Welcome to My Blog! Please feel free to email me @ karinaabadnj@gmail.com

Tuesday, November 30, 2010

Maxwell Place Condo | Sells For Big Money

Maxwell Place Condo $ells For Big Money$$

Maxwell Place Hoboken, aka 1125 Maxwell Lane, just sold one of it's condo's at an incredible price.

Unit Number 736, 7th floor

A 1622 square foot, two bedroom, two bath plus den, with direct East facing, NYC Manhattan views and one parking space, sold for $1.6Million -- $1.634,840 - to be exact. But who's counting.

The unit sold yesterday, November 29th.

And, if this record is correct, the MLS listing has the sale recorded as being paid in CASH. 

 This pic above was taken with my camera from a one bedroom in the building with direct NYC views..

Want to see it for yourself? Email me and I'll send you the listing!!

Search for more properties now.

Hoboken Real Estate Market | Update Hoboken Condos and Brownstones

Hoboken Real Estate Market Update Condos and Brownstones

Week Of November 22nd - 28th, 2010  Gobble Gobble!!

Condominium Sales:
For the week there were 3 sales! More turkey than closings ; )
1212 Washington, probably the deal of the year! Sold for $180,000. It is a 4th floor walk up, 654 sq ft one bedroom plus den with a list price of $229,000 sold for $180,000 after 280 days on the market. Needed upgrades.
Here's another deal.
603 Jefferson Street, is a three bedroom one bath, 983 square foot, with a list price of $299,000 - SOLD for $299,000 after being on the market 158 days, and it needed upgrades.
And last but not least - The Hudson Tea - 1500 Washington Street, a 895 square foot one bedroom, facing North and with original floors, kitchen and bath, no parking, and a list price of $485,000 sold for $459,900 after being on the market 71 days.

 Median list and median sale was $299,000. Median days on market, 158 days. Currently, there are 406 condo's for sale. 38 Sold for the month. The median list price for the month was $472,000. Average list price was $534,203. Median sale price was $455,000 Average sale price was $511,465.

(I've been asked why I use median prices instead of averages. I don't like to use averages because I don't think it gives an accurate picture. Averages factors in the extreme lows and highs of the market, for this month, for example, it was $180,000 and 1.63Million - this affects the data by adding factors in very high or very low numbers.. You can see that in the difference between average and median.

If I remove the extremes, then the numbers shift. Average sale becomes $497,452 and median sale stays the same at $455,000.

Pending:
Eleven homes are waiting to close for this week. From the lowest, a 637 Square foot one bedroom two bath at 63 Madison, with a list price of $250,000; to the highest, an 1874 square foot at 610 Clinton, The Cast Iron Building, a two bed two bath duplex plus office, terrace and parking, with a list price of $910,000 are under contract.

Median list price for the week was $399,900. Median days on market is 67 days.

Brownstones and Single Family Homes
Sales:
Zero homes sold this week.

Pending:
Two homes are waiting to close. 103 Willow Terrace, a 4 bedroom 3 bath triplex with two decks and a list price of $769,000, and 33 days on market is waiting to close. And, 1247 Bloomfield, a 4 bedroom 3 bath four story brownstone with yard and a list price of 1.190M in need of full renovations, is waiting to close after being on the market for 50 days.

Information provided by the Hudson County MLS, deemed reliable but not guaranteed.

Wednesday, November 24, 2010

Happy Thanksgiving!!

Happy Thanksgiving!!


Wishing all of you a wonderful Thanksgiving holiday! Thank you to our readers and fans for your support and feedback!

Hoping you have full bellies, pink cocktails and big smiles this Thanksgiving. Enjoy the long weekend and here's to the official kick off of the Holiday Season!!



Don't forget to shop and support your local business!

Monday, November 22, 2010

Hoboken Pizzeria Opens! Dozzino Review

Hoboken Pizzeria Opens! Dozzino Review

I live around the corner from Dozzino and have been patiently waiting for this eatery to open. My husband and I always walk past it, and have been wondering, when the heck is this place going to open?! After all, the closest pizza place near us is Delfino's and personally, their sauce is too sweet for us ; ) So we were very excited to learn that it had opened last week!
We popped in on Saturday evening for dinner before bowling. The decor is fantastic. Simple and cozy. It looks like something you'd walk into on the lower east side. Nice wooden bar with a large chalk board that has the entire menu written on it plus a window to watch the cooks in the kitchen. There is a beautiful espresso coffee machine that would make any java head sweat. Nice wood floors, bright white walls, industrial lamps and exposed wooden beams - love it (sorry, it's the realtor in me).

