Monday, October 31, 2011

Price Per Square Foot by Bedroom from Q1 2006 to Q3 2011


This is the chart that everyone likes.  It shows the price per square foot by neighborhood for Hoboken overall.  Click on the graph for a larger view.

Notice that the price per square foot for 3 bedrooms is trending down when you look at it from the peak in Q4 2007.   There was a noticeable uptick between Q4 2008 and Q1 2009 but that is likely attributable to low volume.  Keep in mind, the market crashed in October 2008 so volume after that was minimal.  The vast majority of what closed directly after the crash was sales that were under binding contract before the crash.  Anyone who had an out right after the crash bailed - well overall anyway.  There was another noticeable tick up from Q1 to Q2 2010.  Many attribute this to the halo effect of the first time home buyer tax credit.  Most 3 bedrooms were beyond the price limit allowed under the program but since the program injected hope into the market with a lift in activity, it seemed to have had an impact on 3 bedrooms as well. In Q4 2010, there is a decline in price per square feet. In Q1 & Q2 2011 Prices were up. In Q3 2011 Prices were up and almost equal to Q3 2010.

Notice that the one and 2 bedrooms largely follow the same downward slope as the 3 bedrooms with lesser variation over time.   There is much more volume in Hoboken in one and 2 bedrooms with 2 bedrooms roughly 2/3 larger than one bedroom sales in terms of units. Q3 2010 was lowest price sale period for 2 bedrooms. In Q1 2011 there was a little increase in prices. Q3 2011 was highest price for 2 bedroom sales.
Q3 2007 was highest price sale period for 1 bedroom sales.  After that there was a downfall in every quarter. Q2 2009 was lowest price sale quarter for 1 bedroom sales. After Q2 2009 there is a consistency in sale price. In Q1 2011 again there is a downfall in sale prices. Q1, Q2 and Q3 2011 were lowest price sale periods for 1 bedroom sales.
 
The number of studios and 4 bedroom sales in Hoboken is small in absolute terms so even one purchase with a very high or low price per square foot can swing the average.   So, I largely discount this as an indicator.

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832


donnaantonucci@gmail.com

http://www.hobokenrealestatemonitor.com/
http://www.donnaantonucci.com/

Thursday, October 27, 2011

Hoboken Weekly Real estate Statistics Report With New & Active Listing Details - Oct 27th 2011



Did you know that when you sign up for the private view of Hoboken Real Estate Monitor's Weekly statistics you get links by quadrant to all the new and  active listings for the week. They are the Hudson county Multiple Listing Service listings used by realtors which have more information than what's available on typical property search sites.

Sign up today by clicking on any of the links & submitting your email address.  An auto-email will be sent to you with a link to the private view of the statistics. Be sure to sign up for weekly updates and get the stats and the private view of the map each week.

Click here for the member only view of the weeks statistics with active MLS links.

Use the weekly statistics to track the market.  Bid on your new home with confidence!

See the price per square foot by neighborhood, by the number of bedrooms.  What have units sold for?  What are they listed for today?

Weekly Stats Public 2009

Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com

http://www.hobokenrealestatemonitor.com/

http:www.donnaantonucci.com




Wednesday, October 26, 2011

Weekly Updates - Open House and New Listings Map for JC Downtown & Hoboken by HobokenRealestateMonitor.com




We will be checking Craig's list, realtor sites, the MLS again later in the week so check back.

We now have listings for For Sale by Owner and Non-Internet listings in the private view of the map.  Sign up today and get the most complete, easy to use open house and new listings map covering both Hoboken and downtown Jersey City. If you get a listing on the private view that lacks a link look on the right for the For Sale By Owner and Non-Internet Listings icon.  We will be integrating this over the next week or so.


Hoboken Real Estate Monitor's Open House Map

Walk around Hoboken on a Saturday or Sunday afternoon, looking at real estate. Get an idea of what your dollar can buy, in what part of town, with what amenity level. The map is refreshed through Thursday afternoon so be sure to stop by again before your weekend search. Sort by price, number of bedrooms or day of week! By subscribing, you will be able to not only get the basics - price, number of bedrooms, and street location but will get the unit number, and the full Multiple Listing Service listing with photos, square footage and more. . . .

