Hoboken Mortgages | Rate Update

Hoboken Mortgages Rate Update

Rates have come down slightly! An update from Pinnacle Mortgage - Michael Mundy

REVISED February 23^rd, 2011---- 12:00 PM ET

Lock Period = 45 Days

CONVENTIONAL CONFORMING LOANS  (loans less than or equal to $417,000)   

30 YEAR FIXED ---------------------------- 4.875%/ 4.913% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.396% APR

15 YEAR FIXED----------------------------- 4.250%/ 4.298% APR

5 / 1 ARM------------------------------------- 3.500%/ 3.211% APR

7/1 ARM ------------------------------------  3.875%/ 3.586% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points  (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS  (loans greater than $417,000, but less than $729,500)   

30 YEAR FIXED ------------------------- 5.125%/ 5.136% APR

15 YEAR FIXED ------------------------- 4.500%/ 4.527% APR

 ** Loan amount restrictions based on county and property type.  Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

Hoboken Real Estate | Market Update

Hoboken Real Estate Market Update

Week of February 14th - 20th 2011

Condominiums
Sales: For the week there were 13 total sales. Sales have been pretty steady for the last couple of weeks. The lowest sale price was $387,500 and the highest was $695,000.

Median list price for the week was $500,000 and median sale price was $485,000. Average days on market was 83 days.

Pending: For the week there are 12 units waiting to close. The lowest list price was $175,000 and the highest list price was $655,000. The median list price was $522,000. Average days on market for these under contract was 93 days.

Currently there are 368 Condos For Sale

Hoboken Brownstones and Single Family Homes
For this week there were no sales and no homes under contract. Currently there are 12 single family homes for sale.

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

Crystal Point Jersey City Price For Sale

Crystal Point Jersey City Price 

Crystal Point Jersey City, downtown Jersey City's latest buzz, well, really people haven't stopped talking about it since their grand opening in 09 - is selling out.

Crystal Point is one of the latest additions to the downtown Jersey City skyline. Boasting a crystalline exterior of floor to ceiling glass and 42 stories into the sky, it is truly a "waterfront" luxury property at just 25 feet from the shore line.

Crystal Point Prices:
As of today, February 16th, 2011, Crystal Point has sold out of their three bedroom inventory. They currently have one and two bedroom units left.



The One Bedrooms range from 800 square feet to 1050 square feet and they all offer views (the entire building does). They start at $525,000 and go up to $825,000. Maintenance Fees will range at about .57 cents per square foot, so it will depend on the size of your unit.

The Two Bedrooms range from 1371 square feet to 1586 square feet, again all with water views. They start at $975,000 and go up to the range of $1.6Million. Maintenance fee charges are about .57 cents per square foot.

Tax Abatement - the building has been granted a 30 year tax abatement at an unbelievably discounted rate of 0.9% (!?!??) and in it's max will go up to 1.3%

Quick Crystal Point Details:

• 269 residences
• New construction ground up
• Concrete supports
• 42 stories
• Floor to Ceiling Glass
• On site parking
• 1, 2 and 3 bedroom layouts ranging from 800 square feet to 1817 square feet 
• Every unit features a view of the water
• SMART home technology 
• Over 75% sold 
• Best Tax Abatement (seriously)
• One Valet Parking Space included for owners

Crystal Point Amenities:

• Spa - Crystal Point has included a spa outfitted with sauna, thermal bath, steam room and treatment room for those wanting to bring in their own masseuse 
• Fitness Center - premium weight training and aerobic training equipment along with the space for yoga classes and more
• Outdoor Pool and Hot Tub with Sun Deck and views of the Hudson River, BBQ, private dining area and private cabanas, fire pits and children's play area
• Game Room - Billiard and Poker Table
• Lounge with catering kitchen for parties, flat screen television, kids room and a private screening room
• Concierge 
• Valet Parking
• Lobby Level Dining - Restaurant 

Availability is changing since the building now has just the final 60-70 units left. Sales activity has been strong in this luxury condo building with it's unique features and locations. For availability requests and appointments simply send an email to Kairnaa@remax.net

Hoboken Real Estate Market Update | Condo's and Brownstones

Hoboken Real Estate Market Upate, Condo's and Brownstones

Week of February 7th - 13th  2011

Lucky 7's

Condominiums

Sales: For the week there were a total of seven sales. From $255,000 for a one bedroom to $550,000 at the Huntington.
The median list price for the week was $425,000 and the median sale price was $413,000. Median days on market was 77 days.