Food: We tried the Spinach pizza, the Dino pizza and the spicy Diavola - all were delicious. Soft fresh dough, slightly charred and crispy, fresh toppings and no overkill on the spices. They come in personal pies, so no slices here. We also tried the "Sweet Crostini" which was delish - Nutella and Ricotta Cheese on crusti bread. Unfortunately they weren't serving any salads that night so we didn't get to try those.

Dozzino is a BYOB, and if you go next door for your wine, make sure you say that Pat sent cha. We got a nice discount for following his advice.

The service still needs tweaking, our servers were a bit frazzled and the host was frenzied, but I'm betting that this place will be here for years to come! I'll certainly be back. In fact, tonight would be a great night to sit out on their back patio if it's open - will have to try my skills at Bocce Ball.

Downtown Jersey City Real Estate | Market Update

Downtown Jersey City Real Estate Market Update

What's hot

Condominium Sales:
For the week there were 9 sales. From the lowest sale, a 700 square foot one bedroom at 476 Monmouth, with a list price of $232,900, sold for $227,000. To the highest sale, a 1870 square foot three bed two bath duplex with parking and deck, listed at 1.119Mil sold for 1.030Mil

Median list price for the week was $499,000. Median sale price was $499,000. Median days on market was 33 days.

Pending Sales:
7 units are waiting to close. From the lowest priced, a one bedroom one bath at The Chocolate factory, 600 square feet and a list price of $209,000 to the highest, a 1250 square foot two bed two bath with parking and terrace at The Athena building, 389 Washington St, and a list price of $759,000.

 Brownstones and Single Family
Sales:
Zero sales.


Pending:
One home is pending. 339 8th St, a three bed two bath duplex with deck and in-law suite, and a list price of $549,000.















Information provided by the Hudson County MLS, deemed reliable but not guaranteed.

Hoboken Real Estate Market | Update Hoboken Condo's and Brownstones

Hoboken Real Estate Market Update Hoboken Condo's and Brownstones
Week of Nov 15th to 20th 



What's cookin

Condominium Sales
For the week there were eight sales. From the lowest priced sale, a 670 square foot one bedroom at 367 1st with a list price of $294,000 and a sale price of $275,000. To the highest priced sale, a 1490 square foot two bed two bath with terrace and parking, with a list price of $649,000 and a sale price of $639,000 at Observer Plaza - 415 Newark Street.

Median list price for the week was $539,051. Median sale price $527,500. Median days on market 71.

Pending:
For the week there were also eight contracts. From the lowest, a 750 square foot one bedroom with one car parking space, at 223 Bloomfield St and a list price of $355,000. To the highest, a 1504 square foot two bedroom two bath with parking at 109 Harrison, and a list price of $639,900.


Median list price for the week was $487,154 - median days on market was 66 days.

Brownstones and Single Family Homes
Sales:

Two single family homes were sold this week. 58 Willow Terrace, a 3 bed two bath triplex with deck and dedicated parking, a list price of $629,000, sold for $608,500. Days on market 12 days.

702 Garden, a three bed, two and a half bath triplex with basement, and a list price of $819,000, sold for $799,000. Days on market 113 days.

Pending:

Zero

Information provided by the Hudson County MLS, deemed reliable but not guaranteed.




Friday, November 19, 2010

Hoboken Open House List | RE/MAX Gold Coast Realty

Hoboken Open House List RE/MAX Gold Coast Realty

METRO STOP 800 Jackson St.
SPECIAL BUILDER FINANCE PROGRAM
 *NEXT 2 BUYERS ONLY!
When: Saturday 11/20 & Sunday 11/21 1-4PM
Listing Price: 1BR's Starting @ $369,000 /
                      2BR's Starting @ $525,000  

201 Washington St #304 Kit201 Washington St. #304
BEAUTIFUL STUDIO


When: Sunday 11/21 1-3PM
Listing Price:  $269,000
Bedrooms: Studio
Baths: 1
Sq.ft: 340
MLS#: 100012738
View More Info
74 Garden LR74 Garden St. #4S
A MUST SEE!


When: Sunday 11/21 1-3PM
Listing Price: $339,900
Bedrooms: 1
Baths: 1
Sq.ft: 700
MLS#: 100014085
View More Info
300 Newark St #7L LRDR300 Newark St. #7L
JUST REDUCED!


