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Just Listed.  Madison model end unit, interior facing with views of lush landscaped courtyard.  Beautifully maintained, gleaming wood floors, fireplace and large walk out deck perfect for evening cocktails. Master bedroom has valued ceilings, ensuite bath with dual vanity, tub and shower stall, and large walk in closet.  Community pool, extra parking for visitors, a short walk to Light Rail with access to NYC via PATH at Exchange Place.  Call Janice Hall at 201 232 8577 to see.

Sales in The Boatworks development in Bayonne New Jersey is showing signs on improvement.

Over the period April 2016 through April 2017 – 11 townhouses sold compared to the same period April 2015 thru April 2016 when only 3 houses changed owners.

The highest sold price for April 2016 – 2017 was $375,000 compared to $360,000 the previous year.

The median sale price 2016 – 2017 was $350,000.  It was the same for 2015 – 2016.

If you are interested in finding our how much your townhouse is worth call Janice Hall at 201 232 8577.

After several years of almost no growth the condo market in Bayonne is showing signs of a shift in the right direction.

With only 27 active condos on the market and 5 units under contract in the last 30 days, the Bayonne condo absorption rate is at 5.4.  This is the rate at which the market is absorbing condo inventory in Bayonne.   On a scale of 1-10, 5.4 indicates a shift away from a buyer’s market, something condos owners have not witnessed since 2008.

In comparison the multifamily market in the town has undergone a transformation compared to a year ago.  Currently the absorption rate for single family houses is 3.07 or 3.07 months of inventory.   For 2 family dwellings it is 1.25.  With demand out pacing supply for these houses it is a sellers’ market in Bayonne.

Interested in knowing the market value of your property in Bayonne?  Call Janice Hall at 201 232 8577.

Enjoy the serene Boatworks community away from the hustle and bustle of the town. This Penn style townhouse has classic updates to fireplace, light fixtures, and bathrooms. Loaded with additional features such as whole house surround sound, phone system and intercom, central alarm, recessed lights. The townhouse is set back from the street, driveway for 2 cars plus one car garage. Entertain in your living and dining rooms with walk out to additional “private” yard space. Community pool, boardwalk & marina. Close to Light Rail with access to PATH train to NYC. Buses to Exchange Place, Journal Square and Port Authority.   Call Janice Hall at 201 232 8577 to see this townhouse.

Move right into this completely refurbished 1800 sq. ft townhouse built in 2004.

There is an ultra modern look throughout with beautiful gleaming Brazilian cherry hardwood floors, an updated kitchen and family room plus a lot of other added details in the rest of the house. There are wrought iron balusters, square shadow box trim in the family room, updates to powder room, laundry room and garage. Vaulted ceilings in master bedroom, ensuite master bath with dual vanity, shower stall and deep soaking tub. Ideally situated across from community pool with views of the Bay.

For a private showing call Janice Hall at 201 232 8577.

Currently Boatworks townhouses 1800 – 2000 sq. ft. are appraising in the range $320,000 – $410,000.  There are many reasons for this gap in values.  Whether you are listing your house for sale, refinancing or looking to buy a home in Boatworks Bayonne, choosing the right comparables is important in determining value.  Understanding property values and the appraisal process are key to determining your true market value.

At the very least appraisers must use 3 sales closed within the past 12 months as comparables.  Appraisers can make exceptions and use older sales if more recent comps are limited.

Fannie Mae does not insist on using comps in a one mile radius.  It is sometimes possible to find comps in Boatworks, or several blocks away at another location in Bayonne.  Other times it means traveling to places such as Society Hill, RT 440 Jersey City to find a townhouse that has similar attributes.

When appraisers or real estate agents use the wrong sales for comparison it is easy to have an “incorrect” value or price.

