nj: New Jersey Apartment Complexes | Multi Family Investing - 05/09/11 05:49 PM
As the Northern New Jersey housing market works into its final stages of finding the bottom in many sub-markets, more and more demand for rental units continue to heat up.  Challenging home financing requirements, foreclosed / short sale homeowners who are pretty much forced to rent, and preference of lowering personal living expenses are just a few reasons for why people are renting, resulting in lower vacancy rates.  As a result, more investors are on the hunt for New Jersey apartment complexes for sale.
Finding the right apartment complex or multi-family dwelling can be tedious but tremendously rewarding.  As inflation nears, … (0 comments)

nj: How to short sale my New Jersey Home - 03/28/11 01:01 PM
UPDATE: Watch the following video to learn how to effectively short sell your home in NJ.  Remember homeowners:  This does not cost you anything.  If you are in default of your mortgage, typically the bank pays everything INCLUDING but not limited to the realtor fee, closing costs, taxes, insurance, etc…
As short selling a home becomes increasingly popular, we would like to invite potential short sellers for a free consultation.  As most of our clients are aware, we also have an office in Florida, where short sales have been pretty much the average transaction for the last 2 years.  The owner … (0 comments)

nj: Christie puts indefinate kabash on proposed NJ/NY ARC project - 11/02/10 06:17 PM
Dammit!!  I really want this to happen but the Governor is right about the money.  Who on God’s green earth is going to help us pay for this???  Twice now, Governor Christie has decided to scrap a new rail tunnel project know as ARC.  Although he did not contend that it was unnecessary or a bad plan, the reason for the smackdown was because the state simply could not afford it.  The decision is likely to earn Christie some points with New Jerseyans.
The new proposed tunnel to Manhattan from NJ was intially estimated at an $8.7 billion dollar project.  The federal government … (0 comments)

nj: Rutherford NJ Real Estate | Homes for sale | Absorption and Market Report - 07/08/10 09:32 AM
Another area in the suburbs we like is Rutherford, NJ, a quiet and peaceful place for you and your family and only minutes to NYC and the other metro areas of Northern NJ. For you partiers out there, Rutherford is a B.Y.O.B town with plenty of great restaurants and landscape to enjoy.  Armed with a great school system, real estate taxes are less than Montclair at least with just as much convenience. 
One very big asset for Rutherford NJ Real Estate is its direct public transportation system into Manhattan which takes about 15 minutes from door to door via NJ … (0 comments)

nj: Nutley NJ Homes for sale and Monthly Market Report - 06/24/10 11:06 AM
One of my favorite areas of the northern NJ suburbs that I have neglected recently is Nutley.  Nutley is a unique town with its beautiful downtown district lined with some of the best affluent restaurants you will ever visit.  Nutley is the perfect area to raise a family and offers affordable homes with walkability to anything you need.  Considering the fact that I lived right on the border of Nutley, in Bloomfield, I consider Nutley one of my areas I know best.
NJ Real Estate activity in Nutley has been fluctuating to say the least.  Over the last 3 years, the … (0 comments)

nj: New Jersey Section 8 Investment Property NJ - 01/26/10 10:18 AM
Scott Allan of NJ Real Estate Guys has respectable experience in Section 8 investing in NJ.  Our current Section 8 markets include but are not limited to Jersey City, Clifton, Passaic, Newark, and East Orange.  Contact Scott for further details on available multi-family properties.  Stay tuned for our "Section 8 Property of the Week" Post which we will post a link to right here.
I've been asked by several investors recently to share my take on NJ Section 8 Investment property.  My partner is a landlord who owns a 22 apartment unit building.  Of those 22 units, 18 of them are … (1 comments)

nj: Multi Family homes for sale | West Orange NJ - 12/17/09 03:20 PM
If you are in the market to buy or sell a 2 family home in northern NJ, a great place to explore is West Orange real estate.  You can take a cruise up Eagle Rock Ave while passing the pristine Eagle Rock Reservation and taking in all the breathtaking views.
As of December 2009, a nice West Orange multi family home for sale can be purchased for anywhere from $280,000 to $400,000.  It looks as if the majority of them are in the low $300,000 range.  In that price range, a homeowner or investor can enjoy a solid monthly pro forma, cash flow, or … (0 comments)

