Important Changes To The Mortgage Process TILA-RESPA - What This Means For You

The mortgage process has been changed!!

 The changes should make it easier for buyers to compare mortgage products between companies and will also clearly lay out all fees.

Buyers will now receive a Loan Estimate Form which spells out the terms of the potential loan, including interest, rate, fixed versus adjustable etc, and whether these numbers can change. It will also breakdown your estimated closing costs.

Another major change is that your closing disclosure statement now has to be given to buyers at least three days before the closing. This ensures that on the day of the closing - nothing can change.

This also means that no final adjustments can be made with the seller. An important side note as walk thru's in Hoboken/JC and my market area typically have been done on the morning of the closing.

Agents, buyers and sellers, will need to get used to doing this final inspection a week before the closing which could mean that sellers will need to move out the property earlier so that the inspection can be done.

Here is a CNNMONEY article outlining the changes along with links to the forms so you can see what they look like.

Questions? Comment below!

Happy Labor Day Weekend From Karina Abad

Did you know? 
The first Labor Day Holiday was officially celebrated in New York City on September 5th, 1882. 

According to the United States Dept Of Labor Website on "The History Of Labor Day" The form that the observance and celebration of Labor Day should take was outlined in the first proposal of the holiday — a street parade to exhibit to the public "the strength and esprit de corps of the trade and labor organizations" of the community, followed by a festival for the recreation and amusement of the workers and their families.

Here's to you 'American Worker'! 

Pool Much? Condo Buildings In Hoboken NJ With POOLS

This July has been hot hot hot! Personally I love the heat, but I always envy my clients a little that post pics of themselves poolside -- especially when they're home.

Here's a list (in case you had "pool" on your list of  must have's!) of condo buildings in Hoboken with swimming pools.

1115 Willow Ave
In addition to an in ground outdoor pool, the building also has a courtyard and bbq area, elevators, along with a fully equipped gym and laundry room. It's located across the street from Wallace school, has 1,2,3 & 4 bedroom condo's but no parking.

The Pool @1115 Willow

222 Grand Street

A factory converted residences, the building features an outdoor in ground pool right in the main entrance area which is secured by a large wrought iron gate with a really cool lion crest on it. Not sure the significance of it. The building offers 1, 2 and 3 bedroom units, some are duplexes and have private roof top terraces. Elevator building with laundry room, no parking.

1025, 1125, and 1100 Maxwell Lane

A Toll Brothers building, Maxwell Place currently made up of three addresses. With a 4th coming soon. The building offers the city's currently largest amenity package with doormen/concierge, on site garage parking, shuttle service to the PATH, gym, theatre, residents lounge with a fully equipped kitchen set up for private parties and entertaining, game room, private exercise rooms, children's area, outdoor bbq area and sun decks, outdoor pool and hot tub. Plus they offer an outdoor children play area, a "beach", dog run and large lawn. Maxwell Place offers studios to 4 bedrooms and exclusive multi level townhouse units with private street entrance. 

The Pool @Maxwell Place

2 Constitution Court
A luxury doorman building on the northern waterfront section of Hoboken. Constitution Court offers 1, 2, 3 & 4 bedroom units, most with terraces plus elevators, gym, rooftop patio, and garage and pool is available for a fee.

107 Jackson Street
A very small building with only large 2 bedroom 2 bath units. For a small building they punch in extras like private elevators and the building shares with its residences an outdoor heated pool, outdoor shower, bbq area, outdoor kitchen and cabana set up. They also share parking.

The Sun Deck @Sky Club's Gym, Currently Sky Fitness

700 1st Street
The Sky Club is a large elevator building with full time doorman. They have studios, 1, 2, 3 and some converted 4 bedroom residences. The building has a community room and outdoor play area, plus complimentary shuttle service to the PATH. A large luxury full service gym is connected to the building with a spectacular pool however you have to pay extra for the gym and for parking.


208-210 Jackson Street
Very similar to 107 Jackson. In fact they might even be the same developer. 2 bedroom 2 bath units, with private keyed elevator, shared parking, an outdoor in ground heated pool, plus a cabana room with kitchen, and outdoor bbq area.


Now that you have the full list of pools in Hoboken (excluding rental buildings) maybe you want to keep an eye out for these addresses when they pop up for sale! Or email me and I'll send you a list of what's available :) Karinaabadrealestate@gmail.com

3 Bedroom Condos For Sale In Hoboken NJ | NJ Luxury Condos

Are you looking for a 3 bedroom condo in Hoboken NJ? From a smaller three bedroom duplex to an oversized luxury property here is a full list of 32 properties available as of today.

