Wednesday, May 30, 2012

Hoboken Weekly Stats, Ending May 30, 2012


















28 Properties Came on the Market This Week vs 41 last week  
231 GRAND ST, Hoboken, NJ 
461 4TH ST, Hoboken, NJ 
607 1ST ST, Hoboken, NJ 
450 7TH ST, Hoboken, NJ 
816 PARK AVE, Hoboken, NJ 
328 GARDEN ST, Hoboken, NJ 
816 PARK AVE, Hoboken, NJ 
532 MONROE ST, Hoboken, NJ 
402 9TH ST, Hoboken, NJ 
110 WILLOW AVE, Hoboken, NJ 
1500 HUDSON ST, Hoboken, NJ 
1500 HUDSON ST, Hoboken, NJ 
1125 MAXWELL LANE, Hoboken, NJ 

10 Properties Sold This Week vs 10 Last Week    
273 total active listings are on the market as of the date of this post. 227 are under contract.



 


The Absorption rate this week is 27.30 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 10 closings this week and we have 273 active listings.  So at the current rate of 10 closings per week, it would take 27.30 weeks (273/10) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.

The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.

 Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.


Hoboken Stats Public PDF  
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/

Open House and New Listings Map from Hoboken Real Estate Monitor.com, May 30, 2012



The Open House and New Listings Map from Hoboken Real Estate Monitor.com is compiled from a variety of sources:  the Multiple Listing Service (MLS), Mid-Week, Hoboken & Jersey City Reporter, Realtor websites, Realtor to Realtor email blasts, Craig's List and more.  It's a complete inventory.

We post the MLS and Midweek Reporter open houses on Wednesday.  Through the rest of the week , we will be checking Craig's list, realtor sites, email blast, the MLS again later in the week so check back.

We 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.  It's so new, it's only available on the real time MLS database.

Click this link for the map.  Select which open house day you would like (Sat, Sunday, etc), number of bedrooms and enter the city name (Hoboken, Jersey City) and hit enter.  

Hoboken Real Estate Monitor's Open House Map

If you would like all of the open houses, just select "open house" without entering anything else and hit enter.

If you would like a PDF of the results to take with you as your schedule for your house hunting trip, click on the the PDF icon after your results come up and then select print.

You can review the results in the map or list view.  By clicking on the map icon or address in list view, you will get full listing details for that listing.

Open houses are a great way to learn about the neighborhood without having to engage a realtor.  

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




Tuesday, May 29, 2012

Decorating with Mirrors.... Classic to Nouveau





In October 1789, a group of French revolutionaries stormed the gates of Versailles and immediately set about shattering the mirrors on Marie Antoinette's bedroom walls. This gesture was symbolic in more ways than one. On one level, it targeted the queen herself, disdained for the frivolity and self-absorption that her mirrors had, throughout her lavish reign, ostensibly abetted. (Marie Antoinette escaped her persecutors, but not for long. In 1793, while a prisoner of the new French Republic, she was categorically denied access to a mirror.) In smashing the queen's looking glasses, the insurgents revealed their hatred for a public figure too captivated by her own image to notice her subjects' poverty and suffering. Like Narcissus, she had fallen in love with her own reflection, and, like him, she would have to pay.



On another level, the destruction of the royal mirrors represented an attack on an entire aristocratic way of life. The mirror, at least in Europe, had long been associated with the refinement of the court. Although metal mirrors had existed in China and Egypt for millennia, the predecessor of today's glass mirror was developed in Renaissance Venice, where glassblowing techniques first inspired mirror makers to use glass instead of polished steel. With its superior reflectivity and its light-catching dazzle, the Venetian-glass mirror became a must-have luxury item among the European elite. In the late 16th century, Catherine de' Medici had 119 such mirrors installed in her palace apartments, in Paris; the resultant cabinet des miroirs (mirror chamber) set the new standard for interior decor in France and abroad. Its shimmering walls had the threefold benefit of seemingly expanding a small space, intensifying the brilliance of candlelight, and refracting ad infinitum the glitter of the queen's and her courtiers' jewelry. "In their enchanted chambers," wrote one poet of the cabinets des miroirs that soon graced countless noble abodes, "fabric no longer has a place. / On all the walls on all four sides / Encrusted mirrors here show their face."




The vogue for decorating with reflective glass reached its peak under Louis XIV, whose personal collection of treasures included 563 mirrors, and who in 1682 unveiled a new architectural wonder: the Palace of Versailles's Hall of Mirrors. There, 17 gigantic false window casements, each covered with 21 panes of mirrored glass, faced 17 real windows looking out over the grounds, thereby, one guest reported, "expand[ing] this hall a million times over so it seem[ed] almost infinite." The Hall of Mirrors was a supreme and irrefutable expression of the king's incomparable might.

