Hoboken Condos and The NFL Draft
Glued to the tv for the past three days watching the NFL draft, it struck me. Buyers of Hoboken condos and the teams drafting are exactly the same.
There’s a prospect that is projected to be a first rounder that falls to the third round. No one knows why. This is just like a well priced condo that takes 3 months instead of three weeks to sell.
Example 2: There is a run on a position. It’s supply and demand. A team may really need a linebacker but four quarterback are taken in the first twelve picks. Now the team needs a quarterback too and worries that there won’t be any left. So they take a quarterback instead of a linebacker. This is just like the new Hoboken condos at 1450 Washington. There are only five three bedroom condos in the 156 unit building. They were gone in the first day of sales.
Example 3: The head scratcher…. A team moves up and mortgages the world for a player they could of had later. Just like the Hoboken condos buyer that buys for over market with no other offers.
Whether it’s Hoboken condos or NFL draft picks (or in the case of Eli Manning, both a Hoboken Condo buyer and NFL draft pick)….The buyer sets the market. For better or worse.
Did I mention the Q1 2011 Hoboken Real Estate Report is now available? …It’s available!
Has anyone been watching my real estate segments on hoboken411? Please let me know what you think.