Hoboken, NJ Real Estate News

By Edward Perez
(Sothbey's International Realty)
The rising popularity of walkability is becoming a popular feature whenlooking for a home in urban areas as well as the suburbs. Home buyers are seeing the importance in having nearby amenities that can be reached on foot. Walkable neighborhoods provide many benefits to the environment and health, including adding to the spirit of the overall community. With automobiles being a leading cause of climate change, it is obvious that the more walking will be better off for all of us. Another interesting fact to add is, the average resident of a walkable neighborhood weighs 7 pounds less than someone who only drives. Recent studies have stated that, having amenities within walking distance can boost the value of a home as much as $3,000. If you are considering purchasing a new home and you a...
Comments 0
By Brian Murray
(Prime Real Estate Group)
Hoboken Open Houses Map Weekend of 7/10, 7/11 Last week was a slow week. There was only one open house. Who was the sucker? Me. Open houses on a holiday weekend are like big game hunting. You mostly won't see anything but if you do...bam. Anyone out on a holiday weekend is SERIOUS. I thought I owed that to my seller...Here's the rundown for this weekend. These free maps are a service of Brian Murray. Open houses are a great way to get a high level view of the market when just starting your search but keep in mind the following important items: 1) Open houses only represent a small portion of what is available. On any given week end in Hoboken, there are between thirty and sixty open houses. This represents as little as 5% of the total inventory. A buyer who is just starting out should s...
Comments 0
By Edward Perez
(Sothbey's International Realty)
Yes, temperatures are rising in Hoboken. Recently we have had 100-degree days and a heat advisory is in effect to make this a summer to remember. Jersey City and Hoboken are opening up cooling stations, and local hospitals are advising people to stay out of the sun and drink plenty of fluids. A reminder from the Jersey City Medical Center is to be sure to stay hydrated and avoid alcohol, which can cause dehydration, and drink plenty of water. Especially avoid direct sunlight, particularly if you have breathing problems or heart-related problems. Hoboken has opened cooling stations at the Hoboken Housing Authority’s Senior Building at 220 Adams St. and Wallace School gymnasium at 1100 Willow Avenue. The centers will be open for at least 24 hours according to city officials. In Jersey Ci...
Comments 1
By Brian Murray
(Prime Real Estate Group)
This Week In Hoboken Real Estate: June 28-July5 Crunch Time: Sunscreen is out. The Grill is on high and the burgers are cooking. Summer is officially here. Hoboken has migrated south and east and north and west. If you're here, you're square. Buyers are going to be VanWinkling for the next two months....Sellers best bang the drums. 26 New Condos to The Hoboken Real Estate Market 26 Price Changes 11 Under Contract 24 Sold Hoboken Properties AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system. Still want more? Get my Hoboken Real Estate Report May update or Hoboken Real Estate Trend Report..... This Week In Hoboken Real Estate: June 28-July 5
Comments 0
By Jeana Cowie, Broker Associate, ABR, CRS, GRI, SRES
(RE/MAX Real Estate Limited)
Carlo's Bakery of TLC'S Cake Boss's fame located in Hoboken, NJ is getting even more popular The lines were extremely long on this Saturday afternoon at Carlo's Bakery, in Hoboken NJ.  It must have been a 1 1/2 hour wait as the line wrapped around the corner.  The popularity of this infamous bakery is probably at an all time high due to TLC's hit show Cake Boss. We wanted to try their infamous crumb cake and maybe some cannolli's, but we will try again at another time.  Carlos Bakery95 Washington St. Hoboken, NJ 07030(201) 659 - 3671  Click Here For Directions
Comments 2
By Edward Perez
(Sothbey's International Realty)
Hudson Shakespeare Company has returned to Hoboken this summer with its second performance of Shakespeare in the Parks: “Much Ado About Nothing” at Frank Sinatra Park on Monday, July 12 and Monday, July 19 at 7 p.m. The Company will have an additional performance at Van Vorst Park in Jersey City on Friday, July 9, also at 7 p.m. Located in sunny Renaissance Italy, two pairs of lovers must find their way to each other despite a series of obstacles, from wars of words to deception and false rumors. Hudson Shakespeare will be entering its 19th season of traveling and performing Shakespeare. They will also be performing “The Tempest,”their third and final 2010 installment on August 2 in Sinatra Park at 7 p.m. All performances are free and be sure to bring a lawn chair. For more information...
