3 Reasons To Buy A Home in The Winter

3 Reasons to Buy A Home in The Winter

Winter, traditionally is the slowest season in real estate.  Less people move during the cold months, what with holidays and children still in the school year, it's no wonder most people move in the Spring. 

But winter can be a perfect time to score a home if you can be flexible and bear the cold for the big move.

Here are my Top 3 Reasons to Buy A Home in The Winter!

1- Seller must sell!
- If a home is for sale during December, January or February - then it is very likely that that seller HAS to sell. Again, most people don't want to move in the winter, and showing a home during the holidays is a huge inconvenience, so if you see a home for sale during these months - then you may just have found yourself a motivated seller.   1 Point for you!

2- Less Competition!
- Buyer's don't want to shlep around when its snowing to look at homes. They'd rather stay home on the weekends watching football where it's warm. Unless your market has a very small inventory of homes,  you'll be in a better position to negotiate with less buyer competition threatening your home flow. (Hashtag anyone?)  Another point for you!


3- Vendor Discounts!
- Did you hear me say less people move in the winter? Well that means that there is less work in the winter for vendors-- especially contractor type workers. This is a great time of year to get your home improvement work done. Painting, refinishing floors, installing granite, upgrading appliances, theatre systems.. you name it! Most vendors will give you a great price to keep them busy when they are their slowest. You'll develop a relationship with your vendors and they can do good work for you because they won't be split between multiple jobs.  Hip hip hey hey hey - another win for you!!

I hope my 3 reasons to buy a home this winter helped open your mind to the idea of moving when the weather gets tough --- the tough get moving!

Hamilton Park Food Festival this Saturday! Jersey City Festival

The annual Hamilton Park BBQ festival is this Saturday the 27th in Jersey City, at 232 Pavonia Ave. The festival will showcase NJ BBQ eateries and staples such as ribs and pulled pork,  and more,  plus activities for kids and live musical performances by The Jeremy Wallace Trio and others! (Sunday the 28th is neighbor Hoboken's annual music and food festival). 

As reported by nj.com click here to be directed to their page for their full story.

"The Hamilton Park BBQ Festival was created five years ago as the annual fundraiser for the Hamilton Park Conservancy," said Susan Firth, director of community relations for SILVERMAN and an organizer of the festival.

The festival, which begins at noon, will include GP's Restaurant, Union Republic, Dinosaur Bar-B-Cue, Pennsylvania Jimmy's BBQ, Delaney Barbecue of Brooklyn, Ben's BBQ & Catering of Newark and Jersey City ice cream parlor Milk Sugar Love.

Children's activities will include a bouncy castle, face painting, games, and arts and crafts from "Not Yo Mama's Craft Fair." Attendees will also have a chance to test their skills on a mechanical bull.

A great weekend to get out and visit Jersey City and then on Sunday visit Hoboken for their food and music festival! 

10 Red Flags For Home Buyers | Jersey City | Hoboken

Red Flags for Homebuyers, Jersey City, Hoboken and anywhere!

Home buying season is upon us, and while some buyers get caught up in the emotions of finding their new home, an important part of buying a home is paying attention to red flags. Red flags are those items that could potentially cost you a lot in the future, or even in the beginning - essentially, warnings of a danger or a problem. According to HouseMaster, a major home inspection company with offices in the United States and Canada, 40 percent of previously owned homes have at least one serious defect (housemaster.com). Provided is a list of items and things to consider or avoid when looking for your next home.


1. You're also buying a neighborhood:

Neighborhoods are a vital part of the home buying process - make sure you visit at different times of the day to get a true sense of the neighborhood. Also, consider trends when looking for your next home. Does the neighborhood have an HOA? Are the homes in need of repair? Is the neighborhood going down rather than up-and-coming? What is local crime like? A neighborhood can be the most obvious red flag for a buyer.

2. Fixers:

Fixers can be great deals, but it's important to know how much you're getting into when you buy a fixer upper. Do you have a comfortable level with renovations? Are renovations going to make the purchase not economical? Will they break your bank? If a fixer will cost you more in renovations than your budget can handle, or go above what the home is worth, it's a potential red flag. Always get a good home inspector and local contractor in to give you realistic budgets and timelines.


