Hoboken Condos

Hoboken Condos Sales & Activity – Week of March 9th, 2011

Many of you know that I’m a cyclist for both transportation and fun, and that we ran a bike touring company, La Corsa Tours, for many years.  So this is a subject near and dear to my heart.  If you would all be so kind as to take two minutes and fill out a little survey to help Bike Hoboken I would greatly appreciate it.  You can learn more about what we’re up to at BikeHoboken.com.

There were only 2 properties that needed a price reduction before going under contract this week.  I was personally involved in 2 situations involving multiple bids in recent days and had a third property go under contract before I could even show it.  Does that mean prices are hitting the sweet spot?  Maybe.

I found it interesting to read NJ.com’s piece about the improvement in Hudson County real estate.  They didn’t provice much in the way of substantive support for their opinion.  The February numbers would seem to indicate otherwise.

Finally, happy Mardi Gras (I know, I’m a day late).  Laissez le bon temps rouler!

Tax Appeals – Time is Running Out!

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.

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.

• 379 active Hoboken condo units – vs. 366 last week
• 13 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 15 dabos last week
• 4 sold vs. 7 sold
• 35 new listings vs. 32
• 20 price reductions vs 12
• 5 expired listing vs. 12

Studio & 1 Bedroom Hoboken Condos:

14 new listing

4 Dabos

• 456 9th (mls) listed on Jan 17 for $369k
• 1025 Maxwell Lane (mls) listed on feb 21 for $725k
• 527 Jefferson (mls) listed on Feb 11 for $235k
• 60 Madison (mls) listed on Nov 23 for $239k

None Sold

7 price reductions

143 Total Active 1BRs

Two Bedroom Hoboken Condos:

16 new listings

9 Dabos

• 326 Monroe (mls) listed on Dec 2 for $499k; reduced on Feb 22 to $489k
• 717-719 Madison (mls) listed on Jan 17 for $487k
• 2 Constitution (mls) listed on Dec 29 for $565k
• 517 Adams (mls) listed on Sept 11 for $689k
• 1125 Maxwell Lane (mls) listed on Dec 28 for $960k
• 515 Monroe (mls) listed on Nov 23 for $459k; reduced on Jan 12 to $440k
• 825 Washington (mls) listed on Feb 9 for $425k
• 915 Madison (mls) listed on Dec 16 for $468k
• 1023 Clinton (C21) listed on Feb 9 for $545k

4 sold

• 627 Willow (mls) listed on Oct 13 for $289k; reduced on Nov 19 to $278.5k; sold for $260k
• 1325 Adams (mls) listed on May 6 for $515k; reduced on Oct 13 to $495k ; reduced on Dec 10 to $459.9k; sold for $450k
• 261 2nd (C21) listed on Apr 14 for $639k; reduced on Jun 25 to $599k; reduced on Oct 5 to $589k; sold for $535k
• 533 Adams (mls) listed on Nov 2 for $585k; sold for $540k

11 price reductions

197 Total Active 2BRs

Three Bedroom and Larger Hoboken Condos:

5 new listings

No DABOs

None Sold

2 price reductions

39 Total Active 3BRs

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 [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!

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your single best source for locating every open house in Hoboken. It’s posted on Friday every week. The info is updated weekly. If your google search seems to pull up an older version, click on the title link to get the most current map. Like this report, due to MLS regulations, to receive the map with the actual links, you will have to request it using the request form on the post. It only takes a second.

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.

A word about that – if you have an ongoing relationship with another agent we are not going to email you listings. You can ask your own agent to do that. So what is an ongoing relationship? Is that not up to you? Have you been working with another agent on a regular basis? More importantly, are you happy with that agent’s service? If so,we respect that relationship.

If all you did is attent an open house or you’ve seen several properties with several different agents, that’s not an ongoing relationship. Despite what some agents in town would like to have you believe, simply showing a buyer a single property, or even a few, does not a relationship make. You are the consumer – you get to decide with whom you wish to work. If you think the agent who hosted an open house or showed you a property is incompetent or does not meet your needs why would you ever use that person as your agent? Unless you’ve signed a “buyers agency agreement”, which is highly unusual in Hoboken, find an agent you like, trust and whose advice you respect. It’s your money, no?

For more information you can always contact us at 201 993 9500.

Thanks for reading and, as always, we welcome your comments!