Hudson Realty Group Update – April 2016 Edition | Hoboken and Jersey City Real Estate


HUDSON REALTY GROUP’S
 

MONTHLY REAL ESTATE UPDATE

      
APRIL 2016 EDITION

          

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UNDER CONTRACT

 

     

     

 

HOBOKEN HISTORICAL MUSEUM

We’ll recreate the romance of moonlit river strolls, the pleasure of picnics on the grass, and the excitement of the birth of America’s favorite pastime – baseball – in the place it all began! 

Click here for tickets

 

COMMUNITY EVENT

 

“Get Your Game On: Support Education in Our Community” 
   
Swing Fore The Schools Golf Outing – 2016


The 2016 Swing Fore the Schools Golf Outing is
celebrating their 6th year! 

Held at the incomparable Crystal Springs Resort,
Thursday June 2nd at 11am.

Come out and show your support for 6 local schools
in your community: Elysian Charter School, Hoboken
Charter School, Hoboken Dual Language Charter School (HOLA), All Saints Episcopal Day School, Mustard Seed School & Stevens Cooperative School.

         

 

REAL ESTATE AND COMMUNITY NEWS

 

LIVABILITY.COM: THE 8 BEST CITIES FOR WALKING TO WORK
1. Hoboken, NJ (Walk Score: 94.82)

“This “small town” is also one of the most walkable cities in the country, with schools, grocery stores, public transit and parks available right outside your doorstep. Bonus: If you want to ditch the small town for big city living you can easily get to Manhattan via the PATH public transit system.”…

 

HOBOKENNJ.ORG: HOBOKEN TO HOST 22ND ANNUAL ARTS & MUSICL FESTIVAL

“Over 300 Artists, Crafters, Photographers, Sculptors, Food Vendors, local restaurants and businesses, non-profits, car dealers, children’s activities & more. Special kid’s section on 3rd St. 3 stages of music.”…

 

JERSEYDIGS: WHAT’S THE DEAL WITH THE POWERHOUSE? 
“Jersey City’s council then approved a letter of intent with Baltimore-based Cordish Companies to build a $179 million retail and commercial complex inside the Powerhouse. The plans, first announced in 2014, included a 40-story residential tower in addition to the Powerhouse renovation. Both Cordish and city officials said the tower was necessary because of a $40 million funding gap.”…

 

JERSEYDIGS.COM: TRADER JOE’S LONG-AWAITED HOBOKEN STORE GREENLIT BY CITY COUNCIL
“After reviewing the new plan, it was unanimously approved at the special council meeting. Now that they’ve received approval, the beloved grocer is one step closer to opening up shop in Hoboken.”…

 

NJ.COM: TOP 10 DEVELOPMENTS GOING UP IN JERSEY CITY

“Residential development is particularly strong, with 42 projects of at least 100 units each now in the works, totaling nearly 15,000 condominium and rental units over the next five years and another 13,400 units projected within 10 years after that, according to the Jersey City Division of Planning.”…

 

JERSEYDIGS.COM: 59-UNIT CONDO BUILDING APPROVED FOR 387 8TH STREET

“The plan calls for the demolition of the existing building to make way for a new 7-story structure designed by Minervini Vandermark Architecture. It will include 60 parking spots, just surpassing the required 1-1 parking ratio. In order to provide these 60 spots, they’ve integrated a lift system to double stack the cars.”…

 

PROPELLERFEST.COM: PROPELLER FEST MAY 20

“A day of inspiration, education, and fun. We have talks from tech luminaries. Virtual Reality. Drones. A startup competition. Networking with high-fives. And lots more. Plus, a concert as a grand finale.”…

 

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

 

   


   
M
ARKET RECAP


The residential real estate market in Hoboken and Downtown Jersey City closed out 2015 continuing the upward trend in sales activity and pricing we have seen over the last 4 years. Since 2011, condo prices have increased 38% (9.5% per year) in Hoboken and 49% Downtown Jersey City (12.4% per year). Over the 2nd half of 2015, inventory remained at all-time low levels with only 1 to 1.5 months of supply. Strong demand resulted in widespread competition for all property types and multiple bids were commonplace resulting a fast paced market with an average selling price very close to asking (46% of condos sold within 2 weeks on the market)….<continued in report>

 

MORTGAGE RATES

 

BANKRATE.COM: WEEKLY MORTGAGE RATES ANAYLSIS

3.83% 30yr fixed mtg   0.16 average points
    

“The typical 30-year fixed-rate jumbo mortgage rose 9 basis points to 3.76%. For the purposes of Bankrate’s survey, a jumbo mortgage is a loan that is at least $650,000.”…

“The average 5/1 adjustable-rate mortgage rose 8 basis points to 3.21%. With a 5/1 ARM, the rate is fixed for 5 years and adjusted annually thereafter.”…

 

 

 

               

 

DISCLAIMER: ©2015 by Hudson Realty Group at Halstead Property New Jersey LLC.  All Rights Reserved.  This mail is for the named addressees only.  If you are not the intended recipient, please delete it from your files.  All information is from sources deemed reliable but is subject to errors, omissions, change of price, prior sale or withdrawal without notice.  No representation is made as to accuracy of any description.  All measurements and square footage are approximate and all information should be confirmed by customer.  Halstead Property and Hudson Realty Group do not represent the sale of the new construction developments highlighted in this newsletter.  All rights to content, photographs and graphics reserved to Broker.  This information may not be copied, commercially used or distributed without Halstead Property’s prior consent. 

Hudson Realty Group at Halstead Property NJ LLC

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