When: Sat 11/20 & Sun 11/21 1-3PM
Listing Price: $384,000
Bedrooms: 1
Baths: 1
Sq.ft: 702
MLS#: 100013263
View More Info
456 9th kit/dr456 9th St. #36
PRESTIGIOUS ROBERT'S COURT

When: Sunday 11/21 1-4PM
Listing Price: $390,456
Bedrooms: 1
Baths: 1
Sq.ft: 634
MLS#: 100013176
View More Info
620 Jefferson St #B Kit620 Jefferson St #B
MODERN DUPLEX

When: Sunday 11/21 1-3PM
Listing Price: $412,000
Bedrooms: 2
Baths: 1
Sq.ft: 950
MLS#: 100003256
View More Info
600 Hudson St 1E LR600 Hudson St. #1E
COMPLETELY RENOVATED

When: Saturday 11/20 1-3PM
Listing Price: $449,000
Bedrooms: 1
Baths: 1
Sq.ft: 862
MLS#: 100011473
View More Info
215 Monroe St. #1215 monroe 1 kit 
*1 YR FREE PARKING!*

When: Saturday 11/20 & Sunday 11/21 1-3PM
Listing Price: $550,000
Bedrooms: 2
Baths: 2
Sq.ft: 1122
MLS#: 100012963
View More Info
415 Newark St. #6G415 Newark St Exterior 
NEW LISTING!

When: Saturday 11/20 1-3PM
Listing Price: $560,000
Bedrooms: 2
Baths: 2
Sq.ft: 1275
MLS#: 100014476
View More Info
163 Newark St. #4B163 Newark 4B LR 
LOOK NO FURTHER!

When: Sunday 11/21 1-3PM
Listing Price: $629,900
Bedrooms: 2
Baths: 2
Sq.ft: 1315
MLS#: 100013746
View More Info
517 Adams St.517 Adams 3 BR 
NEW CONSTRUCTION! ONLY 2 LEFT!

When: Sunday 11/21 1-3PM
Listing Price: Starting @ $689,000
Bedrooms: 2
Baths: 2
Sq.ft: 1600
MLS#: 100011638 & 100011639
View More Info
1500 Garden St. #2F 1500 Garden 2F Kit
REDUCED! HARBORSIDE LOFTS!

When: Sunday 11/21 1-3PM
Listing Price: $1,295,000
Bedrooms: 2+Den
Baths: 2
Sq.ft: 1842
MLS#: 100009645
View More Info
207 8th St. 207 8th St Exterior
COMPLETELY RENOVATED
1 FAMILY JUST LISTED!


When: Saturday 11/20 1-4PM & Sunday 11/21 12-3PM
Listing Price: $1,275,000
Bedrooms: 2+Den
Baths: 2
Lot Size: 17 x 55

Wednesday, November 17, 2010

The W Hoboken Will Host A Photoshoot For The NOH8 Campaign!

The NOH8 group is raising awareness through their NOH8 campaign and their famous photo shoots. The W Hoboken is the first to show support in town. On November 22nd, starting at 6p.m., photographer Adam Bouska will be on hand working to shoot the photographs of subjects in their white T-shirts with silver duct tape around their mouth and the NOH8 logo on their face.
Solo photos require a $40 fee while group photos or couple photos will be for a $25 fee per person. He will then make his final selection, retouch them and make them available on their website at http://www.noh8campaign.com/

If you want to be involved, just show up and make a statement!
Go ready for your closeup, with a white shirt on and then strike a pose! (Duct tape and face tattoo will be provided)

Directly from their website:
"Funds raised by the NOH8 Campaign will be used to continue promoting

and raising awareness for marriage equality and anti-discrimination
through NOH8’s interactive media campaign. This includes bringing the
campaign to other cities around the country, as well as compiling the
images for a large-scale media campaign. Under consideration is the
expansion of our campaign to other media, including television and
radio broadcast, billboards, and magazines. Contributions are also
used to cover the daily operations and maintenance necessary to run
this rapidly growing campaign.
The NOH8 Campaign is an approved 501(c)(3), donations will be
tax-deductible up to the amount allowable by law. "

The W Hotel Hoboken is located at 225 River Street - between 2nd and 3rd streets along River and Sinatra Drive.

Check out more celebrity pics on their website's photo gallery!