Comments 0
By Edward Perez
(Sothbey's International Realty)
Interest rates on home mortgages fell—once again—down to another record low at the end of June. According to Freddie Mac’s weekly survey of lenders’ rates, the average rate on 30-year fixed-rate mortgages dropped to 4.69 percent with an average of 0.7 point in the week that ended June 24, 2010. Last year, the average rate on 30-year fixed-rate mortgages was 5.42 percent. The average rate on a 15-year fixed-rate mortgage fell to a low 4.13 percent with an average 0.6 point. Last year, that average was 4.87 percent. If you are in the market to sell your Hoboken home, allow me to show you how to have your home rise to the top for a quick sale. Contact me today so we can begin. For more great reasons to buy a home in 2010, please click on The Best Time to Buy a Home is Now! If you have bee...
Comments 2
By Edward Perez
(Sothbey's International Realty)
Two New Jersey homes recently went up for auction, but not for a lack of money by the owners to make the mortgage payment.The Federal Trade Commission is conducting a liquidation sale to pay $18.8 million in fines imposed on two people who ran a company that tricked people into thinking they were donating money to police, firefighter and veteran charities. Scott Pasch and David Keezer ran Civic Development Group, a supposed charity that made telemarketing calls to solicit donations for the purchase of bullet-proof vests for officers and provide death benefits to officers’ families. After an investigation, the FTC found that only 10 cents of every dollar raised went to the charities. The rest was pocketed by the Civic Development Group. Pasch and Keezer agreed to a settlement of an $18....
Comments 1
By Edward Perez
(Sothbey's International Realty)
Be sure not to miss Hoboken’s amazing 4th of July Festival from noon until 10pm along Frank Sinatra Drive near the intersection of  1st Street , 7th Street and Sinatra. The festival will be lots of fun with artists, crafters, photographers, food vendors, rides, games, live music and more.  Also, don’t forget about getting a prime seat in Hoboken to watch the annual Macy’s fireworks show that takes place over the Hudson River. If you are interested in reserving vendor space click on the following link:http://hobokennj.org/docs/cultural/July4thApplication2010.pdf For additional information, feel free to contact the Cultural Affairs office at201-420-2207. With so many great summer activities like the fireworks show and festival really shows what a great and innovative city Hoboken is to c...
Comments 0
By Edward Perez
(Sothbey's International Realty)
The City of Hoboken is making a major expansion in its bicycle parking capacity by more than doubling the number of bike rack locations. According to Mayor Dawn Zimmer, “They say that if you build it, they will come, and that’s exactly why we’re continuing to expand our bicycle infrastructure.” “This is an important component of my administration’s comprehensive efforts to make Hoboken greener and more bike and pedestrian friendly.” You will find new bicycle racks along the Washington Street and 1st Street commercial corridors, at the 2nd and 9th Street light rail stops, near parks, and in other major areas. With the addition of 36 new bike rack locations will increase Hoboken’s bicycle parking to more than 200 spaces. It is so critical to choose the best selling price for your home. I...
Comments 0
By Edward Perez
(Sothbey's International Realty)
According to a study by Joint Center for Housing Studies (JCHS) ofHarvard University despite encouraging signs this spring, the real estate market still faces large hurdles but jobs and employment are key factors.    In the JCHS annual report, The State of the Nation’s Housing, the JCHS has stated that the recovering labor market and low mortgage interest rates should be enough to shore up sales and housing starts following “an expected dip” due to the expiration of the federal homebuyer tax credit.   The recent upswing in sales has helped stabilize prices in a few areas but the report finds no clear indication of the future direction of prices, since two major indices that track prices show conflicting trends.  Overall, the study also stated that the consequences of the recession and ...
Comments 3
By Brian Murray
(Prime Real Estate Group)
Hoboken Open Houses Map Weekend of 6/26, 6/27The sandwich weekend between Dad's Day and 4th of July. .A new Hoboken open house feature below.... These free maps are a service of Brian Murray. Open houses are a great way to get a high level view of the market when just starting your search but keep in mind the following important items: 1) Open houses only represent a small portion of what is available. On any given week end in Hoboken, there are between thirty and sixty open houses. This represents as little as 5% of the total inventory. A buyer who is just starting out should see open houses in different price ranges to understand what your money will buy in terms of square footage and location. Beyond and initial five or six open houses, a realtor will save you time by working with yo...
Comments 0
By Edward Perez
(Sothbey's International Realty)
It’s natural that when you are selling your Hoboken home you will want the highest price possible so knowing how to develop a pricing strategy is a must.Be sure to remember that if you over price your home you may attract more low-ball offers than legitimate buyers who are ready to buy. It is so important to place your home for sale at its market value, rather than at an inflated price. Be sure to figure out the correct market value of your home at the beginning to develop a good sales strategy right away. Following are several great tips to help you price your home: 1. Never calculate the asking price based on how much you paid for your home, the amount of your mortgage, or by how much you invested in home improvements. 2. Check the comps. Make sure you get a comparative market analys...
