Inside Hoboken Real Estate

Latest on Hoboken Mortgage Rates

2011-07-15T08:43:00.000-07:00

Latest on Hoboken Mortgage Rates from the IHRE Mortgage Guy

REVISED July 15th,, 2011---11:00 AM ET
Lock Period = 30 Days

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

30 YEAR FIXED ---------------------------- 4.500%/ 4.591% APR

30 YEAR FIXED INTEREST ONLY--- 5.000%/ 5.093% 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 ------------------------- 4.750%/ 4.796% APR

15 YEAR FIXED ------------------------- 4.000%/ 4.095% 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%/ 5.086% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM----------------------------------- 3.500%/ 3.195%APR

7/1 ARM ------------------------------------ 3.875%/ 3.571% 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

**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.

www.mundymortgages.com

Top 5 Hoboken Real Estate Headlines in 1st Half 2011

2011-07-05T14:11:00.000-07:00

Top 5 Hoboken Real Estate Headlines in the 1st Half of 2011

We have reached the midway point of the year. Today, I want to look back over the first six months and give you what I believe were the five items that have had the biggest impact on the Hoboken real estate market so far this year.

Low InventoryWith Hoboken condo inventories down some 30% from traditional levels, it has impacted the market in several ways. Lower days on market for sold properties is chief among them. Bidding wars and contracts for well priced condos is leaving stale inventory in the dust as Hoboken buyers, with limited choice, are acting fast.

Low Interest RatesHistorical lows in interest rates are having an impact on move up buyers. Three bedroom Hoboken condos are selling fast and furious as families with a long term plan are locking in for the long haul.

Short Sales StalledWhile the Hoboken real estate market is not as directly impacted by short sales and foreclosures as other markets, the bank moratorium on foreclosures and the subsequent delays in the short sale process has mitigated most impact that lower sale prices would have on existing sales.

Sales Are StrongThere were 321 Hoboken condos sold in the second half of 2010 as compared to 343 Hoboken condos sold in the first half of 2011. While the second half of 2010 was a low caused by the homebuyer tax incentive, the first half of 2011 had no incentive and thus the second half should not be as negatively impacted from buyers front loading their purchases.

Toll Brothers Is Building And Selling In Hoboken
1450 Washington Street, the latest in Toll Brothers' Hoboken condo offering, is being built at a breakneck pace. The 156 condo structure is on schedule for completion in the first half of 2012 and sales have already begun. Toll does not commit lightly and they are bullish on the sale prospects for the foreseeable future. A great sign for Hoboken real estate!

Keep up with the latest in Hoboken Real Estate through my free monthly Hoboken Real Estate reports.

Hoboken Housing Freedom

2011-07-04T06:18:00.000-07:00

IN HOBOKEN, July 4, 2011

Tourists decend upon the waterfront like Pennsyltuckians looking for a free cupcake at Carlos. Where is the Hoboken Parking Authority when you need them? Probably too busy resting up to give Hobokenites warnings for legally parking at a meter for more than two hours.

So today I am going to keep it brief. I am going to grill meat, offer libations to the housing gods, and watch America's best fireworks thanks to Mr. Macy & Co. Take that Park Slope and the rest of Brooklyn. If you want to see the fireworks, hop on a train. Haha.

Tomorrow, I am going to get back to exercising my freedom of helping people reach the American Dream....Condo Ownership!

IN CONGRESS, JULY 4, 1776
The unanimous Declaration of the thirteen united States of America
hen in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.

He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.

He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

He has affected to render the Military independent of and superior to the Civil Power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

For quartering large bodies of armed troops among us:

For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

For cutting off our Trade with all parts of the world:

For imposing Taxes on us without our Consent:

For depriving us in many cases, of the benefit of Trial by Jury:

For transporting us beyond Seas to be tried for pretended offences:

For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies

For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:

For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated Government here, by declaring us out of his Protection and waging War against us.

He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.

He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. — And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.

— John Hancock

Hoboken Real Estate | The Hoboken Condos Weekly Report

2011-05-24T07:05:00.000-07:00

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

Hoboken Condos | Mortgage Rates | Open Houses

2011-05-20T15:55:00.000-07:00

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 20^th, 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

mmundy@pinnaclemortgage.biz

www.mundymortgages.com

Hoboken Real Estate | Top 3 Facts About The Spring Market

2011-05-19T09:41:00.000-07:00

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.

Hoboken Condos | Mortgage Rates

2011-05-15T09:12:00.000-07:00

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

1450 Washington construction update

2011-05-11T18:11:00.000-07:00

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?

would you click on this?

2011-05-04T15:11:00.000-07:00

I just came across this on real craigslist post.....

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!

Hoboken Real Estate| 1450 Washington Street at Hudson Tea

2011-05-03T11:59:00.000-07:00

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.

Hoboken Condos and The NFL Draft

2011-05-01T08:32:00.000-07:00

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.

Hoboken Condos This Week's Report

2011-04-27T09:43:00.000-07:00

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

2011-04-22T16:07:00.000-07:00

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

2011-04-15T11:48:00.000-07:00

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

2011-04-14T18:44:00.000-07:00

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?

2011-04-07T18:47:00.000-07:00

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

This Week In Hoboken Real Estate

2011-03-29T18:43:00.001-07:00

Hoboken Real Estate Stats March 21-29 You know the market must be getting bad if one of the most well know agents in Hoboken tries to poach one of my loyal clients and a joint client party. Although her reputation often preceeds her, it is still a new low. I can only wonder if she is having problems paying for all of the renovations to her new home now that she has moved out of Hoboken. The number of condos for sale is holding steady at 375 condos. A reminder that the tax appeal deadline is April 1st. The 2010 Hoboken Real Estate Report with February Updates Is Now Available! Mar 21-29 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. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

And Look. Here is a little video of one of those listings. Francis Ford Coppola is quaking in his boots.

The 40 page 2010 Hoboken Real Estate Report with February Updates 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 Mar 21st

2011-03-21T18:30:00.000-07:00

Hoboken Real Estate Stats March 14 -21

The number of condos for sale is holding steady at 375 condos.

A reminder that the tax appeal deadline is April 1st.

The 2010 Hoboken Real Estate Report Is Now Available!

Mar 14-21 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. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

And Look. Here is a little video of one of those listings. Francis Ford Coppola is quaking in his boots.

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 Real Estate Stats March 1-14

2011-03-14T18:26:00.000-07:00

Hoboken Real Estate Stats March 1-14

The number of condos for sale is holding steady at 375 even with 70 "new to market" condos.

A reminder that the tax appeal deadline is April 1st.

The 2010 Hoboken Real Estate Report Is Now Available!

Mar 1-14 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. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

This Week In Hoboken Real Estate: Feb 15-28

2011-02-28T18:30:00.000-08:00

This Week In Hoboken Real Estate: Feb 15-28

February: The Mouse That Roared.

The number of condos for sale is climbing all the way to 374. A lot of 2010 retreads in there though.

The 2010 Hoboken Real Estate Report Is Now Available!

Feb 15-28 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. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

Hoboken Open Houses feb 26 & 27

2011-02-26T07:46:00.000-08:00

Hoboken Open Houses Map Feb 26th & 27th

I'll be at 300 Newark Street Sat and sun 12:30-2:30.

Lots of buyers are out. A good time to sell.

From Doorfly.com.......

Top 10 Reasons People Decide To Buy A Home
Renting is a very frustrating way of life. The money you pay every month disappears, leaving you with few benefits other than a roof over your head. Compared to owning a home, renting is a futile exercise that leaves you with nothing after your lease is up. It’s no surprise that people want to get out of the rent race, and here are 10 reasons why people decide to buy a home versus renting.

1. They Want to Build Equity
Homebuyers build equity as their property increases in value over time. This equity has many benefits, including the ability of a homebuyer to leverage equity in lines of credit to make repairs or additions to their home. Equity is a powerful thing and a natural consequence of home ownership. Renters never gain equity in their rental space, and at the end of their lease they are thrown out on the street with nothing to show for years of on time rental payments.

2. They Don’t Want to Throw Their Money Away
Without equity, what does paying your rent on time gain you every month? The truth is that paying rent guarantees a roof over your head for about 30 days and nothing more. In that sense, renting is like an extended stay hotel in that at the end of your rental period or lease you have nothing to show for the money you’ve paid. This makes renting a terrible investment when compared to home buying.

3. They Want More Space
It’s incredible how little you get for your rental payment each month. Most renters are lucky to have even a tiny balcony, let alone roomy closets o storage space. Many homes come with luxurious yards and spacious garages for storage. This makes buying a home an attractive option for those who prefer to stretch their legs.

4. They Want to Make Upgrades
Most leases forbid the renter from altering the rental space. For those do it yourselfers, this can mean a boring living experience. Home buyers are not only allowed to make upgrades, but doing so can be a great investment and raise the overall value of your home. From an investment perspective, this is a no brainer.

