There is news on the HUD home front stating that it is implementing new FHA condo requirements and new certification and recertification programs, in Hoboken and across the country. For a condominium or a townhome development to qualify for FHA funding, they must be approved under new FHA rules implemented in February 2010. Spot approvals for individual units are no longer permitted. Hobokencondominiums approved prior to Oct. 1, 2008, must be recertified by Dec. 7, 2010. The recertification process may be performed by HUD via an HRAP Submission or by a lender with Direct Endorsement authority (DELRAP submission). Beginning Jan. 1, 2011, in order for an FHA loan to fund, the condominium development also must meet the eligibility requirements at the time of underwriting to qualify for an... 11/28/2010

We all know that your credit history can influence a lender when an interest rate is being determined for yourHoboken home loan. Although other factors are considered when applying for a home loan, such as your income, debt and savings, your credit score is often the biggest factor in determining your risk as a borrower. A good score can often save a person hundreds of thousands of dollars over the life of a mortgage. There are three main credit bureaus: Experian, Equifax and TransUnion. They collect information about your payment histories from banks and other financial institutions, retailers, savings and loans, and credit unions. From the information in your credit reports, a credit score is derived based on statistical analysis. If you are concerned about increasing your credit sco... 11/28/2010

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Below is the Jersey City condo market update for condominium sales for October 2010 in Downtown Jersey City. All information is gathered from the Hudson County Multiple Listing Service. Currently there are 347 Active condos for sale in downtown Jersey City. 71 downtown Jersey City condos are currently under contract. In the month of October, there were 21 closed sales in downtown Jersey City. For the complete & detailed Downtown Jersey City condo market update, please visit Living on the Hudson.   11/26/2010

Mark your calendars for  Tuesday, November 30th and Wednesday, December 1st. Those are the two days out of the year that nearly fifty of Hoboken’s most popular merchants will be hosting the third annual “Hoboken Hospitality Week” This special two-day event is organized to encourage the Hoboken community to come on out and shop to support the Hoboken economy.  This also is a great opportunity to socialize with you neighbors and enjoy special events and promotions. On Tuesday 11/30: The “uptown” stores of Hoboken will be featured On Wednesday 12/1: Hoboken’s “downtown” establishments will be the focus During the hours of  6-10pm each day, various businesses will be promoting their own unique celebration with music, refreshments, discounts, giveaways, etc. This sounds like a lot of fun, s... 11/23/2010

There will be a new pilot program launched by HUD that will offer borrowers with good credit an opportunity to obtain low-cost loans to make energy-saving improvements to their homes. The new PowerSaver loans are backed by the FHA and will offer homeowners up to $25,000 to make energy-efficient improvements that include, duct sealing, doors and windows, HVAC systems, water heaters, solar panels, installation of insulation and geothermal systems. FHA mortgage insurance will cover up to 90 percent of the loan amount in case of default. Lenders will retain the remainder of the risk on each loan, to ensure responsible underwriting and lending standards. There will also be insurance claims payment procedures on PowerSaver loans. Lenders may also be eligible for incentive grant payments from... 11/21/2010

The home mortgage interest deduction saves the average homeowner thousands of dollars at tax time, helps support community home values and assists the first time buyer purchase a home. A tax deduction for mortgage interest makes owning a home more affordable because the deduction lowers the amount of tax you pay. It has been estimated that 37% of homeowners with an outstanding mortgage spend more than 30% of their income for housing. By paying less for housing will give you a larger disposable income for savings and other expenses. Making the American Dream a reality for many will increase the number of renters who can afford to buy a home of their own. With more potential home buyers in the market, it will help keep home prices stable for current home owners. A mortgage interest deduc... 11/19/2010

Hoboken Open Houses Map Nov 20th & 21st Feast Your Eyes. Time to feast your eyes on a nice Hoboken condo before you feast this week. Open Houses are a great way to get some exercise too. Just mosey on over to 300 Newark St on Sunday from 1-3pm. I'll be autographing copies on the October update to my Hoboken Real Estate Report. (I heard autograph sessions really bring in the crowds.) And I will truthfully answer three questions about the current real estate market. It's like having a realtor genie. If your wishes are 1. Historically low interest rates.2. Depresses home prices.3. Lots of inventory to choose from.I will grant your three wishes and free you from the lamp you call an apartment that you've been living in. Here's the rundown for this weekend. These free maps are a service of B... 11/19/2010

Hoboken Real Estate This Week: Nov 8-18 Anyone paying attention? 10 days do not make a week. You can vote three times in Hoboken but you can't cram 10 days into a week. What's a little fudge in November. The last half of the month is a throw away. As predicted price changes errr reductions are through the roof. I think many sellers are coming to the party a day late and a dollar short. Everyone is getting into the price reduction game hoping to cash in before they take their place off the market the first week of December and relist in January. Under contract condos are stilll slow and steady at 16 for the last 10 days. In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to g... 11/18/2010

Notary Public in Hoboken New Jersey state commissioned Mobile Notary Public in Hoboken.  Member of the National Notary Association.  Errors & Omissions insured. Safe & Secure. As a Mobile Notary Public in Hoboken, I will drive to your location... your home, the hospital, businesses or even your local Starbucks.  Flexible nights and weekends.  Call for an appointment today. Mobile Notary Public in Hoboken   11/17/2010

Below is the Hoboken condo market update for condominium sales for October 2010. All information is gathered from the Hudson County Multiple Listing Service.Currently there are 443 Active Hoboken condos for sale with an average listing price of $523,077. Average days on the market: 104 days.114 Hoboken condos under contract waiting to close with an average listing price of $492,736.  Average days on the market: 93 Days.53 Hoboken condos sold between 10/1/10 & 10/31/10 with average listing price of $457,495. The average sales price was $439,348. Average days on the market: 86 Days.For additional details on this Hoboken condo market report, please visit Living on the Hudson. 11/16/2010

