Monthly Archives: September 2006

Using the “b” word

Posted on September 28, 2006 by grim

From the Long Island Business News: Kellner: Listen to the pop By Dawn Wotapka Hardesty As Long Island’s housing market continues to soften, real estate executives refuse to utter the “b” word: Bubble. But one area economist isn’t afraid to … Continue reading →

Posted in Housing Bubble, National Real Estate | 9 Comments

“Things can change…very quickly”

Posted on September 28, 2006 by grim

From the Wall Street Journal: Pricing Your Home Gets Trickier By RUTH SIMON As the housing market cools, one of the hardest decisions facing home sellers is how to price their properties. Traditionally, brokers have set listing prices by reviewing … Continue reading →

Posted in Housing Bubble, National Real Estate | 5 Comments

Sellers face reality

Posted on September 28, 2006 by grim

From Bankrate: 5 tips: Selling a house in a buyer’s market By Holden Lewis A successful poker night begins before you reach the table, when you resolve not to chase after hands that you have no realistic chance of getting. … Continue reading →

Posted in National Real Estate | 45 Comments

A “good thing” or “opportunity for crooks”?

Posted on September 28, 2006 by grim

From the Wall Street Journal Town’s Residents Say They Were Targets of Big Mortgage Fraud By JAMES R. HAGERTY and MICHAEL HUDSON Federal and state authorities are investigating allegations of an elaborate mortgage fraud involving about 100 people living in or … Continue reading →

Posted in National Real Estate, Risky Lending | 7 Comments

Anderson Forecast predicts prolonged correction

Posted on September 28, 2006 by grim

From Inman News: Real estate forecast calls for soft landing — with turbulence By Glenn Roberts Jr. The housing market will not crash unless the job market weakens significantly, though home prices are expected to stagnate for at least five … Continue reading →

Posted in Housing Bubble, National Real Estate | 15 Comments

Consolidation gains traction

Posted on September 28, 2006 by grim

From the Courier Post: Consolidation effort gains By JONATHAN TAMARI A plan to create a commission that could recommend town mergers has gained momentum as lawmakers seek ways to streamline government and rein in New Jersey’s property taxes. The proposal … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 1 Comment

Dead Deer = High Property Taxes?

Posted on September 27, 2006 by grim

From the Herald/Record: Towns protest change in state’s dead-deer policy By BETH DeFALCO Municipalities up in arms over a new mandate requiring them to collect dead deer from their own roads tried Tuesday to stop the state from passing the … Continue reading →

Posted in General | 12 Comments

Northern New Jersey Weekly Inventory Update

Posted on September 27, 2006 by grim

GSMLS – http://www.gsmls.com (Garden State Multiple Listing Service) Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 9/13 – 18,886 9/27 – 19,108 (1.2% Increase) NJMLS – http://www.njmls.com (New Jersey Multiple Listing Service) Single … Continue reading →

Posted in North Jersey Real Estate | 15 Comments

New home sales rise, median price falls.

Posted on September 27, 2006 by grim

From Marketwatch: New home sales rise 4.1% to 1.05 million pace Sales of new homes increased 4.1% in August to a seasonally adjusted annual rate of 1.05 million from a three-year low in July, the Commerce Department reported Wednesday. It … Continue reading →

Posted in National Real Estate | 54 Comments

The sweet deal is ending

Posted on September 27, 2006 by grim

From the Herald News Adjustable rate shell game can take hefty toll By Heather Haddon Gerard Herard was able to finally purchase a home in 2003 through a $225,070 mortgage from Security Atlantic Mortgage. His payments on the quaint Totowa … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 26 Comments

Growing bubble in commercial real estate

Posted on September 27, 2006 by grim

From The Street: No Shortage of Bubbles and Troubles By Jim Jubak But I think it’s premature to slap the Fed on the back and say “mission accomplished.” The truth is the Federal Reserve still hasn’t pricked the financial bubble … Continue reading →

Posted in Economics, National Real Estate | 3 Comments

“Bad-spirited” MLS policy withdrawn

Posted on September 27, 2006 by grim

From Inman News: New Jersey MLS tosses restrictions for display of listings The New Jersey Multiple Listing Service, a regional MLS in Northern New Jersey that is owned and operated by two local Realtor organizations, has withdrawn a policy that … Continue reading →

Posted in National Real Estate, New Jersey Real Estate | 17 Comments

“When it comes to housing, affordability does not exist in the state”

Posted on September 27, 2006 by grim

From the Courier Post Affordable housing addressed A round-table discussion Tuesday about affordable housing in New Jersey focused primarily on the lack of it. “When it comes to housing, affordability does not exist in the state,” said Diane J. Johnson, New … Continue reading →

Posted in Economics, New Jersey Real Estate | 10 Comments

Jersey City missed

Posted on September 27, 2006 by grim

From the Jersey Journal: NOT WORTH $2.4M NOW In the can’t-miss real estate market of Jersey City, the city of Jersey City, well – missed. Eighteen years ago, the city purchased 325 Palisade Ave., a three-story building that city employees … Continue reading →

Posted in New Jersey Real Estate | Comments Off on Jersey City missed

Price Reduced – Bergen County 9/1 – 9/26

Posted on September 26, 2006 by grim

Welcome to the first edition of Price Reduced! at the new site. For all the newcomers to the site, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is … Continue reading →

Posted in New Jersey Real Estate | 22 Comments