Tuesday, November 16, 2010

Hoboken Mortgages| Mortgage Rate Update

Hoboken Mortgages | Mortgage Rate Update

Just got this from my preferred mortgage broker - Mike Mundy from Pinnacle Mortgage..
MMundy@pinnaclemortgage.biz


"It’s been a tough week for mortgage rates, so you will see a slight increase on rates for some of the mortgage programs listed.   Overall, rates are still at a very low level.
Here are the current rates … if you have any questions, please let me know. 
**Keep in mind that every borrower’s situation is different, and each must be evaluated individually.
Rates could be higher, or lower, depending on each individual scenario!!**

REVISED November 16th, 2010---- 11:00 AM ET
Lock Period = 45 Days
CONVENTIONAL CONFORMING LOANS  (loans less than or equal to $417,000)   

30 YEAR FIXED ---------------------------- 4.375%/ 4.393% APR
30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.139% APR
15 YEAR FIXED----------------------------- 3.750%/ 3.883% APR
5 / 1 ARM------------------------------------- 3.250%/ 3.091% APR
7/1 ARM ------------------------------------  3.500%/ 3.341% APR"

Hoboken Real Estate Market | Update Condos and Brownstones

Hoboken Real Estate Weekly Market Update Condos and Brownstones
Week of November 8th - 14th

What's Cookin

Condominium Sales:
For the week there were six sales. From the lowest priced sale, 1015 Grand, a 740 Sq foot one bedroom with parking and a list price of $357,000 sold for $342,500, to the highest sale, a two bed two and a half bath duplex with roof deck and parking at 829 Washington St with a list price of 1.125M, and a sale price of $999,999 - COOL CASH.

Median list price was $569,583, median sale price was $537,500, median days on market was 59 days.

Pending:
For the week there were also six units go under contract. From the lowest price - a 1023 sq ft two bed two bath at Adams Square with a list price of $417,500 to the highest, a 1390 sq ft two bed two bath with parking at Ava Court - 635 6th Street and a list price of $539,000.

Median list price for the week was $507,000. Median days on market was 96 days.

Brownstones and Single Family Homes
Sales: 
82 Madison, a 3 bedroom two and a half bath single family with garage and yard plus deck sold for $925,000 CASH after being listed for $999,000.

Pending:
One home is pending. 1247 Bloomfield, a 4 bed 3 bath 4 story brownstone with a list price of 1.19Million and in need of extensive renovations is under contract. 


Compare this week's weekly report to last


Information provided by the Hudson County MLS, deemed reliable but not guaranteed






Monday, November 15, 2010

Hoboken Chocolatier - Spotlight On A New Chocolate Co.

When I heard my client started her own chocolate business - I had to know more!

Tamara was recently a part of corporate America in the fashion business - when things went sour, she turned sweet. Tamarastreats.com is her web based custom chocolate company and she creates signature treats from scratch. You can choose from her delectable signature creations or make your own gooey madness from her endless array of custom mixable possibilities including healthy nuts, juicy dried fruits
and sweets.

The16 oz chocolate treats are packaged adorably in vintage-inspired Ball
Jars, topped with the fabric of your choice and adorned with a hangtag that is sweetly tied
on with grosgrain ribbon seen here.


Inside is "The Inspiration" a recipe handed down from her mother that she's perfected consisting of creamy white chocolate, crunchy pretzels, salty peanuts and Oreo cookies. It is truly a decadent treat for any occasion!



Wedding Bells? Look at this adorable Mr and Mrs dipped apples dressed in bridal gown and a groom's tux.  Great for wedding gifts or
maybe create your own design for a bridal or baby shower!



Look for her creations on www.TamarasTreats.com or on Facebook at www.facebook.com/tamarastreats and on Etsy at www.etsy.com/shop/tamarastreats

Mention LaVidaSquared for a special gift!! ENJOY

Hoboken Mortgages | How To Secure The Best Mortgage Rates

No doubt you're aware that mortgage rates have been low throughout the year. You've also probably heard that this fall has seen interest rates dip to record lows for the modern era. But, you may have also heard that some buyers, or refinancing homeowners, are having difficulty obtaining loans at the lowest advertised rates. The loan application process is much more rigorous than in years past and the processing time for loan applications has grown.

How can you know whether or not you realistically qualify for the great rates being advertised? Remember that lenders are all about assessing risk - they are looking for applicants with a very low risk of defaulting on their loan. There are five key factors that a mortgage broker will look at when determining the rate you will pay on the loan:

Down Payment

Mortgages can still be obtained with low money down, but having a 20 percent down payment is the best bet if you hope to obtain the best interest rates. If you can afford to make a down payment in excess of 20 percent on the house, you will be in an even better position to take advantage of the lowest mortgage rates.

