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!
A Hoboken and Jersey City Real Estate Blog by Karina Abad, realtor at Keller Williams Towne Square. Real estate market news, condos, homes and brownstones, buying and selling tips and local community info.
Showing posts with label Hoboken. Show all posts
Showing posts with label Hoboken. Show all posts
Tuesday, October 6, 2015
Thursday, September 25, 2014
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!
Wednesday, July 24, 2013
Annual Hoboken St Ann's Feast Italian Festival 2013
The annual Hoboken St Ann's Feast is here! Kick off is today starting at 6pm and every night there will be a band on the main stage, directly in front of St Anns church on 7th and Jefferson Street.
Come one come all! Always a great time with kiosks serving Italian American staples expected at festivals like Sausage and Peppers, Pizza, Zeppoles, Clams, And American feast food like Fried Oreos, Hot Dogs, Fruit Blended Shakes and much more.
Some great games for people of all ages and there are always some little artisan tables set up with goodies.
This year make sure you come out and see NY YANKEE STAR BERNIE WILLIAMS performing tomorrow night! AAANNNDD come see the RE/MAX Gold Coast Realty crew at the bar slingin drinks in the St Anns parking lot.
Visit www.St-annchurch.com for more information. Below is the schedule, hope to see you there!!!
Wednesday, July 24th - 6pm - 11pm
Thursday, July 25th - 6pm - 11pm
Friday, July 26th - 1pm - 11pm
________________________________________________________________________________
Come one come all! Always a great time with kiosks serving Italian American staples expected at festivals like Sausage and Peppers, Pizza, Zeppoles, Clams, And American feast food like Fried Oreos, Hot Dogs, Fruit Blended Shakes and much more.
Some great games for people of all ages and there are always some little artisan tables set up with goodies.
This year make sure you come out and see NY YANKEE STAR BERNIE WILLIAMS performing tomorrow night! AAANNNDD come see the RE/MAX Gold Coast Realty crew at the bar slingin drinks in the St Anns parking lot.
Visit www.St-annchurch.com for more information. Below is the schedule, hope to see you there!!!
Festival Dates and Times
Wednesday, July 24th - 6pm - 11pm
Thursday, July 25th - 6pm - 11pm
Friday, July 26th - 1pm - 11pm
Saturday, July 27th - 1pm - 11pm
Sunday, July 28th - 1pm - 11pm
________________________________________________________________________________
FESTIVAL BANDS
Nightly entertainment 8:15 PM
Wednesday July 24
Latino Night
La Caribeña
La Caribeña
Thursday July 25
Benzel-Busch Sponsors
Bernie Williams and his All-Star Band
Bernie Williams and his All-Star Band
Friday July 26
Italian Night
Philip Alongi and Friends
Philip Alongi and Friends
Saturday July 27
Big Daddy Enterprise presents
Lime
Lime
Sunday July 28
The Bronx Wanderers
________________________________________________________________________________
Monday, November 8, 2010
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.
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
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.
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.
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. 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.
Tuesday, October 26, 2010
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones
Hoboken Real Estate Market Weekly Update Condos and Brownstones
Week of Oct 18 - Oct 24
What's Cookin'
Condominium Sales: For the week there were six sales that closed. From the lowest price, a one bedroom at 422 Madison with a list price of $219,000 sold for $212,000; to the highest price, a enormous 3625 sq ft 3 bed 2.5 bath plus deck and garage with a list price of $939,000, sold for $875,000! WOW
Median list price for the week was $415,444. Median sale price was $394,500. Median days on market was 55 days.
Pending Units:
For the week there were 11 units now pending. From the lowest, a one bedroom, 561 sq ft at 309 Monroe with a list price of $234,000 to the highest, a 1820 sq foot duplex loft at 610 Clinton with terrace and parking with a list price of $899,000.
Median list price for the week was $399,000. Median days on market 54 days.
Hoboken Brownstones and Single Family Homes
Sales: Zero
Pending: Zero
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Week of Oct 18 - Oct 24
What's Cookin'
Condominium Sales: For the week there were six sales that closed. From the lowest price, a one bedroom at 422 Madison with a list price of $219,000 sold for $212,000; to the highest price, a enormous 3625 sq ft 3 bed 2.5 bath plus deck and garage with a list price of $939,000, sold for $875,000! WOW
Median list price for the week was $415,444. Median sale price was $394,500. Median days on market was 55 days.
Pending Units:
For the week there were 11 units now pending. From the lowest, a one bedroom, 561 sq ft at 309 Monroe with a list price of $234,000 to the highest, a 1820 sq foot duplex loft at 610 Clinton with terrace and parking with a list price of $899,000.
Median list price for the week was $399,000. Median days on market 54 days.
Hoboken Brownstones and Single Family Homes
Sales: Zero
Pending: Zero
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Sunday, October 24, 2010
Hoboken Open House List | RE/MAX Gold Coast Realty
Hoboken Open House List RE/MAX Gold Coast Realty
Good morning! Beautiful day to visit some open houses. I'll be at 132 Adams Street today.. And while you're out, or after you're done, make sure to stop by 800 Jackson today for some free food by Taco Truck, live music by The Benjamins and a tour of Metro Stop!! Happy Sunday!