Pending: For the week there are seven sales pending. (See a pattern? ) From $172,500 for a short sale, to $849,000 at The Hudson Tea Harborside Lofts. Median list price for those pending is $389,000, median days on market was 28 days.

There are currently 370 condo's for sale.

Brownstones

Sales: No sales for the week.
Pending: No pending for the week.

RE/MAX Hoboken Open House List Valentine Weekend!

RE/MAX Hoboken Open House List Valentine Weekend

Come out with a friend or your sweetheart - then go for Brunch! <3

831 Clinton St. #5

NEW LISTING! 1BR W/ BOX LAYOUT   

 

When: Sunday 2/13 1-3PM

Listing Price: $239,000

Bedrooms: 1

Baths: 1
Sq.ft:  672
MLS#: 110000183
View More Info

421 Adams St. #2R JUST LISTED!  When: Sunday 2/13 1-3PM Listing Price: $299,000 Bedrooms: 1 Baths: 1 Sq.ft:  543 MLS#: 110000880 View More Info

137 Park Ave. #1 NEW LISTING! 2BR CONDO MINS TO PATH!     When: Sunday 2/13 1:30-3:30PM Listing Price: $349,000 Bedrooms: 2 Baths: 1 Sq.ft:  737 MLS#: 110001174 View More Info

708 Garden St. #3 NEW LISTING! BEAUTIFUL 1BR + DEN When: Sunday 2/13 1:30-3:30PM Listing Price: $369,000 Bedrooms: 2 Baths: 1 Sq.ft: 875 MLS#: 110001562 View More Info

800 Jackson St. MANY LAYOUTS SELLING OUT!   When: Saturday 2/12 & Sunday 2/13 1-4PM Listing Price: 1BRs Starting @ $359,000 /                       2BRs Starting @ $499,000   View More Info

300 Newark St. #7L 1BR IN JEFFERSON TRUST BLDG When: Saturday 2/12 1-3PM & Sunday 2/13 12-2PM Listing Price: $384,000 Bedrooms: 1 Baths: 1 Sq.ft: 775 MLS#: 100013263 View More Info

108 Monroe St. #2C  2BR/2BA CLOSE TO PATH When: Sunday 2/13 2-4PM Listing Price: $435,000 Bedrooms: 2 Baths: 2 Sq.ft:  1172 MLS#: 110001254 View More Info

326 Monroe St. #3  GORGEOUS 2BR/2BA W/PRIV DECK When: Sunday 2/13 1-4PM Listing Price: $499,000 Bedrooms: 2 Baths: 2 Sq.ft: 1314 MLS#: 100014841 View More Info

719 Monroe St.  LAST ONE LEFT!! When: Saturday 2/12 & Sunday 2/13 1-3PM Listing Price: $525,000 Bedrooms: 2 Baths: 2 Sq.ft:  1105 MLS#: 100014958 View More Info

415 Newark St. #6G LOVELY 2BR/2BA When: CANCELED Listing Price: $549,000 Bedrooms: 2 Baths: 2 Sq.ft: 1275 MLS#: 110000515 View More Info

725 Jefferson St. #4 JUST LISTED! When: Saturday 2/12 & Sunday 2/13 1-3PM Listing Price: $625,000 Bedrooms: 2 Baths: 2 Sq.ft: 1241 MLS#: 110000956 View More Info

517 Adams St. #2 2BR/2BA WITH PRIVATE ELEVATOR  When: Sunday 2/13 1-3PM Listing Price: $689,000 Bedrooms: 2 Baths: 2 Sq.ft: 1548 MLS#: 100011639 View More Info

207 8th St.
METICULOUSLY RENOVATED 1FAM

When: Saturday 2/12 & Sunday 2/13 1-3PM

Listing Price: $1,279,000

Bedrooms: 3

Baths: 3

Lot Size: 17x55

MLS#: 110001304

View More Info

Hoboken Real Estate Weekly Market Update

Hoboken Real Estate Weekly Market Update

Week of January 31st - February 6th

Condominiums
Sales:
For the week there were four sales, down from last week. Median list price for the week was $444,000 and the Median Sale Price was $435,750. Median days on market was 72 days. A quiet week for sales however new contracts made up for the lull.