Assets

Lenders these days are going to be very exacting when reviewing your financial records. They will want to verify that you have the necessary cash to cover the down payment and closing costs. Banks will also want to make sure you have some amount of cash buffer as an insurance policy of sorts. All of this will need to be proven with extensive documentation, and many lenders will want to review several months' worth of your account statements. Lenders will also ask for copies of recent tax returns. 

Credit Score

It's no secret that the strength of your credit score greatly affects the type of loan you will qualify for. The magic number to aim for is a FICO score of 700 or better. Clearing the 700 benchmark will qualify you for the best mortgage rates, while a score even just a few points below 700 can cost you as much of a quarter of a point in interest, which equates to thousands of dollars over the life of the loan. 

Job Security

Not surprisingly, lenders will want to make sure that your career situation is stable enough that you will be able to continue to make the loan payments on into the future. Banks will want to see documentation to indicate how long you have been with your current employer. Ideally, you will have two years or more employed by the same company.

Loan Type & Loan Length

Adjustable mortgages have lower initial rates overall than fixed-rate loans. FHA loans will typically have a higher interest rate, as will jumbo loans (mortgages taken out on higher-priced homes). As a rule of thumb, fixed rate loans will have higher interest rates as the length of the loan increases, so a 10 year fixed rate loan will have a lower rate than a 15 year mortgage, which will in turn be lower than a 30-year fixed loan. And all mortgage rates vary from state to state and even from city to city, so the rates you see advertised nationally may not be relevant to your search for the right loan.




    Thursday, November 11, 2010

    Helping Feed Hoboken Families - Thanksgiving Dinner Drive

    We are hosting our annual Thanksgiving Food Drive, and this year, we have doubled our goal from before, and committed to serve 50 families with the help of St Ann's Church. The dinners are delivered, on Thanksgiving eve to the home's of local families.  This has become something that we look forward to and really work hard to meet our goal. Whatever we don't receive, we purchase ourselves to complete the dinners!
    Our office will serve as a donation drop off until the weekend before when we start assembling the boxes to be set for delivery. 

    If you'd like to help here is a shopping list of the items we need:
    • Turkeys! (You guessed it) 10 - 15 lbs
    • Stuffing  14 oz works best
    • Boxed Mashed Potatoes  About 15oz
    • Canned Veggies - French Cut Green Beans, Corn, Peas & Carrots 29oz
    • Canned Cut Yams - 40 oz
    • Chicken Broth - (Low sodium if you find it) 48 oz
    • Cranberry Sauce - 16 oz cans
    • Gravy Mix or Jarred Gravy
    • Mushroom Soup - 10 3/4 oz
    • Canned French Fried Onions
    • Spices - thyme, pepper, rosemary, parsley
    • Large oval roaster pan
    • Martinelli's sparkling cider - apple or grape
    • Entenmanns apple or pumpkin pies - with fresh sell by dates
    Our office address is 56 Newark Street in Hoboken, NJ. We are open Mon - Fri from 10A.M. to 8P.M. and on Sat - Sun from 11A.M. to 5P.M.
    If you'd like to donate a turkey, they can be dropped off the weekend of the 20th and leading up the 24th. Please check expiration dates on the goods you will purchase. And thank you for your help! There is always someone who needs a hand. 


    Wednesday, November 10, 2010

    Hoboken Brownstone

    Hoboken Brownstone

    I snapped this after finding a parking space on Hudson Street. Beautiful. Love the grand entrance banister and all of the detail around that door!

    Downtown Jersey City Real Estate | Weekly Market Update

    Downtown Jersey City Real Estate Weekly Market Update
     Week of November 1st

    What's hot

    Condominium Sales:
    For the week there were four sales. The lowest, a one bedroom at Gulls Cove, 744 square feet with parking and a list price of $349,900 sold above asking at $379,900.The highest priced sale, one of my favorite buildings, The Sugar House, a 1300 square foot two bedroom two bath with parking and a list price of $649,000 sold for $629,000.

    Median list price was $541,950, median sale price $534,450. Median days on market was 10 days.

    Pending Sales:
    Two units are waiting to close. One unit also at Gulls Cove, a 780 sq foot one bedroom with a list price of $375,000; and a three bedroom two bath duplex at 149 Essex- Fulton's Landing, 1372 sq feet, one parking space, and a list price of $624,900.

    Brownstones and single family homes
    Sales:
    One single family at 249 2nd street sold for $312,000 with a list price of $329,000. The house was a fixer upper with three bedrooms and two baths on two floors.

    Pending:
    No homes are pending for the week.

    Information provided by the Hudson County MLS, deemed reliable but not guaranteed.

