Inside Hoboken Real Estate

Latest on Hoboken Mortgage Rates

2011-07-15T08:43:00.000-07:00

Latest on Hoboken Mortgage Rates from the IHRE Mortgage Guy

REVISED July 15th,, 2011---11:00 AM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.500%/ 4.591% APR

30 YEAR FIXED INTEREST ONLY--- 5.000%/ 5.093% APR

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.750%/ 4.796% APR

15 YEAR FIXED ------------------------- 4.000%/ 4.095% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.086% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM----------------------------------- 3.500%/ 3.195%APR

7/1 ARM ------------------------------------ 3.875%/ 3.571% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

**Please call for rates on loans over $1 million or rates on FHA loans**

Total Fees Charged By Pinnacle Mortgage, Inc.

$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)

Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

www.mundymortgages.com

Top 5 Hoboken Real Estate Headlines in 1st Half 2011

2011-07-05T14:11:00.000-07:00

Top 5 Hoboken Real Estate Headlines in the 1st Half of 2011

We have reached the midway point of the year. Today, I want to look back over the first six months and give you what I believe were the five items that have had the biggest impact on the Hoboken real estate market so far this year.

Low InventoryWith Hoboken condo inventories down some 30% from traditional levels, it has impacted the market in several ways. Lower days on market for sold properties is chief among them. Bidding wars and contracts for well priced condos is leaving stale inventory in the dust as Hoboken buyers, with limited choice, are acting fast.

Low Interest RatesHistorical lows in interest rates are having an impact on move up buyers. Three bedroom Hoboken condos are selling fast and furious as families with a long term plan are locking in for the long haul.

Short Sales StalledWhile the Hoboken real estate market is not as directly impacted by short sales and foreclosures as other markets, the bank moratorium on foreclosures and the subsequent delays in the short sale process has mitigated most impact that lower sale prices would have on existing sales.

Sales Are StrongThere were 321 Hoboken condos sold in the second half of 2010 as compared to 343 Hoboken condos sold in the first half of 2011. While the second half of 2010 was a low caused by the homebuyer tax incentive, the first half of 2011 had no incentive and thus the second half should not be as negatively impacted from buyers front loading their purchases.

Toll Brothers Is Building And Selling In Hoboken
1450 Washington Street, the latest in Toll Brothers' Hoboken condo offering, is being built at a breakneck pace. The 156 condo structure is on schedule for completion in the first half of 2012 and sales have already begun. Toll does not commit lightly and they are bullish on the sale prospects for the foreseeable future. A great sign for Hoboken real estate!

Keep up with the latest in Hoboken Real Estate through my free monthly Hoboken Real Estate reports.

Hoboken Housing Freedom

2011-07-04T06:18:00.000-07:00

IN HOBOKEN, July 4, 2011

Tourists decend upon the waterfront like Pennsyltuckians looking for a free cupcake at Carlos. Where is the Hoboken Parking Authority when you need them? Probably too busy resting up to give Hobokenites warnings for legally parking at a meter for more than two hours.

So today I am going to keep it brief. I am going to grill meat, offer libations to the housing gods, and watch America's best fireworks thanks to Mr. Macy & Co. Take that Park Slope and the rest of Brooklyn. If you want to see the fireworks, hop on a train. Haha.

Tomorrow, I am going to get back to exercising my freedom of helping people reach the American Dream....Condo Ownership!

IN CONGRESS, JULY 4, 1776
The unanimous Declaration of the thirteen united States of America
hen in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.

He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their Public Records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected, whereby the Legislative Powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

He has obstructed the Administration of Justice by refusing his Assent to Laws for establishing Judiciary Powers.

He has made Judges dependent on his Will alone for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

He has affected to render the Military independent of and superior to the Civil Power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

For quartering large bodies of armed troops among us:

For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

For cutting off our Trade with all parts of the world:

For imposing Taxes on us without our Consent:

For depriving us in many cases, of the benefit of Trial by Jury:

For transporting us beyond Seas to be tried for pretended offences:

For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies

For taking away our Charters, abolishing our most valuable Laws and altering fundamentally the Forms of our Governments:

For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated Government here, by declaring us out of his Protection and waging War against us.

He has plundered our seas, ravaged our coasts, burnt our towns, and destroyed the lives of our people.