3. Issues with a Home Inspection:

A home inspection is not required to buy a house, but it is recommended, as an inspection can shed light on potential red flags. All offers should be contingent upon a satisfactory home inspection - if there are issues, you can potentially negotiate with the seller.


4. Additions and Decks:

Are there additions to the home or property? Do they look like a DIY job? Any work should be done to code, especially when it comes to remodeling. Additions that are not done to code can be expensive to fix, and they can potentially lower the value of the home. If work has been done, you can contact the county or city for work permits and check if the city tax records match what the seller claims. If a home has a deck, ask the seller who built the deck and when it was built. Decks are notorious for being costly to fix or repair, and there's potential that it will have to be rebuilt to be fully safe. An unsafe deck, or one that just doesn't look right, is a red flag.




5. Noticeable Structural Problems:

Always check doors and windows to make sure they open and close without issue, as they can be indicators of structural issues below the house. Foundation issues can be very expensive; look for large, noticeable cracks on the outside of the house and any cracks in concrete floors where the sides are not even. Foundation fixes generally cost thousands to fix - unless you have a large budget for repair work, avoid this big red flag.


6. Pest and Termite Damage:

Pest damage to homes can be very costly. If the pests have chewed into any studs, the structure of the home is compromised and can be expensive to fix. If a home has been inspected and treated for pests in the past, the seller needs to disclose this to a buyer. Some pest issues will return without proper treatment and management; be sure to ask the seller if they have had pest issues in the past.

7. Water Damage:

When walking through a property, look for moisture or water stains. With a proper home inspection, the inspector will look for potential water issues. Moisture and water can be signs of drainage issues and can lead to some very expensive fixes. Water issues are a huge red flag when it comes to finding a home - they can affect the foundation, structure, roof, and a number of other areas in a house.

8. Faulty Electric and Old Wiring:

Is the home an older home with outdated electrical? Be very wary of a home with faulty or inferior electrical work. Older homes with outdated electrical cannot handle additional electrical work that builds up over the years, and knob and tube wiring or aluminum wiring found in older homes can be  costly to replace or repair.

9. Asbestos:

Asbestos was used as an inexpensive fire-retardant material from the 1940s through the 1970s. We now know that asbestos can be extremely detrimental to lung health. Asbestos was used in blown-in attic insulation, vinyl floor tiles, some glues and linoleum, window caulking and glazing, roofing material, HVAC duct insulation, siding material, plaster, fiber cement siding, some forms of paint, and thermal insulation on basement boilers and pipes. Asbestos is as much a red flag as mold.

10. Mold:

Mold is a part of the natural environment, and molds begin growing indoors when mold spores land on surfaces that are wet. Molds are a health hazard to humans; some molds produce mycotoxins - toxic compounds - that can lead to neurological problems or worse. Both asbestos and mold are huge red flags when found in a home, not only for health reasons, but also both are notorious for being extremely costly to eliminate. Asbestos and mold are two issues that should always be addressed by trained professionals to insure the issues have been properly treated and disposed of.

Buying a home is a huge investment, make sure you hire a professional real estate agent with experience to help navigate the waters, and hire a professional, licensed and reputable home inspector. And remember, even new construction can have things come up in the future - you just never know. So while some homes may seem like potential money pits, its also true that older homes are extremely well built. Take everything into consideration and hopefully your scrutiny will pay off by giving you a home to enjoy for years to come.

Make A Great First Impression with A Punch Of Color | Front Doors!

You always hear the term curb appeal. But what does that mean? Simply, it means that when someone walks by or drives by a property, it looks great from the outside. Think of it as a fabulous coat and someone wants to see the whole ensemble.


I found some great ideas for doors. Yes doors. Why doors? Glad you asked! Because in Hoboken and Jersey City, where I sell real estate, you don't really get a chance at curb appeal. All you have is your door. So what better way to make a statement than to punch it up with some great color.

Pink is so unexpected yet it can be chic or sweet. And so many different shades to choose from! I LOVE this door

When choosing a color for your door, think of ways to accent it with either plants or a beautiful door knocker.

