Bike Hoboken

Calling all Hoboken Bikers! Spring is here and it is time to get your bike ready for the upcoming warm weather. If you haven’t heard already, there is a great citizen-based advocacy organization called Bike Hoboken, that was developed to make Hoboken streets safer for bikers. Bike Hoboken will be holding its first formal meeting on Wednesday, February 23, at 8 p.m. at Carpe Diem located at 14th and Grand Streets.

At the top of the agenda of the meeting will be the group’s list of goals and recent accomplishments for 2011. Topics will include, the subject of more bike racks and riding lanes as well as more group rides.

The group is also hoping to recruit new members to give a hand with carrying out the group’s goals.

According to Josh Meyers, a group member, states, “Although Hoboken is a small town, the task of turning it into one of the most bike-friendly towns in America is no small endeavor.”

For help with understanding the mortgage market, 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.

Why It’s Always Better to use a REALTOR

With Spring right around the corner you may be interested in putting your home up for sale. Have you ever heard that Realtors are overpriced, or you can sell your house on your own and save the money? There are facts and figures stating that the above statements are truly a myth.

More than 80 percent of homes that first hit the market as a Sale By Owner (FSBO) eventually end up being sold by  a Realtor.  Think about the money that is wasted by trying to sell your home on your own. You need to consider the costs of advertising, signs, flyers, etc. If you do get lucky enough to sell your home without a realtor it is very likely that the buyer will come represented by a Realtor who will need to be compensated by you as the seller.

Don’t forget that buyers of FSBO properties will expect to receive a lower price for your home since you aren’t paying Realtor fees. There have been several studies stating that FSBO properties sell for 10 to 20 percent less than homes sold by a Realtor.

Also, keep in mind of the time you will spend trying to find a buyer for your home and get the deal closed.

For help in getting pre-qualified, as well as finding and closing on your perfect Hoboken home, 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.

It’s Time To Pack

Following are organization tips to make the process of packing as efficient as possible:

If you create a system of organization for tracking your belongings it will make your unpacking time much easier. Label each box with a number and put together a list itemizing what is in each labeled box.

Make an attempt of get rid of any unneeded items prior to moving day. Also, try to keep items from one room together. When you start unpacking in your new home your goal will be to empty the boxes as quickly as possible so you will not have to be moving boxes from room to room. It’s a good idea to keep items that you may need immediately in a duffle bag since it will be easy to find among all of the boxes.

At the very start of packing you should have more boxes available than you feel you will need. If boxes are purchased from a moving company, you can always return unused boxes for a refund. Keep a surplus of ten boxes for last minute items.

To prevent fragile items from breaking, it’s a good idea to limit the amount of empty space in a box by wrapping newspaper paper around each item and use crumpled paper in the spaces in between.

For help in finding and closing on your perfect Hoboken home, 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.

 

 

What Does it Really Mean?

When you are buying or selling a Hoboken home you may hear some unfamiliar terminology.

To make things easier, here are several terms you should know:

Closing costs. This is a term that refers to any expense related to a real estate transaction. Generally, closing costs may include mortgage fees, attorney’s fees, transfer taxes, flood certification fees, title insurance and more.

CMA. A “comparative market analysis (CMA) is a list of comparable homes that are similar in location, size, features and condition to a particular home.

Fixture. A “fixture” describes anything that is attached to a property. A good example would be any light fixtures or wall to wall carpeting would qualify.

Listing. When a home has been listed as for sale by a realtor would be called a listing.

Realtor. A Realtor is a person is licensed as a real estate broker or salesperson and is a member of the National Association of Realtors.

Title. Title can be simply stated as ownership and to “to take title” would be to take ownership.

For more great reasons to buy a Hoboken home in 2010, please take a moment to read The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life-changing event. With low mortgage rates now available, this is the opportunity you have been waiting for. Make 2010 the year you purchase your dream home.

For more information 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.

April 2010 Hoboken condo sales statistics

By Eddie Perez, Broker – REALTOR 

Here are the final Hoboken condominium sales figures for April 2010 compiled using the Hudson County Multiple Listing Service.

No fooling around this April as Hoboken’s overall condo market showed positive results in all sales categories compared with those of April of 2009. Total property sales, contracts signed, total dollar volume and both median and average sales prices increased on a year-over-year basis.  