nj: Glen Ridge Homes For Sale | Absorption Rate | Reports - 12/15/09 01:05 PM
December 2009 Report | Glen Ridge Homes for sale, homes sold, etc (statitstics comprised from GSMLS and based on Single Family Homes)
Welcome to our monthly housing report update for Glen Ridge, NJ.  Glen Ridge is one of the wealthiest individual towns in New Jersey.  It's blue ribbon and nationally reknown public school system is one of the reasons for its unique real estate tax rate, one of the highest in the state, however well worth it if you value overall location, curb side appeal, and your children's scholastics. 
Year over Year Sales numbers have been rather consistent with last years and we did not see a drastic drop … (0 comments)

nj: Bloomfield NJ Real Estate Report | Inventory and Absorption - 11/05/09 03:04 PM
November 2009 Bloomfield Real Estate Report
Welcome to our Bloomfield "State of the Market" article for November 2009.  Recently, we have seen a lot of activity in Bloomfield and this is largely due to the First Time Homebuyer Tax Credit.  The recent extension through April for the credit will only further assist in real estate absorption.  There have been many requests for information on single family homes and multi-family homes around the Brookdale Park area of town, on and around Watchung Ave.  Great choice and if you give us a call we can tell you a few important details about the area … (2 comments)

nj: Franklin Lakes NJ Real Estate Report 2009 - 11/05/09 03:02 PM
November 2009 Report | Franklin Lakes Real Estate (statitstics comprised from NewJerseyMLS and based on Single Family Homes)
Welcome to our monthly housing report update for Franklin Lakes real estate.  Franklin Lakes remains one of the most prestigious towns in the state and one of the tops in the country in regards to home prices.  Market confidence could increase a bit more with the First Time Homebuyer Tax Credit extension which is now available through April 2010, however most income levels in Franklin Lakes will not qualify for the Tax Credit, even with the new increased income limits.
Year over Year Sales numbers are identically … (0 comments)

nj: Hoboken NJ Real Estate Report | Condo Sales - 11/04/09 06:41 AM
The following is a report for Hoboken real estate and condos sold during the month of October.  Year to date numbers are included as well.  Only condos have been included in this report.  Don't forget...If you would like to search for Hoboken condos for sale, visit our MLS/IDX searching tool  and call NJ Real Estate Guys at 877-688-7582 to set up a showing appointment or if you would like info on how we can help sell your condo.
Hoboken Real Estate Report - October 2009 Condo Sales
The total number of Hoboken condos sold was 74 in the month of October.  This brings the … (0 comments)

nj: Hoboken NJ Short Sales - 10/14/09 02:02 PM
The number of Hoboken short sales has risen from 6 to 10 in just a couple of weeks.  Remember, all short sale buyers must be willing to stay patient as some banks take as long as 5 months to make a decision on an offer, although recently, banks have picked up the pace and we are seeing 60 day turnarounds.  Although we will likely see an increase in shortsales, don't expect the current trend of sales to slow.  Sales activity is up, and the new approval of 1,600 local Wall Street jobs will not result in a slow down.  So without further … (0 comments)

nj: Maxwell Place Townhomes | NEW - 10/14/09 12:32 PM
Where can you find over 2,700 sq ft of living space, covering 3 Floors, looking directly at Mid-town Manhattan?  One of the most exclusive luxury complexes in New Jersey and the finest of Hoboken real estate- Maxwell Place on the Hudson.
Most of us here know about Maxwell Place, but we're not sure how many know of the 10 exclusive townhomes they've developed on the Eastern side of the 1125 building. 
Starting just under $2.2MM and going up over $2.7MM these are, no doubt, some of the most unique homes currently on the market.  Until recently, the main option to purchasing a condo … (1 comments)

nj: Buying a 2 family home in New Jersey - 10/08/09 01:08 PM
Recently, I have been a huge advocate of first time homebuyers having an open mind to multi-family homes in northern NJ.  For the sake of argument, I am going to use Clifton, NJ as my example since my most recent inquiries were for Passaic County. 
Let's assume renters, or you are paying $1,250 for half of a 2 family home.  Their apartment is likely 2 bedrooms with a full bathroom and a total of 5-6 rooms.  This is about the average. 
Are you familiar with FHA financing?  If you are still renting because you cannot afford conventional financing's requirement of 20% … (0 comments)

