Friday, March 29, 2013

Weekend Open House Line up, March 30 - 31, 2013



Here is the Weekend Open House Line Up....

Check each Friday for the full list.  We will continue to post the Open House Map on Wednesday which will have the MLS and Mid-Week Reporter Open Houses.  Thursday and Friday we add more from realtor email blasts and by combing over 40 sites.


234 10TH ST - $2,695 Saturday 10 AM-12 PM








234 10TH ST (Unit 316) - $459,000 Saturday 10 AM-12 PM




234 10TH ST (Unit 603) - $527,000 Saturday 10 AM-12 PM

234 10TH ST (Unit 308) - $455,000 Saturday 10 AM-12 PM






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.  


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

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
(O)2012160909
Cell 201-240-6832










JC, Downtown Weekly Stats, Ending March 27, 2013


PPSQFT calculated using condos only.  However, only 1, 2, and 3+ bedrooms are shown on this chart.  The difference between 100% and the total percentage shown by neighborhood equals the excluded studios.  1-4 families are excluded from this analysis.




19 Properties came on the Market This Week vs 26 Last week
265 CUSTER AVE, JERSEY CITY, NJ
264 3RD ST, JERSEY CITY, NJ
227 CHRISTOPHER COLUMBUS DR, JERSEY CITY, NJ
444 JERSEY AVE, JERSEY CITY, NJ
264 9TH ST, JERSEY CITY, NJ
291 8TH ST, JERSEY CITY, NJ
42 COLES ST, JERSEY CITY, NJ
102 CHRISTOPHER COLUMBUS DR, JERSEY CITY, NJ
105 GREENE ST, JERSEY CITY, NJ
88 MORGAN ST, JERSEY CITY, NJ
140 ESSEX ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ
201 MARIN BLVD, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ

49 COLES ST, JERSEY CITY, NJ.This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
343 4TH ST, JERSEY CITY, NJ.This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
689 LUIS M MARIN BLVD, JERSEY CITY, NJ.This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ.This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
689 MARIN BLVD, JERSEY CITY, NJ.This listing is so new, listing details are only available to subscribed users. Please log on to see listing details


133 total active listings are on the market as of the date of this post. 186 are under contract.

(You must log-into the search engine and search pending and sold listings to see these property details)
Hoboken Real Estate Monitor.com now offers Pending and Sold Listings.  





The Absorption rate this week is 13.30 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 133 active listings.  So at the current rate of 15closings per week, it would take 13.30 weeks (133/10) 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.

Provided by Donna Antonucci
Prudential Castle Point Realty
(O) 201-216-0909
Cell 201-240-6832



Thursday, March 28, 2013

Hoboken Weekly Stats, Ending March 27, 2013


(PPSQFT calculated using condos only.  However, only 1, 2, and 3+ bedrooms are shown on this chart.  The difference between 100% and the total percentage shown by neighborhood equals the excluded studios.  1-4 families are excluded from this analysis.)

45 Properties came on the Market This Week vs32 last week
322 MADISON ST, HOBOKEN, NJ
330 MONROE ST, HOBOKEN, NJ
1107 WASHINGTON ST, HOBOKEN, NJ
1015 WASHINGTON ST, HOBOKEN, NJ
738 WASHINGTON ST, HOBOKEN, NJ
74 GARDEN ST, HOBOKEN, NJ
1000 HUDSON ST, HOBOKEN, NJ
659 1ST ST, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ
933 WILLOW AVE, HOBOKEN, NJ
312 MADISON ST, HOBOKEN, NJ
217 BLOOMFIELD ST, HOBOKEN, NJ
744 PARK AVE, HOBOKEN, NJ
1200 GRAND ST, HOBOKEN, NJ
729 MADISON ST, HOBOKEN, NJ
915 MADISON ST, HOBOKEN, NJ
300 NEWARK ST, HOBOKEN, NJ
812 GARDEN ST, HOBOKEN, NJ
205 ADAMS ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
70 ADAMS ST, HOBOKEN, NJ
830 MONROE ST, HOBOKEN, NJ
601 OBSERVER HIGHWAY, HOBOKEN, NJ
501 9TH ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
83 MONROE ST, HOBOKEN, NJ
83 MONROE ST, HOBOKEN, NJ
82 CLINTON ST, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ
213 CLINTON ST, HOBOKEN, NJ
262 7TH ST, HOBOKEN, NJ
825 ADAMS ST, HOBOKEN, NJ
825 ADAMS ST, HOBOKEN, NJ
231 MADISON ST, HOBOKEN, NJ
231 MADISON ST, HOBOKEN, NJ
122 PARK AVE, HOBOKEN, NJ
511 MADISON ST, HOBOKEN, NJ
1249 BLOOMFIELD ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ

717 WILLOW AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
520 PARK AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
215 GRAND ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
911 WILLOW AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
261 4TH ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
510 PARK AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

196 total active listings are on the market as of the date of this post. 236 are under contract.
(You must log-into the search engine and search pending and sold listings to see these property details)

Hoboken Real Estate Monitor.com now offers Pending and Sold Listings.  





The Absorption rate this week is 11.53 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 17 closings this week and we have 196 active listings.  So at the current rate of 17 closings per week, it would take 11.53weeks (196/17) 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.
 