And don't under estimate the power of Red. Red looks amazing on almost any brownstone or home. 

What do you think about blue? I think its so elegant here tied in with green - perfection!

And last but not least - this tiffany esque green  is to die for 

What do you think? Now that you see these would you splash up your front door? Please don't forget to comment below! 

New Listing 85 Jefferson St | Adorable Starter One Bedroom Downtown Hoboken

First Look Marketing! Announcing my new listing - an adorable starter one bedroom in downtown Hoboken 85 Jefferson Street

This condo unit is oozing with Hoboken charm. Located at 85 Jefferson St, it is walking distance to the PATH train, the light rail and the NYC bus stop! A commuters dream. Unit is on the first floor and has those beautiful flower window gates. 

Attractively priced at $299,000 with low taxes and low maintenance fees this is an excellent alternative to renting or can be a nice investment.

Some nice features include high ceilings and newly refinished hardwood floors

Track lighting and an open layout

Spacious living and bedroom area

Beautiful common outdoor yard and laundry on site

Public open house September 6th and 7th from 12:30-2:30!

If you are interested in scheduling a private viewing to see this one bedroom condo at 85 Jefferson St in Hoboken please contact me at Karinaabadrealestate@gmail.com or 201-355-6171

10 Tips for Preparing a Home For Sale

1. Paint

When it comes to interior paint -- big, bold, bright colors might work for your current design scheme, but when buyers walk through a home, and the main living space is four different colors, it's likely all they'll see is dollar signs and time spent repainting.







2. Landscaping:

Landscaping can make or break a home sale, or turn it into a long, laborious process. When thinking of landscaping, consider the plants or trees before anything gets planted -- trees and roots can wreak havoc with lawns, foundations and pipes; take into consideration how large a plant or tree will get and how far the root system will travel over time.



3. The Front Door:

The front door is one of the first things potential buyers see -- a strong and visual front door can leave a great first impression to potential buyers. If the door is broken, doesn't work properly, or is in desperate need of a makeover, a buyer may see these things as weak points and consider offering less.


4. Upgrades:

Don't assume you'll recoup every investment, especially when it comes to large upgrades. Pools are notorious for poor return on investment, as are other large home additions. If you're considering upgrading your home before putting it on the market, look to areas that are sure to make you money: kitchens and bathrooms, if tastefully done, will always add to the value of a house.


5. Fireplaces:

Fireplaces appeal to a large majority of buyers, but changing out the aesthetics of a fireplace can either be a great investment opportunity, or drastically lower a buyer's offer. It's best to take trends into consideration when making updates or changes to a fireplace sometimes painting over exposed brick can be a huge deal breaker for some buyers, especially when a majority of people like exposed brick fireplaces. However, sometimes painting a brick fireplace white can instantly modernize a space.


6. Old Appliances:

Potential buyers look at the appliances in a home to gauge their age and how well they've been taken care of. Appliances play a large part in any home, and if they are old, outdated and no longer working can create hesitations in potential buyers. If it's a classic that still works, don't worry about replacing it; if you can't get the door clean, or the oven temperature doesn't rise above 350 degrees, it's probably time to replace it. There's no need to go all out on the latest and greatest technology either, consult your real estate agent for what is the market standard and go with that.


7. Deep Cleans and Small Stuff:

Most buyers have an eye for the small details of a house. An initial deep clean of the house, and continued maintenance thereafter, shows potential buyers that the house has been maintained. The small details matter: windows and window tracks, light switches, molding, a garbage disposal, tile, grout, sinks, ovens and appliances are all looked at by buyers. Make sure these items are not overlooked when the house goes on the market -- potential buyers will appreciate the time you took to address them.


8. Trends:

Trends can be quite alluring for those looking to dabble in interior decorating. Some buyers like trends, but the majority of buyers look for classic, neutral colors on walls and fixtures. While a chevron pattern may be the perfect accompaniment to your current sofa or bedspread, most buyers will see the pattern, when applied to walls, as a potential paint job. If you're considering listing your house, consider accessorizing with drapes, pillows and some pictures. These are simple ways of adding personality, and buyers will appreciate a neutral color scheme on the walls. You can also increase your value by working with a stager.


