Bailout?

The Big Three has a new meaning. It's the number of condos under contract in the past week.

1001 Clinton 5D Offered at $539k DOM 13

402 9th St #E2E Offered at $479k on 1/1/09, reduced to $469k on 2/12/09 DOM 74

304 Hudson #4 Offered at $685k on 9/15/08, reduced to $638,500 on 11/13/08, reduced to $599,999k on 3/20/09 DOM roughly 188.

We're not gonna take it....So after my quest for an HVAC contractor, I've turned to moving companies. This was quick and easy. I called Flat Rate for a quote. They made and appointment and even sent me an email confirmation. Now we're cooking with gas, or so I thought. The appointment was for between 2pm and 2:30 Tuesday. At 3:15 the guy calls me to say he is running late and can't be there until some time after 4pm. (Where have i heard this story before.) I said, in my best Paulie Walnuts voice, "forgettaboutit". The other quote came from Hoboken's own Morrissey. The owner shows up, on time, gives me a quote, a copy of his insurance, and a state mandated pamphlet on movers. (apparently all are not reputable.) They are coming Monday.... I will keep you posted.

No. that is not a pledge pin on my uniform.

Out Of Work? Become A Contractor.

www.hobokenhomefinder.com

HVAC, that is. swimming pools and movie stars. That's all I can figure out from my experience with trying to get an HVAC installation. Here's the story. (See the contractor clowns post of 1/1/09 for background. )

I first tried Service Magic for an HVAC contractor. I've used them to get other contractors before with decent results. ... I get the three names. The highest rated calls and never shows. Number Two calls, calls back a day after his scheduled appointment and can't remember when it was. Number Three calls, shows up says he'll send an estimate, calls two weeks later to see if I still want the estimate, then shows up at my door at 8am one morning a month after that with an estimate that looks like he put it together is less than a minute while sitting in front of my house.

And as the late Paul Harvey used to say... Here's the rest of the story....

So you can imagine that I wouldn't use these first three guys if they promised to do it for free.... So being a realtor I get three recommendations from people in my office...

Number 4: I call him. He says he will call back in the evening. Doesn't. I call two days later. He tells me he is on a job out of town and that I should call back in them middle of next week because he will forget again!!!!

Number 5: Recommended by a home inspector. The office makes the appointment for between 12 and 4 on a Tuesday. (I guess they think they are the cable company.) At 4:30 the guy calls me to tell me he is running late. (Maybe they are the cable company.) I reschedule for the next week. He shows up, spends five minutes, informs me that his company just does the hvac but not the electrical or plumbing, and he will send me a quote the next day. Still waiting on the quote.

Number 6: I sent in an email request on a Friday night. The rep calls Sunday to make an appointment for the next week. The appointment was for 1pm. The office calls at 12:45 to let me know the rep would be a few minutes late. The rep is the owner of the company. He spends a couple of hours answering my questions, measuring rooms, drawing diagrams, providing written information about the company and service guarantees and giving me a detailed quote. Not an estimate. His price is about 30% more than the clowns.

#6 also tells me that HVAC is the second most popular trade taught in prison. (all making sense now) Which guy am I going with? that's right. The guy who will save me money in the end.

Hoboken Real Estate

Condos Available 523
Under $500k 244

Information deemed reliable but not guaranteed

A Customer For Life.

I was in the Dunkin Donuts this morning and saw a text book case of losing a customer. A woman had been waiting for a long time for her egg sandwich. The staff kept telling her one minute. She hit the wall and asked for her money back. (She also had a coffee.) The staff gave her her money back for the sandwich and charged her for the coffee. She was pissed. She gave the coffee back and got all of her money back. Come to find out, she goes there several times a week. Do you think she'll ever be back? All over not giving her a free sandwich and coffee and maybe a few coupons. ugh.

Under contract since last week's post:

1) 502 Jefferson offered at $539k on 11/6/08, reduced to $499k, on 12/26/08. DOM approx 105.

2) 400 9th St #w3c offered at $399k on 2/12 /09 DOM 31.

3) 113 Madison #2e offered at $599k on 2/4/09 reduced to $572, 500 on 2/18/09 DOM 35.

4) 207 14th #3F offered at $385k on 1/28/09 DOM 46

5) 119 Madison #4w offered at offered $499k on 1/29/0, reduced to $489k on 2/1/09 DOM 46

6) 706 willow #4R offered at $349k on 1/14/09. DOM 59

7) 1300 grand #612 offered at $488,888 on 1/16/09 reduced at$468,888 on 2/2/09 DOM 61

8) 2 Constitution ct #1203 offered at $1,258,990 1/9/09 reduced to $1,085,000 on 1/31/09 DOM 66

9) 358 6th St #1L offered at $299k on 1/26/09 reduced to $269k on 2/24/09 DOM 69

10) 700 1st #12a offered at $539k on 11/14/08, reduced to $524k 12/30/08, reduced to $505,888 on 2/5/08 dom 122.

