An "informed but informal" place to find real estate information

more buildings in 2006

Published Dec 31, 2005 by Judy Marciano.




They keep building, people keep buying....





One of the many good reasons to purchase property in Hudson County is the commute.
I worked and commuted to NYC for almost twenty years before I became a realtor. So I am very empathetic to a clients commuting preferances. At one point I moved to the suburbs but I moved back w/i the same year I moved out. If you work in NYC and want more time living and less time commuting, its great to be in Hudson County. Yes, you pay more for property but you pay less for your commute, you have more commuting options and a much shorter commute and you are close enough to NYC to take advantage of all this wonderful city has to offer w/o paying the even higher property prices to live in NYC.
In Hoboken you can take a ferry - either from uptown or downtown, you can take the Path train, you can take the bus to Port Authority - from either Washington Street or Clinton Street, or you can drive or even take a cab. So lets not forget with all this speculation that there will always be advantages to living here and although the pace of the market may change, the demand will continue.










Hudson Tea, Upper Grand














Riva Pointe, Harrison Court







Maxwell Place





http://www.njtransit.com/
http://www.nywaterway.com/
http://www.panynj.gov/path/index.html

2005 sales results and 2006 flipping advise

Published by Judy Marciano.










In follow up to my blog post of yesterday regarding one bedroom sales, please see below for additonal statistics on Hoboken condo sales activity for 2005 and some interesting information on how flipping pre-construction properties have affected the annual average pricing:
2 bedrooms:
active: 166
Average list price: $620,746
Average days on market: 89

under contract: 59
Average list price: $609,898
Average days on market: 64

sold: 400
Average selling price: $480,427*
Average days on market: 75

*this number seems low which could be a result of various factors of which perhaps flipping pre-construction properties is one of the biggest reasons, ie. Upper Grand, Sky Club, etc. People put non-binding reservations on condo's at lower prices in 2004 but they didn't close until 2005. By the time they were completed and closed, the prices in the market have increased considerably but their original purchase price is included in the average selling price for properties that closed in 2005. Some people purchased a condo in Sky Club in the high $300,000 range in 2004, this price was honored even though the market prices increased. These fortunate buyers were able to have a closing on this purchase in 2005 and flip it after closing for prices in the mid $500,000 range.
In some of the newer places, such as Maxwell House (phase 2 release), they are putting clauses in the contracts that do not allow you to flip within the first year.

So, if you are planning on purchasing any pre-construction property in Hudson County to flip in 2006, make sure you read the fine print in your contract to verify that this is allowed without a specified clause restricting the time frame for flipping.

3 bedrooms:
Active: 23
Average listing price: $805,495
Average days on market: 96

Under contract: 8
Average listing price: $818,225
Average days on market: 58

Sold: 69
Average selling price: $661,718
Average days on market: 44

4 bedrooms:
Active: 6
Average listing price: $1,345,291
Average days on market: 108

Under contract: 1
List price: $949,900

Sold: 5
Average selling price: $987,812
Average days on market: 78

Happy New Year!!!!

Information compiled from the Hudson County Multiple Listing Service as of 12.30.05. Information herein deeded reliable but not guaranteed.

2005 - One bedroom sales in Hoboken

Published Dec 30, 2005 by Judy Marciano.

Here is a quick recap of one bedroom condo sales in Hoboken for the year 2005:

Active listings: 92
Average listing price: $422,941
Low: $299,000 *
High: $1,199,000 **
Median: $399,900
Average days on market: 71

*At $299,000 you get approximately 469 square feet.
**At $1,199,000 you get approximately 1850 square feet with 18 feet ceilings, private entry elevator, 1 parking space, terrace, state of the art appliances, etc..

Sold units (actually closed properties): 306
Average selling price: $359,953
Low: $121,000
High: $990,000
Low: $121,000
Median: $354,000
Average days on market: 44

Currently under contract: 34
Average list price: $400,344
Low: $299,900
High: $549,900
Median: $379,799
Average days on market: 40

My new one bedroom listing at 501 9th Street is already getting a good response and its only been on the market for 2 days which is understandable as it definitely has a lot to offier - it's in a reputable building (Metro Homes was the builder ), its approx 756 square feet, built about 3 years ago, 1 indoor deeded parking space is included, elevator building, fitness center in building, w/d in unit, c/a, landscaped common courtyard (equipped with putting green). List price is $455,000, taxes: $4881 maintenance: $195
If you are interested in seeing this property, please contact me at: jmarciano@patinarealty.com










Information compiled from the Hudson County Multiple Listing Service as of 12.30.05. Information herein deeded reliable but not guaranteed.

