2017 Apr 4th

The Moving Average Sales Prices of Hoboken Condos

First, you may wonder what the importance of moving averages is to sales prices.  Simply put, they smooth out the short term, month-to-month fluctuations that are inherent in the market.  Many of you who work in finance are familiar with their use and different forms.

Here is the 3 and 6 month moving average chart.

No question that there is a downturn in the past few months. Too soon to venture a theory as to what is driving it but I’ll stay on it. Now if any of you quants out there have a formula/model I could borrow to do a weighted moving average I would be forever grateful!


Posted by Lori Turoff | Currently 13 Comments »

2017 Apr 3rd

The March Hoboken Condo Sales Results

What a strange month. Clearly down from prior months.  Almost even with year ago in absolute terms but up on a per square foot basis. Moreover, 1-Bedroom prices soared. More coming onto the market but they’re selling as fast as they are listed. I’ll post the rolling averages shortly. Stay tuned.

Posted by Lori Turoff | Currently No Comments »

2017 Apr 2nd

What Else Won’t Your Hoboken Agent Do For You?

I received some troubling feedback on a showing of one of my listings the other day.  It said, “We didn’t make it because of the hurdles needed to get the keys.”

Alarmed by what I read, thinking the keys may have been lost or the electronic fob needed to open the building door not functioning, I immediately called the agent to ask what had happened.

Now mind you, this is a million dollar property.  Even a brand new agent with the most stingy split stands to earn at least $12,362.50 (by my calculations) if they sell this property.  According to the MLS, this particular agent has never sold or rented a property in all of Hudson County.  You’d think she would be a bit hungry for some business.  The agent’s response left me speechless.

“I had to go to the office to get the keys.”

My office is exactly 3 blocks from the property.  3 short blocks.  And it wasn’t even raining.  When agents receive confirmation for a requested appointment, they are told the key is in the office.

Yes, sometimes to show properties in Hoboken, you need to pick keys up at the brokerage office.  That is your job.  If that is too big a hurdle for you, and you are too lazy to pick up a key to show a million dollar property, you need to find another job.

In law school, I learned a phrase – Caveat Emptor.  It means “Buyer Beware”.  Buyer Beware has taken on a whole new meaning here.  If your agent can’t be bothered to pick up the keys to show you a property, what else won’t she be willing to do for you?


Posted by Lori Turoff | Currently 3 Comments »

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