Monthly Archives: August 2006

From the Herald News: Rug pulled out from under them They left her with a flier for Property Solutions of New Jersey. At the bottom, they wrote, “We can help you keep your home.” A year later, Alford faces homelessness. … Continue reading →

Welcome to another edition of Price Reduced! For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that … Continue reading →

From the Chester Daily Local: Home auctions on the rise And now for yet another sign of the rapidly cooling housing market: Prudential Fox & Roach is teaming up with Sheldon Good & Co. to offer auctions as a way … Continue reading →

From Stephen Roach at Morgan Stanley: Another Post-Bubble Shakeout Five and a half years ago the equity bubble popped. Within six months, the US economy went into mild recession, and the global economy was quick to follow. Today, America’s housing … Continue reading →

From the Record: Squeezing the suburbs North Jersey is on the cusp of a condominium and town-house building boom that some feel will slowly change the suburban character of the area into an even denser collection of bedroom communities. … … Continue reading →

From the New York Times: Read Between All Those For-Sale Signs REAL bubbles pop. They are fully formed one moment and gone the next. Financial bubbles rarely meet with such a definitive end, which has always been the biggest problem … Continue reading →

Observations about your local areas, comments on news stories or the New Jersey housing bubble, Open House reports, etc. If you have any questions you wanted to ask earlier in the week but never posted them up, let’s have them. … Continue reading →

Thought this would make an interesting topic for discussion: I don’t understand why no one has written an in-depth article about the “real truth” on incentives and how much more they cost the buyer. Incentives only help the industry, but … Continue reading →

From the LA Times: When the Bubble Bursts It’s too early to say whether the slowdown will turn into a crash presaging a recession, as happened in the late 1970s and ’80s, although the economy’s other fundamentals remain healthier now … Continue reading →

Welcome to another edition of Price Reduced! For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that … Continue reading →

From the New York Times: Offering Prizes to New-Home Buyers BUYERS are said to have the upper hand these days in the market for residential real estate, and this is reflected in the elaborate presents and price breaks that consumers … Continue reading →

From the New York Times: When the Truth Goes Begging FOR those who have a hard time documenting enough of their earning history to qualify for conventional loans, a popular option has become the so-called “stated income” mortgage. Such mortgages … Continue reading →

From the Record: Builders deal with decline Builder Charles Panahi is constructing only five luxury homes right now. Last year at this time, he was building 11. “I’m slowing down because I’m watching the market,” said Panahi, who owns Diamond … Continue reading →

From the Record: Smaller homes hit harder by revaluation It seems like reverse logic. On busy Pascack Road, the owner of a modest home assessed at $192,100 and situated on 0.43 acre received a 52 percent tax increase this year. … Continue reading →

From the New York Times: Home for Sale, by Anxious Owner Home sales are falling rapidly, and the number of houses on the market is surging. Yet each new economic report offering evidence of a housing slowdown also shows that … Continue reading →