Todays daily hotsheet

Published Dec 28, 2005 by Judy Marciano.















The Hudson County MLS posts daily information on new listings, expired listings, closed properties, withdrawn properties, price changes, etc..
See below for some postings in Hoboken on todays hotsheet:
6 new listings consisting of the following:
1 single family for $1,475,000
1 investment for $3,250,000
4 condo's from $295,000 to $619,900
There was a price reduction on a unit in the Sky Club (700 1st St.), from $614,900 reduced to $598,000 for a 2 bedroom, 2 bath condo, approx 1,201 square feet.
The above is only a small "highlight" of todays information, there were a lot of other new listings for Hudson County posted today.

Harmon Cove, Secaucus

Published Dec 22, 2005 by Judy Marciano.










Yesterday was about Riva Pointe, so today, I thought I'd choose another complex to discuss to let you know of some other options within Hudson County.

Harmon Cove is a gated complex in Secaucus,which is about 4 miles from New York City. They offer lower property prices, lower taxes and a decent commute to NYC via bus to Port Authority (approx 20 minutes), train to Penn Station (approx 9 minutes) or train to Hoboken of which you can transfer accordingly.

Harmon Cove is next door to the Meadowlands Hospital and across the street from Panasonic offices. You can still get a 3 bedroom for under $600,000 with parking and amenities such as a gatehouse entrance with 24-hour security, pool that serves drinks and food during the summer, tennis courts, recreational clubhouse and almost 4 miles of paved trails in a woodland setting to walk your dog or yourself. The bus to NYC pulls right into the complex at rush hour, making it very easy to start your commute. There is also a bus that pulls into the complex that takes you to the train station, Secaucus Junction (currently there is no parking at the station so you have to take a bus or cab).

On the Hudson County MLS, as of today, I saw 9 active listings available in Harmon Cove. See below for some examples of recent activity here:

For sale:
2 bedroom, 2.5 bath, approx 1450 square feet, listed for $489,922 on 11/22/05, taxes $4380 and monthly maintenance $399.

Under contract:
3 bedroom, 2.5 bath, approx 1861 square feet, listed for $499,000 on 10/4/05, went into contract 12/19/05. (won’t know actual selling price until it closes)

Sold:
3 bedroom, 2.5 bath, approx 1861 square feet, listed for $537,750 on 6/3/05, went into contract on 6/6/05 and closed for $534,300 on 7/11/05.

Some of these places may require work as it is an older complex but even if you have to spend some money to fix it up, you are still getting a lot for your money in a town that is very close to NYC.

Some background:
Hartz Mountain Industries bought a 750-acre tract of barren land in Secaucus in 1969. They named the area Harmon Cove. They started with a distribution park which then led to distribution outlets and moved on to
adding office buildings, hotels, townhouse & high-rise condos and Meadowlands Hospital. And there is still much more to come such as the $1.4 billion Xanadu family entertainment and sports complex, a new football stadium for the Giants, 3 golf courses and plans for more housing.

Anyway, its good to know you have options. And if this isn't the right one for you, there are lots of others.





Riva Pointe, Weehawken

Published Dec 21, 2005 by Judy Marciano.


One of my clients who got tired of searching for property in Hoboken.....(seeing lots of places and having a budget of over one million dollars and not really liking what she saw), decided to venture out to Weehawken. There are different parts of Weehawken, she wanted to try Riva Pointe as it is on the water and very close to Hoboken. One of her requirements is waterfront property with a view. We stopped by their sales office tonight to find out about availability on the last phase of Riva Pointe which is still under construction. Unfortunately they do not cooperate with other brokers. But it looked very interesting so we wanted to look into it anyway. We have an appointment tomorrow to see some of the models and learn more about it.
I went home and checked the Hudson County MLS to see if there were any re-sale listings available with offices that do cooperate with other brokers. This is what I found:

From 1/1/05 to present:
5 sold
The range of places sold goes from a one bedroom at 900 square feet for $535,000 (originally listed at $569,900) to a 3 bedroom at 2300 square feet for $1,550,000 (originally listed at $1,650,000).

3 actively listed
1 br, 1.5 bath, approx 873 sq ft listed on 9/10/05 for $575,000
2 br, 2.5 bath, approx 1421 sq ft listed on 9/22 for $880,000
2 br, 2.5 bath, approx 1421 sq ft listed on 10/16/05 for $880,000

1 under contract (they don't disclose actual sold price until it closes)
2 br, 2.5 bath, approx 1365 sq ft listed on 7/25/05 for $820,000, went into contract 11/17/05

Waterfront property is so desirable and limited in supply. It will be interesting to see what they have to offer tomorrow.

