Hoboken, NJ Real Estate News

By Edward Perez
(Sothbey's International Realty)
The Hoboken Condo market update for April 2011 is in and depending on whether you're buying or selling, the news can be viewed as either good or not so good.   Good news for Hoboken condo sellers: Hoboken condominiums on average are selling faster than they did during the same period last year, just 69 days in April 2011 as opposed to 82 days for all closings in April of 2010.  Additionally the overall inventory is at a historic moderate amount sitting at 378 units.   75 condos went into contract last month The current absorption rate, the rate at which all condos in market would be "absorbed" by the current pace of sale (in this case we're using the 75 units under contract in April) is now at 5 months.  This points to a somewhat "balanced" market. Interest rates remain at historic lows...
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By Joseph Covello & Mike Berney
(Liberty Realty)
Here at Liberty Realty we know that an informed customer is our best customer, so we are always working hard to not only keep our eyes on the market, but to convey that information to you as well.   New Listings this week in Hoboken: 26 Condos were listed for sale. 3 Two-Family homes were listed for sale. 1 Four Family building was listed for sale.   Sold (closed sales) this week in Hoboken: 13 Condos were sold. 1 Three Family was sold.   Pending sales (offer to purchase accepted) this week in Hoboken: 7 Condos 1 Four Family 2 Single Families   If you have any questions about these statistics, or would like further information, please contact me, Dan Fleisher, at 201-822-5222.
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By Ashok R Singh (Shoookie), Working hard for YOU UP & DOWN THE EAST COAST!
(Samson Properties)
 Ashok 'Shoookie' Singh, GRI, ABR, EcoBroker Luxury Leasing & Sales Specialist Licensed New York/New Jersey  Gotham Realty, LLC 98 Garden St Hoboken, NJ 07030 201-469-6365 (I GET BACK TO YOU FAST) 845-248-0923 (I GET BACK TO YOU FASTER) 201-601-0036 (OFFICE)   ONE MONTH BROKER FEE APPLIES      Luis Munoz Marin Blvd Hoboken, NJ 07030 Zephyr Lofts    Zephyr Loft features include:   24 Hour doorman Elevator Building Gym IN UNIT WASHER/DRYER Stainless Steel Appliances Hardwood Floors Alcove area with large windows close to Washington Street with a lot of bars and restaurants 10 minute walk to Target, A&P, and Modell's Conenient to NYC transportation     All stainless steel appliances, and hardwood floors! ONE MONTH BROKER FEE APPLIES   Beautiful living room with an alcove area AVAILABLE MA...
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By Edward Perez
(Sothbey's International Realty)
Whether you're searching for a Hoboken condo or want to see what the brownstone your standing in front of is selling for, this FREE app brings the information to the palm of your hand anytime, anywhere.  This is the only real estate app that works on standard cell phones and smart phones alike.  Plus, did I mention it's FREE! Download today!  Text: [BROWSE] to: 87778 to get my free app for IPhone, Android or Blackberry. Search all Hoboken MLS listings and view prices, square footage, taxes, features, maps, pictures and more! The "Call" feature will connect you to me if you have questions. If you need help downloading my app, please call my technical support team at Smarter Agent at 856-614-5423. If you haven't used a text code or downloaded an app before, this is a great time to learn h...
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By Brian Murray
(Prime Real Estate Group)
A Hoboken Renters Big Mistake You've heard the cliche Too Smart For Your Own Good or As easy as sliding off a greasy log backward. (Actually, I have no idea about that last one but made me laugh.) Well here is a true Hoboken tale from the front that occurred awhile back this winter. It might have been cold outside but the Hoboken rental market was heating up. Everything getting gobbled up. Prices rising faster than a gallon of gas. Landlords just waiting for people to move so they could jack up those market rate rents. One renter I know, thought they might get cute. Without doing his homework and without a lease, he asks the landlord for a reduction in the rent. Did I mention the rent was more than 10% below market. You all know the end of this story. It's bye-bye Mr. I want to save $10...
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By Edward Perez
(Sothbey's International Realty)
  Condo living in Hoboken has a lot to offer. Hoboken is filled with great restaurants and this weekend you can get a taste of some by taking part in the Magnia Hoboken Food And Culture Tour. Enjoy walking in historic Hoboken while trying some local cuisine.  "We offer a weekly walking tour that will offer residents and tourists a behind-the-scenes look at the world class food establishments that highlight Hoboken's Italian heritage." said Tour Director, Avi Ohring.   The tour will stop at many places some include: Carlo's City Hall Bake Shop, home of "Cake Boss"- The hit series is broadcasted weekly on the TLC channel   Lisa's Italian Deli- Named the best Italian deli by NJ Monthly Magazine   Grimaldi's Brick-Oven Pizzeria- Pizza made with love in a brick-oven   Empire Coffee & Tea- Th...
