Home For The Holidays

Back from the endless Christmas. I can't eat another thing. Been stuck in the food coma for three days. The Holidays. Either your going to someone's home or they are coming to yours or both. These are the days your glad you have that third bedroom and that second bathroom. It's like the phone company. Capacity is so over built, you only have problems on mother's day. The rest of the year the system can handle twice as many calls as we out through.

Keep that in mind when Eyeing that spare bedroom for the relatives. It's an office 360 days a year.

Hoboken Real Estate

December sneak peek Condos sold
2007 65

2008 23 to date

Information deemed reliable but not guaranteed

The Weather Outside is Frightful.

Despite the glowing reviews of Hoboken411 the Tax revolt rally was a bust. By my estimates there were about three hundred people at the rally. I'm no expert when estimating crowds but it was cold and I had time to kill so I basically counted them.

Ok. So three hundred people give a damn enough about getting it in the shorts by city hall to actually show up. Good thing more people didn't come though. Talk about mismanagement that would make it hall proud.

Imagine a person with a megaphone (I'm not making this up.) giving a speech that would cut in and out as the various orators addressed the crowd on the left and then on the right alternately. No one is going to accuse these groups of being political. They had all the organization of a Hillary Clinton caucus effort.

Then I guess the proceeding moved in side. Not about to waste my time having a bunch of powerless people yell at the mayor and city council. Maybe it makes them feel good but accomplishes nothing....

One more time. Real change comes with a rallying candidate. A candidate or slate of candidates from outside the political machines. A candidate who can rally several thousand for a MARCH ON CITY HALL. Shut down Washington Street for an hour with a speech that has chants. "CLEAN UP CITY HALL". or "What Do We Want? LOWER TAXES! When Do We Want It? NOW!"

Lots of people have to be motivated and unified to beat the machine.....

Meanwhile my mortgage company will be sending my taxes in per usual.

Hoboken Real Estate
1 Bedroom Condos
Active 161
Under Contract 23
Sold last 3 months 65
Information deemed reliable but not guaranteed

Lessons Learned

Went to the NJ Realtor conference last week....

The presenters covered a wide range of topics from Short Sales to Going Green. Overwhelmingly, the presenters were upbeat about one thing: There is so much opportunity in a down market.

The guy who does "Flip This House" on A & E was practically drooling as he talked about his company's national expansion plans. The basic principal is buy low, have a system, make your house the best on the market for the lowest price. BAM. The guy is killing it.

Short Sales: Cash is king. If you can pay cash, the banks are practically giving some of these houses away. The caveat: Most need work.

Hoboken Real Estate
Condos
Under contract December
1 br 2
2 br 10
3 br 2
Information deemed reliable but not guaranteed

A Long December

Just peeking back at November's year over year numbers....maybe we shouldn't. Sales off over 40%! Days on the market up over 80%! If you think this is ugly, just wait for the December numbers to start trickling in. Not a surprise to anyone who is alive.

A long december and theres reason to believe.

Maybe this year will be better than the last.

I cant remember the last thing that you said as you were leaven

Now the days go by so fast.

And its one more day up in the canyons.

And its one more night in hollywood.............

Hoboken Real EstateCondos
November 2007 vs. 2008
Sold 64 vs. 37
Median DOM (solds) 39 vs. 62
Median Price (solds) $493k vs. $515k
Information deemed reliable but not guaranteed

Whoville?

Then he slithered and slunk, with a smile most unpleasant,Around the whole room, and he took every present!Pop guns! And bicycles! Roller skates! Drums!Checkerboards! Tricycles! Popcorn! And plums!And he stuffed them in bags. Then the Grinch, very nimbly,Stuffed all the bags, one by one, up the chimney! Then he slunk to the icebox. He took the Whos' feast!He took the Who-pudding! He took the roast beast!He cleaned out that icebox as quick as a flash.Why, that Grinch even took their last can of Who-hash!

Sound familiar taxpayer?

All those peons. Those insignificant know nothings. How dare they think they can hold a rally against the political machines that make The Grinch seem like Mother Theresa.

Rally if you will. Nothing will come of it. gather round, hold hands sing songs. The political machine will work its magic:

Accuse the rally of being "political". .. And if a true outside reform candidate should appear like Michael Bloomberg riding a white horse down from the heavens.... The machine will stuff those ballot boxes... They've done it in the past according to machine's own members.

