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Hackensack, NJ Real Estate News

By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Originally posted at Jersey Real Estate Scene: What Is The Absorption Rate In Real Estate And How Is It Calculated? What is absorption rate and how is it calculated? The Absorption Rate is a calculated "pace" at which properties listed for sale have been selling in a specific market area. When measured consistently, absorption rate is a useful indicator in determining future supply and demand trends in a market. If market conditions remain the same and no new listings are added to the area's inventory, it determines the pace at which current inventory should take to sell out. This is most often measured in months and a "healthy" (balanced) market's absorption rate generally falls in the 5 - 7 month range. The absorption rate is certainly not a highly scientific calculation or absolute i...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
What's The Big Deal About FHA Approved Hackensack Condos At The Somerset?! The Somerset Condominium at 290 Anderson Street in Hackensack, NJ recently received FHA insured financing approval in November 2011. The Somerset is an eye-catching 6-story mid-rise condominium with 75 units of 1 and 2 bedroom well-planned floor plans.  It’s got great curb appeal and is nestled in Hackensack’s serene and sought-after Fairmount section. What’s the big deal about FHA approved Hackensack condos? Well, it’s a two-fold answer. FHA insured mortgage financing is a sought-after mortgage product for many seeking to purchase a condominium with a lower down payment (typically as low as 3.5%). It’s also a plus for potential buyers whose credit scores may be a bit lower and not qualify them for conventional ...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Welcome 2012 & remember: In confusion, there's opportunity. I'm pretty sure this isn't a revelation. Movers & shakers throughout history have understood this concept & worked it skillfully toward positive outcomes. I'm not referring to the bottom feeders & fraud peddlers that creep from the woodwork in hard times of any & all sorts. I mean folks who step up, analyze the times, and think of ways to re-tool, re-invent & re-work to best survive & prosper, for themselves & in the service of others. In doing so, their efforts spawn a higher quality of evolution and set the bar a bit higher. Sometimes, that evolution is largely their own, while the rest of the pack stares on, timid and waiting to see... It all depends upon where the focus lies. If one remains fixated on all confusion and hyst...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
The Price Is the Same, But You'll Save Over $100,000! How can that be?!   Read on... We're seeing more and more research coming from quality sources proving that now is a most opportune time to purchase a home. No matter the type of scenario or ratio, be it income-to-mortgage payment, income-to-price, or the age old "Should I rent or own?" quandary, you'll find that a home purchase now is quite a bargain as compared with all historical norms. We know that sellers are most concerned with PRICE. But, buyers focus on COST, as that is most indicative of a home's affordability to them. (What are the payments along the way & can I afford them?) Let's take a look at COST... As reported in a recent S&P Case Shiller price index, residential home values are back to where they were in the beginnin...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Big Price Adjustment on Hackensack NJ Ranch - $389,900 & Possible Buyer's Rebate! Who doesn't love "All-New"?! Beautifully done 3 / 4 Bedroom, 2 Full Bathrooms...Renovations include: New roof, new vinyl siding & gutters, new driveway, new paver walkway & rear patio, new masonry, new doors, new central air conditioning & heat, new baths, new hardwood floors & ceramic tile floors, new doors & hardware, new bathrooms, new kitchen w/stainless steel appliances & granite counters, new over-sized windows & skylight letting in lots of natural light throughout the home, entire new lower level with a rec room side & full suite side w/full bath & laundry, and so much more! Buyer’s Rebate up to $2,000! There are some restrictions, but it’s very simple! Call for details (201)546-0040 Own this beauti...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
How's the Condo Market in Hackensack NJ? Condo Market Activity for November 2011 This report pertains exclusively to the Hackensack NJ condo & townhome market. In total for the month, there were 9 condos SOLD with an Average List Price of $169,077 and an Average Sold Price of $145,611. The average sold price as a percentage of the original list price being 86%. This compares the dollar amount of the eventual sale to the amount at which the condos were originally listed & offered for sale. The average Days On Market was 157 days. This counts the # of days from the original listing date until a condo is designated under contract. "Days On Market" can be a misleading statistic in which one might assume all condos considered were actually "on the market" (priced correctly) to begin with. We...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