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832


donnaantonucci@gmail.com

hhttp://www.hobokenrealestatemonitor.com/

http://www.donnaantonucci.com/



Hoboken's Rent Control Ordinance - What should you consider when buying an investment property.



Rent Control is a hot topic these days, especialy since the city is the defendent of a class action law suit by a group of Landlords over the administration of the rent control ordinance.  I just want to provide some basic information that as a buyer you should be aware of.  I am not an attorney.  Please consult your attorney when it comes to these matters.  Hopefully, this article will give you an idea of what you should ask when buying an investment property. 

Hoboken has a rent control ordinance: 

Rent Control Ordinance

Again, this ordinance is under scrutiny and frankly, litigation, as mentioned above.  There is a class action law suit being levied against the city because of how the Ordinance has been administered and many believe it needs to change.

When buying a property as an investment or even if you are buying it to live in you should consider what rent you allowed to charge.  In very basic terms, Hoboken's rent control ordinance says that all Landlords must register rents they charge with the city each year.  They are allowed to increase the base rent based on the Consumer Price Index (CPI) schedule that can be obtained from the Hoboken Rent Leveling Board via an Open Public Records Act Request (OPRA) form.

OPRA Form

Read more about  How rents can be increased after the jump..


Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832
donnaantonucci@gmail.com
http://www.hobokenrealestatemonitor.com/
http://www.hobokenrealestatevalue.com/
http://www.donnaantonucci.com/



Monday, October 24, 2011

Signing a Lease? Things to Consider including Hoboken's Rent Control Law


Have you ever heard the term a "Tenant's lease" or a "Landlords lease"?  Ever wonder what that means?

A Tenant's Lease is written with favorable terms to the Tenant and a Landlord's Lease is written with terms that are favorable to the Landlord.

Here are some things each side should consider when writing a lease:

Complying with the rules and regulations of the Condo Association:

A Landlord may want to make the Tenant liable for complying with all rules and regulations of the condominium association which personally I find very reasonable.  I see this one missed a lot and Landlords get saddled with fines because Tenants are not complying with the Association rules yet the Landlord has no right to pass the fine on. 

I also manage properties and recently one of my buildings put in an air conditioner removal policy.  The new regulation passed by the Board states that the owners are responsible for removing all window and wall air conditioners between the months of October thru March.  All unit owners are fined $150 per month if they leave an air conditioner in during this period.  I think this is a reasonable way for the building to save money on heat and to get everyone to comply.

The Landlord is responsible for the actions of his/her Tenants.  The way to ensure that the Tenant comply, is to pass the fine onto the Tenant by way of the lease.  If it's not in lease, the landlord will have a much harder time passing on the fine and perhaps compliance.  A term in the lease to the effect, "The Tenant must comply with all rules and regulations of the condominium association and all resulting fines and consequences of non compliance", should be included in the lease to hold tenants accountable.

Landlord's tightly, perhaps too tightly, controlling use:

Landlord terms that I find unreasonable include such clauses that limit or control the number of guests a Tenant can have.  I have seen leases where the Landlord tries to control the number of visitors.  I personally think that if you are renting a place, you should be able to have guests, at will, as long as you don't go over the maximum capacity of the unit.  Yes, if they stay more than a given number of weeks, I suppose it can create greater wear and tear.  Part of deciding to rent it to a particular person or persons, may be the number of people who go on the lease initially.  That is, wear and tear may be a factor in the Landlord's decision to rent the property to you.   Perhaps it's ok to state that you can't have a guest for more than a certain number of consecutive weeks.  Again, just read your lease and be aware of what you are signing.

Passing off maintenance responsibilities to the Tenant:

I have also seen Landlord's try to pass some repairs and maintenance off onto the Tenant - repairs under a certain dollar amount and/or maintenance of a backyard, snow removal or garbage disposal.  The Tenant should read the lease carefully before signing.  At a minimum, you want to make sure you understand if you are going to be accountable for these things.  You may be amenable to these things as it might result in a favorable rent and if you are living in the unit it may be far more convenient to take care of these things than the Landlord + you won't have someone walking through your house when you are not home.  It could be easier for you just to fix smaller items.   Having said that many prefer to rent so that they don't have to think about such things.  Just make sure you understand what you are agreeing to.


