Categories: Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of February 9th, 2011
Attention all you guys out there – Valentine’s Day is just around the corner. Regardless of what she may say, some flowers or a box of chocolates are always appreciated. But please, get the good stuff if you’re going for chocolate! If you’re really ready to splurge you could always buy her a new home.
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Fannie & Freddie Not So Loved
According to the NY Times, changes are in store for these two giants. Exactly how that change may play out is still uncertain. Do we need the government to prop up the mortgage market or is the private sector able to handle it on its own? Meetings are taking place as we speak. Other topics to be addressed by Congress include enhanced borrower protections, and changes in mortgage servicing to address the industry’s failure to work with borrowers who fall behind on payments. Change is sure to come but it may take a while given the scope of the problems.
January Sales Results – Now by Condo Size
In case you haven’t seen it, the January numbers have been posted. Prices are still down but activity holds steady. I’ve broken the results down by bedroom size, too.
I’m still happy to send you comps if you are appealing your own taxes. Keep in mind that the City has a 15% margin of error. If your assessment does not multiply out to at least 15% over the current market value of your property, you are not likely to be successful in an appeal. The “upper limit” multiplier for Hoboken is .3407. To see where you are at, take your assessed value and divide by .3407. For example, if your assessed value is $175,000, the result would be $513,648. Your property value must be less than $513k to win an appeal. You can get more details on tax appeals and forms at the Hudson County Tax Board website.
Here is this week’s condo sales report:
Disclaimer: The data relating to real estate transactions on this web site comes in part from the Hudson County MLS. While some of these listings are, in fact, our listings they are not ALL our listings nor do we hold them out as such. Century 21 Listings are identified with “C21″ after the address. Other listings are from the MLS and are identified with “MLS” after the address. Information is deemed reliable but not guaranteed.
- 350 active Hoboken condo units – vs. 345 last week
- 10 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 10 dabos last week
- 8 sold vs. 11 sold
- 30 new listings vs. 16
- 12 price reductions vs 14
- 7 expired listing vs. 5
Studio & 1 Bedroom Hoboken Condos:
5 new listing
- 1026 Wash (mls) listed on Jan 15 for $172,5k.
- 422 Madison (mls) listed on Jan 21 for $210k.
- 456 9th St (mls) listed on Jan 4 for $369k.
- 1125 Maxwell (mls) listed on Dec 28 for $550k.
- 1125 Maxwell (mls) listed on Jun 13 for $791k; sold for $809k.
- 420 Madison (mls) listed on Nov 2 for $270k; sold for $255k.
6 price reductions
133 Total Active 1BRs
Two Bedroom Hoboken Condos:
15 new listings
- 1500 Hudson (mls) listed on Oct 28 for $870k.
- 261 12th St (mls) listed on Jan 20 for $375k.
- 82 Jackson (mls) listed on Oct 29 for $345k; reduced on Nov 18 to $335k; Dec 9 to $320k; Jan 12 to $299k.
- 56 Jefferson (mls) listed on Sep 28 for $425k; reduced on Sep 28 to $415k; Dec 1 to $385k.
- 1200 Grand (mls) listed on Nov 11 for $498k; reduced on Jan 9 to $490k.
- 76 Jackson (mls) listed on Jan 10 for $375k.
- 704 Clinton (mls) listed on Sep 15 for $549k; reduced on Sep 17 to $529k; Oct 29 to $519k; sold for $497.5k.
- 812 Grand (mls) listed on Sep 15 for $589k; reduced on Nov 15 to $575k; sold for $550k.
- 507 Bloom (mls) listed on Aug 4 for $545k; sold for $542k.
- 2 Constitution (mls) listed on Jun 29 for $559k; reduced on oct 1 to $549k; Oct 27 to $529k; sold for $495k.
- 109 Harrison (mls) listed on Sep 7 for $640k; sold for $600k.
5 price reductions
183 Total Active 2BRs
Three Bedroom and Larger Hoboken Condos:
3 new listings
- 715 Mad (mls) listed on Aug 12 at $825k; reduced on Oct 11 to $815k; Nov 13 to $810k.
- 112 Mad (mls) listed on Jan 18 for $599k.
- 557 2nd (mls) listed on Oct 5 for $775k.
- 700 1st St (mls) listed on Sep 21 for $489k; sold for $472.5k.
3 price reductions
34 Total Active 3BRs
Hoboken Condo Open Houses
Want to Receive New Listings & Price Reductions Daily?
If you would like to be emailed the new listings and price reductions each weekday in either 1br, 2br or 3br categories just email us at [email protected] letting us know which size(s) you would like and we’ll add you to the daily email list.
For more information you can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!