Hoboken, NJ Real Estate News

By Brian Murray
(Prime Real Estate Group)
Somewhere David Olgivy is turning over in his grave somewhere while searching for property in Hoboken. (Hey when your in a 3x7 "garden level studio" you're always looking for more space.)   I know copywriters. I know good professional copywriters. I know ad people. I know good ad people. I know marketing people. I know good marketing people. And I know what skilled professionals are capable of. I also know when some realtor is using parlor tricks because they think some smoke and mirrors stunt is going to get people interested in their listing.   I could still be on tilt from the last two days....while dropping my three and five year old at a prestigious Hoboken public school. Day 1. both security guards not securitying but across the street smoking cigarettes like defiant teenagers. Da...
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By Edward Perez
(Sothbey's International Realty)
Even with the recent failure of the housing market, the majority of American residents still would like to be homeowners. Fannie Mae recently published a survey that states that despite all of the troubles associated with housing, 65% of respondents would rather own a home. Also, 64% of people feel now is a  good time to buy a home, while 44% expect their outlook on finances will improve in a year,  and 31% think the economy is on the right track.. Although there is optimism about homeownership, 60% feel that purchasing a home is harder for them than their parents. 68% of respondents also felt that it will not get easier and their children will struggle even more when it comes to buying a home. Certainly home prices are more affordable than a few years ago and mortgage rates are still ...
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By Edward Perez
(Sothbey's International Realty)
There were on successful bids for the debt-ridden Bel Air property owned by Nicolas Cage. Since there were no winning bids, the Los Angeles home reverted to the foreclosure lender. There is a total of $18 million in loans on the property. Bidding began at $10.4 million, which is much lower than the $35 million Cage had tried to sell the property for. To find out what is going on in Hoboken real estate market, please go toHoboken Homes. If you have been patiently waiting to buy a Hoboken home, now is the time to do it while the home buyer’s tax credit is still in effect. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available, along with the recent passing of the new tax credits, this is the ...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Market Report Q1,2010 Less than two weeks into the second quarter and I've finally gotten the first quarter report done. I blame the delay on that other report due to my uncle, which I had to make sure that I got out by April 15th. So, How Is The Market? Simple: Follow the condos under contract to see the real picture of Hoboken real estate. It spiked in October as the home buyer tax credit was set to expire and it is spiking again as the extended and expanded tax credit may expire for real this time. So is it a fake market propelled by a front load of buyers taking advantage of the tax credit or is it a truly robust market buoyed by the rebound on Wall Street and subsequent bonuses? ...Maybe both. Th Hoboken real estate market is a little different. Given the home values, there...
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By Vienna Bello, Real Estate Sales, Rentals & Consulting, GRI, SFR
(Liberty Realty, LLC)
Hoboken Spring Art & Music Festival 2010 The date has been set!  Mayor Dawn Zimmer & the City of Hoboken proudly present the Hoboken Spring Arts & Music Festival 2010  Sunday May 2, 2010 ~ 11am to 6pm ADMISSION IS FREE   Location: Washington Street - Observer Highway to 7th Street, Hoboken, NJ Featuring over 300 artists, sculptors, photographers, food vendors and craftspeople. Three stages with music throughout the day and a children's area near 3rd street with rides, games & face-painting.
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By Walter Burns
(Keller Williams City Life Realty)
  Below is the Hoboken real estate market update for condominium sales for March 2010. All information is gathered from the Hudson County Multiple Listing Service. Active Hoboken Condos There are 545 Active Hoboken condos for sale with an average listing price of $528,075. Average days on the market: 82 Days Since March 1st, 235 new Hoboken condos came on the market for sale with an average listing price of $521,208. Active Hoboken Studio Condos: 20 condos for sale with an average listing price of $366,079. 144 days on the market. Active Hoboken 1 Bedroom Condos: 204 condos for sale with an average listing price of $382,182. 75 days on the market. Active Hoboken 2 Bedroom Condos: 259 condos for sale with an average listing price of $570,116. 81 days on the market. Active Hoboken 3+ Bed...
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By Edward Perez
(Sothbey's International Realty)
   2 + 1 does NOT = 3 !! Here’s why. We’ve all seen the 2 + 1 and how they try to make that equal 3. You know the 2nd bedroom + den = a 3rd bedroom. But as we all know, a true 3 bedroom makes a difference! This beautiful 3 bedroom (yes they all have HUGE windows and closets) 2 gorgeous bathroom home in one of the nicest buildings and areas in all of the NYC metro area. Hoboken’s finest waterfront luxury loft homes with full service amenities, quality construction and premium finishes. A true gem that is situated in desirable uptown Hoboken and on the Hoboken cove with large play ground, beautiful landscaped parks, waterfront promenade, excellent restaurants and abundant shopping. Approximately 1900 square feet of luxury loft living, 3 generous bedrooms, 2 luxurious marble bathrooms with...