    Tuesday, November 9, 2010

    Hoboken Real Estate Market | Update Condo's and Brownstones

    Hoboken Real Estate Market Weekly Update Condo's and Brownstones
    Week of November 1st, 2010

    What's cookin in Hoboken?

    Condominium Sales:
    For the week there were 12 sales. From the lowest price, 509 Willow, 625 square foot one bedroom with a list price of $309,000 fetched $290,000 after being on the market 153 days. To the highest price sale, 1500 Garden, The Harborside Lofts, a 1900 square foot three bedroom two bath with parking, with a list price of 1.03M, sold for $989,000 after being on the market 74 days.

    Median list price for the week was $463,950 and the median sale price was $450,500. Median days on market 68 days.

    Pending:
    For the same week there are 9 units waiting to close. From the lowest priced unit, a 654 square foot one bedroom with a list price of $229,000. To the highest price unit, a 4 bedroom 3 bath duplex with 2531 square feet and parking at The Vesta, 609 Observer Highway, with a list price of $999,000.

    Median list price $499,000 median days on market 94 days.

    Brownstones and single family homes
    Sales:
    One brownstone sold for the week. 212 8th street, a 17 by 60 lot, 4 bedroom 3.5 bath brownstone with a list price of 1.39Million sold for 1.287Million after being on the market just 11 days.

    Pending:
    No pending sales for this week.


    Information provided by the Hudson County MLS, deemed reliable but not guaranteed.

    Monday, November 8, 2010

    Hoboken Homes | And Tight Spaces - Decorating Idea

    Hoboken Homes| And Tight Spaces - Decorating Idea

    If you live in a Hoboken Condo or Brownstone, chances are you are let's say, horizontally challenged. It is crucial to decorate a home to make the best use of the space you do have, and maximize storage space. I just found this beautiful bench on Etsy.com that I think would work fantastic in an entrance or a narrow wall in your home that you're not sure what to do with!

    A bench like this could work many ways
    Extra seating for guests when you need it
    Store seasonal shoes and boots underneath
    Add a mirror above it in an entrance to make your place look bigger ; )
    Add shelves above it for storage
    Add cute mismatched hooks and knobs above for a bohemian look and hang coats and hats
    Stack gifts on here when there's no room to keep them anywhere else
    Use a bench like this next to a small eating table that tucks neatly underneath

    Any other ideas? Buy it on Etsy or pick one up at a local furniture store, or street sale and paint it in an eye popping color!

    Celebrity Real Estate - Jessica Alba's Home For Rent

    Jessica Alba not only has personal style and flair, it seems her interior decorating skills are just as beautiful as she is.

    Would you rent this home?
    Her Balinese style three bedroom three and half bath furnished home is being offered for rent at $8,950 a month. The house offers over 3000 square feet of living space, a screening room, gourmet kitchen, large terrace with city views, cathedral ceilings, beautiful furnishings, espresso hardwood flooring, two parking spaces, controlled access and 24 hour security.
    This French style home is as beautiful from the outside as it is on the inside.

    Hoboken Real Estate | How To Obtain The Best Mortgage Rates

    Hoboken Real Estate: How To Obtain The Best Mortgage Rates

    No doubt you're aware that mortgage rates have been low throughout the year. You've also probably heard that this fall has seen interest rates dip to record lows for the modern era. But you may have also heard that some buyers or refinancing homeowners are having difficulty obtaining loans at the lowest advertised rates. The loan application process is much more rigorous than in years past and the processing time for loan applications has grown.

    How can you know whether or not you realistically qualify for the great rates being advertised? Remember that lenders are all about assessing risk - they are looking for applicants with a very low risk of defaulting on their loan. There are five key factors that a mortgage broker will look at when determining the rate you will pay on the loan:

    Down Payment

    Mortgages can still be obtained with low money down, but having a 20 percent down payment is the best bet if you hope to obtain the best interest rates. If you can afford to make a down payment in excess of 20 percent on the house, you will be in an even better position to take advantage of the lowest mortgage rates.

    Assets

    Lenders these days are going to be very exacting when reviewing your financial records. They will want to verify that you have the necessary cash to cover the down payment and closing costs. Banks will also want to make sure you have some amount of cash buffer as an insurance policy of sorts. All of this will need to be proven with extensive documentation, and many lenders will want to review several months' worth of your account statements. Lenders will also ask for copies of recent tax returns.