He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince, whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

Nor have We been wanting in attentions to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these united Colonies are, and of Right ought to be Free and Independent States, that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. — And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.

— John Hancock

Hoboken Real Estate | The Hoboken Condos Weekly Report

2011-05-24T07:05:00.000-07:00

Hoboken Real Estate The Hoboken Condos Weekly Report

The latest run down of Hoboken Real Estate with a focus on Hoboken Condos for the week of May 16-23.

40 new properties, including 35 condos in Hoboken.
11 condos under contract.
24 Sold properties, including 22 Hoboken Condos
31 Price changes of Hoboken real estate

This report includes one big commercial piece for almost $5 million dollars. Is it worth that much? Depends on what the city will let you build. So long to "The world's best coffee".

Think of buying or selling in Hoboken? You need this information and you need it real time. Get my free monthly reports to tract the Hoboken Real Estate market. Get my quarterly and annual reports for the big picture overview. All of my Hoboken Real Estate Reports include a list of Hoboken condos sold, list price to sale price ratios, trend analysis and more. Most importantly get my analysis and insights that come from experience. I am never too busy to work with you and for your referrals.

Brian Murray
RE/MAX Gold Coast Realty
56 Newark St.
Hoboken,NJ 07030
201-795-5200 x441
www.hobokenhomefinder.com
FREE Up To The Minute Market Report for Hoboken or Jersey City
http://www.homeinsight.com/Widget/default.asp?ZUI6YSUSKA06

Hoboken Condos | Mortgage Rates | Open Houses

2011-05-20T15:55:00.000-07:00

Looking though the Hoboken Condos for sale? Interested in the open houses? Get all of Hoboken's Open Houses in one place.

Need Mortgage rates? From My Mortgage guy....

**Keep in mind that every borrower's situation is different, and each must be evaluated individually.

Rates could be higher, or lower, depending on each individual scenario!!**

REVISED May 20^th, 2011---- 2:00 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.625%/ 4.733 APR

30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV* Includes Hoboken condos.

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.750%/ 4.816% APR

15 YEAR FIXED ------------------------- 4.125%/ 4.241% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.112% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR

7/1 ARM -------------------------------------- 4.000%/ 3.646% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR - 1.00% Points --- Loans up to $1,000,000!!!

Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

Toll Free (877) 768-8800 x777

mmundy@pinnaclemortgage.biz

www.mundymortgages.com

Hoboken Real Estate | Top 3 Facts About The Spring Market

2011-05-19T09:41:00.000-07:00

Hoboken Real Estate Top 3 Facts About The Spring Market

For those looking for Hoboken Condos or looking to unload their Hoboken Real Estate here are the top 3 facts from my April 2011 Hoboken Real Estate Report.

1. The upper middle of the market is coming back. While the million dollar plus Eli Manning Hoboken condos are always in demand for their outlandish size and commanding views, the $600k-$800k segment of the Hoboken Real Estate market has suffered recently. It's back. Only 12 condos over $500k sold in February and 12 over $600k sold in April.

2. The 4% discount. Average sale price to list price of Hoboken condos is holding at 96.1%. This percent is from the final price after price reductions so results may vary but it is a good starting point in your discussions.

3. No Tax Credit Spike: The total number of Hoboken condos under contract remained steady at 78 for the second month in a row. Likely the June and July contracts will not fall as sharply as last year.

Do you like my reports? My analysis. Sign up and get the info first. The people in my client appreciation program always get the info on Hoboken Real Estate before the rest of the market. It's free and you get monthly data, analysis and practical tips. Not some canned reports.

Hoboken Condos | Mortgage Rates

2011-05-15T09:12:00.000-07:00

Hoboken Condos latest mortgage rates....

REVISED May 13th, 2011---- 3:00 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.750%/ 4.868 APR

30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.361% APR

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 4.875%/ 4.981% APR

15 YEAR FIXED ------------------------- 4.125%/ 4.241% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS for Hoboken Condos (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.000%/ 5.112% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM------------------------------------- 3.625%/ 3.395%APR

7/1 ARM -------------------------------------- 4.000%/ 3.646% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR – 1.00% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over $1 million or rates on FHA loans**

Total Fees Charged By Pinnacle Mortgage, Inc.

