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Re: DT Jersey City Real Estate Market?!
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Home away from home
 
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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Yes! just sign up with a good real estate agency and start shopping, most of these properties are not so much "distressed" they may need a new bathroom and a kitchen remodel, but they are in pretty good shape and they make great rentals. I would say allot of these homes are located in distressed areas, just think of DTJC 1988. I have looked at a warehouse for 150k which sold for 390k in 2007, no bidding war its just in a distress part of town.
Posted on: 2013/2/6 15:06
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Re: DT Jersey City Real Estate Market?!
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Home away from home
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We closed on our new place in December but missed out on two properties before that due to bidding wars. We had looked for almost a year and the market changed in that year. By late 2012, places came on the mkt and were gone within a week. Good places gone in a day or two. We payed slightly more than asking but are very happy to be there.
Downtown is getting really hot all of a sudden. People in Brooklyn now perk up when we say we live in JC. They used to pity us. Our lovely undiscovered little hamlet seems to be on everyone's radar now.
Posted on: 2013/2/6 14:40
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Re: DT Jersey City Real Estate Market?!
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Home away from home
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Are there still distress properties in the market? How do you find them? Would love to buy something before the market explodes and gets out of our reach again...
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Posted on: 2013/2/6 14:20
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Re: DT Jersey City Real Estate Market?!
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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
Group:
Registered Users
Posts:
5356
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Quote:
Yep! This is a distress buyers market, I was just looking at a property on Fulton for 40k However this same property sold in 2006 for 265k. Its like a no brainier. Good Luck to the shopper, real estate is not easy in any area, there is always someone else looking for the same thing you are, and sometimes willing to pay more for it.
Posted on: 2013/2/6 13:59
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Re: DT Jersey City Real Estate Market?!
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Home away from home
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I sold my place before it even listed. I got the price I asked plus some. I sold it to the first people that came to see the place. This has happened to two of my neighbors and another owner down the street wasn't even thinking of moving and now is considering selling his place because of the market. I say the real sign for me was my coffee shop is crowded with young professionals in the morning, line up out the door. It wasn't like this last spring. I'm moving to give my growing family more room but feel lucky this seems to be a hot spot. I wasn't part of that Aussie thing either but I was told that has created a stronger Sellers market for those properties not involved in the Aussie situation.
Posted on: 2013/2/6 13:51
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Re: DT Jersey City Real Estate Market?!
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Home away from home
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Posted on: 2013/2/6 13:37
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DT Jersey City Real Estate Market?!
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Quite a regular
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What's going on currently with the Downtown JC real estate market?!? I have been looking to buy quite some time now and it seems the inventory has dried up....things are actually going into bidding wars as opposed to under asking.
My realtor says she has not seen it like this in years. Things are getting offers within 1 day of being on market. I know the post a few weeks back about the Australian investors, but that can't be it, can it? At least not in condo high rises I would think.
Posted on: 2013/2/6 13:01
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