Saturday, July 25, 2009
The word from Old Hoboken....Camarrano Lives. Only time will tell. In the chance that things don't go his way...It will be tough to sell that brownstone. According to the second quarter real estate report, They just aren't selling.
A good article on the market.
The most important information in this article is not the increase in home sales but the new appraisal standards. Not surprising when the government gets their hands on things. I have a client in downtown Jersey City who just tried to refi and the appraiser used comps from Journal Square. Shockingly the appraisal came in 67% of what it should have.
Lesson: Even if you are doing a refi, contact your realtor. You can get a set of comps that will help your out of town appraiser do his job and maybe get you your loan.
Hoboken Real Estate Condos
Information deemed reliable but not guaranteed