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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
 
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2007/7/4 16:37 Last Login : 2021/11/4 21:55 From Hamilton Park
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I just went to the Webster and Hutton place last WE at some friends. The place is very nicely redone and the rooftop view is amazing, absolutely amazing. After the JC ward bike ride it certainly made my day!
Posted on: 2015/6/13 0:33
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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To bodhipooh,
I am not spinning anything. I laid out facts; you laid out your opinion. Some will be interested in facts; some in your opinion. Either is fine by me.
Posted on: 2015/6/12 21:09
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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I will grant you that new properties do go up. The problem is that you can end up living in a beautiful property with a not so nice one right next door, inhabited by a less than desirable neighbor. I've seen it first hand. Spin it all you want, New York Avenue still has a LONG way to go.
Posted on: 2015/6/12 20:56
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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That's a beautiful property!! Cool layout and finishes, too. If only it was closer to the PATH train. As we have discussed on many occasions, that's truly holding back that area. That property should have been snapped immediately. Thanks for posting the link.
Posted on: 2015/6/12 20:53
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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$449,000.
Quote:
Posted on: 2015/6/12 20:38
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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I guess you haven't been on that block in a while. Houses have been renovated and some knocked down and new ones put up.
There is no drug activity in that area -- unless you head toward franklin. Neighborhoods change fast. Quote:
Posted on: 2015/6/12 20:37
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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Quote:
What is the asking? There is a similar condo in the former leather goods factory on Webster and Hutton, asking $ 575,000 - https://www.halstead.com/sale/nj/jerse ... ter-avenue/condo/12545057 it could probably be laid out for 2 bedrooms + den/3 bedrooms.
Posted on: 2015/6/12 19:56
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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On New York Avenue!? Ha! Is the drug dealer that used to rule that street still around?? The last time I was on that "avenue" it was still a hodge podge of weirdos and shady characters, with nicer properties next to rundown ones. And, honestly, what good is a beautiful home next to a turd with crappy neighbors?
Posted on: 2015/6/12 18:33
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
Joined:
2008/1/3 19:12 Last Login : 2020/9/30 18:46 From Van Vorst Park
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Quote:
Well that's pretty absurd. Do the banks separate NYC from Upstate when determining their lending practices? How silly.
Posted on: 2015/6/12 17:45
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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There is a 3-bedroom condo with a private rooftop deck and skyline
views on New York Avenue near light rail elevator. It's about 1800 sq. ft. and listed on mls.
Posted on: 2015/6/12 17:07
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
Joined:
2013/10/15 19:58 Last Login : 2015/12/30 14:17 From Paulus Hook
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Quote:
Blame the banks. They (mostly) won't lend to developers for condo construction in New Jersey generally because, (i) as a whole, New Jersey has one of the weakest owner-occupied housing markets in the country, and (ii) they don't separate out the Gold Coast market when determining market conditions for their lending.
Posted on: 2015/6/12 17:00
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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2008/1/3 19:12 Last Login : 2020/9/30 18:46 From Van Vorst Park
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Yet most of the new buildings going up are rentals. When will we see a large influx of condos onto the market? The housing prices are inflated.
Posted on: 2015/6/12 16:39
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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2014/6/9 22:10 Last Login : 2017/6/16 11:22 From Jersey City, NJ
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The local for burbs question is 3-fold -- am i zoned for a good or good enough school? can i afford pvt school for 1? can i afford pvt school for 2?
Most folks doing the buying can often afford the pvt school for 1, because it's comparable to the added cost of suburban living, i.e. law care, commuting, et al. The make or break becomes pvt school for 2. So a move to the burbs becomes a reluctant inevitability for many.
Posted on: 2015/6/12 16:35
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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What does that have to do with anything? Since you apparently missed it: The point of the article is that condo inventory in DTJC and Hoboken is very low, to the point where sellers are getting multiple bids very quickly; buyers have to throw in extras, and bid above the asking price. It's a seller's market. That has nothing to do with the demographics of one couple profiled by the journalist.
Posted on: 2015/6/12 16:31
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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This is not new it's a familiar story that has been going on for years.
Posted on: 2015/6/12 16:18
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
Joined:
2014/12/21 14:43 Last Login : 2015/11/15 0:07 From Harsimus Cove
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Quote:
From their lips to the ears of the nannies pushing strollers on Newark Avenue who will hopefully leave a post-it on the doors of the SubZero for Wentworth and Pippa.
Posted on: 2015/6/12 14:58
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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What they say, and what they mean, are two different things. The western suburbs are full of families that have moved out of Hoboken and JC (and Brooklyn) when their kids hit school age.
Posted on: 2015/6/12 14:24
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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Quote:
What they actually said is they plan to move as a 2-bedroom won't be big enough for more than 1 kid (obviously they haven't been to the Heights - couples with 1 kid are happy in a studio condo, the 1-br is for when they bring the grandparents over to live with them). Speaking of the inexpensive housing crunch in general and the Heights (and other mass transit starved neighborhoods in particular) I'm surprised developers and housing advocates aren't pushing to expand the rail links to these neighborhoods. There are a lot of develop-able sites out there!
Posted on: 2015/6/12 14:14
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Re: High demand in Hoboken and Jersey City drives brutal bidding wars
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Home away from home
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Note that the buyers plan to bail when their kids reach school age . . .
Posted on: 2015/6/12 14:03
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High demand in Hoboken and Jersey City drives brutal bidding wars
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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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"In a seller's market, buyers have to do everything they can to win the bid. It's very competitive right now," he said. "You have to sweeten the pot a little bit."
Story
Posted on: 2015/6/12 13:51
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