Holed up in Hoboken

Our editor Brian Derr almost didn’t post — said he lived in Hoboken, NJ — as if that explained everything.  But Hoboken is hotter now than it was when Ol’ Blue Eyes was there.  Brian and his wife are onto a good thing: My wife and I bought our condo five years ago.  We live right on downtown Washington Street, which is the main street in Hoboken.  Basically, we’re very happy with it.  We have 1,100 square feet, 2 bedrooms, 1 bath, plus a den. We love our place, we love the neighborhood and hope to be there for a long time.  So, that said, the current situation in the real estate market doesn’t affect me one bit. We got in at a great time and have a 30 – year fixed mortgage at a pretty good rate of 5.25%.  Realistically speaking, we’re in our dream home. Sure, it would be nice to own a nice brownstone in New York City, but that’s not realistic for us. One thing I will say though, is that if we were purchasing our first home now, we’d never be able to afford the place we bought five years ago.