Pending:
For the week there are 14 units pending, up from last week. Median list price for these pending is $474,850. The lowest asking price was $209,900 at 422 Madison - a 700 sq ft one bedroom, and the highest asking was $870,000 at The Hudson Tea for a 1310 sq ft two bedroom.

Hoboken Brownstones and Single Family Homes

Sales: No homes closed this week.

Pending: No homes went under contract for this week. There are a total of just 12 single family homes for sale today in Hoboken.

Hoboken Rentals | Holding On To Good Tenants

Hoboken Rentals Holding On To Good Tenants 

Holding on to Good Tenants

Many property owners have been backed into the role of reluctant landlord in recent years, opting to hold their properties as rentals until the prospects of selling real estate improve. In the present landscape, landlords who have an existing relationship with a tenant who has proven his or herself both fiscally reliable and personally responsible count themselves lucky. Don't get caught in the trap of taking a good tenant for granted. Below are some ways to encourage a favorable tenant to consider extending or re-signing their lease agreement.

Communicate and Strengthen Relationships with Your Tenant

Too often the only interaction a landlord will have with their tenant is during some transactional stage (initial property walk-through, lease signing, move-out inspection, etc.) or when a maintenance/emergency issue arises. This passivity can easily lead to a disconnect between the two parties, as each begins to see each other as just different lines on the monthly rent check. That kind of transactional relationship isn't likely to inspire your tenant with any particular partiality towards you (any more than they would have, say, for their local utility company), and at the same time lends you no insight into the occupants needs or future plans.


While most renters don't want the hassle of an overly nosy landlord (or perish the thought, a landlord who tries to act buddy-buddy with their tenants), tenants will generally appreciate a landlord who periodically checks in to see how things are going. 


Email is a convenient way to touch base with your tenants and is less intrusive then a phone call (never show up in person unannounced). Consider sending your tenant(s) an informal email message every six to eight weeks or so: anything more frequent runs the risk of becoming an annoyance, while checking in only a few times a year is not especially useful for either party.


Keep the tone of these messages friendly, asking if the tenant has had any problems with the unit or needs to suggest any needed or upcoming repairs. By positioning yourself as a helpful owner looking out for the occupant's needs, you will help strengthen the landlord-tenant relationship. If nothing else, a tenant who views you as more than just a bill collector is more likely to give you additional notice if they have decided to move out.

The Going Rate

The value of a good tenant to a landlord is not simply measured by the monthly income generated from rent. The timely payment of rent also provides the landlord with a degree of financial stability, which can be rare in this time of seemingly volatile markets. In addition, responsible tenants serve as dependable stewards of the property itself, avoiding damage and alerting the landlord when repair or maintenance is needed. These factors, in addition to the current rental market, must be taken into account if you are considering any future change to the rental price.


Conventional wisdom tells a landlord to charge market value for rent. But when contemplating a future rent increase, consider whether you are willing to risk losing your current tenant for that potential bump in rent. If your current tenant isn't willing to pay the increased rent, putting the rental back on the market entails built-in costs (cleaning or painting not covered in the damage deposit/rental agreement, plus the inevitable turnaround time that will leave the property vacant). You run the risk of having the property remain vacant for long stretches of time. At best, you may end up renting to a less responsible tenant who causes damage to the property or does not pay rent on time.


Simply put, now is likely not the time to increase rent based on motives of increased profit. If you must increase rent for legitimate reasons related to the property (skyrocketing property tax, for example), do your best to keep the rent increases minimal and provide your current tenant with as much information on why you are making the change as is possible (or prudent).


On the flipside, if you are able to keep the rent at the current rate or are in a position to lower rent to match current market rates (based on all that research you're doing to stay current on rental trends.), make sure to call your altruism to your tenant's attention. To many renters, not having to pay an increase in rent year after year is refreshing. Having rent lowered may feel like a small miracle in their eyes.

Make Timely Repairs

It can be too easy for property owners to view their rental units solely as investments, losing sight of the fact that for the occupants, that space represents their temporary home. 


When problems arise, as they always will, take charge and handle repairs both quickly and effectively. Nothing will erode a renter's confidence in their landlord as much as the poor handling of maintenance issues.


Be prepared for potential problems by keeping a list of recommended repair companies and contractors in the area. Treat all reported issues seriously and communicate frequently with your tenant to fully understand the problem. Most importantly, prove your thoroughness by following up with both the repair crew and your tenant after the problem has been resolved.