The largest gain was in total contracts signed with a 105% increase. Sparking these gains were buyers seeking to take advantage of the pending expiration of the federal home buyers tax credit, continued low mortgage interest rates, temperate weather and overall confidence in the local real estate market.  

Another impressive gain was seen in the total closed condos with an 80% improvement (72 units in April ’10  vs 40 units in April ’09). Sprinkling even more good news onto the Hoboken condo market were increases in both the average and median selling price points.  

Average condo prices rose 12.3% to $504,138 from $448,752 a year earlier while median prices showed strength rising 10.2% to $465,752 vs $422,500 in April of ’09.

So far in the early stages in the month of May, I’m seeing a bit of a slowdown from the brisk pace we had heading into the end of April however still good activity in contracts signed.  I’ll recap at the end of May to see how this trend holds up.

Here are April 2010 vs 2009 comparisons:

	April 2009	April 2010	Comparison:
Units Sold:	40	72	+ 80%
Avg. Price:	$448,752	$504,138	+12.3%
Median Price:	$422,500	$465,752	+10.2
Pending contracts:	55	113	+ 105%

April 2010 Sold Condominiums:

	High	Low	Average	Median	Total Price	Listing Count
LIST PRICE:	$1,188,888	$234,90	$524,74	$478,000	$37,781,280	72
SOLD PRICE:	$1,130,0000	$222,000	$504,138	$465,752	$36,297,955
DOM:	731	16	83	46

Overall Hoboken condo market list to sales price differential

Average list price: $524,740

Average sold price: $504,138

Differential: – 3.9% of asking price

Studio: none sold

1 bedroom: 21 sold.

Average asking price: $375,097

Average selling price: $360,226 (-3.6% of asking price)

Average days on market: 60

2 bedroom: 45 sold

Average asking price: $550,692

Average selling price: $529,571 (-3.6% of asking price)

Average days on market: 94

3 bedroom: 3 sold

Average asking price: $732,056

Average selling price: $690,000 (-5.2% of asking price)

Average days on market: 92

4 bedroom:  3 sold

Avg asking price: $975,629

Selling price: $944,166 (-5.56% of asking price)

Days on market: 82

April 2010 – Pending Contracts.  These are the deals that were consummated during the month and represents the current buying activity.

Pending Condos: 113

	High	Low	Average	Median	Total Price	Listing Count
LIST PRICE:	$2,300,000	$220,000	$488,744	$444,000	$55,228,121	113
SOLD PRICE:	pending	pending	pending	pending	pending
DOM:	311	12	75	50

Studio:  3 contracts

Average asking price: $284,633

Average days on market: 115

1 bedroom:  44 contracts

Average asking price: $364,233

Average days on market: 71

2 bedroom:   57 contracts

Average asking price: $526,792

Average days on market: 73

3 bedroom:  8 contracts

Average asking price: $927,725

Average days on market: 91

4 bedroom:   1 contract

233 Madison St #2, a 1950 square foot 4 bedroom, 3 bathroom condo with tandem parking that could fit 3 cars, a deck and a yard.  This was on the market for 49 days until it had a firm accepted offer.

Edward (Eddie) Perez

How to Find the Best Realtor

Whether you are looking to buy or sell a home people will choose a Realtor for many different reasons. At the top of the list of reasons is chemistry, years of experience, business ideas, the type of services offered, commission and if they are a good negotiator.

The sale of a home can be a very complicated deal with many factors involved. Many of these factors are subject to negotiation. To be a good negotiator you must be very skilled to make a difference at closing the deal.

Following is a list of a few things you should consider before hiring a realtor:

• When you are interviewing a Realtor do not hesitate to ask about their negotiating skills.

• Be sure to call the references of the Realtor’s former buyers and sellers to get a good assessment of the Realtor’s skills.

• Once you choose a Realtor, watch how he or she negotiates the listing agreement to help determine the Realtor’s skill level

• A good question to ask a Realtor is to describe a situation in which he or she was a good negotiator.

For more great ideas for your home, please go to The best furniture picks.

Currently, there are many great opportunities to purchase a home in Hoboken. Perhaps you are considering buying your very first home, or you may be at the point in your life that you are searching for your ultimate dream home. If either may be the case or if it is something in between, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

Spacious Condo with Gorgeous Park Like Setting

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!!

Do Not Delay Your Home Purchase

If you are a potential homebuyer do not delay your pending home purchase. If you wait too long you may lose out on a great opportunity.