Selling a property with Tenants in it:

An item that I see Landlord's neglect in a lease is protecting themselves in the event they want to sell the property with Tenants in it.  A big hesitation of potential buyers of an investment property is buying a property with existing Tenants.  Because rarely do Landlords report the payment history of a Tenant to one of the credit bureaus, there is no way that a prospective buyer can find out, through a 3rd party, how well a Tenant paid the rent or in general what kind of payment risk he/she presents.  One thing Landlord's should consider when writing a lease is to put in a clause that gives them the right to pull the Tenant's credit bureau at any time for credit monitoring purposes.  They should also write in the lease that the Landlord has the right to share the credit bureau with any prospective buyer.  To make it reasonable, the Landlord should be restricted to sharing the credit bureau only to prospective buyers who have signed a contract of sale indicating the buyer is serious and is in attorney review which in fact is the due diligence phase of a purchase.   The Landlord may want to reserve the right to evict the Tenant should the Tenant's Fair Isaacs Company (FICO) score go below a stated level. 



If the Landlord wants to write in such a clause please be careful to consult a knowledgeable attorney so that you not violating any regulations.   For example, under the new Dodd-Frank Recovery Act, a bank cannot charge a credit user for what they call "off us default".  In other words, you can not charge more just because a customer has paid poorly on other debts and/or his/her FICO has gone down.  Consult a knowledgeable attorney to understand if and how this impacts rental payments.  You may or may not be able to charge a surcharge (not technically rent as rent is controlled by rent control but an additional risk fee for being a higher risk than when the Tenant originally signed the lease)  if the FICO score has gone down below a level set in the lease.  The Frank-Dodd legislation was targeted towards credit card companies and may or may not preclude Landlords from using this technique.  Again, this is new ground.  Consult a lawyer.

Personally, I think a Landlord should be able to evict based on a deteriorating payment history on other debts.  The eviction process is long and the quality of the Tenants impacts the value of the property.  With a credit card, a bank can just close the account if they feel that the credit card holder is too risky even if they can no longer surcharge for poorer "off us" payment history.  It would be an interesting case if it were ever brought to court. 

The key is, if you have provided the ability to pull and share a bureau with a prospective buyer AND you have good paying Tenants (good paying on other debts) you will increase your chances tremendously of being able to sell the property with Tenants in it and therefore support a better price.  If a place has poor paying Tenants or there is no way of validating that they are good paying Tenants and that are unwilling to leave voluntarily and a Landlord really must sell, ultimately, it will be reflected in the price.

This is a sensitive subject given Hoboken's history documented in the documentary "Delivered Vacant".  I believe it's, among other reasons, the inability of a prospective buyer to assess risk that compelled Landlords to push Tenants out before selling it.  It's a shame as many of the Tenants may be just fine and a small provision in a lease may make it feasible to assess that risk.  The Landlord would not have to go through a period of vacancy to sell either and there would be less Tenants harassed to leave.  We are all better off if we create value.  Vacancy doesn't help anyone.  Some property taxes on rentals are contingent on rent receipts.  The city collects less on properties with vacancies and the rest of us have to make up the budget gap. 

Consider a clause that creates this ability, you may create tremendous value.  

Late Fees: 

Unless the property is under a bank holding company, the Landlord cannot charge interest.  This is why you always see a flat fee late charge on leases (or at least you should).   Again check your lease.  If you see that the Landlord is charging interest for late payments, you may want to leave it and then challenge it if you are charged.  Or, you can point out during negotiations that the Landlord cannot charge interest (unless the property is owned by a bank who can charge interest).  Again, consult an attorney. 



Clauses that create fees on top of rent:


Move-in and Application fees:

Keep in mind that many condo associations have "move in fees" and/or application fees in the case of co-ops.  Move-in fees go to cover damage caused by moving in and out - things like paying for touch up painting, carpet spills, or even staff that have to manage a move.  You see this more in larger buildings.  Be aware that the Landlord via the lease may make the Tenant accountable for these charges.

