2016 Feb 10th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of  February 10th, 2016

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As of February 10th, 2016:

  • 124 active Hoboken listings
  • 108 Condo & Co-op listings, compared to 108 last week
  • 11 Single-family listings, compared to 9 last week
  • 5 Multi-family listings, compared to 5 last week


This Week’s Residential Property Sales & Activity:

  • 13 DABOs (Deposit Accepted By Owner and Under Contract) vs 15 last week
  • 8 Sold vs 24 last week
  • 28 New listings vs. 34 last week
  • 7 Price changes vs. 6 last week
  • 0 expired listings vs. 1 last week


Studio & 1-Bedroom Properties

30 Active listings

10 New listings

1 Price change

4 DABOs

  • 224 Jefferson St., 2R listed Dec 14 for $375K;
  • 917 Washington St., 3 listed Jan 6 for $580K;
  • 1125 Maxwell Ln., 1006 listed Dec 10 for $800K;
  • 1100 Maxwell Ln., listed Jan 4 for $900K; reduced Jan 22 to $875K;

1 Sold

  • 1106 Washington St., 2S listed Sept 24 for $530K; sold for $525K;


2-Bedroom Properties

47 Active listings

11 New listings

3 Price changes

8 DABOs

  • 817 Park Ave., 9 listed Jan 27 for $389K;
  • 624 Park Ave., 4C listed Dec 7 for $439; reduced Jan 15 to $422K;
  • 131 Monroe St., 3N listed Jan 15 for $559K;
  • 517 Jackson St., 202 listed Jan 14 for $675K;
  • 727 Monroe St., 501 listed Jan 13 for $709K;
  • 1331 Grand St., 604 listed Jan 7 for $750K;
  • 84 Willow Ave., 2B listed Dec 21 for $1.104M; reduced Jan 26 to $923K;
  • 84 Willow Ave., 6B listed Jan 29 for $989K;
5 Sold
  • 400 Madison St., 5 listed Aug 25 for $395K; sold for $425K;
  • 501 9th St., 607 listed Sept 15 for $689K; reduced Oct 12 to $679K; reduced Nov 16 to $669K; sold for $655K;
  • 380 Newark St., 2D listed Nov 30 for $749K; sold for $749K;
  • 904 Jefferson St., 6I listed Nov 20 for $850K; sold for $865K;
  • 1125 Maxwell Ln., 1024 listed Oct 28 for $1.30M; sold for $1.285M;


3-Bedroom & Larger Properties

31 Active listings

7 New listings

3 Price changes

5 Multi-Family Active listings

11 Single-Family Active listings

1 DABO

  • 102 Washington St., 3B listed Jan 27 for $549K;

2 Sold

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Posted by Nathan Turoff | Currently No Comments »

2016 Feb 3rd

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of  February 3rd, 2016

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As of February 3rd, 2016:

  • 122 active Hoboken listings
  • 108 Condo & Co-op listings, compared to 98 last week
  • 9 Single-family listings, compared to 10 last week
  • 5 Multi-family listings, compared to 5 last week

 

This Week’s Residential Property Sales & Activity:

  • 15 DABOs (Deposit Accepted By Owner and Under Contract) vs 11 last week
  • 24 Sold vs 20 last week
  • 34 New listings vs. 12 last week
  • 6 Price changes vs. 9 last week
  • 1 expired listing vs. 0 last week

 

Studio & 1-Bedroom Properties

26 Active listings

4 New listings

3 Price changes

4 DABOs

  • 708 Willow Ave., 1A listed Jan 19 for $449K;
  • 128 Jackson St., 3D listed Jan 7 for $475K;
  • 2 Constitution Ct., 415 listed Dec 22 for $536K;
  • 600 Hudson St., 5E listed Jan 15 for $599K;

4 Sold

  • 308 Monroe St., 1L listed Jun 8 for $315K; reduced Aug 5 to $299K; sold for $290K;
  • 1015 Grand St., 1E listed Dec 11 for $380K; sold for $395K;
  • 501 9th St., 212 listed Nov 9 for $585K; sold for $590K;
  • 41 1st St., 1G listed Nov 10 for $675K; sold for $667K;

 

