Price Of your house the last 10 years in NJ

[LiberalDonaldTrump]

https://www.nj.com/news/index.ssf/2018/09/home_values_in_new_jersey.html

[paladin4ever]

Nice! Having a house in Bergen County is money in the bank. Our proximity to NYC, great schools and easy commuting options make it ideal. The old real estate rule of thumb definitely applies...Location, location, location!

[Hardcore Troubador]

22 minutes ago, paladin4ever said:

Nice! Having a house in Bergen County is money in the bank. Our proximity to NYC, great schools and easy commuting options make it ideal. The old real estate rule of thumb definitely applies...Location, location, location!

Agreed.  The only place I’d rather own from an investment perspective in NJ right now is Jersey City.  Schools suck there except for McNair, but prices have nowhere to go but up.

[DBP66]

..almost as nice as living in Orange County N.Y....😉.

[Nolebull813]

Man for that money you could get a house in Florida with a helicopter pad, grotto, 50 acres and 2 lions. 

And still be able to buy a $200,000 Rolls Royce 

[DBP66]

9 minutes ago, Sportsnut said:

500,000 for the same square footage as a house for 180,000 in Georgia.

Brilliant !!!

it's all about being close to NYC...the post says 80% of his clients work in NYC (N.J. people are wanna-be N.Yer's...😉)......Bergen is close but it comes with a price too...very overpopulated...little to no open spaces...and a lot of traffic...Long Island is close and the same prices but the same story...

[LiberalDonaldTrump]

1 minute ago, Nolebull813 said:

Man for that money you could get a house in Florida with a helicopter pad, grotto, 50 acres and 2 lions. 

And still be able to buy a $200,000 Rolls Royce 

It’s to the point people like me only reason live in the county is cause we got grandfathered in like 60 years ago only wall streets can afford to purchase a house in 2018

[LiberalDonaldTrump]

1 minute ago, DBP66 said:

it's all about being close to NYC...the post says 80% of his clients work in NYC (N.J. people are wanna-be N.Yer's...😉)......Bergen is close but it comes with a price too...very overpopulated...little to no open spaces...and a lot of traffic...Long Island is close and the same prices but the same story...

I wonder if that’s why hunterdon county is getting expensive.. u get a lot more land 

[DBP66]

1 minute ago, LiberalDonaldTrump said:

I wonder if that’s why hunterdon county is getting expensive.. u get a lot more land 

not familiar with the county but it makes sense...I live in Orange county and it's getting expensive now too...Steward airport went international..the Woodbury Commons brings a steady flow in daily...and they are building the biggest Lego Land in America in Goshen and a Great Wolf Lodge in Chester the near future...that's going to increase property values all around the areas...😉

[BigDrop]

We paid off our house in Reston, VA in 2006. It is worth slightly less today than ten years ago.  That’s dead money.  Not one cent of appreciation or interest on $500,000.  @4% annual interest (approximately what my investments average-I am retired) it should be over $700,000.

Dead money and little hope with a 10k limit on mortgage deductions and rising interest rates that there will be much appreciation going forward.

[Hardcore Troubador]

10 minutes ago, BigDrop said:

We paid off our house in Reston, VA in 2006. It is worth slightly less today than ten years ago.  That’s dead money.  Not one cent of appreciation or interest on $500,000.  @4% annual interest (approximately what my investments average-I am retired) it should be over $700,000.

Dead money and little hope with a 10k limit on mortgage deductions and rising interest rates that there will be much appreciation going forward.

Was the Silver Line extended out as far as Reston?

[LiberalDonaldTrump]

1 minute ago, Sportsnut said:

If you could get a house with the same square footage and land for a much smaller cost, would that be optimum?

Or do you call those with the same as you but paid much less poor? Not trying to argue with you but to make a point about cost of living.

The differences of the cost of living makes a great difference in saving, taxes and general overall satisfaction.

