|
|
#11
09-20-2005, 10:07 AM
|
|||
|
|||
Re: Buying a Condo?
at what point does a condo deteriorate and become worthless?with a house you have the land, and can rebuild. a condo has nothing.
|
|
#12
09-21-2005, 12:23 AM
|
|||
|
|||
|
Re: Buying a Condo?
[ QUOTE ]
I think for long term appreciation Elizabeth is just too industrial. Those are incentives to save a dying town like Camden, NJ and they don't always work. I would look at some of the tougher neighborhoods in JC (maybe around Journal Square) that will see upward pressure. Also, I would look at the established working class communities like Weehawken, Secaucus and Lyndhurst before I invested in Elizabeth. [/ QUOTE ] JC is already over priced it is in the neighborhood of 300K plus for a condo 1bd elizabeth has appreciated 27% over these past 5 years which is higher than the national average of 20%. However i am still looking around. web page
|
|
#13
09-21-2005, 09:55 AM
|
|||
|
|||
|
Re: Buying a Condo?
[ QUOTE ]
Here is deal. I been searching for some real estate. I found a 2 bedroom 2 bath Condo. 23 minutes from NYC. The positvies it is close to NYC 10 minutes from the train 3 minutes from the center of town. Also the state has granted a huge amount of money to build 22 new schools and lowered the tax to business to build the area. My questing is. Is it worth buying a condo in a good area of an up and coming town. Keep in mind that Condos are very common investment in the NYC area [/ QUOTE ] no offense but live where youll be most happy instead of trying to save a buck or make a buck.
|
|
#14
09-21-2005, 08:24 PM
|
|||
|
|||
|
Re: Buying a Condo?
[ QUOTE ]
[ QUOTE ] Here is deal. I been searching for some real estate. I found a 2 bedroom 2 bath Condo. 23 minutes from NYC. The positvies it is close to NYC 10 minutes from the train 3 minutes from the center of town. Also the state has granted a huge amount of money to build 22 new schools and lowered the tax to business to build the area. My questing is. Is it worth buying a condo in a good area of an up and coming town. Keep in mind that Condos are very common investment in the NYC area [/ QUOTE ] no offense but live where youll be most happy instead of trying to save a buck or make a buck. [/ QUOTE ] No offense but this is clearly shortsighted view. If you want to make money long turn a mortgage backed asset will have to be in your portfolio. Perhaps im too money hungry.
|
|
#15
09-21-2005, 08:28 PM
|
|||
|
|||
|
Re: Buying a Condo?
[ QUOTE ]
at what point does a condo deteriorate and become worthless?with a house you have the land, and can rebuild. a condo has nothing. [/ QUOTE ] in this situation at least 80+ Years. essentially id be buying a 2bdr 2 bth apartment in a brand new building. So as long as the building lives. So the question is how long does hte building live, my best guess is 100+ but somwhere along the way updates will be needed,
|
|
#17
09-23-2005, 10:52 PM
|
|||
|
|||
|
Re: Buying a Condo?
[ QUOTE ]
When did finding an area you like and making a sound investment become mutually exclusive goals? On another note Elizabeth is not that nice a town. [/ QUOTE ] clearly it is not. But there is huge upside based on sheer proximity. JC was not a nice town 15 years ago. But people with stones invested and it blossomed.
|
 |
|
|
Linear Mode