2-Bedroom Properties

51 Active listings

18 New listings

1 Price change

10 DABOs

  • 717 Willow Ave., 8 listed Jan 12 for $515K;
  • 908 Garden St., 2 listed Jan 21 for $579K;
  • 1120 Clinton St., 5D listed Jan 19 for $659K;
  • 901 Madison St., 3E listed Jan 27 for $679K;
  • 51-53 14th St., 3A listed Sept 21 for $725K; reduced Oct 23 to $700K;
  • 82 Clinton St., 2B listed Jan 6 for $769K;
  • 830 Monroe St., 6E listed Jan 13 for $775K;
  • 1450 Washington St., 208 listed Jan 13 for $899K;
  • 1450 Washington St., 216 listed Jan 19 for $1.025M;
  • 1500 Washington St., 6E listed Jan 5 for $1.150M;
15 Sold
  • 120 Willow Ave., 4L listed May 15 for $390K; sold for $383K;
  • 508 Grand St., 5R listed Oct 12 for $510K; reduced Nov 9 to $499K; sold for $485K;
  • 626 Park Ave., 3 listed Nov 9 for $479K; sold for $520K;
  • 226 Willow Ave., 5 listed Nov 30 for $575K; sold for $577K;
  • 531 Park Ave., 2 listed Nov 5 for $600K; sold for $595K;
  • 421 Jackson St., 4 listed Nov 11 for $600K; sold for $600K;
  • 415 Newark St., 9G listed Dec 11 for $699K; sold for $650K;
  • 536 Grand St., 603 listed Nov 12 for $700K; sold for $720K;
  • 132 Bloomfield St., 2 listed Oct 23 for $729K; sold for $739K;
  • 128 Harrison St., 201 listed Oct 30 for $799K; sold for $790K;
  • 415 Newark St., 11D listed Oct 16 for $819K; sold for $816K;
  • 1021 Grand St., PHC listed Dec 4 for $799K; sold for $825K;
  • 600 Hudson St., 1C listed Oct 14 for $915 K; sold for $900K;
  • 1100 Maxwell Ln., 711 listed Sept 24 for $1.50M; sold for $1.480M;
  • 1125 Maxwell Ln., TH8 listed Sept 15 for $2.750M; sold for $2.550M;

 

3-Bedroom & Larger Properties

31 Active listings

12 New listings

2 Price changes

5 Multi-Family Active listings

9 Single-Family Active listings

1 DABO

  • 720 Grand St., 2B listed Jan 12 for $1.835M;

5 Sold

Posted by Nathan Turoff | Currently No Comments »

2016 Jan 27th

Five Brutally Honest Tips For Selling Your Hoboken Condo That You’ll Never See on HGTV

(You’ll not likely hear them from any other Realtor either)

Everyone who has ever consulted with a Realtor, or watched one of those sales-shows on HGTV knows all the classic pieces of advice with regard to preparing a home for sale.  De-clutter, de-personalize, yada, yada.  Here are some real-life tips that are not always easy to hear or accomplish, but that will make a huge difference in both the time it takes, and the amount you’ll get when selling your home.

1.  Make nice with your inconsiderate neighbors

I’ve seen countless instances where a buyer will walk away from an apartment that is otherwise perfect for them because they could hear children running above them, or because they could smell cigarette smoke through the walls.  You might even be selling because your neighbor leaves strollers, toys, boots, pet products or other personal items in the halls making it difficult for you to pass.  Maybe their dog barks like mad whenever someone walks by, or cries all day while the owner is out.  Whatever the reason, it behooves you, as difficult as it may be, to talk to them.  Beg them to take the kids to the playground or the dog to the park on days when you have open houses or appointments.  Offer to pay for movie tickets or doggie day care to get them out if you have to.  Ask the smoker to please smoke outside until your unit sells.  Make sure they realize it is in THEIR best interests for you to sell your place for the most money possible.  Your sale will be their comp when they go to sell.  Helping you to sell high will raise their property’s value.

2.  Make nice with your condo board too

The first thing a buyer sees when they come to your home for an appointment or open house is the building and the corridors leading to your apartment.  If the lights in the hallways are dim, damaged or broken, or if there are stains on the carpeting, scuff marks on the walls and broken spindles on the banisters, then it doesn’t matter how beautifully you’ve staged your apartment.  The buyers are already are walking in with a negative first impression.  This can be especially tough for small condo associations that may not have a lot in reserve.  You need to impress upon your fellow owners that it is in everyone’s best interests for you to sell high (see #1 above.)  You can sweeten the pot by offering to do some things yourself like shop for new light fixtures or offer to clean (or even paint) the halls yourself.  Yes, the halls are the condos responsibility, not specifically yours, but knowing that won’t make you feel any better if you get offers for tens of thousands of dollars less than you seek because the building has no curb appeal.  Another thing – every morning, throw away those piles of supermarket circulars that clutter up the vestibule.  Put the trash cans away that the garbagemen left strewn about, and when you get home, make sure the bags or trash are actually in the recepticles and that the lids are shut.  If your building has a superintendent or a cleaning service, slip them a couple of extra bucks to do it for you.  It may irk you to have to pay to get things done that should not be your responsibility, but you are the one that stands to benefit.  And make sure there are flyers in the flyer box.  A good Realtor (like me) will provide you with plenty so that you can replenish when stock is low.

