The Hoboken & Downtown JC Open House Google Map for Saturday, Feb 4th & Sunday, Feb 5th, 2012
Categories: For Buyers, For Sellers, Hoboken Condos, Jersey City Condos, Open House
The Original and Best Open House Google Map!
Courtesy of the Turoff Realty Team
No need to register! No silly form to fill out!
Just click on the map below to see every Open House in Hoboken this weekend
Click HERE to see the Downtown Jersey City Open House Map
When you look at the maps, place markers are color coded:
- Studios & 1BRs are red
- 2BRs are green
- 3BRs & Bigger for Hoboken are yellow
- New listings are marked with a Push Pin icon (in the same color scheme.)
Click the “Address”, “Price” “Bed” or “Details” columns to put the open houses in ascending or descending order.
Click on the location marker for:
- open house date
- time
- unit size
- asking price
- link to all the info found on the MLS and more (from ourHobokensBestHomes.com IDX feed.)
Who Represents Whom?
Did you know that the agent hosting an open house is the Seller’s agent?Whether it is the actual listing agent or any other agent from the same company, that person legally represents the sellers. Not only that, the hosting agent – by law – has a fiduciary duty to the seller to get that seller the highest possible price for that property. Do you think it might be a conflict of interest for that same person to then represent you? Many people think so. In fact, in many states (other than NJ) it is illegal for the same agent to represent the seller and also work with the buyer.
If You Thought Sunscreen & Condoms were the Only Protection You Need – You Are Wrong!
Interested in new construction – like Maxwell Place or Hudson Tea? Before you walk into the Toll Brothers Sales Office know what you are getting in to! Once you talk to the sales office – even casually – they WILL NOT compensate your agent if you go back with an agent. Of course, you should go back with an agent because:
1. The sales office works NOT for you but for the developer! They are Toll Brother’s agent – not yours!
2. Despite what you may have heard or come to believe, Toll Brothers is NOT going to cut you a deal if you work with them without an agent.
Looking at resales? Did you know that when you go to an open house you can see the property at the open house on your own and then go back to it with your own agent? So if you see something you like at an open house you find your own agent whodoes not work for the seller. By the way, if the host says “oh, it’s not my listing, I’m not the seller’s agent” they are just flat-out wrong. The listing agreement a seller signs is between the seller and the brokerage company (Century 21, Coldwell, Remax, etc.). EVERY agent from that firm is the seller’s agent! So protect your interests. You’re making one of the biggest financial decisions of your life.
| Currently No Comments »
The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of February 1st, 2012
Categories: For Buyers, For Sellers, Hoboken Condos, Weekly Wednesday Wrap Up
If you’re like me, you love nothing more than stealing a few hours to study the trends and analyze the data related to Hoboken real estate. Earlier this week, I posted about the absorption rate in the market. Looking at today’s edition of the wrap-up, I think you’ll notice another trend coming into focus: the diminishing–or disappearing–discount rate.