5. They Don’t Want to Pay Extra to Own Pets
For those pet lovers out there, renting can be a major financial undertaking Pet deposits can be very expensive, and some apartments add a monthly premium to rent just for having a pet, and separate deposits/premiums for each pet. These fees can add up fast! Homebuyers don’t have to deal with these sorts of fees, and they can also typically provide a better environment for their pets as well.

6. They Don’t Want to Be So Close to Noisy Neighbors
Have you ever lived on the second floor of a 3 story apartment complex? Wild partiers underneath blaring music at 4AM and home fitness gurus doing jumping jacks above you can make you realize just how annoying living so close to your neighbors can be. Homebuyers can sometimes deal with annoying neighbors as well, but at least they’re not rattling your chandelier when they stomp their feet down the hallway.

7. They Don’t Want to Deal With a Landlord
Sometimes dealing with a landlord can be tough. Some landlords are not very friendly or flexible, and won’t hesitate to throw you on the street if rent isn’t on time. Other landlords can be so distant that problems with rent or appliances don’t get resolved for months or even years. As a homeowner, there’s no landlord to deal with and you have the freedom and independence of conducting business on your own terms.

8. Their Hobbies Make Renting a Bad Idea
Drummers and musicians need a place to live, but do you want them living above you in a cramped apartment complex? For those renters who have hobbies or professions that are noisy or require space, renting just isn’t an option for them. Owning a home with plenty of space is their only way to go.

9. They Don’t Want to Deal With Deposits
Security deposits? These never seem to work out in the renters favor and come moving time it always seems like every little problem leads to forfeiture of the sometimes huge security deposits we have to pay just to sign the lease. Home buyers don’t have to deal with this as their home is more closely tied to their assets and their individual independence.

10. They Want to Live the American Dream
Owning a home is a big part of the American dream, and most people would say that the independence, autonomy, and sense of accomplishment that owning a home brings is an essential part of the American way of life. Does renting an apartment do the same?

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 Feb 12 & 13

Oil Up. Rates Down.

2011-02-24T11:44:00.000-08:00

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 February 23rd, 2011---- 12:00 PM ET
Lock Period = 45 Days

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

30 YEAR FIXED ---------------------------- 4.875%/ 4.913% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.396% APR

15 YEAR FIXED----------------------------- 4.250%/ 4.298% APR

5 / 1 ARM------------------------------------- 3.500%/ 3.211% APR

7/1 ARM ------------------------------------ 3.875%/ 3.586% 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%/ 5.136% APR

15 YEAR FIXED ------------------------- 4.500%/ 4.527% 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------------------------------------- 3.999%/ 3.623%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 -- .50% Points --- Loans up to $1,000,000!!!

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

www.mundymortgages.com

This Week in Hoboken Real Estate Feb 8th-15th

2011-02-15T16:53:00.000-08:00

This Week In Hoboken Real Estate: Feb 8-15
You Don't Bring Me Flowers...
...just 2010 retreads. The number of condos for sale is climbing. A lot of 2010 retreads in there though.

The 2010 Hoboken Real Estate Report Is Now Available!

8 Contracts in 7 days!. 21 Price changes. 20 solds.... total available up to 369.

Feb 8-15 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. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

Hoboken Open House Map Feb 12 & 13

2011-02-12T08:07:00.000-08:00

Hoboken Open Houses Map Feb 12th & 13th

I'll be at 300 Newark Street Sat 1-3 and sun 12-2.

Be My Valentine

House hunting is a lot like looking for love. Open House here, open house there. You have to kiss a lot of frogs before you find your prince (ss). A good realtor is a lot like having your own Patti Stanger, just nicer.

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:

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 Feb 12 & 13

Hoboken Mortgage Rate: 5%

2011-02-09T13:27:00.000-08:00

The Latest Hoboken Mortage Rate:

REVISED February 9th, 2011---- 4:00 PM ET
Lock Period = 45 Days

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

30 YEAR FIXED ---------------------------- 5.000%/ 5.083% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.396% APR

15 YEAR FIXED----------------------------- 4.375%/ 4.391% APR

5 / 1 ARM------------------------------------- 3.500%/ 3.211% APR

7/1 ARM ------------------------------------ 3.875%/ 3.586% 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%/ 5.136% APR

15 YEAR FIXED ------------------------- 4.500%/ 4.527% 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------------------------------------- 3.999%/ 3.623%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 -- .50% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over $1 million or rates on FHA loans**
thanks mike mundy www.mundymortgages.com

This Week In Hoboken Real Estate Feb 1-8

2011-02-08T18:31:00.000-08:00

This Week In Hoboken Real Estate: Feb 1-8
It's Ground Hog Day! The Movie!
More of the same....Low inventory, few price changes.

The 2010 Hoboken Real Estate Report Is Now Available!

15 Contracts in 8 days!. 19 Price changes. 14 solds.... Here is a scary number...only 348 condos for sale. .

Feb 1-8 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. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

Hoboken Real Estate: A Piece for Assorted Lunatics

2011-02-03T19:03:00.000-08:00

Hoboken Real Estate: A Piece for Assorted Lunatics

Pink Floyd fans might recognize this title from one of the best selling albums of all time. In today's world on itune single driven music, a the great piece of music Dark Side Of The Moon stands the test of time. The reason...It's really a guide for about perspective for buying and selling real estate!

Song Titles (in no order and associated lyrics)

MONEY
Money, get back.
I'm all right Jack keep your hands off of my stack.

TIME
You are young and life is long and there is time to kill today.
And then one day you find ten years have got behind you.
No one told you when to run, you missed the starting gun.

So you run and you run to catch up with the sun but it's sinking
Racing around to come up behind you again.
The sun is the same in a relative way but you're older,
Shorter of breath and one day closer to death.

BREATHE
And all you touch and all you see
Is all your life will ever be.

US AND THEM
Down and out
It can't be helped but there's a lot of it about.
With, without.
And who'll deny it's what the fighting's all about?

BRAIN DAMAGE
The lunatic is in my head
You raise the blade, you make the change
You re-arrange me 'til I'm sane.
You lock the door
And throw away the key
There's someone in my head but it's not me.

ECLIPSE
All that is now
All that is gone
All that's to come
and everything under the sun is in tune
but the sun is eclipsed by the moon.

This Week in SNOWboken Real Estate

2011-01-31T19:00:00.000-08:00

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.

This Week In Hoboken Real Estate: The Frozen Market

2011-01-24T18:33:00.000-08:00

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.

Hoboken Mortgage Rate Update

2011-01-18T18:37:00.000-08:00

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

2011-01-17T19:46:00.000-08:00

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.

Hoboken Open Houses Map

2011-01-14T11:59:00.000-08:00

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:

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

2011-01-10T19:35:00.000-08:00

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

2011-01-03T19:13:00.000-08:00

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.

5 Reasons You Should Sell Today

2010-12-21T07:20:00.000-08:00

5 Reasons You Should Sell Today

Another Great Real Estate Article by the guru Steve Harney.

I want to Steve's seminar earlier in this month. His information is culled from mortgage lenders and government data. While not all of it applies directly to the Hoboken market, we do not live in a bubble. (not anymore.)

Selling your house in today’s market can be extremely difficult. It is for that reason that every seller should take advantage of each and every chance that appears. There is a fantastic opportunity available right now. Meet with your real estate agent and mortgage professional today and see whether it is the right time for you and your family to make a move.

Here are five reasons you should consider selling in the first 90 days of 2011.

1. Interest rates have spiked up.
Rates have jumped over 1/2 point in the last several weeks. The short term result of increasing rates is a surge of buyers jumping off the fence to purchase in fear that rates may continue climbing upward. This is a short window of opportunity. If rates fall again, buyers will jump back on the fence. If rates continue to rise, it limits the number of buyers who can qualify at each price point. Now is the best time to sell your house.

2. If you are moving up, you can save thousands.
If your family goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams a at bargain basement price, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.

3. During the winter months, the buyers are serious.
We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of urgency with the supply of eligible properties at all time highs. However, at this time of year, the ‘lookers’ are either staying warm (in the North) or just busy with other priorities. The home buyers left in the market are serious and are more apt to buy. Less showings – but to more motivated purchasers.

4. You beat the rush of inventory that is coming next year.
Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. Here is the number of listings available for sale in 2010.

January – 3,277,000
February – 3,531,000
March – 3,626,000
April – 4,029,000

We believe there is a pent-up selling demand (homeowners who have held off selling over the last year) that will lead to an increase in these numbers this spring. You won’t have to worry about this increasing competition if you sell now.

5. You have less ‘discounted’ inventory with which to compete.
This year, sellers of non-distressed properties have been given an early holiday present. With banks trying to rectify their foreclosure procedures, there has been a large supply of discounted properties removed from competition. No one knows how long it will take banks to return to the normal flow of foreclosed properties to the market. However, until they do, every homeowner has a better chance of selling their property.