Good morning! Beautiful day to visit some open houses. I'll be at 132 Adams Street today.. And while you're out, or after you're done, make sure to stop by 800 Jackson today for some free food by Taco Truck, live music by The Benjamins and a tour of Metro Stop!! Happy Sunday!
800 Jackson St.
SPECIAL BUILDER FINANCE PROGRAM
*NEXT 2 BUYERS ONLY!
When: Saturday 10/23 & Sunday 10/24 1-4PM
Listing Price: 1BR's Starting @ $369,000 /
2BR's Starting @ $525,000
 405 4th St. #1BNEW LISTING! When: Sunday 10/24 2-4PM Listing Price: $359,000 Bedrooms: 1 Baths: 1 |
 132 Adams St. #1EXCELLENT DOWNTOWN! When: Sunday 10/24 1-3PM Listing Price: $385,000 Bedrooms: 2 Baths: 2 |
 CANCELLED!MODERN 2BR DUPLEX! When: Sunday 10/24 1-3PM Listing Price: $419,000 Bedrooms: 2 Baths: 1 |
 600 Hudson St. #1ECOMPLETELY RENOVATED 1BR! When: Sunday 10/24 1-3PM Listing Price: $449,000 Bedrooms: 1 Baths: 1 Sq.ft: 862 MLS#: 100011473View More Info |
 915 Madison St. #5ESUN DRENCHED 2BR/2BA ! When: Saturday 10/23 1-3PM Listing Price: $489,000 Bedrooms: 2 Baths: 2 Sq.ft: 1055 MLS#: 100006036View More Info |
| 1010 Willow Ave. #1  *NEW TO MARKET* When: Saturday 10/23 1-3PM Listing Price: $489,000 View More InfoBedrooms: 2 Baths: 1 Sq.ft: 950 MLS#: 100012236 |
| 215 Monroe St. #1  *1 YR FREE PARKING!* When: Saturday 10/23 & Sunday 10/24 1-3PM Listing Price: $550,000 View More InfoBedrooms: 2 Baths: 2 Sq.ft: 1122 MLS#: 100012963 |
| 517 Adams St.  NEW CONSTRUCTION! 3 UNITS LEFT! When: Sunday 10/24 2-4PM Listing Price: Starting @ $689,000 View More InfoBedrooms: 2-3 Baths: 2-3 Sq.ft: 1548-2775 |
| 812 Grand St. #310  THE HUNTINGTON! PRICE REDUCTION! When: Sunday 10/24 1-3PM Listing Price: $709,900 View More InfoBedrooms: 2+Den Baths: 2 Sq.ft: 1412 MLS#: 100008787 |
1500 Garden St. #2F 
JUST REDUCED! 2BR+DEN!
JUST REDUCED! 2BR+DEN!
When: Saturday 10/23 1-3PM
Listing Price: $1,295,000
View More Info
Bedrooms: 2+
Baths: 2.5
Sq.ft: 1842
MLS#: 100009645
Tuesday, October 19, 2010
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones
Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstones
Week of October 11th 2010
What's Cookin
Hoboken Condominiums
Sales: For the week, there were 13 sales. From the lowest, a 400 sq foot studio at 1026 Washington St with a listing price of $209,600 and a sale price of $185,000. To the highest, a 1450 sq foot three bed two and a half bath condo with terrace and parking on a 3rd floor walk up at 415 Madison with a list price of $609,999 and a sale price of $595,000.
Median List Price for the week was $399,000. Median Sale Price was $360,000. Median days on market, 129 days.
Pending: For the same week, 10 units went under contract status. From the lowest price, a 625 square foot one bedroom at 509 Willow Ave with a list price of $309,000 to the highest price, a 1314 square foot two bedroom two bath with terrace and parking at Maxwell Place - 1025 Maxwell Lane with a list price of $850,000.
Median List Price for pending units was $529,000. Median days on market was 66 days.
Hoboken Brownstones & Single Family Homes
Sales: Zero sales for the week.
Pending: Zero homes are under contract this week.
Compare this week to last week.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Week of October 11th 2010
What's Cookin
Hoboken Condominiums
Sales: For the week, there were 13 sales. From the lowest, a 400 sq foot studio at 1026 Washington St with a listing price of $209,600 and a sale price of $185,000. To the highest, a 1450 sq foot three bed two and a half bath condo with terrace and parking on a 3rd floor walk up at 415 Madison with a list price of $609,999 and a sale price of $595,000. Median List Price for the week was $399,000. Median Sale Price was $360,000. Median days on market, 129 days.
Pending: For the same week, 10 units went under contract status. From the lowest price, a 625 square foot one bedroom at 509 Willow Ave with a list price of $309,000 to the highest price, a 1314 square foot two bedroom two bath with terrace and parking at Maxwell Place - 1025 Maxwell Lane with a list price of $850,000.
