Home Buying in Jersey City>Question Details

priya, Home Buyer in New York, NY

What do you think the price appreciation of Jersey City, Newport Condos will be over the next 3-4 yrs?

Asked by priya, New York, NY Mon Sep 9, 2013

Is this a good short-term investment, over a 3-4 yr horizon? (Our plan is to live in the apartment, so it'll save us rent hoping for some price appreciation)

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Hi Priya,
Downtown Jersey City & Newport are highly sought after areas. I have helped 3 buyers in the past 60 days buy in the area. An investment there has typically been good over the 5-10 year period, more for a longer timeframe. Of course, this is when you buy at a good price. As others have said, it's very hard to predict what the future holds.

If you have a few minutes to discuss specific areas & the type of condo you are looking to buy feel free to call or email me.

Sincerely, Kathleen

Kathleen Conroy
REALTOR® /Sales Associate
GOOGLE Certified, Marketing Specialist

Prominent Properties 
Sotheby's International Realty

email: Kathleen.Conroy@SothebysRealty.com
office: 201.680.7270
fax: 201.680.7271
mobile: 917.370.8181 (best)
0 votes Thank Flag Link Fri Sep 13, 2013
Hi Priya,

As you have heard previously, the market is unpredictable and for such a short timeframe you should not count on any appreciation. However, what I would advise you to do would be to consult your accountant to determine how much your effective tax savings would be comparing your current rent to your proposed purchase. Then, any appreciation above that will be icing on the cake.

If you would like my further guidance in purchasing a property I would love to help. Give me a call at 973.868.4034 or contact me at EmilVeltre@aol.com to schedule some time to discuss best next steps.

I look forward to helping you with this very important transaction.

Have a GREAT day!

Best regards,
Emil

Emil Veltre, RPh, MS, CDPE
Realtor Associate
Liberty Realty

Mobile: 973.868.4034
Email: EmilVeltre@aol.com
Website: http://www.EmilVeltre.com
Web Reference: http://www.EmilVeltre.com
0 votes Thank Flag Link Mon Sep 9, 2013
This is the kind of question that no one can answer. Newport is a nice area, the market seems to be on the upswing, so hopefully condos there will appreciate. No guarantees, and no percentages per year can be calculated. This is not a short term investment, but depending on the price you pay and your tax advantages, it may save you money in the short term.

If you'd like more information about any specific Newport properties available, please let me know.
0 votes Thank Flag Link Mon Sep 9, 2013
Nobody can predict the real estate market, and anyone who tries is showing a lack of professionalism. However, your time frame is way too short to depend on performance from a real estate asset, whose time horizon for potential gains is better realized in 10-30 years.
0 votes Thank Flag Link Mon Sep 9, 2013
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