Jersey City Condos

Fourteen Jersey City waterfront condos sold this past week ending October 5, 2013.  Of the 14 condos sold two were at the Trump Plaza, 88 Morgan Street and one at the Mandalay on the Hudson building 20 2nd Street, Jersey City.  In the Trump building one of the 2 condos sold above list price at 100.01%, while the other sold at 97% of sale to list price.  In the Mandalay building the condo sold at 98% of sale to list price.   A lack of inventory in the downtown Jersey City area is one of the main contributing factors to high sale to list price ratios.  With the steady increase in interest rates this trend is expected to continue.  Sales were also recorded in the Crystal Point Building, at 700 Grove, and at 70 Essex Street.  If you are interested in buying a condo or selling your condo feel free to contact me Janice Hall at 201 232 8577.

As the year draws to a close some condo owners are turning their thoughts to putting their house on the market next spring. If you are one of those condo owners, now is a good time to have someone take an unbiased look at your home. Ask an agent, a friend or neighbor. Or do it yourself. Begin with the exterior. Curb appeal is most important, first impressions are lasting and it will pay off to make a good impression on the potential buyer. Take a look at the entrance, the stairs, the elevator, the front door. Is the entrance being maintained? If things are not as they should be then you aught to consider having a chat with those responsible for the upkeep. If door mats are allowed in the hallway, get a new one. Is the door chipped and in need of paint? A coat of paint or a new door will make a world of difference. Discard the faded wreath and buy a seasonal door decoration. If you need help as you try to figure out if you should put your Jersey City condo on the market and what needs to be done before you do, don’t hesitate to contact Janice Hall, Weichert Realtors, 201 232 8577. I am only a phone call away.

If you are looking for an affordable condo to buy in the Jersey City downtown area, there are a couple new listings on the market that might interest you.  Of the eleven condos added to the inventory over the past week, 3 are priced under $450,000.   They are spacious, between 850 and 1100 sq ft, and within close proximity to the trains.  The other new listings to come on the market recently range in price between the mid 600,000 and 1.1 million, and 1100 to 2000 square feet.  These condos are at the Portofino, James Munroe, Liberty View and Bank Condo buildings.  If you would like to see any of these downtown Jersey City condo for sale call Janice Hall at 201 232 8577.

10 new listings have been added to the Jersey City downtown inventory since the beginning of the week.   If you have been waiting to buy an extra large condo on the Jersey City waterfront now is the perfect time for you to do so.  The Shore Club and its sister propety 20 Newport Parkway, now offer over 2200 sq ft of living space with 4 and 3 bedrooms respectively.  For more information on these 2 new listings and for all condos for sale at the Jersey City waterfront call Janice Hall at 201 232 8577 or email me at janiceNJrealtor@gmail.com

Thinking about buying a condo in Jersey City but worried about the rising interest rates on a 30 year fixed?   You may just want to consider the jumbo ARM mortgage.  Interest rates on the jumbo ARM now run in the low to mid 3%, a marked difference to the 30 year fixed mortgage.  This means you can buy a condo on the Jersey City waterfront  for $600,000 and pay $600 per month for the loan.  The average buyer in downtown Jersey City moves within 5 to 7 years after purchasing a home.  The ARM mortgage gives the buyer more buying power and is an attractive alternative especially with home values steadily increasing and expected to continue this trend.  If you are thinking about buying a home in Jersey City contact Janice Hall, Weichert Realtors at 201 232 8577 or email janiceNJrealtor@gmail.com.