Category: specificLoc

##FAST risks

Posted on by tiger40490
  • Risk of forgetting hard token when needed for large transfer or new payee .. transfer impossible
  • risk of “soft token not activated” .. transfer impossible
  • risk of forgetting the cooling period .. transfer impossible
  • risk of hitting daily limit .. frequent
  • risk of suspension like SCB

[20]stay rented forever]Jersey City #livelihood

Posted on by tiger40490

JC offers plenty of contract jobs + acceptable housing choices. I heard that most parts of JC is not as expensive as waterfront districts (resembles Central Park districts conceptually). I lived in Grove St area for a while. I know Bayonne better:) I cycled through many parts of JC/Bayonne several times.

Good Connectivity (PATH) to top 3 contract job hubs — Midtown + Downtown + JC

School district? I think there is a small part in JC with a good school district. The area is likely too expensive to buy and featuring very poor rental yield. Therefore renting is better than owning.

— livelihood (burn rate + commute tCost)
If rental too high, then consider a smaller, older home further away from waterfront, or Bayonne. They are presumably unpopular among the affluent families or couples. For this reason, affordability is hopefully better.

With car cost savings and time saved on commute, my livelihood pressure could be greatly relieved. After we experience it for a few years, I might want to rent a bigger home, thanks to flexibility of renting.

Bayonne valuation relative to JC #Brian

Posted on by tiger40490

Spoke to Tricia, a JC/Bayonne mortgage consultant and former realtor.

Tricia (immediately, unconditionally) agrees with Brian’s view that most locations in the U.S. have no long-term appreciation but Jersey City is one of the exceptions.

She bought in Bergen-Lafayette long ago. Bergen-Lafayette has risen only since 2013, driving many people out to more affordable locations like Bayonne.

She said Bayonne has risen too, but no big hurry to buy. I felt reassured.

She singled out one defining moment — 2008 most U.S. residential markets declined by 20% but only 9% in NYC/JC, thanks to the special “status”.

She stressed repeatedly “It depends on the property” (she didn’t say “location” !)

I asked why Bayonne psf is so much cheaper than JC. She gave 3 reasons:

  • Bayonne is more “residential” with less attractive connectivity like light rail
    • I think the “urban” of JC is demarcated by connectivity features like subway
  • Property tax
  • flooding — I guess it’s perception, reputation and risk

I felt reassured that Bayonne “suffers” from those unfavorable perceptions, which will keep appreciation in check.

Bayonne-to-1585 Broadway commute

Posted on by tiger40490
  • Route (shortest winter walk): light rail to Exch -> WTC -> subway #1 or #NRW (both frequent and both with seat).
    • 🙂 5 times it took me 50 min from boarding HBLR to hitting 49-St station.
    • 🙂 stand for 3 min only XP->WTC
    • 🙂 more frequent trains at ExchangePlace
    • 8:46am light rail. Hit 49th St @9.27am
  • Route (fastest): light rail to Grove -> either WTC or 33rd -> subway.
    • Route (cheaper): light rail to Grove/NP -> 33rd -> citibike
    • 🙁 long-standing
  • Route (cheaper + seat): light rail to Hob -> 33rd -> citibike or subway
  • about 45 – 60 min to office. Train movement time is 20 + 14 min ~= 35 minutes… but there are multiple risks:
    • risk — missing a train
    • risk — train slower by more than 2 minutes
  • 8.25 tram – 9.10 via NP. No wait for PATH or citi bike
  • 8.06 tram – 8.56 via Grove.
  • 8.04 tram – 8.53 via NP without wait
  • 8.25 tram – 9.15 via NP
  • 8.25 tram – 9.10 via NP

http://www.njtransit.com/sf/sf_servlet.srv?hdnPageAction=LightRailTo has more printable schedule but doesn’t show weekend advisories.

Another guy told me Weehawken is more expensive even on the hills, but I believe there are cheaper rooms.