    Credit Score

    It's no secret that the strength of your credit score greatly affects the type of loan you will qualify for. The magic number to aim for is a FICO score of 700 or better. Clearing the 700 benchmark will qualify you for the best mortgage rates, while a score even just a few points below 700 can cost you as much of a quarter of a point in interest, which equates to thousands of dollars over the life of the loan.

    Job Security

    Not surprisingly, lenders will want to make sure that your career situation is stable enough that you will be able to continue to make the loan payments on into the future. Banks will want to see documentation to indicate how long you have been with your current employer. Ideally, you will have two years or more employed by the same company.

    Loan Type & Loan Length

    Adjustable mortgages have lower initial rates overall than fixed-rate loans. FHA loans will typically have a higher interest rate, as will jumbo loans (mortgages taken out on higher-priced homes). As a rule of thumb, fixed rate loans will have higher interest rates as the length of the loan increases, so a 10 year fixed rate loan will have a lower rate than a 15 year mortgage, which will in turn be lower than a 30-year fixed loan. And all mortgage rates vary from state to state and even from city to city, so the rates you see advertised nationally may not be relevant to your search for the right loan.
     
     

    Saturday, November 6, 2010

    Hoboken Condos | Hoboken Open House List | RE/MAX Gold Coast Realty

    Hoboken Condos Hoboken Open House List RE/MAX Gold Coast Realty
     Make sure to see me at 132 Adams Street!

    HOBOKEN 
    800 Jackson St.
    SPECIAL BUILDER FINANCE PROGRAM
     *NEXT 2 BUYERS ONLY!
    When: Saturday 11/06 & Sunday 11/07 1-4PM
    Listing Price: 1BR's Starting @ $369,000 /
                          2BR's Starting @ $525,000  
    132 Adams St132 Adams St. #1
    JUST REDUCED!


    When: Sunday 11/07 12:00-2:00PM
    Listing Price: $369,000
    Bedrooms: 2
    Baths: 2
    Sq.ft: 888
    MLS#: 100010656
    View More Info
    312 Madison St 2A LR312 Madison St. #2A
    SPACIOUS 1BR CONDO! 


    When: Sunday 11/07 2:30-4:30PM
    Listing Price: $379,900
    Bedrooms: 1
    Baths: 1
    Sq.ft: 800
    MLS#: 100013138
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    300 Newark St300 Newark St. #7L
    NEW LISTING! 


    When: Sunday 11/07 1-3PM
    Listing Price: $399,000
    Bedrooms: 1
    Baths: 1
    Sq.ft: 775
    MLS#: 100013263
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    456 9th kit/dr456 9th St. #36
    PRESTIGIOUS ROBERT'S COURT! 


    When: Saturday 11/06 1-3PM
    Listing Price: $405,456
    Bedrooms: 1
    Baths: 1
    Sq.ft: 634
    MLS#: 100013176
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    215 Monroe St. #1215 monroe 1 kit 
    *1 YR FREE PARKING!*

    When: Saturday 11/06 & Sunday 11/07 1-3PM
    Listing Price: $550,000
    Bedrooms: 2
    Baths: 2
    Sq.ft: 1122
    MLS#: 100012963
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    163 Newark St. #4B163 Newark 4B LR 
    NEW LISTING!

    When: Sunday 11/07 1-3PM
    Listing Price: $669,000
    Bedrooms: 2
    Baths: 2
    Sq.ft: 1315
    MLS#: 100013746
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    812 Grand St. #310313 grand exterior 
    THE HUNTINGTON! PRICE REDUCTION!

    When: Sunday 11/07 1-3PM
    Listing Price: $709,900
    Bedrooms: 2+Den
    Baths: 2
    Sq.ft: 1412
    MLS#: 100008787
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    615 Adams St. #2B615 adams 2B 
    ELEGANT DUPLEX!

    When: Saturday 11/06 2-4PM
    Listing Price: $825,000
    Bedrooms: 3
    Baths: 2.5
    Sq.ft: 2056
    MLS#: 100011367
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    Thursday, November 4, 2010

    Ladies: Shop till you drop event at Lua in Hoboken!

    Lua Restaurant and Lounge on the waterfront in Hoboken, NJ, hosts an annual mixer slash shopping slash beauty event at their restaurant right around the holidays. This year, they are making their event bigger and better - and you won't want to miss it!

