Which is the Best School in Hoboken or Jersey City ?

Only yesterday, someone I met for the first time, asked me "Which one is the best school in Jersey City?" As a Realtor, I am often asked which is the best school in Hoboken (where I have lived for almost 8 years), or Jersey City (where I have lived for a couple of years and where my kids now go to school). While I sure have my favorites, I believe choosing the right school for your child is a very personal decision. Ask me, or your friends and neighbors, and you will likely receive overwhelmingly positive feedback on their children’s school. In reality, there is no “best school in town,” only one that is the best fit for your child and your family.

Even though the school year starts after Labor Day, Open Houses for various schools start in the previous Fall. Plan to attend an All Schools Open House, such as the ones sponsored by Hoboken Family Alliance (HFA) or now Newport Mommy, which several schools in the area attend. Most schools also have open houses in their campus through late winter or even early spring.

When you are choosing a school for your child, identifying your priorities will help narrow down the field. So focus on what you really want and what would be a deal-breaker. Keep in mind, many private schools in the Jersey City/Hoboken area have two to three times more applicants than spots, so if you want to go only the private route, you should plan on applying to multiple schools.

• How many hours of school is ideal for your child? School day for the public preschool is six hours long (mandated by DoE). However, some private schools typically have a half day program (about 3 hours) for the younger grades.
• Can you afford private school tuition? Annual tuitions for private schools in the area can be upwards of $7,000-9,000 for half day programs (Montessori schools cost up to $10,000) and $13,000-15,000 for full day programs (close to $20,000 for a Montessori). Some financial aid and scholarships may be available. You should prioritize saving for your own retirement, your children’s college education, etc. above private preschool and elementary school.
• Is proximity to your home important? For example, if you live downtown and take the PATH to work, but the school is in Newport, you may add up to 30 minutes to your commute. The public program cannot guarantee placement in your preferred choice of school.
• How many hours of after school care do you need? Most schools have an after care program (fees vary). An exception is Stevens Cooperative, which does not have after care for 2 and 3 year olds, but free after-care for 4s-8th grade. A few provide after school care till 7 p.m.
• Do you plan to pack lunch for your child? If your child has food allergies, dietary restrictions or other reasons you want to pack a daily lunch, be aware that some programs like HOPES and Miles Square in Hoboken provide meals and don’t allow outside foods.
• Do you have a preference for Montessori, Progressive Education or another special curriculum or philosophy?
• Do you want the school to run through higher grades (e.g. middle school instead of elementary or preschool)? Hoboken Catholic, Mustard Seed, All Saints, Waterfront Montessori and and Stevens Cooperative run through 8th grade.  The Hudson School services grades 5-12.
• How involved do you want to be in your child’s school on a daily basis? A high level of parent participation is required in certain co-operative schools such as Stevens.
• What is the sibling policy? Many schools offer preferential admission to siblings, as well as tuition discounts.
• Will your child make the school age cut-off? Some private schools have a September 1 cutoff, others are as late as November 1.
• What role should religion play in your child’s education? Schools such as OLC, Hoboken Catholic Academy, Mustard Seed and Kaplan Cooperative have stated mission statements that incorporate religion into their curriculum. All Saints does not espouse a particular religious doctrine but instead emphasizes spirituality.
• Do classrooms have computers?
• What is the teacher to student ratio? The maximum class size in most private and public schools is 15-16 students per class, with one teacher and one assistant teacher.  The maximum class in some others can be 20+.
• Does the school offer special education or remedial classes for children who need them? Are the classes and restrooms accessible? Many schools do not have elevators.
• What does the school do to help develop character and citizenship? For example, All Saints actively incorporates philanthropy and even younger students participate in their many service programs.
• Where do graduates pursue their higher studies? Acceptance to reputable high schools and colleges often indicate the educational excellence of the previous schools. Waterfront Montessori, Stevens Cooperative and Mustard Seed, amongst others, publish a list of schools and colleges their graduates have attended.
• How long do you plan to live in Hoboken or Jersey City? Private school contracts become binding in the spring, meaning the entire amount becomes due even if you relocate and decide not to attend. 

In addition, various websites, including the U.S. Department of Education have tips on how to choose the right school for your child.

More about me: I am your local Hoboken and Jersey City real estate expert, as well as your global property specialist. Read more about me at hoboken.kwrealty.com

The Hidden Costs Buying a Home with Heating Oil vs. Natural Gas

ABSTRACT:

The hidden costs of buying a home with heating oil versus natural gas can run into thousands if not hundreds of thousands of dollars. Heating oil is not just expensive to operate, but conversion and removal of heating oil tank is expensive.

Oftentimes in my role as a real estate agent, I see homes heated with heating oil priced lower than those that use natural gas. It makes sense, since the cost of running a home on heating oil versus natural gas has become so much more expensive. But that is not all: my real estate attorney and home inspector had explained to me that potential costs and liability associated with underground heating oil tanks could be calamitous. However, the major costs with an above ground oil tank (which I had in my first home) are the heating and conversion costs. Now, when working as a real estate agent helping prospective buyers, I always explain to buyers all the possible costs of buying a home heated with oil, so buyers can make a more informed decision.

