Before you begin, you should have some things on hand.  The first thing is to start some lists.  You’ll need a “to do” list, a “to buy” list, and a “to call” list for starters.  Keep these lists (preferably in one notebook) and a pen handy as you work from room to room.  The next thing is boxes, boxes, boxes!  You’ll want some nice sturdy, not-too-large boxes for things like books, dishes, etc.  If they’re too large, they’ll be too heavy when the actual moving begins.  You can also get garment boxes for clothes on hangers.  They are a terrific innovation.  A few larger boxes are handy for things like curtains, blankets, towels, etc.

Keep permanent markers handy, also.  Use them to mark each box as soon as it’s packed.  You’ll want to write what the contents are, and where to take it in the new house.  Another good tool is a gizmo that applies clear strapping tape (or two, or five!)

There are a couple of ways to go about the process of packing.  Some people like to go through things and toss or give away what they don’t want before they begin actually packing boxes.  Other people prefer to do it all in one operation, that is, toss (or give) as you go.  It’s something on which “honorable men may disagree”.  So do whatever works best for you.  Remember to add to your lists as you go, so you can keep track of your needs.

On your “to call” list, you need to write everyone who needs to know you’re moving, such as the utility companies, the Post Office, perhaps some neighbors and relatives, and maybe your church.  Don’t forget the person who delivers newspapers.   You may as well call the Board of Elections and change your address there, too, so you’re registered to vote in time for the next election.  If you are using a moving service, you can put them on the list, also.  You may want to make sure they are insured.

If you have friends or relatives coming to help, it’s a good idea to provide coffee and doughnuts or some other breakfast fare, and get them to come early.  People are willing to help, but they want the decisions to be made by you, before they come, if possible.  Keep cold drinks in a cooler handy for breaks throughout the day.  If the move takes you into the afternoon, spring for lunchmeat and sandwich makings. Before turning over the keys, do a final walk-through to be sure you haven’t forgotten anything.  HAPPY MOVING!!

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at201.344.2886.

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

Personally, I have been able to get 13 properties into contract during the first two months of this year.  Although the market has been very competitive as of late, most of my buyers have been able to secure the homes that they had targeted as their first choice!  I’m excited to be able to get many of them into their first homes and look forward to a long and mutually beneficial relationship

First, there’s something I have to get off of my chest…..

The market is on SALE!

Prices have been beaten down the last couple of years.  Rents have been going up, the population is increasing and new housing starts have not been keeping up with the historical averages.  For the last 20 years, new housing starts have averaged 1.4 million units per year.  The last 4 years we’ve only averaged 663K.  That’s less then half of the 20 year average! This means less inventory!

Will there be increased demand?

There are 63 million Echo-boomers, the children of the baby-boomer generation, that are between the ages of 17 – 32 that will begin to form families in the next 5-10 years.  After every downturn in the market (see chart above) real estate has eventually gone UP!  Interest rates have been at a crazy low amount (less the 4% for loans equal to or less than $417K in my market)!

Will real estate prices start to move up?

Hmmm………. What the heck are you waiting for????

Now here’s the update……

Here are the market highlights:

1. Inventory sits at a low level of just 238 units for sale
2. 74 condos went into contract in February 2012 which is a 28.3% increase over the same period last year
3. The current absorption rate, the rate at which all condos in the market would be “absorbed” by the current pace of sale (in this case we’re using the 74 units under contract in February) is now at  just 3.2 months.  Dare we say “sellers market”?  I can’t believe that’s what I’m seeing!!
4. Interest rates remain at historic lows with 30 Year Fixed Conventional Conforming Loans (loans less than or equal to $417,000) at 3.875%/ 3.965% APR – from Pinnacle Mortgage 3/9/12
5. Average selling prices are up 15% from same period last year (mostly attributed to the high level of luxury property buyers in my opinion)
6. List-to-sales-price-ratio is at 95.7% which indicates that at the moment, buyers still may have some flexibility on asking prices

Here are the actual stats I complied for you using the Hudson County Multiple Listing Service:

Current Active “For Sale” Condo Inventory  as of 3/13/2012: 238

Average asking price: $539,365

Median asking price: $489,000

Average days on market: 6

February 2012 – New Condo Listings: 74

Average asking price: $589,684

Median asking price: $549,949

February 2012 – Under Contract: 74 ( This is a + 28.3% increase to the 53 units that went under contract in February 2011)

