Mon 2 Jun 2008
From First American CoreLogic:
Forty Two States Show Decline in Past Three Months
“Two thirds of all states now show year-over-year real estate declines according to this latest LoanPerformance HPI release,” said Mark Fleming, chief economist for First American CoreLogic. “Although only one-third of CBSAs are depreciating on a nominal basis, on an inflation adjusted basis 90 percent of CBSAs are experiencing real price declines. Only 10 percent of CBSAs are experiencing real inflation-adjusted price increases,” added Fleming.
12-Month Change By Top CBSAs (Core Based Statistical Areas) as of March 2008
Edison, NJ: -4.98%
New York-White Plains-Wayne, NY-NJ: -3.58%
Frist!
From Bloomberg:
Bradford & Bingley Must Buy 2.1 Billion Pounds of GMAC Loans
Bradford & Bingley Plc, the U.K. lender struggling to raise cash in a rights offering, must buy about 2.1 billion pounds ($4.1 billion) of mortgages by the end of next year from GMAC LLC.
Customer payments are more than three months late on 5 percent of loans purchased from Detroit-based GMAC, the car and home lender trying to avert bankruptcy for its residential mortgage unit. That’s more than double the average rate for mortgages held by the Bingley, England-based bank, it said yesterday in a statement.
“This is what has spooked everybody,” said Alan Beaney, who manages $2.1 billion of stock as head of investments at Principal Investment Management in Sevenoaks, England. “They are committed to keep buying these things.”
Rising loan defaults were “by far the biggest factor” in Bradford & Bingley’s decision to sell a 23 percent stake to U.S. leveraged buyout firm TPG Inc., Chairman Rod Kent told analysts on a conference call. The bank fell 24 percent in London trading yesterday, the most since the initial public offering in 2000, after it slashed the price of the rights offering by a third and said the U.K. housing market is deteriorating.
The bank first agreed in 2002 to buy loans from GMAC. Steven Crawshaw, who stepped down June 1 as Bradford & Bingley’s chief executive officer, renewed the deal in December 2006 and committed to buy as much as 4 billion pounds of loans a year through 2009.
From CNBC:
Foreclosures Weighing Heavier Than Ever On Prices
I know we talk all the time about how foreclosed properties drag overall home prices down.
They are blights on neighborhoods, they often are sold off in “short-sales,” where lenders sell the home for less than the mortgage, and they are often left in a horrid state of disrepair, thereby lowering prices even further.
Well here’s a stat I hadn’t quite visualized: First American Core Logic, which runs real estate numbers out in California, reports that the number of bank-owned (REO) properties nationwide rose to 660,000 in April.
That’s up from 493,000 in January and just 231,000 in January of 2007. That’s all despite so many programs that have been working at high speed since January to save troubled borrowers.
…
I don’t care what anyone says about location, the economy, supply, demand, jobs, etc. Until the tidal wave of foreclosures shrinks back down to at least surfing size, the bottom in home prices is still going to be far off at sea.
Grim back on top!
Stop voting, the contest is over!
Is anybody else wondering how Clot would know it was me if I walked into his office?
NJP, you’re going to give the no-superfluous-entries guy high blood pressure.
I have a question for the RE professionals on co-ops. In my friend’s building a new tenant is doing work on their unit. The building busy body was snooping around and took it upon themself to call in the Montclair Inspector. The inspector ordered the worked stop for what ever reason but said the whole building’s electrical and plumbing are not up to code. My friend bought their unit exactly 2 years ago in June ‘06. My question is; does the entire 16 unit co-op need to be up to code at any given time or just individual units as they are bought and sold?
#6 Pat
I was wondering the same thing????
“NJP, you’re going to give the no-superfluous-entries guy high blood pressure.”
I’m lucky enough to have my job to do that for me.
“Is anybody else wondering how Clot would know it was me if I walked into his office?”
That’s easy. Who else drives a Honda Civic?
grim (post 3)
Scary part of all these increasing foreclosures is we haven’t hit the peak of the resets yet, rates are fairly low and employment numbers have not tanked, though are moderately off. The peak of the resets will come with time. Rates and employment are hanging precariously in the balance now and could add another dimension to this housing crisis. I’m guessing employment issues will be the biggest problem and has a fairly high probability of occurring given the news about the economy.
