Hoboken, NJ Real Estate News

By Edward Perez
(Sothbey's International Realty)
Today’s market can represent a real challenge to sell property. Following are several thoughts on why now is a good time to put your home on the market. 1. Although, home values are low right now, don’t feel that selling now will be a big loss. Keep in mind that the next property you buy will be at a rock bottom price. 2. There is a lot of down-payment help available for lower-income and first-time home buyers. Look for  “down-payment assistance programs” to see if you may qualify. 3. The $8,000 first-time home buyer tax credit and the $6,500 move-up credit are not the only tax credits available to help homeowners. If you have made recent home improvements don’t forget about the energy tax credits that can add to your pocketbook. 4. Most of all do not forget about the real estate profe...
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By Edward Perez
(Sothbey's International Realty)
Many real estate investors are now saying that reducing the principal on underwater loans may be the next big step to prevent more foreclosures. Banks are being requested by activists to consider principal reductions on underwater loans so the amount a borrower owes will be greatly reduced. The idea is to provide borrowers an opportunity to continue to pay their monthly mortgage payments in a timely manner. The largest lenders are starting to accept the idea even though a principal reduction can be a complicated transaction. Although, many will say that write-downs are unfair to those who continue to make their payments. It will be interesting to see if and when all of this takes place. There may be many people who are struggling to pay their mortgage but you may be one of many who are...
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By Edward Perez
(Sothbey's International Realty)
  Spacious and quiet top floor home in elevator building has both a bright east/west exposure and a convenient location that you will love. Excellent 1572 sqft floor plan has an open granite kitchen with breakfast bar, large living room, dining area and full bath on one side. At the other end, you will find a good sized 2nd bedroom and your huge master suite with luxurious bath complete with Jacuzzi, separate shower and skylight. Home has high ceilings, hardwood floors, chair and crown moldings, washer & dryer, garage parking and extra storage. Building has an exercise room and a convenient location close to NYC bus on Clinton St, Shoprite and A&P grocery stores and the light rail. This is a quality home that you will truly look forward coming home to! Email info@InvestHoboken.com or ca...
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By Walter Burns
(Keller Williams City Life Realty)
  Below is the Hoboken real estate market update for condominium sales for January 2010. All information is gathered from the Hudson County Multiple Listing Service. Active Hoboken Condos There are 505 Active Hoboken condos for sale with an average listing price of $533,102. Average days on the market: 94 Days Since January 1st, 221 new Hoboken condos came on the market for sale with an average listing price of $509,846. Active Hoboken Studio Condos: 24 condos for sale with an average listing price of $351,072. 111 days on the market. Active Hoboken 1 Bedroom Condos: 184 condos for sale with an average listing price of $382,054. 74 days on the market. Active Hoboken 2 Bedroom Condos: 245 condos for sale with an average listing price of $571,660. 99 days on the market. Active Hoboken 3+...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Open House Map Weekend of February 20,21 Launching a new service.  The Hoboken Open House Map at www.hobokenopenhousemap.com   You don't need to sign up. Just use it and let me know what you think. Sort by Price or number of bedrooms     Hoboken Open House Map Weeknd of February 20,21      
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By Brian Murray
(Prime Real Estate Group)
Tax Appeal Ready Buildings In the never ending quest to inform and educate.... I have been calling my clients and telling them about the Tax Appeal. I run their numbers through my Hoboken Tax Appeal Calculator to let them know what I find. In my journey, I've come across several large building where all owners may want to double check. I am going to be calling residents and mailing postcards. (Yes. It's probably you're building too. Still interested? I'll email you the list. ) Some really good free stuff which could help you with your appeal. 1) 2009 Hoboken Real Estate report. Hoboken market breakdowns on one bedroom condos, two bedroom condos, three plus bedroom condos. A list of every condo that sold in Hoboken in 2009! Yep. It's Free. 2)Real time Hoboken real estate snapshot. Intere...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Parking Sticker Renewals Who said curiosity killed the cat? Today on my way to the office I was passing city hall and it hit me. It's the middle of February and I haven't gotten my Hoboken Parking sticker renewal notice. There must be a mistake. A city strapped for cash delaying the bills for parking stickers. Middle of February, I must be screwed. Must have missed it. In danger of being booted. ... So I slip though the side door past the Ticket chamber where your money goes in the darkened window after a Disneyland sized wait. Of course you always get a smile and a thank you (NOT) as you pay the ticket for being one minute over on your meter or having the audacity to park in front of the school at 8:35 while dropping off your three and five year olds. Having passed the tomb and...