Like mirrors today, those of the prerevolutionary era were not just decorative but practical as well: They enabled people to get a better look at themselves. "O sweet mirror, created in order to know that which our own gaze cannot see!" So declaimed one 16th-century author, marveling at how this new invention allowed man, for the first time, to view more of himself than his hands and feet. In the mirror, one could finally see, and try to control, what others saw. And so dressing for others emerged as an essential feature of civilized society. To well-born Europeans, a dedication to grooming and fashion showed a basic respect for their peers -- not to mention their sovereign.




When the mob decimated Marie Antoinette's mirrors, its target then was the self-involvement and superficiality of a whole regime. The revolution's leaders promoted a society based not on outward appearances but on internal qualities such as virtue, justice, and compassion. Accordingly, after 1789, orders dwindled at France's royal mirror manufactory, founded under Louis XIV, and it seemed as though a glittering era had come to an end.

This development was, however, incomplete and short-lived. Incomplete because by the end of the 18th century, technological advances had begun to make mirrors cheaper and more accessible. (The kindly maid who served Marie Antoinette in prison, for example, bought a tiny cardboard-framed mirror for a few pennies from a street vendor and smuggled it in to the queen.) And short-lived because mirrors soon became ubiquitous. Nowadays, decorating a room with a mirror and consulting its shining surface may seem essentially democratic activities, yet they belong to an age that was anything but -- an age when mirrors were as rarefied, rich, and coveted as the palaces in which they hung.


Looking At Mirrors

- Mirrors first appeared around 3000 B.C., in Egypt. They were often made of polished bronze, were usually slightly convex or concave, and were about the same size as modern handheld mirrors.

- Polished metals were used to make mirrors until the Middle Ages.

- Glassmakers in Germany and the Netherlands created convex mirrors that were exported to England as early as the 14th century. They were made from forest glass, a thick and slightly greenish glass blown into globes and lined with lead.

- A system devised by the French allowed for large glass plates. Until the 1770s, however, large mirrors in England and colonial America were composed of small plates stacked on top of one another.

- In the 18th century, the glass used for mirrors was handmade and tended to be rather thick and uneven. By the 19th century, modernized methods of production ensured thin sheets of glass for mirrors. (Below left, new mirror with beveled edge)


- Convex mirrors in English and American dining rooms let butlers view the entire room while remaining out of sight.

- As the metal backing on old mirrors oxidizes, the reflection becomes darker, giving them a softer look. (Below left, old glass with new mirror backing)


- Standard mirrors consist of clear glass with a backing of silver, copper, and paint and come in thicknesses of 3/32, 1/8, 3/16, and 1/4 inch. The largest standard size is 65 by 84 inches; other sizes can be custom made.

- Ultraclear mirrors use glass with a reduced iron content and no tinge of green.
- Antiqued mirrors have coatings or tints applied to make them look as if they have deteriorated with age. (Below left, lightly antiqued mirror; below right, antique mirror with pronounced aging)

How to Clean Mirrors and Frames1. Wipe glass with a microfiber cloth dampened with plain water.
2. For streaks, use a microfiber cloth dampened with a mixture of one part white vinegar and one part water, with one or two drops of dishwashing liquid.
3. Always spray water or cleaner on the cloth rather than the mirror. (If moisture seeps under the frame, it can create spots.)
4. Use a clean, dry natural-bristle paintbrush on intricately carved frames. Starting at top of frame, flick dust downward. For gilded frames, use a sable brush, which is softer than a regular paintbrush and less likely to damage gilding.

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

www.hobokenrealestatemonitor.com

donna@donnaantonucci.com



Thursday, May 24, 2012

JC, Downtown Weekly Stats, Ending May 23, 2012




















8 Properties came on the Market This Week vs 15 Last week

389 WASHINGTON ST, JERSEY CITY, NJ
234 10TH ST, JERSEY CITY, NJ
105 GREENE ST, JERSEY CITY, NJ
159 2ND ST, JERSEY CITY, NJ
331 VARICK ST, JERSEY CITY, NJ
212 6TH ST, JERSEY CITY, NJ
1 SHORELANE, JERSEY CITY, NJ
160 COLES ST, JERSEY CITY, NJ







The Absorption rate this week is 22.36 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 11 closings this week and we have 246 active listings.  So at the current rate of 11 closings per week, it would take 22.36 weeks (246/11) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.
The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.
 