Median List Price for pending units was $529,000. Median days on market was 66 days.
Hoboken Brownstones & Single Family Homes
Sales: Zero sales for the week.
Pending: Zero homes are under contract this week.
Compare this week to last week.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Thursday, October 14, 2010
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones
Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstones
Week of 10/4/10/- 10/10/10
What's cookin'
Hoboken Condominiums
Sales:
10 sales closed for the week. From the lowest - and smallest, 725 Washington Street, a 330 square foot studio with a list price of $215,000 and a sale price of $197,500. To the highest, 1125 Maxwell Lane a 1260 square foot two bed two bath, with a list price of $872,995 sold for $845,000. It is unclear whether that sold with parking included.
Median list price for the week was $462,000. Median sale price was $437,500. Median days on market, 62 days.
Pending:
Weird coincidence, for the week there were also 10 pending sales. From the lowest, 214 Jefferson, a 565 one bedroom with a list price of $219,000, to the highest at 1125 Maxwell Lane, a 1622 square foot two bed two bath plus den with a list price of $1.679.
Median list price $484,000 median days on market 76 days.
Hoboken Brownstones & Single Family
Sales: Zero for the week
Pending: Zero for the week
There are currently only 9 single family homes for sale ranging from $525,000 to $1.6M
Information provided by the Hudson County MLS. Deemed reliable but not guaranteed
Week of 10/4/10/- 10/10/10
What's cookin'
Hoboken Condominiums
Sales:
10 sales closed for the week. From the lowest - and smallest, 725 Washington Street, a 330 square foot studio with a list price of $215,000 and a sale price of $197,500. To the highest, 1125 Maxwell Lane a 1260 square foot two bed two bath, with a list price of $872,995 sold for $845,000. It is unclear whether that sold with parking included.
Median list price for the week was $462,000. Median sale price was $437,500. Median days on market, 62 days.
Pending:
Weird coincidence, for the week there were also 10 pending sales. From the lowest, 214 Jefferson, a 565 one bedroom with a list price of $219,000, to the highest at 1125 Maxwell Lane, a 1622 square foot two bed two bath plus den with a list price of $1.679.
Median list price $484,000 median days on market 76 days.
Hoboken Brownstones & Single Family
Sales: Zero for the week
Pending: Zero for the week
There are currently only 9 single family homes for sale ranging from $525,000 to $1.6M
Information provided by the Hudson County MLS. Deemed reliable but not guaranteed
Monday, October 4, 2010
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones | September Report
Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstones - September Report
Where is the market trending? We will take a look back to see. Let's start first with a look at September.
September was the final month of the home buyer tax credit. Eligible buyers had to close by September 30th to recieve a tax credit. If you follow my real estate reports, you might remember that June was the biggest month in sales. 124 sales were reported for that month showing that the tax incentive was working and brought some buyers to the table skewing the sales for summer.
Now, let's look back at past months.
June: 124 Sales
Median List Price $483,250Median Sale Price $473,000
July: 53 Sales
Median List Price $509,000
Median Sale Price $502,000
August: 58 Sales
Median List Price $458,700
Median Sale Price $438,100 -
September: 47 Sales
Median List Price $461,500
Median Sale Price $438,000
Sales seem to be trending downward..
Current total active condominiums in Hoboken ritht now, is 486 condominiums. We are currently selling about 10% a month of our standing inventory. If no new homes came on the market, our absorption rate is 9.72 OR 10 months. A healthy market has an absorption rate of around 6-8 months.
Let's look back a little further to one year ago. 2009
June: 46 Sales
Median Sale Price $493,500 Compared To June 2010 $473,000
Where is the market trending? We will take a look back to see. Let's start first with a look at September.
September:
For the month there were 50 sales that closed. Of those 50 median list price was $461,500 and the median sale price is $438,000. Median days on market was 73 days.
For the month there were 50 sales that closed. Of those 50 median list price was $461,500 and the median sale price is $438,000. Median days on market was 73 days.
51 Units are under contract for the month. Of those 51 the median list price was $475,000 and median days on market 72 days.
September was the final month of the home buyer tax credit. Eligible buyers had to close by September 30th to recieve a tax credit. If you follow my real estate reports, you might remember that June was the biggest month in sales. 124 sales were reported for that month showing that the tax incentive was working and brought some buyers to the table skewing the sales for summer.
Now, let's look back at past months.
June: 124 Sales
Median List Price $483,250July: 53 Sales
Median List Price $509,000
Median Sale Price $502,000
August: 58 Sales
Median List Price $458,700
Median Sale Price $438,100 -
September: 47 Sales
Median List Price $461,500
Median Sale Price $438,000
Sales seem to be trending downward..
Current total active condominiums in Hoboken ritht now, is 486 condominiums. We are currently selling about 10% a month of our standing inventory. If no new homes came on the market, our absorption rate is 9.72 OR 10 months. A healthy market has an absorption rate of around 6-8 months.