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By Edward Perez
(Sothbey's International Realty)
Today’s home-buyers are seeking cost-effective features and turning away things that will not last for the long term. According to Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified trends for new homes: 1. Large kitchens with islands 2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows. 3. Home offices 4. Main-floor master suite 5. Outdoor living space 6. Ceiling fans 7. Soaking tub in the master suite and/or an oversize shower with a seating area 8. Stone and brick exteriors rather than stucco or vinyl 9. Community walking paths and playgrounds 10. Two-car garages, but three-car garages are even more desirable For more great ideas for your home, please go to The best furniture picks....
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By Edward Perez
(Sothbey's International Realty)
According to the NATIONAL ASSOCIATION OF REALTORS® pending home sales have leveled due to a strong response to the home buyer tax credit. The Pending Home Sales Index is a tool that tracks signed contracts.  In December there was a 1 percent increase from 95.6 to 96.6 from the previous month. This figure is 10.9 percent higher than December 2008 when it was 87.1. Lawrence Yun, NAR chief economist, says it’s important to recognize how the tax credit is skewing market data. “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he says. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels.” To find out what is going on in Hoboken real estate market, plea...
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By Edward Perez
(Sothbey's International Realty)
Effective February 1, the Federal Housing Administration will offer mortgage insurance for certain purchases in the case of where the seller bought the property and held it for less than 90 days. This is known as the “anti-flipping rule” that could speed up sales of renovated homes in communities with an excessive amount of bank-owned and foreclosed homes. By waiving the 90-day rule may encourage private investors to purchase vacant properties, repair them, and sell them to buyers who will be eligible to buy them with FHA financing. For more great reasons to by a home in 2010, please click on The Best Time to Buy a Home is Now! Currently, there are many great opportunities to purchase a home in Hoboken for investors or for those in search of a place to raise your family who can apply t...
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By Brian Murray
(Prime Real Estate Group)
Paul Revere And The Hoboken Tax Appeal The Good News: This is the last day of this week that I will be talking about reducing your property taxes. The Bad News: I am still talking about tax appeals because not everyone is on board. I feel like Paul Revere. Being a Boston man myself, I grew up on the One if by land and two if by sea thing, the freedom trail, the old north church, and The Boston Tea Party. (not to be confused with The Boston Beer Party occurring in the wee hours of October 18th, 2004 after Dave Roberts stole second base and changed a nation forever.) The BTP was more of a protest about the taxation without representation. Most Hoboken condo owners can relate to that. Taxes go up on the condos, old Hoboken chuckles at the "interlopers" paying full freight. So here I am rid...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Tax Appeal Calculator I am so excited...and you should be too. I've been going on and on about the hoboken tax appeal. I've given tax ratios, tax rates, calculations.....Here's something even better! A spread sheet the will calculate your appeal numbers. Hey it's only an estimate and you need some reasonable comps (that's what I am here for: contact Brian Murray) So check it out. Let me know what you think. I am also posting this on my website. Hoboken Tax Appeal Calculator
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By Brian Murray
(Prime Real Estate Group)
Lowering Your Hoboken Property Tax: What It Means. So you want to lower your Hoboken property taxes via tax appeal.  Great.  What it means: Less money to the city of Hoboken. A direct correlation.  Perhaps the city raises taxes on everyone next year to amke up the shortfall.  We are not talking nickel and dimes here.  It is estimated that one building in Hoboken saved almost $170,000 in tax reductions last year.  And the building is aggressivly going after another round this year.  As Dorothy from Kansas would say: "Oh My". Think about it.  One company handled over 1,400  successful appeals lat year.  Even is the average reduction is $1,000 per year. That's $1.4MM less to the city from the one company. If the real reduction totals are more liek double that it's almost $3million in a bud...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Tax Appeal 2010  Questions I've received a lot of inquiries regarding about the appealing taxes in Hoboken. Most questions revolve around 1) Can I do it myself? 2) Is it worth doing if I am only going to reduce my taxes by $300 or $400 per year? Can I appeal my taxes without representation?  Yes.  You can also sell you home on your own, do your own taxes, fix your own plumbing, and choose to go to court without a lawyer.  If you have done any of these things or know someone who has, you'll understand what to expect.  Even if you haven't fixed your own plumbing only to have a pipe leak and cost you three times as much as it would have if you had just called a qualified professional...you probably have seen an episode of Law & Order where some know it all defends himself....  Why ...
