Archive for the ‘Condo Living’ category

Hoboken’s Million Dollar Views….With a Price Tag to Match!

March 2, 2011

Looking for a Hoboken home with a million dollar view? It may just come along with a price tag to match! Hoboken currently has 17 condos listed for sale at or above $1,000,000.

Many of these homes are located along the Hudson River in luxury condominium buildings such as Maxwell Place, Hudson Tea and The W-Hotel & Residences.

So if you just received your yearend bonus, why not treat yourself to one of Hoboken’s Million Dollar Condos
Happy shopping!

Condo Requirements From The FHA

November 28, 2010

There is news on the HUD home front stating that it is implementing new FHA condo requirements and new certification and recertification programs, in Hoboken and across the country.

For a condominium or a townhome development to qualify for FHA funding, they must be approved under new FHA rules implemented in February 2010. Spot approvals for individual units are no longer permitted. Hoboken condominiums approved prior to Oct. 1, 2008, must be recertified by Dec. 7, 2010. The recertification process may be performed by HUD via an HRAP Submission or by a lender with Direct Endorsement authority (DELRAP submission).

Beginning Jan. 1, 2011, in order for an FHA loan to fund, the condominium development also must meet the eligibility requirements at the time of underwriting to qualify for an FHA loan.

If you’re interested in buying a condominium with an FHA loan, before you fall in love with one, you will want to make sure it is certified for an FHA loan.

For help in finding a condo home in Hoboken that is certified for FHA loans, contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, a progressive city  where they’re always coming up with new ways of making it a better place to live, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886

 

Benefits of Living in Hoboken 4th Floor Walk-up Building

October 22, 2010

Hoboken, New Jersey – I sometimes get the question “What are the benefits of living in a Hoboken 4th floor walk-up building”  For those that have not had the privilege of having lived in one, it’s a term used to described a residential condo or apartment that does not have an elevator.  One has to “walk-up” the stairs to get to their home.

Here are two that come to mind!

Not to mention a brighter home with more light, possibly higher ceilings and no noisy neighbors stomping around above you…ahhhh quiet living!!

Oh yeah, it can help keep the in-laws away too. 😉

For more information on living in a progressive city like Hoboken, where they’re always coming up with new ways of making the city a better place to live, contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market  includes Hoboken, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.

Spacious Condo with Gorgeous Park Like Setting

March 22, 2010

A fantastic home in a serene park-like setting with sunlit east and west exposures. A great balance of a spacious 1475 sqft 2 bed plus den/ 3rd bedroom interior with a town home feel, laundry room with private storage and a private garage for one car inside, one car out. Nicely remodeled granite kitchen with Kenmore Elite appliances is situated nicely to your open living room complete with gas fireplace. You’ll enjoy the excellent floor plan and layout. Good sized bedrooms one with a walk-in closet. Relax outside on your spacious balcony, perfect for the spring, summer and fall. Hardwood floors throughout the home and central air conditioning. Remember, you have your very own huge laundry room with amazing storage right next to your private garage parking. What a luxury to have! NYC bus, light-rail, Columbus Park and Hoboken’s largest grocery, ShopRite are all nearby. This is truly a home of convenience, space and style. Take a look today!

Email info@InvestHoboken.com or call Edward (Eddie) Perez at 201-222-7550. Robert De Ruggiero Inc., Realtors www.InvestHoboken.com to search entire Hoboken –Jersey City MLS listings

http://www.HobokenRealEstateBlog.com for market statistics, news, new listings and more!!

Hoboken Condo Best Buy List

March 15, 2010

Here are this weeks hottest deals.  Email us for further info or to schedule to see in person.

Featured property:  502 Observer St #2, Hoboken:  Click Here to View Listings

3625 square foot town home. An abundance of living space & storage on three levels with 2 roof decks covering an additional 1000 sq. ft.  Home also features a private garage and space for 3 cars.  
Living space includes an open floor plan with south facing windows for brilliant sunlight, high ceilings, and spacious master suite with a large walk in closet and bath with double vanity.  A total of 3 bedrooms, two and half baths, a den with skylight and foyer.  Private elevator, laundry room, stainless steel appliances and central A/C complete this lovely home.  All within walking distance to the Path.