The expiration date for the first-time homebuyer and move-up tax credits worth $8,000 and $6,500, is approaching quickly. You only have until April 30 to take advantage of this great opportunity. If you qualify you will get a dollar-for-dollar reduction in taxes or a cash payment if you do not pay enough taxes to cover the credit.

For more great reasons to by a home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it while the home buyer’s tax credit is still in effect. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available, along with the recent passing of the new tax credits, this is the opportunity you have been waiting for. Please click on tax credit information for more details.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can be reached at eddie@InvestHoboken.com or 201-344-2886.

Hoboken Condo Price Gains Crush The S & P 500 Stock Index for the Past Decade

Average Hoboken condominium price gains annihilated the S & P 500 stock index in the first decade of the millennium.

While the average Hoboken condominium prices rose an impressive 154% in the decade, the S & P 500

stock market index posted an average decrease of 0.9 percent a year since 1999 including dividends,

the first negative return for a decade since data began in 1927, according to S&P analyst Howard Silverblatt.

Hoboken condos sold at an average price of $197,175 for the year ending 1999 vs $501,337 at the end of 2009.

I don’t think anyone was able to live in the S & P 500 index either!

 Edward (Eddie) Perez

December 2009 Hoboken Condo Sales Statistics

Here are the final sales figures for December 2009 compiled using the Hudson County Multiple Listing Service.

Sales volume for Hoboken condominiums were way up but average and median prices were both down, according to year over year data for the month of December.

The number of closed sales exploded 127%. There were 66 closed units in December ’09 vs. 29 units same month in ’08. While an impressive gain, these numbers are going up against extremely weak sales figures from last years financial market meltdown.

The average sale price was $495,089 in December 2009, down 7.3% from $534,183 in December 2008. Median December year of year sales prices were essentially flat, $479,000 in ’09 versus $480,000 in ’08.

Another bright spot was a 34.4% increase in contracts signed, 42 condominiums went into contract in December 2009 compared with 31 in December 2008.

There seems to be pent up demand from the large numbers of potential buyers that were on the sidelines earlier in the year. The buyers I’ve been directly dealing with seem to have more confidence with their employment and a more positive outlook for the local economy. As prices have fallen 13-17% at many buildings from their respective highs, a consensus seems to be forming that these prices may be stabilizing in the near future.

Who knows for sure…..right? This quote seems to to sum this up:

“Let’s say it clearly: No one knows where the market is going-experts or novices, soothsayers or astrologers. That’s the simple truth.” — Fortune

Here are the comparisons:

	September 2008	September 2009	Comparison:
Units Sold:	29	66	+ 127.6%
Avg. Price:	$534,183	$495,089	– 7.3%
Median Price:	$480,000	$479,000	flat
Pending contracts:	31	42	+ 34.4%

December 2009 Sold Condominiums:

	High	Low	Average	Median	Total Price	Listing Count
LIST PRICE:	$1,305,000	$273,000	$514,897	$486,950	$33,983,202	66
SOLD PRICE:	$1,200,000	$250,000	$495,089	$479,000	$32,675,900
DOM:	578	16	89	56

Studio: none sold

1 bedroom: 25 sold.

Average asking price: $373,969

Average selling price: $360,532 (-3.6% of asking price)

Average days on market: 69

2 bedroom: 33 sold

Average asking price: $540,483

Average selling price: $521,030 (-3.6% of asking price)

Average days on market: 102

3 bedroom: 9 sold

Average asking price: $741,072

Average selling price: $702,333 (-5.2% of asking price)

Average days on market: 145

4 bedroom: 1 sold

Asking price: $899,000

Selling price: $849,000 (-5.56% of asking price)

Days on market: 123

December 2009 – Pending Contracts. These are the deals that were consummated during the month and represents the current buying activity.

Pending Condos: 42

	High	Low	Average	Median	Total Price	Listing Count
LIST PRICE:	$1,272,995	$259,000	$592,685	$532,499	$24,892,791	42
SOLD PRICE:	pending	pending	pending	pending	pending
DOM:	492	20	108	91

Studio: No contracts

1 bedroom: 22 contracts

Average asking price: $370,664

Average days on market: 86

2 bedroom: 23 contracts

Average asking price: $561,561

Average days on market: 119

3 bedroom: 4 contracts

Average asking price: $1,075,556

Average days on market: 113

4 bedroom: No 4 bedroom contracts

 

Edward (Eddie) Perez