How's the Market in Hackensack NJ? Real Estate Market Activity for November 2011 This report pertains exclusively to the Hackensack NJ single-family homes market. In total for the month, there were 6 homes SOLD with an Average List Price of $337,912 and an Average Sold Price of $300,500. The average sold price as a percentage of the original list price being 89%. This compares the dollar amount of the eventual sale to the amount at which the homes were originally listed & offered for sale. The average Days On Market was 107 days. This counts the # of days from the original listing date until a home is designated under contract. "Days On Market" can be a misleading statistic in which one might assume all homes considered were actually "on the market" (priced correctly) to begin with. We ...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Hackensack New Jersey Condos - The Best Way to Sell Your Hackensack NJ Condo If you're thinking about selling your Hackensack NJ condo & want the best possible results, explore the marketing power of JerseyCondoScene.com   See why our real estate marketing system has been called, "Nothing short of a tech-savvy, online marketing arsenal!" "How our marketing plans benefit YOU!” ...is an exciting *VIDEO* library describing how we use many of today's most effective real estate marketing tools with topics like: (Click titles to watch!) Using custom full-motion video to market your home or condo Bringing properties to life with mobile marketing Keeping buyers focused on YOUR listing with a single-property site Power Realty Group markets your home on over 500 sites How we use the Internet exte...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Hackensack New Jersey Real Estate - The Best Way to Sell Your Hackensack NJ Home If you're thinking about selling your Hackensack NJ home & want the best possible results, explore the marketing power of JerseyHomeScene.com   See why our real estate marketing system has been called, "Nothing short of a tech-savvy, online marketing arsenal!" "How our marketing plans benefit YOU!” ...is an exciting *VIDEO* library describing many of today's highly effective real estate marketing tools with topics like: (Click titles to watch!) Using custom full-motion video to market your home or condo Bringing properties to life with mobile marketing Keeping buyers focused on YOUR listing with a single-property site Power Realty Group markets your home on over 500 sites How we use the Internet extensively...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
How to sell a condo in Hackensack New Jersey & get the best results! If you're thinking about selling your Hackensack NJ condo & want the best results, discover the marketing power of Jersey Condo Scene See why our condo selling system has been called, "Nothing short of a tech-savvy, online marketing arsenal!" I'm Brian Morgenweck, REALTOR® & Broker/Owner of Power Realty Group. I designed the Jersey Condo Scene system to get you the best results when selling your Hackensack NJ condo. Join me in the following short videos as I discuss... What's Most Important to Today's Sellers   And the intro to the acclaimed, Pearls of Wisdom for Home Sellers For the complete video presentation, call (201)489-3020 or email Brian@TheJerseyScene.com Information leads to knowledge. Knowledge (with action)...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
FREE Hackensack NJ Foreclosure & Short Sale Listings *VIDEO* Click the link below to see current & detailed information FREE! Hackensack NJ foreclosure & short sale listings ALL Hackensack NJ Homes & Condos for Sale Listings To learn about buying & selling distressed properties in New Jersey, Click & explore Jersey Foreclosure Scene   Information leads to knowledge. Knowledge (with action) creates POWER!   Call me... Brian Morgenweck, NJ REALTOR®   & Broker/Owner of POWER Realty Group                     (201)489-3020       or email Brian@TheJerseyScene.com     Whether buying or selling In Hackensack NJ, click & visit Jersey Real Estate Scene We're here to help!   FREE Hackensack NJ Foreclosure & Short Sale Listings *VIDEO*
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Hackensack condos for sale at The Avalon 446 Passaic St Hackensack NJ       Click to see all Hackensack Condos & Townhomes for Sale.    To inquire about available units, call  (201) 489-3020   Thinking of selling? Take a good look at Jersey Condo Scene           See why it’s been called...   “Nothing short of a tech-savvy, online marketing arsenal!”   Thanks for your interest in   Hackensack condos for sale at The Avalon 446 Passaic Street Hackensack, NJ
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Bergen County NJ Real Estate Review: HACKENSACK HOMES SOLD in October 2011 The following chart represents Hackensack homes market activity for October. Listing Status        Total        Total List/Sale Dollars  Average ListPrice Average SoldPrice Median SoldPrice Sale Price/List Price* Avg DOM Sold 5  $ 1,274,000  $ 270,160  $ 254,800  $ 248,000   94.314 125 Co-Broker 3  $ 700,000  $ 241,967  $ 233,333  $ 235,000   96.432 71 List/Sold 2  $ 574,000  $ 312,450  $ 287,000  $ 287,000   91.855 206 New 12  $ 4,461,700  $ 371,808         Under Contract 11  $ 3,129,899  $ 284,536       124 Withdrawn 3  $ 893,000  $ 297,667       231 Expired 11  $ 3,586,800  $ 326,073       243 Back on Market 2  $ 548,100  $ 274,050       231 Extended 6  $ 2,351,800  $ 391,967       165 Current Active 90  $ 33,...