Let's look back a little further to one year ago. 2009
June: 46 Sales
Median Sale Price $493,500 Compared To June 2010 $473,000
July: 62 Sales
Median Sale Price $469,950 Compared To July 2010 $502,000
August: 67 Sales
Median Sale Price $463,000 Compared to Aug 2010 $438,100
September: 76 Sales
Median Sale Price $499,000 Compared to Sept 2010 $438,000
From one year ago sale pace and prices are slower. This could be due to the buyer tax credit which prompted sellers to act with price reductions in time to capture those buyers. The dip in sales of September can also be contributed to the tax credit since many buyers took advantage of the incentive and bought ahead of schedule. These buyers would have bought in the warmer months making September numbers a bit higher.
If October 2009 is any indication of how this October may look, last year there were 80 sales for the month.
And taking a look back to 2008 of September - there were 66 sales and the median Sold price was $510,000. From 2008 real estate sales prices are down about 14%
Thursday, September 30, 2010
There May Be No Such Thing As The Perfect Hoboken Condo
There May Be No Such Thing As The Perfect Hoboken Condo
Shopping for a condominium is exciting. Looking at other people's home's is fun I'll admit. But when it turns into a sport more so than a goal then you may be searching for something that doesn't exist. Remember, almost never does someone find a "perfect home".
Here are my tips when searching for a home.
1. Make a wish list
2. Visit some open houses
Before you view condo's with your real estate agent, take one or two Sundays to yourself to look at some open houses with whomever you are buying with, say your spouse or partner, or if you're buying for yourself, then take your closest friend.
This is important because many times you will find that what you want, is not what your partner wants, or what you thought you wanted, is not really what you thought you wanted. You also want to get comfortable walking into other people's homes. Lastly, it's a good way to get an introductory grasp on the market and what is available in your price range. You may learn that $400,000 may not buy you the roomy two bedroom two bath you were hoping for.
3. Don't rush to view homes
Make it a point to meet with your real estate agent to discuss what's important to you in a home, your lifestyle, and discuss what you expect from him or her. Then let your agent get to work and do the searching.
Shopping for a condominium is exciting. Looking at other people's home's is fun I'll admit. But when it turns into a sport more so than a goal then you may be searching for something that doesn't exist. Remember, almost never does someone find a "perfect home".
Here are my tips when searching for a home.
1. Make a wish list
I'm not talking about a power point presentation, I usually ask my clients to give me their top five. Yours might be something like this:
- Close to Ferry
- Two bedrooms
- Garage parking
- Renovated Kitchen
- Washer Dryer on site
2. Visit some open houses
Before you view condo's with your real estate agent, take one or two Sundays to yourself to look at some open houses with whomever you are buying with, say your spouse or partner, or if you're buying for yourself, then take your closest friend.
This is important because many times you will find that what you want, is not what your partner wants, or what you thought you wanted, is not really what you thought you wanted. You also want to get comfortable walking into other people's homes. Lastly, it's a good way to get an introductory grasp on the market and what is available in your price range. You may learn that $400,000 may not buy you the roomy two bedroom two bath you were hoping for.
3. Don't rush to view homes
Make it a point to meet with your real estate agent to discuss what's important to you in a home, your lifestyle, and discuss what you expect from him or her. Then let your agent get to work and do the searching. Hopefully you were referred to an agent who is skilled and will listen to your needs then show you homes that only fit your criteria.
4. Know that you can find your ideal home on your first day out!
Don't be scared! Don't feel like you have to see everything on the market or that you didn't look long enough. Most buyers find the home they want to make an offer on, once they've seen on average 6 homes!! Your agent is skilled to pin point what you are looking for. Plus, like myself, many agents preview listings and we are familiar with many buildings. So, I can say to a client that says to me, "what about this unit? Can we see this one?" - I'll respond with, it is not an open layout like you wanted, and the terraces in this building are located off of the bedrooms - not the living room.
5. When you see one you like - go for it.
Don't wait to see a few more before you decide. It happens ALL the time, even in slow markets. A buyer will see one they like, then they'll decide they want to keep looking a little more. Well, you know what happens next. The buyer will want to come back and make an offer, and that home has an accepted offer.
Remember, there are ALWAYS a pool of buyer's looking for the same specific qualities/wish list you're looking for.
If you've seen more than 20 - 30 homes, then I recommend that you sit down with your real estate agent, re-evaluate and come up with a new game plan. Prepare to make some repairs and changes. You are unique and so are your tastes. Remember, paint can be changed so can counter-tops and window hangings. You can add molding you can take away molding. What's important is the space and if it suits your day to day life.
Part of the fun of being a home owner is personalizing your home.
Wednesday, August 18, 2010
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones
Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstones
Week of August 9th - August 15th 2010
What's Cookin In Hoboken
Condominium Sales: This week there were as many sales as the week prio. 5 total sales. The lowest price a 661 Sq foot one bedroom at 163 14th St, with a list price of $339,900 and a sale price of $315,000. The highest price, an 1100 sq foot two bed two bath with parking at 1300 Grand St with a list price of $549,900 and a sale price of $530,000.