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Owning a Victorian brownstone home is the dream of many that live in Hoboken and the NYC Metro area. They are truly the jewels of many neighborhoods. Big, grand homes of an era gone by, now prized for being able to accommodate growing families by offering them multiple bedrooms and bathrooms, large yards and a style that blends modern touches with unique historic details. Most Hoboken brownstones can be had at a fraction of the price when compared to similar homes in Manhattan and many parts of Brooklyn. Not only can one save money but often one can save time with an even easier commute into many parts of New York City. All this without sacrificing a vibrant city environment. These Hudson Street Brownstones are some of the finest. Many have been updated with modern amenities such as gou...
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By Edward Perez
(Sothbey's International Realty)
Imagine spending the first night in your new Hoboken luxury condo.  You know, the one you've just spent upwards of $600,000 or more for.   Tired from your move and the celebratory toast from the bottle of champagne that your REALTOR gave you at closing, you look forward to the first nights rest in your new home.   As you slip into a peaceful sleep, suddenly you're awakened at 1am.   Thunk!...Bang!.....Crunch!.....Grind!....Bang!...Boom!   OMG...what the #*%@ is that!   Those my friends are the wonderful sounds of the garbage collection at your luxury condo building.   These are the sounds I experience 6 nights a week at my luxury condo.  I happen to be on the 8th floor and it's rather loud.   Now I've been a city boy all of my life and I'm not particularly sensitive to these noises. How...
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By Edward Perez
(Sothbey's International Realty)
  In the last 30 days, 66 Hoboken condos went into contract, a drop from the same period in 2010 however these numbers are going against the buying frenzy caused from the Home Buyer Tax Credit that was in effect during the spring market of last year. To me, this indicates a robust, balanced market as we have 365 condos currently for sale on the Hudson County Multiple Listing Service.  If we divide this by the 66 condos that went into contract in the last 30 days,  we have 5.5 month inventory at current sales pace (Absorption Rate). An absorption rate that's between 3-6 months is typically defined as a balanced market whereas above 6 months is a buyers market and below 3 months is a sellers market.    Here's the stats: Total contracts last 30 days: 66      -15.3% from same period 2010Av...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Real Estate Stats March 21-29 You know the market must be getting bad if one of the most well know agents in Hoboken tries to poach one of my loyal clients and a joint client party. Although her reputation often preceeds her, it is still a new low. I can only wonder if she is having problems paying for all of the renovations to her new home now that she has moved out of Hoboken. The number of condos for sale is holding steady at 375 condos. A reminder that the tax appeal deadline is April 1st. The 2010 Hoboken Real Estate Report with February Updates Is Now Available! Mar 21-29 Hoboken Real Estate Report My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are ...
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By Ashok R Singh (Shoookie), Working hard for YOU UP & DOWN THE EAST COAST!
(Samson Properties)
 A rental building at 333 River Street in Hoboken. The developer, Ironstate Development, and several other developers and brokers anticipate widespread rent increases by midyear.Renter Concessions Fading OutNew York TimesBy ANTOINETTE MARTINPublished: January 14, 2011AS the new year rolled in, the days when landlords routinely offered one month’s free rent on a one-year lease began to fade out — if they weren’t gone already.Rental building occupancy now averages well above 90 percent in all types of settings, according to landlords and brokers, who feel less of a need to offer tenant concessions.“We eliminated concessions at some of our buildings in Hoboken and Long Branch starting in August,” said Michael Barry, a principal of Ironstate Development in Hoboken, which built and manages t...
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By Ashok R Singh (Shoookie), Working hard for YOU UP & DOWN THE EAST COAST!
(Samson Properties)
Inventory is really tight right now downtown.  We're getting into the busy season, May, June, July and August--I am sure there will be more things available but right now everything is tight!  Consumers must also realize that it is way too early to start looking for apartments that are 60 days out!  I had someone call me last night looking to move in July or August and she wanted to see places.  I explained to her that anything we saw will not be available in July or August--it is extrememly too early to start looking.  I explained this to her but she was a little upset when I told her this is basically a 'sight seeing tour' for you, I have to concentrate my efforts on immediate to 30 day move ins.  I am sure she will get some to show her around (more likely a new agent without much to ...
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By Edward Perez
(Sothbey's International Realty)
It can be overwhelming when you look at all the condos for sale in Hoboken and it may leave you wondering how you will know which one is the right one for you. To help you find your dream home it is first ideal to come up with a wish list to help you with your search.   1. How Much Work Do You Want To Do? Determine if you want to purchase a home that is a fixer-upper or one that is move-in ready. Homes that need a little work done on them tend to be priced a great deal less than those homes that are move-in ready. Take the time to consider what homeownership means to you.   2.  Location! Location! Location!  When it all comes down to where you live in Hoboken, it needs to be the right location for you and your life style. The closer in proximity you are to public transit the more likely...