nj: Waldo Lofts | Jersey City NJ - 09/28/09 01:47 PM
Waldo Lofts is a Jersey City development consisting of 82 spectacular loft style condominium residences in Jersey City, New Jersey.  The 12 story building was designed to complement the older industrial architecture of the surrounding 20th century buildings with a red brick facade, decorative trim work, and expansive arched and energy efficient windows allowing tons of natural sunlight into each residence. 
Waldo Lofts is perfect for those who love big furniture since the floorplan layouts are spacious and give a true lofty feel.  Large walk-in closets are included in the near 200 sq. ft. master bedroom.  Offering 700 to 2,400 square … (0 comments)

nj: Ramsey NJ Real Estate Report on Homes sold and for sale - 09/17/09 02:22 PM
Due to popular request, I am going to do a mid-month Ramsey NJ real estate report.  Due to increased website traffic and homebuying inquiries, it looks like there are a few indicative factors.  First, the tax credit available until the end of the year has people determined to hit the deadline.  Second, low rates may have buyers thinking about inflation control where the Feds could increase the key interest rates soon to stave off inflation.  And three, historically low home prices.
So without further ado, the real estate report below is from housing data gathered from both the GSMLS and the NJMLS.  … (0 comments)

nj: Zephyr Lofts | Hoboken Condos for sale - 09/17/09 02:17 PM
Designed as a 13 story condominium loft-style building, Zephyr Lofts is a residential complex with character and flair located where Jersey City meets Hoboken on Marin Blvd in Hudson County, New Jersey, and located about 1/4 of a mile from the Hoboken Terminal for ultra commuter convenience.  Zephyr Lofts is a full service luxury loft building designed with contemporary tastes.
Of the 102 residential lofts and condos, there are a mixture of Studio, 1 and 2 bedroom units ranging from 800 - 1,800 square feet.  In a studio loft, get the true artist-living feeling.  For a little more space,  live in luxury in a 1 bedroom loft … (0 comments)

nj: Verona, NJ Real Estate | Report on homes sold and for sale - 09/15/09 12:51 PM
As we reported from a previous article, Verona home prices have come down about 14% from peak.  Our opinion is that it is unfair to relate to peak prices anytime soon, so instead of giving end over end real estate numbers from last year this time (which was when our financial markets were in a tail spin), I am going to take the most recent 3 months, the majority of summer, and see where Verona homes have fared. 
For the sake of this article, I am going to reference the time between June 1, and now.  All information gathered is pulled … (0 comments)

nj: New Jersey Penthouse Living - 09/12/09 08:51 AM
When one thinks "Penthouse", you may think of a few things:  Location, Luxury, Lifestyle.  Those are 3 of the most obvious reasons for looking into purchasing a penthouse for sale in New Jersey.  There are several areas along the Gold Coast of the Hudson River to find a luxurious condo/penthouse where celebrities and executive-type businessmen/women can enjoy both walks of life in NJ and New York. 
If you are looking for convenience, location, yet distant enough from the crazy nightlife, try Weehawken, the neighboring city to Hoboken.  In Weehawken, it is worth having New Jersey Real Estate Guys taking you for … (1 comments)

nj: Ridgewood NJ Housing - 09/08/09 11:38 AM
During the course of the summer, Ridgewood NJ real estate activity has been above average.  With prices lower than what they were a year ago today, Ridgewood did not experience the significant price adjustments that many other areas of the state has experienced.  OK, so my title is misleading.  The 3rd quarter of the  year is not up yet, but I wanted to write about something today, and I figured I'd do the piece on Ridgewood homes for sale, homes sold, etc.  Oh, and by the way, if you haven't heard about Graydon Pool's new proposed plans, you should check it … (0 comments)

 
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Scott Allan

Hoboken, NJ

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Weichert Realtors

Address: 1 Newark Street, Hoboken, NJ, 07030

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