Median list price was $379,900 median sale price was $372,750. Median days on market was 36 days.
Pending Sales: For this week there were ten units that went under contract. Two shy of last weeks pending sales. The lowest price was a 330 square foot studio at 725 Washington St with an asking price of $215,000. The highest price was a 1298 square foot one bed plus den w/terrace and parking at Maxwell Place with an asking price of $799,999.
Median list price was $439,000 median days on market 33 days.
Brownstone Single Family Homes
Sales:One sale for the week. 1217 Park, a 4 bedroom three bath single family on a 16 by 100 lot in need of complete rehab sold, with an original list price of $829,000 sold for $750,000.
Pending:
No single family homes pending for the week.
Compare this week's to last weeks sales.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Week of August 9th - August 15th 2010
What's Cookin In Hoboken
Condominium Sales: This week there were as many sales as the week prio. 5 total sales. The lowest price a 661 Sq foot one bedroom at 163 14th St, with a list price of $339,900 and a sale price of $315,000. The highest price, an 1100 sq foot two bed two bath with parking at 1300 Grand St with a list price of $549,900 and a sale price of $530,000.
Median list price was $379,900 median sale price was $372,750. Median days on market was 36 days.
Pending Sales: For this week there were ten units that went under contract. Two shy of last weeks pending sales. The lowest price was a 330 square foot studio at 725 Washington St with an asking price of $215,000. The highest price was a 1298 square foot one bed plus den w/terrace and parking at Maxwell Place with an asking price of $799,999.
Median list price was $439,000 median days on market 33 days.
Brownstone Single Family Homes
Sales:One sale for the week. 1217 Park, a 4 bedroom three bath single family on a 16 by 100 lot in need of complete rehab sold, with an original list price of $829,000 sold for $750,000.
Pending:
No single family homes pending for the week.
Compare this week's to last weeks sales.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Tuesday, August 10, 2010
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones
Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstones
Week of August 1st - 8th 2010
What's Cookin In Hoboken
Condominium Sales
This week there were 5 sales ( compared with the previous week of 15). The lowest priced sale was a 745 sq foot one bedroom with parking at 70 Adams with a list price of $419,000 and a sale $400,000. The highest priced sale was for a 1220 square foot two bedroom two bath at 600 Hudson. This sale actually sold ABOVE asking. Original list price was $669,000 sale price was $685,000.
Median list price for the week was $479,000 and the median sale price was $460,000. Median days on market was 63 days.
Pending Units
This week there are 12 units under contract. The lowest asking price was for a 700 sq foot one bedroom plus den and parking at 121 Willow with a list price of $389,000. The highest asking price was for a 2522 square foot 3 bedroom two bath with garage at 61 Madison with a list price of 1,19M.
Median list price for the week was $484,450 median days on market was 51 days.
Brownstones and Single Family Homes
Sales
This week no single family homes sold.
Pending
No contracts were written this week for single families.
Compare this week's sales to last weeks.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Week of August 1st - 8th 2010
What's Cookin In Hoboken
Condominium Sales
This week there were 5 sales ( compared with the previous week of 15). The lowest priced sale was a 745 sq foot one bedroom with parking at 70 Adams with a list price of $419,000 and a sale $400,000. The highest priced sale was for a 1220 square foot two bedroom two bath at 600 Hudson. This sale actually sold ABOVE asking. Original list price was $669,000 sale price was $685,000.
Median list price for the week was $479,000 and the median sale price was $460,000. Median days on market was 63 days.
Pending Units
This week there are 12 units under contract. The lowest asking price was for a 700 sq foot one bedroom plus den and parking at 121 Willow with a list price of $389,000. The highest asking price was for a 2522 square foot 3 bedroom two bath with garage at 61 Madison with a list price of 1,19M.
Median list price for the week was $484,450 median days on market was 51 days.
Brownstones and Single Family Homes
Sales
This week no single family homes sold.
Pending
No contracts were written this week for single families.
Compare this week's sales to last weeks.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Friday, August 6, 2010
Hoboken Spaghetti Dinner Block Party! Get Your Tickets!
This year you have to check out Hoboken's 6th Annual Spaghetti Dinner Block Party. Love Italian food? Don't miss it! This year it will take place September 2nd along Frank Sinatra Drive.
Tickets are only $15.00 if you buy them in advance and look at all you get!
You Cafone!!
Tickets are only $15.00 if you buy them in advance and look at all you get!
You Cafone!!
Includes:
Four kinds of pasta
Meatballs
Sausage
Salad
Bread
Dessert - Madone!!
Wine, beer, water, soda, will also be available at additional cost and sold to raise funds for the Hoboken Ambulance Corp.
You can call 201-420-2207 for information or to purchase tickets. Tickets purchased after deadline are $20.00 each. To reserve a table of 10 = $150.00; after deadline table of ten is $200.00. Tickets for children 12 & under are $8.00; after deadline children's tickets are $10.00
Wednesday, August 4, 2010
Hoboken Real Estate Weekly Update + Month Overview
Hoboken Real Estate Weekly Sales Update
What's Cookin In Hoboken
Condomonium Sales:
The month of July saw 49 sales. Down significantly from June's 119 sales.
