Hoboken Real Estate The Hoboken Condos Weekly Report
The latest run down of Hoboken Real Estate with a focus on Hoboken Condos for the week of May 16-23.
40 new properties, including 35 condos in Hoboken.
11 condos under contract.
24 Sold properties, including 22 Hoboken Condos
31 Price changes of Hoboken real estate
This report includes one big commercial piece for almost $5 million dollars. Is it worth that much? Depends on what the city will let you build. So long to "The world's best coffee".
Think of buying or selling in Hoboken? You need this information and you need it real time. Get my free monthly reports to tract the Hoboken Real Estate market. Get my quarterly and annual reports for the big picture overview. All of my Hoboken Real Estate Reports include a list of Hoboken condos sold, list price to sale price ratios, trend analysis and more. Most importantly get my analysis and insights that come from experience. I am never too busy to work with you and for your referrals.
Brian Murray
RE/MAX Gold Coast Realty
56 Newark St.
Hoboken,NJ 07030
201-795-5200 x441
www.hobokenhomefinder.com
FREE Up To The Minute Market Report for Hoboken or Jersey City
http://www.homeinsight.com/Widget/default.asp?ZUI6YSUSKA06
Tuesday, May 24, 2011
Friday, May 20, 2011
Hoboken Condos | Mortgage Rates | Open Houses
Looking though the Hoboken Condos for sale? Interested in the open houses? Get all of Hoboken's Open Houses in one place.
Need Mortgage rates? From My 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 May 20th, 2011---- 2:00 PM ET
Lock Period = 30 Days
CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)
30 YEAR FIXED ---------------------------- 4.625%/ 4.733 APR
30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR
15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR
5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR
7/1 ARM ------------------------------------ 3.500%/ 3.314% 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* Includes Hoboken condos.
CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)
30 YEAR FIXED ------------------------- 4.750%/ 4.816% APR
15 YEAR FIXED ------------------------- 4.125%/ 4.241% 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%/ 5.112% APR
30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR
7/1 ARM -------------------------------------- 4.000%/ 3.646% 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!!!
Michael Mundy
Senior Vice President, NMLS #208872
Pinnacle Mortgage, Inc.
Toll Free (877) 768-8800 x777
Thursday, May 19, 2011
Hoboken Real Estate | Top 3 Facts About The Spring Market
Hoboken Real Estate Top 3 Facts About The Spring Market
For those looking for Hoboken Condos or looking to unload their Hoboken Real Estate here are the top 3 facts from my April 2011 Hoboken Real Estate Report.
1. The upper middle of the market is coming back. While the million dollar plus Eli Manning Hoboken condos are always in demand for their outlandish size and commanding views, the $600k-$800k segment of the Hoboken Real Estate market has suffered recently. It's back. Only 12 condos over $500k sold in February and 12 over $600k sold in April.
2. The 4% discount. Average sale price to list price of Hoboken condos is holding at 96.1%. This percent is from the final price after price reductions so results may vary but it is a good starting point in your discussions.
3. No Tax Credit Spike: The total number of Hoboken condos under contract remained steady at 78 for the second month in a row. Likely the June and July contracts will not fall as sharply as last year.
Do you like my reports? My analysis. Sign up and get the info first. The people in my client appreciation program always get the info on Hoboken Real Estate before the rest of the market. It's free and you get monthly data, analysis and practical tips. Not some canned reports.
Sunday, May 15, 2011
Hoboken Condos | Mortgage Rates
Hoboken Condos latest mortgage rates....
REVISED May 13th, 2011---- 3:00 PM ET
Lock Period = 30 Days
CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)
30 YEAR FIXED ---------------------------- 4.750%/ 4.868 APR
30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR
15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR
5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR
7/1 ARM ------------------------------------ 3.500%/ 3.314% 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 ------------------------- 4.875%/ 4.981% APR
15 YEAR FIXED ------------------------- 4.125%/ 4.241% 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 for Hoboken Condos (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%/ 5.112% APR
30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR
7/1 ARM -------------------------------------- 4.000%/ 3.646% 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**
Total Fees Charged By Pinnacle Mortgage, Inc.