See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.
JC Stats Public PDF
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/


Hoboken Weekly Stats, Ending May 23, 2012




28 Properties Came on the Market This Week vs 41 last week

811 PARK AVE, Hoboken, NJ
313 JACKSON ST, Hoboken, NJ
1210 WASHINGTON ST, Hoboken, NJ
815 PARK AVE, Hoboken, NJ
403 BLOOMFIELD ST, Hoboken, NJ
518 PARK AVE, Hoboken, NJ
77 MONROE ST, Hoboken, NJ
610 NEWARK ST, Hoboken, NJ
70 ADAMS ST, Hoboken, NJ
1450 WASHINGTON ST, Hoboken, NJ
914 GARDEN ST, Hoboken, NJ
700 1ST ST, Hoboken, NJ
1315 WASHINGTON ST, Hoboken, NJ
914 GARDEN ST, Hoboken, NJ
109 JACKSON ST, Hoboken, NJ
717 MADISON ST, Hoboken, NJ
122 MADISON ST, Hoboken, NJ
1331 GRAND ST, Hoboken, NJ
321 ADAMS ST, Hoboken, NJ
219-221 GRAND ST, Hoboken, NJ
625 JEFFERSON ST, Hoboken, NJ
321 ADAMS ST, Hoboken, NJ
1200 GRAND ST, Hoboken, NJ
300 NEWARK ST, Hoboken, NJ
83 MONROE ST, Hoboken, NJ
1500 WASHINGTON ST, Hoboken, NJ
1025 MAXWELL LANE, Hoboken, NJ

931 WILLOW AVE, Hoboken, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details


18 Properties Went into Contract This Week vs 14 last week
10 Properties Sold This Week vs 11 Last Week  
274 total active listings are on the market as of the date of this post. 229 are under contract.



The Absorption rate this week is 27.40 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 10 closings this week and we have 274 active listings.  So at the current rate of 10 closings per week, it would take 27.40 weeks (274/10) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.

The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.

Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.


Hoboken Stats Public PDF  
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/

Wednesday, May 23, 2012

Open House and New Listings Map from Hoboken Real Estate Monitor.com, May 23, 2012



The Open House and New Listings Map from Hoboken Real Estate Monitor.com is compiled from a variety of sources:  the Multiple Listing Service (MLS), Mid-Week, Hoboken & Jersey City Reporter, Realtor websites, Realtor to Realtor email blasts, Craig's List and more.  It's a complete inventory.

We post the MLS and Midweek Reporter open houses on Wednesday.  Through the rest of the week , we will be checking Craig's list, realtor sites, email blast, the MLS again later in the week so check back.

We 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.  It's so new, it's only available on the real time MLS database.

Click this link for the map.  Select which open house day you would like (Sat, Sunday, etc), number of bedrooms and enter the city name (Hoboken, Jersey City) and hit enter.  

Hoboken Real Estate Monitor's Open House Map

If you would like all of the open houses, just select "open house" without entering anything else and hit enter.

If you would like a PDF of the results to take with you as your schedule for your house hunting trip, click on the the PDF icon after your results come up and then select print.

You can review the results in the map or list view.  By clicking on the map icon or address in list view, you will get full listing details for that listing.

Open houses are a great way to learn about the neighborhood without having to engage a realtor.  

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




Tuesday, May 22, 2012

Getting Pre-Approved Focuses Your Search and Saves Time




Pre-qualifying Focuses Your Search and Saves Time

Sellers today really don't want to accept an offer unless they can be assured the buyers can qualify for a mortgage and pay the closing costs. It's easy to get pre-qualified.

You can call Lending Tree, Chase (1-800-Chase-24), Wells Fargo and many other banks right over the phone and give them some basic personal information such as your income; debt such as auto loans and credit card balances, how much money you have for a down payment and closing costs and they can quickly calculate the total monthly amount that you can spend on housing. When you get that number, remember that has to cover principal, interest, taxes and insurance. If you are buying a condo the structural insurance is typically covered in the monthly maintenance fee. Be sure to add that in. Here is a quick example:

Lets say you have $100,000 for a down payment $12,000 for closing costs. You earn $125,000 a year and have an auto loan with a balance of $10,000 that has a monthly payment of $90 a month. Let's say you are buying a $500,000 condo with $100,000 down at 6% on a 30 year fixed rate loan. The monthly principal and interest will be $2,398. Let's say the monthly maintenance is $182 and the unit has $5,000 in annual real estaate taxes or $417/month. Adding the monthly tax with the monthly maintence and principal and interest, we get a total housing payment of $2,996.

If you make $125,000 per year that's $10,416 per month. Adding your auto loan payment of $90 to the total expected housing costs, we get $3,086. Your monthly income divided by your monthly debt is called your debt to income ratio. Banks look at this to determine if you can afford a given mortgage payemnt. $3,086/10,416 = 29.6%. This is well below what is allowable for conventional and FHA mortgages.

Lenders offering conventional loans will typically lend up to 29% debt to income for the housing payment to income and 36% debt to income including housing and all other debts. So in our example, the debt to income ration for just the housing payment of $2,996 over the monthly income is 28.7% and 29.6% including the auto loan. So, our client in this example can afford a $500,000 condo.