Fortunately for sellers and buyers, a low appraisal is not the end of a refinance or home sale.  The best way to improve your appraisal value is to challenge it.  Contact the lender and request a value appeal.   Ask your agent to meet with the appraiser and provide updated and more accurate comps.  Point out upgrades and improvements that add value.  Every neighborhood and community has its own unique attributes, Boatworks is no exception.   The appraiser should be familiar with these attributes and not rely on “cold” data.  If the appraiser is not familiar with the area then he or she might not be the person to give an accurate assessment on value.

If you are selling, don’t wait until the loan is declined to fight the process.   Show up for the appraisal, or make sure your agent does, with comps and a list of upgrades to the property.   At appraisals for the properties I list, I walk with all listings sold in the community in the last year, and a note attached to each pointing out differences in those and the subject property.  I develop rapport with the appraiser without being intrusive or crossing the line.   I don’t leave the appraisal to chance.

After a low appraisal the lender will most likely decline the loan.  While it is tough to convince lenders to change their minds, it is not unheard of.  If you must, try another lender and get a second opinion.  Most likely the second appraisal will stay within 5 to 10% of the first. That difference just might be what you need to get the loan approved.

If you need help in determining value for your Boatworks townhouse call Janice Hall at 201 232 8577.

Property values have been on the rise in Bayonne New Jersey for a while now, yet in Boatworks Bayonne they appear to remain stagnant and a source of concern for every homeowner.   Understandably so since the original homeowners paid an average of 25% more than the current values.

A look at the range of closed sale prices for townhouses in Boatworks in 2016, $255,000 – $375,000, indicates the problem is much less one of current market value than it is of understanding the appraisal process and ensuring a credible appraisal during the sale.

For starters most buyers and appraisers are of the impression that they are all “cookie cutter” houses since they look the same on the outside when in fact there are 6 different floor plans and room sizes.    Location and views differ too, some houses face the street while others face away or inward from the street.  Many homeowners have spent a lot of money upgrading and updating their homes.  These physical and functional attributes are important to an appraiser in determining an opinion of value.   Boatworks Bayonne homeowners therefore need to ensure comparable properties are used, and adjustments made for differences, in determining the correct value of their townhouses.

If you are interested in finding out more about property values in Boatworks Bayonne call Janice Hall at 201 232 8577.

Townhouses in Boatworks Bayonne are leading the local market for highest prices paid by buyers moving into the town.

For 2016, of the 68 condos sold the 7 highest prices paid are all in the Boatworks development, a 32 acre closed waterfront community in the the Bergen Point section of Bayonne.

9 townhouses in Boatworks changed hands in 2016.  The remaining 2 townhouses placed  52nd (a foreclosure) and 60th of all condos sold in the town.

Boatworks amenities include an outdoor pool, guest parking, a boardwalk and a marina with boat slips.

If you are interested in finding out more about Boatworks Bayonne NJ call me Janice Hall at 201 232 8577.

Make this your home for the holidays @ $394,500.   Bryant design 1800 sq. ft.  single family built in 2005 and beautifully updated since, in Bayonne’s most private community Boatworks.

A lot of thought has been put in to all 3 levels of living space.  Large master bedroom and bath with deep soaking tub and dual vanity.  Floors of hardwood, porcelain, and ceramic.  Neutral tones on walls with complementary tiles in bathrooms, and kitchen.  New appliances, H/W heater and compressor.

Want a private showing? Call me Janice Hall at 201 232 8577.

There is light at the end of the tunnel for Bayonne homeowners including residents of Boatworks Bayonne whose single family attached houses have struggled to return to pre “real estate market slump” 2007/2008.   With limited inventory and high demand sellers are achieving higher prices for their homes.

During the 12 month period November 2105 thru October 2016 the number of units recorded as sold increased by 9% over the period November 2014 thru October 2015.

The average sold price increased by 5%  during 2015 – 2016 @$268,810.

The average sold to list price ratio is now 95.30% compared to 2014/2015 when it was 94.22%.

Although these increases may seem small compared to other areas, Bayonne homeowners can look forward to an improved market in 2017.

If you’d like to find out the value of your Bayonne home call Janice Hall at 201 232 8577.