See you there on Wednesday. http://www.hobokenrevolt.com/ Now I'm not betting on a Chicago '68 type of response by the establishment, but I'm bringing my gas mask just in case.

Gotta get down to it.

Soldiers are gunning us down.

Should have been done long ago.

What if you knew her

and Found her dead on the ground?

How can you run when you know?

Hoboken Real Estate

Condos Available 509

Information deemed reliable but not guaranteed

Going. Going. Not Gone.

We are starting to see more auctions taking place here in Hudson County. Buyer beware. Sometimes these are marketing gimmicks and sometimes you can get a good deal.

Below are some upcoming auctions. My strong recommendation is to call and register through your agent and not the auction house direct. Here's why:

1) Your agent will know the reputation of the auction house.

2) Your agent will know whether it is a gimmick or not.

3) Your agent can give you real time analysis of the current market value.

4) Your agent can give you property history.

5) Your will often know the general condition of the property.

6) Your agent is your advisor and can let you know how the property fits within your real estate investing strategy.

*NEW JERSEY INVESTMENT OPPORTUNITIES**AUCTIONS!DECEMBER 14TH - 15TH * *Below Market Rent – Great Upside Potential!**20 Studio, One and Two-Bedroom Condominiums**The Kennedy Boulevard Condominiums**2520 Kennedy Boulevard, Jersey City, NJ*Eight to be Sold ABSOLUTE REGARDLESS OF PRICE.The condominiums are situated in an elevator building and feature high ceilings, large living rooms and bedrooms, eat-in kitchens, and ample closet space. Many condominiums have been fully renovated.***Click Here for More Information * <http://server1.streamsend.com/streamsend/clicktracker.php?cd=4585&ld=116&md=358&ud=9a43c15524de64d0ff1f87471ed3097c&url=http://www.sheldongood.com/kennedyblvd.php>

*Below Market Rent – Great Upside Potential!**20 One and Two-Bedroom Condominiums**County Park Towers Condominiums**331 79^th Street, North Bergen, NJ*Six to be Sold ABSOLUTE REGARDLESS OF PRICE.Perfectly situated across from James J. Braddock Park, this building offers both newly renovated and tenant occupied units. Building features include laundry room, new security intercom system, and outdoor patio.*****Click Here for More Information <http://server1.streamsend.com/streamsend/clicktracker.php?cd=4585&ld=116&md=358&ud=9a43c15524de64d0ff1f87471ed3097c&url=http://www.sheldongood.com/countyparktowers.php>*

*Prime Residential Development Opportunity**Previously Approved for 31 Single-Family Homes**Hidden Lakes Estates, Liberty Township, NJ*This 196-Acre site is zoned R-1 and R-3. Previously approved for a subdivision of 31 single-family homes with generously proportioned sites - the majority of the site improvements completed. Convenient to I-80, the site provides excellent access to Central New Jersey and New York.*Click Here for More Information

<http://server1.streamsend.com/streamsend/clicktracker.php?cd=4585&ld=116&md=358&ud=9a43c15524de64d0ff1f87471ed3097c&url=http://www.sheldongood.com/hiddenlakes.php>* *27-Unit Apartment Building**Immediately Adjacent to 645 Bergen Avenue -A considerable benefit for owners when managing multiple properties.**118 Jewett Avenue, Jersey City, NJ*A handsome, vintage apartment complex, this four-story building offers twenty-seven units consisting of two and three-bedrooms. Current annual income is approximately $224,436; offering significant upside potential. All units are separately metered for electric and cooking gas. 85% of the units are currently leased.*Click Here for More Information

<http://server1.streamsend.com/streamsend/clicktracker.php?cd=4585&ld=116&md=358&ud=9a43c15524de64d0ff1f87471ed3097c&url=http://www.sheldongood.com/jerseycityapts.php>* *33-Unit Apartment Building Located in McGuinley Square**Immediately Adjacent to 118 Jewett Avenue **-A considerable benefit for owners when managing multiple properties.**645 Bergen Avenue, Jersey City, NJ*Classic, four-story apartment building offers thirty-three units consisting of one, two and three-bedrooms. Current annual income is approximately $274,860; offering significant upside potential. The property also contains a parking lot with approximately 12 parking spaces. All units are separately metered for electric. 97% of the units are currently leased.*Click Here for More Information

