Dave

Zach - once again you are false. First, if it is as easy to refinance interest rates as you say, then why is it a big deal when ARM's near the end of their term? Why doesn't everyone just use ARM's? Interest rates are extremely important and should definitely factor into the decision...maybe not as much as the purchase price (yes, Zach was somewhat correct on that) but definitely important to the decision. - Mon Jun 23 2008, 14:10

Zach, thank you once again for providing absolutely no insight. Its pretty interesting the connection between intelligence and those people that say they want to be "filty rich" and retire early. You probably won't get this post, but oh well... - Mon Jun 23 2008, 14:05

Zach...it all depends. I view my home ownership as part of my entire investment portfolio. I am fairly confident in steady appreciation over the long-term, so I view my house as the "conservative" piece of my portfolio. This allows me to be more aggressive with my other investments (as opposed to having bonds or MMA's for that part of my investments.)

Also, my American Dream is somewhat different than you...I have no desire to retire by 40. In fact, I would go absolutely crazy if I did. So, I don't need to be so aggressive with all my investments. My American Dream is to be extremely comfortable (which by my standards is a Porche, nice house, and can travel 2-3 times a year in luxury.) - Mon Jun 23 2008, 08:22

Its all about what you prioritize...I have several friends that live in SW Hoboken and so I have visited the area MANY times after it has rained. Yes it is an issue there, but 1) it is very different street by street - you cannot say make a blanket statement about SW flooding issues. And 2) I, and many other people, would gladly trade in the flooding every one in a while to get away from the frat boys who make other parts of Hoboken noisy and crazy EVERY weekend.

It is a pretty simple equation - would you rather have a nicer, larger place that a couple times a year has flooding on the streets and it a 10-15 minute walk from the PATH for less/sq ft. vs a smaller, more expensive place (that is probably not as nice), but is 5-10 min from the PATH, restaurants, etc. and is more crowded, busier, noisier, etc.? For me, its a simply choice. I've done the walk MANY, MANY times from my friends' places and it literally is an extra 5 minutes - I repeat an extra 5 minutes - from many of the same places R/E agents say is so much better. However, the units are infinitely better and less expensive.

Lori feeds into my point exactly - people have that "flooding" or "its too far away" mentality built into the prices in SW Hoboken. That is why it has so much more room for improvement than other parts of the city. Just look at all the new places that are being built there...as more money "floods" into the area, its only a matter of time until much of the stigma, as well as the flooding issue is corrected. You have to have vision. - Mon Jun 16 2008, 11:24

I think the SW area has probably the most growth potential of all of Hoboken. Yes, Lori is correct that people want to be near the PATH, shops, etc. However, a large amount of people also want to be away from the bar, "frat" boy, and have easy access by car. This is why I think the SW part has the most opportunity...only a 10-12 minute walk to the PATH, away from the bars, and most importantly, has a negative reputation (which I believe is very undeserved.) That is why you'll get places cheaper there...because the "negative" price is built in. Look at all the new places being built there - Observer Lofts, Khoda Flats, Vesta, etc...all really better quality than just about anything else being built in Hoboken (and that includes Maxwell Place, which I've looked at). Plus, you also cater to the people that need a car and need easy access in/out of Hoboken for work (yes there are more of those people than you think.)

Plus, and this is definitely speculative, but there is a fairly good chance a park will be built down there...if you get in at "pre-park prices" your investment will increase greater than anything else you can purchase in Hoboken. Of course nothing is a given, but I think in a few years, SW Hoboken will see the most improvement of any area. - Sun Jun 15 2008, 18:48

Hi Lina -

I think the area is good. It really depends on what you are looking for. Its relatively quite and safe, but its going to be a little walk to the PATH or restaurants. Personally, I like being a little off of Washington, but I don't mind walking an extra 5-10 minutes.

As far as the price, this really depends on the unit - what is the size? what are the amenities? how are the appliances? how new is it? does it have parking? These are just some of the questions that would effect the price. There are definitely units MUCH more expensive than 380K there, but it really depends on the specifics. - Fri Apr 18 2008, 07:51