Avg asking price: $522,348

Median asking price: $441,000

Avg days on market: 52

February 2012 – Sold: 57   (This is a +33.3% increase to the 38 condos that sold in February 2011)

Average asking price: $544,492

Average selling price: $521,266    (+ 15% compared to $442,855 avg selling price in February 2011)

Average days on market:  81       (- 7.6% difference compared to the average days on market of 70 days in February 2011)

** Average List-To-Sales-Price-Ratio (LSPR) : 95.7 % of asking price which translates into an average buyer discount of approximately 4.3% ** (96.7% LSPR in May 2010)

Remember, I’m always around should you have any questions or need anything…. I can also put together any statistics that will fit your specific property.  Just let me know!

Your REALTOR,

Eddie

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at201.344.2886.

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8 percent higher than January 2011 when it was 89.8. The data reflects contracts but not closings.

The January index is the highest since April 2010 when it reached 111.3 as buyers were rushing to take advantage of the homebuyer tax credit.

Lawrence Yun, NAR chief economist, said this is a hopeful indicator going into the spring home-buying season. “Given more favorable housing market conditions, the trend in contract activity implies we are on track for a more meaningful sales gain this year. With a sustained downtrend in unsold inventory, this would bring about a broad price stabilization or even modest national price growth, of course with local variations.”

PHSI by region:

Northeast: Rose 7.6 percent to 78.2 in January and is 9.8 percent above a year ago.

Midwest: Declined 3.8 percent to 88.1 but is 10.8 percent higher than January 2011.

South: Increased 7.7 percent to an index of 109.1 in January and are 10.5 percent above a year ago.

West: Fell 4.4 percent in January to 101.9 but is 0.7 percent above January 2011.

“Movements in the index have been uneven, reflecting the headwinds of tight credit, but job gains, high affordability and rising rents are hopefully pushing the market into what appears to be a sustained housing recovery,” Yun said. “If and when credit availability conditions return to normal, home sales will likely get a 15-percent boost, speed up the home-price recovery, and thereby significantly reduce the number of homeowners who are underwater.”

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR®. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities, including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

Hoboken has long been touted as having the highest percentage of singles of any city in the United States.

Want to increase your chances of finding love?  Buy a home!  In a new survey by Harris Interactive for the real estate site Trulia has shown that there is an overwhelming preference to date a single that own their own home as opposed to one that is renting. Don’t believe me? You can read the article here: http://money.cnn.com/2012/02/14/real_estate/dating_homeownership/index.htm

The fact is, I’ve seen this first hand, having sold many condos to single buyers … who later trade up to larger homes once they’ve found love in our mile square city … only to later trade up again once the family has outgrown that home once again.

I guess there’s a case that can be made that not only are we REALTORS, but we can also add Love Dr to the business card

Make it a great day!

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

In theory, a home further back in the line (third or fourth position) would eventually sell once the better-valued homes (first and second place) have sold. Unfortunately, this is not the case. New listings are continuously entering the market and cutting in line. This causes the inferiorly priced homes (third or fourth place) to stay behind in line, never actually selling –unless they improve their price to value position.

Therefore, in order to price a home so that it will sell, it’s very important to consider your position relative to other homes on the market. I call it strategic pricing.

Want to know how to get out of line in a reasonable amount of time? Shoot me an email or just call.

Happy Selling

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

Sellers:

Don’t wait till the last minute to de-clutter; do those little repairs and start the deep cleaning.You never know when people will start looking at properties! And if you read the Buyer section next week, you’ll understand.

First off, go out and rent a unit at the nearest self-storage facility, and start going through the house (and garage if you’re lucky enough to have one!) one room at a time. I promise you’ll be glad you did. You’re going to have to go through stuff before you move anyway, right? Why not start now when you can take your time about it. Buyers have a lot easier time imagining their stuff in the condo if they don’t have all your stuff to visualize through! Your rooms will look larger with less stuff in them anyway.

You know those bothersome little household repairs on your “Honey Do” list? Now is the time to get on them. You’re stuck inside for the next two months anyway. Put the time to good use.While those little imperfections irritate you, they’ll have buyers seeing potential repair dollar signs … and wondering what else needs to be taken care of that they aren’t seeing. Like the commercial says, “Just do it!” Remember, everything you can see and don’t repair is potentially a negotiating point for buyers looking to get you to lower your price.