Offered at $984,000

CHECK OUT MORE HOT BUYS BELOW!

To see all of the following properties in detail: copy the following MLS#’s:  100003128, 100002673, 100002925 click Hot property details and paste into listing # box

920 Jefferson St #503, Hoboken:  Excellent 640 sqft one bedroom in newer elevator building with 175 square foot terrace with Empire State views and garage parking.  $379,000

MLS# 100003128

1500 Hudson St #9N, Hoboken:  Hudson Tea Building 735 square foot alcove studio with parking offered at $399,888

MLS#  100002673

212 Madison St #3B, Hoboken:  2 bedroom, 2 bathroom with parking, terrace, stainless appliances, granite counters and central air.  $439,900

MLS#  100002925

Allow me to help you explore the many wonderful opportunities to purchase a home in Hoboken. Whether it be a lovely condo, brownstone, Classic Victorian or anything in between; I guarantee you there is a home for you. Please contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey

Do I need Insurance for my Condo?

July 20, 2009

Owners of condominium units receive building or structural insurance80000 coverage from the association’s master insurance policy, but there may be many gaps of coverage. The insurance industry has responded to these gaps with the Condo Unit Owner’s Policy, or HO6. If you own a condo unit, you need an HO6 Policy.

Master Policies cover the building; condo units are covered by HO6

Historically, owners of single family homes have purchased “homeowner’s insurance” that is designed to protect against damage to the home, the personal property (contents), and the personal liability of the policyholder. In a condominium association, a “master policy” is purchased by the association that can protect unit owners and mortgagees against damage to the building and the units. Unfortunately, personal property and personal liability coverage are not included for the unit owners.

Personal Liability & Personal Property Covered in HO6

Due to this gap in coverage, insurance companies have created the condo unit owner’s policy. This policy provides a standard level of personal liability protection ($300,000 or $500,000 per occurrence) as well as a limit of personal property protection for the unit owner. Personal property is subjective to every case and limits can be as low as $15,000 and can go as high as need be for the individual owner.

Additional Coverage for Unit Structure Available

Also included in the condo unit owner’s policy is a section of coverage called “Dwelling.” This is the area of the policy that can provide the unit owner with additional coverage for the structure of the unit. While the association’s master policy may provide protection to the individual unit, an owner may want to supplement this level of coverage with additional protection on their own policy. This coverage can also be used to absorb the typically larger deductible on the association’s master policy per claim.

Inexpensive & Efficient Way to Cover Yourself

While the primary concern of any owner of real estate is the protection of the structure they own, it is important to understand the other areas of protection that are needed. Condo unit owner policies are a very effective and inexpensive way to fill the gaps of coverage a condo owner will encounter. Often, policies at the minimum level of coverage can be purchased for less than $200 per year.

For more great information go to How to Get a Home Inspection.

Allow me to help you find the home of your dreams Contact Eddie Perez at (201) 344-2886, www.investhoboken.com.

Should I Buy a Home or a Condo For Retirement?

July 12, 2009

As more and more baby boomers head toward their retirement years, buying-a-home-get-good-advicethey may discover that the home that seemed so perfect for a growing family suddenly seems far from ideal after the kids moved out. It can be a real pain to haul out the lawn mower or spend time shoveling snow from the driveway. Also, as their friends start to sell their homes, downsize and move into smaller homes or condos, boomers may find the idea even more appealing. Why face retirement with the burdens of a large home to maintain? Why not opt for a simpler lifestyle?

Realities Of Condo Ownership

Condos and homes designed for seniors and baby boomers come in a wide range of prices. It is entirely possible to sell your home, buy a less expensive condo and pocket the savings. You can find out what types of condos or homes are available in your area.

The tradeoff for a condo might be less square feet of living space, but the gain may be special amenities such as a pool, common clubhouse, gym or tennis courts. Other condos have saunas, sun decks, health clubs and even personal trainers on call.

