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General Area in 07302 : Real Estate Advice

  • All135
  • Local Info15
  • Home Buying72
  • Home Selling9
  • Market Conditions6

Activity 30
Sun Feb 24, 2013
Michael Personette answered:
Hi. My name michael personettw from grouptwentysix real eatate. we specialize in hudson county.
If you would like any help with a honest brokergive me a call at 201 848 2068
Or email me at MRP@grouptwentysix.com

I wi send you a list of everything available and give statitistic about the area.

Continued Succcess,

Michael
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Tue Jan 8, 2013
Debra (Debbie) Rose answered:
not sure why this is showing up as a question from NJ.....but..............I can offer a generic answer..........read your lease!!


Of course you have rights.

How are you being harrassed?
What is the problem with the manager?

You are obligated to follow the rules and regulations of the association, and obey any restrictions....hopefully, you were informed by the owenr as to what you can and cannot do.... but........more information on this might help you receive more specific answers.
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Sat Oct 13, 2012
Andrew Tisellano answered:
Montclair, Little Falls, Rutherford, Verona, Caldwells, Cedar Grove, Secaucus

You can also get a 3 bedroom for $1600 and put them in a private school.
0 votes 3 answers Share Flag
Mon Feb 11, 2013
Christopher Desmond answered:
Pls give me a call @ your earliest convenience. 732-996-0649.
0 votes 5 answers Share Flag
Sat Oct 13, 2012
Jose Martinez answered:
Call me I can help. Let Coldwell Banker Bring you home.




Jose Martinez
Coldwell Banker Home Loans Hoboken
201-94-1973
0 votes 1 answer Share Flag
Mon May 7, 2012
David Leonard answered:
You should put these questions to your realtor.

Should you not have one, please get one (not me - too busy already). You're entering dangerous waters and it should be handled by an experienced person. The risk is too high when you're buying thousands of dollars of something in a transacton you are unfamiliar with. It costs you nothing, and will likely keep you from getting taken advantage of. I usually put it to people this way: your boss at work wouldn't have you make such a large transaction on behalf of the company on a product and transaction you are so unfamilar with. It's too great a risk of company money. I advise you not to do it with your own money either. Find a realtor you like and proceed.

Best of luck in your search,

David Leonard
Weichert Realtors
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Sun Apr 22, 2012
Marie Sanderson asked:
The 3 family home is owner occupied at the moment, thus not needing a green card as I understand. I'm wondering what major improvements have to be made to obtain a green card from...
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Sun Apr 22, 2012
Tatiana Caicedo answered:
Hi

I went to view them last week.

Please call me to discuss.

Thank you

Tariana Caicedo
Liberty Realty LLC
786-859-6507
0 votes 4 answers Share Flag
Tue Jun 25, 2013
Walstmnky answered:
This is my personal opinion, and thus it might be biased, so take it with a grain of salt.

3. Phase 3, built in 2005, and most units sold at the TOP of the real estate bubble for outrageous prices. I am almost sure that EVERY unit in Phase 3 has been or will be foreclosed on, or short sold. Example, some of the nicer 2 bedrooms condo, high floor and or corner, in the cookie cutter 4 buildings (4 Conste, 15 / 30 Freedom, and 15 Enterprise), went as high as $700K in 2005 / 2006. Check out the county records.

Go here: http://tax1.co.monmouth.nj.us/cgi-bin/prc6.cgi?&ms_user=glou&passwd=data&srch_type=0&adv=0&out_type=0&district=0906

Choose "Multi-Line List Format", and one-by-one, type "15 Freedom", "30 Freedom", "4 Constellation", "15 Enterprise" in the location field, and search. Look at the prices, and the dates.


Also, significant number of the current "owners" are absent landlords. Some of them don't even live in the USA.

Phase 3 has what appears to be luxury appointments (granite in the kitchen, marble in the bathroom, stainless steel, hardwood). However, for this area (NY / Jersey Gold Coast), this is what I would call "apartment grade" luxury.

Walls are thin. Ceiling floors are also thin. 2 Bedrooms have little in the way of closet space or storage space. These are perfect for apartment living.

The townhomes in Phase 3 are a totally different story. They are large, well built and beautiful. About a year ago the prices bottomed, and several townhomes on Constitution, NOT direct waterfront, went for amazing prices. Like low $600s for 2100 SqFt 2 BR, 3Baths, or upper $600, lowr $700 for 2400 Sq Ft, 3 / 3s.

