2015 Aug 26th

Are They Negotiable? When It Comes to Hoboken Condos, Not Much.

Can I get that Hoboken condo for less than asking price?

I get asked this question a lot.  Buyers see a list price and think they are going to be able to buy the property for significantly less than the asking price.  Some still think they are going to get “a deal”.  Overall, Hoboken condos are selling for more than the asking price.  Why is that, you might wonder?  Because there is simply not adequate inventory of nice properties to fill the constant demand for them.

Final and Best – Again

Almost every desirable condo – you know the ones, the two or more bedrooms, good light, washer/dryers and nice kitchens, in buildings with elevators and parking, or the one bedrooms with charm near the PATH, sells for over asking.  It has become the new normal in Hoboken.  Sellers receive offers from multiple buyers.  At their agent’s advice, the seller will typically call for all buyer’s “final and best” offer by a certain deadline and choose which one they will accept.  Smart agents advise the buyer that a bid significantly over the list price is what will secure the property in these multiple bid situations.  No, the buyers don’t have any idea what each other is bidding 99% of the time.

Making Snap Decisions

Which leads to another issue.  A buyer basically has to walk into a property and make an instant decision as to whether to make an offer.  There is no more looking at a bunch of nice places, going home to discuss and think about it and then a week later making an offer.  If the property is really nice, it will most likely be gone by that time.  But what buyer is ready to bid on the first place they see?  Very few.  Which is why it is so crucial for buyers to go and look at as many places as possible.  This gives you a basis from which to make a value judgement.  So when you do see that great place, you have something against which to measure its worth and make an informed decision to buy.

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Posted by Lori Turoff | Currently 2 Comments »

2015 Aug 21st

The Hoboken & Downtown JC Open House Google Map for Saturday, August 22nd & Sunday, August 23rd, 2015

The Original and Best Open House Google Map!

Courtesy of the Turoff Realty Team

No need to register! No form to fill out!

Just click on the map below to see every Open House in Hoboken this weekend:

hoboken-open-house

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 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 sort the list of open houses in ascending or descending order.

Click on the location marker for:

Posted by Nathan Turoff | Currently No Comments »

2015 Aug 19th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of August 19th, 2015

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As of August 19, 2015:

  • 141 active Hoboken listings
  • 118 Condo & Co-op listings, compared to 117 last week
  • 15 Single-family listings, compared to 18 last week
  • 8 Multi-family listings, compared to 10 last week

This Week’s Residential Property Sales & Activity:

  • 15 DABOs (Deposit Accepted By Owner and Under Contract) vs 17 last week
  • 15 Sold vs 27 last week
  • 17 New listings vs. 20 last week
  • 5 Price changes vs. 9 last week
  • 1 expired listing vs. 2 last week

Studio & 1-Bedroom Properties

29 Active listings

5 New listings

1 Price change

8 DABOs

  • 133 Madison St., 4R listed Jun 16 for $315K;
  • 406 Grand St., 1 listed July 14 for $325K;
  • 126 Garden St., 3 listed July 26 for $380K;
  • 93 Garden St., 4 listed Aug 13 for $469K;
  • 1500 Hudson St., 4K listed Jun 19 for $560K; reduced July 16 to $550K;
  • 1450 Washington St., 802 listed Jun 18 for $695K;
  • 1450 Washington St., 218 listed Jul 8 for $699K;
  • 1450 Washington St., 1101 listed Jun 29 for $780K; reduced July 24 to $749K;

3 Sold

  • 929 Garden St., 5L listed Jun 11 for $425K; sold for $415K;
  • 205 Park Ave., 8 listed Jun 9 for $419K; sold for $426K;
  • 1500 Washington St., 8G listed Jun 18 for $539K; increased Jun 24 to $549K; sold for $545K;

2-Bedroom Properties

61 Active listings

10 New listings

2 Price changes

4 DABOs

  • 940 Bloomfield St., 4 listed July 29 for $595K;
  • 600 Hudson St., 5A listed July 15 for $875K;
  • 909 Willow Ave., 1 listed July 17 for $899K;
  • 402 9th St., E5H listed Aug 1 for $960K;
8 Sold
  • 360 1st St., 5 listed April 8 for $525K; sold for $560K;
  • 700 1st St., 4K listed Jun 17 for $589K; sold for $605K;
  • 1037 Park Ave., 2 listed May 14 for $625K; sold for $650K;
  • 1314 Hudson St., 12 listed Jun 11 for $750K; sold for $750K;
  • 1450 Washington St., 420 listed May 18 for $875K; sold for $875K;
  • 1500 Hudson St., 4V listed May 11 for $950K; reduced Jun 2 to $925K; sold for $890K;
  • 70 Adams St., 5K listed May 28 for $900K; sold for $895K;
  • 1500 Washington St., 3D listed May 9 for $969K; sold for $950K;

3-Bedroom & Larger Properties

28 Active listings

2 New listings

2 Price changes

8 Multi-Family Active listings

15 Single-Family Active listings

3 DABOs

  • 557 2nd St., 7 listed July 20 for $1.295M;
  • 136 Park Ave., listed Feb 11 for $2.895M; reduced April 9 to $2.750M; reduced May 1 to $2.595M; reduced Jun 18 to $2.495M;
  • 71-73 Monroe St., listed Jun 22 for $3.0M;

4 Sold

Posted by Nathan Turoff | Currently No Comments »

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