Real Estate

Why Landlords are Selling in Downtown Jersey City

To understand why landlords are selling in downtown Jersey City, I turned to the MLS database.  I’ve always been comfortable with numbers and analyzing data.  By looking at the data, you can often spot trends that help anticipate what may happen in the future.  Although no one can predict the future, several months ago I […]

Dwell JC | Jun 21, 2018

Mortgage Rates Resume Upward Trend

This week mortgage rates resumed their upward trend, which is reported to be the most prolonged increase in 46 years.  According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to its second-highest level this year, rising to 4.62 percent with an average 0.4 point. It was 4.54 percent a […]

Dwell JC | Jun 15, 2018

Reval Survey Results are in!

Here are the reval survey results recently conducted by DwellJC.com over a ten-day period.  The survey reached 1155 property owners in Downtown Jersey City.  Of the 1155 that were sent the survey, 49 read it and 15 completed it.  The survey asked if the reval resulted in a property tax increase and, if so, the […]

Dwell JC | May 18, 2018

Location and Price Make this Newly Listed, 3-Family Townhouse a Hot Property

Everyone knows that location is a driving factor in the real estate market, and it’s just one reason why this townhouse located at 244½ First Street in Downtown Jersey City is an amazing opportunity. Just blocks from the Grove Street Station, this three-family brownstone an amazing investment opportunity. But let’s start with the location because it […]

Dwell JC | May 17, 2018

Downtown Jersey City – Q1 2018 Market Report

In Q1 2018, a four-family home on Mercer Street in downtown Jersey City sold for $1,937,500, which is just below the record high set last year of $2,270,000.  This quarter’s record sale was approximately 14% below asking, which compares unfavorably to last year’s record sale which sold for just 3.4% below asking.  On average, the […]

Dwell JC | Apr 29, 2018

Thinking of Selling in Downtown JC?

With so many folks talking about selling their homes in downtown Jersey City, I decided to share some of my recent experiences with clients preparing to sell.  As I previously reported, homeowners in downtown Jersey City have been among the hardest hit by the property tax revaluation with the annual taxes on many homes more […]

Dwell JC | Mar 30, 2018

Downtown Listings Surge since Revaluation

Downtown listings have surged since homeowners began receiving their reval letters last month.  Although it was not one of the steps outlined by Ward E Councilman, James Solomon, when he presented information about the revaluation throughout Ward E, clearly one of the options is for a homeowner to simply SELL their home. As I previously […]

Dwell JC | Mar 16, 2018

The Print House – Sustainable Condos in the Heights

The Print House in the Heights is among the new wave of environmentally sustainable condominium developments underway in Jersey City.  According to the developer, Tom Chartier, “We’re building sustainable communities one building at a time.” The Chartier Redevelopment Group has indicated that they will be pursuing LEED certification for this project, which should be completed in […]

Dwell JC | Sep 25, 2017

Home Mortgage Rates Just Hit a 1-Year Low!

30-year home mortgage rates have dipped to 3.86 percent, which is its lowest level since last November.  According to AP, “concern over a slowdown in inflation has recently pushed bond prices higher — and some bond yields sharply lower. Record-low interest rates have helped spur home buying and boosted the housing market. Yet despite low […]

Dwell JC | Sep 11, 2017

Record Breaking Home Sales in Jersey City!

Limited inventory of historic homes in Jersey City has created an extremely competitive, sellers’ market. Homes not only sold for record prices this summer but those that did so, sold in just days as opposed to weeks or months. Investing in downtown Jersey City was a wise choice for those who saw Jersey City becoming one […]

Tom Gibbons | Aug 29, 2017