorithms. If you look at the site, you can select the raw sales figures, which appear to be negative.
Posted on: 2013/1/23 3:44
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Re: Home values in JC up 9% last year?
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Home away from home
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what part of the heights are you referring to? i have a friend looking and i can tell him to avoid drug infested areas
Posted on: 2013/1/23 2:45
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Re: Home values in JC up 9% last year?
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Home away from home
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Where in the Heights are these properties ? Maybe the new tax assessment next year will change the market value for the better.
Posted on: 2013/1/23 2:02
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Get on your bikes and ride !
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Re: Home values in JC up 9% last year?
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Home away from home
Joined:
2011/12/12 0:13 Last Login : 2018/7/28 23:29 From Right here!
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Will someone explain to me where home prices have been rising. Certainly not in the Heights. We had an 8 room house for sale for $180k for last 3 years. Now it's a shell for druggies, drunks & stray cats. House across street for sale under $200k, no one even looked. Brand new condos in completely renovated bldg in the $175k area. All you see are 'For Rent' & 'For Sale' signs that go nowhere.
Posted on: 2013/1/23 1:37
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Re: Home values in JC up 9% last year?
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Home away from home
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They are separated by a river, but the demographics are very different. In fact Harrison is better than some of the areas of JC.
Posted on: 2013/1/23 1:24
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Re: Home values in JC up 9% last year?
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Home away from home
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I wouldn't put too much faith in the values from Zillow. Although it's possible, Zillow is also saying that home values in Harrison went up 14.9% year-over-year, while neighboring Newark home values went down 0.8% (the municipalities are separated by a river, but still....)
Posted on: 2013/1/23 1:07
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Re: Home values in JC up 9% last year?
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Home away from home
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This is from the article: ?Dynamics of hurricanes don?t have much of an impact,? Humphries said. He noted that after a storm, sales can increase because of new home construction." Nothing will change, downtown will remain desirable and appreciate faster than other areas of JC
Posted on: 2013/1/22 19:59
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Re: Home values in JC up 9% last year?
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Home away from home
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Home values in transit centered communities have been rapidly rising throughout the state. Its all the suburban hellholes without train access that has failed to appreciate since the crash.
Posted on: 2013/1/22 19:44
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Re: Home values in JC up 9% last year?
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Home away from home
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Location, Location, Location.
Jersey City is not homogenous and the increases were most likely in the areas closet to NYC - downtown, newport, etc.
Posted on: 2013/1/22 18:13
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Re: Home values in JC up 9% last year?
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Home away from home
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Wonder what the Sandy affect will be on damaged real estate. My home appreciated 3% from April 2012 to October 2012, but then got wrecked by the storm.
We are replacing everything and new cabinets, counters, appliances, everything upgrading - hoping the net will be positive once we get it reappraised after the construction is all completed.
Posted on: 2013/1/22 14:51
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Home values in JC up 9% last year?
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Home away from home
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Posted on: 2013/1/22 14:14
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