hOMES: Your Weekly Insight into Hoboken Real Estate Trends | JUNE 10-16, 2016

Hoboken Real Estate Trends | June 10-16, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Happy Father’s Day to all the great Dads out there! “Dads” and “Home Improvement” are synonymous. My Father-in-Law is always working on at least one if not several small home improvement jobs at at time, but unfortunately neither my husband nor I have the necessary skills to even put up a shelf without it falling down.

Before putting your home on the market it is worth taking care of all the little tasks you have been putting off for the past year, such as re-grouting the bathtub, changing the old light fixtures, etc. When it comes to showcasing your home, it is the little things that matter. A couple of minor upgrades and small changes can make a big difference on how prospective buyers see your home.   If you are not the “handy” type, it is well worth shelling out the money now to have things done correctly—it will net you more in the long run.

Similarly, if you are buying a new home, don’t forget to take into account the little improvements you’ll want to truly make your new place the home of your dreams. Small fixes, even just a fresh coat of paint, can be an expensive outlay. But take it from one who knows—it can cost a lot more if you have to hire a professional to fix your do-it-yourself repairs that went wrong!

HOBOKEN MARKET
24 new listings this week, 21 condos and 3 single family homes.

Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price $527,000 and the average price per sq/ft is $675.
Sold Properties:
3 properties closed. The average price $576,833 and the average price per sq/ft was $683.

2-Bedrooms
New Listings:
13 new Listings. The average price was $798,692 and the average price per sq/ft is $682.
Sold Properties:
9 properties closed. The average price was $785,166 and the average price per sq/ft was $651.

3-Bedrooms
New Listings:
1 new listing. The list price is $2,499,000. It is 3,342 sq ft., so the price per sq/ft is $747.
Sold Properties:
No sold properties this week.

4-Bedrooms
New Listings:
1 new listings. The list price is $2,295,000. It is 3,363 sq ft., so the price per sq/ft is $682.
Sold Properties:
No sold properties this week.

Single-Family Homes
3 new single-family homes listed; two 3-bedroom homes for $699,995 and $1,675,000 plus one 4-bedroom for $1,825,000

(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

Despite all signs from the Fed pointing to at least one more increase in overnight lending rates this year, we’ve seen mortgage rates rally this week. Rates are now hovering at the lower levels of where they have been in 2016. This is due to slowing job growth, as reported in last week’s Jobs report. This is also due to traders’ distrust of the market. There is too much uncertainty in the market at the current time for the bond market to sell-off, and for mortgage rates to spike substantially. Everyone is taking a wait and see approach for now. Whether they are looking for further guidance from the Fed, or tracking oil prices, or the strength of the dollar, etc… it is obvious that the market is looking for something to give it direction.

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

ALSO OF INTEREST:
What Dads Want in Their Home—All Hail the Man Cave (Realtor.com)

Newark Street Plaza: A Sliver of Peace in Hoboken’s Busy Downtown

Liberty Humane Pet Adoption at Pier 13 Saturday

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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.