Finding a three bedroom home is a challenge as inventory is typically steep but the competition is thick. Everyone seems to want to upgrade to a larger condo these days. More couples are starting families and also deciding to expand their families, while some are downsizing from mega mansions in the NJ suburbs but still want a spacious 3 bedroom even by Hoboken standards.

I've compiled a list for you to browse. You'll see the address, ask price, taxes and maintenance as well as a description. It will also tell you if parking comes with the unit.

I can schedule a private viewing for you, simply email me at karinaabadrealestate@gmail.com .






*The properties listed are not necessarily listed by me or by KW. They are from the Hudson County MLS in which all brokerages market their listings. Information deemed reliable but not guaranteed. 

Happy July 4th! Where to Watch Fireworks In Hudson County NJ And The Jersey Shore!

Happy July 4th Weekend!

Happy Birthday America! Have a Safe and Fun Filled July 4th Weekend! Here's a list of where you can catch some fireworks! I've included Monmouth and Hudson County's for quick Jersey Shore Points and local fun! BUT For the complete all of New Jersey nj.com list click here.  HUDSON COUNTY BAYONNE: The celebration will be on Thursday, July 2 at DiDomenico 16th Street Park. The Blue Dawg Band will perform at 7 pm and fireworks will begin around 9 pm. JERSEY CITY: The Jersey City Freedom and Fireworks Festival is free and takes place on Saturday, July 4 from noon to 10 pm. The day includes food vendors, live entertainment and magicians. The event is at Liberty State Park, and fireworks conclude the night. SECAUCUS: Events on Thursday, July 2 include amusements and entertainment at the Secaucus Municipal Swim Complex. The event runs from 5 pm – 9 pm with fireworks at the conclusion of the night.   MONMOUTH COUNTY ABERDEEN: Mayor's Trophy softball game followed by doo-wop and car show at Guisti Park and concluding with fireworks, July 2, 6:30 p.m. Fireman's Field, Lloyd Road and Gaston Street. aberdeennj.org, 732-583-4200. ASBURY PARK: fireworks, July 4, 9 p.m. Asbury Park Beach, Boardwalk at Asbury Avenue. asburyparkchamber.com, 732-775-2100. ATLANTIC HIGHLANDS: Fireman's Festival with rides, vendors, amusements, fireworks Friday beginning at dusk, June 30-July 4, 6-10 p.m. Municipal Harbor, First Avenue. atlantichighlands.org, 732-291-1444. BRADLEY BEACH: fireworks, July 3, 9 p.m. Brinley Avenue Beach, Ocean Avenue. bradleybeachonline.com, 732-776-2999. FREEHOLD: activities, concert by Eddie Testa and fireworks, July 2, 5:30 p.m. Freehold Raceway, Park Avenue. freeholdboroughnj.gov, 732-462-3800. HAZLET: fireworks at dusk, July 5, 9 p.m. Veterans Memorial Park, Union Avenue. hazlettwp.org, 732-739-0653. HOLMDEL: re-creation of Independence Day as it was celebrated in the 1890s, with music, games, contests and picnic food, July 4, noon-3 p.m. Historic Longstreet Farm, 44 Longstreet Road. 732-946-3758. KEANSBURG: fireworks at dusk, July 3-4, 9 p.m. Keansburg Amusement Park, 275 Beachway Ave. keansburgamusementpark.com, 732-495-1400. LONG BRANCH: vendors, music, exhibits and food between Seven Presidents Park and Ocean Place Resort and Spa, concluding with fireworks, July 4, 10 a.m.-10 p.m. Long Branch Oceanfront Promenade, Ocean Boulevard. longbranchchamber.org, 732-923-2044. MANALAPAN  "Over Here, Molly Pitcher: Stories of a Woman of the Army in the American Revolution" dramatic storytelling presentation, hands-on cannon drill, fife and drum music, walking tour of battlefield, Continental soldier demonstrations, noon-4 p.m. July 5, Monmouth Battlefield State Park, 16 Route 33. friendsofmonmouth.org, 732-462-9616. MANASQUAN: decorated bicycle contest at the Little League field followed by a parade beginning at the Coast Guard Station and traveling to Whiting beach and Main Beach, with concert by Billy Lawlor and concluding with fireworks at dusk, July 3, 5:30 p.m. Manasquan Beachfront, First Avenue. manasquan-nj.com, 732-223-0544. OCEAN: music and food with fireworks at dusk, July 3, 6-10 p.m. Joe Palaia Park, Deal and Whalepond Roads. 732-531-5000. OCEAN GROVE: parade on Whitefield Avenue and proceeding east along Main Avenue to Central Avenue, then north toward Ocean Pathway and east again, ending along Ocean Avenue, July 4, 10:30 a.m. Downtown Ocean Grove, Main Avenue. oceangrovenj.com, 732-774-1391. Organ recital by Gorden Turk, July 4, noon. Great Auditorium, 54 Pilgrim Pathway. oceangrove.org, 732-775-0035. Ocean Grove Summer Band, free Independence Day concert, July 4, 8 p.m. Great Auditorium, 54 Pilgrim Pathway. oceangrove.org, 800-590-4064. OCEANPORT: "Red, White and Blue" party with live music, game pit, eating competitions and giveaways, July 4, noon. Monmouth Park Racetrack, Oceanport Avenue. monmouthpark.com, 732-222-5100. UNION BEACH: fireworks, July 3, 9 p.m. Union Beach, Beachfront. unionbeach.net, 732-264-2277. WALL: Wall Fair, rides, parade, car show, with fireworks at dusk on Sunday, June 28, 5-10 p.m. Firecracker 5 Race, July 4, 8:35 a.m. $25-$30. Wall Muncipal Complex, 2700 Allaire Road. wallnj.com, 732-449-8444. WEST LONG BRANCH: fireworks with music by Jersey Jukebox, July 4, 9 p.m. Franklin Lake Park, Locust Avenue. westlongbranch.org, 732-229-1756.