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By Edward Perez
(Sothbey's International Realty)
Actor Nicolas Cage’s Bel Air mansion is facing foreclosure. The home was originally placed on the market for $35 million and was reduced to $17.5 million. With a mortgage of more than $17 million owed on the property, bids will begin at $11 million at the Pomona, Calif. courthouse. In 1998 Cage purchased the property from singer Tom Jones for $6.469 million; and the owner before Tom Jones was Dean Martin. The mansion is 11,817 square feet and includes a media room, theater, wine cellar, six bedrooms and nine bathrooms. Foreclosure is no stranger to Cage he lost two New Orleans properties last year for a total of $6.8 million. To find out what is going on in Hoboken real estate market, please go toHoboken Homes. If you have been patiently waiting to buy a Hoboken home, now is the time t...
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By Edward Perez
(Sothbey's International Realty)
If you are one of many homeowners who have lost their job, relief from your mortgage payments may be right around the corner. With the help of new guidelines set up by the federal government, some lenders may be forced to offer forbearance. Forbearance means a lender defers some of a borrower’s payments until a later date. The deferred amount may be all or part of one or more of the  payments that are due. When a lender feels that a borrower’s hardship is only temporary they may consider forbearance. The new requirements to qualify for forbearance, are a part of Home Affordable Modification Program (HAMP), and may really be a help to homeowners who are out of work. Forbearance can last a minimum of three months and could extend to six months or longer. After the period of forebearance ...
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By Walter Burns
(Keller Williams City Life Realty)
Below are the top 3 Hoboken condo sales for March 2010. Information is gathered from the Hudson County Multiple Listing Service. Top 3 Hoboken Condo Sales March 2010 Metropolitan Grand 1. 109 Grand St. Unit 206 – Metropolitan Grand. This building is located on 1st & Grand and remain popular due to its large layouts & garage parking.  This 3 bedroom, 2.5 bath, 2,500 sq.ft duplex condo featured 4 separate outdoor areas and sold for $950,000 on March 1st.For the complete list of the Top 3 Hoboken condo sales, please visit my Hoboken real estate blog.
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By Edward Perez
(Sothbey's International Realty)
Many home sellers question what is the best way to improve the look of their home to get the highest appraisal. This can be a big issue since appraisals have been getting a lot of attention recently, and a very low appraisal can ruin the sale of a home. There are people who feel that making a last-minute effort to clean up a home will sway the decision of an appraiser to give the home a higher value. What really is most important in determining the value of a home is the sales prices of recently sold nearby comparable homes. Other factors that are considered are the size of the house and lot, the age and condition of the property as well as the major amenities in the home. In summary, if your house has major issues like holes in the walls or leaky plumbing, an appraiser will notice thi...
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By Edward Perez
(Sothbey's International Realty)
Whether you are looking to buy or sell a home people will choose a Realtor for many different reasons. At the top of the list of reasons is chemistry, years of experience, business ideas, the type of services offered, commission and if they are a good negotiator. The sale of a home can be a very complicated deal with many factors involved. Many of these factors are subject to negotiation. To be a good negotiator you must be very skilled to make a difference at closing the deal. Following is a list of a few things you should consider before hiring a realtor: • When you are interviewing a Realtor do not hesitate to ask about their negotiating skills. • Be sure to call the references of the Realtor’s former buyers and sellers to get a good assessment of the Realtor’s skills. • Once you ch...
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By Edward Perez
(Sothbey's International Realty)
Add another person to the list of celebrities who have took a big loss on the recent sale of their home. Singer Bruce Springsteen listed his Wellington, Fla., home for $3.95 million, but it ended up selling for $2.95 million. In 2008 Springsteen purchased the home for $3.1 million. The amazing 7,862-square-foot home located in Equestrian Club Estates is one of two that Springsteen owns in the same neighborhood. Springsteen’s current home was purchased in 2008 for $4.6 million and it resides next door to the home he just sold. To find out what is going on in Hoboken real estate market, please go toHoboken Homes. If you have been patiently waiting to buy a Hoboken home, now is the time to do it while the home buyer’s tax credit is still in effect. All of the key factors are in place to e...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Tax Appeal: 11th Hour Read the fine print..... FILING DATE (a) Your appeal must be received (not merely postmarked) by the county board of taxation on or before April 1 of the tax year, or 45 days from the date the bulk mailing of Notification of Assessment is completed in the taxing district, whichever is later. An appeal received after the close of business hours on April 1, or 45 days from the date the bulk mailing of Notification of Assessment is completed in the taxing district, whichever is later, is untimely filed and will result in dismissal of the appeal. Do you have that Fedex evelope ready? I am still getting calls. From clients that I notified months ago. I want to help them. I am worried that Hoboken now had the upperhand. www.hobokentaxappeal.com Hoboken Tax Appeal...
