There May Be No Such Thing As The Perfect Hoboken Condo

There May Be No Such Thing As The Perfect Hoboken Condo

Shopping for a condominium is exciting. Looking at other people's home's is fun I'll admit. But when it turns into a sport more so than a goal then you may be searching for something that doesn't exist. Remember, almost never does someone find a "perfect home".

Here are my tips when searching for a home.
1. Make a wish list

I'm not talking about a power point presentation, I usually ask my clients to give me their top five. Yours might be something like this:

• Close to Ferry
• Two bedrooms
• Garage parking
• Renovated Kitchen
• Washer Dryer on site

Your wish list are the thing's you MUST have. Try not to be too specific like, dish washer, 1200 square feet, exposed brick and first floor. You don't buy a home solely based on it's features. You buy a home for your lifestyle. Details can always be added to suit your style.

2. Visit some open houses
Before you view condo's with your real estate agent, take one or two Sundays to yourself to look at some open houses with whomever you are buying with, say your spouse or partner, or if you're buying for yourself, then take your closest friend.
This is important because many times you will find that what you want, is not what your partner wants, or what you thought you wanted, is not really what you thought you wanted. You also want to get comfortable walking into other people's homes. Lastly, it's a good way to get an introductory grasp on the market and what is available in your price range. You may learn that $400,000 may not buy you the roomy two bedroom two bath you were hoping for.

3. Don't rush to view homes

Make it a point to meet with your real estate agent to discuss what's important to you in a home, your lifestyle, and discuss what you expect from him or her. Then let your agent get to work and do the searching.

Hopefully you were referred to an agent who is skilled and will listen to your needs then show you homes that only fit your criteria.

4. Know that you can find your ideal home on your first day out!

Don't be scared! Don't feel like you have to see everything on the market or that you didn't look long enough. Most buyers find the home they want to make an offer on, once they've seen on average 6 homes!! Your agent is skilled to pin point what you are looking for. Plus, like myself, many agents preview listings and we are familiar with many buildings. So, I can say to a client that says to me, "what about this unit? Can we see this one?" - I'll respond with, it is not an open layout like you wanted, and the terraces in this building are located off of the bedrooms - not the living room.

5. When you see one you like - go for it.

Don't wait to see a few more before you decide. It happens ALL the time, even in slow markets. A buyer will see one they like, then they'll decide they want to keep looking a little more. Well, you know what happens next. The buyer will want to come back and make an offer, and that home has an accepted offer.

Remember, there are ALWAYS a pool of buyer's looking for the same specific qualities/wish list you're looking for.

If you've seen more than 20 - 30 homes, then I recommend that you sit down with your real estate agent, re-evaluate and come up with a new game plan. Prepare to make some repairs and changes. You are unique and so are your tastes. Remember, paint can be changed so can counter-tops and window hangings. You can add molding you can take away molding. What's important is the space and if it suits your day to day life.

Part of the fun of being a home owner is personalizing your home.

Update On Weekly Hoboken Real Estate Stats

My weekly Hoboken & Jersey City Real Estate Stats will be updated on October first as opposed to today.
Check back for a comparison of June through September so that we can get a better picture of the Home Buyer Tax Credit affect on our markets plus a peak at what the fall could look like. Margaret Kelly - CEO of RE/MAX released a statement following August's real estate report.

“This summer’s market is still recovering from the number of buyers who bought earlier to take advantage of the Tax Credit,” said RE/MAX CEO Margaret Kelly. “It may take a couple of months to regain its footing, but we are expecting an increase in sales for September as the final deadline for the Tax Credit nears, and we’re very pleased that prices are holding steady.”

Downtown Jersey City Real Estate | Weekly Market Update

Downtown Jersey City Real Estate Weekly Market Update
Week of September 13th, 2010

What's hot in JC

Condominium Sales:
For this week there were four closed sales. From the lowest priced, a 650 square foot one bedroom one bath at 254 9th Street with a list price of $325,000 and a sale price of $310,000, to the highest price, a 1585 square foot two bedroom plus den, two bath at 140 Bay Street - Bay Street Lofts, with a list price of $649,000 and a sale price of $635,000.

Pending Sales:
Three units are under contract for the week.
321 8th Street - two bedroom one bath, 650 sq feet with a list price of $365,000
83 Bright Street - two bedroom plus den two bath, 1730 sq feet with a list price of $575,000
50 Wayne Street - two bedroom two bath, 1756 sq feet with a list price of $645,000

Median list price for the week was $424,000, median sale price was $413,750. Median days on market, 152 days.

Single Family Brownstones
No brownstones or single family homes sold or are under contract for this week.


Information provided by the Hudson County Multiple Listing Service, deemed reliable but not guaranteed.

Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones

Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstone
Week of September 13th, 2010

What's cookin'

Condominium Sales:
For the week of the 13th, there were 9 units that closed. From the lowest, a 590 square foot one bedroom one bath located at 625 Willow Ave with a list price of $299,500 and a sale price of $295,000 to the highest, a 1260 square foot three bedroom two bath located at 501 9th St - aka Prospect Hill with a list price of $619,000 sold for $592,000.

Pending:
9 Units are under contract for this week. The lowest price, a 781 square foot two bedroom at 108 14th street with a list price of $299,000 and the highest asking price, a 1038 square foot two bedroom two bath at 1300 Grand - The Upper Grand - with a list price of $515,000.


Median list price, $469,900 and median sold price $445,000. Median days on market 73 days.


Single Family Brownstones
No Hoboken brownstones, or single family homes, were sold or written under contract for this week.

There are currently just nine for sale.


Information provided by the Hudson County Multiple Listing Service, deemed reliable but not guaranteed.