Substantially higher heating bills
When I owned my single family home in the mid-2000s, heating oil and natural gas were roughly priced the same. Based on the EPA's Heating Fuel Comparison calculator, assuming average efficiencies for both types of furnaces, the cost of heating with #2 heating oil is currently 350% that of natural gas. A typical fuel tank contains over $1000 worth of heating oil. In contrast, my gas bill, which powers my furnace and hot water tank in my current home, cost $25-50 each month over the past year (my utility smoothes out natural gas prices lagged over the past two years).

Natural gas conversion costs

Without any incentives, based on anecdotes, the conversion from heating oil to natural gas, including above-ground oil tank removal, permits, plumbing, electrical, chimney work and ducting typically runs $6,000-8,000. In ground costs, discussed below, are higher. In addition, a new hot water tank starts at $1000 and goes up to $3000 for some tankless models. Many states offer subsidies and tax incentives for conversion, and some natural gas manufacturers offer financing as well, but it takes several years to financially break even when converting from heating oil to natural gas.

Removing or abandoning underground oil tank costs
In New Jersey, the Department of Environmental Protection (NJDEP) offers an underground storage tank (UST) remediation, upgrade and closure fund. Several contractors advertise that homeowners can get state funds for removing their underground oil tanks. In reality, the NJ UST Fund has stopped making grants for over two years due to insufficient funds. However, similar programs in other states may still be funded. According to Bergen.com, removing or cleaning and filling (with foam or sand) an underground heating oil tank costs about $1500-2000 out of pocket and must be performed by a licensed site remediation professional (LSRP). following detailed protocol. In addition, there are permit costs for removal or abandonment in place, $400-500 fee for site testing for soil contamination and oversight costs (typically $500) payable to the DEP. If no leaks are found in the unregulated heating oil tank (UHOT), the DEP issues a No Further Action (NFA) letter, which homeowners should safeguard and prospective buyers should review.

Cost of leak remediation and clean-up
This is the big unknown that often breaks up real estate deals. By several anecdotes, hazardous heating out leak remediation can run upwards of $50,000 to over $100,000. Many cases also take more than one year to complete the testing and clean-up, and for the DEP to issue a NFA letter. Oftentimes, the homeowners' insurance excludes this peril (for example insurance might pay if a neighbor's property is affected through liability coverage but exclude the primary homeowners), although heating oil companies offer insurance to cover underground oil tanks. Although the NJ state fund for tank removal has been depleted, the state is taking applications for possible reimbursement in 2015. Loans may also be available from the NJ Economic Development Authority, or an equivalent agency in another state.

How buyers can protect themselves

As a real estate salesperson, I usually encourage sellers to have the NFA letter handy before listing a home for sale, and for buyers to consult with their attorneys on how to minimize their exposure to the liability, as clean-up is the responsibility of the current homeowner, no matter when the underground storage tank may have leaked. Under NJ's Open Public Records Act (OPRA), buyers can research whether there ever was an underground oil tank, whether boring studies were undertaken to see if there was contamination, how the remediation was done and if a NSF was issed, and what the results of the post-cleanup tests were. In fact, for single and multi family homes in close proximity, it is a good idea to check the records for the neighbors, as the slope of the ground can affect the area of impact.

Around town, I have seen multi-family homes and condominium buildings with underground oil storage tanks (whether active or decommissioned) priced lower. With good reason, since the hidden costs of buying such a home can run into thousands if not hundreds of thousands of dollars, something that buyers, their real estate attorneys and their real estate agents must weigh before making a bid.

8 Ways Your Hurricane Sandy Flood Insurance Settlement Likely Fell Short

Over the past two months, I have been hearing of more of our neighbors' Hurricane Sandy flood insurance claims being settled at WAY less than what it cost them to repair and rebuild.

I reviewed my Estimated Proof of Loss, which details what the insurance adjustor calculated as the flood settlement should be. The payments for cleaning and painting, as well as replacements, were broken out, room by room. I found several areas where my flood insurance claim settlement fell short.

Here is what I discovered and what you should look for:

1. Insulation: The stuff between the walls, which sells for about $45 for 13 linear feet of coverage (2x4 squares). Check your drywall measurements, it should be the same square footage. My POL completely omitted insulation.
2. Electrical: If you got a couple of feet of water, chances are your electricals were ruined. While a lamp plugged into the wall would not be covered by flood insurance, your wires and outlets will be covered. My POL completely omitted electricals.
3. Other electrical components: Sprinklers switches and valves, alarms, intercoms, elevator mechanicals should all be covered.  My POL completely omitted electrical components destroyed by the flood water.
4. Drywall: All exterior walls should be double drywall. Did your claim include double what the adjuster measured? My adjustor not only failed to realize what is building code, but also got the width wrong. I had photos to prove otherwise. My POL was off by 75%.
5. Heater, furnace, and other non removable fixtures, including toilets and sinks are and should be covered. My POL omitted some.
6. Carpet: Carpet allowances vary from $1.50-4 per sq feet (their calculations are in sq yards). There is a step up overage for installing carpet on stairs. My POL underestimated carpet cost.
7. Allowances: Did you check the allowances on a per unit or per square foot basis for paint, drywall, disinfecting, air mover, flooring, carpet etc? Mine magically decreased year over year.
8. Contractor overage: Finally, the cost of labor. I have no idea what the adjustors' idea of fair labor costs in our area is. Ours were 1000% higher than what they gave us.