$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)
Michael Mundy
Senior Vice President, NMLS #208872
Pinnacle Mortgage, Inc.
mmundy@pinnaclemortgage.biz
www.mundymortgages.com
REVISED May 13th, 2011---- 3:00 PM ET
Lock Period = 30 Days
CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)
30 YEAR FIXED ---------------------------- 4.750%/ 4.868 APR
30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR
15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR
5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR
7/1 ARM ------------------------------------ 3.500%/ 3.314% 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 ------------------------- 4.875%/ 4.981% APR
15 YEAR FIXED ------------------------- 4.125%/ 4.241% 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 for Hoboken Condos (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%/ 5.112% APR
30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR
7/1 ARM -------------------------------------- 4.000%/ 3.646% 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**
Total Fees Charged By Pinnacle Mortgage, Inc.
$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)
Michael Mundy
Senior Vice President, NMLS #208872
Pinnacle Mortgage, Inc.
mmundy@pinnaclemortgage.biz
www.mundymortgages.com
Wednesday, May 11, 2011
1450 Washington construction update
Construction update of those 156 Hoboken Condos at 1450 Washington at Hudson Tea by Toll Brothers
The hammers are swinging, hard hats running around like ball boys at Wimbledon, sparks are flying. According to my sources, 1450 Washington at Hudson Tea is ahead of schedule. March 2012 looks like a real possibility for the lower floors with the higher floors coming in over several months. 156 Hoboken Condos and one retail space. The windows are in. the facade is on.... check out the video
These condos looked like a European train table until the shift of power in the Hoboken city council last night. Let's hope they fight over $25 recreation fees and leave the construction to the professionals.
Want to see them first hand or get more information?
Wednesday, May 4, 2011
would you click on this?
I just came across this on real craigslist post.....
ATTENSION INVESOTRS – FREE access for Hoboken real estate statistic (Hoboken)
ATTENSION INVESOTRS – FREE access for Hoboken real estate statistic (Hoboken)
This is from one of my esteemed colleagues. I am giving you the link. If you want those reports, have at it.
Did I mention the Q1 2011 Hoboken Real Estate Report is now available? ...It's available!
Tuesday, May 3, 2011
Hoboken Real Estate| 1450 Washington Street at Hudson Tea
Hoboken Real Estate 1450 Washington Street at Hudson Tea
Did anyone notice the new construction building going up rapidly between 14th and 15th streets in Hoboken. It's Toll Brothers 1450 Washington Street at Hudson Tea. The latest new construction project in the Hoboken real estate market. Toll Brothers has begun pre-sales!
1450 Washington Street at Hudson Tea features a 12 story tower on the north end with a 7 story tower on the south end. The 7 story tower has a courtyard level on the second floor which makes the building horseshoe shaped with an opening facing the Toll Brothers parking garage to the west.
1450 Washington Street at Hudson Tea will feature retail on the first floor and have ameniteis such as a doorman, fitness center,and children's play room. While sharing a condo association with Harborside Lofts and the still to be built Toll Brothers building to the east, Hudson Tea at 1450 Washington Street will have access to the planned swimming pool. This will make it one of the most unique properties in the Hoboken Real Estate market.
1450 Washington Street at Hudson Tea, according to Toll Brothers will be ready for delivery in March 2012 to July 2012. Construction is ahead of schedule.
Pricing at 1450 Washington Street at Hudson Tea is pretty reasonable for Toll Brothers new construction. There are studios in the low $300,000s, one bedroom starting in the mid 300,000s, and upward through a combined 3br condo of 2000sqft for just over $1.1millon.
Taxes at Hudson Tea at 1450 Washington Street are estimated to be 1.3% of the sales price. Meaning a condo would selling for $500k would have an annual tax bill of roughly $6500. A reasonable number compared to other Hoboken Condos.