Five Things You Should Bring To Your Home Inspection | Hoboken Jersey City Home Inspectors & Inspections

Attorney review concluded? Check.

Deposit sent out?  Check.

Mortgage Application Started?  Check.

Instagram @Karinaabad

You then got recommendations for a licensed home inspector from your real estate agent, your friends or family that had a great experience in town, or you searched for one through the American Society of Home Inspectors.


So you scheduled your Hoboken or Jersey City home inspection! (Read my post about what to expect at your actual home inspection.)

Most buyer's don't know that typically once you are in contract, you are not able to go back to the property besides the home inspection, and not again until the day of your close and final walk thru.

So, being the home buyer pro that you are (YEAH!) here are 4 things 5 that you will bring to your home inspection.

1. The Home Inspector - OK, sorry this one is obvious but I needed five it just sounds better ;)


2. Friends and Family! Do your parents want to see the apt to make sure you didn't buy a dump? Are your friends dying to see if there is enough space for them to crash? Bring them to the inspection!!


3. Measuring Tape - Yes, get those measurements so you can plan for furniture and DON'T forget to measure the doorways of the unit, the entrance to building, any narrow corridors, and the elevator just. in. case.


4. Camera - What color was the bathroom again? Were there blinds in the kitchen window?? Take a picture and hashtag it


5. Contractor - If you are planning on installing, removing, fixing or painting anything -- schedule your contractor to show up at your home inspection, but, please be sure to let the agent know in advance. Also try to have them show up at the beginning of the inspection, this way you don't have to keep anyone longer than the length of the inspection.


There is nothing better than being well prepared and organized during a home purchase or sale for that matter. It will minimize the stress in an already stressful and unnerving process for some!!

Check out my 10 Red Flags for home buyers. Like my list? Anything missing? Leave a comment below!

Hoboken New Jersey Top 10 Priciest Real Estate | Luxury Hoboken Condo's For Sale

There is no doubt football star Eli Manning's Hoboken luxury condo for sale made this top ten list. But the other 9 sure are sexy! And there is one surprising new comer to the multi million dollar condo list.

Hoboken's The Sky Club condo building sale price averages are around $550,000 in comparison to the current $1.999 Million dollar price tag for the sprawling 6 bedroom home.

Other frequent members to the V.I.P. list of Hoboken NJ priciest condo's are the international W Hotel brand at the W Hotel Hoboken and of course, Toll Brothers Maxwell Place with one special and rarely available townhouse with direct walk up access and spectacular views.

So which one would you choose from the list if you had the money? Would you live in one of these homes or would you live somewhere else? 

Don't forget to leave a comment below! 

Eli Manning Puts His Incredibly Lavish Condo Up For Sale In Hoboken

The Hudson Tea is a historic landmark in Hoboken, New Jersey. It is also one of the most unique and luxurious residence buildings in Hoboken and has been home to several celebrities over.

Indisputably the biggest celebrity to live here is football giant superstar Quarterback Eli Manning of the NY Giants.

He has a reputation of being laid back and very nice to his local neighbors that run into him on occasion whether in the building or in town.

He purchased not one, but three real estate condo's at the Hudson Tea connecting them all to make a one of a kind, 3,555 sq foot mansion (by condo standards) outfitted with gorgeous interior finishes and furnishings as you can see here.

It was listed for sale just before Memorial Day Weekend by Douglas Elliman of NJ real estate firm. Apparently, it appears the Manning's are in no rush to sell suggested by their listing contract of one year. So if you're thinking you're going to low ball his $5.2Million dollar price tag - you might have a better chance at kicking a third game winning field goal in overtime. -- Just sayin.




