Thanks to the American Recovery and Reinvestment Act of 2009, formerly known as the “stimulus bill,” first-time home buyers are eligible for a refundable tax credit of up to $8,000 this year. Here is what you need to know in order to claim the credit. Who qualifies as a first-time homebuyer? A “first-time homebuyer” is anyone who has not owned a house in the past three years. Furthermore, if you don’t live in the house purchased this year for the three years following the purchase, you will have to pay the credit back to the government. This credit is intended for people who live in their own houses, not house flippers or speculators. What is a refundable tax credit? When tax professionals and the IRS talk about “refundable tax credits,” they do not mean that you have to pay the credit... 06/27/2009

“The Oz” located at 70 Adams St in downtown Hoboken, NJ is only minutes from the PATH, ferry and train. This 54 unitconcrete and steelstructure was built by Metro Home LLC in 2003. Open layouts with beautifully designed kitchens and bathrooms make this building one of Hobokens premier residences. All the units feature hardwood floors, crown and chair rail molding. This elevator luxury building has a full gym, and on-site parking. If you would like to take a tour of The Garden Street Lofts, or for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert. 06/27/2009

Back to a typical week for closings and pending contracts.   Weekly statistics 6/14/09- 6/21/09 13 condos went into contract last week, down from last weeks report of  20 units 7 condos closed last week. 7 closings the previous report. As of today, there are a total of 179 Hoboken properties pending to close (178 last week).   Here are last weeks deals… Firm accepted offers: Studio & 1 bedroom 4 accepted offers (7 last report) These averaged 71 days on market. 2 bedrooms 9 condos had accepted offers  (12 last report) Average days on market for this group was 137. 3-4 bedrooms: 0 accepted offers (1 last report)           Sold Condos:   Studios & 1 bedroom: 1 unit sold  (2 last report) Listing price was $379,000.   Selling price was $407,000  This sold OVER asking price by 7.3% Days on m... 06/22/2009

Browse to see if the perfect place for you is here! 28 new condo listings (26 last week).  There were not any new 1-4 Family homes listed last week. 48 total price reductions: 46 condo price reductions (26 last week) (2) 1-4 family homes  (5 last week) Studio condo 0 new listings  (0 last week)     0 price reduction.  (0 last week)        1 bedroom condo 3 new listings starting at $279,000  (12 last week) 13 price reductions  (6 last week)   2 bedroom condo 18 new listings starting at $359,000 (21 last week).  28 price reductions   (17 last week)  3 + bedroom condo 7 new listings starting at $540,000  (7 last week)   5 price reductions  (2 last week)  1-family homes 0 new listings  (0 last week) 2 price reduction.  (2 last week) 2-4 family homes 0 new listings.  (0 last week)   0 price... 06/19/2009

What’s this crazy talk of New Jersey real estate may have hit or is near the bottom?   Check out this article in The Star Ledger.  Jeffery Otteau, founder of the Otteau Valuation Group who was calling the NJ real estate bubble years before it popped is now saying we may have hit the bottom. Click here for Star Ledger article We may or may not be there yet however hitting these peaks and valleys are always identified AFTER they have passed. Often times months if not years afterwards. Ask yourself this question.  When was the absolute peak of the Hoboken market?  No one can say definitively because when we look at the high prices they varied from building to building from around fall of ‘05 to to around early ‘08. Nobody rang a bell when we hit the top and I doubt anybody is going to rin... 06/19/2009

  Ted Schirm of Met Life Home Loans offers these reasons on why now may be a great time to move forward with a home purchase. Experts are starting to say that we could be entering the bottom of the housing market as a whole.  A good first step.  I have been hearing of activity in the suburbs. Most of the movement has been in the first time home buyer segment. Nothing documented but a buzz among my co-workers. What we have right now is a good version of a”Perfect Storm”…there are several factors in place that will help people to buy homes. RATES ARE STILL HISTORICALLY LOW – While we have not gone back to the 4% range we are still well below 6%.$8000 TAX INCENTIVE FOR FIRST TIME HOME BUYERS – This has been creating quite a buzz amongst first time home buyers. There are income restrictions... 06/19/2009

I mentioned last week that my office seemed to be getting busier but we would have to wait and see if the activity would translate into actually accepted offers.  The results are in and we had a noticeable gain in firm accepted offers. Weekly statistics 6/07/09- 6/14/09 20 condos went into contract last week, up from the 13 units in the previous report. 7 condos closed last week. 7 closings the previous report.   As of today, there are a total of 178 Hoboken properties pending to close (154 last week).   Deals are being made!!!  Here are last weeks. Firm accepted offers: Studio & 1 bedroom 7 accepted offers (2 last report)   These averaged 77 days on market. 2 bedrooms 12 condos had accepted offers  (10 last report) Average days on market for this group was 73. 3-4 bedrooms: 1 accepted... 06/17/2009

