An "informed but informal" place to find real estate information
Real estate moves in cycles and at this turn in the cycle it's a great time to turn into a buyer.
If you have been considering purchasing a home & have been waiting to see what is going to happen, now is the time to make a decision and take advantage of this changed market. As we all know, the Dow Jones has hit an all time high & we are right across the river from the busiest financial district in the world. And being so close to NYC is an advantage in the eventual rebound of the real estate market. There is a wider selection of current & future inventory, prices are more reasonable, sellers are more motivated, interest rates are still good and the market will rebound, so before that happens, consider making a purchase in the next few months (before the Spring market hits which is typically a busy time in real estate). The positive aspects of home ownership still leads into long term benefits for buyers who plan on staying for awhile. Another change in the market is that more people are purchasing now to actually live in their home vs. investors who used to buy for the purpose of flipping a property for profit. Those type of buyers are quickly decreasing given the current market conditions which is beneficial in adding to the stability of the market.
Although the market has changed, people still have a need for housing, people are still getting job promotions & bonuses, couples are still getting married, people are having families, students are graduating from college and people still get re-located.
And when the market changes like this, the demand for rentals increases and so do the rents....
What can you get for a million dollars and over in Hoboken?
I ran a search this afternoon for condo's priced at one million dollars and above, see below for some of the results:
*total units = 19
*Of the 19 units, average price = $1,339,993 (low = $1,049,000 & high = $1,999,000)
*Most include 1 or 2 parking spaces but a few do not include parking, yet parking is either available for extra or there is a parking facility nearby
*4 of the 19 listed are in Maxwell Place
*2 of the 19 listed are in Hudson Tea
*2 of the 19 listed are in the Metropolitan Grande
*all of them had more than 1 bathroom
Information compiled on 10.26.06 from the Hudson County Multiple Listing Service, this information is deemed reliable but not guaranteed.
I attended a brokers event yesterday at Trump Plaza in Jersey City. We were given an overview of the status of this new luxury residence in Jersey City, which will offer an abundance of amenities such as spa services, sauna, outdoor pool, entertainment lounge, billiard room, golf simulator, fitness center, play area for children and a private screening room and much, much more. You will also be able to enjoy having a round-the-clock uniformed doorman and 24-hour concierge and stunning views of the NYC skyline, Hudson River and Statue of Liberty. The members of their sales staff who gave us this presentation were very helpful & provided us with a lot of detailed information. If you are interested in finding out more about this building or if you are thinking about buying here, please contact Judith Marciano, licensed NJ Realtor at Empire Realty Group in Hoboken, 201.792.8300.
Out of curiosity, I ran a search today for condo's for sale in Hoboken that are on the market for under $250,000. See below for the results:
Condo's under $250,000 in Hoboken:
total units = 7
ave. sq. ft. = 400 (low = 218 and high = 600)
ave. price w/i this range = $224,128 (low = $159,900 and high = $249,000)
1 unit is currently under contract at a list price of $250,000 (they don't disclose the sold price until it actually closes) and the square feet on this property is listed as 313 sq ft.
8 units have been sold that are under $250,000 that were listed as of 1/1/06 at an average list price of $236,387 and an average sold price of $223,175 with average square feet of 419.
information compiled on 10.25.06 from the Hudson County Multiple Listing Service, information deemed reliable but not guaranteed.
Another festival in Hoboken! This one is scheduled for October 28th from 11-4 at Sinatra Park, there will be a hayrides, pumpkin painting and lots more fun things planned.
I am currently doing a search for a few people who are looking to buy a 2 bedroom in Hoboken in the price range of $400,000 to $500,000. The results were interesting with a lot of good possibilities, please see below for a summary of the results:
$400,000 to $500,000 2 bedroom condo's in Hoboken:
Total units available in this range: 48
Average price w/i the 48 units: $460,720
Average square footage: 871 (low = 725 high = 1200)
Average price per square foot = $529
# units with one bathroom = 33
# units with 1.5 bathrooms = 4
# units with 2 bathrooms = 11
# units with parking = 11
information compiled on 10.20.06 from the Hudson County Multiple Listing Service, information deemed reliable but not guaranteed
one family = 16 units
ave. price = $1,015,609 (low = $290,000 & high = $2,400,000)
two family = 8 units
ave. price = $911,873 (low = $549,000 & high = $1,500,000)
three family = 7 units
ave. price = $942,496 (low = $669,000 & high = $1,700,000)
four family = 2 units
ave. price = $1,371,750 (low = $944,500 & high = $1,799,000)
information compiled on 10.16.06 from the Hudson County Multiple Listing Service, information deemed reliable but not guaranteed.