That is the main reason I’m bunkering in a rental. I see better deals on the horizon.
the thing is, all of those foreclosures are not evenly dispersed throughout the country. they are in clusters and entire neighborhoods in some towns are going into foreclosure. those neighborhoods are radioactive now. no one in their right mind would buy a house to live in the middle of what is essentially an emerging ghetto
That’s it.
I’ve had enough of the office.
I’m going home to work.
#13
slacker
What’s with the late night detours in NJ? Have to regularly detour around the helix on 495 and initially head west on 3 rather than south on 95. I’ve never understood what the purpose of those detours is, but one or the other or both are randomly in place at 1am most, but not all, of the time.
there’s another day i’ll never get back.
From the WSJ:
After Mortgages,
Construction Crisis
May Be Building
By LINGLING WEI
June 3, 2008; Page C1
While Wachovia Corp.’s residential-mortgage woes have gotten most of the blame for the ouster of Chief Executive G. Kennedy Thompson, another real-estate specter looms.
Wachovia has been the country’s second-largest maker of construction loans after Bank of America Corp., with $23.9 billion of debt outstanding to developers of single-family homes, condominiums, office buildings, stores and other commercial projects at the end of the first quarter, according to Foresight Analytics, a research company based in Oakland, Calif.
At the end of the first quarter, its delinquencies — which stood at 7.7% — were already above the industry average of 7.2%, Foresight said.
Now those bad loans are expected to mount. About $12 billion of Wachovia’s construction loans are linked to residential projects, such as single-family-home and condo developments, Foresight said. Some funded the acquisition of land that has greatly declined in value.
“A large part of the risk in Wachovia’s portfolio stems from its higher proportion of single-family-construction lending,” said Matthew Anderson, a partner at Foresight Analytics.
A Wachovia spokeswoman said: “We experience the same market challenges as the rest of the industry, but continue to aggressively and thoughtfully manage our exposure.” Construction loans make up about 6% of Wachovia’s overall loan portfolio.
Analysts expect a sharp increase in bad construction loans partly because many of them were made with “interest reserves,” pools of money developers set aside to pay interest while projects get built. Once they burn through those reserves, developers of troubled projects can’t pay debt service, forcing banks to classify the loans as nonperforming.
Because of their size, banks could face substantial losses if many go bad at once.
From Reuters:
Lehman may raise $3-4 billion fresh capital
Lehman Brothers Holdings Inc may raise billions of dollars of fresh capital, suggesting the investment bank will post its first quarterly loss since going public, the Wall Street Journal said on Tuesday, citing sources familiar with the matter.
Analysts and Wall Street executives estimate it might total $3 billion to $4 billion, the newspaper said.
Lehman may issue common stock, diluting current shareholdings, and will probably reveal its capital plans when it reports quarterly results the week of June 16, the WSJ said.
…
“The developments are a reminder to markets that the effects of the credit crisis continue to reverberate around markets,” said Zurich-based UBS currency strategist Geoffrey Yu in a note to clients.
According to recent analysts research notes, Lehman has been hurt by hedges used to offset losses in various securities.
From Newsday:
LI homeowners find home equity lines cut by lenders
Homeowners have been getting their home equity lines of credit frozen or pared down by lenders trying to cut risks.
It happened to Bay Shore dentist Michael Sherman, who can’t touch his $100,000 line for bath renovations because he’s got little equity in his home, and to Lido Beach homeowner Suzanne Dzolan, whose $200,000 limit was halved soon after she paid back what she borrowed to redo the house.
“It’s almost hurt me to be someone who was a good borrower,” said Dzolan, who works for a mortgage broker. “… They just felt they could take the luxury and cut it.”
Sherman expected his lender’s move because the value of his home, along with others, has dropped: “It’s hard to admit that it’s not worth $530,000 today.”
From Bloomberg:
Rating Cuts, Executive Ousters May Signal Longer Mortgage Slump
Ratings cuts at three of the biggest U.S. securities firms coupled with management shakeups at Wachovia Corp. and Washington Mutual Inc. yesterday triggered concern that the mortgage slump has yet to reach a bottom.
