The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of August 17th
Categories: Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of August 17th
The Future of US Housing
Freddie Mac, Fannie Mae and the FHA currently guarantee 90% of all home mortgages. Yesterday in Washington a conference on the future of the US Government’s role in the housing market and the roles of Fannie Mae and the other GSEs made it clear that things are going to change. Tim Geithner said “”There is a strong case to be made for a carefully designed guarantee in a reformed system, with the objective of providing a measure of stability in access to mortgages, even in future economic downturns,” but the Secretary of HUD wants the government’s footprint to be much smaller than it is presently. Bill Gross, who runs Pimco, the world’s biggest bond fund and among the largest holder of US-backed mortgage securities, on the otherhand, urged for full nationalization of housing finance. He doesn’t believe it possible for the private market to ever come back. The co-president of Wells Fargo Home Mortgage, Mike Held, said “The policy challenge will be “how to marry this government guarantee with the maximum use of private capital in a way that minimizes the risk to the taxpayer, encourages competition, and ensures no one institution is too big to fail,” Heid said.The policy challenge will be “how to marry this government guarantee with the maximum use of private capital in a way that minimizes the risk to the taxpayer, encourages competition, and ensures no one institution is too big to fail,” Heid said the policy challenge will be “how to marry this government guarantee with the maximum use of private capital in a way that minimizes the risk to the taxpayer, encourages competition, and ensures no one institution is too big to fail.” Taxpayers have paid for about $150 billion in aid to rescue Freddie & Fannie. Should this continue?
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.
- 497 active Hoboken condo units – vs. 503 last week
- 9 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 14 dabos last week
- 6 sold (0 short sales) vs. 18 sold (0 short sales) 11 reported
- 25 new listings vs. 24
- 23 price reductions vs 24
- 11 expired listing vs. 7
Studio & 1 Bedroom Hoboken Condos:
10 new listings
189 active
5 Dabos
- 501 9th (mls) listed for $400k on Jul 6; reduced to $395k on Jul 15.
- 917 Willow (mls) listed for $335k on Jul 21.
- 625 Willow (C21) listed for $319k on Jun 8.
- 80 Park (mls) listed for $349k on Jul 26.
- 300 1st St (mls) listed for $325k on Jul 22.
None Sold
8 price reductions
Two Bedroom Hoboken Condos:
12 new listings
257 total listings.
- 188 up to $600,000
- 69 $600,000 and over
3 Dabos
- 214 Park (mls) listed for $449k on Aug 2.
- 818 Jeff (mls) listed for $495k on Map 28; reduced to $489k on May 18; $479k on Jun 1.
- 1025 Maxwell (mls) listed for $809k on Feb 10; reduced to $800k on May 12.
7 sold
-
151 2nd St. (mls) listed for $424k on May 10; sold for $399k.
- 1015 Grand St. (mls) listed for $395k on Mar 18; reduced to $375k on May 20; sold for $350k.
- 253 10th St. (mls) listed for $370k on Mar 11; sold for $355k.
- 261 12th St. (mls) listed for $380k on May 13; sold for $373k.
- 416 Grand St. (mls) listed for $539k on May 5; sold for $521k.
- 41 1st St. (mls) listed for $400k on Feb 10; reduced to $380k on Mar 23; $360k on May 11; sold for $350k.
- 224 Bloom (mls) listed for $790k on Apr 22; reduced to $749k on May 5; sold for $668k.
13 price reductions
Three Bedroom and Larger Hoboken Condos:
3 new listing
51 active listings.
1 Dabo
- 304 Hudson (mls) listed $500k on May 7.
1 sold
- 700 1st St. (mls) listed for $515k on Jul 30; sold for $440k.
2 price reductions
Hoboken Condo Open Houses
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Thanks for reading and, as always, we welcome your comments!
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