Monthly Archives: June 2008

Blog Sabbatical

Need a day off.

Posted in General | 347 Comments

Weekend Comp Killer!

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

Posted in Comp Killer, Housing Bubble, Lowball, New Jersey Real Estate | 154 Comments

Weekend Open Discussion – Part II

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

Posted in General | 134 Comments

Weekend Open Discussion

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

Posted in General | 365 Comments

May Existing Home Sales

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

Posted in General | 509 Comments

New Jersey Home Price Tracker – June 2008

(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

Posted in General | 280 Comments

April S&P Case Shiller Home Price Index

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

Posted in General | 368 Comments

“How many people should own homes, anyway?”

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

Posted in Housing Bubble, National Real Estate | 313 Comments

Lowball – May/June 2008

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

Posted in Lowball | 113 Comments

Weekend Open Discussion – Part II

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

Posted in General | 181 Comments

Weekend Open Discussion

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

Posted in General | 360 Comments

Friends of Dodd get special treatment

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

Posted in Housing Bubble, National Real Estate | 452 Comments

New Jersey Unemployment Rockets to 5.4%

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

Posted in Economics, New Jersey Real Estate | 172 Comments

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

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

Posted in Economics, Housing Bubble, National Real Estate | 107 Comments

Recovery? You’ve got the graph upside down.

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

Posted in Housing Bubble, National Real Estate, New Development | 3 Comments