Maintenance at 1450 Washington Street at Hudson Tea according to Toll Brothers is sixty one cents a square foot. This is the same price that Maxwell Place is charging.
Contact me to learn more about 1450 Washington Street at Hudson Tea.
Did anyone notice the new construction building going up rapidly between 14th and 15th streets in Hoboken. It's Toll Brothers 1450 Washington Street at Hudson Tea. The latest new construction project in the Hoboken real estate market. Toll Brothers has begun pre-sales!
1450 Washington Street at Hudson Tea features a 12 story tower on the north end with a 7 story tower on the south end. The 7 story tower has a courtyard level on the second floor which makes the building horseshoe shaped with an opening facing the Toll Brothers parking garage to the west.
1450 Washington Street at Hudson Tea will feature retail on the first floor and have ameniteis such as a doorman, fitness center,and children's play room. While sharing a condo association with Harborside Lofts and the still to be built Toll Brothers building to the east, Hudson Tea at 1450 Washington Street will have access to the planned swimming pool. This will make it one of the most unique properties in the Hoboken Real Estate market.
1450 Washington Street at Hudson Tea, according to Toll Brothers will be ready for delivery in March 2012 to July 2012. Construction is ahead of schedule.
Pricing at 1450 Washington Street at Hudson Tea is pretty reasonable for Toll Brothers new construction. There are studios in the low $300,000s, one bedroom starting in the mid 300,000s, and upward through a combined 3br condo of 2000sqft for just over $1.1millon.
Taxes at Hudson Tea at 1450 Washington Street are estimated to be 1.3% of the sales price. Meaning a condo would selling for $500k would have an annual tax bill of roughly $6500. A reasonable number compared to other Hoboken Condos.
Maintenance at 1450 Washington Street at Hudson Tea according to Toll Brothers is sixty one cents a square foot. This is the same price that Maxwell Place is charging.
Contact me to learn more about 1450 Washington Street at Hudson Tea.
Sunday, May 1, 2011
Hoboken Condos and The NFL Draft
Hoboken Condos and The NFL Draft
Glued to the tv for the past three days watching the NFL draft, it struck me. Buyers of Hoboken condos and the teams drafting are exactly the same.
Example 1:
There's a prospect that is projected to be a first rounder that falls to the third round. No one knows why. This is just like a well priced condo that takes 3 months instead of three weeks to sell.
Example 2: There is a run on a position. It's supply and demand. A team may really need a linebacker but four quarterback are taken in the first twelve picks. Now the team needs a quarterback too and worries that there won't be any left. So they take a quarterback instead of a linebacker. This is just like the new Hoboken condos at 1450 Washington. There are only five three bedroom condos in the 156 unit building. They were gone in the first day of sales.
Example 3: The head scratcher.... A team moves up and mortgages the world for a player they could of had later. Just like the Hoboken condos buyer that buys for over market with no other offers.
Whether it's Hoboken condos or NFL draft picks (or in the case of Eli Manning, both a Hoboken Condo buyer and NFL draft pick)....The buyer sets the market. For better or worse.
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.
Glued to the tv for the past three days watching the NFL draft, it struck me. Buyers of Hoboken condos and the teams drafting are exactly the same.
Example 1:
There's a prospect that is projected to be a first rounder that falls to the third round. No one knows why. This is just like a well priced condo that takes 3 months instead of three weeks to sell.
Example 2: There is a run on a position. It's supply and demand. A team may really need a linebacker but four quarterback are taken in the first twelve picks. Now the team needs a quarterback too and worries that there won't be any left. So they take a quarterback instead of a linebacker. This is just like the new Hoboken condos at 1450 Washington. There are only five three bedroom condos in the 156 unit building. They were gone in the first day of sales.
Example 3: The head scratcher.... A team moves up and mortgages the world for a player they could of had later. Just like the Hoboken condos buyer that buys for over market with no other offers.
Whether it's Hoboken condos or NFL draft picks (or in the case of Eli Manning, both a Hoboken Condo buyer and NFL draft pick)....The buyer sets the market. For better or worse.
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.
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