House of the Day: 430 10th Street Revisited
This house at 430 10th Street has been on the market for-effing-ever. After selling for $1,200,000 in 2005, the new owners started out trying to get $1,865,000 last year. By August of this year, the ask was down to $1,650,000 and in September it was reduced further to $1,595,000. Since the broker doesn’t even have…
This house at 430 10th Street has been on the market for-effing-ever. After selling for $1,200,000 in 2005, the new owners started out trying to get $1,865,000 last year. By August of this year, the ask was down to $1,650,000 and in September it was reduced further to $1,595,000. Since the broker doesn’t even have his own website and only tiny photos are available on StreetEasy, it would be interesting to hear from someone who’s actually seen the interiors.
430 10th Street [Timothy Norton] GMAP P*Shark
House of the Day: 430 10th Street [Brownstoner]
Hoboken is great. Congrats
Miss Muffet, what are you doing about schools for your kids?
Thanks TL…
Italian pasteries and deli meats is one cultural upside for Hoboken, no doubt.
There’s a Portuguese Piri Piri place that just opened there, which feels like a cultural awakening for the nabe, so I’ll cross my fingers.
I don’t know, MFN. What wasder said: Are you sure you’re getting value? You’re only paying -26% off that peak comp. Pretty consistent with where we are in Brooklyn. What can the listing rent for? What’s the median/average household income? I can save 50% of a Benz’s purchase price by buying a Toyota but I would still get less than what I paid at resale. Are you sure that Hoboken is the same as saving several hundred thousand?
HOBOKENROCKS!!! What think you?
If the facade looks narrower and narrower each time you visit it, “pull the emergency break”. Don’t forget that the rental market is still tanking. Higher rates are not a buyer’s problem (price automatically corrects). Don’t settle.
But congrats and good luck on a new home if you decide to strike. Patience aint for everybody.
***Bid half off peak comps***
Congrats MFN! The best news is you’ll be close to Carlos bakery so pick me up some cannoli please (Says the girl who finally left rental Brooklyn to own in J.C.).
MFN–sounds great. In no way was I questioning your judgement. Just curious. And I think you articulated well the issues of waiting for prices to drop. If you have kids, who can wait 5-7 years. That is essentially the same choice I faced last year. I found a house that was well off its original ask, in a similar ball park to yours, and went for it (to many people’s derision). So good luck to you. It sounds like a nice house and that loan sounds great. Monthly nut pretty damn manageable all things considered.
Hoboken is OK, but if you were willing to go a little further into the mainland you could have gotten even better deals on houses with land, in better school districts. New Jersey is a relative bargain and though the R.E. taxes are high you don’t have to pay NYS and NYC income taxes which are just brutal.
“public schools in new jersey are GREAT and GOOD even in the hardcore ghettoes because in NJ property tax is evaluated fairly”
ROB, unfortunately, in Hoboken, that’s not the case, they’re pretty bad (or typically have been). But there are 2 charters.
That’s one of the drags of Hoboken, you get socked w/ NJ property taxes, but the municipality doesn’t have the same quality the awful suburbs have.
Just another trade off.
MFN, what are you doing about schools for your daughter? Are you sending your daughter to private school?
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Ultimately, I think so, but here’s the details:
Related to this, more on the value: Hoboken has state funded free preschool. My daughter starts pre-school next fall. So 3 years of saving about $10-15K a year (post tax). I’ll take that every day of the week.
The deal w/ Hoboken schools is that until about 3rd or 4th grade, they’re pretty good actually. Then people historically have moved out.
But I think possibly you’re going to see many of the recent parents there stay for many reasons, so we’ll see.
There are 2 charter schools. Not a ton of seats, but you can get in, and if you do, you’re golden.
The income tax I’m saving will pay for much of the school, if not all, anyway. And honestly, unless you get a prime school district, which means REALLY paying up the nose in Brooklyn, you’re likely looking at private school anyway.
ROB, not ashamed of the ‘boken. Originally from Fort Lee and Edgewater as a kid. It’s just not nearly as interesting culturally as Brooklyn. But it’s very family friendly and has a nice walking vibe.