Pet Deposits:



I have also seen pet deposits/fees.  This is a tough one.  They seem like a way of circumventing the law about charging a maximum of 1.5 months of security deposit.  However, if an animal does damage it's usually a lot of money.  If a cat creates an ammonia smell it can not only permeate the entire apartment but sometimes the hallway as well.  The only way to get rid of it is to change any carpet and paint.  The same is true if a dog chews through a carpet or wall.  The damage can be quite high and a typical pet nor regular security deposit can't nearly cover the damage yet it feels like a superfluous fee.

Be aware that sometimes it's a deposit that the Tenant can get back if no damage was done.  More often, I am seeing this as a non refundable fee.  The idea is that it goes into a kitty so when that one apartment has damage caused by a pet, it's enough money to cover it.  Again, read carefully.  If it's a one time fee, you won't get it back. 
 
I have seen pet deposits range from anywhere from $150 to $400.   Having said this, paying an extra deposit for a pet may open up a lot of buildings that wouldn't allow pets otherwise and given the real impact of damage, this may be reasonable to pay.  Again, just be aware of it and always read your lease thoroughly.


Manipulating rent control:

In my article on rent control, I have mentioned how some Landlords may use a parcel not controlled by rent control such as a parking spot to adjust the effective rent of the apartment + amenity to market.  I used the example of a parking spot.  For example, let's say the market rent on a given unit before the crash was $2,700 with an additional $200 for parking.  After the crash, the market will only bare $2,550 for the unit.   Instead of reducing the rent to $2,550, the Landlord offered the rent at $2,700 and reduced the parking to $50.  Tenants need to be aware that when the market comes back, the landlord can adjust up the rent on the parking spot all at once.  Likewise, since it's a separate parcel, you don't have to take the parking if that occurs.  Presumably, however, the Tenant rented an apartment with a parking spot because he/she has a car.  A car is a luxury and unfortunately, this is one of the consequences of owning a car in an urban environment.  Tenants should consider things like using Corner Cars or Zip cars to reduce costs and give themselves more flexibility. 

I have also seen this technique used with storage space.  A Landlord is renting an old building superintendent space - a basement unit.  Along with the tiny apartment, the Landlord rents a sizable storage space in basement to the same Tenant that he uses as a living room (he cannot sleep in it).  The storage space is not subject to rent control and can be adjusted at will.  If the Tenant does not want to agree to the increased rent on the storage space, he doesn't have to rent the space however his effective living space would be cut in half and the building could rent that storage space out to anyone who wants to rent it.

Technically, the same technique can be used with things like refrigerators.  That is, the landlord is not obligated by law to provide a fridge.  (In the state of NJ, they have to provide a stove for safety reasons but no other appliances)  They obviously often do to make his/her unit attractive in the marketplace.  They could charge a separate rent for the fridge on top of the rent.  Renting kitchen appliances is, in fact, common in places like Canada and Europe since appliances have to be replaced over time and are considered durable but consumable goods.  The Tenant is free to say he/she doesn't want to rent the fridge and then what is the Landlord going to do with the refrigerator??  If renting the apartment were contingent on renting the fridge, it very well may be ruled as apartment rent and may not hold up in a court of law.  The only way to know if it would hold water is to have it contested in court.  Your guess is as good as mine on how a judge would rule on this. 

This is just some food for thought based on my observations.  As always, you should consult an attorney on all of these matters.

Hire a good agent:

All of this is good reason to hire an agent as a "Tenants Agent".  Agents are sometimes criticized for not pro-actively raising these issues.  Renters need to understand the different types of agency.  If you are not signing an agreement where you commit to using a particular agent for a given period of time, you are interacting with the agent as a transaction broker ie asking for assistance with the completing the standard state approved lease form (that doesn't cover custom terms) and the underlying legal assumption is that the Tenant has done his/her own due diligence.  An agent is not obligated to proactively raise these concerns and it's cost prohibited to do so without a commitment from the Tenant to use the Agent exclusively.  Many Agents don't want to work with Tenants because of how disloyal (perhaps naively) they can be.  A renter goes from agency to agency looking for rentals and education on the process.  Unless there is a commitment, the agent can't afford to provide all of this guidance for free.  They need to move quickly to paying clients. 

Commit to an Agent by signing an agreement and they will not only willingly provide guidance, they will be legally obligated to do so.

