Hoboken Condos This Week's Report

Hoboken Condos This Week's Report

The week of April 18-27.

Hoboken Condos ...New to the market 39
Hoboken Condos ...price changes 19
Hoboken Condos ...under contract 24
Hoboken Condos ...sold 15

The Hoboken Condos market has now topped 380 available condos to purchase! The number is finally climbing. Maybe sellers are getting wind of this "seller's market"? I had a seller last week that had four offers in four days on the market! Yes a bidding war. This seller is moving on and up.

Overall, the spring weather should drive more buyers to get a move on. But as Jersey's original Boss would say ..."Well you better move fast when you're young or your not long around."

Here is the week's spreadsheet.

Did I mention the Q1 2011 Hoboken Real Estate Report is now available? ...It's available!

Has anyone been watching my real estate segments on hoboken411? Please let me know what you think.

Hoboken Condos Report Q1

The Hoboken Condo Report Q1 is now available.
Get it free today.

Don't want to download a free report???
Three Biggest Things I learned by reading my own condo report.

1) Hoboken Condo inventory down 30%.
2) Median Sale Price falling.
3) Bidding wars are back.


There now you have it. So get it.

Today's mortgage rates

Hoboken Mortgage Rates

From the IHRE mortgage guy...

REVISED April 15th, 2011---- 12:00 PM ET
Lock Period = 30 Days

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

30 YEAR FIXED ---------------------------- 4.875%/ 4.923 APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.446% APR

15 YEAR FIXED----------------------------- 4.125%/ 4.194% APR

5 / 1 ARM------------------------------------- 3.375%/ 3.171% APR

7/1 ARM ------------------------------------ 3.750%/ 3.466% 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 ------------------------- 5.125%/ 5.244% APR

15 YEAR FIXED ------------------------- 4.375%/ 4.412% 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--------------------------- 5.375%/ 5.391% APR

30 YEAR FIXED INTEREST ONLY-- 5.625%/ 5.638% APR
15 YEAR FIXED--------------------------- 4.500%/ 4.527% APR
5 / 1 ARM------------------------------------- 3.875%/ 3.602%APR

7/1 ARM -------------------------------------- 4.250%/ 3.998% 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 – 1.00% Points --- Loans up to $1,000,000!!!



**Please call for rates on loans over $1 million or rates on FHA loans**

A Hoboken Renters Big Mistake

A Hoboken Renters Big Mistake

You've heard the cliche Too Smart For Your Own Good or As easy as sliding off a greasy log backward. (Actually, I have no idea about that last one but made me laugh.) Well here is a true Hoboken tale from the front that occurred awhile back this winter.

It might have been cold outside but the Hoboken rental market was heating up. Everything getting gobbled up. Prices rising faster than a gallon of gas. Landlords just waiting for people to move so they could jack up those market rate rents.

One renter I know, thought they might get cute. Without doing his homework and without a lease, he asks the landlord for a reduction in the rent. Did I mention the rent was more than 10% below market.

You all know the end of this story. It's bye-bye Mr. I want to save $100 a month and hello I can't believe I am living in The Heights for the same price.

Lesson: Always check with your local expert before flying off the handle or you might just find yourself taking the 9th Street Wonkavator each morning.



A Hoboken Renters Big Mistake

Will The Weather: Bring The Hoboken Spring Market?

The Hoboken Spring Market

Temperatures are supposed to be in the 70s this weekend! I for one am heading out to look at property. Probably the open houses I am holding and some that my clients want to see. Even if I weren't "in the business" I'd be out there getting some air between stops at overpriced condos.

Of course they are overpriced. How many condos in today's market get full price or more. Ok, there is one realtor who makes a big time living pricing the property so low that they sell for over ask. Check out the hoboken open house map on Friday evening. ,

This is the spring. Families who want to move over the summer are getting ready to sell. People are getting married and need a new place big enough to have their first argument and be able to go to separate rooms. Nothing like fighting in a studio. Hook up a webcam and call it Newlyweds: The Steel Cage match. I mean how long can someone lock themselves in the only bathroom? Eventually the other person has to go and round two begins..... I hope they live in steel and concrete.

I used to live in a house with the next house about two driveway widths away. It was a three family or triple decker as it was called in central Massachusetts. The old married couple who lived on the third floor would get to fighting almost every night. Thankfully they had no central air. With those widows open, it was as good as being there....I feel like I am describing radio to the webcam generation.

Telling Stat: 376 total available Hoboken Condos For Sale The Hoboken Spring Market