The past year, of course, has seen an explosion of new loan modification and debt consolidation companies. The new industry shares some similarities with the mortgage took advantage of people to maximize commissions. You can almost imagine a scenario where the guy who made five percent commission on your loan and stuck you with business five years ago, when the lure of a fast buck drew plenty of good, honest people but even more people who a prepayment penalty on a loan that adjusted after one month is now on the other end of the phone offering to help you get your loan modified. Before you pay anyone, check out what might be available to you through Making Home Affordable and talk to a HUD-approved counselor.  Unless you are given reason to believe that a lawyer or a loan mod company ... 06/13/2009

Homeowners facing foreclosure often have the option of selecting a short sale or a deed-in-lieu of foreclosure as a possible solution to their financial difficulties. But are they? Which is the best choice? Like most alternatives, both have their upsides and their downsides. Understanding these options is the only way to make a truly informed decision. When you decide to use a short sale to prevent foreclosure, you should understand that the sale must have the lender’s approval and that lenders don’t always agree. What the lender is doing when he accepts, is permitting you to sell your home for less than you owe him and taking the loss himself. If he does go along with the short sale, it will relieve you of the burden as well as the cost, emotional strain and embarrassment of a messy f... 06/13/2009

New Jersey Credit Repair National Credit Fixers: 330 Roberts Street 4th Floor East Hartford CT 06108 phone: 860-282-6181. National Credit Fixers boasts of 13 years experience repairing low FICO scores. Whether your credit has been damaged by a foreclosure, bankruptcy, slow credit, collections, judgments, repossessions, etc. we can help. We are the experts in credit restoration and credit repair. We have helped numerous residents of New Jersey and are experts in New  Jersey credit repair. Looking to hire a credit repair firm?  I would like to interview for that job.  I have been doing credit repairs for over 13 years!  I use a combination of bureau disputes and creditor negotiations to achieve superior results for my clients. If you are in the market for a credit repair firm - please giv... 06/11/2009

Same, same!  Market contracts up from previous week but closed sales down.  Our office is definitely getting busier with more buyer interest.  Let’s see if that translates into more deals being consummated! Weekly statistics 5/31/09- 6/07/09 13 condos went into contract last week, up from the 7 units in the previous report. 7 condos closed last week.  11 closings the previous report.   As of today, there are a total of 154 Hoboken properties pending to close (152 last week).   Here are the deals of last week….. Firm accepted offers: Studio & 1 bedroom 2 accepted offers (2 last report) These averaged 145 days on market. 2 bedrooms 10 condos had accepted offers  (4 last report)  Average days on market for this group was 124. 3-4 bedrooms: 1 accepted offer (1 last report)   47 days on mar... 06/08/2009

1. Choose A Home Inspection Company With Top Credentials

 As a first time home buyer you have goals, you want to be well informed, and you want to make a wise investment. Choose a home inspection company that understands your needs and will work with you to help you meet your goals. If you want your home inspection conducted by a Licensed Professional Engineer (P.E.), be sure that your home inspection report will be stamped with the home inspectors licensed P.E. seal. The practice of engineering is State regulated and licensed; the P.E. seal on the home inspection report is the key to your protection. 2. Don’t Pay Twice For A Home Inspection

 First time home buyers who retain the services of a home inspector who is not a P.E., may be faced with paying a second home inspection fee if ... 06/05/2009

Real estate buyers often see condo purchases as appealing options these days. Not only are they affordable, they are great for first time buyers and those looking to retire from the hassles of yard work, and caring for a large home. Condominiums also tend to offer extra perks such as swimming pools, gyms and other amenities many single homes do not. What is a Condominium? A condo is sort of like an apartment where each unit is individually owned. The units are generally grouped together, often sharing one or more walls. Though the “unit” is owned individually, the grounds and structure of the complex is owned jointly. An association is set up by the owners with the intention of providing for the overall maintenance. Sometimes, this association is managed by an outside company for a fee... 06/05/2009

Up one week, down the next!  That’s the seesaw type of market we are in.   Weekly statistics 5/24/09- 5/31/09 7 condos went into contract last week, a drop from the 17 units in the previous report. 11 condos closed last week.  14 closings the previous report.   As of today, there are a total of 152 Hoboken properties pending to close (150 last week).   Here are the deals of last week….. Firm accepted offers: Studio & 1 bedroom 2 accepted offers (4 last report)        Click Here to View Listings These averaged 96 days on market. 2 bedrooms 4 condos had accepted offers  (13 last report)           Click Here to View Listings Average days on market for this group was 76. 3-4 bedrooms: 1 accepted offer (0 last report)      Click Here to View Listings  This a newly constructed unit. Sold Con... 06/02/2009