$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)

Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

mmundy@pinnaclemortgage.biz

www.mundymortgages.com

1450 Washington construction update

2011-05-11T18:11:00.000-07:00

Construction update of those 156 Hoboken Condos at 1450 Washington at Hudson Tea by Toll Brothers

The hammers are swinging, hard hats running around like ball boys at Wimbledon, sparks are flying. According to my sources, 1450 Washington at Hudson Tea is ahead of schedule. March 2012 looks like a real possibility for the lower floors with the higher floors coming in over several months. 156 Hoboken Condos and one retail space. The windows are in. the facade is on.... check out the video

These condos looked like a European train table until the shift of power in the Hoboken city council last night. Let's hope they fight over $25 recreation fees and leave the construction to the professionals.

Want to see them first hand or get more information?

would you click on this?

2011-05-04T15:11:00.000-07:00

I just came across this on real craigslist post.....

ATTENSION INVESOTRS – FREE access for Hoboken real estate statistic (Hoboken)

This is from one of my esteemed colleagues. I am giving you the link. If you want those reports, have at it.

Did I mention the Q1 2011 Hoboken Real Estate Report is now available? ...It's available!

Hoboken Real Estate| 1450 Washington Street at Hudson Tea

2011-05-03T11:59:00.000-07:00

Hoboken Real Estate 1450 Washington Street at Hudson Tea

Did anyone notice the new construction building going up rapidly between 14th and 15th streets in Hoboken. It's Toll Brothers 1450 Washington Street at Hudson Tea. The latest new construction project in the Hoboken real estate market. Toll Brothers has begun pre-sales!

1450 Washington Street at Hudson Tea features a 12 story tower on the north end with a 7 story tower on the south end. The 7 story tower has a courtyard level on the second floor which makes the building horseshoe shaped with an opening facing the Toll Brothers parking garage to the west.

1450 Washington Street at Hudson Tea will feature retail on the first floor and have ameniteis such as a doorman, fitness center,and children's play room. While sharing a condo association with Harborside Lofts and the still to be built Toll Brothers building to the east, Hudson Tea at 1450 Washington Street will have access to the planned swimming pool. This will make it one of the most unique properties in the Hoboken Real Estate market.

1450 Washington Street at Hudson Tea, according to Toll Brothers will be ready for delivery in March 2012 to July 2012. Construction is ahead of schedule.

Pricing at 1450 Washington Street at Hudson Tea is pretty reasonable for Toll Brothers new construction. There are studios in the low $300,000s, one bedroom starting in the mid 300,000s, and upward through a combined 3br condo of 2000sqft for just over $1.1millon.

Taxes at Hudson Tea at 1450 Washington Street are estimated to be 1.3% of the sales price. Meaning a condo would selling for $500k would have an annual tax bill of roughly $6500. A reasonable number compared to other Hoboken Condos.

Maintenance at 1450 Washington Street at Hudson Tea according to Toll Brothers is sixty one cents a square foot. This is the same price that Maxwell Place is charging.

Contact me to learn more about 1450 Washington Street at Hudson Tea.

Hoboken Condos and The NFL Draft

2011-05-01T08:32:00.000-07:00

Hoboken Condos and The NFL Draft

Glued to the tv for the past three days watching the NFL draft, it struck me. Buyers of Hoboken condos and the teams drafting are exactly the same.

Example 1:
There's a prospect that is projected to be a first rounder that falls to the third round. No one knows why. This is just like a well priced condo that takes 3 months instead of three weeks to sell.

Example 2: There is a run on a position. It's supply and demand. A team may really need a linebacker but four quarterback are taken in the first twelve picks. Now the team needs a quarterback too and worries that there won't be any left. So they take a quarterback instead of a linebacker. This is just like the new Hoboken condos at 1450 Washington. There are only five three bedroom condos in the 156 unit building. They were gone in the first day of sales.

Example 3: The head scratcher.... A team moves up and mortgages the world for a player they could of had later. Just like the Hoboken condos buyer that buys for over market with no other offers.

Whether it's Hoboken condos or NFL draft picks (or in the case of Eli Manning, both a Hoboken Condo buyer and NFL draft pick)....The buyer sets the market. For better or worse.

Did I mention the Q1 2011 Hoboken Real Estate Report is now available? ...It's available!

Has anyone been watching my real estate segments on hoboken411? Please let me know what you think.