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By Edward Perez
(Sothbey's International Realty)
Did you realize there are home improvements that cost less than $5,000 that can enhance and increase the value of your home? Following are several interesting trends for 2010: Heated floors are becoming popular since it is less expensive now than in the past and it is also an affordable luxury. The mini ‘breakfast’ kitchen is becoming popular by moving elements from the kitchen into the master bedroom. You can save thousands of dollars by stripping and refinishing your kitchen cabinets and changing the hardware and backsplash for a fresh new look. Homeowners want larger and more open showers in their bathrooms to create the feeling of a spa. Soaking tubs are also becoming popular since they are bigger and deeper. Replace your light fixtures and add overhead lighting or floor lamps. Som...
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By Edward Perez
(Sothbey's International Realty)
Too many homes have been left empty and abandoned by foreclosure and the hardest hit neighborhoods are suffering with decay. With tough economic times upon us we are seeing more deferred maintenance. Deferred maintenance takes place when homeowners put off doing regular upkeep and repair to their homes. A homeowner who may be underwater on a mortgage may not want to replace a roof or buy a new furnace for a home they can no longer afford. More evidence of the recent lack of home maintenance is that home improvement store sales have declined in 2009. Third-quarter sales at Home Depot were down 8 percent from the previous year and Lowes had a large 29.5 percent drop in earnings for the same time period. Deferring maintenance of a home will only make it harder to sell and will negatively ...
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By Edward Perez
(Sothbey's International Realty)
The Pantone Color Institute has recently announced eight new sets of coordinated colors, for home décor. A sample of the new palettes are: Greenmarket, which includes Apple Green, Super Lemon, Peach Blossom and Vanilla Ice Gatherings, which includes Copper Coin, Lion, Smoke Blue and Twilight Mauve Pastiche, which includes Mimosa, Lavandula, Tangerine and Bright Cobalt To save money designers suggest adding new colors to a basic decor that’s already in place to help you save on any extra expense. For more great ideas for your home, please go to The best furniture picks. If you have been patiently waiting to buy a Hoboken home, now is the time to do it. 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 ...
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By Eric J, Dream Home Financing
(Eric J - Dream Home Financing)
Hudson County Mortgage Loans and Lenders If you are planning to buy your dream home or refinance in Hudson County, then please allow a Hudson County Lender such as Dream Home Financing the opportunity to help you to get the best combination of low mortgage rates and fees in Hudson County. We have access to some unique programs to satisfy everyone. Self employed borrowers in Hudson County can benefit from stated income loans.  Borrowers with low credit scores can get an FHA mortgage loan in Hudson County with scores as low as 500! Find out how we can help you finance Hudson County Foreclosures. Your first step is to contact us either by phone or by completing a FREE QUOTE form so we can fully assess your needs and call you with some options. If you are planning to shop for a home, we ca...
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By Brian Murray
(Prime Real Estate Group)
Inside Hoboken Real Estate Salutes Ground Hog Day Punxsutawney Phil has nothing on Open House Oliver. It's like the Bill Murray movie. Let's go see open houses, over and over and over again. Sometimes I'm lucky enough on a slow day to get OH Oliver to wander into my open house. The conversation goes something like this... me: How are you doing today? OHO: Fine. me: So, have you see a lot of places? OHO: about a hundred. me: That's a lot of places. How long have you been looking? OHO: Five years. me: wow. In five years have you found anything you liked. OHO: No. they are all over priced. me: So where are you living now? OHO: In my mother's basement. I'm getting tired of living with my stuff raised a foot off of the floor so it won't get flooded. me: That's right. Didn't we talk three yea...
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By Edward Perez
(Sothbey's International Realty)
Following are several helpful tips to get your home to sell quickly with the help of good photographs: It is critical to hold the camera straight. The use of a tripod is also a good idea. An exterior shot is best when it is taken a half -hour before or after sunset. Also, be sure to keep all the interior lights turned on while photographing the outside The exterior is the most critical photo because that’s the photo that tells the story that will convince a buyer to look at the interior photos. Illustrate the home’s strongest selling features in individual attractive photos to keep a potential buyer’s interest.  To find out what is going on in Hoboken real estate market, please go toHoboken Homes.            Currently, there are many great opportunities to purchase a home in Hoboken. P...
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