Some condos also are situated on or near lakefront property, with access to free boat docks, fishing and water activities. All of this can add some very luxurious touches to your lifestyle, perhaps enough to make you decide a condo is indeed for you, especially if it comes with state-of-the-art appliances and upscale features. Sounds like a nice, easy lifestyle, doesn’t it?

Amenities In Condos And Homes

Amenities are often a big factor for seniors and baby boomers trying to choose between a condo and single family detached home.

Luxury condos even have 24-hour chauffeur services on call, as well as scheduled activities, lectures and shopping trips for the community. That community can be very close-knit, having parties together and truly creating a neighborhood feel. This can be a great benefit.

But there is such a thing as too much closeness, and shared walls and common outdoor areas may mean you see too much of your neighbors. If the walls are thin, you may hear fights and be forced to listen to loud television shows or other noises. Also, if you don’t plan to use many of the amenities, you’re still likely to be charged a fee for upkeep on areas you rarely use.

For more great information go to How to Get a Home Inspection.

Allow me to help you find the home of your dreams Contact Eddie Perez at (201) 344-2886, www.investhoboken.com.

Condo Decorating Tips

July 6, 2009

Assess the layout of the condo. If any remodeling is in your budget, IMG_0492acontact an architect or contractor to have your space assessed. Even knocking out a wall can make a huge difference in the space and flow of a condo.

Limit clutter when arranging furniture. Pick a limited number of pieces for each room in your condo, and choose sizes that complement the rooms. A large sectional may not be ideal if it overwhelms your living room. Likewise, a king-size bed may not fit in a smaller bedroom. Get rid of any pieces that are unnecessary in your home.

Pick lighter, more neutral colors for walls and flooring if your condo is fairly small. A coordinating color palette that transitions from room-to-room will open up the space, rather than making it feel choppy. Lighter colors will also visually maximize your space.

Incorporate storage ideas wherever possible in your floor plan. Use stacked crates, shelving and bookcases as decorative visual elements that also serve as a place to keep your things. Storage ottomans and coffee tables are other pieces of furniture to consider.

Don’t be afraid of color. Color can be an expressive way to add depth and dimension to space, especially smaller spaces offered by some condos. Though you may want to keep the walls and floors neutral, remember that a coat of paint to a piece of furniture can makeover its entire image, and items such as furniture, rugs, artwork, pillows and other accessories can pack the punch of color you’re looking for.

For more decorating tips go to How to Make the Space in Your Condo Feel Larger or  Inexpensive Ways to Increase Your Condo’s Value. Allow me to help you find the home of your dreams Contact Eddie Perez at (201) 344-2886, www.investhoboken.com.

ADVANTAGES OF CONDO OWNERSHIP

October 6, 2008

In this day of high real estate value and low interest rates, the ownership of a condo has become one of the best property purchases. This has caused developers to offer more and has created excellent value for owners and those considering the purchase of a unit.

When considering the purchase of a condo here are some advantages to think about.

Condos typically have a lower price than single family homes. There are of course exceptions to this rule. Condos are usually priced approximately 20-30% lower than comparable single family dwellings. This competitive pricing range has opened up the real estate market to many who were previously priced out of the new home market. Condos also offer a great selection of lifestyle choices that are financially difficult to achieve in a typical home.

Location is another of the attractive assets of condos. Most developments are in places that are highly sought-after, located in urban areas. This fact has made condominiums the smart choice for commuters and city dwellers.

There is a great sense of security that comes with owning a condo. Not only is there the aspect of community and neighbors close by, but there are financial securities as well. With condos being valued as they are, the purchase of a unit is a sound financial decision.

Consider “The Oz” located at 70 Adams St in downtown Hoboken, NJ is only minutes from the PATH, ferry and train. This 54 unit concrete and steel structure was built by Metro Home LLC in 2003.

Open layouts with beautifully designed kitchens and bathrooms make this building one of Hoboken’s premier residences. All the units feature hardwood floors, crown and chair rail molding.

 This luxury building has a full gym, and on-site parking.

 

 

 

Let me be your tour guide.  You may contact me at (201) 344-2886 or (201) 222-7550