2011 Mar 16th

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

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

I’ve heard from various sources, like CNN Money, that rent hikes are on the way.  It will be interesting to see how that plays out in Hoboken with its archaic rent control rules.  At least the City Council amended them to impose a reasonable statute of limitations.  Meanwhile, it looks like sellers have lowered prices enough that things are starting to sell with very few price reductions.  The warm weather is just around the corner.  Let’s see if that brings the buyers out in force.

Tax Appeals – Time is Running Out!

I’m still happy to send you comps if you are appealing your own taxes.  Let me be really clear about something, though.  If your taxes are not too high, you shouldn’t file an appeal. I’ve gotten several requests from people whose assessment is well below what it should be.  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 based on the comps 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.

Studio & 1 Bedroom Hoboken Condos:

8 new listing

4 Dabos

1 Sold

6 price reductions

143 Total Active 1BRs

Two Bedroom Hoboken Condos:

15 new listings

7 Dabos

4 sold

12 price reductions

197 Total Active 2BRs

Three Bedroom and Larger Hoboken Condos:

2 new listings

No DABOs

1 Sold

3 price reductions

39 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 16 Comments »

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