Tasty Tuesday Tidbits
Categories: Crazy Ball, Neighborhoods
A New Use For An Old Hoboken Bank
There is new listing today for the first condo at the old Jefferson Trust Bank building on 1st. It’s a 2960 square foot 3 bedroom duplex under the stained glass dome for a cool $2,300,000. Can you imagine the property taxes on that? At the ‘rule of thumb’ 1.5% x the purchase price, the lucky buyer is looking at $34,000 a year! But if you hurry up and buy it now, you can pick your granite color.
A New Hoboken Watering Hole
Pilsener Haus & Biergarten will open at 1422 Grand St. in Hoboken this Fall. The owner’s vision includes “wide open space under the trees, 20-foot-long communal tables that will offer a relaxed unpretentious atmosphere that will coincide with the history of biergartens’ originating in Europe. It will be a natural cultural habit that people of all ages and statuses will gather to have a good pint of beer in a fun, and friendly environment.” Isn’t beer already part of Hoboken’s culture? They are planning to have 18 beers on tap along with 30 to 40 bottles, German sausages and live music. Oompah anyone?
A New Design for 14th Street & a New Viaduct
There will be a public meeting on September 7th where the design for the new viaduct and plans for the space under it will be unveiled. According to the press release, the finals plans include a dog run and playground, pedestrianized streets, a block of active recreation space with a multi-use court and two blocks of multi-purpose space that can be used for farmer’s markets and other community purposes. Traffic calming measures to improve pedestrian and cyclist safety will include raised sidewalks and narrowed streets. Additional East-West blocks of South Marginal Street will be closed to vehicular traffic as they currently are in front of Clearview Cinemas – which is where the meeting is being held – by the Clearview Cinema under the viaduct. Is that anything like under the boardwalk?
Hoboken Hosts “Redevelopment 101″ for Residents
Finally, City Hall is hosting a public meeting to educate the public on some crucial redevelopment matters.
“My Administration takes public input very seriously,” said Mayor Dawn Zimmer. “As we move forward with various redevelopment projects, an informed public will be in a position to offer the feedback we need to reflect our community’s vision for our City.”
The City is in the process of creating the redevelopment plan for the Western Edge and will soon be announcing a public meeting to discuss a draft of the plan. Additionally, the City is currently conducting a study to determine whether redevelopment would be appropriate for Southwest Hoboken.
Learn now and speak now, at the Multi Service Center, 124 Grand Street, on Tuesday, August 31, from 7pm to 9pm. The meeting will be taped, replayed on television, and posted on the City website.
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The Hoboken Open House Google Map for Sat. 8/21 and Sun. 8/22
Categories: Open House
Every Open House in Hoboken this weekend as compiled from the Midweek and Hoboken Reporter, the MLS, every Realtor website and email and Craigslist courtesy of the Turoff Realty Team.
When you look at the map, place markers are color coded:
- Studio & 1BRs are red
- 2BRs are green
- 3BR & Bigger are yellow
New listings are marked with a Push Pin icon.
Click on the location marker for:
- open house date
- time
- unit size
- asking price
- down arrows indicate price reductions
- link to the MLS listing
Want to know which open houses are on Saturday and which only Sunday? Click on “tools” at the top of the list and enter the word “sat” or “sun” (without the quotes) into the search box.
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 pricefor that property. Do you think it might be a conflict of interestfor 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.
Did you know that when you go to an open house you can see the property at the open house on your own and, if you like it, go back to it with your own agent?You can! So if you see something you like at an open house you might want to consider finding your own agent who does not work for the seller.Just because you walk into an open house does not mean that the hosting (seller’s) agent gets to “claim” you as his or her customer – even if you “sign in”. You are the consumer. You are spending your hard earned money on what is probably the biggest investment you will make in your life. Don’t you think you should be able to work with whom you choose?
Questions? Text us at 201 993 9500.
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The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of August 17th
Categories: Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of August 17th
The Future of US Housing
Freddie Mac, Fannie Mae and the FHA currently guarantee 90% of all home mortgages. Yesterday in Washington a conference on the future of the US Government’s role in the housing market and the roles of Fannie Mae and the other GSEs made it clear that things are going to change. Tim Geithner said “”There is a strong case to be made for a carefully designed guarantee in a reformed system, with the objective of providing a measure of stability in access to mortgages, even in future economic downturns,” but the Secretary of HUD wants the government’s footprint to be much smaller than it is presently. Bill Gross, who runs Pimco, the world’s biggest bond fund and among the largest holder of US-backed mortgage securities, on the otherhand, urged for full nationalization of housing finance. He doesn’t believe it possible for the private market to ever come back. The co-president of Wells Fargo Home Mortgage, Mike Held, said “The policy challenge will be “how to marry this government guarantee with the maximum use of private capital in a way that minimizes the risk to the taxpayer, encourages competition, and ensures no one institution is too big to fail,” Heid said.The policy challenge will be “how to marry this government guarantee with the maximum use of private capital in a way that minimizes the risk to the taxpayer, encourages competition, and ensures no one institution is too big to fail,” Heid said the policy challenge will be “how to marry this government guarantee with the maximum use of private capital in a way that minimizes the risk to the taxpayer, encourages competition, and ensures no one institution is too big to fail.” Taxpayers have paid for about $150 billion in aid to rescue Freddie & Fannie. Should this continue?
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.
- 497 active Hoboken condo units – vs. 503 last week
- 9 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 14 dabos last week
- 6 sold (0 short sales) vs. 18 sold (0 short sales) 11 reported
- 25 new listings vs. 24
- 23 price reductions vs 24
- 11 expired listing vs. 7
Studio & 1 Bedroom Hoboken Condos:
10 new listings
189 active
5 Dabos
- 501 9th (mls) listed for $400k on Jul 6; reduced to $395k on Jul 15.
- 917 Willow (mls) listed for $335k on Jul 21.
- 625 Willow (C21) listed for $319k on Jun 8.
- 80 Park (mls) listed for $349k on Jul 26.
- 300 1st St (mls) listed for $325k on Jul 22.
None Sold
8 price reductions
Two Bedroom Hoboken Condos:
12 new listings
257 total listings.
- 188 up to $600,000
- 69 $600,000 and over
3 Dabos
- 214 Park (mls) listed for $449k on Aug 2.
- 818 Jeff (mls) listed for $495k on Map 28; reduced to $489k on May 18; $479k on Jun 1.
- 1025 Maxwell (mls) listed for $809k on Feb 10; reduced to $800k on May 12.
7 sold
-
151 2nd St. (mls) listed for $424k on May 10; sold for $399k.
- 1015 Grand St. (mls) listed for $395k on Mar 18; reduced to $375k on May 20; sold for $350k.
- 253 10th St. (mls) listed for $370k on Mar 11; sold for $355k.
- 261 12th St. (mls) listed for $380k on May 13; sold for $373k.
- 416 Grand St. (mls) listed for $539k on May 5; sold for $521k.
- 41 1st St. (mls) listed for $400k on Feb 10; reduced to $380k on Mar 23; $360k on May 11; sold for $350k.
- 224 Bloom (mls) listed for $790k on Apr 22; reduced to $749k on May 5; sold for $668k.
13 price reductions
Three Bedroom and Larger Hoboken Condos:
3 new listing
51 active listings.
1 Dabo
- 304 Hudson (mls) listed $500k on May 7.
1 sold
- 700 1st St. (mls) listed for $515k on Jul 30; sold for $440k.
2 price reductions
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 info@hobokensbest.com 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!
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