11) 839 willow# 6 offered at $349k on 11/4/08, reduced to $339k on 12/9/08 DOM 135

12) 128 Jackson #3c offered at $355k on 10/27/08 reduced to $340 on 12/4/08 DOM 139

13) 211 Jefferson #4 offered at $479k on 10/14/09, reduced to $459,900 on 10/27/080, reduced to $439k on 1/13/09 DOM 155

14) 700 1st #2J offered at $549,900 on 8/8/08, reduced to $539,900 on 10/3/08, reduced to $524k on 10/20/08, reduced to $515 on 11/12/08, reduced to $499k on 2/5/09 DOM 223

15) 717 Willow #3 offered at 4489,900 on 5/1/08, reduced to $469,900 on 8/26/08, reduced to $445k on 2/4/09, reduced to $415k on 2/27/09. DOM 317.

Time to make the Doughnuts...

March Madness

A good article, thanks to Mike for sharing.

http://www.cnbc.com/id/29772962

Here we are. The brackets all filled out. Imagine if this were a real estate bracket instead...

Who is going to win?

Fannie Mae higher cost vs. Home Buyers credit.

Low interest rates vs. tougher mortgage standards.

Value properties vs. job insecurity.

You have as much chance of getting the whole real estate thing right as picking your whole bracket right. That's why they give a million dollars to anyone who can.

Go Blue. First time since before the housing boom!

Hoboken Real Estate Condos

New today 23

Under contract 1st 15 days of March 15

Information deemed reliable but not guaranteed

FSBO MLS. Real Smart?

Flat fee MLS services. The ones where you pay a company a flat fee and they put your home on the MLS. You still pay a buyers commission. You still have to show it and you still have to price it. Some sellers think this is a good way to save money. The problem is the flat fee company has no skin in the game. As a seller's agent, a realtor works on commissions paid when the property sells. In this market, not every property sells. But the flat fee guys still get their money.

Last week, I saw one of these flat fee service places. A big place in a great location. Only $100,000 over priced. The sellers, who served a great lunch, were advised by the mls listing service and their attorney on how to price it. I feel sorry for the sellers. They need to sell. They are getting bad advice. They now have unrealistic expectations and its going to take some real pain before they see the light. Moreover, the place is a high end property which presents another set of challenges regarding financing. As professionals, we anticipate these issues and work to not just get an offer but to get it sold.

The times they are a changing....

Hoboken Real Estate Condos
New last 7 days 57
Price change last 7 days 54
total available 521
Information deemed reliable but not guaranteed

