hOMES: Your Weekly Insight into Hoboken Real Estate Trends | APR. 08-14, 2016

Hoboken Real Estate Trends | APR. 08-14, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

In todays “hot” real estate market some sellers are asking if staging their home to sell is really necessary. The simple answer is yes. According to real estate mogul Barbara Corcoran, “Home staging used to be optional. Today, it’s a necessity in selling a house.” Most buyers simply don’t have the ability to visualize the space for themselves. They need to see where the sofa goes, where the dining area should be, what wall the TV should be on, etc.

Last year, the National Association of Realtors profiled Home Staging and found that among realtors who typically represent the buyer, 49 percent report most buyers are effected by home staging. Among sellers’ agents, 34 percent stage all homes, 13 percent stage difficult homes to sell, and four percent stage only high-price bracket homes

Thirty-two percent of buyers’ agents believe staged homes increase the dollar value buyers are willing to offer by one percent to five percent.

A professional home stager will help you prepare you home so it sells quickly at a good price, but here are some tips to help you get started:

Declutter. If you have big, bulky furniture replace it with smaller pieces that make your space seem larger. A rule of thumb is to remove about 50% of all items for cabinets and closets. Buyers will open your closets and a streamlined look is very appealing. Good storage space is a top priority for buyers.

Lighting. You want your home to look warm and inviting, so good lighting is a must. Make sure you have good wattage in overhead lighting and that each room has additional accent lamps.

Paint A fresh coat of a paint can do wonders. Keep the colors neutral, with warm   tan and soft green/blue colors. Steer clear of bold, statement walls.

Splurge on good, luxurious linens and towels for the bedrooms and bathrooms.

Recaulk and regrout the tub and shower.

As always, work with a professional realtor…

HOBOKEN MARKET:
27 New listings this week

Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price $514,500 and the average price per sq/ft was $675.
Sold Properties:
6 properties closed. The average price $573,499 and the average price per sq/ft was $720.

2-Bedrooms
New Listings:
13 new Listings. The average price was $869,500 and the average price per sq/ft was $689.
Sold Properties:
3 properties closed. The average price was $862,333 and the average price per sq/ft was $678.

3-Bedrooms
New Listings:
6 new listings. The average price was $1,618,833 and the average price per sq/ft was $855.
Sold Properties:
1 property closed for $1,237,500 and the price per sq/ft was $796.

Single-Family Homes
2 new house listings, both 4 bedrooms. $2,880,000 to $2,960,000.

(Information provided by Hudson County MLS)

CLICK HERE to learn more about these and other properties…

CLICK HERE to find out how much your property is worth in today’s market…

Mortgage Market in Review
Mortgage rates have remained low, despite a jump in oil prices and a rally in the equity markets. Traditionally, mortgage rates increase when the Dow, S&P and NASDAQ rise, but so far that hasn’t been the case this week. Investors are unsure of how sincere the current rally is. Next up, the markets will wait to see if the Federal Government can pass its annual budget by April 15^th. A failure to pass the budget or issue a deadline extension would increase the volatility in an already volatile market.

CLICK HERE for a more detailed analysis from local mortgage broker Michael Mundy…

ALSO OF INTEREST:

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Hoboken’s Pier 13 Set to Open THIS WEEKEND

Fitness Advocate/Former Giants Punter Steve Weatherford Lists His Hoboken Apartment

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Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken market.

She has been recognized by the New Jersey Realtors Circle of Excellence for many years, having earned the Gold Level of Excellence for 2015 and awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past four years running (2012-2015), which represents the premium level of achievement within the Century 21 organization.