Hoboken Condos This Week's Report

2011-04-27T09:43:00.000-07:00

Hoboken Condos This Week's Report

The week of April 18-27.

Hoboken Condos ...New to the market 39
Hoboken Condos ...price changes 19
Hoboken Condos ...under contract 24
Hoboken Condos ...sold 15

The Hoboken Condos market has now topped 380 available condos to purchase! The number is finally climbing. Maybe sellers are getting wind of this "seller's market"? I had a seller last week that had four offers in four days on the market! Yes a bidding war. This seller is moving on and up.

Overall, the spring weather should drive more buyers to get a move on. But as Jersey's original Boss would say ..."Well you better move fast when you're young or your not long around."

Here is the week's spreadsheet.

Did I mention the Q1 2011 Hoboken Real Estate Report is now available? ...It's available!

Has anyone been watching my real estate segments on hoboken411? Please let me know what you think.

Hoboken Condos Report Q1

2011-04-22T16:07:00.000-07:00

The Hoboken Condo Report Q1 is now available.
Get it free today.

Don't want to download a free report???
Three Biggest Things I learned by reading my own condo report.

1) Hoboken Condo inventory down 30%.
2) Median Sale Price falling.
3) Bidding wars are back.

There now you have it. So get it.

Today's mortgage rates

2011-04-15T11:48:00.000-07:00

Hoboken Mortgage Rates

From the IHRE mortgage guy...

REVISED April 15th, 2011---- 12:00 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.875%/ 4.923 APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.446% APR

15 YEAR FIXED----------------------------- 4.125%/ 4.194% APR

5 / 1 ARM------------------------------------- 3.375%/ 3.171% APR

7/1 ARM ------------------------------------ 3.750%/ 3.466% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 5.125%/ 5.244% APR

15 YEAR FIXED ------------------------- 4.375%/ 4.412% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.375%/ 5.391% APR

30 YEAR FIXED INTEREST ONLY-- 5.625%/ 5.638% APR
15 YEAR FIXED--------------------------- 4.500%/ 4.527% APR
5 / 1 ARM------------------------------------- 3.875%/ 3.602%APR

7/1 ARM -------------------------------------- 4.250%/ 3.998% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR – 1.00% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over $1 million or rates on FHA loans**

A Hoboken Renters Big Mistake

2011-04-14T18:44:00.000-07:00

A Hoboken Renters Big Mistake

You've heard the cliche Too Smart For Your Own Good or As easy as sliding off a greasy log backward. (Actually, I have no idea about that last one but made me laugh.) Well here is a true Hoboken tale from the front that occurred awhile back this winter.

It might have been cold outside but the Hoboken rental market was heating up. Everything getting gobbled up. Prices rising faster than a gallon of gas. Landlords just waiting for people to move so they could jack up those market rate rents.

One renter I know, thought they might get cute. Without doing his homework and without a lease, he asks the landlord for a reduction in the rent. Did I mention the rent was more than 10% below market.

You all know the end of this story. It's bye-bye Mr. I want to save $100 a month and hello I can't believe I am living in The Heights for the same price.

Lesson: Always check with your local expert before flying off the handle or you might just find yourself taking the 9th Street Wonkavator each morning.

A Hoboken Renters Big Mistake

Will The Weather: Bring The Hoboken Spring Market?

2011-04-07T18:47:00.000-07:00

The Hoboken Spring Market

Temperatures are supposed to be in the 70s this weekend! I for one am heading out to look at property. Probably the open houses I am holding and some that my clients want to see. Even if I weren't "in the business" I'd be out there getting some air between stops at overpriced condos.

Of course they are overpriced. How many condos in today's market get full price or more. Ok, there is one realtor who makes a big time living pricing the property so low that they sell for over ask. Check out the hoboken open house map on Friday evening. ,

This is the spring. Families who want to move over the summer are getting ready to sell. People are getting married and need a new place big enough to have their first argument and be able to go to separate rooms. Nothing like fighting in a studio. Hook up a webcam and call it Newlyweds: The Steel Cage match. I mean how long can someone lock themselves in the only bathroom? Eventually the other person has to go and round two begins..... I hope they live in steel and concrete.

I used to live in a house with the next house about two driveway widths away. It was a three family or triple decker as it was called in central Massachusetts. The old married couple who lived on the third floor would get to fighting almost every night. Thankfully they had no central air. With those widows open, it was as good as being there....I feel like I am describing radio to the webcam generation.

