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 Don't you hate it when people cut in line? Not only is it very annoying, it makes you have to wait longer to take care of your business or to get to where you're going next. Hoboken homes for sale are in a competitive line, with the home offering the best value in its category selling first. A price to value position, so to speak.
In theory, a home further back in the line (third or fourth position) would eventually sell once the better-valued homes (first and second place) have sold. Unfortunately, this is not the case. New listings are continuously entering the market and cutting in line. This causes the inferiorly priced homes (third or fourth place) to stay behind in line, never actually selling --unless they improve their price to value position.
Therefore, in order to price a home so that it will sell, it's very important to consider your position relative to other homes on the market. I call it strategic pricing.
Want to know how to get out of line in a reasonable amount of time? Shoot me an email or just call.
Happy Selling :)
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top-producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201-344-2886.
 Okay, folks. I know it’s the middle of winter, and it’s been a mild one so far (fingers crossed!). But if you are buying or selling a Hoboken property, you really do need to start getting ready for spring. Use these next few weeks wisely, and you’ll save yourself headaches when the time comes to put your place on the market. This week we’ll concentrate on a few seller strategies for getting your condo ready. Next week we’ll talk to buyers.
Sellers:
Don’t wait till the last minute to de-clutter; do those little repairs and start the deep cleaning. You never know when people will start looking at properties! And if you read the Buyer section next week, you’ll understand.
First off, go out and rent a unit at the nearest self-storage facility, and start going through the house (and garage if you’re lucky enough to have one!) one room at a time. I promise you’ll be glad you did. You’re going to have to go through stuff before you move anyway, right? Why not start now when you can take your time about it. Buyers have a lot easier time imagining their stuff in the condo if they don’t have all your stuff to visualize through! Your rooms will look larger with less stuff in them anyway.
You know those bothersome little household repairs on your “Honey Do” list? Now is the time to get on them. You’re stuck inside for the next two months anyway. Put the time to good use. While those little imperfections irritate you, they’ll have buyers seeing potential repair dollar signs … and wondering what else needs to be taken care of that they aren’t seeing. Like the commercial says, “Just do it!” Remember, everything you can see and don’t repair is potentially a negotiating point for buyers looking to get you to lower your price.
Don’t forget the exterior! Start speaking with your condo association about any common area repairs or upgrades that may be needed as it could take a few months to get board approval and get the work completed. Remember the importance of those first impressions! Take a look at your buildings front façade and landscaping. Could it use new plantings, paint or brick re-pointing? Updates to these can add value to everyone’s homes and make it a more enjoyable place to live.
Take a look at your building's hallways, mailbox, laundry and storage areas. What can be done to give the best impression to potential buyers? Sometimes simply enforcing the current building rules and regulations, such as limiting items left in hallways, can help with how your building will show.
Now let’s talk about your roommates. Not the buddies from college but the furry ones we call pets. You may not smell them, but if you have carpets, upholstered furniture and even one little dog … or a litter box and one little kitten … newcomers to the house will smell them. And if the buyer has pet allergies, watch out! No amount of sprays or powders will cover the smell. If you are serious about selling, you need to have the carpets, drapes and upholstered furniture steam cleaned. Try to decide on an area (preferably uncarpeted) that the pets can be restricted to, and determine what to do with them when the house is going to be shown. Doggy day care? Pet carrier? Mom's house? If possible, have the pets removed from the condo during showings.
These are just a few suggestions to keep in mind and to get started on now so that you’ll be able to hit the ground running when your place goes onto the market!
Next week, buyer suggestions!
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201-344-2886.
 A case could be made that this could begin to lead to price increases in the near future.
Additionally, recent news on the economy has been getting better lately and you know what this could lead to....... interest rates might start to go up!!
Hoboken is experiencing extremely low inventory of available condominiums. As of today, there are only a total of 215 units available for sale.
Six months ago, there were nearly 400 condos on the market!