If you look at wrap-ups from 6 months ago, you’ll see that the DABO listings for individual properties often included multiple price reductions. In recent weeks, the majority of DABO listings show only the price at which the property was listed initially. Even the detailed listings for properties which have sold are beginning to show fewer reductions between the price at DABO and the final sales price. What does that mean? Properties that sell aren’t on the market long enough for the sellers to need to reduce their asking price, and buyers are making full-price offers. Food for thought…
This Week’s Condo Sales & Activity versus last week’s:
- 205 active Hoboken condo units – vs. 210 last week
- 15 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 10 last week
- 7 Sold vs. 13 last week
- 17 New listings vs. 30 last week
- 3 Price change vs. 4 last week
- 1 Expired listings vs. 3 last week
1 Bedroom & Studio Condos
4 New listings
2 Price Changes
89 Active
5 DABO’s
- 235 Park Ave., 1 listed Jan 19 for $262K;
- 812 Grand St., 212 listed Jan 19 for $375K;
- 1015 Washington St., 1 listed Jan 3 for $320K;
- 1001 Clinton St., 3B listed Nov 14 for $309K;
- 1201 Willow Ave., 5R listed Nov 7 for $359K;
2 Sold
- 73 Garden St., 2L listed June 10 for $320K; reduced Aug 17 to $305K; reduced Sept 26 to 299K; sold for $280K;
- 1110 Clinton St., 7 listed Sept 22 for $395K; sold for $380K;
2 Bedroom Condos
11 New listings
1 Price change
99 Active
8 DABOs
- 600 Hudson St., 0A listed Jan 13 for $589K;
- 1325 Adams St., 605 listed Jan 10 for $499K;
- 609-615 Observer Hghwy., 403 listed Jan 5 for $569K;
- 224 Park Ave., 2 listed Dec 9 for $469K; reduced Dec 16 to $449K;
- 1500 Garden St., 2F listed Dec 1 for $1.295 Mil;
- 83 Monroe St., 3A listed Oct 21 for $475K; reduced Jan 11 to $465K;
- 1108 Hudson St., 5A listed Oct 17 for $525K; reduced Nov 29 to $514K;
- 813 Park Ave., 1L listed April 20 for $319K; reduced Aug 30 to $299K;
3 Sold
- 464 Newark St., 3A listed Sept 19 for $450K; reduced Oct 14 to $429K; sold for $421K;
- 721 Madison St., 4S listed Nov 11 for $479K; reduced Nov 26 to $466K; sold for $448K;
- 800 Jackson St., 608 listed Sept 13 for $581K; reduced Oct 13 to $570K; sold for $531K;
3 Bedroom & Bigger Condos
2 new listings
No price changes
17 Active
- 111 Garden St., A listed Jan 17 for $915K;
- 833 Willow Ave., 4 listed Jan 11 for $729K;
- 604-606 Monroe St., 8 listed Sept 30 for $799K; reduced Oct 12 to $785K; sold for $765K;
- 1119 Washington St., 1 listed Sept 22 for $875K sold for $790K;
| Currently 6 Comments »
What’s Really Happening in Hoboken Real Estate? Absorption Rate Tells All
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
We have a bunch of year end statistics I’ve been periodically posting. There is one, however, with which I have real-life, day-to-day experience. I work with a lot of buyers. More than almost any other agent in Hoboken. The problem I’ve seen at every price point and every bedroom size is this – there is simply no inventory out there. My buyers request to see a particular unit, I make the call for the appointment and find out it’s already under contract. They make offers only to learn that there are 2 and 3 other offers on the same property. It is happening more and more frequently. The chart below will help to explain why:
Basically, we don’t have enough inventory. Let me break it down a bit further. Other than the seasonal 4th quarter “holiday respite” the number of properties being listed has dropped steadily. Take a look:
Not many listings at all. We’ve gone from a high of 513 new listings in the 1st quarter of 2010 to a low of 153 new listings this past quarter. That is a huge, 70% decrease. Why, you might wonder? Well, those people who bought at the last market peak (yes, I do believe eventually there will be another) aren’t selling at a loss. They are either staying put or renting out their properties. So we don’t have many units for sale.
And what has happened to sales activity during that same time frame?
There has been a drop recently but not nearly as great. The high was 284 units sold in the 4th quarter of 09 and the low 139 units last quarter. That is a 50% decrease. Going back to the first chart of absorption rate, if listings and sales continue at this pace, it would take only 4 months to sell all the inventory currently on the market. What that doesn’t take into account is that some of those units are real duds. They are never going to sell either because they are drastically overpriced or they are in terrible condition.
Which brings me back to my work with my buyers. I simply have nothing nice to show them. So I show them the duds with the hope that when a really good property does hit the market, they will feel confident enough to be able to make a strong offer before the other buyers out there do.
| Currently 10 Comments »