Median List Price was $499,888
Median Sold Price was $477,500
Median Days on Market - 51 Days.
Pending Condominium Sales:
53 units were DABO'd (Deposit accepted by owner) for the month.
Median List Price was $464,000
Median Days on Market - 74 Days
Already we see that the median list price is down from the median sale price for the month.
Here's a few snap shots at sales over the last few years /condominium prices in Hoboken
July 04 - 92 Sales = median sale price $402,500
July 05 - 91 Sales = median sale price $525,000 +
July 06 - 84 Sales = median sale price $498,500 -
July 07 - 88 Slaes = median sale price $506,000 +
July 08 - 92 Sales = median sale price $490,750 -
July 09 - 62 Sales = median sale price $469,000 -
July 10 - 49 Sales = median sale price $477,500 +
I've highlighted the dips to take note of. This July we are very low and off track of normal July sales for the month...
With the tax credit expired and buyer's left wondering about job security, the housing and job market, most likely, August's sales will be weaker than expected. NAR released a statement saying that June's sales fell more than 5 percent.
From Realtor.org's website.
Washington, July 22, 2010
With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of Realtors®.
Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.
Lawrence Yun, NAR chief economist, said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits. “June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months,” he said.
“Broadly speaking, sales closed after the home buyer tax credit will be significantly lower compared to the credit-induced spring surge. Only when jobs are created at a sufficient pace will home sales return to sustainable healthy levels.”
Stayed tuned as I monitor this month's in my weekly Real Estate Sales Update.
July last week saw 15 sales. Median sale price of $475,000.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Month of July - Let's Tally Up The Totals For The Month
What's Cookin In Hoboken
Condomonium Sales:
The month of July saw 49 sales. Down significantly from June's 119 sales.
Median List Price was $499,888
Median Sold Price was $477,500
Median Days on Market - 51 Days.
Average Price Per Sq Foot - $439.75
Pending Condominium Sales:
53 units were DABO'd (Deposit accepted by owner) for the month.
Median List Price was $464,000
Median Days on Market - 74 Days
Already we see that the median list price is down from the median sale price for the month.
Here's a few snap shots at sales over the last few years /condominium prices in HobokenJuly 04 - 92 Sales = median sale price $402,500
July 05 - 91 Sales = median sale price $525,000 +
July 06 - 84 Sales = median sale price $498,500 -
July 07 - 88 Slaes = median sale price $506,000 +
July 08 - 92 Sales = median sale price $490,750 -
July 09 - 62 Sales = median sale price $469,000 -
July 10 - 49 Sales = median sale price $477,500 +
I've highlighted the dips to take note of. This July we are very low and off track of normal July sales for the month...
With the tax credit expired and buyer's left wondering about job security, the housing and job market, most likely, August's sales will be weaker than expected. NAR released a statement saying that June's sales fell more than 5 percent.
From Realtor.org's website.
Washington, July 22, 2010
With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of Realtors®.
Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.
Lawrence Yun, NAR chief economist, said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits. “June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months,” he said.
“Broadly speaking, sales closed after the home buyer tax credit will be significantly lower compared to the credit-induced spring surge. Only when jobs are created at a sufficient pace will home sales return to sustainable healthy levels.”
Stayed tuned as I monitor this month's in my weekly Real Estate Sales Update.
July last week saw 15 sales. Median sale price of $475,000.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Tuesday, July 27, 2010
Hoboken Rentals | Advice For Tenants Having Trouble With Their Landlord
Hoboken Rentals Advice For Tenants Having Trouble With Their LandlordA friend of mine recently told me that the property management company handling her rental in Hoboken asked to make changes to her lease. Specifically, he wanted to write an entire new lease without her lease term having ended, to add a new roommate. When she said that she didn't want to sign a new one since she is moving out when her term ends in September, he said "it will be easy for you to find someone to take your place".
I will leave out the name of the management company that said this because I have to believe that deep down, this person knows that what he said is wrong.
He then also told her that the rent would be increased, when she asked how much, he said he wouldn't tell them until they "sign the new lease" and that he'll let them know after.
Another no no.
Tenants you should know that when you sign a lease, the terms set forth within that lease are binding to all parties. If your rental term is 12 months, and you are asked to sign a new lease in the 10th, 11th or any other month for that matter, know that unless it explicitly says otherwise you will be signing another one year lease. In cases where you have roommates, you may not be able to assign your tenancy to someone new unless the landlord expressly agrees to.
So beware:
A. You do not have to sign a new lease until your current one that is effective ends
B. You should not assume that you can transfer your tenancy or sublet to someone unless the landlord expressly agrees that it's ok.
C. In the case where roommates are involved, I would strongly recommend, that you add to the provisions section in the lease (the last two pages) that the "landlord agrees to allow assignment of remaining term on lease to a new tenant pending review of said tenant's credit and income verification" or something to that affect that all of you can live with.
