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I'm not sure you'll ever see the runup in prices you saw in the recent past, but values have stabilized. The waterfront properties and those near Washington, should tend to appreciate/hold their value.
In my opinion the high property taxes in Hoboken still make it outrageous. And overall rent and buying of property there has more or less stabilized rather than go down in price.
I've seen data that may indicate that Hoboken has become more affordable.
Do you guys think Buying in Hoboken would be a good idea in this current market??
Do you think the values in Hoboken will eventually rise again? Because of proximty to the city??
What parts of Hoboken do you think will become the best Investment?
Any thoughts??
This all depends on your perspectives where you are at your life, what your situation is. If someone can actually forecast this accurately and it's correct...they wouldn't be telling you because they'd be out to make money for themselves.
Personally, I wouldn't buy in Hoboken because I can't imagine myself living there 10 years from now and I don't want to unload it or rent it out. Plus property tax is high but public education sucks so it defeats some purpose of paying high property tax. At the same time, I know of another couple who did buy in Hoboken because it was right time for them. Just got married, no plan for kids for next 5-6 years, both work in city, and want to get into landlord thing in several years from now.
In my opinion the high property taxes in Hoboken still make it outrageous. And overall rent and buying of property there has more or less stabilized rather than go down in price.
I agree with this. I say: Hoboken is a nice place to visit, but I wouldn't want to live there.
Much of the infrastructure in Hoboken is very old and hasn't been maintained. There have been several water main breaks and road collapses during the past two years. The roads which haven't collapsed usually have horrendous potholes. The storm drain system also has not been updated despite excessive redevelopment over the past forty years. A major collapse of Frank Sinatra Drive at 12th St. is presently being repaired by Hudson County. Much of the rest of the waterfront is in danger of collapsing into the Hudson River.
If you still want to move there, you probably want to sell your car because finding parking is near impossible and paying a garage may cost you more than a months' worth of tickets generated by illegally parking.
The high taxes and inefficient and oftentimes corrupt city government add to the ominous atmosphere over there.
city infrastructure is ancient. buildings were thrown up with cheap materials and built cheaply. the city is a financial mess, and is quite corrupt. i loved my time there as a renter, but i wouldn't be putting money into that town and expecting any type of "investment" returns. if you want to live there and can afford to, by all means...awesome town. but don't look at it as an investment. the people i know that own there that are 2nd owners of 10-15 year old buildings are having maintenance costs on EVERYTHING because the buildings are not very structurally sound. deals fall through at inspection regularly. a couple i know just gave up trying to buy in hoboken after their 4th offer fell through at inspection.
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