Brian Murray

Hoboken condos: The new construction of 151 conods at 1450 Washington Street by Toll Brothers is cranking. Here are the latest updates.

Condos sold at 1450 Washington.... over 50%.

First Closing schedule by Toll Brothers....Feb 15th.

2011 Hoboken Real Estate Annual Report by Brian Murray Hoboken Home Finder

Get the free 30 page report at www.hobokenmarketreport.com

683 Hoboken Condos Sold in 2011

40% reduction in number of Hoboken Condos for sale.

A look at the possible Hoboken Condo shortage in 2012.

Hoboken Condo Prices On The Rise?

If you haven't moved yet don't be surprised that come spring, gas prices aren't the only thing on the rise. I know I am beating a dead horse and I'll beat it some more until more hoboken condo oners get it. This is not Jersey City. It's Hoboken, with a capital H for housing supply shorter than the time it takes to get a ticket on an expired meter.

Lets look at the facts:

1) Interest rates are low, making cost of ownership more affordable.

2) There isn't a significant amount of new conod construction coming to the Hoboken market if you exclude 1450 Washington

3) Rents are spiking. There is no place to rent. Owning a condo is a better deal than renting in most cases, even without the tax breaks for mortgage interest. Renters will tell you. It's ugly out there.

4) Inventory is at five months. A sellers market.

"Oh Andy loved geology. I imagine it appealed to his meticulous nature, an ice age here, million years of mountain building there. That's all it takes really, pressure and time. That and a bug goddamn poster." -Shawshank Redemption

Will prices rise? Old Red was right. Pressure and time. Pressure and time. No poster needed but how about a video.

Stat to know: Number of Hoboken condos under contract June -October 2010: 269. Number of Hoboken condos under contract June -October 2011: 271.

hoboken condos oct 2011

The Hoboken Condo Report for October 2011 is available now. This exclusive report of the Hoboken condo market is brought you exclusively from Brian Murray of Empire Realty.

Here are some of the highlights...

Forty Three Condos sold in Hoboken in 2011. This compares with fifty four condos sold in Hoboken last October. The real number to look at is the available inventory has dipped below 275.

Hoboken Parking: Extended Hours To Better Serve You

This town gets better by the day. The always conscientious and considerate parking HPU is extending its hours to serve the community. First a bank open 7 days a week and now the HPU protecting our streets from parking offenders until 2am. It is apparent that the HPU is hearing the community loud and clear. Just the other day I am in line at Stop and Shop and I overheard two guys complaining that meter maids seem to just disappear at 8:59pm. How ridiculous when the meters run until 9pm. There's never any place to park after 9pm. Now Lovely Rita will be on the beat until 2am and it's only a matter of time that the meters will be extended until the new close. Why shouldn't those out of town clubbers feel the pain of running out and pumping quarters in every two hours like the business people. Wait until they find out that they have to move the car every two hours regardless.

I am excited that the town has found a new revenue stream. The tried and true of throwing up no parking signs and towing cars just isn't ringing the cash register like before. I can only hope the city decides to make real money and auction off PPLs. (Personal Parking Licenses. ) It work for the Jets...um, I mean Giants. Each year HPU can auction of the street parking spots. All that extra coin can fund the anti-corruption and governmental mismanagement department.

Here's the post on www.hobokennj.org

In response to resident requests for improved parking enforcement services during evening and late night hours, the Hoboken Parking Utility will commence a third shift to extend into the early hours of the morning, beginning in October. Enforcement during these hours will be focused on abuse of limited resident parking space via permit parking regulations on residential streets, as well as various safety concerns that impede emergency response vehicles from navigating narrow streets. The new extended schedule also allows the HPU to relieve the Hoboken Police Department from assuming the responsibility of parking enforcement during hours when enforcement by HPU was previously not scheduled.

“We regularly hear from residents who feel that illegal parking goes unchecked in the late hours, especially on Friday and Saturday nights,” said Transportation and Parking Director Ian Sacs. “This additional shift will focus on addressing those concerns.”