To get pre-approved vs. pre-qualified you need to authorize the bank to pull your credit bureau so they can verify your FICO score and all of your debts. They may also ask you for a pay-stub and W-2 and will issue a pre-approval letter. Pre-approvals are worth more when you are making an offer as the seller will know that you have good credit and have disclosed to the bank all of your debts. Unfortunately, some people don't remember to disclose all of their credit card balances or disclose that auto loan that they co-signed for their brother or they forgot all about how they were a little sloppy paying their student loans and didn't realize it would show in a low FICO score.

Knowing this information, you can go to a realtor and only look at what you can afford. It helps set your expectations and saves time....

If you found any of this confusing, I would be glad to run numbers for you. I was a loan officer and underwriter at Chase in the early '90s and underwrote over 3,000 purchase and refinance transactions.

Donna
donna@donnaantonucci.com

201-240-6832



Friday, May 18, 2012

JC, Downtown Weekly Stats, Ending May 16, 2012




















15 Properties Came on the Market This Week  vs 20 Last week

225 ST PAULS AVE , JERSEY CITY, NJ
18 BRIGHT ST, JERSEY CITY, NJ
20 2ND ST, JERSEY CITY, NJ
264 9TH ST, JERSEY CITY, NJ
45 RIVER DR SOUTH, JERSEY CITY, NJ
689 LUIS M MARIN BLVD, JERSEY CITY, NJ
96 COLES ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
510 1/2 MONMOUTH ST, JERSEY CITY, NJ
159 2ND ST, JERSEY CITY, NJ
2 2ND ST, JERSEY CITY, NJ
234 10TH ST, JERSEY CITY, NJ
2 2ND ST, JERSEY CITY, NJ
268 4TH ST, JERSEY CITY, NJ

There are 265 Active Listings on the Market in Downtown Jersey City.
165 units are under contract as of today.





The Absorption rate this week is 22.08 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 12 closings this week and we have 265 active listings.  So at the current rate of 12 closings per week, it would take 22.08 weeks (265/12) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.

Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

 

JC Stats Public PDF
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/


Thursday, May 17, 2012

Hoboken Weekly Stats, Ending May 16, 2012



41 Properties Came on the Market This Week vs 4 last week

100 CLINTON ST, Hoboken, NJ
222 MADISONST, Hoboken, NJ
214JEFFERSON ST, Hoboken, NJ
317 WILLOWAVE, Hoboken, NJ
519 WILLOWAVE, Hoboken, NJ
228BLOOMFIELD ST, Hoboken, NJ
95 WILLOWAVE, Hoboken, NJ
933 HUDSONST,Hoboken, NJ
1016WASHINGTON ST, Hoboken, NJ
500 HUDSONST,Hoboken, NJ
805 PARKAVE, Hoboken, NJ
800 JACKSONST, Hoboken, NJ
202 PARKAVE, Hoboken, NJ
603 1ST ST,Hoboken, NJ
423JEFFERSON ST,Hoboken, NJ
403BLOOMFIELD ST, Hoboken, NJ
300 NEWARKST, Hoboken, NJ
125 MONROEST, Hoboken, NJ
827 GARDEN ST, Hoboken, NJ
721-723MADISON ST, Hoboken, NJ
827 GARDEN ST, Hoboken, NJ
1200 GRAND ST, Hoboken, NJ
1028 HUDSONST, Hoboken, NJ
650 2ND ST, Hoboken, NJ
827 GARDENST, Hoboken, NJ
700 1ST ST, Hoboken, NJ
827 GARDEN ST, Hoboken, NJ
83 GRAND ST, Hoboken, NJ
415 NEWARKST, Hoboken, NJ
407 ADAMS ST,Hoboken, NJ
325 ADAMS ST, Hoboken, NJ
84 JEFFERSON ST, Hoboken, NJ
95 GARDEN ST, Hoboken, NJ
503 BLOOMFIELD ST, Hoboken, NJ
1107 GRAND ST, Hoboken, NJ
1025 MAXWELL LANE, Hoboken, NJ
1125MAXWELL LANE, Hoboken, NJ
160 11TH ST, Hoboken, NJ


704 CLINTON ST, Hoboken, NJ, This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
206-208 PARK AVE, Hoboken, NJ, This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
74 GARDEN ST, Hoboken, NJ, This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
11 Properties Sold This Week vs 0  Last Week  
279 total active listings are on the market as of the date of this post. 225 are under contract.



The Absorption rate this week is 25.36 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 11 closings this week and we have 279 active listings.  So at the current rate of 11 closings per week, it would take 25.36 weeks (279/11) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.


Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.
See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.

Hoboken Stats Public PDF

Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832 begin_of_the_skype_highlighting            201-240-6832      end_of_the_skype_highlighting

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/