The rent control article tells you more about Hoboken's Rent Control Ordinance.  It also has a legal description of what the differences are between the types of agency.

Here is the article on Hoboken Rent Control.  
Rent Control Article


Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com
http://www.hobokenrealestatemonitor.com/




Donna Antonucci Hoboken Real Estate





Donna Antonucci Hoboken Real Estate






Donna Antonucci



Donna Antonucci









Friday, October 21, 2011

Downtown Jersey City Weekly Real estate Trends Report With New & Active Listing Details



Downtown Jersey City Weekly statistics from Hoboken Real Estate Monitor.

Hoboken's Weekly Statistics will continue to be posted on Thursday mornings.  Downtown JC stats will be posted on Fridays.   In addition to posting them, the latest version will be available through the Weekly Statistics Icon on the right vertical nav bar. 






Here is the link to the Downtown Jersey City statistics:


Downtown JC Stats


The statistics contain links to the listings that compiled the price per square foot so you can see exactly what amenity and finish level are included.  They contain live links to all Active, Under Contract and Sold listings.

Each week the new listings for the week will be in separate links by neighborhood so you can quickly see what came on the market in a given week.  

The Downtown Jersey City Statistics are broken down  at the neighborhood level:
  • Newport/Pavonia
  • Hamilton Square
  • Harsmis Cove
  • Powerhouse District
  • Van Vorst Park
  • Liberty Harbor
  • Harborside
  • Paulus Hook
  • Western Edge

The first rule in real estate is location, location, location.  By breaking down the downtown areas into neighborhoods, you get a much finer understanding of the price per square in the specific area where you are looking .

If you use price per square foot as a measure, it really tells you which areas are more sought after than others.  The more desirable - convenient to public transportation, restaurants and shops, etc. - the higher the price per square foot.  Likewise, if you are willing to go to an up and coming area v an established neighborhood, you can get more space for your money. 


JC Stats Public


Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com
http://www.hobokenrealestatemonitor.com/


Thursday, October 20, 2011

Hoboken Weekly Real estate Stats Report With New & Active Listing Details - Oct 20th 2011



Did you know that when you sign up for the private view of Hoboken Real Estate Monitor's Weekly statistics you get links by quadrant to all the new and  active listings for the week. They are the Hudson county Multiple Listing Service listings used by realtors which have more information than what's available on typical property search sites.

Sign up today by clicking on any of the links & submitting your email address.  An auto-email will be sent to you with a link to the private view of the statistics. Be sure to sign up for weekly updates and get the stats and the private view of the map each week.

Click here for the member only view of the weeks statistics with active MLS links.

Use the weekly statistics to track the market.  Bid on your new home with confidence!

See the price per square foot by neighborhood, by the number of bedrooms.  What have units sold for?  What are they listed for today?

Weekly Stats Public 2009

Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com

http://www.hobokenrealestatemonitor.com/

http:www.donnaantonucci.com




Wednesday, October 19, 2011

Weekly Updates - Open House and New Listings Map for Hoboken & JC Downtown by HobokenRealestateMonitor.com




We will be checking Craig's list, realtor sites, the MLS again later in the week so check back.

We now have listings for For Sale by Owner and Non-Internet listings in the private view of the map.  Sign up today and get the most complete, easy to use open house and new listings map covering both Hoboken and downtown Jersey City. If you get a listing on the private view that lacks a link look on the right for the For Sale By Owner and Non-Internet Listings icon.  We will be integrating this over the next week or so.


Hoboken Real Estate Monitor's Open House Map

Walk around Hoboken on a Saturday or Sunday afternoon, looking at real estate. Get an idea of what your dollar can buy, in what part of town, with what amenity level. The map is refreshed through Thursday afternoon so be sure to stop by again before your weekend search. Sort by price, number of bedrooms or day of week! By subscribing, you will be able to not only get the basics - price, number of bedrooms, and street location but will get the unit number, and the full Multiple Listing Service listing with photos, square footage and more. . . .

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832


donnaantonucci@gmail.com

hhttp://www.hobokenrealestatemonitor.com/

http://www.donnaantonucci.com/



Tuesday, October 18, 2011

Fashion Color Trends for 2012 - See What's Going to be New Next Year....