If the current demand picks up just slightly, it just might ignite the lackluster activity of the past 3 months where we've averaged approximately 32 contracts per month.
Why wait? Let me know if you would like to start the home search in earnest.
Here are just a few of the headlines TODAY. I wanted to share this with you today as the LARGEST cost of home ownership is the interest. Remember the old adage, "you don't live in the purchase price, you live in the monthly payment" (i.e. interest rate).
Jobless Claims, Factory Data Suggest Recovery Picking Up
http://www.cnbc.com/id/45681589
Stocks Gain as Economy Shows Some Strength
http://www.cnbc.com/id/45680479
Have a great day!
Eddie
As snow and ice sneak up on us, those living in downtown condos have a great advantage. You have the peace and quiet of your personal oasis. At the same time, you have easy, quick access to everything you could need … and you don’t need a personal vehicle to get to any of it! How great is that?!
One of the great things about living in a Hoboken downtown condo is the access you have to an incredibly wide variety of activities, restaurants and clubs. This being winter, I’ve selected two very different recreational outlets to tell you about that may surprise you.
First off, would you believe a ski club in the inner city?! The Hoboken Ski Club meets every Tuesday night at 8:30pm in the Back Room at Willie McBride's Pub at 616 Grand St.,
Hoboken, NJ 07030. Their club motto is “Think snow!” and they say that’s what they do … all the time. Their foundation is built around snow sports and the winter, but the club is active all year round.
It's not just about Hoboken, and it's not just about skiing. The majority of their members are in their 20's & 30's. But they have no age limits, other than that you do have to be 21 to join. Whether you're a skier, snowboarder, or just like social activities, this club has something for you!
Not everyone is quite so athletically inclined, and that’s fine. Stroll on over to Symposia Community Bookstore and see what tweaks your interest. They’re located at 510 Washington Street.
For starters, they are the only used bookstore in Hoboken. But they aren’t “just” a used book store. They are actually more along the lines of a community center. In fact, Symposia is actually a Public Benefit nonprofit corporation that was organized, and is operated, exclusively for educational and charitable purposes. They operate a book thrift shop and offer their shop locations to be used as a community center.
What exactly does that mean? Well, you can buy books at discounted prices. You can donate books, DVDs, CDs, tapes and office equipment rather than chucking them in the dumpster and wasting them.
According to their website, their specific objectives and purposes are:
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to help make books and reading as inviting and accessible to as broad an audience as possible;
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to offer a venue to serve as a community center and a place for educational and community activities;
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to support other charities through the use of the thrift store’s space to raise funds and run programs;
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to offer support for emerging local artists through exhibitions and other projects;
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to develop new community projects;
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to engage in other activities related to the development of the social capital of our community.
It is definitely a place where you will always be able to find something interesting going on! Stop by and visit for awhile!
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.
That title may seem a little silly, but the way shoppers evaluate a prospective home never ceases to amaze me. There is nothing wrong with having a vision of your ideal home. In fact, having such a vision is a necessity. You need to know what kind of home you will be happy in. A workaholic with no family and a busy life would probably do best to buy a condominium with amenities like a building concierge that can receive packages and let the cable guy in, a pool or health club onsite to get daily exercise and an easy commute to work. This may make more sense than purchasing a large Hoboken –area home with a yard in the suburbs.
In fact, if you are not sure what you want, you should probably make what a friend of mine calls a “Ben Franklin List”. Benjamin Franklin, whom I think we’d all agree is no slouch, came up with a really useful decision-making tool. Basically, you divide a sheet of paper into relevant columns. In this case it could be “Wants, Needs and Undesirables”. Now you populate those columns with your choices. Maybe you want an open concept floor-plan and some type of outdoor space. What you need might be parking, elevator or three bedrooms. Undesirables might be location too far from NYC transportation or 4th floor walk-up buildings. You get the idea.