Pay it back

Published Dec 20, 2005 by Judy Marciano.













A big "Shout Out" to the staff of the Hoboken Boys & Girls Club. They are amazing.
Tonight, I was a volunteer photographer at their annual Christmas party for the children. My job was to take pictures of each of the children with Santa. That was a very small task in comparison to what this staff does on a daily basis. I watched how they interacted with each child and saw how much they cared about making this party special for all of them.
The Boys & Girls Club of Hoboken is a non-profit organization providing after school activities for children of all school ages. The club relies on funding from the state, it's parent organization and the generosity of others in our community. You can help too by going to www.amazon.com. Go to wish list and click on "View a Customer's Wish List". Enter HobokenBGClub@hotmail.com. View the wish list of books, select a book and ship it to the Boys & Girls Club.

Lets talk about Union City, NJ

Published Dec 19, 2005 by Judy Marciano.










Union City was incorporated in 1925 and was a result of the merger of West Hoboken and Union Hill. People of all different backgrounds live in this city of 1.4 square miles. But in the 1960's, Union City became home to many Cuban refugees fleeing the communist dictatorship in their native island. The proximity to NYC was probably one of the main reasons for the choice of this location.
Union City does not have waterfront property on the Hudson River but it does have spectacular views of the river and the NYC skyline from some vantage points.
Union City is bordered on the south by Jersey City, on the north by West New York and North Bergen, on the west by North Bergen, and on the east by Weekhawken.
There are 2 well known co-op buildings in Union City that offer unobstructed views of NYC in many of the units. They are The Doric located at 100 Manhattan Avenue and Troy Towers located at 380 Mountain Road. Prices are lower in these buildings but maintenance is higher as it is a co-op, not condo. (Hudson County mainly offers condo's not co-ops). I did a quick search today on the Hudson County MLS to check availability in both of these buildings. There are 8 one bedrooms currently as active anywhere from $255,000 to $385,000, approx. square feet ranges from 625 to 1025. There were 7 two bedrooms currently listed with prices of $335,000 to $539,900, square feet ranges from 1043 to 1500.

There has also been a lot of mention of Union City in the press lately, an article in this Sundays, New York Times
http://www.nytimes.com/2005/12/18/nyregion/nyregionspecial2/18njAVENUE.html and last weeks New York Post http://www.nypost.com/realestate/59281.htm


view from Troy Towers

sometimes its a sellers market, sometimes a buyers market

Published Dec 17, 2005 by Judy Marciano.

sometimes it is a balanced market, and at other times...it is a changing market.

I am doing a search for a 2 bedroom in Hoboken , see below to learn more about recent market activity in this category.

From 11/1/05 thru 12/17/05:
49 Active listings
average listing price = $594,294 with ave. sq. ft of 1,093
The low is $359,000 at 701 sq ft.
The high is $1,299,000 at 1940 sq ft in one of the newer high rise buildings.
Of the above listings, only 16 include parking and only 15 offer an elevator.
A parking space in Hoboken adds about $25,000 to $35,000 to the value of the property. They even issue a separate deed with some properties for the parking.

33 Closings from 11/1/05 thru 12/17/05 (remember, the timeline from contract to closing varies, but it can go back a few months)
Average selling price was $574,891 and average sq ft 1,074.
19 of the 33 units that closed had parking and 22 had elevators.
The low was $340,000 at 705 sq ft and the high was $875,000 at 1235 sq ft (this one was on the waterfront in The Constitution)

20 "under contract" from 11/1/05 - 12/17/05 .

I know there is much speculation about this changing market, but you also have to consider the time of year (people don't typically purchase property at this time). Hoboken is a great place to live and the demand continues to be there even if the pace of the market changes.

Information compiled from the Hudson County Multiple Listing Service as of 12/17/05. Information herein deemed reliable but not guaranteed.

getting ready for the holidays

Published Dec 16, 2005 by Judy Marciano.



but still available for business


Price reduction on 635 Madison listing, new list price is $469,000. Please contact me for further details at jmarciano@patinarealty.com

EXIT 15X - new interchange on Jersey Turnpike

Published Dec 15, 2005 by Judy Marciano.

Secaucus Junction


While driving on the Jersey Turnpike today, I noticed a brand new exit, Exit 15X!! Its the new $250 million Secaucus interchange which provides access to Secaucus Junction, the $600 million commuter rail transfer hub.

