Lets Go President Obama !!!!
From a day to day perspective, the Hoboken real estate market is not as bad as it might seem from all the negative press. Each aspect of the transaction: contract, appraisal, mortgage, insurance, inspections tends to need more attention, every party involved in a purchase wants to be sure that everything is in order. FHA loans and FHA spot approvals are becoming more common and require more attention. But people need to move, and buying real estate, with it tax benefits, still makes sense.
Prices are holding up, but it is clear that buyers will not even consider properties that are not priced to be reflective of the current market. The best strategy for a seller is to price low and wait for the buyers to bid the price up. We are all hoping that the new policies of President Obama will make a big difference and bring some needed confidence to the market.