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By Edward Perez
(Sothbey's International Realty)
This is a fantastic perspective of where Hoboken, New Jersey is situated in relation to New York City. The grey buildings closest are the Hudson Tea Building and to the right (red and blue facade) sits Harborside Lofts.  Across the river is Downtown Manhattan. With 2 commuter ferry routes, PATH trains (our subway), and constant flow of buses zipping you through the Lincoln Tunnel from Hoboken into Manhattan,Hoboken truly is a commuters dream!   Edward (Eddie) Perez Hoboken Real Estate Blog - Stats, new listings, price reductions, news and more!! Eddie Perez, Broker - REALTORRE/MAX  Gold Coast Realty                                                                             56 Newark Street, Hoboken NJ 07030-4526 Phone: (201) 344-2886   http://www.investhoboken.com/
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By Walter Burns
(Keller Williams City Life Realty)
Hoboken Market Conditions Feb. 2011Active condos for sale: 375Total Under Contract: 144 Sold in February: 36Downtown Jersey City Market Conditions Feb. 2011Active Condos for sale: 276 Total Under Contract: 89  Sold in February: 22For the top 3 condo sales for Hoboken & Downtown Jersey City in February 2011, please visit Living on the Hudson.
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By Edward Perez
(Sothbey's International Realty)
8th - 9th St HOBOKEN, NJ Hoboken Business Opportunity – Fine Dining on Wash St! Retail/Commercial $268,000 Year Built Unspecified Sq Footage Unspecified Floors 1 Parking Unspecified Lot Size Unspecified Maint $0 per month DescriptionHot Hoboken Restaurant Opportunity awaits! Have you always wanted to own your own restaurant or have a food concept that you know would work in a prime, upscale yet charming commercial market? Your opportunity has arrived and is ready for you to start with this Washington Street restaurant with excellent growth prospects, high visibility and traffic. The place has an excellent layout and features which will allow you to start immediately or allow for a smooth transition should you have a new concept. Fully equipped kitchen and dining room is "turn-key" read...
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By Edward Perez
(Sothbey's International Realty)
Owning a home has been an American Dream for as long as anyone can remember, and even during the past few years when the economy has been down, it has still been part of the American Dream.  In fact, 67% of homes in America are owner-occupied. According to the National Association of Realtors, there are many benefits to homeownership in Hoboken. ●     It is a fact those who are homeowners are happier and healthier than those that are not. Also, homeowners have more of a feeling of control over their own lives. ●     The homeowners of America pay 80% to 90% of federal income taxes. These taxes help to contribute to numerous federal programs which benefit everyone in America. ●     Those who rent can expect to see, on average, an increase of 3% on their monthly rent each year. Homeowners ...
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By Brian Murray
(Prime Real Estate Group)
Hoboken Real Estate Stats March 1-14 The number of condos for sale is holding steady at 375 even with 70 "new to market" condos. A reminder that the tax appeal deadline is April 1st. The 2010 Hoboken Real Estate Report Is Now Available! Mar 1-14 Hoboken Real Estate Report My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are going to contract, having multiple offers, and reducing prices to be competitive. The 40 page 2010 Hoboken Real Estate Report is now available. . It's my best yet. Really good stuff. I will share over the next couple of months in this blog. Get it today for free. To anyone who reads it, leave some feedback and I will put you on the preview list ...
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By Edward Perez
(Sothbey's International Realty)
Are you an HGTV or DIY fanatic? If so, you have probably seen those episodes where they find an old cabinet at a flea market and turn it into a beautiful designer bathroom vanity or chest. If you are not familiar with this practice, it is easier than you think to recreate this look without having to pay those designer prices. You too can have those designer quality pieces you have seen in magazines and thought you could never afford in your Hoboken home for an affordable price.To start the process, you want to scour local flea markets and antique sales for just the right piece of furniture that will work in the area of your home you plan to place it in. An old dresser, large nightstand, dressing table, or desks are all pieces of furniture that are used frequently. It is important before...
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By Edward Perez
(Sothbey's International Realty)
New Jersey Chief Justice Stuart Rabner aims to protect Hoboken residents and all of New Jersey. Questionable foreclosure filings across the nation have New Jersey's Chief Justice Stuart Rabner, working to establish a set of initiatives to combat this in New Jersey. He is concerned with the increased number of foreclosure filings, and that there may be incorrect applications. He said, "It is important the judiciary system ensures that judges are not rubber-stamping questionable documents that may not be reliable."    The term "robo-signing" has been extremely popular lately; especially with the brief foreclosure halt we saw last fall. Robo-signing is when mortgage lenders and other service employees sign hundreds and thousands of affidavits that are then submitted in support of foreclosu...
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