Georgia vs. Jersey/ New York.

500,000 in Georgia can get you 45 acres with a lake and have money left over.

You can not enjoy your life with The Thunderstorms everyday and the humidity 

 

 

there is a reason people pay extra not to live in Georgia 

 

 

 

You think we like spending so much money... no but it’s sure as hell worth it

[BigDrop]

20 minutes ago, Hardcore Troubador said:

Was the Silver Line extended out as far as Reston?

Yes, explosive growth and over 4,000 rental apartments recently opened or under construction.  Tyson’s has most growth of anywhere in America seven miles away.

[BigDrop]

24 minutes ago, Sportsnut said:

If you could get a house with the same square footage and land for a much smaller cost, would that be optimum?

Or do you call those with the same as you but paid much less poor? Not trying to argue with you but to make a point about cost of living.

The differences of the cost of living makes a great difference in saving, taxes and general overall satisfaction.

Georgia vs. Jersey/ New York.

500,000 in Georgia can get you 45 acres with a lake and have money left over.

My wife and I were both born in DC and this is our home.  We also love the DC area from the Blueridge mountains to the ocean.  We once considered Sarasota or Clearwater Beach but decided to stay here.

Explosive growth but there is no longer belief that there will be the kind of appreciation experienced in the past.  Result is that most now rent.  10k limit on deductions is huge.

Fairfax county has one of the highest family income Levels in the U. S. but this is misleading because of the cost of living.

[Hardcore Troubador]

15 hours ago, BigDrop said:

Yes, explosive growth and over 4,000 rental apartments recently opened or under construction.  Tyson’s has most growth of anywhere in America seven miles away.

 

15 hours ago, BigDrop said:

My wife and I were both born in DC and this is our home.  We also love the DC area from the Blueridge mountains to the ocean.  We once considered Sarasota or Clearwater Beach but decided to stay here.

Explosive growth but there is no longer belief that there will be the kind of appreciation experienced in the past.  Result is that most now rent.  10k limit on deductions is huge.

Fairfax county has one of the highest family income Levels in the U. S. but this is misleading because of the cost of living.

I spent a decent amount of time down there in my 20s for grad school and internships/work.  IMHO best city in America for young professionals.  Blows NYC away.  If the chance to move there for a good paying job ever opens up the wife and I are gonna have to seriously talk about moving with the baby.

[ohio]

5 hours ago, BigDrop said:

We paid off our house in Reston, VA in 2006. It is worth slightly less today than ten years ago.  That’s dead money.  Not one cent of appreciation or interest on $500,000.  @4% annual interest (approximately what my investments average-I am retired) it should be over $700,000.

Dead money and little hope with a 10k limit on mortgage deductions and rising interest rates that there will be much appreciation going forward.

I'm surprised to hear that.  Always assumed that housing prices were increasing in your neck of the woods. 

 

[BigDrop]

3 hours ago, Hardcore Troubador said:

 

I spent a decent amount of time down there in my 20s for grad school and internships/work.  IMHO best city in America for young professionals.  Blows NYC away.  If the chance to move there for a good paying job ever opens up the wife and I are gonna have to seriously talk about loving with the baby.

I have a sincere bias because I was born here but I agree with you. DC is also very European which for me is a plus.

[BigDrop]

3 hours ago, ohio said:

I'm surprised to hear that.  Always assumed that housing prices were increasing in your neck of the woods. 

 

Inside the beltway yes-people still believe there is room for appreciation; outside they have gone down.  But consider a $500,000 mortgage which @4.5% is about $2,500 a month plus real estate tax ($6,000) and property ins. (1200+) for a total $3100 a month.  About 85-90% of the mortgage and tax is deductible which is $2700 x 12 = $32,400.  Deductions are now limited to $10,000 which means $22,400 CANNOT BE DEDUCTED.  @25% new tax bracket + 8% local/state tax about $7,500 net is LOST.