Blog, Hudson

Relocating to Hoboken NJ?

Attention all you Goldman Sachs employees and all other investment bankers getting a raise/bonus this year.  Hoboken is one of the most attractive urban cities in the country.  Seriously, it is.  According to CNNMoney, Hoboken ranks tops in places to live for singles.  That’s right boys and girls.  What better way to live than in one of the coolest, most affluent, and nightlife hopping areas in the country….surrounded by some of the hottest men and women on the planet.  Now is your chance to live single… or taken.  Hoboken has it all.

As many of you know, the first baseball game EVER was played in Hoboken at Elysian Park (10th & Hudson).  Frank Sinatra was born and raised in Hoboken. 

Most importantly, Hoboken offers an ultra urban atmosphere, yet just a Johnny Damon throw away from any street, bar, nightclub, salon, business, etc in New York City.  (For those of you who aren’t Yankee fans, Johnny Damon couldn’t hit sand if he was standing on a beach).  Real estate prices have been all over the map.  Once a very expensive place to live, prices in Hoboken have come down nearly 15% since the peak, creating a more affordable option than the past, and an even more significant affordability to New York City housing prices. 

Comprised of a small amount of single family homes and dominated by browstones, apartments, and condos, Hoboken is also attractive for small families.  Landscaped with beautiful parks, piers, and facilities, Hoboken is a great atmosphere to raise your children while getting them involved in every extra carricular activity known to America.

Is Hoboken real estate at the bottom?  Many say no.  I say “I don’t know.”  What I do know is this.  Mortgage rates are so low that if you buy now or wait 2 years, you may find yourself in a “wash” position.  You may find yourself paying less for a purchase in 2 years, but many expect interest rates to go higher by that time, increasing your monthly debt. 

If you are looking into Maxwell Place, the Hudson Tea Building, or other luxury condo buildings, don’t expect prices to drop THAT much more.  Most of the owners of these units have paid down a lot of the mortgage to give them the equity necessary in the event they need to bail, or some of them are employed executives that don’t pay too much attention to what we think, because they have more money than they know what to do with.  Point is, they are staying and waiting out the storm.

Hoboken NJ has plenty for one to do.  After work, you can unwind with a nice stress relieving walk along the Hudson River, or you can enjoy a martini at one of the many bars and lounges where people look forward to networking and hanging out with colleagues talking about the present days’ successes.  Hey…that’s Hoboken.  Hoboken is a very small town.  It is only a matter of time before you meet about 50% of the local population. 

So if you’re going to entertain the idea of relocating to Hoboken, look no further that New Jersey Real Estate Guys.  We have helped everyone from locals, investors, and celebrities.  We are Hoboken’s preferred realty service.  Looking forward to helping you pack!

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