Don’t forget the exterior!Start speaking with your condo association about any common area repairs or upgrades that may be needed as it could take a few months to get board approval and get the work completed. Remember the importance of those first impressions! Take a look at your buildings front façade and landscaping. Could it use new plantings, paint or brick re-pointing? Updates to these can add value to everyone’s homes and make it a more enjoyable place to live.

Take a look at your building’s hallways, mailbox, laundry and storage areas. What can be done to give the best impression to potential buyers? Sometimes simply enforcing the current building rules and regulations, such as limiting items left in hallways, can help with how your building will show.

Now let’s talk about your roommates. Not the buddies from college but

the furry ones we call pets. You may not smell them, but if you have carpets, upholstered furniture and even one little dog … or a litter box and one little kitten … newcomers to the house will smell them. And if the buyer has pet allergies, watch out! No amount of sprays or powders will cover the smell. If you are serious about selling, you need to have the carpets, drapes and upholstered furniture steam cleaned. Try to decide on an area (preferably uncarpeted) that the pets can be restricted to, and determine what to do with them when the house is going to be shown. Doggy day care? Pet carrier? Mom’s house? If possible, have the pets removed from the condo during showings.

These are just a few suggestions to keep in mind and to get started on now so that you’ll be able to hit the ground running when your place goes onto the market!

Next week, buyer suggestions!

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

Additionally, recent news on the economy has been getting better lately and you know what this could lead to……. interest rates might start to go up!!

Hoboken is experiencing extremely low inventory of available condominiums. As of today, there are only a total of 215 units available for sale.

Six months ago, there were nearly 400 condos on the market!

If the current demand picks up just slightly, it just might ignite the lackluster activity of the past 3 months where we’ve averaged approximately 32 contracts per month.

Why wait? Let me know if you would like to start the home search in earnest.

Here are just a few of the headlines TODAY. I wanted to share this with you today as the LARGEST cost of home ownership is the interest. Remember the old adage, “you don’t live in the purchase price, you live in the monthly payment” (i.e. interest rate).

Jobless Claims, Factory Data Suggest Recovery Picking Up

http://www.cnbc.com/id/45681589
Stocks Gain as Economy Shows Some Strength

http://www.cnbc.com/id/45680479

Have a great day!

Eddie

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

One of the great things about living in a Hoboken downtown condo is the access you have to an incredibly wide variety of activities, restaurants and clubs. This being winter, I’ve selected two very different recreational outlets to tell you about that may surprise you.

First off, would you believe a ski club in the inner city?! The Hoboken Ski Club meets every Tuesday night at 8:30pm in the Back Room at Willie McBride’s Pub at 616 Grand St., Hoboken, NJ 07030. Their club motto is “Think snow!” and they say that’s what they do … all the time. Their foundation is built around snow sports and the winter, but the club is active all year round.

It’s not just about Hoboken, and it’s not just about skiing. The majority of their members are in their 20′s & 30′s. But they have no age limits, other than that you do have to be 21 to join. Whether you’re a skier, snowboarder, or just like social activities, this club has something for you!

Not everyone is quite so athletically inclined, and that’s fine. Stroll on over to Symposia Community Bookstore and see what tweaks your interest. They’re located at 510 Washington Street.

For starters, they are the only used bookstore in Hoboken. But they aren’t “just” a used book store. They are actually more along the lines of a community center. In fact, Symposia is actually a Public Benefit nonprofit corporation that was organized, and is operated, exclusively for educational and charitable purposes. They operate a book thrift shop and offer their shop locations to be used as a community center.

What exactly does that mean? Well, you can buy books at discounted prices. You can donate books, DVDs, CDs, tapes and office equipment rather than chucking them in the dumpster and wasting them.

According to their website, their specific objectives and purposes are:

• to help make books and reading as inviting and accessible to as broad an audience as possible;
• to offer a venue to serve as a community center and a place for educational and community activities;
• to support other charities through the use of the thrift store’s space to raise funds and run programs;
• to offer support for emerging local artists through exhibitions and other projects;
• to develop new community projects;
• to engage in other activities related to the development of the social capital of our community.