Renting Condos:
If you sign a lease to an apartment that is a condominium, you should read carefully to see if your lease has a "condo clause" in it. A condo clause gives the owner, a.k.a. landlord, the right to sell the unit you are renting to a buyer, and, essentially kick you out with just 60 days notice to find a new home.
It's a gray area, in that I don't know if this is allowed prior to the lease term end. In other words, if you sign a lease for one year, can the owner in the fourth month decide to sell and make you move out in the next 60 days after it is sold. I have yet to have a real estate attorney confirm this for me. In this case, I would strongly recommend, that you add a provision to the lease that says something to the effect of "landlord agrees to not sell or transfer ownership of the condo during the lease term. Tenancy will remain in effect, and in accordance to lease agreement, for entire term. Tenant will agree to allow showings to property within 60 days of lease term end". There are some cases where an owner will sell a property with the lease terms surviving the sale, in this case you may not need the clause. You should have a conversation with not just the real estate agent involved, but with the owner directly as to their plans and decide from their what you would like added and agreed to to protect yourself. The owner may or may not agree, if they do not, then you have saved yourself from singing a lease agreement.
Now I'm not an attorney, far from it in fact, but I can tell you that it is extremely important that you protect yourself and add clauses like these in these situations. As a real estate agent we always work to make sure the owner of the property's best interests are met, but we also have to be fair and work within legal limits.
By no means, can anyone, real estate agent, property manager, tenant or owner for that matter change the terms of a lease without express permission in writing by all parties named.
I was upset to learn that my friend was being strong armed by this person. And sadly this is not the first of this company's shenanigans. It prompted me to write this post, and I hope someone else will read it that it can help.
Lastly, let me say this, if your apartment is being managed by a company, you should not be negotiating lease terms with them. You should contact the owner directly and discuss with them. They should provide you with a new lease, signed by them with the terms that you both agreed to.
Bottom Line: Read everything, ask questions, do not sign something you do not understand or did not agree to. Your lease is a contract.
Hoboken Real Estate Market | Weekly Update | Hoboken Condos and Brownstones
Hoboken Real Estate Market Weekly Update Hoboken Condos and Brownstones
For the week of July 19th to July 25th, 2010.
Condominium Sales:
There were six sales for this week. The lowest price a 611 square foot one bedroom on 2nd and Adams, with a list price of $224,900 sold for $220,000. The highest priced sale, was a 1338 square foot two bedroom two bath at 1100 Adams with a list price of $629,000 and a sale price of $595,000.
Median list price for the week was $457,433 median sale price was $440,500. Median days on market was 59 days. Down about 12.5% from last week.
Pending Sales:
14 new contracts were written by real estate agents this week. From the lowest, 222 Grand St a short sale, 720 square foot one bedroom with a list price of $349,000 to the highest, 56 Jefferson St a 2139 square foot three bedroom three bath with an asking price of 1.1Million.
Median list price for the week was $449,450. Median days on market was 62 days.
Brownstone Single Family Homes
Sales:
No homes sold for this week.
Pending:
No homes are under contract this week.
Compare this week's to last weeks sales.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
For the week of July 19th to July 25th, 2010.
What's cookin in Hoboken
Condominium Sales:
There were six sales for this week. The lowest price a 611 square foot one bedroom on 2nd and Adams, with a list price of $224,900 sold for $220,000. The highest priced sale, was a 1338 square foot two bedroom two bath at 1100 Adams with a list price of $629,000 and a sale price of $595,000.
Median list price for the week was $457,433 median sale price was $440,500. Median days on market was 59 days. Down about 12.5% from last week.
Pending Sales:
14 new contracts were written by real estate agents this week. From the lowest, 222 Grand St a short sale, 720 square foot one bedroom with a list price of $349,000 to the highest, 56 Jefferson St a 2139 square foot three bedroom three bath with an asking price of 1.1Million.
Median list price for the week was $449,450. Median days on market was 62 days.
Brownstone Single Family Homes
Sales:
No homes sold for this week.
Pending:
No homes are under contract this week.
Compare this week's to last weeks sales.
Information provided by the Hudson County MLS, deemed reliable but not guaranteed.
