The Holiday Season In Hoboken Real Estate

The Holiday Season In Hoboken Real Estate

Well winter is officially upon us. Forget about black Friday, Kris Kringle, New Year's Eve...the real winter in Hoboken's real estate market kicked off this week with residents leaving town like those aliens in the Men In Black movie.

I think I just saw a tumbleweed blowing down Madison Street.

Seller's would rather stack gifts up in the closet, spare bedroom, corner of the living room, and shower then have their home show ready for an appointment that may never materialize. (If you think I am exaggerating about the shower thing. that's where I store them. We have a second shower and it makes great storage until we have those pesky visitors that expect to bathe once a day. Mom. Get a hotel.

Buyer's would rather parade down the streets of New York swigging beers and dressed as Santa than look at property on a weekend. I am off to SantaCon 2010....

The good news...buyers can find motivated sellers who are happy to shed a property before the year end. Once Dick Clark makes his annual appearance, sellers will retrench.


Hoboken Real Estate This Week: Nov 18-29

A 12 day week. The turkey has put me in a coma. The market must have had too much turkey too.

I think many sellers are coming to the party a day late and a dollar short. Everyone is getting into the price reduction game hoping to cash in before they take their place off the market the first week of December and relist in January. Under contract condos are still slow and steady at 12 for the last 12 days. Current solds through today: 32 for the month.

In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to get the weekly reports emailed directly to them. I am sure I will be killing the traffic to my site...so tell a friend to read me.

This week is not a surprise to anyone reading my Q3 Hoboken Real Estate Report and Hoboken Real Estate Report October Update The market is slowing. Another week with only 11 contracts. Active Hoboken condos has dropped to under 415. That is low.

The Q3 Hoboken Real Estate Report is now available.

BIG NEWS:

THE NEW REAL ESTATE MOBILE APP IS HERE! (crappy picture courtesy remax marketing department...but the app works!)

Search those listings from your phone.

Search all 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. Standing in front of a home and want more information? The GPS feature will take you right to the listing information you want.

My real estate app works on standard cell phones and smart phones and is FREE! Just text HUDSON1 to 87778 for your free download.

Hoboken Real Estate This Week Nov 18-29

Hoboken Open Houses This Weekend

Hoboken Open Houses Map Nov 20th & 21st

Feast Your Eyes.

Time to feast your eyes on a nice Hoboken condo before you feast this week. Open Houses are a great way to get some exercise too. Just mosey on over to 300 Newark St on Sunday from 1-3pm. I'll be autographing copies on the October update to my Hoboken Real Estate Report. (I heard autograph sessions really bring in the crowds.) And I will truthfully answer three questions about the current real estate market. It's like having a realtor genie. If your wishes are

1. Historically low interest rates.

2. Depresses home prices.

3. Lots of inventory to choose from.

I will grant your three wishes and free you from the lamp you call an apartment that you've been living in.

Here's the rundown for this weekend.

These free maps are a service of Brian Murray. Open houses are a great way to get a high level view of the market when just starting your search but keep in mind the following important items:

1) Open houses only represent a small portion of what is available. On any given week end in Hoboken, there are between thirty and sixty open houses. This represents as little as 5% of the total inventory. A buyer who is just starting out should see open houses in different price ranges to understand what your money will buy in terms of square footage and location. Beyond and initial five or six open houses, a realtor will save you time by working with you to help define your wants versus your must haves and the properties that really fit you best.

2) The realtor at the open house works on behalf of the seller not the buyer. The relationship is defined by NJ state law that the agent holding the open house, as part of the listing realty, is working as a seller's agent. If you tell the agent anything regarding your motivation or price range, they are obligated to tell the seller.

3) You can choose to work with any realtor even to purchase a home viewed at an open house. Meaning if you see a home you like at an open house, don't be bullied into using that agent to sign a contract. You can certainly use a seller's agent if you wish, but you can choose to work with any realtor to write, present, and negotiate the offer on your behalf.

4) The Hoboken Real Estate market is competitive. If you already have a happy relationship with an agent, let the person running the open house know as a courtesy. If you plan to work with an agent but haven't yet looked at homes together, list that realtor on the sign in sheet. There are two reasons agents have a sign in sheet. First to market their services to you. Second is for security.

5) You are not wasting my time because you are just starting out and not sure what you want. If you find value in the open house maps,The Hoboken Market Trend Report, The Hoboken Weekly Market Conditions Snapshot, The Hoboken Real Estate Report, my blog or any of the other types of information and services that I provide, please contact me before you start your search. Often, I can help you choose the best or most represntative homes to see and can schedule a few hidden gems that we can see with an extra twenty minutes.

Open Houses By Bedrooms: One Beds, Two Beds, Three Plus Beds

Open Houses By Price: Upto $430k, $430- $550k, above $550k

Map Legend:Yellow= Studio, Blue= 1 Bedroom,Red= 2 Bedrooms,Orange=3+ Bedrooms (includes mulifamiles)

Information is deemed reliable but not guaranteed.

Hoboken Open Houses Map weekend of Novemeber 20th&21st

Hoboken Real Estate This Week Nov 8-18

Hoboken Real Estate This Week: Nov 8-18

Anyone paying attention? 10 days do not make a week. You can vote three times in Hoboken but you can't cram 10 days into a week. What's a little fudge in November. The last half of the month is a throw away. As predicted price changes errr reductions are through the roof.