The KBW Bank Index dropped to a five-year low after Standard & Poor’s said Morgan Stanley, Merrill Lynch & Co. and Lehman Brothers Holdings Inc. may have to book more writedowns. Wachovia ousted Chief Executive Officer Kennedy Thompson a month after stripping him of his role as chairman.
While Wall Street’s top executives have insisted the housing crisis is waning, mounting evidence suggests otherwise, said Robert Eisenbeis, head of research at the Federal Reserve Bank of Atlanta from 1996 to 2006. He expects losses to be higher than banks’ forecasts as the worst real-estate decline since the Great Depression continues and foreclosures rise.
“There may be another shoe to fall,” said Eisenbeis, 67, who is now chief monetary economist at Cumberland Advisors Inc. in Vineland, New Jersey. “The real puzzle to me is why these firms didn’t jump on the opportunity to really come to grips with the financial situation they were facing.”
From Newsday:
Foreclosures surprise Hamptons real estate market
Paul Brennan never handled a short sale - and barely ever used the phrase - until about six months ago.
But since then, Prudential Douglas Elliman, where Brennan is The Hamptons regional manager, has handled about 10 short sales across the South Fork, he said. In a “short sale,” homeowners who want to avoid foreclosure agree with their banks to sell their homes for less than the mortgage amount.
“It is a new phrase for me,” said Brennan, who has worked in real estate in The Hamptons for nearly 30 years.
Mortgage defaults, foreclosures and The Hamptons were words that until recently were never mentioned in the same breath. Defaults and foreclosures took place elsewhere. But over the past year across the East End there’s been a noticeable increase in “lis pendens” - the first legal foreclosure notice - and even foreclosure auctions, which take place in courtrooms or on town hall steps. Among the houses in the initial stage of foreclosure is one now on the market for $19 million in very upscale Bridgehampton.
From Bloomberg:
Lehman May Need to Raise Capital as Analysts See Loss
Lehman Brothers Holdings Inc. may report its first quarterly loss since going public in 1994, increasing pressure on the company to raise capital by selling stock.
The fourth-biggest U.S. securities firm probably will post a second-quarter loss of 50 cents to 75 cents a share, according to analysts at Oppenheimer & Co. and Bank of America Corp. New York- based Lehman holds “very large, illiquid” assets and “we can’t rule out equity issuance” to replenish the balance sheet, analysts at Merrill Lynch & Co. said in a report yesterday.
From MarketWatch:
Toll Brothers swings to loss on 30% lower revenue
Toll Brothers Inc., the Horsham, Pa., luxury-home builder, swung to a fiscal second-quarter loss from a year-earlier profit on 30% lower revenue, and its chief executive reiterated a call on Congress to enact tax incentives to encourage people to buy homes. For the quarter ended April 30, the net loss was $93.7 million, or 59 cents a share, compared with net income of $36.7 million, or 22 cents, in the year-earlier period. Excluding write-downs, Toll earned 49 cents a share in the latest period and 66 cents a year earlier. Revenue fell to $818.8 million from $1.17 billion. The backlog at second-quarter’s end was $2.08 billion, down 50% from the year-earlier $4.15 billion and 13% from $2.4 billion at the end of the fiscal first quarter. Net contracts — after cancellations — totaled 929 homes, down 44% from 1,647. The value of those net contracts was $496.5 million, down 58% from $1.17 billion. Contract cancellations in the second quarter totaled 308 versus 384 a year earlier. The average price on the canceled contracts was $760,000. “Demand continues to be weak in most markets as our clients worry about selling their existing homes or entering the market before prices stabilize,” Robert I. Toll, chairman and chief executive officer, said in a statement.
7 I know in my building they are very adamant about people NOT doing work ( even though it happens/will happen ) because of people cutting corners and making the building unsafe.
I lucked out in that we don’t really have one of those “busy body” neighbors, but I have former GF where my entry / exit of the building was brought up to her with insinuations of her being a “woman of loose morals”
I have seen some reports that show the number of homes under contract and sold in a town and it may be something like 70 sold and 110 under contract. Does that mean alot of deals fall through? And or does it mean that 110 deals went to attorney review that then may not have closed for some reason.
Out of curiosity for people that have had deals fall through why would that be? I would like to hear some experiences.