Can't get enough of multi million dollar condo's in Hoboken? Here are Hoboken's Top Ten priciest Condo's.

Hoboken and Downtown Jersey City Real Estate Video Market Recap

Thought I'd change it up a bit!

Downtown Jersey City Market Snapshot | Condo Real Estate Sales Recap

For the month of May, downtown Jersey City closed a total of 44 condominium units. Their total Median List Price was $642,444 and their Median Sold Price was $651,500. Their total time on market - Median Days on Market - was just 15 days.

In April, DTJC closed 46 units by comparison and a Median Sold Price of $715,500 - with more luxury sales reported than the month of May.

There are a total of just 92 units available for sale, leaving downtown Jersey City with a current absorption rate of a little over 2 months.

This indicates a sellers market, as at the current pace of sales and low level of inventory, it would just take 2.5 months for all of the units to sell if no other units became available.

Any questions? Email me! And don't forget to leave a comment below!

Hoboken Condo Market Statistics April 2015

For the month of April, Hoboken saw a total of 88 condo sell.

Their Median List Price was $568,388 and the Median Sold Price was higher, at $577,388. This is continuing with the trend in March, where the Median List Price was $549,000 and the Median Sold Price was also higher, at $565,000.

The Median Days on Market was 12 days in April for Hoboken condos.

For the same month of April, there were another 115 units change their status to either DABO or UNDER CONTRACT - which both means they were taken off the market and an offer accepted by the seller. The Median List Price for these pending, are sharply higher than the Median Sold Price of April - at $619,000. We'll know next month the SOLD PRICE stats for these pending.


In a market like this it is important to have a knowledgeable real estate agent working for you. They can get the inside scoop to find properties for sale, make the appointment to get you in on time, and help you develop a strategy for an offer.

Happy house hunting!

Q1 Downtown Jersey City Real Estate Sales Update

First quarter downtown Jersey City Real Estate Sales Update

Let's just jump right in to the numbers!!

First Quarter (Q1) 2015
118 Condominium units closed with a Median Sale Price of $559,000 and a Median Days on Market of 29 days (about a week longer than 2014 Q4) which is an 11.4% increase from the same quarter 2014.

Q4 2014 closed 156 condominium units with a Median Sale Price of $562,500 and a Median Days On Market of 18 days.


There are currently 111 Units waiting to close with a Median List Price of $598,000 which is 6% higher than the Median List Price of all the units that sold in the first quarter of 2015.

I tell all of my buyers to expect prices to go up between 5% and sometimes even 10% in the Spring market. This is due largely in part to simple supply and demand.  More buyers look to purchase in the Spring than any other time of the year.

Q1 Sales Report | Hoboken Condo Real Estate Sales

Q1 Hoboken Condo Real Estate Sales Report

March went out like a lion..

The climate of real estate sales in Hoboken New Jersey has not shifted much since last year continuing with the charge of buyers looking to purchase.

Although first Quarter 2015 ended with 152 Sales, (98 sales less than Q4 2014) and a Median Sale Price of $560,000 , --- we know that historically Q1 posts the lowest sale numbers as winter is generally the slowest time of the year for real estate sales.

Year over year, Q1 2015 sales appreciated 3% vs the same quarter in 2014.

Fourth Quarter 2014 ended with an increase in sales prices of 9.2% vs Fourth Quarter of 2013.

Median Sale Price was higher than the Median List Price meaning that for the most part units are trading at their full asking price.

Spring came in like a lamb  

PENDING

There are a whopping 233 units waiting to close. The Median List Price for all pending is $579,000 and the median days on market is 12 days - which is a week less than previous days on market. 

PATH Train Will Continue Running Service At Night

The PATH train with service to and from New York to Hoboken and Jersey City will continue running it's overnight service after the controversial proposal to cut service was announced last week.

In a statement released today on the Hoboken City's website - Mayor Zimmer said this:

On January 14, 2014, Senate President Steve Sweeney and Assembly Speaker Vincent Prieto announced that they had secured a commitment from Port Authority Chairman John Degnan to indefinitely table plans to eliminate overnight PATH service.

“I thank Chairman Degnan for listening to our voices and for taking the idea of PATH overnight service cuts off the table,” said Mayor Dawn Zimmer. “With 56% of Hoboken residents using public transportation to commute each day – the highest rate not just in the state, but in the nation – the success of our community and region is intrinsically linked to a robust mass transit system. Going forward, we should be focused on ideas to expand, not cut public transportation options within our region.”

Phew that was close! Certainly shutting down overnight service could have been detrimental to the economic health of both sides of the river. So glad that this potential crisis was averted and quickly! PATH goer's rejoice!