Yes it's true, people aren't buying properties at the same intensity and pace that was happening in the last few years....it's almost like a war of wills between sellers and buyers, which may explain the dramatic increase in rents. (It's definitely a good time to be a landlord, the demand is high and the supply is low). As for the sales market, sellers are aware of the market changes and should be pricing their properties accordingly. Yet, it doesn't appear that the purchase price is the only factor affecting the market. Another factor is the higher supply of property to choose from. Thus allowing buyers to take more time to shop around before they make their final decision. You also have more concern about the future of the market as to what the value of the property will be 6 months to a year from now. From a stepping back and watching the market change from a distance, it almost seems like a distant dream that people were fighting each other to purchase condo's that were priced much higher than their value today. Yet, you can not under estimate the herd mentality in real estate pricing and also have to have confidence in the fact that the forces that drove prices up only 2 years ago are still relevant today. There is a tremendous demand to live in the New York metropolitan area, there is still an abundance of people looking to buy property in Hudson County and a temporary lull in activity only adds to the pent up demand when consumer confidence increases.
one family = 13 units
ave. price = $1,320,761 (low = $679,900 & high = $1,999,000)
two family = 18 units
ave. price = $1,397,605 (low = $799,000 & high = $2,750,000)
three family = 5 units
ave. price = $1,271,780 (low = $1,050,000 & high = $1,399,000)
four family = 5 units
ave. price = $1,832,800 (low = $1,299,000 & high = $3,000,000)
information compiled on 10.14.06 from the Hudson County Multiple Listing Service, information deemed reliable but not guaranteed.
I haven't tried them yet but I recently learned about a business that offers full service organizing specializing in residential, home office and small businesses. I like their concept and will probably contact them to help me in organizing my kitchen. Anyway, it sounds interesting and they do free consultations, the website is
www.clutterbegone.net
Below is a quick recap of condo's on the market in Hoboken as of 10.09.06
Studio = 16 units
ave. price = $305,131
one bedroom = 132 units
ave. price = $422,997
two bedroom = 308 units
ave. price = $616,819
three bedroom = 59 units
ave. price = $780,615
four bedroom = 2 units
ave. price = $1,149,500
information compiled on 10.06.06 from the Hudson County Multiple Listing Service, information deemed reliable but not guaranteed.
move right in to this lovely 2 bedroom/1 bath condo on 9th and Willow.
This home features central air, gas fireplace, stainless steel appliances, marble bathroom, bay windows,hardwood floors, approx 753 square feet but appears much bigger, next to NYC transportation, parking available close by for monthly fee.
list price: $449,000
annual taxes: $4,766
monthly maintenance: $225
Open house today, Sunday from 1-3 at 902 Willow Avenue. For more details or to schedule an appointment, contact Judith Marciano, licensed NJ Realtor at Empire Realty Group in Hoboken, 201.792.8300 or jmarciano@empiregroup.com
(for more pictures go to www.empiregroup.com/902willow)
after todays open house at 72 Garden Street in Hoboken, my husband took me to a late lunch at a delicious Chinese restaurant called P.F. Chang's in West New York.
4-story townhouse condo, steps away from elevator to the 9th Street Hoboken Light Rail station.
This unit features 3 bedrooms, 2 full baths, 2 half baths, dining room, living room, eat-in-kitchen, den, garage parking for 2 cars, solarium on top level with amazing view of NYC. Approx 2000 sq ft.
list price = $599,000 annual taxes = $7183 monthly maintenance = $300
Definitely worth seeing, stop by our open house or to schedule an appointment, contact Judith Marciano, licensed NJ Realtor at Empire Group in Hoboken, 201.792.8300 or jmarciano@empiregroup.com
Saturday from 2-4 at 72 Garden Street in Hoboken
duplex condo featuring 2 br/2ba, deeded yard, w/d in unit, hardwood floors, approx 1240 sq ft, close to all transportation to NYC, parking available next door for monthly fee, stop by our open house or to schedule an appointment contact Judith Marciano, licensed NJ Realtor at Empire Realty Group in Hoboken, 201.792.8300
list price: $599,000
duplex condo featuring 2 br/2ba, deeded yard, w/d in unit, hardwood floors, approx 1240 sq ft, close to all transportation to NYC, parking available next door for monthly fee, stop by our open house or to schedule an appointment contact Judith Marciano, licensed NJ Realtor at Empire Realty Group in Hoboken, 201.792.8300
list price: $599,000
Construction is almost complete at Riva Pointe, for more information on my listings in this wonderful complex located right on the Hudson River in Weehawken, please contact Judith Marciano, licensed NJ Realtor at Empire Realty Group in Hoboken, jmarciano@empiregroup.com
We attended mass yesterday along with more than 100 other people at St. Francis in Hoboken. There were dogs and cats in every pew. It was a very interesting experience and Roxy did get blessed along with so many other beautiful animals.
The Ogden Avenue area of Jersey City Heights offers amazing views of the NYC skyline and the Hudson River.
This new listing is located on Ogden, moments away from the elevator on Congress Street and Paterson Plank Road, that connects you to the Hoboken 9th Street Light Rail Station.
This 4-story townhouse condo, features 3 bedrooms, 2 full baths plus 2 half baths, an office/den on the first floor with a door leading to a 2 car garage. The next level offers a spacious dining room/living room plus eat-in-kitchen. On the next level there are 3 bedrooms and the top level has a solarium w/breathtaking views of NYC.
List price is $599,000. Annual taxes: $7183 Monthly maintenance:$300
If you are looking for an amazing home in Hudson County, this one truly has it all. For more details or to arrange an appointment, please contact Judith Marciano, licensed NJ Realtor at Empire Group in Hoboken, 201.792.8300 (office) or 201.736.5165 (cell) or via e-mail, jmarciano@empiregroup.com.
(I am also having a brokers open house this Wednesday from 2-4, please contact me directly if you'd like to attend).
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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