This Week in SNOWboken Real Estate

The 2010 Hoboken Real Estate Report Is Now Available!

This Week In Hoboken Real Estate: January 24-31


13 Contracts in 7 days!. 17 Price changes. 13 solds.... Here is a scary number...only 351 condos for sale. .

Jan 24-31 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.

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 for quarterly reports.

The 2010 Hoboken Real Estate Report Is Now Available

This Week In Hoboken Real Estate: The Frozen Market

The 2010 Hoboken Real Estate Report Is Now Available!

This Week In Hoboken Real Estate: January 17-24


4 Contracts in 7 days!. 16 Price changes. 15 solds.... Here is a scary number...only 351 condos for sale. .

Jan 17-24 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.

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 for quarterly reports.

The 2010 Hoboken Real Estate Report Is Now Available

Hoboken Mortgage Rate Update

From the IHRE mortgage guy ....
**Keep in mind that every borrower’s situation is different, and each must be evaluated individually.

Rates could be higher, or lower, depending on each individual scenario!!**

REVISED January 18th, 2011---- 3:00 PM ET
Lock Period = 45 Days

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

30 YEAR FIXED ---------------------------- 4.750%/ 4.792% APR

30 YEAR FIXED INTEREST ONLY--- 5.250%/ 5.268% APR

15 YEAR FIXED----------------------------- 4.125%/ 4.131% APR

5 / 1 ARM------------------------------------- 3.375%/ 3.128% APR

7/1 ARM ------------------------------------ 3.750%/ 3.481% 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 ------------------------- 5.000%/ 5.091% APR

15 YEAR FIXED ------------------------- 4.375%/ 4.453% 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--------------------------- 5.125%/ 5.136% APR

30 YEAR FIXED INTEREST ONLY-- 5.500%/ 5.516% APR
15 YEAR FIXED--------------------------- 4.375%/ 4.451% APR
5 / 1 ARM------------------------------------- 3.500%/ 3.237%APR

7/1 ARM -------------------------------------- 4.125%/ 3.862% 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**


Michael Mundy

Senior Vice President, NMLS# 208872

Pinnacle Mortgage, Inc.

The 2010 Hoboken Real Estate Report Is Now Available

The 2010 Hoboken Real Estate Report Is Now Available!

This Week In Hoboken Real Estate: Mid January 2011


7 Contracts in 7 days!. 20 Price changes. 11 solds.... Here is a scary number...only 348 condos for sale. That's 350 serious sellers. Pretend sellers pulling in their horns, hoping for the spring market. Where are all of the sellers? If I were selling, I'd be out there To-Day.

Jan 10-17 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.

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 for quarterly reports.

The 2010 Hoboken Real Estate Report Is Now Available

Hoboken Open Houses Map

Hoboken Open Houses Map Jan 15th & 16th

Jets-Pats isn't the only game in town.

Open houses aplenty. The first couple of weekends have been slow but the spring market will be kicking into gear long before the snow melts. (If it ever melts.) Those snow/ice piles at every coorner are great for holding up my open house signs even in a gale force wind. Wish they stayed all year round. NOT.

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 January 15th & 16th

This Week In Hoboken Real Estate: Week 1 2011

This Week In Hoboken Real Estate: Week 1 2011

Winter is here and so goes the market. Snow storm on tap. Appointments postponed. Good thing there is the internet for buyers to hunt for houses.

4 Contracts in 10 days!. 10 Price changes. 19 solds.... Here is a scary number...only 350 condos for sale. That's 350 serious sellers. Pretend sellers pulling in their horns, hoping for the spring market.

Jan 1-10 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 goign to get the best deal? Now. A seller waiting until the spring faces more competiton and if you miss that market and interest rates rise. Your train has left you at the station. My sellers will have gotten on with their lives, while the Ancient Mariner sails on.

The Q3 Hoboken Real Estate Report is now available but drop me a note because the 2011 Annual report will be out next week. .






Hoboken Real Estate This Week Jan 1-10

Resolve Not To Resolve

2010 is in the rear view mirror. 2011 staring us right in the face. While the 2010 Hoboken Real Estate report will be out on the 15th, many of us are scheming on how to improve, out perform, and hope to do better than last year.

First things first...NO RESOLUTIONS! Resolutions are for people who have dreams with no realistinc hope of accomplishment. Buy a lottery ticket. Atleast there is a chance.

If you resolve to buy a house in 2011, have a plan. It might look like this.

1) Speak to a mortgage person to understand my credit, my borrowing capability, down payment requirements, anticipated closing costs and potential problems that can be addressed in the near term.

2) Speak with a realtor who can give me a sense as to the timing of a purchase and what types of properties fit within my price range.

3) Assuming that I am in a position to purchase, start looking for appropriate homes.

Not...I am going to look at homes and hope I can afford something that I like. Those who can afford it already know.

How about a plan for selling a home? There is more hope than plan on this side of the market. Hope that prices rebound. Hope that my overpriced home will sell. Hope that a buyer will look past the needed renovations. ugh.

If one truly resolves to sell their home in 2011, be prepared for a price war and a beauty contest. You will sell it for less than you think. But with a plan going in, you will know why. Perhaps you want a bigger home. Perhaps a home in a different town. Take your medicine now.

Gotta go. Off to the gym. I resolved to lose weight this year.....maybe I'll just go to the barber instead.