Color Trends for 2012 will reflect nature, will be more muted and multi-dimensioned.  Update you home with the latest color trends.  Watch a brief video on what the trends are for next year. 


Information Provided by  Donna Antonucci
Prudential Castle Point Realty
201-240-6832
donnaantonucci@gmail.com


www.hobokenrealestatemonitor.com



Monday, October 17, 2011

Wet Water Pump Opened Today to Help the SW Flooding Issues.



Courtesy of Hoboken Patch.

Local officials officially opened the down town wet weather pump, which is supposed to alleviate Hoboken's long standing flooding problem, especially in the southwestern part of town.

The pump will be operational in about two weeks, said North Hudson Sewage Authority Chairman Richard Wolff. The second outfall of the pump—a large pipe that is supposed to help pump the water to the river—is almost cleaned out. The outfall of the pump had to be cleaned out manually, which caused a delay of the opening earlier this year.

Officials broke ground on the project in April, 2010. The pump—the city's first wet weather pump—cost roughly $18 million, which was paid for by the NHSA with the help of a $5 million grant from the federal government.

Mayor Dawn Zimmer and Weehawken Mayor Richard Turner as well Assemblyman Sean Connors, Hudson County Freeholder Anthony Romano and several members of the NHSA were present on Monday afternoon.

An initial plan called for four wet weahter pumps to completely solve the flooding problem. Zimmer said on Monday that four pumps will not be necessary. She said that she wants to install other green initiatives, such as green roofs.

In next year's budget, Zimmer added, she wants to hire a firm that will evaulate the city's green initiatives and can help develop an inclusive plan.

The outside of the pump station was designed by John Nastasi of Nastasi Architects and houses the generator that powers the two pumps that can process 50 million gallons each.

The facade, Nastasi said, is supposed to fit in with the background, he explained. The copper on the facade will turn green over time, he said, at the same time as the tower at the Lackawanna Terminal.
With the extreme rainfall of the last few months, including Hurricane Irene, the city has been especially unlucky and the southwestern part of Hoboken especially hard hit with flooding.

If the pump had been operational during the hurricane, Wolff said, it would not have been able to prevent all flooding. It would have, however, made the water go down quicker.

"We still have work to do," Zimmer said. "But today is a great day for Hoboken."

Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com

www.hobokenrealestatemonitor.com


Friday, October 14, 2011

Weekly Jersey City Downtown Real estate Trends Report With New & Active Listing Details



Downtown Jersey City Weekly statistics from Hoboken Real Estate Monitor.

Hoboken's Weekly Statistics will continue to be posted on Thursday mornings.  Downtown JC stats will be posted on Fridays.   In addition to posting them, the latest version will be available through the Weekly Statistics Icon on the right vertical nav bar. 






Here is the link to the Downtown Jersey City statistics:


Downtown JC Stats


The statistics contain links to the listings that compiled the price per square foot so you can see exactly what amenity and finish level are included.  They contain live links to all Active, Under Contract and Sold listings.

Each week the new listings for the week will be in separate links by neighborhood so you can quickly see what came on the market in a given week.  

The Downtown Jersey City Statistics are broken down  at the neighborhood level:
  • Newport/Pavonia
  • Hamilton Square
  • Harsmis Cove
  • Powerhouse District
  • Van Vorst Park
  • Liberty Harbor
  • Harborside
  • Paulus Hook
  • Western Edge

The first rule in real estate is location, location, location.  By breaking down the downtown areas into neighborhoods, you get a much finer understanding of the price per square in the specific area where you are looking .

If you use price per square foot as a measure, it really tells you which areas are more sought after than others.  The more desirable - convenient to public transportation, restaurants and shops, etc. - the higher the price per square foot.  Likewise, if you are willing to go to an up and coming area v an established neighborhood, you can get more space for your money. 


JC Stats Public


Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com
http://www.hobokenrealestatemonitor.com/


Thursday, October 13, 2011

Weekly Updates - Hoboken Real estate Trends Report With New & Active Listing Details



Did you know that when you sign up for the private view of Hoboken Real Estate Monitor's Weekly statistics you get links by quadrant to all the new and  active listings for the week. They are the Hudson county Multiple Listing Service listings used by realtors which have more information than what's available on typical property search sites.