Spend on Upgrades

Property owners often will wait until the periods in between tenants to make improvements to the property, in many cases with the intent of charging higher rent for the next round of occupants. 


Landlords who are fortunate to maintain tenants for several years in a row may forgo both smaller and significant enhancements to the home. However, if the overall goal is to keep the property rented to a strong tenant for the most amount of time possible, making gradual improvements that improve the occupant's home life (without causing undue disruption) can make a great deal of sense.


As a landlord, you can't reasonably expect a tenant to put up with any changes or improvements that require major construction or losing use of a room/area for any significant amount of time. But many improvements and enhancements can be made in the period of a single workday with minimal disruption. For example, with the help of a good installer, a kitchen appliance or dishwasher can be replaced while your tenants are at work. 


Smaller-scale upgrades, such as changing out the hardware in a kitchen or bathroom(s), can also go a long ways in improving the atmosphere for your renters. If you've established good communication with your renters, you may even consider asking them which areas of the home or appliances they feel need improvement.

Incentivize

If the rental market surrounding your property is dire enough that the loss of your current tenant almost certainly will result in a long stretch of vacancy, you may consider offering the current occupants significant incentives in order to sign a new lease. You may go as far as offering a month's free rent, pay a specific utility, or pay for the upgrade to a current utility service (such as internet or cable/satellite).


Incentives don't necessarily have to be of a monetary nature, however. If your tenants would be interested, you might consider allowing pets in the property (with or without an additional cleaning deposit) if you did not permit them previously.


 Another option would be to allow tenants to re-paint the interior walls and/or exterior of the home - even going so far as to help furnish paint and supplies. These non-cash incentives can help increase your renter's sense of connection to the property.

Hoboken Brownstones

Hoboken Brownstones

Picture of a Single Family on lovely, tree lined Bloomfield Street.

This one has nice details like the stone and brick contrast facade and stained glass window accents.


For Sale:
There are currently 12 single family homes for sale. Priced from $490,000 for a renovation project on Willow Terrace, up to $2.24 Million for a wide brownstone beauty at 802 Hudson Street offering 5 bedrooms and 3 full and two half baths plus yard and more.

Hummus Bar Opens In Hoboken

Hummus Bar Opens In Hoboken

I'm a girl and yes I love me some hummus. The creamy, savory texture and flavor of hummus is something I love and never get sick of!

Yes! Hummus is open! I was headed to Benny's for a slice of pizza when I saw the doors were open to Hummus and -- that was easy! In we went and found a nice menu of Mediterranean goodies from pitas to hummus variation platters, salads and apps.

I went with a Cornish Hen Pita and at their bar I got to choose as many toppings as I wanted even avocado salad for no extra $$. My husband chose a hummus platter and I have to say both were so incredibly delicious, we were very happy.

Behind the bar is an open fridge with beverages and a lovely little selection of desserts. We tried the berry creme brulee and it was fantastic! I'm not sure if they're homemade or brought from somewhere off site but it was yummy!! And it comes in an adorable little glass container that you can reuse at home.

As a real estate agent I am constantly on the go eating my share of take out meals, it's nice to see a healthy fast food option instead of the cheesesteaks and wings and bbq joints.

Hummus is located on Washington Street between 5th and 6th streets.

630 Washington Street
www.orderhummusbar.com

Hoboken Real Estate | Market Sales Weekly Update

Hoboken Real Estate Market Sales Weekly Update

Week of January 24th - 30th

Condominium Sales:
For the week there were 9 sales. From the lowest of $265,000 for a 620 square foot one bedroom, to the highest, 1.6Million for a 3 bedroom two and a half bath, 2000 square foot condo at Maxwell Place.

Median list price for the week was $429,900. Median sale price for the week was $402,000. Median days on market is 63 days.

Pending Units:
For the week there are 11 units under contract. Up from last week. From the lowest, a 749 square foot one bedroom at 535 Bloomfield with a list price of $285,000, to the highest, a 1675 square foot two bedroom two bath at Metro Stop with a list price of $820,000.

Median list price for the week is $499,000. Median days on market is 22 days.


Brownstones and Single Family 
Sales: One home sold. 839 Bloomfield, a beautiful 5 bedroom 3 bath Brownstone with a list price of $1.199Million, sold ABOVE asking, at $1.2Million.

Pending: No homes are pending for this week.
(However there are four brownstones waiting to close)

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