3.  Vote in ALL local elections (even the ones you don’t care about)

Here’s one that everyone should start thinking about and doing right now, regardless of whether you plan to sell in the near or distant future.  Statistics show that only X% of Hoboken’s population voted in the last counsel person election and even fewer (X%) in the last school board election.  The low turnout is due to three major factors: (1) Hoboken has a large renter population who don’t take “ownership” in what goes on around town.  That also means that many of the landlord/owners don’t live in town and don’t pay attention to local elections.  (2) People without a vested interest (like people without children for instance) don’t pay attention to issue that don’t concern them (like schools.)  (3) People are lazy and local politics bores them.

The low voter turnout means that it takes very few votes to turn an election.  Elections in Hoboken are often decided by hundreds (not thousands) of votes and sometimes fewer than that.  I’ve seen elections decided by a dozen votes.  These local elections DO MATTER, even if you don’t have kids, even if you don’t plan to stay in Hoboken for a long time and even if you don’t live in Hoboken at all.  They matter because a good school system raises property values.  That Hoboken is a charter school district is one of the driving forces that have changed Hoboken form a down-and-out neighborhood to one of the most desirable places to live in the entire tri-state area.  They matter because rent control laws may matter to whomever wants to buy your place, even if you are an owner-occupier and don’t care.  They matter because the local officials who decide what roads get paved and what parks get built may have a huge impact on your ability to sell.  So get involved. Read about the issues.  Ask questions.  If you own a home, it matters!

4.  Don’t be cheap, don’t be spendthrift

People frequently will upgrade a kitchen or bath in anticipation of a sale.  Because I am a certified staging professional they often ask me for advice before doing the renovation, and when they are done they almost always say that they should have done the work sooner while they lived there and could enjoy it.   So what are you waiting for?  If your kitchen is dated and you plan to sell in a year or two, get it updated now.  Paint the place.  Put in a new tub.  Don’t think “I’m going to sell the place so I don’t want to waste money fixing it up.”  You’re going to want to spend that money anyway, so go ahead and enjoy it a little.

BUT (there’s always a “but”) remember that if your fixing the place up to sell, you want to think like a seller.  Don’t spend thousands for a diamond-encrusted toilet seat.  You’ll not get your money back.  Don’t paint the walls silver and black because you love the Raiders.  Not all buyers will share your eccentric taste.  Spend a respectable amount for good, solid, timeless beauty and you’ll get $2 back for every $1 you spend.

5.  Don’t hire your cousin Vinnie or your friend from your kid’s play group to list your place

I can’t tell you how many times people have said to me “I read your blog religiously.  You’re the best Realtor I know.  But I just listed my place for sale with my wife’s brother.  I’d rather have used you, but it would be uncomfortable having Thanksgiving dinner with him if I didn’t use him.”

Really?  So, you think it’s going to be comfortable having dinner with him if he does a lousy job and costs you tens of thousands of dollars on your sale?  Are you going to be able to tell him that he is not doing a good job if that is the case?  Are you going to be able to fire him, or go to his broker if he isn’t delivering what was promised?  Here’s the easy way to handle it – tell him you’ve had bad experiences dealing professionally with friends and family and that you prefer to work with someone with whom you do not have a personal relationship.  They’ll not be pleased that they didn’t get the listing, but if they love you, they’ll understand and get over it.

I’ve also heard “I want to hire you, but my husband wants to use his friend from the book club.”  Many Realtors join clubs just so they can make connections with homeowners in town.  Some are excellent Realtors.  However, most sales (something like 95% of all sales) are done by a very small percentage (less than 5%) of all Realtors.  The vast majority of Realtors are people who got their real estate licenses as a way to make money in their spare time while not really working.  Chances are that’s who you are going to meet at your kid’s play group or the garden club.  Do you really want to entrust the sale of the single most valuable asset you own with someone who does a handful of transactions a year (if that) because your spouse don’t want to piss off a friend?  You’re moving away and will probably lose touch with them anyway.  That’s not a smart way to conduct business.

I write this blog as a public service.  I don’t charge anything and I don’t require you to register.  I don’t advertise my own listings and I don’t plug myself too often.  But trust me – I do this to create goodwill in the hope that it will generate business and I’m one of the very best Realtors in Hoboken.  I live in, work in and specialize in Hoboken.  I’ve made the Circle of Excellence for 11 straight years and I’ve sold more real estate each year than the one before in each and every one of those years.  Good markets and bad, I get the job done.  My background as a lawyer (couple with my husband’s experience as a CPA and my brother-in-laws assistance as an architect) makes the Turoff Team, by far, the most educated, experienced, qualified real estate professional team you’ll find ANYWHERE!  If you’re thinking of listing your home for sale, don’t be a putz.  Call us.

Posted by Lori Turoff | Currently 6 Comments »

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