Be realistic when it comes to choosing whether something falls into the “Wants” or “Needs” column. Stainless steel appliances are all the rage, but I’d call them a “want”. What you need is working, reliable appliances. Changing them out for stainless steel is something you can do down the line. If the current appliances are ancient (more than 10 years old) and/or non-functioning, the cost of replacing them is a negotiating point when it comes time to make an offer, isn’t it? In order to move in and be comfortable, functionality should trump esthetics.
Face it. Unless you have a home custom-built and decorated to your specifications, the odds of finding an absolutely perfect property are not likely. Once upon a time the property you are looking at was the embodiment of someone else’s dream. It has been personalized through their occupation and decorations. You can make it yours, but before you can do that, you have to be able to see the property’s potential to fulfill your vision.
Look past paint color. Look past light fixtures, drawer and door pulls, curtains, carpets, plants used to landscape the yard or balcony. All of these are easily changeable, customizable to fulfill your vision. What are not changeable are location and the basic bones. As long as those are good, you should consider the property. Buy it and make it your own.
I recently sold a single-family row house on Bloomfield Street that had the location and “good bones” but was in need of renovations. The eventual buyers saw the home's fantastic potential and their opportunity to customize it to their liking. They are now well on their way to having the customized home that they envisioned and within the budget that they set.
The Ben Franklin list proved to work great for them! Give it a try, and see if you too will soon be on your way to having YOUR perfect home!
Happy shopping!
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top-producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886 .
Can you purchase a nice 2 bedroom condo minutes from Manhattan for around $1000 per month? Yes you can!
For about $1000 a month you can buy a really fantastic 2 bedroom, 1 1/2 bath duplex condo in Jersey City. Just a 30 min NJ Transit bus ride into Midtown Manhattan and even shorter into Hoboken. Oh, did I tell you that you have a private deck and direct access to a large common yard. It's also right across the street from a large park with tennis courts, swimming pool, play grounds, ball fields and more.
This is less than it would cost to rent a similar home AND does not take into account any potential tax savings from property tax and mortgage interest deductions.
Is now a good time to buy? You tell me.......
The asking price is just $139,000.
The $1000 per month is based upon a 20% down payment and 30 year fixed rate at 4.25% (rates as of 11/21/2011) Rates subject to change and individuals must qualify. Could be slightly more or less depending upon your individual circumstances. Speak to a tax professional regarding any tax savings that may apply to you.
Hello Jersey City, I'm Hoboken. Nice to meet you!
This is a great photo showing where Hoboken and Downtown Jersey City border each other. Photo is taken from the Hudson Tea Building with 13th & Washington St., Hoboken in the foreground.
It's also a good perspective showing Hoboken with its abundant lower-rise buildings, many of which date back to the late 1800's, and the Newport section of downtown Jersey City with its newer high-rise buildings.
Both are very nice places to live. Lots of really great condos with easy access to NYC.
Do you remember when this skyline was totally different?
Which do you prefer?
Eddie
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.
Hoboken condo sales statistics..Sales prices are up how much?
By Eddie Perez, Broker - REALTOR
I know most people feel that the Hoboken condo market is down, especially the "buyers" out there. Surprise...prices went up when compared to last year.
When compiling the final sales figures for October 2011 using the Hudson County Multiple Listing Service, the central theme I noticed was.....
Fewer condos are selling but they are selling for quite a bit more!
In the Hoboken condo market, closed sales prices showed big increases in October when compared to the October 2010 stats. Average prices rose 7.73 % ($473,393 vs $436,776) and median prices were up 7.11%, ($436,000 vs $405,000). Who knew?
Ok, it's not all rosy data...
Total units sold were down by 30% (43 units in 2011 vs 56 units in 2010). Total contracts signed were also down as there were 54 contracts signed in October 2011, a 24% decline from the 67 contracts signed in October 2010.
What does this all mean?