Bottom Line
If you are looking to sell in 2011, there may not be a more opportune time than this right now. Serious buyers, great move-up deals and less competition from super-motivated sellers and foreclosures creates the perfect selling situation. Don’t miss it!

Hoboken Real Estate Report This Week Dec 7-17

2010-12-17T16:15:00.000-08:00

It's Beginning to Feel A lot Like Christmas....

20 Contracts in 10 days!. 20 Price changes. 20 solds.... Here is a scary number...only 371 condos for sale. That's 371 serious sellers. Pretend sellers pulling in their horns for the holidays. Are you kidding me? Pretend sellers thinking that the spring market will bring an abundance of riches. Well there is no real estate Santa Claus! Did you see the rise in rates? Things just got ugly.

Hoboken Real Estate This Week: Nov Dec 7-17

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.

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 Dec 7-17

If A Tree Fell In The Hoboken Real Estate Woods

2010-12-06T16:05:00.000-08:00

If A Tree Fell In The Hoboken Real Estate Woods

5 Contracts this week. 15 Price changes. chirp, chirp. You can hear the birds it's so quiet. I am at a convention so this will be brief...

Hoboken Real Estate This Week: Nov 29-Dec 6

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.

Hoboken Open House Directory

2010-12-05T05:59:00.000-08:00

Hoboken Open Houses Map Dec 5th & 6th

Stuffing Your Face.

The post Thanksgiving food coma has segued into the holiday party stuffed your face, drank t much doldrums. Buyers are hibernating. Sellers would rather shop than face the reality of a price reduction.

Get out. Go to an open house. Feel better.

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:

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

The Holiday Season In Hoboken Real Estate

2010-11-24T10:41:00.000-08:00

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.

The Q3 Hoboken Real Estate Report is now available.

Hoboken Open Houses This Weekend

2010-11-19T12:25:00.000-08:00

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:

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

2010-11-18T14:20:00.000-08:00

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.

This Week In Hoboken Real Estate

2010-11-08T17:52:00.000-08:00

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?

2010-11-04T18:21:00.000-07:00

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

2010-11-02T07:16:00.001-07:00

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

Hoboken Open House Map Halloween 2010

2010-10-29T16:40:00.000-07:00

Hoboken Open Houses Map Oct 30th & 31st

It's Scary Out There.

Crazy things out there in real estate. Realtors scrimping on their clients marketing because they can't afford it. Wow. That's the person I want selling my home. Maybe sellers should get a written commitment as to how much the realtor's marketing budget is for their home.

Very few open houses this weekend. Mostly on Saturday. Is that because buyers will be feeling a little post Halloween Party hangover or is ti because the realtor will? Hmmm.

Don't forget the Ragamuffin Parade at noon on Sunday...

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:

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 October 23rd&24th

This Week In Hoboken Real Estate: Oct 18-25th Where Did The Fall Market Go?

2010-10-25T18:04:00.000-07:00

This Week In Hoboken Real Estate: Oct 18-25th Where Did The Fall Market Go?

Today's weather notwithstanding, the next Hoboken Real Estate weekly report will be in November. Goodbye fall market we hardly knew ya. Discussing the market with several realtors this week. It feels as though the prices have dropped three to five percent from the spring. It really is hard to compare apples to apples with small numbers but that's the educated estimate.

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 18-25

Hoboken Open Houses Map Oct 23rd & 24th

2010-10-22T12:43:00.000-07:00

Hoboken Open Houses Map Oct 23rd & 24th

Magoo Realty Strikes Again.

I've gotten away from harping on Magoo Realty for a time. But now with their offices popping up like nail salons all over town it's time to peel back the onion a bit.

Each day I scan the new listings to keep a handle on the market. Two caught my eye this week from Magoo.

1) A nice condo...I started scrolling through the pictures and I stopped. There was a dog in one of them. Hmmm. that's odd. This isn't craigslist. Now for the important part. I went back to the listing info....NO pets allowed. That got me thinking...was the dog fake? stuffed? (creepy but I hear some people do it.) or was the dog just passing though...wrong place wrong time.

2) Another nice condo. Info lists a "shared" private yard. Is this like your spouse using the bathroom while your in the shower? Shared and yet private.

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:

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 October 23rd&24th

This Week In Hoboken Real Estate: Oct 12-18 or The 3 Questions Every Seller Should Be Asking

2010-10-18T17:46:00.000-07:00

This Week In Hoboken Real Estate: Oct 12-18 or The 3 Questions Every Seller Should Be Asking

It's crunch time. (or Go time if you listen to all of those JETS commercials trying to convince you that they are superbowl worthy).... OK sellers... It's Go time. Not lowering your price? Here are the 3 questions that you need to ask yourself.

1) If you home doesn't sell in the next four weeks, are you willing to wait until May to move?

2) If the answer to question 1 was yes.... Do you think that buyers will have more or less purchasing power in April? (i.e. is it likely that interest rates will go down, thereby increasing a buyer's purchasing power...or up)

3) If you are upgrading your home from this sale, is it better to lower you price now, lock in a great rate and get a great deal on a bigger home or wait to get a little more in the spring and take great risk. Have a happy holiday or a stressful one.....

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 10 contracts. Active Hoboken condos have grown by about 30 in a week's time....Almost and identically blah week to last week except that price changes dropped to about 25 from 45... al ot of those were from developers. What do they know that the average seller doesn't? Perhaps individual sellers are digging in their heels, hoping for a better spring?

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 12-18

Hazardous Waste Day Tomorrow 10/16

2010-10-15T12:51:00.000-07:00

Hobokenites. Grab your CornerCar, throw those old fire extinguishers, auto flares, propane tanks and computer equipment in the back.

Fall 2010 Hazardous Waste Day
Saturday October 16th, 9am-1pm.
Jersey City
501 Route 440

For a list of what to bring and what not to bring....www.hcia.org

Maybe City Hall should plan a trip.. or store it in the municipal garage.

Hoboken Open House Map 10/16, 10/17

2010-10-15T10:00:00.000-07:00

Hoboken Open Houses Map

Weekend of 10/16, 10/17

Hoboken Street Named Among Top 10 In USA « CBS New York – News, Sports, Weather, Traffic and the Best of NY

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:

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 October 16th&17th

This Week In Hoboken Real Estate: Oct 4-12

2010-10-12T18:04:00.000-07:00

This Week In Hoboken Real Estate: Oct 4-12

Eight Days A Week Is NotEnough To Show I Care....

These long weekends. I know some of you had to work. But it is Hoboken and Columbus was Italian. ...I wonder if everyone in Columbus Ohio got the day off???

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. Only 10 under contract in the long week. Active Hoboken condos have grown by about 30 in a week's time. 45 price changes signal that seller's see the Holidays coming followed by old man riv...winter.

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 4 -12

Hoboken Open Houses Map

2010-10-08T07:43:00.000-07:00

Hoboken Open Houses Map

Weekend of 10/9, 10/10

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:

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 October 9th&10th

Maxwell Place Sales Event and Updates

2010-10-05T11:49:00.000-07:00

Maxwell Place Sales Event and Updates

Got this email from Toll Brothers, builder of the lovely Maxwell Place in Hoboken on the shores of the mighty Hudson....

When you visit a Toll Brothers community during our National Fall Sales Event, you'll see why NOW is a fantastic time to buy your Toll Brothers dream home. We're offering amazing NEW incentives when you deposit on your new home between October 2, 2010 and October 10, 2010*.

*Offer valid for new buyers who purchase a home in a participating community and deposit between 10/2/10 and 10/10/10, sign an agreement of sale within 10 days from date of deposit, and close on the home. Selections must be completed by 2/6/11. Offers, incentives, and seller contributions vary by community and are subject to certain terms, conditions, and restrictions. Toll Brothers reserves the right to change or withdraw any offer at any time. Not valid with any other offer. See sales representative for details. This is not an offering where prohibited by law.

It's true that the disclaimer is bigger than the ad....

The whisper on the street is that Maxwell is offering free maintenance for a year. At sixty cents a square foot per month, that's a lot incentive.

Want more incentives?

Get Free Updates On Maxwell Place Sales Activity....recent sales, available condos, condos under contract, price changes.

Maxwell Place Sales Event and Updates

This Week In Hoboken Real Estate: Sept 27-Oct 4

2010-10-04T17:15:00.000-07:00

This Week In Hoboken Real Estate: Sept 27- Oct 4

I am not talking about Hoboken real estate this week. You can see the happenings on the spreadsheet below. I am pontificating on something far more inportant...Insurance.

Buy a condo. Get home insurance. It protects the bank. They make you get it. and maybe you buy some insurance to cover your belongings too. Good for you. What if you didn't have it? You could probably recover.

How about life insurance?

I am not a life insurance salesman nor do I endorse any one. BUT. Do you have enough? Did you up your policy when you bought a bigger house? Did you up your policy when you created a bigger family? Did you buy enough to cover the rising costs of college? There is no recovery if you blow this one.

I just attended a friend's wake yesterday. 44 years old. Three kids under ten and a mortgage. Think he could have used more insurance?