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Bergen County NJ Real Estate Review: Hackensack Condos Sold in October 2011 The following chart represents Hackensack condo market activity for October. Listing Status        Total        Total List/Sale Dollars  Average ListPrice Average SoldPrice Median SoldPrice Sale Price/List Price* Avg DOM Sold 3  $ 440,000  $ 184,967  $ 146,667  $ 126,000   79.294 173 Co-Broker 3  $ 440,000  $ 184,967  $ 146,667  $ 126,000   79.294 173 List/Sold 0  $ 0  $ 0  $ 0  $ 126,000     New 24  $ 5,659,000  $ 235,792         Under Contract 14  $ 2,375,800  $ 169,700       184 Withdrawn 15  $ 3,409,400  $ 227,293       136 Expired 20  $ 4,302,577  $ 215,129       255 Back on Market 1  $ 255,000  $ 255,000       27 Extended 7  $ 1,525,300  $ 217,900       216 Current Active 173  $ 38,253,340  $ 221,118      ...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Bergen County NJ Real Estate Review: Hackensack Condo Sales Activity - September 2011 The following chart represents Hackensack condo market activity for September. Listing Status        Total        Total List/Sale Dollars  Average ListPrice Average SoldPrice Median SoldPrice Sale Price/List Price* Avg DOM Sold 4  $ 830,000  $ 230,650  $ 207,500  $ 209,500   89.963 108 Co-Broker 3  $ 655,000  $ 242,767  $ 218,333  $ 244,000   89.935 138 List/Sold 1  $ 175,000  $ 194,300  $ 175,000  $ 175,000   90.067 17 New 23  $ 5,208,500  $ 226,457         Under Contract 7  $ 1,282,593  $ 183,228       200 Withdrawn 12  $ 2,992,600  $ 249,383       138 Expired 20  $ 4,557,300  $ 227,865       252 Back on Market 3  $ 537,900  $ 179,300       286 Extended 9  $ 1,969,700  $ 218,856       227 Current Act...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Bergen County Real Estate Review: Hackensack Home Sales Activity- September 2011 The following chart represents Hackensack home sales market activity for September. Listing Status        Total        Total List/Sale Dollars  Average ListPrice Average SoldPrice Median SoldPrice Sale Price/List Price* Avg DOM Sold 5  $ 1,223,950  $ 280,773  $ 244,790  $ 275,000   87.184 127 Co-Broker 4  $ 1,054,000  $ 301,000  $ 263,500  $ 280,000   87.542 118 List/Sold 1  $ 169,950  $ 199,863  $ 169,950  $ 169,950   85.033 166 New 16  $ 5,038,900  $ 314,931         Under Contract 6  $ 1,832,900  $ 305,483       94 Withdrawn 9  $ 2,940,400  $ 326,711       169 Expired 7  $ 3,060,100  $ 437,157       241 Back on Market 3  $ 801,400  $ 267,133       185 Extended 8  $ 2,451,190  $ 306,399       141 Current A...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Get a Whole-Body Workout at Maxability Sports & CrossFit. Does your idea of a workout consist of barely breaking a sweat while watching TV on the elliptical machine?  Or maybe you’re a gym rat or former athlete getting bored with your current workout routine.  In either case, it’s probably time for a change.  Enter: Maxability Sports and CrossFit in Hackensack, where they take a no-nonsense, non-gimmick approach to fitness. Maxability is an affiliate of CrossFit, a widely recognized fitness program that differs greatly from your average gym membership.  Every day, adults of all ages and abilities show up for their daily WOD (workout of the day).  They know what they’re in for before they even arrive, as the workout is posted on www.maxability.net each day.  At the end of the session, th...
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Hackensack celebrates its 6th annual Street Festival today with hundreds of merchants & food vendors lining the streets & turning Main Street into a family-fun festival!   You’ll find…   A classic car show   DJ & bands   Rides & games for the kids   Clowns & face painters, a petting zoo & pony rides!   International foods with cuisines mirroring Hackensack’s diversity from sausage & peppers, zeppoles,  cheese steaks, & shish-ka-bob to Greek, Mexican, & Spanish fare!   & over 250 street vendors!         The Hackensack Street Festival runs between 10 am & 6 pm on Main Street, between Atlantic & Passaic Streets. It’s Free! There will be lots of musical entertainment throughout the day & fun for the whole family! Don't miss... The Jersey Scene           Bergen County 365  Jersey Real Estate...
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By Malik Crichlow, Maplewood,SouthOrange,Union Real estate
(GoodBuy Homes NJ Essex & Union County Real Estate specialist)
LOCATION, LOCATION, LOCATION Great House for a Great Price!   Lovely Hackensack , NJ Cape Cod $179.000   WELCOME HOME!!!   Location is everyhting and this home is located near it all!!! This is a must see, Cozy Cape Cod is close to everything! Features 2 beds,1 Bath, Formal Diningroom and Livingroom all set in a Lovely neighborhood. This is a Short sale, subject to lender approval.        
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By Brian Morgenweck, Broker/Owner, GRI, CRS, ABR, SRS
(Power Realty Group, LLC Bergen County, NJ )
Cut, Light, & Lounge ...at Ruben's Smoke Stack in Hackensack Ruben's Smoke Stack is the go-to place in central Bergen County for top notch cigars, accessories, and the "experience"... Much like a great cigar, Ruben's Smoke Stack has a wonderful "draw". Ruben's isn't only the place to go for the best smokes (with some rare & hard to find sticks), it's the place to cut, light up and stay & lounge for a while. Ruben gets it. Hey, half of the lure of a great smoke is the relaxation, enjoyment, & camaraderie of other lovers of the leaf! Tucked in at 326  Main Street in Hackensack, Ruben's Smoke Stack provides a cigar lover's oasis...a place to enjoy a top-quality cigar & just kick back & take in a game on the huge, flat screen or sink into any of the big, comfortable chairs or couches & have...
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Hackensack, NJ Real Estate Professionals