Lastly are there any really good clauses in a contract other then standard home inspection clauses that one would want to make sure are included in a contract?
Hey Clot:
The Yellow Submarine place in Clinton is back on the market. Did you have issues with the lender on the short sale or did the buyers financing fall through?
I have seen some reports that show the number of homes under contract and sold in a town and it may be something like 70 sold and 110 under contract. Does that mean alot of deals fall through? And or does it mean that 110 deals went to attorney review that then may not have closed for some reason.
In any given month, contracts tend to lead the market by ~60 days (although this does vary). Even when you shift sales back by ~60, you don’t get a tremendously strong correlation, but that is most likely due to the variation in timing of the closing and buyer/seller contingencies.
During the early spring market you tend to see high contracts and low sales, that shifts towards Jul/Aug/Sept where closings start to outnumber contracts.
Please find the SOLD price of 27 Valley St.
Belleville, NJ 07109. Thx in advance.
MT: I know it sold in 2001 for $237,000
From the Record:
Economy puts sqeeze on pet owners
Lose your job. Lose your home. Lose your best four-legged friend.
Pets have become the latest casualties of the economy as their owners struggle with foreclosures, tight job markets and the soaring costs of life’s staples.
In a random sampling of more than a dozen North Jersey shelters and umbrella rescue groups, at least three quarters report more animals abandoned to their services. And the situation is stretching them to the breaking point.
“In the past week we had two dogs relinquished back to us after four years because the owners lost their home,” Christine Taylor, executive director of the Ramapo Bergen Animal Refuge Inc., in Oakland said recently. “We’ve been getting phone calls about people losing their homes and moving in with family where they can’t take their pets.”
The scope of the problem is difficult to quantify — many animals are abandoned to the streets or people are too embarrassed to give their reasons for surrendering their beloved companion.
…
John DeCando, Paterson’s chief animal control officer, cites records on the number of dogs admitted to the city shelter.
Last September, 56 dogs were picked up or brought in; in October there were 53; November, 48; December, 39.
That number jumped to 78 in January, 79 in February, 81 in March and 78 in April. Even more striking than the month-by-month rise: This year’s January-April total of 316 pets compares with 228 in the same period last year — almost a 28 percent increase.
Does it seem to be that more of the houses on the market have buried oil tanks than the general house population? I find as I scour through the listings that there are more oil-heated homes than gas-heated on the market.
From the AP:
The drug smuggler wore Prada
MANALAPAN — A couple ran a cocaine smuggling ring from their fortress-like multimillion-dollar home and amassed so many luxury goods that the wife needed photos to keep track of her 100 pairs of Prada shoes, authorities said Monday.
Vicente Esteves, 35, and his wife, Chantal, 30, were arrested on conspiracy and money laundering charges after a 14-month investigation, federal and county officials said.
The $1 million-a-week operation used commercial airline flights to move drugs from Mexico and Colombia into the United States and to send millions of dollars back, investigators said.
Authorities also described the opulent lifestyle the couple led behind the gates of their home in New Jersey horse country.
The couple “attempted to hide behind the beauty of suburbia,” said Gerard McAleer, special agent in charge of the DEA’s New Jersey office.
#29 theBig
Thank you and Sorry. The address was wrong. It is 29 Valley St. The house is a neibogher of my mom and has been on market for a long time. And recently the sign was disappeared. I wonder it was withdrawn or sold.
MT,
Went under contract on 4/29 with a list price of $219,999. Estimating closing date was 5/30, if it was sold the MLS hasn’t been updated yet.
Deck chairs..
ResCap Says It Plans Asset Sales to Bridge $1.4 Billion Gap
Residential Capital LLC, the distressed mortgage-finance company, said parent GMAC LLC and private-equity firm Cerberus Capital Management LP agreed to buy some assets to help it fill a $1.4 billion funding gap.
GMAC agreed to buy the ResCap’s resort-finance business and Cerberus agreed to buy some assets for about $475 million, according to a regulatory filing today.
#34 Grim
Thanks a lot.
Gas prices may be high, but I don’t see any reduction in commuter traffic as yet.
njpatient: You can’t expect people to just not go to work..
When you see significant reduction in traffic- that would mean significant reduction in employment.