Sign up today by clicking on any of the links & submitting your email address.  An auto-email will be sent to you with a link to the private view of the statistics. Be sure to sign up for weekly updates and get the stats and the private view of the map each week.

Click here for the member only view of the weeks statistics with active MLS links.

Use the weekly statistics to track the market.  Bid on your new home with confidence!

See the price per square foot by neighborhood, by the number of bedrooms.  What have units sold for?  What are they listed for today?

Weekly Stats Public 2009

Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com

http://www.hobokenrealestatemonitor.com/

http:www.donnaantonucci.com




Wednesday, October 12, 2011

Weekly Open House and New Listings Map for Hoboken & JC Downtown by HobokenRealestateMonitor.com




We will be checking Craig's list, realtor sites, the MLS again later in the week so check back.

We now have listings for For Sale by Owner and Non-Internet listings in the private view of the map.  Sign up today and get the most complete, easy to use open house and new listings map covering both Hoboken and downtown Jersey City. If you get a listing on the private view that lacks a link look on the right for the For Sale By Owner and Non-Internet Listings icon.  We will be integrating this over the next week or so.


Hoboken Real Estate Monitor's Open House Map

Walk around Hoboken on a Saturday or Sunday afternoon, looking at real estate. Get an idea of what your dollar can buy, in what part of town, with what amenity level. The map is refreshed through Thursday afternoon so be sure to stop by again before your weekend search. Sort by price, number of bedrooms or day of week! By subscribing, you will be able to not only get the basics - price, number of bedrooms, and street location but will get the unit number, and the full Multiple Listing Service listing with photos, square footage and more. . . .

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832


donnaantonucci@gmail.com

hhttp://www.hobokenrealestatemonitor.com/

http://www.donnaantonucci.com/



Tuesday, October 11, 2011

Q1 v Q2, Discount off Original Price, Avg Square Footage by Bedroom, Avg Number of Days from Listing to Contract

As a realtor in town, I feel compelled to know my market and take an analytic focus on the local market conditions.  Real estate is extremely localized and each market behaves differently.  Hoboken continues to do better relative to other areas.  In fact, it has had the least amount of decline in the state but it is not insulated from our sluggish economy.



According to Summer Market Analysis, in first quarter home sale was normal. Year took a slow start. January was lowest home sales month in first quarter and March was highest home sales month. 

2 bedroom unit homes sales were on first place in the whole quarter. In the whole first quarter 1 bedroom unit homes were having highest price per square feet and average discount. 2 bedroom units were on second place. 




Now look at the second quarter of 2011. 2nd quarter had the highest homes sale of year.
Second quarter 2 bed units got highest sales and 1 bed room unit got highest average discount. Average price per square feet was a little high in second quarter. Average homes price were having mix trend in second quarter.




July and August were lowest home sales months. In July and August, 1 bedroom unit sale was on first place and got highest discount on average.   1 bedroom unit homes got highest average price per square feet.


Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com
http://www.hobokenrealestatemonitor.com/


Friday, October 7, 2011

Jersey City Downtown Weekly Updated Trends Report With New & Active Listing Details



Downtown Jersey City Weekly statistics from Hoboken Real Estate Monitor.

Hoboken's Weekly Statistics will continue to be posted on Thursday mornings.  Downtown JC stats will be posted on Fridays.   In addition to posting them, the latest version will be available through the Weekly Statistics Icon on the right vertical nav bar. 






Here is the link to the Downtown Jersey City statistics:


Downtown JC Stats


The statistics contain links to the listings that compiled the price per square foot so you can see exactly what amenity and finish level are included.  They contain live links to all Active, Under Contract and Sold listings.

Each week the new listings for the week will be in separate links by neighborhood so you can quickly see what came on the market in a given week.  

The Downtown Jersey City Statistics are broken down  at the neighborhood level:
  • Newport/Pavonia
  • Hamilton Square
  • Harsmis Cove
  • Powerhouse District
  • Van Vorst Park
  • Liberty Harbor
  • Harborside
  • Paulus Hook
  • Western Edge

The first rule in real estate is location, location, location.  By breaking down the downtown areas into neighborhoods, you get a much finer understanding of the price per square in the specific area where you are looking .