Provided by Donna Antonucci
Prudential Castle Point Realty
(O) 201-216-0909
Cell 201-240-6832




Monday, March 25, 2013

Housing Recovery Leaves Some Behind.... A National Perspective


While the national housing picture may look brighter, certain states are still mired in a mess of distressed homes.
These states tend not to get much attention in the national discussion because they are not the well-known "sand states" that fell the hardest during the housing crash and prompted the biggest headlines. New York, New Jersey, Massachusetts and Maryland are still sitting on a ticking time bomb of troubled loans.
Meanwhile other states, such as hard-hit Arizona, California and Michigan are recovering far more quickly. The difference? They do not require a judge in the foreclosure process. So-called "non-judicial" states are recovering faster than "judicial" states.
Article Continues Below
Olick: Judges Slowing Housing Recovery
CNBC's Diana Olick reports that states where a judge is involved in the foreclosure process are lagging in the housing recovery, because of incredible backlogs.
"On average pipeline ratios—the rate at which states are currently working through their existing backlog of loans either in foreclosure or serious delinquency—are almost twice as high in judicial states than non-judicial states," said Herb Blecher of Lender Processing Services.
"At today's rate of foreclosure sales, it will take 62 months to clear the inventory in judicial states as compared to 32 months in non-judicial states. A few judicial states—New York and New Jersey in particular—have such extreme backlogs that their problem-loan pipelines would take decades to clear if nothing were to change."
New York has a 607 month backlog of foreclosures, according to LPS. That's 50 years. New Jersey is looking at 483 months, or 40 years. Scheduling delays, antiquated systems, and the sheer number of cases are to blame.
"In judicial states the foreclosure statutes typically require sending notice, waiting a certain 'cure period,' filing a lis pendens [notice of pending action], serving all interested parties (which alone can take weeks even months if someone doesn't want to be found or has walked) or publishing notice, filing the complaint, waiting for an answer (which borrowers can request more time to provide—and borrowers counsel have become very adept at doing), filing motions, getting hearing dates … you get the picture … it takes a lot of time," said Shari Olefson, an attorney and author of "Foreclosure Nation."

Getty Images
To add to the delays, now some non-judicial states are seeing a big jump in backlogs due to new state laws that while attempting to safeguard borrowers, are delaying the foreclosure process in general.
Nevada instituted a new law criminalizing faulty foreclosures. Banks are taking a big breather there, resulting in the foreclosure backlog doubling in the last 8 months. Massachusetts, a non-judicial state, saw a similar jump after new state foreclosure legislation, and California's Homeowner Bill of Rights, modeled on Nevada's law, went into effect in January 2013, so it too will likely see a slowdown in the clearing of distressed loans.
It all brings into question the recent jump in home values, which is being caused by a huge drop in supply of distressed homes.
Sale prices of homes jumped nearly 10 percent in January, according to CoreLogic. Even with the price surge, inventories continue to drop dramatically across the nation, perhaps because would-be sellers want to see just how high prices will go before testing the waters.
Housing bulls seem unconcerned about the so-called "shadow inventory" of distressed properties, but perhaps they should be. Of the loans that were in foreclosure in January 2012, 42 percent still are, according to LPS. Just 33 percent moved to bank repossession or other forms of liquidation.
In addition, while new mortgage delinquencies are falling in non-judicial states, they are increasing almost 20 percent in judicial states, according to Lender Processing Services.
"The line that we would draw goes through home prices," Blecher speculated. "If those back logs are having any impact on home prices that could drive new problem loans as well."
Weaker prices mean more borrowers are still underwater on their mortgages, owing more than the homes are worth. Underwater borrowers have a far higher new delinquency rate than average.
Foreclosure activity in the fourth quarter of 2012 was down nearly 10 percent from 2011, according to RealtyTrac. While the numbers are still high in some non-judicial states, the cases are clearing quickly, and recovery seems brisk and bullish. In judicial states, especially Florida, the housing recovery will take far longer. A surge in home prices and better performance on newer loans does not mean all the distress left over from the housing boom and bust has suddenly vanished.
Like all things real estate, recovery will be local, and as some markets surge, others will continue to falter.


Friday, March 22, 2013

Weekend Open House Line up, March 22 - 24, 2013



Here is the Weekend Open House Line Up....

Check each Friday for the full list.  We will continue to post the Open House Map on Wednesday which will have the MLS and Mid-Week Reporter Open Houses.  Thursday and Friday we add more from realtor email blasts and by combing over 40 sites.

















89 GRAND ST (Unit C) - $499,000 Sunday 12:30 - 3 PM

234 10TH ST (Unit 316) - $459,000 Saturday 11 AM- 12:30 PM








437 2ND ST (Unit 1) - $648,000    Saturday 1- 4 PM
437 2ND ST (Unit 1) - $648,000    Sunday 12- 5 PM











234 10TH ST (Unit 603) - $527,000 Saturday 11AM -12:30 PM

234 10TH ST (Unit 308) - $455,000 Saturday 11AM -12:30 PM




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.  


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

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
(O)2012160909
Cell 201-240-6832