Don't put it off. Just make the call.

The September report is out in preliminary form to my clients.

The August Hoboken Real Estate Report is now available.

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Sept 27- Oct 4

Hoboken Open House Map Ocober 2nd & 3rd

2010-10-01T08:29:00.000-07:00

Hoboken Open Houses Map

Weekend of 10/2, 10/3

The Hoboken Arts and Music Festival is Sunday 11am-4pm. Please plan a little extrta time in your open house viewing schedule to stop by my booth between 1st and 2nd St. I am demo-ing a new free app that will give you the power to search the mls from your cellphone!

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:

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)

And Here's the new feature.... All of the open houses in speadsheet form! Cool right? You don't have to thank me. All I ask is for the opportunity to be your personal realtor. And if you know of anyone who could benefit from my sevices, I'd be happy to follow up with them.

Information is deemed reliable but not guaranteed.

Hoboken Open Houses Map weekend of October 2nd&3rd

This Week In Hoboken Real Estate: Sept 20-27

2010-09-27T17:23:00.000-07:00

This Week In Hoboken Real Estate: Sept 20-27

Another quiet weeknd for open houses. There just weren't that many of them realtive to the amount of inventory. The weather was too good but how would anyone know that a week when the publishing deadline is a week in advance.

Reading the tea leaves. Only 33 contracts for the first four weeks of September. Sellers should be reducing now.

How is the overall Hoboken Real Estate Market? 654 condos sold in 2009. 574 sold in the first 9 months. I am confident that even with a slow down, more condos will be sold this year.

The September report will be out in preliminary form next week to my clients.

The August Hoboken Real Estate Report is now available.

A few of the highlights 52 Condos Sold. 51 Condos under contract. Only six over $600k

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Sept 20-27

Hoboken Open House Map Weekend 9/25 & 9/26

2010-09-24T14:56:00.000-07:00

Hoboken Open Houses Map

Weekend of 9/25, 9/26

The first fall Open House weekend. No apple picking. Just more football and open houses!

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:

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 Septmeber 25th&26th

This Week In Hoboken Real Estate: Sept 13-20

2010-09-20T18:39:00.000-07:00

This Week In Hoboken Real Estate: Sept 13-20

Quiet weeknd for open houses. The weather was too good.

Reading the tea leaves. Only 19 contracts for the first three weeks of September. Sellers should be reducing now.

The August Hoboken Real Estate Report is now available.

A few of the highlights 52 Condos Sold. 51 Condos under contract. Only six over $600k

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Sept 13-20

Hoboken Open Houses 9/18, 9/19

2010-09-17T18:50:00.000-07:00

Hoboken Open Houses Map

Weekend of 9/18, 9/19

The first fall Open House weekend. No apple picking. Just more football and open houses!

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:

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 Septmeber 18th&19th

Six Things That A Hoboken Seller Should Never Do

2010-09-17T09:17:00.000-07:00

Six Things That A Hoboken Seller Should Never Do

(Hoboken Open House Directory To be published this evening.... )

Someone sent me the six things never to post on Facebook. ugh. If you didn't already know, there is probably someone in Uzbekistan using your identity already....but keeping with theme....

1) Leave It Cluttered. I know you have to have the 15 kids toys in the living room. But that means the hutch must go. Do you relly think a buyer isn't going to notice all that junk jammed in the corner? If it's too small for you, it's going to be too small for them.

2) Leave It Dirty. I'm not talking dirty dishes in the sink. That I think you can figure out. It's the closets, the pantries, the kitchen cabinets. Don't jam it in there. weed it out. You have to pack it anyway. So pack it and store it.

3)Leave your pet crated. Yes, it is better than having Fido bite the buyer (or more importantly the realtor) but it takes away from the buyer looking at the home. I am not even going into wee-pads and litter boxes.

4) Be home. Get out and stay out. Don't be hanging down stairs. The buyer doesn't want to put a face to a home. Do you really want to answer questions about the roof, hallway smells and sump pump for the garage.

5) Save on Electricity. We all want to be green and save a little green too. Do not be penny wise and pound foolish. If it's the summer and you have a 6pm appointment, set your thermostat at 65 degrees for 5pm. When the buyer walks in sweating, it will feel great.... It will feel like home. Spend the extra $2 on with PSE&G. Actually spend $2.50 and leave all of the lights on all day. Don't let the buyer walk into a dark house.

6) Fix Items After The Home Inspection. Fix them before. You know it's broken. Fix it before it becomes a problem for the buyer and your sale implodes. This especially goes for items that will kill your deal that could have been non-issues. (I.e overstated square feet, issues with parking spaces and back yards. )

Now to the Facebook article...
You can certainly enjoy networking and sharing photos, but you should know that sharing some information puts you at risk. What should you never say on Facebook, Twitter or any other social networking site?

Your Birth Date and Place

Sure, you can say what day you were born, but if you provide the year and where you were born too, you've just given identity thieves a key to stealing your financial life, said Givens. A study done by Carnegie Mellon showed that a date and place of birth could be used to predict most — and sometimes all — of the numbers in your Social Security number, she said.

Vacation Plans

There may be a better way to say "Rob me, please" than posting something along the lines of: "Count-down to Maui! Two days and Ritz Carlton, here we come!" on Twitter. But it's hard to think of one. Post the photos on Facebook when you return, if you like. But don't invite criminals in by telling them specifically when you'll be gone.

Home Address

Do I have to elaborate? A study recently released by the Ponemon Institute found that users of Social Media sites were at greater risk of physical and identity theft because of the information they were sharing. Some 40% listed their home address on the sites; 65% didn't even attempt to block out strangers with privacy settings. And 60% said they weren't confident that their "friends" were really just people they know.

Confessionals

You may hate your job; lie on your taxes; or be a recreational user of illicit drugs, but this is no place to confess. Employers commonly peruse social networking sites to determine who to hire — and, sometimes, who to fire. Need proof? In just the past few weeks, an emergency dispatcher was fired in Wisconsin for revealing drug use; a waitress got canned for complaining about customers and the Pittsburgh Pirate's mascot was dumped for bashing the team on Facebook. One study done last year estimated that 8% of companies fired someone for "misuse" of social media.

Password Clues

If you've got online accounts, you've probably answered a dozen different security questions, telling your bank or brokerage firm your Mom's maiden name; the church you were married in; or the name of your favorite song. Got that same stuff on the information page of your Facebook profile? You're giving crooks an easy way to guess your passwords.

Risky Behaviors

You take your classic Camaro out for street racing, soar above the hills in a hang glider, or smoke like a chimney? Insurers are increasingly turning to the web to figure out whether their applicants and customers are putting their lives or property at risk, according to Insure.com. So far, there's no efficient way to collect the data, so cancellations and rate hikes are rare. But the technology is fast evolving, according to a paper written by Celent, a financial services research and consulting firm.

Six Things That A Hoboken Seller Should Never Do
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This Week In Hoboken Real Estate: Sept 8-13

2010-09-13T18:28:00.000-07:00

This Week In Hoboken Real Estate: Sept 8-13

Are you ready for some football? I think a lot of people are. The rain and football caused a dead week for open houses.

Quick musings. I am seeing a lot of retreads in the new to market section. You can slap lipstick on a pig but without a serious price reduction the market will not bite.

The August Hoboken Real Estate Report is now available.

A few of the highlights 52 Condos Sold. 51 Condos under contract. Only six over $600k

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Sept 8-13

Hoboken Open Houses Map

2010-09-10T15:21:00.000-07:00

Hoboken Open Houses Map

Weekend of 9/11, 9/12

The first fall Open House weekend. No apple picking. Just football and open houses!

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:

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 Septmeber 11th&12th

This Week In Hoboken Real Estate: Aug 30- Sept 8

2010-09-08T15:11:00.000-07:00

This Week In Hoboken Real Estate: Aug 30- Sept 8

Bye bye summer. Hello Fall.

Quick musings. Loving these new parking meters. No more lost quarters. Does this mean less revenue for the city? Are meter maids getting laid off??? Here's an idea, just ticket the continuously illegal parked Escalades at Carlos' backdoor. Nothing shouts Jersey more than a few people stepping in a financial windfall and then blowing it on a gas guzzling Escalade in a town where they can't find space to park it. Why isn't that on the show? (Maybe it is...I don't watch.)

On the green topic..and I'm no greenie. I heard on the radio that NYC is going to paper voting ballots. In an era when I can purchase a car with a couple of mouse clicks, I need paper to vote. Let's bring back subway tokens. I used to love mixing them up with my change. All that rattling in my pocket was like a symphony of riches. Think I'm going to get in my lead gasoline powered car and drink a six pack while driving home. Ahhh the good old days....

Now back to our regularly scheduled program....(aren't you glad you have Tivo)

The August Hoboken Real Estate Report is now available.