Sunday, July 25, 2010
Hoboken Open House List | RE/MAX Gold Coast Realty
800 Jackson St. METROSTOP CONDOMINIUMS When: Saturday 7/24 & Sunday 7/25 1-4PM Listing Price: 1BR's Starting @ $369,000 / 2BR's Starting @ $525,000 |
219 Monroe St. #2  FANTASTIC STARTER HOME! When: Sunday 7/25 1-3PM Listing Price: $259,000 Bedrooms: 1 Baths: 1 Sq.ft: 603 MLS#: 100008181View More Info |
609 Madison St. #Unit B  PARKING SPOT INCLUDED! When: Saturday 7/24 2-4PM Listing Price: $449,000 Bedrooms: 2 Baths: 2 Sq.ft: 1080 MLS#: 100006389View More Info |
700 1st St. #17R  JUST REDUCED! 1137 SQFT W/BALCONY! When: Saturday 7/24 1-3PM & Sunday 7/25 2-4PM Listing Price: $475,000 Bedrooms: 1 Baths: 2 Sq.ft: 1137 MLS#: 100006917View More Info |
Tuesday, July 20, 2010
Hoboken Real Estate Weekly Sales Update
Hoboken Real Estate Weekly Sales Update
For the week of July 12th - 18th 2010
What's Cookin In Hoboken
Condominium Sales:
There were 8 sales for this week. From the lowest price, a 1037 square foot two bedroom one bath duplex at 80 Park, the converted school house, with an asking price of $399,000 and a sale price of $390,000. The highest priced sale, was a 1574 sq foot two bedroom, three bath duplex at Metro Stop with an asking price of $790,000 and a sale price of $760,000.
Median listing price was $527,000 median sale price was $510,000. Median days on market was 38 days, the average days on market was 79.
Pending Sales:
12 new contracts were written by real estate agents for this week. The lowest price, a 535 square foot one bedroom with yard at 309 Monroe with an asking price of just $245,000 to the highest price, a two bedroom two and a half bath duplex at 60 Jefferson with an asking price of $749,000.
Median list price was 552,000. Median days on market was 73 days.
Brownstone Single Family Homes:
Two homes sold for this week. One, a rehab home at 161 12th street with an asking price of $599,000 sold for $400,000. And the other, a beautifully renovated home at 218 7th street with an asking price of $995,000 sold for $940,000.
Pending:
No homes went into contract for this week.
Compare this week's sales to last weeks.
Information supplied by the Hudson County MLS, deemed reliable but not guaranteed.
Monday, July 12, 2010
Seller Incentives In A Challenging Market
Seller's Incentives for a Challenging Economy
In a down economy, sellers must compete not only with other homes in the market, but also with buyer's fears and concerns. Selling incentives have always been a way to create additional interest in your property. Today, incentives can help motivate reluctant buyers to make that next step in the face of the present environment.
Below are a few of the more frequently used incentives that can be used to draw attention to your home.
Paying Points
Lenders charge fees known as points, with each point equal to 1 percent of the total loan amount. The base fee charged (called origination points) typically ranges between 0 and 3 points, depending on the interest rate given and other terms of the loan. Points can add up to a significant up-front cost for the buyer, particularly for larger mortgages. Offering to pay some or all of the origination points on behalf the buyer can help generate offers from cash-conscious buyers.
Buying Down the Interest Rate
Many buyers don't understand that they can receive a lower interest rate from their lender by paying additional points at the outset. Buyers can typically pay up to four "discount points" to bring down the interest rate. Offering to pay discount points can increase your home's affordability for many prospective buyers.
Providing a Home Warranty
A home warranty can help assure wary consumers that they won't be stuck with expensive repair costs shortly after buying a home. Home warranties usually cover the repair or replacement of core systems such as plumbing, heating and electrical, along with major appliances. Providing the first year (or two) of a home warranty can add to your home's appeal, especially if you are competing against newer homes on the market. The relatively low cost of home warranties ($250 to $600 annually) offers great value as an eye-catching incentive.
Paying for Closing Costs
Closing a real estate sale can result in a long list of charges, from inspection costs to attorney's fees. Closing costs for the buyer can easily total several thousand dollars - adding to the up-front cash required as a down payment. Sellers can offer to pay for the buyer's side of closing costs to help ease the burden. When doing so it is wise to either put a cap on the dollar amount you will contribute to closing costs, or specify exactly which individual costs you will be paying for.
Upgrade Allowances
Offering cash allowances for specific upgrades can sometimes be a creative way to appeal to buyers. Upgrade allowances are commonly offered by new home builders, and some homeowners are now employing the technique to help set their properties apart from the competition.
For example, if your home has older carpet you may offer to pay the price of new carpet and installation. By not replacing the carpet yourself ahead of the sale, you avoid the hassle of having the carpet installed and the pain of keeping the new carpet clean during showings. You also give the buyer the chance to select a carpet that matches their taste.
Other upgrades offered by sellers include allowances for kitchen facelifts, bathroom remodels and new landscaping.
For example, if your home has older carpet you may offer to pay the price of new carpet and installation. By not replacing the carpet yourself ahead of the sale, you avoid the hassle of having the carpet installed and the pain of keeping the new carpet clean during showings. You also give the buyer the chance to select a carpet that matches their taste.
Other upgrades offered by sellers include allowances for kitchen facelifts, bathroom remodels and new landscaping.
New Appliances
Another flashy way for sellers to sweeten the deal is to provide buyers with their selection of brand new appliance packages. Updated appliances help your home compete with newly built properties. Allowing the consumer to choose their desired appliance gives them another opportunity to personalize the home to their liking. You can even lay out brochures of some example appliances to help buyers visualize your home improved with the newest gadgets.
For more seller tips or a free market analysis please message me!
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