The big problem in Phase 3 is that too many are tenant-occupied, which means paying 0.25% or more additional for the mortgage, everything else being equal.

Phase 3 has been in existence for too short, and does not have capital reserve issues (yet). Also, Phase 3 is the farthest from water, and has no issue such as being built on a man-made island, flooding, etc. Phase 3 maitenance is relatively low. E.g., for a 2 bedroom In Phase 3, it is roughly $600-700 a month.

DO NOTE that about $300 out of that is paid to the umbrella HOA, so only about $300-400 goes too Phase 3 maintenance.

However, there might have been some small assessments for heavy snow removal, for Irene, and there might be some for Sandy. These are not really maintenance issues, but rather than emergency issues.

2. Phase 2. These are mostly townhomes, combination of waterfront or inland. Some of them have garage, some don't. I would say some of the layouts are questionable. E.g., close to 2000 SqFt, but living space does not seem that large.

You can have direct waterfront ones with very spacious and sunny layouts for low $700s.

The big problem for Phase 2 is on-going litigation, which means paying 0.25% or more additional for mortgage, everything else being equal.

Most of Phase 2 was built before / around 2000, so a lot of homeowners are not underwater, unless they bought around 2005/06 from the original owner.

Now, Phase 2 and 3 are managed by Signature Property Group, which also manages the umbrella Homeowners Association. I think SPG is OK. Not great, just OK.

3. Phase 1 is the oldest, and has the most interesting types of properties and the most diversity in terms of the types of properties. Developer took years to build out Phase 1, so some of the buildings were built in mid-80s, while some in early 90s.

Maintenance in Phase 1 is high, especially in the condos. The typical answer given to this is "Heat and some other utilities are included". Well, that's nice, but on an average annualized basis, that is worth about $75 / a month. How do you explain that a similar property in Phase 3 has $400 less in maintenance fees?

Well, I believe the answer is that about 10-15 years after the developer left, the management of the finances in Phase 1 fell into problems, that a lot of Condo Managements fall into. Typically, not enough is being collected in the first 10-15 years, resulting in low reserves and lack of capital projects.

So what happened is that in years (2009, 2010, 2011), there were special assessments, sometimes as high as the entire annual maintenance fee. E.g., there was a year in which special asessment for a typical unit was $5000-$10000. Consider that a typical unit in Phase 1 has about $1000 a month, out of which $300 goes to the Umbrella organization. Thus, annual regular maitenance going to Phase 1 is 12 x 700 = $8400. But you get hit with another $7000 as "special assessment".

Now, I believe this period of high assessments is past. However, the regular maintenance is somewhat elevated, because they have wisened up the increase in the regular maintenance is termed as "reserve fund / capital contribution".
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Tue Jul 5, 2011
Diane Maxon answered:
I am a realtor who has lived in Jersey City for 29 years and would be glad to help you with your search. Please feel free to contact me at 201-780-6594.
0 votes 2 answers Share Flag
Sun Jan 23, 2011
Debra (Debbie) Rose answered:
Natalia - while I don't live in jersey City, I do live in a town that was reassessed last year, and most of the towns in my area are currently being reassessed , or have been in the past couple of years. (not sure if this is a statewide process or not)

A company by the name of Appraisal Systems Inc. seems to be doing a lot of the townwide revaluations. Is that the company that is handling it for Jersey City?

If so, just know that the people who come out basically just look and fill out a form on their clipboards. As far as I could tell, they are not appraisers. Basically, they "look" and "list what they see".

Once you get the new written appraisal, you are offered an opportunity to make an appointment, and discuss the new assessment figure. The town's appraisals will be on a webisite so you can see everyone's appraisal for comparison.

Since the new appraisals are supposed to be "market value", any information the owner has that would dispute the company's findings can be used. I contested my appraisal, made an appoitment, and sat down to discuss my opinion that my assessment was too high - I had comps to support my case (as agents we certainly have an advantage in preparing the paperwork).
I ultimately got my assessment lowered by almost $10,000.

As far as overwriting any won tax appeals - well, I would asume the tax appeal reflects the true market value - in which case, I wouldln't worry about the new number, as that is also supposed to reflect the current market value.
It is what it is - dont try to avoid meeting with the representative from the company, or letting them in your home. - you are better off letting them in, and pointing out anything you think is pertinent to the value..or detracts from the value..

Good luck!
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Sun Jan 16, 2011
Debra asked:
I am a Property Manager and want to open up my own company
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Sat Oct 13, 2012
Walter Burns answered:
Lynn,

From my experience, street parking is not too bad in that area given that many of the homes in the Hamilton Park area are 1-2 family properties, thus lessening the potential amount of people with car.