Open Houses

REMAX OPEN HOUSE TOUR

HOBOKEN
82 Jackson St #A7 Sun 3/15 1-3PM
RENOVATED 1BR OVERLOOKING COURTYARD Large living/dining area. Spacious BR w/ wic. New cabinets & granite in ktch. Nothing to do but move in. Short walk to the PATH. Steps to 2nd St. light rail.	$340,000
1016 Willow Ave #403 Sun 3/15 1-3PM
BRIGHT 2BR/1.5BA DUPLEX 670 sqft. Unit shows larger than stated sqft. Lots of closets. Common bckyrd. Laundry in bldg	$429,000
812 Grand St #206 Sun 3/15 1-3PM
OVERSIZED 1BR WITH EVERY AMENITY Granite, S/S appl, 42" cabinets, grnt center island & room for DR table. Lrg BR+wic.	$452,000
615 Madison St #3B Sun 3/15 2-4PM
NEW LISTING! FEELS LIKE A HOME IN HOBOKEN 2br,1.5bth open space with huge granite kitch, w/d in unit, pkg & extra deeded storage.	$499,000
820 Hudson St #C-6 Sat 3/14 2-4PM
LOCATION! LOCATION! LOCATION! 2br w/ huge private yard, granite/ss kitchen, new hw floors and parking.	$529,900
518 Monroe St #3B Sun 3/15 1-3PM
NEW TO MARKET! STUNNING 1250SQFT 2BR/2BA W/ PERFECT LAYOUT IN FIELDS MANOR Seller upgrades throughout. Chef's ktch w/ ss appls & granite cntrs opens onto wide living/dining area. Spacious master BR w/ enough space for king size bed & sep sitting area, plus a wic. Large 2nd BR has 2 closets & private terrace. Garage prkg for 1 car incl.	$530,000
502 Jefferson St. #1 Sun 3/15 1*3PM
ONE OF A KIND 1000 SQFT DEEDED YARD WITH CUSTOM 2 TIERED DECK Awesome 2 bed 2 bath with hardwood floors, gourmet kitchen with granite counters, beautiful tile floors in bathrooms, walk in closet, windows on east and west sides, CAC, in-unit laundry with storage area, common storage closet in semi private hallway outside. Call Soha @ 917-892-8977	$499,000
501 9th St #314 Sun 3/15 12-3PM
PROSPECT HILL 2BR/2BA WITH TERRACE & PARKING Upgraded ktch has ss GE appls,granite & custom diamond tile backsplash. King-sized master features wic & spacious BA w/ double sinks plus separate shower and soaking tub. California closets highlight 2nd BR. Terrace overlooks common courtyard w/ summertime privacy. Call Trip at 201-320-1225.	$573,000
99 Park Ave #5B Sun 3/15 1-3PM
PRICE REDUCTION! 2BR, 2BA, 1419 SQFT WITH PARKING Top floor, corner unit in elev bldg, lots of natural light, spacious master BR w/ WIC, HWF, granite cntrtps & full-size laundry room in unit.	$700,000
812 Grand St. #310 Sun 3/15 1-3PM
1400SQFT 3BR CORNER UNIT @ THE HUNTINGTON Unit overlooks Columbus Park. Open flrpln & extensive upgrades thrght. S/S appl & granite cntrtps & W/D, deeded prkg & gym in bldg.	$769,900
UNION CITY
100 Manhattan Ave #2003 Sun 3/15 1-4PM
THE DORIC! UNIT OVERLOOKS PARK & HAS NYC & GW BRIDGE VIEWS! Brand new granite ktch w/ brkfst bar. New marble BA, new closets. Fantastic deal on a great upgraded unit!! 49% of maint is tax deductible. Best priced 1BR at The Doric!	$224,900
NORTH BERGEN
8100 River Rd Sun 3/15 1-4PM
WATERMARK- A WHITE GLOVE LIVING LIFESTYLE ON THE HUDSON 3BR's 3BTH's approx 1970 sqft 2 Prkg Spaces, Priv Terrace, Views of Manhattan Skyline. Complete w/ 40,000 sqft of World Class Amenities, & approx 30K worth of upgrades. Free Shuttle To Light Rail & Ferry.	$1,600,000
WEST NEW YORK
20 Ave @ Port Imperial #516 Sat 3/14 2-5PM
WNY - FANTASTIC TOP FLOOR 1281SQFT 2BR AT GRANDVIEW II Top of the line kitchen. Best priced 2 Bedroom in the building!	$599,000
5509 Madison St Sat 3/14 1-4PM
NEW CONSTRUCTION! ELEGANT, STEEL & CONCRETE ELEV BLDG Variety of choices. All homes have HWF, CAC, WD, ss appl & great natural light. Some units have spectacular NYC views. One 2BR home has lrg terrace & deeded garage prkg is incl w/ all but 2 homes. Mins from lightrail. Maint for 2BR homes is $205 & TAX abatements are offered through the city of WNY. Inquire about incentive programs.	Ranging from $185K-$287K

Robert De Ruggiero Inc. Realtors
719 Adams Street, Unit 2L Hoboken Sun 1-4

Great unit with exposed brick, brand new bathroom with Italian tiled stall shower, hardwood floors, 9 foot ceilings, large window & lots of light. Also has a shared backyard with garden, basement storage, laundry room & parking available 1 block away for a fee. Close to lightrail stop & grocery stores.

$299,900

402 9th Street, Unit E2E, Hoboken Sun 1-4 THE COLUMBUS Your new home! A rare and very large one bedroom in the Columbus, an architecturally unique condo complex adjacent to Columbus Park. This home defines light and airy, featuring a well-designed 975 SF unit with beautiful hardwood floors, lots of room for dining & entertaining & wonderfully useful California closets. Full kitchen features new granite countertops and under-mount sink. Redone bath features marble countertop. Overlooks a quiet, landscaped courtyard. Great midtown location. Outdoor parking spot. $469,000

126 Webster Avenue, Unit 4D, Jersey City Sun 1-4

HUGO PRONTI LOFTS

Unique loft condo in renovated factory building with NYC views & garage parking. 2400 SF duplex. Incredible open space ideal for live/work. 24 ft ceilings. Terrace. Gas fireplace. 3 skylights. Architectural and exposed beams and truss work.Exposed bricks. Hardwood floors. Can work as a three bedroom or live/work space. Central heat & air. Storage & laundry in basement. Deeded garage pkg.Gorgeous kitch en with granite, stainless steel and backsplash.