It may seem like there is a lot of doom and gloom in today’s real estate market, but it is an ideal time to refinance your Hoboken home. Currently, interest rates are at a record low of 4.25 percent for a 30-year fixed loan. It has been reported thatapplications for refinancing have nearly quadrupled within the past quarter. Everyone should take a closer look to see if they can significantly lower their mortgage. Although credit standards are a bit tougher now, it is not as difficult as you would think to get a new loan in Hoboken. If your credit score is 740 or better, you are in great shape to refinance. If your score is between 620 and 720, you will find higher pricing for a given interest rate at these scores. A big hurdle to get over is to make sure your loan will be equal to or l... 11/16/2010

Hoboken Notary Public New Jersey state commissioned Mobile Notary Public in Hoboken.  Member of the National Notary Association.  Errors & Omissions insured. Safe & Secure. As a Mobile Notary Public in Hoboken, I will drive to your location... your home, the hospital, businesses or even your local Starbucks.  Flexible nights and weekends.  Call for an appointment today. Mobile Notary Public in Hoboken 11/14/2010

Is now a good time to buy a Hoboken condo? I’ve found twenty nine 2 bedroom, 2 bathroom homes currently for sale in Hoboken that are priced $450,000 and under with the lowest price condoat $250,000. AND…….today the Federal Home Loan Mortgage Corporation know asFreddie Mac said that 30 year fixed loans fell to their lowest level since 1971! The average rate for 30-year fixed loans fell to 4.17 percent from 4.24 percent last week. So is this a good time to buy your first or move up Hoboken condo? Edward (Eddie) Perez 11/11/2010

By Eddie Perez I just returned from attending the 2010 National Association of REALTORS convention in New Orleans. It’s now been 5 years since the devastation caused by Hurricane Katrina and much of the city has since been rebuilt however much work remains to be done. I along with fellow Hoboken real estate agent Mary Jane Dinardo had the opportunity of helping to build homes in the Upper 9th Ward by participating in the REALTORS Volunteer Build Days before the conference began. Hundreds of real estate professionals from around the country teamed up with two organizations, New Orleans Area Habitat for Humanity and Rebuilding Together New Orleans, to rebuild and restore homes for deserving families. I was surprised to find out that for the last 3 years, these two organizations have been... 11/10/2010

The Theatre Company would like you to drop by at the Monroe Center for the Arts in Hoboken to see their version of the 1879 opera “The Pirates of Penzance.” Directed by Clara Barton Green, performances began on November 4th.

The run continues through the month of November with performances Thursdays through Sundays, November 4-7, 11-14, and 18-21. Thursday, Friday and Saturday performances begin at 8 p.m. with Sunday matinees at 3 p.m. Tickets are $25 for adults, $20 for students and seniors and $15 for children. The Monroe Center is located at 720 Monroe Street in Hoboken. All performances will take place in TTC’s studio, room C413. For help in finding and closing on your perfect Hoboken home,contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, a progressive ci... 11/09/2010

This Week In Hoboken Real Estate: Nov 1-8 A Peek Back At October. 52 Sales. 46 Contracts. October survived. Yet a chill is in the air. Open House traffic is down and 9 more contract were written this week... that's 13 in two weeks. No G.I. Joe with the kung fu grip for the realtor's kids this year. The new format for This Week In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to get the weekly reports emailed directly to them. I am sure I will be killing the traffic to my site...so tell a friend to read me. This week is not a surprise to anyone reading my Q3 Hoboken Real Estate Report. The market is slowing. Another week with only 12 contracts. Active Hoboken condos has dro... 11/08/2010

Below are the top 3 most expensive Hoboken condo sales for September 2010. All information is gathered from the Hudson County Multiple Listing Service.1. 502 Observer Highway Unit #2: 3 bedrooms, 2.5 baths, triplex condo with garage parking for 3 cars sold for $875,000.2. 1125 Maxwell Lane Unit #907: 2 bedrooms, 2 baths with 1 car parking sold for $845,000.3. 337 Park Avenue Unit #1: 2 bedrooms, 3 baths, duplex condo with private yard sold for $730,000.For additional details on these condo sales, feel free to visit Living on the Hudson. 11/06/2010

The cost to close the deal on your new Hoboken home may not seem like that much when you have just purchased a home worth hundreds of thousands of dollars. However, it would be nice to have some cash left over by saving on your closing costs. Following are some tips to give you ideas of how to reduce the closing costs on your new home: Be sure to shop around. Ask a mortgage broker or bank to provide a good-faith estimate, and include a detailed list of closing costs and terms. While we are in a housing climate that favors the buyer — ask the seller to cover some or all of the closing costs. By predicting how long you plan to live in your Hoboken home, you can save you money, too. If you would like to sell within three to five years, it could be a good idea to keep closing costs down by... 11/05/2010

Is the Hoboken Real Estate Market Flat? Taking a look at the above chart, it might appear that condo real estate prices in Hoboken have remained relatively flat over the past year. The lower 75% tracks similarly while the upper 25% has big swings based on the potential of a few very high priced sales unduly influencing the numbers. Upon a closer look, the truth is frightening to sellers and a real opportunity for buyers. Digging down on the upper second quartile (50%-75%) median prices have dropped from near $550k to $510k. Some of the price drop may be from lower priced homes selling. Some is definitelt from a lowering of prices. These charts and more Hoboken market statistics are available on a weekly basis in my free Hoboken Real Estate Trend Report. Is the Hoboken Real Estate Marke... 11/04/2010