9. Hard to Clean Surfaces and Floors:

Buyers always look at the floors and counters in a potential home, and these surfaces can be huge selling points. If the counter tops are stained, hardwood floors scratched up, carpet damaged, or the tile is breaking, consider cleaning or finding a quick replacement. If a solid counter top is stained, a buyer will no doubt see dollar signs. If you have hardwood floors, some products can actually dull the wood over time. If the wood needs a little TLC before the house is listed, consider having the floors buffed.


10. Small Spaces:



Kitchens and bathrooms are undoubtedly some of the biggest selling features of a house or property. If either of these areas is small, consider revamping to make them look larger. A small bathroom with no windows is going to look like a cave if the color scheme is on the darker side. Bigger in a small space is always best -- stick with neutral, light colors to help make the room look larger. Update any light bulbs that are reaching the end of their life; upgrading to a higher wattage or lumen can help enhance a small area too.

Selling a home is a large task, and every seller hopes to make money on their home sale. Prepping your home before a sale will always result in better viewings and interested buyers, and the end result will be a happy seller and an even more excited buyer.

Contact me for more tips for a personal consultation before you ready your home for sale. It can make all the difference.

10 Tips For Preparing Your Home For A Sale

   

Downtown Jersey City Condo Market Update | Market Snapshot by Karina Abad

Downtown Jersey City Condo Market Update a Market Snapshot

140 Bay Street Lofts in Jersey City

Jersey City remains very active with the number of units down from June however the Median Sold Price is actually up 4.7% while the median days on market is up just three days.


July  52 Units Sold                                       June 65 Units Sold
Median List Price  $613,500                        Median List Price  $589,000
Median Sold Price $612,500                       Median Sold Price $585,000
Median D.O.M.     17 Days                         Median D.O.M.     14 Days


There are 76 units under contract in July with a Median List Price of $596,250 and Median Days on Market of 25 Days.

Search for your next Jersey City condo now and don't forget to subscribe so you can receive my monthly market updates!

Hoboken Condo Market Update | Hoboken Market Snapshot by Karina Abad

Hoboken Condo Market Update and Snapshot 

New Listing 662 1st Street Hoboken 

Real Estate has proved to stay competitive even though more inventory entered the market in Spring. The median days on market is up five days from June and median sale price is down 2.7% 

July 100 Units Sold                                    June  109 Units Sold

Median List  Price $550,000                      Median List  Price $550,000

Median Sold Price $539,500                      Median Sold  Price $555,000

Median D.O.M.    19 Days                        Median D.O.M.      14 Days

There are 122 units Under Contract in July with a Median List Price of $542,000 and a Median Days on Market of 20 Days.

Search for your Hoboken Condo now and don't forget to subscribe to view my monthly Hoboken Condo Market Update! 

Logos

New Condo Listing in Hoboken 662 1st St #5B Three Bedroom For Sale

I'm proud to introduce 662 1st Street - Unit 5B a grand Hoboken condo for sale! South Pointe building! New to market - FIRST LOOK BELOW

This beautiful property was newly constructed in 2010 replacing an old tire shop. The builder saw the need for large three bedroom homes, as they are always hard to find in Hoboken, and this five story building is comprised of exclusively three bedrooms.

This penthouse unit is now available at an attractive price of $909,000. Offering 1780 square feet of livable space, three bedrooms and two full baths plus gorgeous finishes throughout.

South Pointe offers above and beyond traditional sound proofing and insulation with extra attention paid to sound proofing by the original developer.

 Gorgeous hardwood floors throughout and exposed HVAC duct work give the space a modern look

 Expansive living room with ample space for a dining table and a bay window

Beautiful kitchen with contrast between the espresso cabinets and white counters

Extra long breakfast bar great for entertaining

Sleek subway style backsplash laid in a brick pattern pop against the stainless steel GE Cafe Series appliances

Extra roomy master bedroom with great wall space for that king size bed

Space efficient lime stone master bath with beautiful counters, clean lines and walk in shower

Spacious walk in closet with closet organization system installed

Generous sized second bedrooms offers blue skies and western exposure

Third bedroom can do double duty as a guest room, office or nursery

A real laundry room and side by side washer and dryer plus storage above

Covered parking space for no hassle travel

If you are interested and would like more information or would like to schedule a private viewing please contact me directly at 201-355-6171 or email me at Karinaabadrealestate@gmail.com

Feel free to stop by my first public open house this Sunday between 12 and 2p.m. 

