Sunday, 19 February 2012

Jersey City's real-estate market is right up the urban dweller's alley

Looking for a cool condo, a stately Victorian, a spacious loft? Well look no further than Jersey City.

New Jersey's second-largest municipality has it all, including the featured spot today in The Record's real-estate section.

Six years ago, Brittin Bleakley walked into a friend's Jersey City home for a play date and fell in love with the place, according to The Record.

She adored the home's back yard, the original stained glass window, the finished basement and the size, four bedrooms.

"I said if you ever want to sell this house, I'm your gal," Bleakley told her friend, according to The Record. "It was a great house on a great street."

This past summer Bleakley, her husband, and their two young daughters moved into the Greenville home.
"She had done a lot of work on the house, it was move-in ready," said Bleakley, who paid $270,000 for the house. "It's wonderful. I'm so lucky."

As The Record story notes, those who believe all Jersey City has to offer are high-priced waterfront condos or boarded up buildings in crime-ridden neighborhoods are barking up the wrong real estate listings.

There's actually a myriad of styles of homes and neighborhoods for buyers to chose from. Besides the home in Greenville, The Record explores the Canco Loft condo complex near Journal Square, the Van Vorst Park and Hamilton Park neighborhoods, and speaks to a couple who purchased a two-family home in the Lincoln Park neighborhood.

There's also a some interesting stats in the story:

The average property tax bill is $6,491; 38 percent of Jersey City residents were born outside the U.S.; and out of 93,000 households, 34 percent make $35,000 or less a year in income and 36 percent make $75,000 or more a year.

As far as the housing stock goes, 45 percent of it is valued at $300,000 to $499,000, while 15 percent is valued at $500,000 or higher.

Source: http://www.nj.com/hudson/index.ssf/2012/02/jersey_citys_real-estate_marke.html

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