It will happen, just not very soon - as opposite at the beginning you will see MORE traffic as people take jobs further and further away from home - since they are home-owners and can not move closer to work.
I am starting to question the whole IDEA of home-ownership for general population, as current job marklet and employment trends point to more and more volatility of jobs.
Re:#25…homebuyer
Are you looking for a good home inspection guy????..i know one..not my husband or brother or neighbor…no full disclosure needed..but if I needed one this is the one and only guy I would go to..
The more I think about it the more I am convinced that the whole American Dream lifestyle (not lavish, just a nice house in surburbia, with a yard and two cars/family) is built on cheap gasoline, and looks like thouse days are over.
Not only built on cheap gasoline, but cheap natural gas, electricity, water, and sewerage as well.
(Tool Brother’s) “chief executive reiterated a call on Congress to enact tax incentives to encourage people to buy homes.”
How about lowering your prices on your over priced so called luxury homes.
NJP,
Up and commuting already?! Damn.
Homebuyer,
Out of curiosity for people that have had deals fall through why would that be? I would like to hear some experiences.
I’ve backed out of a deal that was under contract due to issues found during inspection. I used an engineer… it seemed to take all day. Once we got to the point where we knew we wanted nothing to do with the house I told the inspector and asked him to “speed it up”. But you know how engineers can be…
In their disclosure they said they never had the place treated for termites as they never had any. They lied. Termite guy showed it was treated and that the damage in the sill plate looked pretty extensive. Who knows how far up the wall it went. There were a lot of other issues that when added up was more than we wanted to deal with.
(Tool Brother’s)
Fitting
OK Cheap Energy.
But - the real problem is that we are not staying in one place, and moving very often.
If I buy a house and I know that I am staying in the house for 30+ years - I would install geothermal closed loop verticall well heat pump, and some source of electric energy - probably combination of small wing turbine and solar cell.
Costs - will be in the order of 70-80K for all three right now. With govberment rebate - may be down to 50-60K.
There is not way I am going to recoup these costs if I stay in the house for less than 30 years.
So USA way of job-hopping actually kills any possibility of becoming moer “green”.
I am not Jay Leno. He can afford it. I can not.
I’d say - goverment should have a programm where they are paying for installation of “green energy sources” in all houses/complexes. return on investment in SFH is slow. But if you install huge suized system in a large apartment complex/condo - return on the investment is very high.
AGAIN - THE PROBLEM IS US’S NEW MENTALITY: NOBODY, I REPEAT, NOBODY PLAYNS FOR LONG TIME ANYMORE. IF YOU CAN NOT GET IT BACK IN 3-5 YEARS - NO GO.
unfortunately it is true on both personal level and corporate level, And recently it has become true on whole coutry level - polititians only care about being elected, and someone “after them” will clea-up all the mess.
#37,
My bus is missing few Bear employees already.
Al,
Regarding back-yard wind farms.
Just try to go for the permit, you’ll meet neighbors you never knew you had.
NIMBY
I ma just waiting for natural gas and oil to quadruple, in the next 5-6 years. Wind-farms and solar cells might become new pools and granite.
#7—
I’m not a real estate expert, but I do know a lot about co-ops. IMHO, the whole building would have to be up to code, since individual co-op units (as opposed to invidual condo units) are not considered separate parcels of real estate. What co-op owners own are shares in the whole building, so it would be impossible for a building inspector to write a violation for one single unit. As everyone will will have to pay to have the electric upgraded, this may stop the building busy-body from being aggressive in the future.
There is another question, though. The new tenant should’ve received Board permission before starting any work. If that didn’t happen, the co-op might have some recourse (either fines or a lawsuit). Tell your friend to read the Proprietary Lease. Everything should be spelled out there.
from WNBC.com
Explosive Materials Found In Oakland Home
http://www.wnbc.com/investigations/16467860/detail.html#
– Federal agents and local police searched an Oakland N.J. home for explosives late Monday night after investigators learned a young man might have been building small homemade devices.
It would be great if I mounted solar panels mounted on my garage to power my pool pump. I wonder if that would work?
But again _ think geothernmal heat puimps for all condos, apartments, big office buildings should be a must. In a climate like NJ it will be pretty usefull. In CA - might be not, but here solar will be huge.
