2011 Feb 16th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of February 16th

Hoboken Condos Sales & Activity – Week of February 16th, 2011

Two Fun Hoboken Events

The Theater Company, a local non-profit theater group is performing the Rocky Horror Show at the Monroe Center this weekend and next.  We went to see it last weekend and it was great.

Help the Puppies (and Kittens)

Liberty Humane hosted a great night of wine & chocolate tasting at Madame Claude’s in Jersey City.   It was extremely well attended.  On March 27th they are hosting a fundraising brunch at City Bistro.  liberty

Tax Appeals

I’m still happy to send you comps if you are appealing your own taxes. Keep in mind that the City has a 15% margin of error. If your assessment does not multiply out to at least 15% over the current market value of your property, you are not likely to be successful in an appeal.  The “upper limit” multiplier for Hoboken is .3407. To see where you are at, take your assessed value and divide by .3407. For example, if your assessed value is $175,000, the result would be $513,648. Your property value must be less than $513k to win an appeal. You can get more details on tax appeals and forms at the Hudson County Tax Board website.

Is Hoboken Condo Inventory Creeping Up?

There are certainly more new listings than in past weeks but we are still well under 400 condos for sale.  Sales and dabos have been steady and more buyers may be willing to come out when the snow melts.  I certainly have seen buyers out there who are serious and well-qualified.  Many of them are still hoping to get a “deal”.  Sometimes a condo unit does come on the market with all the bells and whistles (parking, outdoor space, elevator, w/d, cac) priced at what I would consider a “value” price.  Look at 1200 Grand below – it ended up with multiple offers and sold for 10% over asking.  The deal ended up being what I would have considered to be the market value in the first place.

Here is this week’s condo sales report:

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.

Studio & 1 Bedroom Hoboken Condos:

15 new listing

1 Dabo

5 Sold

2 price reductions

140 Total Active 1BRs

Two Bedroom Hoboken Condos:

23 new listings

6 Dabos

7 sold

12 price reductions

191 Total Active 2BRs

Three Bedroom and Larger Hoboken Condos:

5 new listings

1 Dabos

2 sold.

1 price reductions

38 Total Active 3BRs

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your best source for locating every open house in Hoboken. It is the single, most complete listing available and we were the first ones to do it. We compile the information by hand from all possible sources to provide you with all the information you need in one spot. It’s posted on Friday every week.

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 [email protected] 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!

Posted by Lori Turoff | Currently Comments Off on The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of February 16th

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