A few of the highlights 52 Condos Sold. 51 Condos under contract. Only six over $600k

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Aug 30- Sept 8

This Week In Hoboken Real Estate

2010-08-30T19:19:00.000-07:00

This Week In Hoboken Real Estate: Aug 21-30

Last week my week was three weeks long this week it's only nine days! By next week I should be on track. I am feeling a little like Alice in Wonderland. Eat some of this to make you small, dring some of that to make you big.

Musing from the Hoboken front. I wonder what a different place Hoboken would be today if people stood three hours in line to vote but only stopped by the bakery when it was convenient?

I am continuing my good will gesture to all of those who have put up with my conspicuous absence (in body, not spirit) I am giving you my Hoboken Real Estate Report July Update here for free.

The Q2 Hoboken Real Estate Report is also available but you have to let me know where to send it.

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Aug 21-30

This Week In Hoboken Real Estate: Aug 1-21

2010-08-23T17:21:00.000-07:00

This Week In Hoboken Real Estate: Aug 1-21

I know. I know. Aug 1-21 is not really a week but three weeks. I've been gone to conferences and accompanying beaches for the past three weeks. So what looks like three weeks to those left at the salt mines is really one week of Inside Hoboken real Estate!

As a good will gesture to all of those who have put up with my conspicuous absence (in body, not spirit) I am giving you my Hoboken Real Estate Report July Update here for free.

The Q2 Hoboken Real Estate Report is also available but you have to let me know where to send it.

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: Aug 1-21

Hoboken Open House Map July 24 & 25

2010-07-23T10:02:00.000-07:00

Hoboken Open Houses Map

Weekend of 7/24, 7/25

The summer open house schedule is light, as expected. The weather has been nothing but beach weather. What a difference from last year.

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:

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)

And Here's the new feature.... All of the open houses in speadsheet form! Cool right? You don't have to thank me. Just make me your realtor. And if you know of anyone who could benefit from my sevices, I'd be happy to follow up with them.

Information is deemed reliable but not guaranteed.

Hoboken Open Houses Map weekend of July 24th and 25th

Summer Slowdown: This Week In Hoboken Real Estate

2010-07-22T07:58:00.000-07:00

This Week In Hoboken Real Estate: July 12-19

Summer Slowdown. The market is slowing. I am slowing. Three days late on the weekly report. Must be the heat.

Under contract is the scary number. 11 more. July is coming a crashing down. Price changes are few given the market.

Good News: The Q2 Hoboken Real Estate Report is now available!!!

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: July 12-19

Shop Worn: This Week in Hoboken Real Estate

2010-07-13T18:02:00.000-07:00

This Week In Hoboken Real Estate: July5-july 13

Shop Worn: Hoboken Real estate is like going to Macy's the first week in January. The holiday sales are over. The holiday gifts were bought. Items exchanges. Gift cards issued. You look around and it's just retreads until the spring collection comes out... Here we are. Not much exciting to hit the market. A few good properties come and go under contract qucikly and everything else just sits...

40 New Condos to The Hoboken Real Estate Market
28 Price Changes
9 Under Contract
25 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report May update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: July 5-13

Hoboen Open Houses Map and Spreadsheet July 11th

2010-07-09T06:17:00.000-07:00

Hoboken Open Houses Map

Weekend of 7/10, 7/11

Last week was a slow week. There was only one open house. Who was the sucker? Me. Open houses on a holiday weekend are like big game hunting. You mostly won't see anything but if you do...bam. Anyone out on a holiday weekend is SERIOUS. I thought I owed that to my seller...

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:

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 July 10th and 11th

Crunch Time: This Week In Hoboken Real Estate

2010-07-06T18:57:00.000-07:00

This Week In Hoboken Real Estate: June 28-July5

Crunch Time: Sunscreen is out. The Grill is on high and the burgers are cooking. Summer is officially here. Hoboken has migrated south and east and north and west. If you're here, you're square. Buyers are going to be VanWinkling for the next two months....Sellers best bang the drums.

26 New Condos to The Hoboken Real Estate Market
26 Price Changes
11 Under Contract
24 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report May update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: June 28-July 5

Flood Insurance Now Available

2010-07-01T13:16:00.000-07:00

Flood Insurance Now Available!!!

Proof Obama reads my blog. (Sorry Mr. Presidient about that crack about you bankrupting the country, and the one about being Pelosi's lap dog, and the one about those pointy ears and....)

Yes after exposing Hoboken to the cold harsh reality only yesterday, you can now get flood insurance again...until September. If your condo association is under funded ($250k per unit) have them get it while it's available.

And more good news for the roughly 180,000 Americans who were up the creek without a paddle when they couldn't close by June 30th....You've been extended too. ...see below...

Homebuyer Tax Credit Closing Deadline Extended

Congress has passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law.

The National Association of Realtors worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.

Lost In The Flood In Hoboken

2010-06-30T19:16:00.000-07:00

Flood Insurance. It's for people in Iowa, Missouri and other lazy summer places near Mark Twain's Mississippi River. Seems like every few summers the tv is showing footage of these bucolic places covered upto the top a stop sign in water.... Good thing they have flood insurance. I always wondered what company is dumb enough to cover them? The answer...our federal government. EXCEPT the government who gave us health care and financial reform has temporarily stopped selling flood insurance.

No big deal, Hoboken isn't near The Mississippi. EXCEPT Hoboken is in a flood plain. What this means to you. If your condo association doesn't have enough flood insurance, no big deal you can just buy more for the condo that you're about to buy. EXCEPT you can't. The store isn't just closed. There is no store.

As the Soup Nazi would say...No Condo For You!

Better call your congressman. They care...If they are buying a house in a Flood plain.

Sticker smiles sweet as Gunner breathes deep, his ankles caked in mud
And I said, "Hey, gunner man, that's quck sand, that's quicksand, that ain't mud
Have you thrown your senses to the war, or did you lose them in the flood?"

This Week In Hoboken Real Estate: June 21-28 The June Swoon

2010-06-28T18:27:00.000-07:00

This Week In Hoboken Real Estate: June 21-28

The June Swoon Continues At this rate, Hoboken will have the lowest under contract totals since December. The Hoboken Real Estate market has slowed down with the hot weather.

37 New Condos to The Hoboken Real Estate Market
26 Price Changes
11 Under Contract
25 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

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Still want more? Get my Hoboken Real Estate Report May update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: June 21-28

Hoboken Open Houses June 26 & 27th

2010-06-25T07:46:00.000-07:00

Hoboken Open Houses Map

Weekend of 6/26, 6/27

The sandwich weekend between Dad's Day and 4th of July. .

A new Hoboken open house feature below....

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:

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

This Week In Hoboken Real Estate: June14-21

2010-06-21T18:35:00.000-07:00

This Week In Hoboken Real Estate: June 14-21

The June Swoon. The Hoboken Real Estate market has slowed down with the hot weather.

42 New Condos to The Hoboken Real Estate Market
41 Price Changes
9 Under Contract
40 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report May update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: June 14-21

This Week In Hoboken Real Estate: June 7-14

2010-06-14T18:18:00.000-07:00

This Week In Hoboken Real Estate: June 7-14

So here we are speeding towards the summer . Hoboken sellers better start thinking price reductions if they want their homes sold before the back to school ads start hitting the airwaves. The number of condos under contract still low this week. A harbinger of the summer to come?

63 New Condos to The Hoboken Real Estate Market
48 Price Changes
14 Under Contract
28 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report April update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: June 7-14

Hoboken Open Houses Map 6/12 & 6/13

2010-06-11T08:35:00.001-07:00

Hoboken Open Houses Map

Weekend of 6/19, 6/20

Happy Father's Day.

A new Hoboken open house feature below....

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:

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

This Week In Hoboken Real Estate: May 31- June 7

2010-06-07T18:52:00.000-07:00

This Week In Hoboken Real Estate: May 31- June 7

So here we are speeding towards the summer . Hoboken sellers better start thinking price reductions if they want their homes sold before the back to school ads start hitting the airwaves. The number of condos under contract took a sharp downward turn this week. A harbinger of the summer to come? Another week that is almost a mirror image of last.

29 New Condos to The Hoboken Real Estate Market
31 Price Changes
9 Under Contract
18 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report April update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: May 24-31

HobokenOpen Houses Map Weekend of June 5th & 6th

2010-06-04T11:07:00.000-07:00

Hoboken Open Houses Map

Weekend of 6/5, 6/6

A quiet summer weekend in Hoboken.

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:

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

This Week In Hoboken Real Estate: May 24-31

2010-06-01T08:52:00.000-07:00

This Week In Hoboken Real Estate: May 24-31

So here we are speeding towards the summer . Hoboken sellers better start thinking price reductions if they want their homes sold before the back to school ads start hitting the airwaves. The number of condos under contract took a sharp downward turn this week. A harbinger of the summer to come?