The funny part - we have the technology and capacity, to decrease our carbon footprint by 50% in 10 years. But untill real pain will hit, people will not bother.
I have seen research which suggested that 25% reduction in energy consumption by the END USER, will decrease carbon footprint by at least 50%!!!
25% is very real, and fairly easy to do by just installing geothermal and small solar cell.
thatBIGwindow Says:
June 3rd, 2008 at 8:59 am
It would be great if I mounted solar panels mounted on my garage to power my pool pump. I wonder if that would work?
Why not?
But - the real problem is that we are not staying in one place, and moving very often.
I think the problem is less that people move and more that not enough people place a value on these types of investments. Hell, it’s tough getting people to buy compact fluorescent bulbs despite the fact that your return on investment is beats most other opportunities. If they did understand, it would be easier to recover the investment when you sold.
Somewhat off topic: GM closing 4 truck plants .
FTFA, per Rick Wagoneer The Hummer brand might be discontinued. That certainly didn’t take too long.
Laurie,
Send me the name of the home inspector. Not that I need one yet but you can never start too early in lining up who you may consider down the line.
It would be great if I mounted solar panels mounted on my garage to power my pool pump. I wonder if that would work?
You would need one heck of a roof to power a 1.5hp pool pump. You’d want to convert the AC pump into DC to eliminate the losses from inversion. Maybe on the order of 10 200w panels, so figure about $15-20k for the panels and installation, a couple hundred for the pump, and a few hundred more for the DC regulation/backup system. $25k total maybe, on the cheap? Just a guess though.
http://news.yahoo.com/s/ap/20080603/ap_on_bi_ge/gm_shareholders
GM is closing 4 truck and suv plants, may stop making hummers. No more hummers? What a bummer.
Rich,
Did you like the inspector / engineer you used? If so could you email the persons name? Just want to start a file on these things. Grim if you have anything as well please let me know.
think the problem is less that people move and more that not enough people place a value on these types of investments.
True. But economics also do not support it:
Small geothermal system for SFH in residential area will cost at least ~30K. (this was an actuall estimate from NJ companyfor a friend couple of years ago) You almost always have to go with vertical closed system well, due to lack of space.
30K investment at 6% - cost you about 150/month. Question - will geothermal save significantly more than 150$/month?? On bigger house - might be. On smaller house - I am not sure.
But IF heating/electricity costs increase 4 times it will be economical.
32 Grim - Still giggling at this line from the article:
“The investigation began last year when the DEA got a tip that a large-scale drug ring was operating out of Manalapan, an enclave of wealthy homeowners.”
Manalapan is no Alpine or Short Hills. It’s just a boring, solidly middle class, Western Monmouth County, Route 9 strip mall suburb.
Re: energy
Read this interesting article in the Economist about the catch-22 of conservation and cheap energy:
http://www.economist.com/displaystory.cfm?story_id=11326549
grim, I kind of figured it wouldnt be easy…Thank goodness the Hummer brand might be on the way out. The H1 was for the real “ballers”, then came the H2 to appeal to those who weren’t wealthy, but wanted to appear that way, and finally the H3, based on the Chevy Colorado pickup to appeal to an even lower class of people.
For all these reasons, homeowners, as Lord Stern pointed out in his climate-change report, tend to demand exorbitant rates of return on investments in energy efficiency—of around 30%.
From link post 63. - Why do you think 2-3 years??Because nobody is staying or planning to stay at their house longer!!!
Bring in job stability - and it might change.
Ok, so when I die, do I get buried or do I get burned?
Is burial the equivalent of subterranian carbon sequestration? Would I reduce my net carbon footprint through burial?
What about cremation? While I wouldn’t take up space, the process would release all my carbon into the atmosphere.
Can I opt to be rendered and turned into biodiesel?
What would a gallon of Grimoil go for anyway?
To thatBIGwindow why are you considering solar for very specific purpouse - why not install smaller solar on the house’s roof, and overtime it will average out your pool pump costs.
TO grim - post 66. Do not start me on it.
Most of you is water!
We need more “seriously unfit” people. You will be energy negative.
Ok I am off.
I can imagine the scene now..
2018, Guy standing at a biodiesel pump aside his 2017 9.6l V14 turbo-diesel Ford Gargantuo screaming out in revelation, “SUNOCO BLUE IS PEOPLE!”
