For Sale By Owner? - Get a Single-Property Website to Sell Your Hoboken Real Estate For Free
Categories: For Sellers, Hoboken Condos, Hoboken Real Estate News
Free Websites for Hoboken FSBOs
Readers of this blog know that I am a firm believer in the value-added services of realtors. Nonetheless, some property owners believe they can sell their condo on their own. We call these for sale by owner listings FSBOs. There is a free service Hoboken FSBO sellers might find very beneficial. To sell real estate today, especially in a market like Hoboken, it is essential that the property be on the internet. The For Sale By Owner Real Estate Network (www.fsbore.com) offers deluxe single-property websites with up to 6 photos and description for $39.95 for a 90 day period. The FSBO seller sets up and manages the site himself. What you need to know if you are a FSBO seller if you contact the local area representative for your county, you can get one of these single property websites sites absolutely free.
There Has To Be a Catch
Why would fsbore.com give away free sites? Simple - Many FSBO sellers discover that there is a lot more to selling a home than they had originally anticipated. Ultimately, a great many of them eventually turn to a realtor for assistance when they are unsuccessful selling their property on their own. The local area fsbore.com representatives are realtors. They pay a monthly fee for the privilege of giving away these property websites to fsbo sellers. It’s a way for the agents to meet fsbo sellers and hopefully gain their trust and confidence. Should the homeowner sell their place on their own - terrific! The seller owes nothing to the agent and the agent is happy to have helped. If however, the owner seeks a realtor’s assistance, hopefully the first call they will make is to agent who gave them the free site.
How to Get a Free Site
If you’re a potential seller in Hoboken interested in getting a free property website, email your full name, the property address and a contact phone number to freefsbo@live.com and the Hudson County representative will reply with a link and the code you’ll need to activate your site. They do not send you unsolicited emails, call you, harass you or charge anything. It’s a free way to get your own website for your property. You can put the URL on all your signs and advertising. Potential buyers see a professionally done website just for your property. It’s a great way to showcase your fsbo real estate and it doesn’t cost a penny.
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MetroHomes Condos in Hoboken - How Does Your Unit Stack Up?
Categories: For Buyers, For Sellers, Hoboken Real Estate News, Market Analysis
MetroHomes in Financial Trouble?
MetroHomes has a big presence in Hoboken. Their fancy sales center is open on downtown Washington Street. Their advertising posters grace the windows of every real estate agency in town. The MetroStop project is rising by the 9th Street Light Rail stop. They built quite few buildings here and in Jersey City in the past few years. Dean Giebel, President of MetroHomes, is in partnership with Donald Trump to build the Trump project in the Powerhouse Arts district of Jersey City and one tower is just about completed. Yet much to the chagrin of local politicians, MetroHomes recently halted work on the 224 unit Esperanza in Asbury Park.
If you bought a MetroHomes unit in Hoboken, how has your investment fared? Since Hoboken condo prices rose drastically from the time pre-construction sales began in these buildings until about 2005, anyone who bought in early has done quite well. Since 2005, Hoboken condo prices have leveled off. So the chart below looks at average sales prices from 1/1/2005 to date by unit size.
Since, other than location and size of building, the units tend to be pretty similar to one another, it’s interesting to see how the prices differ.
Next up - I’ll do the same number crunching for resales at The Upper Grand, the Constitution, and some of the other well-known condos around Hoboken.
* Sales figures include only transactions on the MLS and do not include FSBOs.
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Congrats to Eli Manning of the NY Giants!
Categories: Crazy Ball, Hoboken Real Estate News
Hoboken Mann Spanks Boys!
Way to go Eli! We knew you could do it. Bring on the Packers!
For those of you who don’t already know, Eli lives in one of Hoboken’s premier residences.
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Don’t Believe What You Read - 2007 Hoboken Condo Sales Beat 2006 by All Measures
Categories: Finance, For Buyers, For Sellers, Hoboken Real Estate News, Market Analysis
Here are the facts. All numbers based on the full year. First figure represents 2007 - second figure represents 2006.
Number of Listings: 1,598 vs. 1,755
Number of Sales: 972 vs. 866
Average Asking Price: $534,088 vs. $527,679
Average Sales Price: $523,303 vs. $517,151
Discount off List ($): $10,785 vs. $10,528
Discount off List (%): 2.02% vs. 2.00%
Average Size: 989 sq. ft. vs. 1,001 sq. ft.
Average $ per Sq. Ft. $529 vs. $517
Median Sales Price: $500,000 vs. $487,750
High Sold Price: $2,350,000 vs. $1,450,000
Low Sold Price: $173,000 vs. $155,000
Total Listed: $519,133,881 vs. $456,970,460
Total Sold: $508,651,429 vs. $447,853,354
*All number are based on MLS listings and do not include for sale by owner or developer (pre-construction) transactions.
And for more good news, Artie Lange of the Howard Stern Show said on the show today that he would like to open a comedy club here and call it “HoJokin”.
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Hoboken Condo Sales - Year End Analysis 2007
Categories: For Buyers, For Sellers, Hoboken Real Estate News, Market Analysis
2007 Price per Sq. Ft. for a Hoboken Condo Exceeds ‘06.
Prices peaked in May and surpassed 2006 through the end of this year. Average price per square foot was $533 at the end of 2007, 5% higher than at the same time last year ($506).
Average Condo Sales Price Held Steady at $500,000 for Past Two Years.
March May, June, September and October 2007 were slightly higher than 2006 while the rest were slighty lower. All along, for the past two years the average price of a Hoboken condo has been hovering right around $500,000.
Statistics Show that Properties Sold Faster in ‘07 but That May Be Misleading.
Based on the MLS, it appears that most listings were sold in two months (from listing to closing).
These figures are skewed. Sometimes, a price change is entered on the MLS as if it were a new listing and as a result the number of days on market (”DOM”) resets back to zero. When that occurs, the average number of days will look lower than it really was. Given my knowledge of the Hoboken real estate market over the past 10 years, I find it more likely that price reductions of this nature drove the “DOM” number down.
Sellers often don’t take the advice of their agent and insist on listing their property above market rate. After the unit lingers on the market with no offers and little interest, the owner drops the price and then the property sells.
Condo Sales Volume is Seasonal
The monthly number of closed sales in ‘07 was similar to last year. Both had a high point in the Spring, and decreased later in the year. In ‘06 the number bounced back at the very end of the year but this year it did not. Of course, the number of properties actually on the market each month impacts how many sell.
Condo Listing Drop During the Summer and Holidays
Both ‘07 and ‘06 saw a significant drop in the number of properties listed at the end of the year (the holiday season) and during the summer (vacation time). There were actually fewer units listed this year than last. If you’re buying, you’re likely to have the greatest amount of inventory to look at in the Spring. If you’re selling, list in December and avoid the competition.
In my next post, I’ll take a look at the absorption rate by month to see what that tells us. In the meantime,
Happy New Year!
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