Monthly Archives: June 2008

Blog Sabbatical

Posted on June 30, 2008 by grim
Posted in General | 347 Comments

Need a day off.

Weekend Comp Killer!

Posted on June 29, 2008 by grim
Posted in Comp Killer, Housing Bubble, Lowball, New Jersey Real Estate | 154 Comments

19 Yale Terrace, Montclair NJ Purchased: 6/1/2005 Purchase Price: $762,000 MLS# 2503228 Sold: 6/26/2008 Sale Price: $705,000 19 Woods End Road, West Orange NJ Purchased: 6/1/2004 Purchase Price: $379,000 MLS# 2493002 Sold: 6/27/2008 Sale Price: $362,500 31 North Road, Chester … Continue reading →

Weekend Open Discussion – Part II

Posted on June 28, 2008 by grim
Posted in General | 134 Comments

Now Open, Part II! Rich was nice enough to provide us with our weekend fill of Bergen County comp killers! Thanks Rich! Harrington Park FUTURE Comp Killer! 182 SCHRAALENBURGH RD Purchased $600,000 9/21/2006 MLS# 2825662 Listed 6/24/2008 Current Asking: $579,000 … Continue reading →

Weekend Open Discussion

Posted on June 27, 2008 by grim
Posted in General | 365 Comments

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

May Existing Home Sales

Posted on June 26, 2008 by grim
Posted in General | 509 Comments

From MarketWatch: Existing-home sales rise 2% in May U.S. home and condo resales inched higher in May as prices continued to fall, the National Association of Realtors reported Thursday. Resales of U.S. houses and condos rose 2% to a seasonally … Continue reading →

New Jersey Home Price Tracker – June 2008

Posted on June 24, 2008 by grim
Posted in General | 280 Comments

(Click to Enlarge) S&P Case Shiller Home Price Index – NY Metro Commutable Low Tier (Under $332,377) October 2006 – 259.75 (peak) April 2007 – 255.94 April 2008 – 233.29 8.85% year over year decline 10.19% decline from peak Mid … Continue reading →

April S&P Case Shiller Home Price Index

Posted on June 24, 2008 by grim
Posted in General | 368 Comments

Data geeks can find the underlying index data at the following S&P link: April 2008 S&P Case Shiller HPI (XLS) From Reuters: Home prices extend record slide in April: S&P NEW YORK (Reuters) – U.S. home prices extended their record … Continue reading →

“How many people should own homes, anyway?”

Posted on June 23, 2008 by grim
Posted in Housing Bubble, National Real Estate | 313 Comments

From the New York Times: Home Not-So-Sweet Home “Owning a home lies at the heart of the American dream.” So declared President Bush in 2002, introducing his “Homeownership Challenge” — a set of policy initiatives that were supposed to sharply … Continue reading →

Lowball – May/June 2008

Posted on June 22, 2008 by grim
Posted in Lowball | 113 Comments

Welcome to another edition of Lowball! Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the … Continue reading →

Weekend Open Discussion – Part II

Posted on June 20, 2008 by grim
Posted in General | 181 Comments

Now Open, Part II! Weekend Comp Killers! Summit Killer Comp Killer MLS# 2100704 – 20 Caldwell Ave Listed: 8/15/2008 OLP: $649,900 Last List Price: $599,000 DOM: 184 Expired Foreclosed, REO Sold: 6/19/2008 Sale Price: $390,000 Basking Ridge Comp Killer 51 … Continue reading →

Weekend Open Discussion

Posted on June 20, 2008 by grim
Posted in General | 360 Comments

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

Friends of Dodd get special treatment

Posted on June 19, 2008 by grim
Posted in Housing Bubble, National Real Estate | 452 Comments

From the Wall Street Journal: Angelo’s Angel June 19, 2008; Page A14 Give Senator Christopher Dodd credit for nerve. On Tuesday, the very day he finally admitted knowing that Countrywide Financial regarded him as a “special” customer, the Connecticut Democrat … Continue reading →

New Jersey Unemployment Rockets to 5.4%

Posted on June 18, 2008 by grim
Posted in Economics, New Jersey Real Estate | 172 Comments

From the New Jersey Department of Labor and Workforce Development: Employment in New Jersey Held Steady in May; Unemployment Rate at 5.4 Percent Trenton, June 18, 2008 – For the third consecutive month, employment in New Jersey as virtually unchanged … Continue reading →

“If you had a Macy’s card and a gas card, you could buy an $800,000 home.”

Posted on June 18, 2008 by grim
Posted in Economics, Housing Bubble, National Real Estate | 107 Comments

From MSNBC: Brace for other shoe to drop in mortgage mess, some warn With most of the country still reeling from the subprime mortgage meltdown, Mark Hanson is warning of the next looming blow. Hanson, a bank consultant and former … Continue reading →

Recovery? You’ve got the graph upside down.

Posted on June 18, 2008 by grim
Posted in Housing Bubble, National Real Estate, New Development | 3 Comments

From Bloomberg: Why Real Estate Market Is Nowhere Near a Bottom: Caroline Baum Every time a housing statistic emits a faint heartbeat — last week’s 6.3 percent increase in the April pending home sales index, for example — there’s a … Continue reading →