I think many sellers are coming to the party a day late and a dollar short. Everyone is getting into the price reduction game hoping to cash in before they take their place off the market the first week of December and relist in January. Under contract condos are stilll slow and steady at 16 for the last 10 days.

In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to get the weekly reports emailed directly to them. I am sure I will be killing the traffic to my site...so tell a friend to read me.

This week is not a surprise to anyone reading my Q3 Hoboken Real Estate Report and Hoboken Real Estate Report October Update The market is slowing. Another week with only 12 contracts. Active Hoboken condos has dropped to under 500....Almost and identically blah week to last week except that price changes are back in the 40s..

The Q3 Hoboken Real Estate Report is now available.

BIG NEWS:

THE NEW REAL ESTATE MOBILE APP IS HERE! (crappy picture courtesy remax marketing department...but the app works!)

Search those listings from your phone.

Search all 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. Standing in front of a home and want more information? The GPS feature will take you right to the listing information you want.

My real estate app works on standard cell phones and smart phones and is FREE! Just text HUDSON1 to 87778 for your free download.

Hoboken Real Estate This Week Nov 8-18

This Week In Hoboken Real Estate

This Week In Hoboken Real Estate: Nov 1-8

A Peek Back At October.

52 Sales. 46 Contracts. October survived. Yet a chill is in the air. Open House traffic is down and 9 more contract were written this week... that's 13 in two weeks. No G.I. Joe with the kung fu grip for the realtor's kids this year.



The new format for This Week In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to get the weekly reports emailed directly to them. I am sure I will be killing the traffic to my site...so tell a friend to read me.

This week is not a surprise to anyone reading my Q3 Hoboken Real Estate Report. The market is slowing. Another week with only 12 contracts. Active Hoboken condos has dropped to under 500....Almost and identically blah week to last week except that price changes are back in the 40s..

The Q3 Hoboken Real Estate Report is now available.









BIG NEWS:

THE NEW REAL ESTATE MOBILE APP IS HERE! (crappy picture courtesy remax marketing department...but the app works!)

Search those listings from your phone.

Search all 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. Standing in front of a home and want more information? The GPS feature will take you right to the listing information you want.

My real estate app works on standard cell phones and smart phones and is FREE! Just text HUDSON1 to 87778 for your free download.

This Week In Hoboken Real Estate: Nov 1-8

Is The Hoboken Real Estate Market Flat?

Taking a look at the above chart, it might appear that condo real estate prices in Hoboken have remained relatively flat over the past year. The lower 75% tracks similarly while the upper 25% has big swings based on the potential of a few very high priced sales unduly influencing the numbers.

Upon a closer look, the truth is frightening to sellers and a real opportunity for buyers. Digging down on the upper second quartile (50%-75%) median prices have dropped from near $550k to $510k. Some of the price drop may be from lower priced homes selling. Some is definitelt from a lowering of prices.

These charts and more Hoboken market statistics are available on a weekly basis in my free Hoboken Real Estate Trend Report.

This Week In Hoboken Real Estate: Oct 25th - Nov 1st

This Week In Hoboken Real Estate: Oct 25th - Nov 1st

Stop Right There.

I can't beleive it. The market has turned to post Thanksgiving even with interest rates never seen before. Thanks to Mike Mundy from Pinnacle for the info below.

Four contracts this week. Four!!!! OMG.

REVISED October 31st, 2010---- 11:00 AM ET
Lock Period = 45 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.250%/ 4.264% APR
30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.139% APR
15 YEAR FIXED----------------------------- 3.750%/ 3.883% APR
5 / 1 ARM------------------------------------- 3.125%/ 3.005% APR
7/1 ARM ------------------------------------ 3.375%/ 3.274% APR
* All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.375%/ 4.389% APR
15 YEAR FIXED ------------------------- 3.875%/ 3.935% APR
** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.
***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.028% APR
30 YEAR FIXED INTEREST ONLY-- 5.375%/ 5.391% APR
15 YEAR FIXED--------------------------- 4.250%/ 4.264% APR
5 / 1 ARM------------------------------------- 3.875%/ 3.561%APR
7/1 ARM -------------------------------------- 4.125%/ 3.811% APR
** All non-conforming loans need to be discussed in detail
** ARM rates on jumbo products could be lower with a 25% down payment or more
** There may be a rate add-on for condominiums and multi-family homes
*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR -- .50% Points --- Loans up to $1,000,000!!!
**Please call for rates on loans over $1 million or rates on FHA loans**


A new format for This Week In Hoboken Real Estate Reports. I am going to give everyone the highlights here but as to not bore the rest of you, anyone who wants the free breakdowns can sign up to get the weekly reports emailed directly to them. I am sure I will be killing the traffic to my site...so tell a friend to read me.

This week is not a surprise to anyone reading my Q3 Hoboken Real Estate Report. The market is slowing. Another week with only 12 contracts. Active Hoboken condos has dropped to under 500....Almost and identically blah week to last week except that price changes are back in the 40s..

The Q3 Hoboken Real Estate Report is now available.








BIG NEWS:

THE NEW REAL ESTATE MOBILE APP IS HERE! (crappy picture courtesy remax marketing department...but the app works!)

Search those listings from your phone.

Search all 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. Standing in front of a home and want more information? The GPS feature will take you right to the listing information you want.

My real estate app works on standard cell phones and smart phones and is FREE! Just text HUDSON1 to 87778 for your free download.

This Week In Hoboken Real Estate: Oct 25- Nov 1