The market is not as bad as most think, prices are holding steady and may have gone up for some category of homes, buildings and prime locations in Hoboken.
Now all we need to do is sell a few more condos..... which by the way, I'd be more than happy to help :)
Here are the sales statistics.....
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October 2010 |
October 2011 |
Comparison: |
| Units Sold: |
56 |
43 |
- 30% |
| Avg. Price: |
$436,776 |
$473,393 |
+ 7.73% |
| Median Price: |
$405,000 |
$436,000 |
+ 7.11% |
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Contracts Signed
(pending to close):
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67 |
54 |
- 24% |
October 2011 Sold Condominiums:
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High |
Low |
Average |
Median |
Total Dollar amount |
Listing Count |
| List Price: |
$1,275,000 |
$269,000 |
$486,355 |
$449,000 |
$20,913,294 |
43 |
| Sold Price: |
$1,215,000 |
$250,000 |
$473,393 |
$436,000 |
$20,355,900 |
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| Days on market |
201 |
14 |
67 |
49 |
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Studio: none sold
1 bedroom: 13 sold.
Average asking price: $372,861
Average selling price: $359,973 (-3.45% of asking price)
Average / Median days on market: 61 / 49
2 bedroom: 27 sold
Average asking price: $523,633
Average selling price: $510,175 (-2.57% of asking price)
Average / Median days on market: 70 / 50
3+ bedroom: 3 sold
Average asking price: $642,666
Average selling price: $633,833 (-1.3% of asking price)
Average / Median days on market: 58 / 40
October 2011 - Contracts signed. These are the deals that were consummated during the month and represent the current buying activity.
Total Contracts: 54
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High |
Low |
Average |
Median |
Total dollar amount |
Listing Count |
| List Price: |
$1,499,999 |
$198,500 |
$563,895 |
$488,000 |
$30,450,341 |
54 |
| Sold Price: |
pending |
pending |
pending |
pending |
pending |
|
| Days on market |
199 |
8 |
62 |
40 |
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Here's the breakdown:
Studio: 0
1 bedroom: 15 contracts
Average asking price: $360,619
Median price: $339,000
Average days on market: 72
Median days on market: 33
2 bedroom: 33 contracts
Average asking price: $599,986
Median price: $505,000
Average days on market: 56
Median days on market: 42
3+ bedroom: 6 contracts
Average asking price: $873,583
Median price: $751,750
Average days on market: 67
Median days on market: 79
I hope you find this info useful. As always, don't hesitate to contact me with any specific questions.
Eddie
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886
RE/MAX Gold Coast Realty 3rd Annual Turkey Dinner Drive
Help us put the "give" in Thanksgiving and assist 75 families in need with complete Thanksgiving Dinners!
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I hope you've been enjoying the Fall so far, and as we head into Winter and the busy holiday season, I want to bring to your attention to RE/MAX Gold Coast Realty's Annual Turkey Dinner Drive.
Last year RE/MAX Gold Coast Realty provided meals for 54 local area families in need. This would have been impossible without the assistance of our awesome client and business community.
This year RE/MAX is stepping it up! Help us feed 75 families in need. We arrange all the fixings from the turkey to the trimmings, spices to the stuffing and the potatoes to the pie. I'm reaching out to friends, family colleagues and our community for help. Any donations would be greatly appreciated.
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| RE/MAX Gold Coast Realty Drop Off Hours: |
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56 Newark Street, Hoboken
Monday- Friday 10am-8pm
Sat 10am-5pm
Sunday 10am-5pm
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We also will pick up your donation! PICK UP DATES:
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Saturday 11/20 10am-12noon.
Monday 11/21 6-8pm
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WE CAN SHOP FOR YOU!
$$$ DONATIONS ACCEPTED |
| Too busy to shop but still want to help? We'll shop for you. $50 will feed a hearty Thanksgiving Dinner for an entire family! We accept checks and cash! |
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It's simple. We provide the attached shopping list so you can shop and drop at our office or call us for a pick up 201-795-0100.