I was in Hamilton Park last night and found parking rather easily at 8pm. That being said, I'm sure this situation can vary from time to time.

There are not too many parking garages in that area, so street parking may be your best and only option if you choose to move to the Hamilton Park area.

As far as commuting to Manhattan, you would either take the PATH from Newport or at Grove St. Both stops are about a 10-15 walk from the Hamilton Park area.

Please let me know if you h ave any additional questions. I'll be happy to assist.

Sincerely,

--
Walter J. Burns
Realtor-Associate
Weichert Realtors
Hoboken, NJ
201-653-8488 Ext: 230
201-694-8946 Mobile
walter@livingonthehudson.com
www.livingonthehudson.com
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Wed Jul 14, 2010
Eric J. Dilone answered:
Hi M.T. Are you buying a re-sale, or directly from the building? Let me know and I'll do a quick analysis for you.

Eric J.
0 votes 11 answers Share Flag
Tue Feb 9, 2010
Christopher Amberg answered:
I know several of the units currently on the market in this building are owned by the same person. I have a couple of clients who live there and are happy with the building... its a quick commute and some units have great views.

Hope this helps. Let me know if you have any other questions...

Best,

Chris Amberg
Weichert Realtors
Exchange Place Office
251 Washington Street
Jersey City, NJ 07302
Cell: 917-428-8317
Email: camberg@weichert.com
http://www.6thBoroughRealEstate.com
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Tue Jan 3, 2017
Walter Burns answered:
Most of the Jersey City buyers I work with usually consider looking in downtown Jersey City first before looking in Port Liberte. Since Port Liberte is a mostly a drive-in/drive -out community, buyers who do not own a car or don't want to use a car very often usually eliminate the community from their search.

The Grove St. area has become more and more popular in the past few years especially since Gulls Cove & Liberty Harbor was built. The one major advantage this area has over Port Liberte is that the PATH Train is within walking distance. Many buyers try to avoid a multi-fare commute, bus to path to subway, etc.

I know prices have come down in Port LIberte and there are some great deals right now. While we can't say exactly how much the condo will sell for in 3-4 years, many signs indicate that we are nearing the bottom of the real estate market, if not at the bottom. So buying low would be a good thing in this case.

In the end I suggest buying in a location which you like and makes you feel comfortable. In 3-4 years you will find a buyer who likes either area since properties are bought & sold all of the time in both locations.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
347-4-HUDSON Direct
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
www.livingonthehudson.com
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Thu Oct 15, 2009
Walter Burns answered:
Kingston,

I recommend contacting the Jersey City Police Department and they can provide you with a crime report for the area and answer an safety questions you may have. Here is a link to their website.

http://www.njjcpd.org/

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
347-4-HUDSON Direct
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
www.livingonthehudson.com
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Wed Jul 8, 2009
Fred Glick answered:
Dear Uhari,

You can do that, but you will have problems selling the units.

People need mortgages and the guidelines for something like this are harsh at this time.

You must sell at least 51% of the units, finish all the common areas and then have them put at least 20% down.

Depending on the unit prices, it would make sense to get the place Fannie, VA and FHA approved too.
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Tue May 26, 2009
John Sacktig answered:
Jersey City Rentals are like shooting fish in a bucket.. You should easily be able to get a great rental .. and I would venture to say that you could proably buy a short sale for $2000 per month..

it is investment time in Jersey City.. why rent when you could probably own?

Email or call - I can show you what is available.

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

JSacktig@orangekeyrealty.com
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Mon Apr 6, 2009
Andres Garcia answered:
My advise is to always walk, or drive, around the area at night and make your own decision. Everyone has a different idea of what a "good" area is. You can also call the local police precinct and ask them about problems in the area.

Overall though, as many parts of Jersey City are, that is a transitional area. You will notice abandoned building right next to beautifully restored building. With it's proximity to the PATH it's only a matter of time before all the buildings are restored. In fact, the school that you mentioned at 60 Erie is actually an apartment building that is being converted to condos. The building makes for some nice loft spaces with very high ceilings.

If you have any other questions please do not hesitate to contact me.

Andres Garcia
Sales Associate
RE/MAX Gold Coast Realty
56 Newark Street
Hoboken, NJ 07030
Direct: 201 795-5200 x340
Office: 201 795-0100
Fax: 201 795-1245
andres@milesquarerealty.com
http://www.milesquarerealty.com
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