 

You can appeal your claim. Or complain to FEMA. The second really helps expedite things.

 

Did you find this article helpful? Please share with your neighbors who were affected by Sandy. Clicking on ads also helps with Google rankings so my article can reach more people.

 

Good luck!

Hudson County Property Tax Appeal Deadline Approaches

With local property prices on a sharp uptick, this may be the last year in the next few of getting a reduction in your property tax bill.

The deadline for property tax appeal in Hudson County, NJ is April 1. However, it is important to note this is a deadline for receiving the appeal, which means if it is not in the mail by the weekend, chances are you are going to miss the property tax appeal deadline.

And where should the appeal be sent to? According to the rules, appeals must be mailed in triplicate... three copies one each sent to the Hudson County Board of Taxation in Jersey City, your city's Assessor, and the City Clerk. Make sure the form is the original from City Hall, or an authorized one from the county board's website.

How do you actually go about the property appeal? You can read the details in my +Yahoo! Finance article, First Person: How I Reduced My Property Tax Bill by 25%

If you are looking for MLS listings from many months ago, I find Streeteasy is the best source of getting those old sales details.

Good luck!


Image: http://www.sxc.hu/browse.phtml?f=download&id=1139531

The Cost and Benefit of Fighting a Ticket in Court

Last month, I beat an improper parking ticket. What gave me the confidence to appear and win in municipal court, without attorney representation?

Two bags of my neighbor's garbage!

Ignoring a municipal court summons or notice can damage a person's credit and raise auto insurance rates. How I saved money and learned lessons by spending a morning in municipal court a few years ago.

First Person: The Cost and Benefit of Fighting a Citation from Municipal Court

Image: sxc.hu

Do You Need an Income Tax Refund Anticipation Loan or Check? NOPE!

You have seen those ads on TV. Get access to your refund check in days! No W-2 needed to get your income tax refund. Pay nothing out of pocket for getting your taxes done. We will even give your old returns a second look.

Even though refund anticipation loans are now banned, a financial product called Refund anticipation check (RAC) is set to dupe millions of hard working, low income taxpayers in 2013. Why no one, especially a low income taxpayer, needs a refund anticipation check.

Read more at Yahoo Finance: First Person: Who Needs an Income Tax Refund Anticipation Loan or Check? Absolutely Nobody

Image: sxc.hu

How Much Does Private Preschool Really Cost?

When I was researching preschool options for my child, I visited an open house for local preschools. When asked how much the cost of attending the private preschool would be, I got responses ranging from $6,000 to $22,000. So, how much does a preschool really cost? The answer lies in the details.

Read more @YahooFinance: First Person: How Much Does Private Preschool Really Cost?

Four Ways IRS Can Pay You to Drive Your Car

While President Obama paying electric bills turned out to be false, despair not, IRS will really pay you to drive your car... sometimes!

With proper documentation, operating a car or truck for business, charitable, medical, or moving expense purposes can generate deductions that lower taxes and earn many taxpayers gas money (and more) from the IRS.

Read more @YahooFinance: First Person: 4 Ways the IRS Can Pay Me to Drive My Car

A Winter Disaster Inventory

Mother Nature may have spared us from total Armageddon, but that doesn't mean the next winter blizzard or snowstorm is not around the corner.

Thanks to a week without power following Hurricane Sandy, I now know what I should stockpile to survive a few days without modern comforts like electricity or heat. I will never be a "prepper" since I do not believe any amount of stockpiling will help me if doomsday arrives, but I like to be ready should a snowstorm knock out my power in winter.

Here are some extra items from my winter disaster inventory, which consists of my actual purchases from Hurricane Sandy, as well as some wishlist items that I have now stocked. These are meant to complement the list found on ready.gov and my general pantry and kitchen items.

Read more on Yahoo Finance: First Person: Pricing My Winter Disaster Inventory

PS: A huge thank you to @YahooFinance for retweeting my article on Dec 27!

7 Smart Year End Financial Moves to Lower 2013 Taxes

 

Since I itemize on my federal and state tax returns, I make year end financial moves to maximize my tax deductions and lower my out of pocket costs. 2012 is especially important, given the looming fiscal cliff and changes to health care rules. Here is what I am doing.


Read more @ Yahoo Finance: First Person: 7 Smart Year End Financial Moves to Lower 2013 Taxes