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By Edward Perez
(Sothbey's International Realty)
If you have been wondering what the latest designs for kitchens are, look no further, The National Kitchen & Bath Associationsurveyed designers to determine the most popular trends for 2010. Take a look at the following list: Dishwashers-in-a-drawer or undercounter refrigeration (drawers being used as refrigerators). This has been becoming popular with homeowners so they can put their appliances away without interfering with the design of the kitchen. A  dishwashers-in-a-drawer is also convenient because it washes small loads and saves water and electricity. The order of popularity of  kitchen colors are white or off-white, brown, beige, and bone hues. Cherry wood is the most popular finish for kitchen cabinets with maple close behind. Painted cabinetry, light natural and distressed fi...
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By Edward Perez
(Sothbey's International Realty)
The best home improvements for 2010 are small in scale. The projects completed with the biggest financial gain will cost under $15,000. Whether you are a person who plans to stay in your home for a long time of time, or somebody who will only stay for a short period, there are benefits to remodeling. There is great information for all homeowners who are considering remodeling in the 2009 Remodeling Cost vs. Value Report, produced annually by Hanley Wood, LLC,Remodeling magazine and Realtor magazine. There is an interesting report that indicates that during the past four years, homeowners have been leaning towards low-cost home improvement projects. If you are looking for a home improvement project that will give you a 75 percent return of its cost, you may consider the following, a woo...
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By Edward Perez
(Sothbey's International Realty)
According to Pantone, 2010 is the year for turquoise to pop up in home décor. The vibrant blue-green color will be displayed in fabrics, textiles and home interiors during 2010. Every year Pantone surveys designers to find out what the in color will be. It has been said that many associate the color turquoise with a pleasant and inviting form of escape, such as a tropical paradise. Turquoise is a very versatile color since it goes well with any other color in the spectrum.  It will also brighten up neutrals and browns, complement reds and pinks, give a maritime look with deep blues, adds a spark to greens, and gives a great trendy look with yellow-greens. To find out what is going on in Hoboken real estate market, please go toHoboken Homes. If you have been patiently waiting to buy a H...
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By Vienna Bello, Real Estate Sales, Rentals & Consulting, GRI, SFR
(Liberty Realty, LLC)
$19 Parking In Hoboken... For 10 Minutes... AND HE GAVE ME A DISCOUNT!!!! If you're from the area, most of us have already heard the sad news.  One of Hoboken's landmarks, Barnes & Noble, is closing it's doors on March 31, 2010.  Which of course means HUGE discounts on books!  SO... I decided to stop in this afternoon and see what was left.  If you've been to our Mile Square town of Hoboken, you know available parking spaces do not exist.  Barnes & Noble has always done a 'noble' thing by validating your parking ticket if you park in the lot next door (Washington Street & Observer Highway), The Central Parking System.  If they validate you're ticket you only pay $1.00 for an hour.  I'm in the store 55 minutes, so I run out to just make my hour.  As I waited in line, waited for the guy t...
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By Brian Murray
(Prime Real Estate Group)
This Week In Hoboken Real Estate March 15-22, 2010 New To Market 78 Price Change 38 Under Contract (two weeks) 39 Sold 18 Why are the under contracts two weeks? Because it takes time for them to be processed in the system. TAX APPEAL Deadline April 1, 2010. One company who handles the appeals is taking its last applciants this Thursday at 7pm. Thinking of doing it? Better hurry Hey! Who is that good looking guy talking about the Hoboken tax appeal?
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By Edward Perez
(Sothbey's International Realty)
In January, the National Association of Realtors’ Pending Home Sales Index fell 7.6 percent from December to a seasonally adjusted 90.4, which is 12.3 percent higher than January 2009’s 80.5.  According to NAR chief economist Lawrence Yun the decrease in pending home sales is likely due to the harsh winter weather. Although, January pending sales are higher than the same time last year, they are much lower than expected. The unusually severe winter weather that affected many parts of the U.S., also had a big impact on February home sales. Yun has also predicted a rise in existing-home sales in April, May and June. With a jump in existing-home sales and sufficient job creation, housing could become self-sustaining with stable to modestly rising home prices. For more great reasons to by ...
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