    On December 13th starting at 7p.m. Lua will be hosting this fabulous night. Stop by and get in some shopping for you and for your holiday nice list. There will be lots of local businesses and vendors there from boutiques, to jewelry, handbags, and art, with their merchandise on hand. While you're there grab a cocktail from the bar at 50% off all night. Network and meet great people while enjoying the atmosphere and supporting local business owners.
    Lua will also be holding a coat and toy drive simultaneously, so if you're feeling generous, bring an unwrapped toy for a boy or girl, or, bring a coat to donate.
    There will be some surprise appearances plus some raffles and giveaways! Last years event brought in approximately 400 people! This year should be bigger with more vendors. A great way to kick off the week indeed - martini in hand!

    Wednesday, November 3, 2010

    Downtown Jersey City Real Estate | Market Update - October

    Downtown Jersey City Real Estate Market Update - October

    October
    Condominium Sales:
    For the month of October, downtown Jersey City reported 19 sales.
    From the lowest sales price of $227,500 to the highest sales price of $727,500.
    The median list price was $379,000. Median sale price was $370,000. Median days on market was 65 days. Average price per square foot was $419.20 - about a $30.00 discount from Hoboken Real Estate, per sq foot averages for October sales.

    By bedroom the sales broke down as follows:
    1 Bedrooms - 4 sales
    2 Bedrooms - 8 sales
    3 Bedrooms - 4 sales
    Studios - 3 sales

    Sales are down compared to September which recorded 30 sales. 

    New Contracts for October stand at 24 that are waiting to close. This is up from September, with 17 new contracts. The median list price for those pending was $471,400. Also up from September's median list price of $389,000. By bedroom those sales are almost even, with 10 one bedrooms and 11 two bedrooms, the rest are 3 bedroom units.

    CNNMoney reported this week that existing home sales climbed for another month fueling hope that a recovery may be underway.


    Economists at briefing.com predicted sales to inch up to 4.25 million units, but it came in at 4.53 million units, up from 4.12 million units in August, said the article.
    Bankrate.com is quoting a 30 year fixed rate mortgage at 4.25% today.

    Last year, the average 30-year fixed mortgage rate was 6.2%, according to Bankrate. On a $200,000 loan, at last year's rate of 6.25%, the monthly payment would be $1108.00 with 10% down. With today's rate and the same 10% down, that same mortgage would be just $885.00 a month.
    The low rates helped mortgage applications surge by 16.4% last week, according to the mortgage bankers association. Purchase applications rose 13.2% to reach the highest level since January.

    Tuesday, November 2, 2010

    Hoboken Real Estate Market | Hoboken Condos and Brownstones | Update October Report

    Hoboken Real Estate Market Update Hoboken Condos and Brownstones - October Report

    Weekly Numbers for the week of October 25th thru the 31st.
    12 Units sold.
    Lowest Priced sale was $247,500, for a 600 sq foot two bed condo.
    Highest priced sale was $760,000 for a 1807 sq foot three bed condo.
    Median list price was $419,000, median sale price was $397,500.

    3 Units pending. Median list price $507,500.

    Now the meat and potatoes.

    How did October do overall?

    Sales: October had a total of 51 sales recorded. Almost the same as September's Hoboken Real Estate sales report. The median list price for the month was $418,888. Median sale price for the month was $399,000.
    Sales prices are down about 8.9% from last month. September's median sale price was $438,000.
    Don't panic just yet! Average price per square foot in October was $449.86 and days on market was 86 days. September average price per square foot in September was less than $1.61 higher = $451.47

    Pending: October has a total of 45 units waiting to close, compared to Septembers 51 units. The median list price for those pending in October is $469,000 compared to September's median list price of $475,000.

    By Bedrooms:
    3 Bedrooms - 7 sales
    2 Bedrooms - 23 sales
    1 Bedrooms - 16 sales
    Studios - 4 sales

    The average price per square foot of two bedrooms in Oct was $439.82 a foot.
    The average price per square foot for one bedrooms in Oct was $462.80 a foot.

    CNNMoney reported this week that existing home sales climbed for another month fueling hope that a recovery may be underway.
    Economists at briefing.com predicted sales to inch up to 4.25 million units, but it came in at 4.53 million units, up from 4.12 million units in August, said the article.

    Bankrate.com is quoting a 30 year fixed rate mortgage at 4.25% today.
    Last year, the average 30-year fixed mortgage rate was 6.2%, according to Bankrate. On a $200,000 loan, at last year's rate of 6.25%, the monthly payment would be $1108.00 with 10% down. With today's rate and the same 10% down, that same mortgage would be just $885.00 a month.


    The low rates helped mortgage applications surge by 16.4% last week, according to the mortgage bankers association. Purchase applications rose 13.2% to reach the highest level since January.