Comments on: The Weekly Wednesday Wrap-Up - Hoboken Condo Sales Activity & Inventory http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/ Everything buyers and sellers need to know about Hoboken condos and homes. Fri, 21 Nov 2008 20:24:30 +0000 http://wordpress.org/?v=2.6.1 By: Tiger http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-227 Tiger Tue, 17 Jun 2008 13:08:52 +0000 http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-227 Thanks guys. I guess there is no question that inventory is building up in Hoboken. However, we still have good numbers compared to the rest of the country, which is always good :-) Thanks guys. I guess there is no question that inventory is building up in Hoboken. However, we still have good numbers compared to the rest of the country, which is always good :-)

]]> By: Lori http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-223 Lori Fri, 13 Jun 2008 19:12:46 +0000 http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-223 Here is the answer: At MetroStop, there are only 53 units (of all sizes) on the MLS as active. (10 more are under contract, none sold). There are 4 active at Observer Lofts. (6 under contract, 15 sold). Remember, developers often "sell" with refundable deposit contracts. While the may all have been 'sold' a few months ago, people cancel their contracts when there is little or no penalty other than rising prices the longer they wait to sign on for new construction. Yes, more families with children are staying in Hoboken longer but our school system remains an incentive for them to move out to the 'burbs at the point when their kids are ready for school - especially high school. From what I've been told by friends with more knowledge about this than myself, we may really be on the brink of a change for the better due to our new superintendent of schools and some other factors. -Lori Here is the answer:

At MetroStop, there are only 53 units (of all sizes) on the MLS as active. (10 more are under contract, none sold). There are 4 active at Observer Lofts. (6 under contract, 15 sold). Remember, developers often “sell” with refundable deposit contracts. While the may all have been ’sold’ a few months ago, people cancel their contracts when there is little or no penalty other than rising prices the longer they wait to sign on for new construction.

Yes, more families with children are staying in Hoboken longer but our school system remains an incentive for them to move out to the ‘burbs at the point when their kids are ready for school - especially high school. From what I’ve been told by friends with more knowledge about this than myself, we may really be on the brink of a change for the better due to our new superintendent of schools and some other factors.
-Lori

]]> By: Doug http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-222 Doug Fri, 13 Jun 2008 15:44:54 +0000 http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-222 Tiger - the demographics of Hoboken have been changing rather drastically over the past few years. There are many more young families. In fact, I bet that as gas prices continue to rise, Hoboken 2 BM's will start to do very well as families will see more "value" in living in a commuter friendly place like Hoboken. Its just a downturn in the market...Hoboken will be ok. By the way, I just saw the previous poster's comment on Observer Lofts - that is true. A friend of mine bought there about 2 months ago, and as of that time, there were 2 units left, so it may be sold out by now. Tiger - the demographics of Hoboken have been changing rather drastically over the past few years. There are many more young families. In fact, I bet that as gas prices continue to rise, Hoboken 2 BM’s will start to do very well as families will see more “value” in living in a commuter friendly place like Hoboken. Its just a downturn in the market…Hoboken will be ok.

By the way, I just saw the previous poster’s comment on Observer Lofts - that is true. A friend of mine bought there about 2 months ago, and as of that time, there were 2 units left, so it may be sold out by now.

]]> By: Steve http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-221 Steve Fri, 13 Jun 2008 15:37:29 +0000 http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-221 Observer Lofts has 2 units left, so I doubt that is making a huge impact on the numbers. Observer Lofts has 2 units left, so I doubt that is making a huge impact on the numbers.

]]> By: Tiger http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-220 Tiger Fri, 13 Jun 2008 13:28:17 +0000 http://hobokenrealestatenews.com/2008/06/12/the-weekly-wednesday-wrap-up-hoboken-condo-sales-activity-inventory-2/#comment-220 Thanks Lori. I guess the 1 BR market still remains the strongest in Hoboken, which is no surprise given Hoboken demographics. There is question that inventory is building up, but do you feel that perhaps Metrostop and Observer lofts have anything to do with those numbers? From what I heard neither building is 'sold out' and still have plenty of inventory. Thanks! Thanks Lori. I guess the 1 BR market still remains the strongest in Hoboken, which is no surprise given Hoboken demographics. There is question that inventory is building up, but do you feel that perhaps Metrostop and Observer lofts have anything to do with those numbers? From what I heard neither building is ’sold out’ and still have plenty of inventory. Thanks!

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