30 New Condos to The Hoboken Real Estate Market
30 Price Changes
9 Under Contract
18 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report April update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: May 24-31

Hoboken Open Houses Map Memorial Day Weekend

2010-05-28T13:21:00.000-07:00

Hoboken Open Houses Map

Weekend of 5/29, 5/30

A quiet weekend in Hoboken. Plenty of free parking for all!

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:

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 Memorial Day Weekend

This Week In Hoboken Real Estate: May 17-24

2010-05-24T17:55:00.000-07:00

This Week In Hoboken Real Estate: May 17-24

So here we are speeding towards Memorial day with the home buyer credit in the rear view mirror and the dog days of summer on the Horizon. Hoboken sellers better start thinking price reductions if they want their homes sold before the back to school ads start hitting the airwaves. The number of condos under contract took a sharp downward turn this week. A harbinger of the summer to come?

47 New Condos to The Hoboken Real Estate Market
43 Price Changes
10 Under Contract
27 Sold Hoboken Properties

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report April update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: May 17-24

Hoboken Municipal Garage Patriots

2010-05-24T12:06:00.000-07:00

Hoboken Municipal Garage Patriots

Last week IHRE wrote about the City's plan to put The Hoboken municipal garage in a residential neighborhood, next to a community center and across the street from a school. Understandably residents are upset at the attack on their home values and way of life. I attended the City Council meeting to check it out. (and since I live across the street from the proposed site, I am very concerned on a personal level.)

Here is my take away:

1) The council who are in favor of this are bad politicians:
At the beginning of the meeting, there was a vote to move this issue to the beginning of the meeting. Our elected officials decided to make the public wait over three hours to speak. So much for caring about the people....but maybe in a larger sense they do!... That's three hours to showcase to the public what totally unqualified blowhards they are. In three short hours I am a much more educated voter.

2) The council and mayor will lie to your face.
Citing compromising ongoing negotiations, the council refuses to take the Jackson Street location of the table all while saying they are exploring all possible sites. No one was at the meeting for an alternative site. Do these people really think that a potential seller/lessor doesn't know the public sentiment? More likely, the mayor and council hope we will go away.

It's temporary. One citizen did some digging and found that the council was in negotiation to do a lease with option to purchase the Jackson Street site. Does that sound temporary?

3) We are a community!
In the short time since this ill conceived plan was announced, people form our community have banned together to say: enough. I can't help but think of the movie The Patriot, with Mel Gibson. In the movie, Mel was a southern farmer in Revolutionary times. As the war approached, Mel preferred to sit it out and raise his family. (A lot like many of us. I've worked across the street from City Hall for near a decade. I've watched politicians fall short on promises, have major lapses in ethics, got to jail and mainly not get caught while they lined their own pockets at the expense of the town the purportedly serve. In short, I was Mel Gibson's farmer.) Then the British bring the war to Mel, attack his home and his family. Mel gets mad and leads the militia which stops the British in their tracks and turns the tide of the war.

Council people Lenz, Cunningham, Bhalla, Marsh, and Mello have created hundreds of Mel Gibson like Patriots with their arrogance and clear display of not appreciating that they were elected by the people for the people. These Patriots all have their own militia. It's their spouses, families, neighbors, parishioners and friends.

The Hoboken municipal garage is now but the first battle in the war. It's a war on the future electability of five people who live amongst but no longer with the anonymity afforded people we trust. Mello, Bhalla, and Marsh get three more years of living off of the city before they can be stopped, while Cunningham has only one year. Plenty of time to really pay attention and fight them at every turn. Mr. Lenz is up for special election in the 4th ward. Wonder who is running against him and how we Patriots can get involved?

Learn more and get involved in the fight to stop the move to Jackson street.

For Those About To Rock We Salute You!

Hoboken Municipal Garage Patriots

Hoboken Open Houses Map

2010-05-21T11:15:00.000-07:00

Hoboken Open Houses Map

Weekend of 5/22, 5/23

20 1br, 32 2br, 14 3+br

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:

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

Hoboken VS The People Of Hoboken

2010-05-19T12:34:00.000-07:00

Hoboken VS The People Of Hoboken

Back in my younger days, when I had a lot of free time on my hands there was a computer game that I sort of enjoyed. It was called SIM CITY. SIM CITY was a game where the player acted like an urban planner to build a town into a city. You'd get points and bonuses for doing a good job. There was a budget. See you'd build homes and if you wanted people to live in them you'd build parks, and you'd build fire stations, and police stations. It was this growing complex of serving a thriving metropolis and not going bankrupt. (Sort of like a Farmville on steroids.) The great thing about SIM CITY is when you messed up, you'd get to start over.

One can only wonder if The Hoboken City Council and Mayor are playing their own version of SIM CITY only with real consequences. As if trapped in a real life "War Games" Movie, we are faced with teaching THE SIM HOBOKEN operators that this is not a game. In the movie, a pre-Ferris Bueller, Matthew Broderick, has to teach the computer controlling our nuclear arsenal that it is not playing a game but that a launch has real catastrophic results and there are no winners. In real life, our elected leaders have seemingly turned on THE SIM HOBOKEN program with no practice. Here's the latest example:

http://hoboken411.com/archives/42903

Let's move the Hoboken municipal garage to a residential neighborhood, next to a youth center, and 120 feet from a grade school. In the SIM CITY game, this would cost you points and residents would move away ,the school would close and the youth center would close. Hey, no big deal, you could always start over. In real life, would be buyers hear the noise, smell the stench and see the street parking reduced to nil as city vehicles illegally park all over the place. (Drive by Willow between Newark and Observer during the day and see what I mean.) In real life, the school is stuck too. So the little ones sit in the classrooms with the smell of recycling garbage and diesel. How distracting can it be? And the youth center...Ahh the youth center....Let's kick the community when it's down...didn't most of the families who use the youth center vote for Cammarano anyway?.......

Here's the rub: If they can "temporarily" put the Hoboken Municipal Garage in a neighborhood with a school, a youth center and surrounded by residential apartments what can they put in your neighborhood? Is anyone safe if the City starts to run unchecked and against the wishes of its residents.... Maybe a sewerage treatment plant at the end of your block. Is your way of life safe in Hoboken?... Maybe a medical waste disposal site next to the school.

Our government is going to cry poverty and no where else to put the muni garage. Do you think it's a lie? Why all of the hush hush about it? Is it because it is a lie? There were/are alternative sites but the administration did not want to pursue them because they have their own agenda. There are still a great many options but it should come as no surprise that some of the council is putting their own agenda ahead of the people they serve. SHOCKING. See if a swing voter doesn't get a cushy city job after the vote. You heard it here and I will show you when it happens. SHOCKING. like conflicts of interest and no bids contracts. SHOCKING.

Why am I mad? Beyond my livelihood... My clients are facing uncertainty in the biggest investment many of them have, their home in Hoboken. It's hard enough as a buyer or seller to deal with the ever shifting market forces, but when your own city is seemingly out to get you, enough is enough.

Let the council know you'd like them to be public servants instead of the public serving them. This is not a SIM game!

Raviner Bhalla: rbhalla@rsblawfirm.com
Theresa Castellano: email@castellanoforhoboken.com
Peter Cunningham: cunninghamforhoboken@gmail.com
Nino Giacchi: mgiacchi@juno.com
Mike Lenz: mikelenz@aol.com
Beth Mason: beth@masoncitycouncil.org
David Mello: dmello@hobokennj.org
Carol Marsh: cmarsh@hobokennj.org
Michael Russo: councilmanrusso@aol.com

Hoboken VS The People Of Hoboken

This Week In Hoboken Real Estate: May 10-17

2010-05-17T17:35:00.000-07:00

This Week In Hoboken Real Estate: May 10-17

So here we are speeding towards Memorial day with the home buyer credit in the rear view mirror and the dog days of summer on the Horizon. Hoboken sellers better start thinking price reductions if they want their homes sold before the back to school ads start hitting the airwaves. I know one prominent Hoboken real estate agent who was hammering clients for between 3-5% reductions across the board.

44 New to Market
52 Price Changes
18 Under Contract
21 Sold

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

Still want more? Get my Hoboken Real Estate Report April update or Hoboken Real Estate Trend Report.....

This Week In Hoboken Real Estate: May 10-17

Hoboken Open Houses May 15th & 16th

2010-05-14T13:29:00.001-07:00

Hoboken Open Houses

Weekend of 5/15, 5/16

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:

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 May 15th & 16th

Hazardous Waste Days

2010-05-11T07:46:00.000-07:00

Hazardous Waste Days

It's that time of year again when Hoboken residents get to pack up their "hazardous waste" and drive to another town to dump it.... Like some of the brown field lots in Hoboken could get more contaminaed by a few flourescent lightbulbs.

So here we go.. Driving to Jersey City, Bayonne, Kearney or North Bergen....Sellers this is a must! Dump the junk. www.njhazwaste.com

Some interesteing new changes....

If you saved alkaline batteries for Waste Days. Forget about it. Throw them out in the trash. Have we lowered our standards? Have batteries gotten safer? I don't know. Just toss them.