Hoboken Real Estate Year Condo Report 2013

What a year! My Hoboken real estate 2013 condo report shows huge gains from 2012. Hoboken condo owners can finally breathe.

I can describe the year in one word - COMPETITIVE  
Buyers and their agents had to work harder to buy a home due to multiple bid scenarios and very little inventory. Sellers had the advantage this year and buyer's were forced to pay.


All Hoboken condo sales for 2013 

Median Sale Price was $540,000 UP 14.8% from 2012's Median Sale Price of $470,000
Total Units Sold were 1024 UP 35.9% from 2012's Total Units Sold of 753


Break Down
Studio Market - 24 sales for the year
One Bedroom Market - 330 sales for the year  = $409,000 Median Sale Price
Two Bedroom Market - 553 sales for the year = $580,000 Median Sale Price
Three Bedroom Market - 105 sales for the year = $792,000 Median Sale Price
Four and Five's were the remaining.

The Median Days On Market for all condo sales in Hoboken was just 21 days reflecting the competitive nature of 2013.


2014 Start of the Year Sales

January 2014 shows 49 units sold DOWN from 82 in December. And a Median Sold Price of $504,000 above the Median List Price of $499,000 but slightly down the Median Sold Price of December of $506,000.

It is normal for sales to dip in February but you can see that prices have not been affected much as inventory is still tight and buyers are shopping in these cold months.

What To Expect At Closing and Final Walk Thru | Condominium | Real Estate NJ

Congratulations you made it to close! So what can you expect on the day of your closing? Read on to find out.

"Closing", which is the day you sign all the documentation and take ownership of the property you are purchasing.

BEFORE YOUR CLOSING
Your attorney, either the evening before or the morning of, will alert you as to the final amount that you will owe at closing, which will be due in the form of certified bank funds or you can arrange for a wire transfer. This will be a large amount as it combines the remainder of your down payment and all of your closing costs.

Shortly before your closing you'll want to do a walk thru with your real estate agent, so be sure to schedule this at least a day in advance. Your walk thru, depending on the size of the home and whether repairs needed to be made, can last anywhere from 10-25min.

AT THE WALK THRU
You are there to carefully look over the home for any new possible damage that may have occurred when the sellers moved out, or from the unit being vacant.

You'll also bring with you a list of items that the seller agreed to rectify prior to closing, and check that these items were done. In cases where you are not able to detect whether a repair was completed, schedule in advance for your home inspector to come back in with you to check for you, or ask them if you can call them during the walk thru.

Hopefully all is well and you can head straight to the closing. If there is a problem, alert your real estate agent who will then immediately alert your attorney as to the issue. Usually, the attorney can work out a solution by the time you arrive at your closing. In rare cases where the issue is pertinent, your closing can be stalled until an acceptable agreement is reached.

AT YOUR CLOSING 
A few people may be present:
You
Your attorney
Your real estate agent
The other party (seller)
Seller attorney
Seller real estate agent
Title Company
Mortgage Rep

Your attorney will review with you all of the documents that pertain to your sale or purchase. If you are the buyer, he or she will review with you your entire closing package page by page, usually giving you a summary of what the document you are signing means. If you have any questions be sure to ask, but this paperwork is standard and required by mortgage and government regulators. He or she will also review with you what's called the HUD line by line, so you understand where your money is going (closing costs) and how these figures were calculated.

Your closing will typically last anywhere from 30 to 60min. If a party is late then you can certainly run over, or if there is a problem like issues during the walk thru.

But, let's assume all goes well and you've signed the final page needing your signature. Congratulations! You'll be handed over your keys to your new home and on your way to enjoy.


I hope this gives you some ease and now you know what to expect at a closing and final walk thru!