Comments 0
By Edward Perez
(Sothbey's International Realty)
For many of you it will be great to see the day when your mortgage is paid off and you own your home free and clear.  If that time for you is very far off for you, a smart thing to do is to build equity in yourHoboken home right now. Following are the best ways to build equity in your home: 1. Get a 15-year loan, instead of a 30-year loan. The payments will be higher on the 15-year loan, but the equity will accumulate quicker as the loan is paid off in a shorter amount of time. 2. Make extra mortgage payments. 3. Pay off a loan. 4. Invest in major home improvements. Very seldom will improvements have a 100 percent return of the cost, but they will certainly increase the value of the home. 5. Wait for home values to increase. The appreciation of the value of a home also increases equity...
Comments 1
By Edward Perez
(Sothbey's International Realty)
  A citywide car-sharing program has been launched by the city of Hoboken and Connect by Hertz, with the intent of reducing the parking congestion in Hoboken. The program is called “Corner Cars” and its main goal is to provide city residents with 42 car-sharing vehicles. According to Hoboken and Hertz officials the program is the first citywide public/private partnership between a municipality and a car-sharing company in the country. The anticipated availability date for the use of cars will be July 1. Since it is such a difficult task to find parking in Hoboken there is hope that the  “Corner Cars” program will help alleviate parking issues. The program is a good idea for residents who only need a car occasionally to run errands or take a short trip.  Another benefit would be to help ...
Comments 1
By Brian Murray
(Prime Real Estate Group)
This Week In Hoboken Real Estate: June 14-21 The June Swoon. The Hoboken Real Estate market has slowed down with the hot weather. 42 New Condos to The Hoboken Real Estate Market 41 Price Changes 9 Under Contract 40 Sold Hoboken Properties AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system. Still want more? Get my Hoboken Real Estate Report May update or Hoboken Real Estate Trend Report..... This Week In Hoboken Real Estate: June 14-21
Comments 0
By Brian Murray
(Prime Real Estate Group)
Hoboken Open Houses Map Weekend of 6/19, 6/20Happy Father's Day.A new Hoboken open house feature below.... These free maps are a service of Brian Murray. Open houses are a great way to get a high level view of the market when just starting your search but keep in mind the following important items: 1) Open houses only represent a small portion of what is available. On any given week end in Hoboken, there are between thirty and sixty open houses. This represents as little as 5% of the total inventory. A buyer who is just starting out should see open houses in different price ranges to understand what your money will buy in terms of square footage and location. Beyond and initial five or six open houses, a realtor will save you time by working with you to help define your wants versus you...
Comments 0
By Brian Murray
(Prime Real Estate Group)
This Week In Hoboken Real Estate: June 7-14 So here we are speeding towards the summer . Hoboken sellers better start thinking price reductions if they want their homes sold before the back to school ads start hitting the airwaves. The number of condos under contract still low this week. A harbinger of the summer to come? 63 New Condos to The Hoboken Real Estate Market 48 Price Changes 14 Under Contract 28 Sold Hoboken Properties AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system. Still want more? Get my Hoboken Real Estate Report April update or Hoboken Real Estate Trend Report..... This Week In Hoboken Real Estate: June 7-14
Comments 0
By Walter Burns
(Keller Williams City Life Realty)
  Below is the Hoboken condo market update for condominium sales for May 2010. All information is gathered from the Hudson County Multiple Listing Service. Active Hoboken Condos There are 523 Active Hoboken condos for sale with an average listing price of $520,492. Average days on the market: 86 Days   Since May 1st, 177 new Hoboken condos came on the market for sale with an average listing price of $518,001. Active Hoboken Studio Condos: 18 condos for sale with an average listing price of $368,360. 167 days on the market. Active Hoboken 1 Bedroom Condos: 181 condos for sale with an average listing price of $382,676. 84 days on the market. Active Hoboken 2 Bedroom Condos: 268 condos for sale with an average listing price of $569,748. 80 days on the market. Active Hoboken 3+ Bedroom Con...
Comments 1
By Edward Perez
(Sothbey's International Realty)
There still is a clear path to home ownership with the current low interest rates. If you have been on the fence regarding purchasing a Hoboken home, now is the time to do it while the rates still remain low. There are many properties on the Hoboken market to choose from so allow me to be your guide. During the week ending May 27, 2010, the interest rate on a 30-year fixed-rate mortgage averaged just 4.78 percent. A year ago, the average was 4.91 percent. The compilation of these rates are from a weekly survey of lenders by Freddie Mac. Average rates on 15-year fixed-rate mortgages and adjustable-rate mortgages (ARMs) remain low. The 15-year fixed-rate mortgage averaged 4.21 percent, a record low since Freddie Mac started tracking this rate in August 1991, with an average 0.7 point. Th...
Comments 1