<http://server1.streamsend.com/streamsend/clicktracker.php?cd=4585&ld=116&md=358&ud=9a43c15524de64d0ff1f87471ed3097c&url=http://www.sheldongood.com/jerseycityapts.php>* *Six-Unit Apartment Building**To Be Sold ABSOLUTE REGARDLESS OF PRICE**185 Beacon Avenue, Jersey City, NJ*A handsome turn-of-the-century greystone, this three-story building offers six, two-bedroom, one-bath units. Fully occupied, the building falls under rent control ordinances. Current annual income is approximately $17,535; offering significant upside potential. All units are separately metered for electric and cooking gas.*Click Here for More Information <http://server1.streamsend.com/streamsend/clicktracker.php?cd=4585&ld=116&md=358&ud=9a43c15524de64d0ff1f87471ed3097c&url=http://www.sheldongood.com/jerseycityapts.php>*

Hoboken Real Estate

Condos

Under contract since Thanksgiving 11

Information deemed reliable but not guaranteed

It's All In Your Head.

It May Be Time to Think About Buying a House according to the New York Times.

http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?no_interstitial

Buying in today's market is about a mind set. If you are holding for the short term (3 years or less)it is a gamble as to whether the market goes up or goes down. The fact is people are usually in a place for more time than planned. This goes for furniture too. Don't buy junk thinking you'll only have that couch or chair for a couple of years. You look around one day and that ratty old couch with the mustard stains on the arm has been with you a decade.Buy something a little nicer, you won't be sorry.

Here's the mind set of you get with owning.

1. Permanence. A feeling on putting down roots.

2. Pride in ownership.

3. Caring for the place you live and treating it like your own and not some motel room.

4. Neighbors, fellow owners who care the building and have a vested interest.

Hey. It's called the American dream for a reason. . The lunatic is in my head. ....There's someone in my head but it's not me.

Hoboken Real Estate Condos
Listed Since 9/1/2008
Sold 22

Information deemed reliable but not guaranteed

4.5% is not enough.

It's being reported that the latest installment of the government bailout is nudge the markets to a 4.5% mortgage interest rate. Given that the rate is about 5.5% today that equates to about $61in savings for every $100k borrowed. So a $500k mortgage will be reduced by $305 per month. But that $600k home will have taxes around $8,000 in 2007 and ...wait for it....$11,760 in Mayor Robert's 2008.

Your net loss $100. The government giveth, the other government taketh away to pay for multiple and redundant services.


Hoboken Real Estate
Single Family Homes
Available 22
Information deemed reliable but not guaranteed

Rental Pitfall

Thanks to Hoboken411 for letting people know that 800 Madison is messing with renters. Seems the Certificate of Occupancy hasn't been issued and those poor souls who had planned to move in on the first of the month are sleeping on the sidewalk.

The truth is that whether you are a renter or buyer, you take a big risk with new construction and move in dates. Usually, the contract obligates the buyer/renter without obligating the seller/landlord. It's the nature of the beast. When at the whim of the city inspectors, timeframes sometimes slip. Heck I recommend that buyers always add three months to the date a builder tells them. Rentals are harder because renters usually have to commit to move out dates.

My advice. Buy don't rent if you want a guarantee or rent a vacant place.

Hoboken Real Estate Condos,
Available 515
Expired last 60 days 56
Information deemed reliable but not guaranteed

Holy Storage Space, Batman!

Growing up, Dave Barry was a favorite of mine. I couldn't wait to read his weekly syndicated humor column. I especially liked his "I'm not making this up" articles. So here's to you Dave...

I'm sitting at an open house on a day of freezing wind and driven rain. A lot of time on my hands. I don't usually get past the Hoboken Reporter's articles on the fighting and sheer ineptitude of Sir Roberts and his Merry Court but today I was rewarded for my persistence....

In the Police Beat section. (For the New York readers or the LA readers, NO...this is not what I was referring to regarding "you can't make this up", but a two-fer is always nice during the Holidays.) Seems a woman on 9th and Willow claims to have left $80,000 worth of comic books in a box in the unsecured completely accessible storage area off of the laundry room. Seems the storage area was a free for all (no locks, no gates, no nothing.)

Storage areas come in all sizes and shapes. My recommendation: Don't put anything in it that you can't live without. Family Heirlooms. No. Jewelry. No. A box of comic books worth $80 or $80,000. No.

I can just see the scene now at the woman's insurance company's holiday party. Her claims processor telling this story to his colleagues. To quote said claims processor "She has a better chance of becoming mayor than getting paid on this one."... Heck, she might be over qualified by the current standards.