Realty Express Sunday, March 15, 2009 from 1pm - 4pm

717 Adams Street, Hoboken View Details - Gut Renovation new to the market! 8 total units in the building. Unit includes a (10'x12') deck stonefront working gas fireplace c/a/c GE stainless steel appliancesg... 2 Bedrooms 1 Bathroom 700 Sqft Asking $419,900

Uptown Realty Sunday, March 15, 2009 from 1pm - 3pm

2 Constitution Court, Hoboken View Details - Luxury Conveniences woven into a spectacular waterfront community.Absolute impeccable describes this two bedroom two bath offering an impressive living room & dining a... 2 Bedrooms 2 Bathrooms 1141 Sqft Asking $650,000

Two Week Look Back

I watched Back To The Future over the weekend. Wow. Still A Great Movie. So let's Go Back In Time.... Here's the run down of the Under Contracts in the past two weeks.

1) 659 1st St. #307...DOM 6.. Listed at $599,777

2) 1500 Washington #7i..DOM 24.. Listed 2/3/09 for $699k reduced 2/17/09 to $659k

3) 531 Garden #2...DOM..29...listed 2/5/09 for$725k...new construction

4) 600 Hudson #2A..DOM..32...listed 1/30/09 for $769k

5) 700 1St #1M...DOM 42...listed 1/27/09 for $409k

6) 1214 Wash #5...DOM 49... listed 1/07/09 for $429,900, reduced 1/28/09 to $409,900

7) 920 Jefferson #302...DOM 53... listed1/05/09 for $395,888 reduced 1/30/09 to $368,888

8) 224 Hudson #5A...DOM 73...listed 1/22/08 for $594,900 reduced 1/9/09 to $584,900 reduced 1/2/09 to $554,900 reduced 2/24/09 to $539K.

9) 109 Jackson 4C...DOM 111...listed 11/19/08 for $700k.. BUT WAIT THERE"S MORE! listed 5/5/08 for $839k, reduced 6/16/080 to $799k, listed 11/1/08 at $749k

10) 1300 Grand St #316...DOM 139...listed 10/15/08 $679k, reduced 10/29/08 $659k, reduced 12/10/08 to $639k, reduced 1/8/09 to $625k.

11) 152 6th #4...DOM 147...listed 10/3/08 $355k, reduced10/31/08 $339k, reduced 1/9/09 to $319k

12) 78 Jackson St #5E... DOM 313... 4/18/08 for $1,060,000 new construction

Would it be wrong of me to get a Delorean as a client car?....Don't need money, don't need fame, don't need a credit card for a price change....

It's The Economy.

It's not the economy. not.not.not. It's the people. I am coming to you from McCarran airport in Las Vegas where I have spent and intense five days of real estate training. But the greatest lesson I learned was not in the class or at the poker table. It was from a vendor at the casino.

A little background to the story...My broker insists on wearing his "convention" jacket while out on the town. Now this little number, presumably purchased when Real Estate agents made investment banker kind of money, (come to think of it, we still do...just in a different way) has it's own battery pack to power the fireworks show on the back...giving rise to the phrase what's worn in Vegas should stay in Vegas.

Back to the story. So Mr. Battery Powered Coat is just taking all kinds of well placed abuse from friends and strangers alike. A constant source of amusement and light for the whole evening....The next day, I walk by this vendor who is selling matching hats! A coincidence. So I decide maybe I should get Mr. BPC a hat in case this summer's blackout lasts more than a weekend. Here's the exchange between the vendor and me.

me: "Nice Hats."
vendor: Glances up from his reading and grunts.
me: "Do you have a Yankees hat." (A self respecting Red Sox Fan knows they don't come with a B)
vendor: No. (goes back to reading.)
me: (eyeing another not so loathesome NY team.)"How much are they?"
vendor: (under his breath) thirty five dollars
me: twenty five dollars?
vendor: Thirty five dollars.

I walk away.

Lesson: I actually might have bought this abomination to man, IF...IF the vendor would have been able to engage me. Show me how it works, let me try it, let me ask questions, make me understand why it was double the price of a regular hat...etc.

Now I am no expert, but I am sure the Casino this hat shop was in, measures each store's profits. When hats don't get sold, the hat store closes. the hat vendor can then read his book at home without getting paid and complain about the fact that the economy is bad and that's why he is out of work.

The take away. In today's times. Buyers and Sellers should expect and demand subject matter experts. If you are not working with one, get one. The non subject matter expert will be sitting next to the hat vendor soon enough.




Hoboken Real Estate Condos
Available 523
Lowest price $235,000
Highest Price $4,200,000

Information deemed reliable but not guaranteed