Telling Stat: 376 total available Hoboken Condos For Sale The Hoboken Spring Market

This Week In Hoboken Real Estate

2011-03-29T18:43:00.001-07:00

Hoboken Real Estate Stats March 21-29 You know the market must be getting bad if one of the most well know agents in Hoboken tries to poach one of my loyal clients and a joint client party. Although her reputation often preceeds her, it is still a new low. I can only wonder if she is having problems paying for all of the renovations to her new home now that she has moved out of Hoboken. The number of condos for sale is holding steady at 375 condos. A reminder that the tax appeal deadline is April 1st. The 2010 Hoboken Real Estate Report with February Updates Is Now Available! Mar 21-29 Hoboken Real Estate Report My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

And Look. Here is a little video of one of those listings. Francis Ford Coppola is quaking in his boots.

The 40 page 2010 Hoboken Real Estate Report with February Updates is now available. . It's my best yet. Really good stuff. I will share over the next couple of months in this blog. Get it today for free. To anyone who reads it, leave some feedback and I will put you on the preview list for quarterly reports. The 2010 Hoboken Real Estate Report Is Now Available

This week in Hoboken Real Estate Mar 21st

2011-03-21T18:30:00.000-07:00

Hoboken Real Estate Stats March 14 -21

The number of condos for sale is holding steady at 375 condos.

A reminder that the tax appeal deadline is April 1st.

The 2010 Hoboken Real Estate Report Is Now Available!

Mar 14-21 Hoboken Real Estate Report

My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

And Look. Here is a little video of one of those listings. Francis Ford Coppola is quaking in his boots.

The 40 page 2010 Hoboken Real Estate Report is now available. .

It's my best yet. Really good stuff. I will share over the next couple of months in this blog. Get it today for free. To anyone who reads it, leave some feedback and I will put you on the preview list for quarterly reports.

The 2010 Hoboken Real Estate Report Is Now Available

Hoboken Real Estate Stats March 1-14

2011-03-14T18:26:00.000-07:00

Hoboken Real Estate Stats March 1-14

The number of condos for sale is holding steady at 375 even with 70 "new to market" condos.

A reminder that the tax appeal deadline is April 1st.

The 2010 Hoboken Real Estate Report Is Now Available!

Mar 1-14 Hoboken Real Estate Report

My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

This Week In Hoboken Real Estate: Feb 15-28

2011-02-28T18:30:00.000-08:00

This Week In Hoboken Real Estate: Feb 15-28

February: The Mouse That Roared.

The number of condos for sale is climbing all the way to 374. A lot of 2010 retreads in there though.

The 2010 Hoboken Real Estate Report Is Now Available!

Feb 15-28 Hoboken Real Estate Report

My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

Hoboken Open Houses feb 26 & 27

2011-02-26T07:46:00.000-08:00

Hoboken Open Houses Map Feb 26th & 27th

I'll be at 300 Newark Street Sat and sun 12:30-2:30.

Lots of buyers are out. A good time to sell.

From Doorfly.com.......

Top 10 Reasons People Decide To Buy A Home
Renting is a very frustrating way of life. The money you pay every month disappears, leaving you with few benefits other than a roof over your head. Compared to owning a home, renting is a futile exercise that leaves you with nothing after your lease is up. It’s no surprise that people want to get out of the rent race, and here are 10 reasons why people decide to buy a home versus renting.

1. They Want to Build Equity
Homebuyers build equity as their property increases in value over time. This equity has many benefits, including the ability of a homebuyer to leverage equity in lines of credit to make repairs or additions to their home. Equity is a powerful thing and a natural consequence of home ownership. Renters never gain equity in their rental space, and at the end of their lease they are thrown out on the street with nothing to show for years of on time rental payments.

2. They Don’t Want to Throw Their Money Away
Without equity, what does paying your rent on time gain you every month? The truth is that paying rent guarantees a roof over your head for about 30 days and nothing more. In that sense, renting is like an extended stay hotel in that at the end of your rental period or lease you have nothing to show for the money you’ve paid. This makes renting a terrible investment when compared to home buying.

3. They Want More Space
It’s incredible how little you get for your rental payment each month. Most renters are lucky to have even a tiny balcony, let alone roomy closets o storage space. Many homes come with luxurious yards and spacious garages for storage. This makes buying a home an attractive option for those who prefer to stretch their legs.