Secaucus is one of Hudson County's "best kept secrets"....its about 4 miles from NYC, yet still a small, suburban type town. The commute is easy & inexpensive with options - bus, train (Secaucus Junction, www.secaucusjunction.com )or drive by car. Its across the Hackensack River, a mile away, is the area's sports and entertainment center, The Meadowlands, home of the Giants, and the Meadowlands Race Track.

Secaucus is also the corporate home to many businesses and acts a conveniant distribution center serving NYC and Northern NJ. When I worked for Donna Karan, this is where we had our distribution center, company store and outlet. Of course, there are still many wonderful designer outlets in Secaucus too.

It is also home of broadcast studions for MSNBC and UPN Channel 9 and news bureaus for other networks.

So if you decide to venture out to a different place in Hudson County besides Hoboken, Jersey City or Weehawken, this could be a good choice. Taxes are good because of all the above business and there are lots of new developments happening in town. Contact me if you are interested as I am familiar with the area and current real estate activity.

Rent control for Corzine??

Published Dec 14, 2005 by Judy Marciano.

http://www.nj.com/news/jjournal/hoboken/index.ssf?/base/news-0/1134555171305350.xml&coll=3

Fun Facts: Happy Birthday Frank Sinatra

Published by Judy Marciano.















They still celebrate in Hoboken - read below article

http://www.zwire.com/site/news.cfm?newsid=15755182&BRD=1291&PAG=461&dept_id=523592&rfi=6

From Here to Eternity - Shrine to Frank Sinatra

Sinatra was born Dec. 12, 1915, the only child of working-class Italian-American immigrants, in a tenement at 415 Monroe St. in Hoboken.

Take an elevator to Hoboken

Published by Judy Marciano.
















A major plus in our local transportation is connectivity.
If you live in Jersey City Heights area, you can actually take an elevator to Hoboken. The elevator is located on Congress Street, its about 145 feet high and offers a breath-taking view of Manhattan. The elevator connects you to the Ninth Street Light Rail Station in Hoboken. You can take the Light Rail to the Path Station in Hoboken and then transfer to the railroad, bus or stay in Hoboken!!
Passenger service began in September 2004. As I watched them build this elevator high above Hoboken in the cliffs, it was definitely something worth photographing!!! Also, if you are considering living in the Heights, finding a property close to the elevator is something to consider.


Another posting on The New York Post

Published Dec 11, 2005 by Judy Marciano.


my recent sale of a 2-family in Weehawken, in the real estate section of this Saturdays, New York Post, 12/10/05

Active sellers should read this article

Published Dec 10, 2005 by Judy Marciano.


Great article in the Sunday New York Times regarding the status of selling your property in todays market.
http://www.nytimes.com/2005/12/11/realestate/11selling.html?8dpc

check out my smugmug

Published Dec 9, 2005 by Judy Marciano.



A few years ago when I became a realtor, my wonderful husband bought me a digital camera of which I immediately became attached to.
So if you'd like to see a series of different photo's taken through out Hudson County, please click on the below link and enjoy the pictures!!
www.judy.smugmug.com



How's The Market? 11/05 Results

Published Dec 8, 2005 by Judy Marciano.

Hoboken
approx 600 sq ft, 1-br
1 parking space included
sold $435,000










Hoboken
approx 1405 sq ft, 1 br
sold $775,000









HOBOKEN November 2005
One bedrooms:
19 sold
ave. price $446,053
30 active
ave. price $422,227
Two bedrooms:
25 sold
ave. price $567,558
26 active
ave. price $567,558


Hoboken
New Listing
2 br, 1 ba
approx 950 sq ft
listed for $485,000






Information compiled from the Hudson County Multiple Listing Service as of 12.01.05. Information herein deemed reliable but not guaranteed.

Posted on The New York Post

Published Dec 4, 2005 by Judy Marciano.

In this Saturday's, real estate section of the NY Post,
my sale for 128 Jackson St., in Hoboken was mentioned.

W Hotel in Hoboken

Published Dec 1, 2005 by Judy Marciano.

http://www.nj.com/news/jjournal/hoboken/index.ssf?/base/news-0/1133450497246591.xml&coll=3

About me

  • I'm Judy Marciano
  • From Hoboken, NJ, United States
  • Thanks for checking out my blog. I am a full time licensed NJ real estate agent in Hoboken at Empire Realty Group. As I go thru Hudson County each day, often I stop to take a picture. Feel free to contact me for any real estate assistance at jmarciano@empiregroup.com
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Amazing Loft for sale in Hoboken

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For sale 2 br/2ba waterfront condo

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Local Hoboken Photos

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