Latex paint... Toss it. No more midnight run and dumps in front of the Home Depot. They sell it, they should be able to process it... The waste guys want you to fill the paint can with kitty litter or some other absorbent material. Personally, I always thought it was cool to watch a can of paint explode inside the garbage truck crusher.

Back to the flourescent lightbulb.... Like the Prius with it's nickel metal hydride batteries, one can only wonder what wrath have we unleased with our exuberence for "green". Here are the official instuctions for the greenies.... When disposing of flourescent lights you must place the bulb pack in its original packaging (Like who has that), in an air tight container or wrap the bulb in celllophane, newspapaer or duct tape. This will prevent mercury contamination in the event of breakage. Scared yet? These things are in your home. Lots of them. When one burns out, you've got to have a place to store it for months. yeah that's likely. I'm going to have a few potential environmental hazards living in my condo with my family. Oops cat knocked over a bulb..better call hazmat...Do I have to disclose this when I sell????

Hey, The Hoboken Real Estate Report with May Update is now available!

Hazardous Waste Days

This Week In Hoboken Real Estate:May 3-10

2010-05-10T17:53:00.000-07:00

This Week In Hoboken Real Estate: May 3-10

46 New to Market
53 Price Changes
15 Under Contract
23 Sold

Heading to a post tax credit world. Fewer under contracts, more price reductions...

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: May 3-10

Hoboken Open House Map for the weekend of May 8th & 9th

2010-05-07T09:36:00.000-07:00

Hoboken Open House Map for the weekend of May 8th &9th.

There are 47 advertised Hoboken open houses!!! Happy Mother's Day!

16 Studios and one bedrooms
20 two bedrooms
11 three plus bedrooms

visit http://www.hobokenopenhousemap.com/ to sort by price or number of bedrooms.

Hoboken Real Estate: News and Notes

2010-05-05T07:09:00.000-07:00

Hoboken Real Estate: News and Notes

Did anyone see what came across the wire yesterday...

Monday, May 3rd, 2010, 4:14 pm

CitiMortgage — the mortgage finance arm of Citigroup (C: 4.26 -3.40%) — today lowered its jumbo mortgage rates “for highly credit worthy borrowers” according to an e-mailed statement.

Jumbo mortgages typically fall above the $417,000 conforming loan limits. As of today, Citi will offer 30-year fixed-rate jumbo mortgages at 5.625%. It will also offer five-year adjustable-rate mortgages at 4.875%. Recent jumbo rates regularly top 6%.

Good News if you are a seller with an home priced over $525k to sell.

....Heard that with the new zoning regulations that the backlog for any building project that needs zoning approvals is nine months. Great to see Hoboken working for it's citizens. Heck, I might be able to get an answer from Bank Of America of a short sale faster than that. Here's an idea...charge more money for the zoning applications. use the money to pay more people to be on the zoning board. Split the zoning board in two and handle twice as many applications in the same time. ...upsetting the apple cart of political power and entitlements again. forget it.

....Bike lane on Hudson Street? Rumor has it that the face in parking was replaced by parallel parking in order to put a bike lane in. Where are those parking spaces going? Does the city think that the cars will just "disappear"? The cynical me thinks that fewer parking spaces means more illegal parking and more illegal parking revenue. Time to buy another boot van. Here's an idea: Let's make all of the parking around city hall resident parking. How about our esteemed Hoboken employees get treated like the rest of us who pay taxes here. Would love to "The Commissioner Of Some Bloated Department The City Doesn't Need But Who Has A Cousin" have to circle the block for 45 minutes and not have any quarters. (Yes, I sit up late at night after watching Jack Bauer and I think of what would Jack do.)

A different kind of Boot Van.

Don't forget. The Hoboken Real Estate Report with May updates will be out next week sign up today.

Hoboken Real Estate: News and Notes

Title Insurance: Why You Need It

2010-05-04T11:40:00.000-07:00

Title Insurance: Why You Need It

Many buyers are confused about title insurance. Most think it is another thing cooked up by the banks to drive up the cost of real estate transfer. The truth is that while it is expensive, it can be critical, especially in Hoboken.
What is title insurance anyway?

From our friends at Wikipedia... Title insurance in the United States is indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Title insurance is principally a product developed and sold in the United States as a result of the comparative deficiency of the US land records laws. It is meant to protect an owner's or a lender's financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy. The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853.[1] The vast majority of title insurance policies are written on land within the U.S.

Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease or life estate. Just as lenders require fire insurance and other types of insurance coverage to protect their investment, nearly all institutional lenders also require title insurance to protect their interest in the collateral of loans secured by real estate. Some mortgage lenders, especially non-institutional lenders, may not require title insurance.

What is important is that title insurance will not protect your property as much as it protects your investment.

Why do I need it if the mortgage company also does a title search?

The title insurance is a backstop in case the title search misses something. Is it possible? absolutely. Have you ever been to the county records department in Journal Square. It's filled with a bunch of "moles" locked in this windowless room, hacking away on terminals looking for liens against properties. It's like a little fraternity of politically incorrect partially shaven, partially bathed glorified fast food workers. I am sure their work is impeccable, even if their hygiene isn't.
Title Problems in Hoboken.

Two words for you. Riparian rights. Riparian refers to water. ( I learned that while studying for my real estate license. Never thought I would need it since I wasn't planning on selling lake front homes...) In case some readers are not familiar, Hoboken used to be all streams and canals. Then the land was filled in, factories built, factories torn down, homes built, homes torn down apartment building built. Ahh but what about those riparian rights? Seems as though the State of New Jersey has land rights to the riverbeds. Rights do not just go away even when the river runs dry, factories are built, factories are torn down, homes are built, homes are torn down and condo buildings are built. So The State of New Jersey wants it's pound of flesh a century and a half later. Title companies are scrambling....What if they are out of business? I don't know. Hire a lawyer I guess. I do know the state has claims and will be looking for some way to pay for all of those excess state workers.

What does this mean to the Hoboken Homeowner?

Probably not a big deal unless you are selling. Then what? Depends on the buyer's mortgage company and the results of a title search. Banks are looking for any excuse not to lend. Do you think a cloud on the title based on a centuries old claim by the state government might be one of them? However, if your title company is working to settle with Mr. Christie then maybe you get to sell and move to Montclair or some higher elevation.

After two days in the desert sun
my skin began to turn red.
After three days in the desert sun
I was looking at a river bed.
And the story it told of a river that flowed
made me sad to think it was dead.

Title Insurance: Why You Need It

This Week In Hoboken Real Estate: April 26- May 3

2010-05-03T18:23:00.000-07:00

This Week In Hoboken Real Estate: April 26- May 3

38 New to Market
43 Price Changes
36 Under Contract
21 Sold

Heading to a post tax credit world. Few new to market, fewer price reductions...

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: April 26- May 3

Hoboken Open House Map for the weekend of May 1st

2010-04-30T14:05:00.000-07:00

Hoboken Open House Map for the weekend of May 1st &2nd.

There are 43 advertised Hoboken open houses!!! Arts Festival Weekend!

14 Studios and one bedrooms
23 two bedrooms
6 three plus bedrooms

visit http://www.hobokenopenhousemap.com/ to sort by price or number of bedrooms.

A Sale That's Not A Sale

2010-04-28T10:09:00.000-07:00

A Sale That's Not A Sale

The Homebuyer Tax Credit isn't even in the can and the marketing gimmicks are out to get buyers buying. .....A shameless ploy to bring buyers through the doors..... Here's a preview:

National Real Estate Company Not Named RE/MAX Buyer Bonus

Missed the home buyer tax credit?

Now there's an even better Buyer Bonus!

May 1st - July 31st

Get up to an $8,000 credit back at closing.

Participating properties will appear beginning May 1st. Come back to search for your dream home!

The National Real Estate Company Not Named RE/MAX Buyer Bonus Event is a national sales promotion that begins on May 1st and lasts through July 31st, 2010. Sellers participating in the promotion are giving 3% of the accepted offer price up to $8,000 credit at closing back to homebuyers who sign an offer before the July 31st deadline.

Open to all home buyers - No income limitations - No property eligibility requirements

The home buyer tax credit has come and gone. Fortunately, the door is now open to something even better - the National Real Estate Company Not Named RE/MAX Buyer Bonus Event! But hurry, The Buyer Bonus is a limited-time offer.

Let's look at the facts of this "Big Event".

1) Upto $8000. Any property under $266,667 is getting less.

2) Banks love when sellers give money back. They allow for up to the closing costs. (According to the IHRE Mortgage guy, it's likely less than 3% on a $400k purchase.) What happens when you have a $1000 home inspection issue. If the seller gives the $1000, bet I know which 3% that comes out of.

3) "Participating" sellers also know that you are going to get another 3% when negotiations are finalized. Bet most of these sellers have a bottom line too. It's not like walking into some store with an internet coupon that you whip out after making your best deal.