4. They Want to Make Upgrades
Most leases forbid the renter from altering the rental space. For those do it yourselfers, this can mean a boring living experience. Home buyers are not only allowed to make upgrades, but doing so can be a great investment and raise the overall value of your home. From an investment perspective, this is a no brainer.

5. They Don’t Want to Pay Extra to Own Pets
For those pet lovers out there, renting can be a major financial undertaking Pet deposits can be very expensive, and some apartments add a monthly premium to rent just for having a pet, and separate deposits/premiums for each pet. These fees can add up fast! Homebuyers don’t have to deal with these sorts of fees, and they can also typically provide a better environment for their pets as well.

6. They Don’t Want to Be So Close to Noisy Neighbors
Have you ever lived on the second floor of a 3 story apartment complex? Wild partiers underneath blaring music at 4AM and home fitness gurus doing jumping jacks above you can make you realize just how annoying living so close to your neighbors can be. Homebuyers can sometimes deal with annoying neighbors as well, but at least they’re not rattling your chandelier when they stomp their feet down the hallway.

7. They Don’t Want to Deal With a Landlord
Sometimes dealing with a landlord can be tough. Some landlords are not very friendly or flexible, and won’t hesitate to throw you on the street if rent isn’t on time. Other landlords can be so distant that problems with rent or appliances don’t get resolved for months or even years. As a homeowner, there’s no landlord to deal with and you have the freedom and independence of conducting business on your own terms.

8. Their Hobbies Make Renting a Bad Idea
Drummers and musicians need a place to live, but do you want them living above you in a cramped apartment complex? For those renters who have hobbies or professions that are noisy or require space, renting just isn’t an option for them. Owning a home with plenty of space is their only way to go.

9. They Don’t Want to Deal With Deposits
Security deposits? These never seem to work out in the renters favor and come moving time it always seems like every little problem leads to forfeiture of the sometimes huge security deposits we have to pay just to sign the lease. Home buyers don’t have to deal with this as their home is more closely tied to their assets and their individual independence.

10. They Want to Live the American Dream
Owning a home is a big part of the American dream, and most people would say that the independence, autonomy, and sense of accomplishment that owning a home brings is an essential part of the American way of life. Does renting an apartment do the same?

These free maps are a service of Brian Murray. Open houses are a great way to get a high level view of the market when just starting your search but keep in mind the following important items:

1) Open houses only represent a small portion of what is available. On any given week end in Hoboken, there are between thirty and sixty open houses. This represents as little as 5% of the total inventory. A buyer who is just starting out should see open houses in different price ranges to understand what your money will buy in terms of square footage and location. Beyond and initial five or six open houses, a realtor will save you time by working with you to help define your wants versus your must haves and the properties that really fit you best.

2) The realtor at the open house works on behalf of the seller not the buyer. The relationship is defined by NJ state law that the agent holding the open house, as part of the listing realty, is working as a seller's agent. If you tell the agent anything regarding your motivation or price range, they are obligated to tell the seller.

3) You can choose to work with any realtor even to purchase a home viewed at an open house. Meaning if you see a home you like at an open house, don't be bullied into using that agent to sign a contract. You can certainly use a seller's agent if you wish, but you can choose to work with any realtor to write, present, and negotiate the offer on your behalf.

4) The Hoboken Real Estate market is competitive. If you already have a happy relationship with an agent, let the person running the open house know as a courtesy. If you plan to work with an agent but haven't yet looked at homes together, list that realtor on the sign in sheet. There are two reasons agents have a sign in sheet. First to market their services to you. Second is for security.

5) You are not wasting my time because you are just starting out and not sure what you want. If you find value in the open house maps,The Hoboken Market Trend Report, The Hoboken Weekly Market Conditions Snapshot, The Hoboken Real Estate Report, my blog or any of the other types of information and services that I provide, please contact me before you start your search. Often, I can help you choose the best or most represntative homes to see and can schedule a few hidden gems that we can see with an extra twenty minutes.

Open Houses By Bedrooms: One Beds, Two Beds, Three Plus Beds

Open Houses By Price: Upto $430k, $430- $550k, above $550k

Map Legend:Yellow= Studio, Blue= 1 Bedroom,Red= 2 Bedrooms,Orange=3+ Bedrooms (includes mulifamiles)

Information is deemed reliable but not guaranteed.

