We bought a home in Union City recently and the neighborhood is very safe, cheap to rent, and very convenient to get into Times Square. If you find something close to Palisades Avenue, you can take the NJ bus no 123 into Port Authority. On a good day, it's 15 minutes, on a bad day, maybe 25-30. Union City west of Palisades Avenue is mostly spanish speaking and to the east of Palisades Avenue is Weehawken, where you will find a good mixture of people. Generally speaking, I would recommend Union City, if you can be close to 30th street (you have MANY options there to catch the bus every 3 minutes, or closer to Palisades Avenue).... more
Unfortunately in this economy with the growing amount of foreclosures being scheduled in NJ, it is not easy to quantify the seasonal difference. Time periods are much shorter...a lot will depend on the bond market and interest rates in the Spring, as well as the comps in the area for the past 90 days. Tom Hinz www.shortsaletosell.com... more
Yes you can represent yourself without an agent, but I'd be careful about making sure you have an attorney review your documents in attorney review so you don't come across any surprises at or before closing. Tom Hinz www.shortsaletosell.com... more
Hi, I used to live in Jersey City as well, 7th St between Jersey and Coles to be exact. Depending on your price range and criteria you may have some good options in Westchester County. If you feel like providing more information I would be happy to assist.
Accredited Buyer Representative
William Raveis Legends Realty group... more
If you are trying to rent I would suggest looking in Journal Square or Heights area. Both those areas in Jersey city are conveniently located and offer more affordable rents than downtown. Average 1br runs about $1100 per month.
If you are interested in buying contact a few lenders to see how much house you can afford and get a pre-qualification letter. Then you can search for homes and make an offer.
Not to sound flip, but if you have to ask that about the landlord paying the utilities, how can you trust them on anything else regardless if in writing or not? Unless you have a bad sense from this landlord, I don't see why you should not trust they will honor this term. As long as you have it clearly spelled out in the lease agreement, you should be ok to proceed. If unsure, then I'd question having them as a landlord period. Tom Hinz www.shortsaletosell.com... more
Per the JC tax assessor, the basis or price would be the higher of the two. However, you could appeal your taxes if you think the original sale price was too high, and then if the Hudson County Board of Assessors agree, opt out of PILOT. Not always advisable, but an option.
20% deposit (by certified check) is required in a sheriff sale to be registered to bid at the court house. The remainder in cash equivalent becomes due in a short time, 10 days or so, unless you are willing to pay a steep interest. You must pay within 30 days either way.
That said, the sales in downtown JC that have actually been sold to a third party have been very low in the past 6 months (under 10 off the top of my head). Either they are mortgaged to the hilt, sometimes at full fair value, in which case, the bank repossesses it, or the owner is able to sell at peak prices and pay off the lender. The calendar is rife with reschedules, so it might take months for a target property to actually come to the table, and then be sold to a 3rd party.
Peak market cycle is not the time to be shopping for foreclosures.
If you are interested in investing, please give me a call. There are decent cap rate properties still around in DTJC, but more in JC Heights. If you are a qualified buyer, it would be my pleasure to help you. I hold a CFA charter, and I am certified foreclosure and short sale resource (SFR).
I am also happy to share with you the results of the last sale, so you get an idea.... more