Bayonne housing: supply/demand

Posted on by tiger40490
  • No crazy Chinese demand. The school district is a turnoff for the Chinese middle-class
  • too many “better” choices nearby such as
    • Journey square — better commute
    • Queens and JC — higher Chinese concentration and closer
    • Weehawken – closer to mid-town
    • long island
    • Brooklyn Chinese community
    • many parts of NJ are popular among Indians and Chinese immigrants
  • I guess the young professionals prefer Manhattan, Brooklyn, Weehauken etc
  • I guess the middle class families prefer Queens, NJ etc
  • I feel Bayonne is more popular with Egyptian, Filipino … immigrants and other immigrants drawn to the low cost housing

4 reasons I FEEL better@42St>JulietteSt

Posted on by tiger40490

–Introspection …

  • #1 morning real stress — based on anticipation of longer, stressful bike journey to catch train.
    • the morning commute time is usually lost, though I could bring a laptop or reading… 8th street has fewer trains and 6 minutes longer commute
  • #2 Not so isolated, not so quiet — banks; Chinese+fast food restaurants; Chinese supermarket
    • big drugstores+supermarkets like — C-town, QuickChek, RiteAid, Walgreen, ShopRite, 7-eleven,
  • #3 walkable, car-free. More specifically, gym, big stores within walking distance
  • #4 big park and clean streets around
  • # streets are slightly cleaner and lively with shoppers
  • —-remaining pains due to Bayonne location:
  • commute still too long, often without seat. Light rail is less frequent than other trains, and slower.
  • Chinese
  • shopping still limited. Walmart is nice but not so accessible.

Loc: JSQ

Posted on by tiger40490

To my surprise, a few Chinese/Indian colleagues suggested JSQ for my family.

  • 🙂 commute much better than Bayonne. Frequency and travel time is much better.
  • 🙂 probably as convenient as Bayonne Broadway
  • 🙂 more Asians
  • 🙁 fewer parks
  • clean street? I hope some neighborhoods are clean, esp. if you drive out a few minutes.

389 Washington St^43R

Posted on by tiger40490

As of Sep 2019 Jersey City high-rise 2BR rent is at least 3700/M. Chris Ma felt single family 2-kids living in this part of JC is tough.

As of Jun 2018, 2BR is worth mostly likely $1M or higher.

  • +$3700 rent income … below 4% gross rental yield only, but partly due to the 1.67% low tax
  • -$1400 tax if you buy now. (Chris Ma bought a 2BR in 389 Washington S in 2008 so his tax is $1100 only.)
  • -$900 HOA
  • —–
  • = $1400 net income ~ 1.4% rental yield excluding mortgage maintenance and vacancy

Note this location is for the top-rated PS16 school district, so price is higher.

In June 2018, a 756 sqf 1BR is asking $700k. The original price was $500k in 2008..

In contrast, 43 Rockledge hotel model monthly rent is 4 times Chris’s case. You can’t divide a $1M unit into 20 rooms and rent out for $750 each

##[18] loc preferences: 1st buy]Bayonne

Posted on by tiger40490

Tentative choice #1: along 45th st between Broadway and the park

Tentative Choice #2: close to PS14, 22nd st and Broadway

— #1) commute to downtown or midtown, or JC

Important as it directly /eat into/ my precious time for rest, blogging (reflection, study) and family incl. phone calls to grandparents…

How about exercise time? See time saved from commute ⇏ more exercise

— #2) well-maintained streets
It has a real impact on our sense of safety, impoverishment, life-chances.
In most district of Bayonne, there are relatively clean sections.
Clean street is more important than parks.
— parks for kids, exercise
xp: I lived in 45 Juliette for a month but didn’t have a real need to use the park. However, I tend to feel “rich” living close to a big nice park.
Grove St area has very few parks and very small, but I felt good.
— everyday shopping
drive? Yes I believe most Bayonne residents drive for everyday shopping, unless their home is really close to a major shopping district.Weekly grocery can drive for sure.
— school district
Will rent a place nearby