Hoboken Open Houses Map weekend of Feb 12 & 13

Oil Up. Rates Down.

2011-02-24T11:44:00.000-08:00

From The IHRE Mortgage guy.....

**Keep in mind that every borrower’s situation is different, and each must be evaluated individually.

Rates could be higher, or lower, depending on each individual scenario!!**

REVISED February 23rd, 2011---- 12:00 PM ET
Lock Period = 45 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.875%/ 4.913% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.396% APR

15 YEAR FIXED----------------------------- 4.250%/ 4.298% APR

5 / 1 ARM------------------------------------- 3.500%/ 3.211% APR

7/1 ARM ------------------------------------ 3.875%/ 3.586% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 5.125%/ 5.136% APR

15 YEAR FIXED ------------------------- 4.500%/ 4.527% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.375%/ 5.391% APR

30 YEAR FIXED INTEREST ONLY-- 5.625%/ 5.638% APR
15 YEAR FIXED--------------------------- 4.500%/ 4.527% APR
5 / 1 ARM------------------------------------- 3.999%/ 3.623%APR

7/1 ARM -------------------------------------- 4.250%/ 3.998% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR -- .50% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over $1 million or rates on FHA loans**

www.mundymortgages.com

This Week in Hoboken Real Estate Feb 8th-15th

2011-02-15T16:53:00.000-08:00

This Week In Hoboken Real Estate: Feb 8-15
You Don't Bring Me Flowers...
...just 2010 retreads. The number of condos for sale is climbing. A lot of 2010 retreads in there though.

The 2010 Hoboken Real Estate Report Is Now Available!

8 Contracts in 7 days!. 21 Price changes. 20 solds.... total available up to 369.

Feb 8-15 Hoboken Real Estate Report

My sellers are out there. Why? becasue they want to sell. When is the buyere going to get the best deal? Now. When is the seller going to get the best deal? Now. My sellers are going to contract, having multiple offers, and reducing prices to be competitive.

Hoboken Open House Map Feb 12 & 13

2011-02-12T08:07:00.000-08:00

Hoboken Open Houses Map Feb 12th & 13th

I'll be at 300 Newark Street Sat 1-3 and sun 12-2.

Be My Valentine

House hunting is a lot like looking for love. Open House here, open house there. You have to kiss a lot of frogs before you find your prince (ss). A good realtor is a lot like having your own Patti Stanger, just nicer.

These free maps are a service of Brian Murray. Open houses are a great way to get a high level view of the market when just starting your search but keep in mind the following important items:

Open Houses By Bedrooms: One Beds, Two Beds, Three Plus Beds

Open Houses By Price: Upto $430k, $430- $550k, above $550k

Map Legend:Yellow= Studio, Blue= 1 Bedroom,Red= 2 Bedrooms,Orange=3+ Bedrooms (includes mulifamiles)

Information is deemed reliable but not guaranteed.

Hoboken Open Houses Map weekend of Feb 12 & 13

Hoboken Mortgage Rate: 5%

2011-02-09T13:27:00.000-08:00

The Latest Hoboken Mortage Rate:

REVISED February 9th, 2011---- 4:00 PM ET
Lock Period = 45 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 5.000%/ 5.083% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.396% APR

15 YEAR FIXED----------------------------- 4.375%/ 4.391% APR

5 / 1 ARM------------------------------------- 3.500%/ 3.211% APR

7/1 ARM ------------------------------------ 3.875%/ 3.586% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 5.125%/ 5.136% APR

15 YEAR FIXED ------------------------- 4.500%/ 4.527% APR

** Loan amount restrictions based on county and property type. Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.375%/ 5.391% APR

30 YEAR FIXED INTEREST ONLY-- 5.625%/ 5.638% APR
15 YEAR FIXED--------------------------- 4.500%/ 4.527% APR
5 / 1 ARM------------------------------------- 3.999%/ 3.623%APR

7/1 ARM -------------------------------------- 4.250%/ 3.998% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products could be lower with a 25% down payment or more

** There may be a rate add-on for condominiums and multi-family homes

*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR -- .50% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over $1 million or rates on FHA loans**
thanks mike mundy www.mundymortgages.com