2019 Aug 27th

Will iBuyers Take Over the Hoboken Real Estate Market?

The latest thing in real estate is the iBuyer.  The “i” stands for “instant”.  No, they are not in our market – yet.  Opendoor, one of the major players in the market is recently valued at $3.8 billion.  That’s right, billion.  It seems that iBuyers are the darlings of venture capitalists and they’ve got money to burn.  The big players, besides Opendoor, are Zillow (of course), Offerpad, Redfin and, soon, Keller Williams.  What all these companies have in common, and what makes them iBuyers, besides mountains of cash, is the ability to make an “instant offer” on your property.  Rather than working as traditional agents with a particular buyer, these firms come in, make an estimate on the valuation of your home based on an algorithm (think Zestimate), and offer to purchase it directly from you, quickly and for cash.  It is estimated that sellers take about a 15% discount for such speed and convenience in the sales process.

To get an idea of the growth of this market, look at this interactive map.  In just a few years, the iBuyer market has exploded in places like Atlanta, Charlotte, Raleigh, Orlando, Tampa, Dallas, Phoenix, Las Vegas and LA.  It’s only a matter of time before they head here.  Get ready, folks.  We are in for some serious market disruption.

Posted by Lori Turoff | Currently No Comments »

2019 Aug 21st

The Hoboken Weekly Wednesday Wrap Up for the Week Ending August 21st

Week ending Aug. 21th, 2019

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  •  238 active Hoboken listings
  •  218 Condo & Co-op listings
  • 20 Single-family and Multi-family  

This Week’s Residential Property Sales & Activity:

Studio & 1-Bedroom Properties

8 New

4 Pending.

2 Sold

2-Bedroom Properties

7 New

4 Pending

8 sold

3-Bedroom & larger Properties

2 New

3 Pending

  • 214 Jackson #2, listed 5/30 for $699k.
  • 800 Jackson PH2, listed 7/10 for $998k.
  • 324 Hudson #1, listed 5/2 for $2.1mil.

5 Sold

  • 1410 Grand 401, listed 5/31 for $1.3mil, sold for $1.29mil.
  • 115 Grand 4F, listed 1/29 for $1.33mil, sold for $1.32mil.
  • 502 Madison 301, listed 6/26 for $1.48mil, sold for $1.4mil.
  • 1125 Maxwell 1122, listed 5/13 for $1.7mil, sold for $1.68mil.
  • 1024 Adams 400, listed 7/31 for $1.8mil, sold for $1.8mil.

The information provided in this private transmission is only for the personal, non-commercial use of you, the consumer.  It may not be reproduced or distributed in any manner.  It may not be used for any purpose other than to identify prospective properties you the consumers may be interested in purchasing or renting.

Sales numbers rounded up for convenience.  Information is deemed to be reliable but not guaranteed.

Posted by Lori Turoff | Currently No Comments »

2019 Aug 14th

The Hoboken Weekly Wednesday Wrap Up for the Week Ending August 14th.

Week ending Aug. 14th, 2019

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  •  257 active Hoboken listings
  •  234 Condo & Co-op listings
  • 20 Single-family and Multi-family  

This Week’s Residential Property Sales & Activity:


Studio & 1-Bedroom Properties

10 New

None Pending.

4 Sold


2-Bedroom Properties

13 New

8 Pending

7 sold


3-Bedroom & larger Properties

5 New

3 Pending

  • 201 14th St #1, listed 7/9 for $1.48mil.
  • 407 Jeff #2, listed 3/11 for $2.1mil.
  • 1125 Maxwell Th8, listed 3/8 for $2.75mil.

4 Sold

  • 210 Adams #1, listed 5/16 for $539k, sold for $532k.
  • 88 Clinton #3, listed 3/27 for $760k, sold for $750k.
  • 650 2nd 3B, listed 4/12 for $999k, sold for $1.1mil.
  • 727 Monroe 206, listed 6/5 for $1.35mil, sold for $1.26mil.

The information provided in this private transmission is only for the personal, non-commercial use of you, the consumer.  It may not be reproduced or distributed in any manner.  It may not be used for any purpose other than to identify prospective properties you the consumers may be interested in purchasing or renting.

Sales numbers rounded up for convenience.  Information is deemed to be reliable but not guaranteed.

Posted by Lori Turoff | Currently No Comments »

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