4) Limited Time Offer. In the Hoboken market where the average discount to sale price is 5%, what does this 3% thing mean. It's like walking onto a used car lot and seeing all cars are 3% off this weekend only. Think you might be able to negotiate a 3% discount on your own this weekend, next weekend, next month, next year??? Might this be a line of reasoning that the seller's agent is using to get the seller to agree to participate?

5) Let's combine numbers two and three in a perfect storm scenario. Buyer wants a place for $400k Sellers bottom line number is $400k. They settle at $408k with an $8000 rebate. Home inspections issues are $10,000. Maximum seller concession is 3% or $12,000. Seller gives $10,000 for home inspection issues and $2,000 rebate. Buyer pays $406k, not $400k. I can hear this deal blowing up all the way across town.

So to recap. Buyers will be rushing in to 1) sometimes get less than the $8000. 2)Have the "rebate" lessened by other seller concessions. 3) Be negotiating against themselves and 4) getting worse or the same deal they can get on their own in most cases. 5) an unstable situation where purchases are likely to fail during home inspection.

This is what I call a win-win. Kudos to the marketing genius that came up with this one.....Probably an Ohio State grad. Names have been changed to keep that guy in a job and off the city's payroll....He has a cousin...need I say more.

A Sale That's Not A Sale

This Week In Hoboken Real Estate: April 19-26

2010-04-26T15:11:00.000-07:00

This Week In Hoboken Real Estate: April 19-26

45 New to Market
61 Price Changes
18 Under Contract
28 Sold

Heading to a post tax credit world. Few new to market. More price reductions...

AN IMPORTANT NOTE: if you click on the links in the speadsheet, it opens a page with more info about the property. If you want to see additional pictures, you must register. I didn't make the system.

This Week In Hoboken Real Estate: April 19-26

Attention Post Tax Credit Hoboken Buyers: The greatest time to buy a home in the history of mankind is now.

2010-04-26T13:50:00.000-07:00

Attention Post Tax Credit Hoboken Buyers: The greatest time to buy a home in the history of mankind is now.

I am not given to hyperbole. Okay I am but maybe not so much in this case. There are several factors coming together right now that have created a perfect storm for buyers in Hoboken's real estate market. Let's look at the contributing facts.

1) Inventory is up. The guts if the Hoboken real estate market are condos priced between $350,000 and $550,000. Coincidently, this range is the upper range of buyers who are under the income limit for the homebuyer tax credit but can still qualify for a mortgage. Interestingly, at the higher end of this range buyers would like to get the credit but are not rushing into a property for what is essentially a two percent discount. Thus despite the sharp rise in the number of contracts in March and April , there was an even greater number of condos coming onto the market. The total number of available condos rose over 25% from January 15th to April 15th.

What happened? Sellers decided to get in the game. There were a lot of buyers out there with $8000 to spend. So sellers got off of the sidelines. An important item to remember is emotion. Some of these sellers have checked out. They are already planning their next move. They probably went to Ridgewood or Maplewood or Westfield to check out the town. They've done some online searching and maybe attended an open house. These sellers fall in the category of don't have to move but now really, really want to move. This checked out seller is a motivated seller. Motivated does not mean going to give the house away at a fire sale price. It means there is likely another 3-5% to be negotiated from pre tax credit pricing.

To recap: Inventory is up. Buyers have choice. There are good deals.

2) Low interest rates. You've heard it all before. The interest rates are low. They've been low for a long time and from every expert you listen to they will rise. Next week, next month, next quarter....definitely by next year. No big deal? A little one percent pop in rates is worse than a 10% price increase. Do the math. Your cost of ownership goes up with every tick in your mortgage. Locked in for the life if your loan. The old adage buy low, sell high. It's low.
To recap: Only one way for interest rates to go.

3) This is not the depression. Doesn't it seem like whenever homes are on sale, you have no money. If I had a nickel for every old timer that said "I could have bought that place for $10,000 in 1970 and it's worth $2,000,000 today". When the market is depressed most people are depressed to. Economy in the tank and your worried about your job = you don't buy. Need to hoard cash because times could get tough. Well seven times more millionaires are made in tough economic times than in good ones. There's more upside when prices are down. And if you've seen those bonuses coming out of Wall Street, 1929 is not just around the corner.

4 & 5) Summer time and the money is easy. Check the calendar. Check the weather. Spring has sprung. April showers almost over. May flowers pushing on through. Before you've has a chance to analyze your fantasy baseball team, it's flag day and the beginning of summer. Sellers know this. That ticking sound is the clock in the buyer's head that sends him to the beach and away from thoughts about buying homes. Sellers who don't want to risk waiting for a fall market to materialize should be willing to bargain.

Did anyone notice that the credit crunch is over for buyers with good credit. HFA loans, 10% down loans and even 5% down loans are all the rage. It's good to be able to shop with confidence.

6) Buyers are resting. The race for the $8000 is over. Some buyers will invariably take a break until fall when they can be part of a crowd again. The beach is nice in the summer. Gas grills go on sale in the fall. Why? maybe Home Depot has learned that no one needs a grill to cook Thanksgiving turkey and it costs them a whole lot more to store them than to sell them and bring in the snow shovels.

So if you're a would be condo buyer in the Hoboken real estate market, are you excited yet? I am. I am excited because I know that I will be able to find you a home for a good price and you'll be able to get a mortgage. Moreover, there won't be a lot of pesky competition that fill sellers heads with price wars and above asking offers.

Yes. Summertime and the living is easy.

Buyers who disregard this analysis as the ramblings of a realtor suffering from post tax credit anxiety, do so at their own peril.

A little info to help buyers and sellers in a post tax credit world....

Q1, 2010 Hoboken Real Estate Report This report will give you a breakdown of the one the two and the three bedroom condo markets and a list of every condo sold in Q1.

Additionally, the latest version of my Hoboken Real Estate Trend Report is available

Also, I encourage you to sign up for my Hoboken Market Snapshot Report which sends a free customized report of a market segment. (i.e. one bedroom, one bath) on a biweekly or monthly basis. It's great for sellers and buyers alike.

Don't forget to check back here at www.insidehobokenrealestate.com for a weekly report on Mondays with new to the market, price changes, under contracts and solds. The Friday entry contains all of the open houses in Hoboken (www.hobokenopenhousemap.com)

I strive to give my clients, both sellers and buyers, a comprehensive and insightful look into the real time Hoboken market data which is not readily available from other realtors.

Please let me know how I can be of further service in your real estate needs

Attention Post Tax Credit Hoboken Buyers: The greatest time to buy a home in the history of mankind is now.

Hoboken Open House Directory Weekend of April 24th and 25th

2010-04-23T07:13:00.000-07:00

Hoboken Open House Map for the weekend of April 24th &25th.

There are 67 advertised Hoboken open houses!!! Market still strong.

18 Studios and one bedrooms
39 two bedrooms
8 three plus bedrooms

visit http://www.hobokenopenhousemap.com/ to sort by price or number of bedrooms.

Hoboken Realtors: Misguided Ad Men

2010-04-21T14:33:00.000-07:00

Somewhere David Olgivy is turning over in his grave somewhere while searching for property in Hoboken. (Hey when your in a 3x7 "garden level studio" you're always looking for more space.)

I know copywriters. I know good professional copywriters. I know ad people. I know good ad people. I know marketing people. I know good marketing people. And I know what skilled professionals are capable of. I also know when some realtor is using parlor tricks because they think some smoke and mirrors stunt is going to get people interested in their listing.

I could still be on tilt from the last two days....while dropping my three and five year old at a prestigious Hoboken public school. Day 1. both security guards not securitying but across the street smoking cigarettes like defiant teenagers. Day 2. Almost hit the crossing guard at the corner of 5th and Park as she is standing in the road having a smoke chatting with our local meter maid. This is not after hours but during prime drop off time.

So I am steamed. I am sure other security and crossing guards would be steamed to know that a few bad apples are giving them all a bad name.

So there's Mr. Olgivy looking at some places.
Here's one: blah blah blah...price available upon request. Is this some Crazy Eddie interent special "soooo good that we can't mention the price out loud." I may attract way too many buyers if everyone know the price.

Here's another: The copy reads..."this condo has it all." Except it is on the 5th floor and there is no elevator. ... All but an elevator. Think buyers might be fooled into thinking that all means elevator too?

Yet another. "A rare find." Two pictures , one is of the rooftops of Hoboken and a sliver of the Empire State Building. can't wait to see that one.

Speaking of pictures. I am thinking that unless your toilet is made of gold, there really isn't a reason to show a picture of it. Can see a buyer now....scanning through listings at www.hobokenhomefinder.com .... "Hey honey come here. Look at this one. It has a toilet.... Inside the apartment. And it's white! "

The only caveat to the toilet pics being if your house looks like a toilet....ahhh but I bet its crappy inside.

Don't forget my Q1, 2010 Hoboken Real Estate Report. It's free and available.

Hoboken Real Estate 2010
Available Condos 556
Information deemed reliable but not guaranteed