NJ Economy Outpacing NY
New Jersey’s economy is considerably picking up steam. While NY outpaced NJ in 2010 and throughout the first quarter of 2011, the tables have turned. While NY’s economic activity is leveling off, NJ is running strong. According to the Federal Reserve Bank of New York, the NJ job market is stronger than the unemployment rate [...]
New Jersey Location Matters – State statistics deceiving
If you are a stat-rat and look at global, national, state numbers and compare it to your hometown real estate figures, chances are your town is much different than that town 50 miles north of you. Same goes for NJ. The decline in home prices post-peak was significant to all. Prices are down 17% in [...]
Hoboken Condo END OF YEAR Report – Now What? Market Analysis
Happy New Year to all of our loyal readers. On a personal note, our year over year traffic on our website has DOUBLED! That is exciting and is one of the reasons we are considered one of the top real estate information websites in all of New Jersey. This article will focus on the Hoboken [...]
NJ Short Sale Process – How to
We took on 4 new listings in December for short sales. All of our short sale listings came via a referral from a happy client of ours. The good news is that we have not failed a short sale yet. We have come to terms with each seller / lender on each of our deals.. [...]
Homes Affordable Foreclosure Alternatives – HAFA
If you are in a hardship and are looking for information on short selling your home, it is probably time you worked toward more affordable housing, such as the Home Affordable Foreclosure Alternative (HAFA). The HAFA program provides homeowners two options. First is the Deed In Lieu of foreclosure. Second is the preferred process called [...]
NJ – Highest National Average Down Payment – YES!!!!
Of all of the states in the country, NJ is tops when it comes to the average down payment for a home. Following NJ are Washington DC, NY, Hawaii, and CA. The bottom are North Dakota, Wyoming, Oklahoma, Utah, and Tennessee. NJ’s average down payment is 13.76%, about 1.5% higher than the national average. Ok, [...]
Hoboken Real Estate Report – Condo Market – December 1
December 5, 2011 by admin
Filed under Blog, Gold Coast, Hudson, Income Property
In the Hoboken condo market, as expected, there was a significant drop in sales volume during November as there is on any other given year. Typically, the end of the summer is rampant, but showings typically taper off in September, an indication on November closed sales. Remember, if you take November closings, these are the [...]
October Housing Starts – Multi Family Boom?
The headline housing data exceeded expectations. Here are some thoughts on the report: October housing data: 628k for starts (vs 604k consensus) and 653k for permits (vs 603k consensus). All in, starts were up 29% y/y The growth was primarily due to ground-breaking in the multi-family (aka apartment) market – starts were up nearly 100% [...]
Real Estate Investor Update – Income Property
November 10, 2011 by admin
Filed under Blog, Business & Finance
After scouring a few submarkets for quality investment property, I came up with a conclusion that has been in my business concepts for awhile in the past. It doesn’t matter what market it’s in. It’s about the numbers and the mitigating / offsetting factors of risk. For instance, I looked at 2 buildings today. One [...]
NJ short sale updates
We are currently working on our 100th Short Sale!!! I remember the first one in 2007 like it was just yesterday. I had a vague idea what a short sale actually was and the documentation the banks required changed every 5 minutes, it seemed. I am proud to say that we are one of New [...]
