In most cases any new development in the Downtown Jersey City area should only help to increase the property values in the area.
Currently the market absortion in the area is showing that the Downtown area is becoming a sellers market and properly priced condos are selling very quickly and some with multiple offers. Values are starting to increase off their lows. If you have owned for a while, and didn't buy at the highs now is a great time to list your property.
Also most of the new construction planned for the area is Rental and not Condo. This is good for condo owners as the demand for their condos should continue to grow and should help to rais prices.
For your specific property it depends on where your condo is located in the building. One thing in real estate is never to promise a specific view to someone unless you are 1000% sure nothing will be built infront of that view in the future.... more
I am making offers right now. I think in the downtown area of Jersey City and in Hoboken we are past the bottom of the market. Already we see multiple offers and shorter time on market. Interest rates are still very low and prices are still very reasonable. I do believe that we are moving in the direction of a seller's market in prime locations. Hope that helps you in your decision making process! Good luck!... more
if you work positively in concert with your real estate agent I am assured you will have solutions to all of your questions resolved. Good luck http://www.lynn911.com http://www.homes-for-sale-dallas.com... more
There are different variables. Every building has a different $ per sq.ft. and within the building. Is it a For Sale by Owner, listed with an office? Different side of the building...many times there's a difference $ per sq.ft. If there is vacant land infront of the balcony, find out what building, how tall. Amongs other variables. (A Realtor should give you this information).... more
Yes Yes Yes....to Powerhouse Arts District. It is better than Exchange Place. The PAD has just started undergoing development and this is the time to buy. I found a great unit in Waldo Lofts that I am thinking about making an offer on and I have searched all of downtown Jersey City. This seems to be the best value for what I am actually getting in square footage and future appreciation value. It's right next to the Grove St Path and all the restaurants and the Hudson River (I like to walk along the water). I really feel this is the time to get in before the actual new construction buildings go up and hot retail space moves in.... more