If you use price per square foot as a measure, it really tells you which areas are more sought after than others.  The more desirable - convenient to public transportation, restaurants and shops, etc. - the higher the price per square foot.  Likewise, if you are willing to go to an up and coming area v an established neighborhood, you can get more space for your money. 



Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com
http://www.hobokenrealestatemonitor.com/


Thursday, October 6, 2011

Hoboken Weekly Updates - Real estate Stats Report With New & Active Listing Details



Did you know that when you sign up for the private view of Hoboken Real Estate Monitor's Weekly statistics you get links by quadrant to all the new and  active listings for the week. They are the Hudson county Multiple Listing Service listings used by realtors which have more information than what's available on typical property search sites.

Sign up today by clicking on any of the links & submitting your email address.  An auto-email will be sent to you with a link to the private view of the statistics. Be sure to sign up for weekly updates and get the stats and the private view of the map each week.

Click here for this weeks statistics.

Use the weekly statistics to track the market.  Bid on your new home with confidence!

See the price per square foot by neighborhood, by the number of bedrooms.  What have units sold for?  What are they listed for today?

Information Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donnaantonucci@gmail.com

http://www.hobokenrealestatemonitor.com/

http:www.donnaantonucci.com




Wednesday, October 5, 2011

Open House and New Listings Map for Hoboken & Jersey City Downtown by HobokenRealestateMonitor.com




We will be checking Craig's list, realtor sites, the MLS again later in the week so check back.

We now have listings for For Sale by Owner and Non-Internet listings in the private view of the map.  Sign up today and get the most complete, easy to use open house and new listings map covering both Hoboken and downtown Jersey City. If you get a listing on the private view that lacks a link look on the right for the For Sale By Owner and Non-Internet Listings icon.  We will be integrating this over the next week or so.


Hoboken Real Estate Monitor's Open House Map

Walk around Hoboken on a Saturday or Sunday afternoon, looking at real estate. Get an idea of what your dollar can buy, in what part of town, with what amenity level. The map is refreshed through Thursday afternoon so be sure to stop by again before your weekend search. Sort by price, number of bedrooms or day of week! By subscribing, you will be able to not only get the basics - price, number of bedrooms, and street location but will get the unit number, and the full Multiple Listing Service listing with photos, square footage and more. . . .

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832


donnaantonucci@gmail.com

hhttp://www.hobokenrealestatemonitor.com/

http://www.donnaantonucci.com/



Monday, October 3, 2011

Summer Market Analysis Report for Hoboken $ Volume by Contract Date Unit Close in 2011





As a realtor in town, I feel compelled to know my market and take an analytic focus on the local market conditions.  Real estate is extremely localized and each market behaves differently.  Hoboken continues to do better relative to other areas.  In fact, it has had the least amount of decline in the state but it is not insulated from our sluggish economy.  

Click to Enlarge
 
According to Summer Market Analysis i.e. May, June and July were peak months for home sale closings. In June and July 2011, sales were on peak for all types of homes.

Take a look at the volume graph above.  Condo sale closings were more than one family and 2-4 family homes. Trend is same throughout January to August 2011. This is not a surprise year. In Hoboken, Condo sale is usually more than one family 2-4 family home. 

Now look at the condo sale closings for 2011. Year started with slow sale closings. February was lowest sale closing month. But after that condo sales closing increased every month. May, June and July were peak sale closing months (as expected). After that, there were slight declines in sale closing.

Single family home sales closing were on second place but there were no consistency in sale closing. There were no sale closing in February and April but May and June were top sale closing months (as expected)
2-4 family home sale closing, Year started with slow sales closings. There was a huge surprise in May. There were no sales closing in May 2011 but after that there were a huge change in 2-4 family home sale closing.
Here is a chart for month to month sale closings from Jan 2011 to August 2011

Click to Enlarge
 
This is part third of my 4 part series on market conditions.  Tune in next week for the next installment of the market analysis through October 11th.


Information Provided by Donna Antonucci
Prudential Castle Point Realty
donnaantonucci@gmail.com
201-240-6832


www.hobokenrealestatemonitor.com