Whether you contribute one or two items or the whole check list, any donation you can make will be greatly appreciated!
Many, many thanks for your consideration and I wish you and your family a Happy Thanksgiving - may your belly be as full as those we plan to feed this year!
Gobble, gobble,
RE/MAX Gold Coast Realty
201-795-0100
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| RE/MAX is grateful to the following restaurants for offering freezer space during our Turkey Drive. |
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Turkey Drop Off Locations
(Frozen Turkeys only please!)
Lucky's Famous Burgers
79 Hudson St, Hoboken
Grimaldi's Coal Brick - Oven Pizzeria
411 Washington St, Hoboken
Biggie's Restaurant Raw Bar Tavern
318 Madison St, Hoboken
Pilsener Haus Biergarten
1422 Grand St, Hoboken
Clam Broth House
36-42 Newark St, Hoboken
The Clinton Social
700 Clinton St, Hoboken
Drop Off November 14 -21
During regular business hours
Please label turkey
"RE/MAX Turkey Drive!
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Here's Turkey Dinner Drive Shopping List
- Turkeys (10 - 15lbs)
- Stuffing (14 oz)
- Boxed Mashed Potatoes
(15.30 oz.) Canned Whole Potatoes
- Canned Veggies: French Cut Green Beans, Peas, Carrots, Corn (29 oz.)
- Canned,cut yams (40 oz.)
- Chicken Broth (48 oz)
- Cranberry Sauce (16 oz)
- Gravy Mix (1.2 oz) or Jarred Gravy (16 oz)
- Mushroom Soup (10 oz.)
- Canned French Fried Onions(1 can)
- Spices: Thyme, pepper, rosemary, parsley
- Oval roaster pans (large)
- Martinelli's Sparkling Cider
- Entenmann's Apple or Pumpkin pies (please check dates on these)
-Fresh Vegetables & Pies accepted 11/19-11/21 only
- $50 donation feeds a family. Let us shop for you!
I'm personally thankful to work with such great colleagues and friends and in such a fantastic community!
Thank you all!
Eddie
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I'm often asked.... “Eddie, with the holidays quickly approaching, should I wait until January to put my Hoboken cond
The short answer is Maybe... 
To help answer the question properly, I typically assess your goals and timing. I then perform a "Real Estate Timing Analysis" and a "Financial Risk Analysis". Both of these are important tools we use to help identify what may be best for you. Better yet, they can often help save you a lot of money.
On a purely strategic aspect, here are my thoughts on why not waiting may be a good decision for you:
1. While there may be fewer buyers out there, people who look for a home during the holidays are serious… they are ready to buy!
2. There are fewer homes for buyers to look at during the holidays, which means less competition for you… less competition equals more money!
3. After the holidays the supply of listings increases substantially, which lowers the demand for your home… more competition equals less money!
4. Your home shows better when decorated for the holidays!
5. Many buyers have more time to look for property during the holidays (as opposed to a normal work week).
6. We will restrict the showings on your home to the times you want it shown. You remain in control.
7. You can sell now for more money and not have to physically move until January or February…as opposed to just starting the whole process at that time.
I hope this helps shed some light on the subject. I'm always around to discuss your individual needs!
Eddie
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.
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Eddie Perez - Hoboken Metro Living
Hoboken,
NJ
More about me…
Re/Max Gold Coast Realty
Address: 56 Newark St, Hoboken, NJ, 07030
Office Phone: (201) 795-0100
Cell Phone: (201) 344-2886
Email Me
Market news,stats, new listings, price reductions and lots of other useful info about condos and other real estate in Hoboken, NJ.
If you enjoy what you are reading, remember to subscribe to my blog. It is my focus to provide relevant greater Hoboken real estate market information on real world level. No media hype. No fluff. Just a real voice based on an active Hoboken REALTOR (R).
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