Jersey City, NJ

Jersey City Real Estate Market Report Q4 2009

01-31-10

Matt Brown

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Office: (201) 805-7403

Jersey City Real Estate Condo Market Report Q4 2009 (edit/delete)

To download the full PDF and see the full Jersey City Real Estate Condo Market Report visit our website here:

http://www.hudsonrealtygroup.com/real_estate_downloads/market-reports.html

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Sound wind farm dispute nears climax

01-23-10

Frank Festa

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Office: (908) 561-5400

Mobile: (908) 295-1639
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Whatever decision comes out of meetings hosted tomorrow by U.S. Interior Secretary Ken Salazar to negotiate a deal on the proposed Nantucket Sound wind farm is bound to leave somebody unhappy.

Salazar called for the meetings last week on the heels of a finding by the National Park Service that the Sound is eligible to be listed on the National Register of Historic Places based on its cultural and archaeological significance to Indian tribes on Cape Cod and Martha's Vineyard.

Eligibility for the list of historic locations considered worthy of preservation does not mean the end for a plan by Cape Wind Associates, LLC, to build 130 turbines in the Sound; but with a compromise unlikely between the company and opponents of the project, Salazar will have to consider the finding as he decides whether to approve the project. Salazar has the final say on Cape Wind because the lead federal agency to review the wind farm - U.S. Minerals Management Service - is a division of Interior.

The participants invited to three meetings tomorrow at Interior headquarters in Washington, D.C., include nearly a dozen Cape and Islands towns, five Indian tribes and opponent and proponent organizations. Salazar will first meet with representatives from the Mashpee Wampanoag, the Wampanoag of Gay Head (Aquinnah) and the Assistant Secretary of Indian Affairs, according to Interior Department spokesman Frank Quimby.

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Jersey City, NJ, 07306 - For Sale By Owner

01-11-10

Caroline Huising

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Jersey city, NJ - for sale by owner at Fizber.com

Price: $152,000

FIZBER.com ID 13696085

Condo/Townhome/Co-op with 1 bed, 1.0 bath, in 42 Van Wagenen Ave apt.2 Jersey city, NJ, 07306

http://www.fizber.com/13696085/

42 Van Wagenen Ave apt.2 - For Sale By Owner

Property Details:

Type:	Condo/Townhome/Co-op
Address:	42 Van Wagenen Ave apt.2, Jersey city, NJ, 07306
Sq footage:	540.0
Floors:	n/a
Bathrooms:	1.0
Bedrooms:	1
Year built:	0

View full property details and seller's contacts.

View more New Jersey homes for sale.

Homes for Sale by Owner.

Description:

540 sq.ft.
Nicely updated kitchen with new cabinets and top of the line stainless steel appliances.
Close to PATH station (0.5 mile)
Parking possible on a corner for $100/month
low tax, mf $235(heat and hot water included)

More Photos:

for sale by owner at Fizber.com

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2010 Market Assessment

01-10-10

Paul Luykx

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Office: (800) 405-0607

Secondary: (201) 918-5443

Market assessment

The 30yr fixed is expected to go up to around 6% as the Fed stops buying mortgage backed securities in March, the home buyer tax credit program will expire the following month, and foreclosures are expected to flood the market. Prices are expected to drop. Prices may come down, BUT the cost of borrowing (30yr fixed) will likely go up about 20% (from 5% to 6% is a 20% increase cost of borrowing), compensating for possible lower prices. Low prices may be obtained by purchasing foreclosures. FHA and Fannie are trying harder to sell REOs. Lastly, the trend in mortgage lending is still towards more restrictive criterica, adding to processing time: Full prequals and credit score planning important! - I wish all of us a succesful 2010! - Paul

Tax credit deals

If a purchase needs to be eligible for a home buyer tax credit, get fully pre-approved, buy asap, and get a rate lock with a floatdown right away. Don't wait! The gridlock for the Nov 30 tax credit dependent sales (mortgages) was horrific and the extension of the program avoided last moment buyers losing out on their tax credit.