Hope everyone has a fantastic Memorial Day weekend.  This could be a nice long weekend for house shopping!   Here are this weeks newest listings and price reductions. 26 new condo listings (28 last week) and 2 new 1-4 Family homes (3 last week) hit the Hoboken market.   30 condo price reductions (44 last week)  1-4 family home had a price reduction  (3 last week) Check them all out. Studio condo  new listings  (1 last week)     2 price reductions.  (1 last week)       Click Here to View Listings 1 bedroom condos 12 new listings starting at $314,900  (8 last week)     Click Here to View Listings 9 price reductions  (13 last week)        Click Here to View Listing  2 bedroom condos 14 new listings starting at $315,000 (17 last week).      Click Here to View Listings 16 price reductions  ... 05/30/2009

Finally some increased buying activity.  We saw nice gains in both pending contracts and closed sales.  Like we mentioned last week, the best way to take advantage of a buyers market is to BUY!!!    Weekly statistics 5/17/09- 5/24/09 17 condos went into contract last week, a nice gain from the 11 units from the previous report. 14 condos closed last week.  4 closings the previous report.  Another noticeable gain! As of today, there are a total of 150 Hoboken properties sales pending to close (140 last week).   Here are the deals of last week….. Firm accepted offers: Studio & 1 bedroom 4 accepted offers (3 last report)       Click Here to View Listings These averaged 106 days on market. 2 bedrooms 13 condos had accepted offers  (7 last report)          Click Here to View Listings Averag... 05/27/2009

Hope everyone has a fantastic Memorial Day weekend.  This could be a nice long weekend for house shopping!   Here are this weeks newest listings and price reductions. 26 new condo listings (28 last week) and 2 new 1-4 Family homes (3 last week) hit the Hoboken market.   30 condo price reductions (44 last week)  1-4 family home had a price reduction  (3 last week) Check them all out. Studio condo  new listings  (1 last week)     2 price reductions.  (1 last week)       Click Here to View Listings 1 bedroom condos 12 new listings starting at $314,900  (8 last week)     Click Here to View Listings 9 price reductions  (13 last week)        Click Here to View Listing  2 bedroom condos 14 new listings starting at $315,000 (17 last week).      Click Here to View Listings 16 price reductions  ... 05/23/2009

Here are the final numbers for April 2009 compiled using the Hudson County Multiple Listing Service. The numbers are showing the effects from the challenges that the local real estate markets have been facing.   The bright spot is that buyers that are participating (you have to participate to take advantage) in this buyers market are finding affordability fantastic, mortgage rates at historic lows, excellent selection / quality and negotiating possibilities off of the list prices. To be a “buyer”, one has to actually buy!  Check out the stats:   April 2008 April 2009 Comparison: Units Sold: 76 38 -50% Avg. Price: $564,915 $433,107 -23.3% Median Price: $549,900 $422,500 -23.1% Pending: 80 49 -51.2% April 2009 Sold Condominiums: 39   High Low Average Median Total Price Listing Count List... 05/20/2009

We seem to be keeping about the same pace for contracts signed and for closings.  This indicates a market where the smart deals are being snapped up by savvy buyers but where the overall market is still rather tame. What’s exciting are all the great deals out in the marketplace, the fantastic interest rates, the first time home buyers credit (expires end of this year) and the quality of many of the homes.  Anyway, here are the stats! Weekly statistics 5/10/09- 5/17/09 11 condos went into contract last week, up just slightly from the 9 units from the last report. 4 condos closed last week.  3 closings the previous report. As of today, there are a total of 140 Hoboken properties pending to close (133 last week).   Here are the deals of last week….. Firm accepted offers: Studio & 1 bedroo... 05/19/2009

We are in a buyers market but you have to actually “buy” in order to participate.  There are lots of great deals out there and folks are getting really nice properties at really good prices.  Come join the fun  Check out this weeks newest listings and price reductions. 28 new condo listings (33 last week) and 3 new 1-4 Family homes (2 last week) hit the Hoboken market.   44 condo price reductions (35 last week) (3) 1-4 family homes had price reductions  (3 last week) Check them all out. Studio condo 1 new listings offered at $435,000 (0 last week)    Click Here to View Listings   1 price reduction.  (1 last week)      Click Here to View Listings 1 bedroom condos 8 new listings starting at $299,000  (14 last week)     Click Here to View Listings 13 price reductions  (9 last week)       ... 05/16/2009