It is definitely a place where you will always be able to find something interesting going on! Stop by and visit for awhile!

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

In fact, if you are not sure what you want, you should probably make what a friend of mine calls a “Ben Franklin List”. Benjamin Franklin, whom I think we’d all agree is no slouch, came up with a really useful decision-making tool. Basically, you divide a sheet of paper into relevant columns. In this case it could be “Wants, Needs and Undesirables”. Now you populate those columns with your choices. Maybe you want an open concept floor-plan and some type of outdoor space. What you need might be parking, elevator or three bedrooms. Undesirables might be location too far from NYC transportation or 4^th floor walk-up buildings. You get the idea.

Be realistic when it comes to choosing whether something falls into the “Wants” or “Needs” column. Stainless steel appliances are all the rage, but I’d call them a “want”. What you need is working, reliable appliances. Changing them out for stainless steel is something you can do down the line. If the current appliances are ancient (more than 10 years old) and/or non-functioning, the cost of replacing them is a negotiating point when it comes time to make an offer, isn’t it? In order to move in and be comfortable, functionality should trump esthetics.

Face it. Unless you have a home custom-built and decorated to your specifications, the odds of finding an absolutely perfect property are not likely. Once upon a time the property you are looking at was the embodiment of someone else’s dream. It has been personalized through their occupation and decorations. You can make it yours, but before you can do that, you have to be able to see the property’s potential to fulfill your vision.

Look past paint color. Look past light fixtures, drawer and door pulls, curtains, carpets, plants used to landscape the yard or balcony. All of these are easily changeable, customizable to fulfill your vision. What are not changeable are location and the basic bones. As long as those are good, you should consider the property. Buy it and make it your own.

I recently sold a single-family row house on Bloomfield Street that had the location and “good bones” but was in need of renovations. The eventual buyers saw the home’s fantastic potential and their opportunity to customize it to their liking. They are now well on their way to having the customized home that they envisioned and within the budget that they set.

The Ben Franklin list proved to work great for them! Give it a try, and see if you too will soon be on your way to having YOUR perfect home!

Happy shopping!

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

When compiling the final sales figures for October 2011 using the Hudson County Multiple Listing Service, the central theme I noticed was…..

Fewer condos are selling but they are selling for quite a bit more!

In the Hoboken condo market, closed sales prices showed big increases in October when compared to the October 2010 stats. Average prices rose 7.73 % ($473,393 vs $436,776) and median prices were up 7.11%, ($436,000 vs $405,000). Who knew?

Ok, it’s not all rosy data…

Total units sold were down by 30% (43 units in 2011 vs 56 units in 2010). Total contracts signed were also down as there were 54 contracts signed in October 2011, a 24% decline from the 67 contracts signed in October 2010.

What does this all mean?  

The market is not as bad as most think, prices are holding steady and may have gone up for some category of homes, buildings and prime locations in Hoboken.

Now all we need to do is sell a few more condos….. which by the way, I’d be more than happy to help

Here are the sales statistics…..

October 2011 Sold Condominiums:

1 bedroom: 13 sold.

 Average asking price: $372,861

 Average selling price: $359,973 (-3.45% of asking price)

 Average / Median days on market:   61 / 49

2 bedroom: 27 sold

Average asking price: $523,633

Average selling price: $510,175 (-2.57% of asking price)

Average / Median days on market: 70 / 50

3+ bedroom: 3 sold

Average asking price: $642,666

Average selling price: $633,833 (-1.3% of asking price)

Average / Median days on market:  58 / 40

October 2011 – Contracts signed.  These are the deals that were consummated during the month and represent the current buying activity.

Total Contracts: 54

Here’s the breakdown:

Studio: 0

1 bedroom:  15 contracts  

Average asking price: $360,619

Median price: $339,000

Average days on market: 72

Median days on market: 33

2 bedroom: 33 contracts

Average asking price: $599,986

Median price: $505,000

Average days on market: 56

Median days on market: 42

3+  bedroom:  6 contracts

Average asking price: $873,583

Median price: $751,750

Average days on market: 67

Median days on market: 79

I hope you find this info useful.  As always, don’t hesitate to contact me with any specific questions.

Eddie

About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker - REALTOR . His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County.You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.