Foreclosures

Fannie Mae is offfering REO properties through Homepath.com. For HUD (FHA) REOs go here. Note that Prospect Mortgage is one of the few approved Homepath lenders, and we also offer the $100 down mortgages for the HUD foreclosures. Both HUD and Fannie are keen to sell.

Credit scores

Loan requirements and pricing are becoming even more dynamic. The minimium Fico is formally 620 (for now). With compensating factors a 560 score still offers possibilities. To get best rates, plan for a 720 score, which will give you a 0.375%-0.50% better rate then with a 620 score, depending.... Contact me for assistance.

Mortgage modification are still a disaster
The Obama administration's mortgage modification program was originally projected to keep 3-4 million people in their homes. Promised help is sorely lacking. To date, almost a year after launch, it has permanently changed the mortgage terms of only 31,000 homeowners. Opportunistic loan defaults have not helped either. It was easier to get a loan modification in mid 2008 then it is today!

Available
- Direct lender for FHA, Fannie, Freddy, VA, USDA, Jumbo, other loans
- Same day loan decision
- 30-day closes (45-days for FHA)
- FHA loans down to 560 Fico
- 50-70% LTV stated income loans (600-700 Fico needed)
- Loans for non-residents
- Rehab and construction loans
- Non-warrantable property loans
- Reverse mortgages
- Commercial loans

________________________________________

"If you only do what you know you can do - you never do very much."
Tom Krause

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Washington state to implement e-recycling law.

11-17-09

Frank Festa

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Office: (908) 561-5400

Mobile: (908) 295-1639
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The Washington state SenateThe Washington State Senate is the upper house of the Washington State Legislature. The body consists of 49 Senators, respresenting an equal number of districts across the state, each with a population of nearly 120,000.

..... Click the link for more information. has passed a bill that aims to boost recyclingrecycling, the process of recovering and reusing waste products-from household use, manufacturing, agriculture, and business-and thereby reducing their burden on the environment.
..... Click the link for more information. of electronics in the state.

Senate Bill 6428 passed the Washington state Senate by a vote of 38-11 and the House by a vote of 69-29.

The bill requires electronics manufacturers to develop and fund an electronics recycling program in the state that uses community drop-off centers run by retailers, nonprofits and government agencies.

In a press release, Rep. Brian SullivanBrian Sullivan is a women's basketball assistant coach at Bellarmine University. Bellarmine is an NCAA Division II program that competes in the Great Lakes Valley Conference. This is Sullivan's second stint with the program, following one season with the Lady Knights in 2003-04.
..... Click the link for more information. (D-Mukilteo), chair of the House Natural Resources, Ecology and Parks Committee and sponsor of the House version of the bill, says, "The beauty of this approach is that it makes recycling simple and free for consumers and links electronics recycling with electronics manufacturingThis article presents a typical manufacturing process of an electronic assembly.

Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors.

..... Click the link for more information., allowing companies to save money if they reduce their use of toxic materials."

The bill was supported by Hewlett Packard, Amazon.com, Wal-Mart and the Washington Retail Association as well as by local governments and environmentalists, according to according to
prep.

1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3. Sullivan.

The bill has been sent to Gov. Christine Gregoire Christine O'Grady "Chris" Gregoire (born March 24, 1947) is the Democratic governor of the U.S. state of Washington. Gregoire's election to the office in 2004 was notable for her historically slim margin of victory over Republican Dino Rossi, who had appeared to defeat Gregoire on for her signature.

According to the bill, manufacturers must participate in an independent plan or the standard plan to implement and finance the program no later than Jan. 1, 2009, and must register with the state by Jan. 1,2007, and annually thereafter.

Manufacturers must submit their initial independent plans or the standard plan by Feb. 1, 2008, according to the bill. The state Department of Ecology will review each plan.

Paul Stillwaggon,
For All Your Real Estate Needs
Contact New Jersey Estates
Real Estate Group
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