Ok, so when I die, do I get buried or do I get burned?
No difference.
People are considered a biogenic source of carbon; part of the natual carbon cycle. As you grow, you absorb carbon from the environment and you release it once you die. However, on a net-net basis, your carcas does does not contribute to a net increase in atmospheric concentrations of CO2.
What would a gallon of Grimoil go for anyway?
Grim… you are pretty slim. I would consider you 87 octane at best. Now convert me into biofuel and I might be Amoco Ultimate.
Sign you have hired a lazy realtor:
http://new.gsmls.com/media/getImage.do?mlnum=2521406&res=highres&num=0
Was there really no other angle to more attractively present this home? How much of a credit do you think the seller will give back for the driveway.
To thatBIGwindow why are you considering solar for very specific purpouse - why not install smaller solar on the house’s roof, and overtime it will average out your pool pump costs.
The benefit would be no need for an inverter and no efficiency loss in the DC to AC conversion.
The downside is that you now have unused capacity during the winter months.
Looks like an oil tank was there…
62
I used to run the Lowe’s in Manalapan. The people like to think it is Alpine or Short Hills.
Twice the attitude, half the money.
Someone said this site needed more meat and less fat. So please, exuse the pun.
Just looked at the back of my license, there isn’t a checkbox for “Adipose donor”.
From Chemical and Engineering News:
Science Friction with Bob Wolke
I was kidding when I suggested in my Dec. 10 column that human adipose tissue might be converted into biodiesel fuel. But as it turns out, that has already been done.
Shane Graber of Archbold, Ohio, tipped me off to a story about Pete Bethune, a former oil exploration engineer in New Zealand who plans to circumnavigate the globe in 65 days in a specially built, $3 million trimaran fueled entirely by biodiesel.
…
I quote from earthrace.net, the official website of the expedition: “In an extraordinary show of dedication to the project, the skipper, Pete Bethune, underwent liposuction, and the fat (all 100 mL) was used to make a small amount of biodiesel for [the voyage]!”
#66 Grim,
Go for burial at sea. Ultimate in recycling if you are a seafood lover.
GM and their board of directors signaled the death of the SUV today.
18 of the next 19 new GM products for the U.S. will be cars or crossovers (station wagons), and they greenligheted the Chevy volt for production, as well as approved a new 1.4 lietor turbocharged engine as their new platform.
Chevy Silverado and GMC Sierra, will likely cease production in 2009,Chevy TrailBlazer, GMC Envoy and Saab 9-7x, will end production at the end of the 2010, of medium-duty trucks by the end of 2009, and of the Tahoe, Suburban and Yukon in 2010, or sooner, if market demand dictates. Chevrolet Kodiak medium-duty truck production will also end in Toluca, Mexico, by the end of this year.
http://online.wsj.com/article/SB121249686870241235.html
I feel dirty driving an SUV.
Maybe I can mount solar panels to the roof and disconnect the alternator to get better mileage.
#70 is seriously funny. If only Charlton Heston were still alive to appreciate it.
NJGator Says:
June 3rd, 2008 at 9:16 am
32 Grim - Still giggling at this line from the article:
Alli - I had the same reaction; re-read it a couple of times. I think it is a misprint, I know that street since a relative lives nearby. I think it should read, “out of an enclave of wealthy homeowners in Manalapan”.
#17
Is the sun up at 5:03am? :)
76 Hughes -
Ha! I grew up in Marlboro, which is also not Alpine or Short Hills. Our snobby neighbors would think Manalapan is where you’d buy if you couldn’t quite afford Marlboro.
Does anyone here have any experience with a tankless water heater? I will probably replace my water heater within a few months and I was wondering if tankless units work well or if hot showers will become a distant memory after installing one.
84 Gator
The store I ran was on 9 & 522(?). It was called the Marloboro Lowes, but I think the address was Manalapan. When I first moved here (from Indy) I was running the hiring office in a Manalapan strip mall. My lunch choices in the strip mall were Kosher Chinese or Kosher pizza. Quite a culture shock for a midwestern guy.
Todays entry for “Money can’t buy you taste”
http://www.realtor.com/search/listingdetail.aspx?ctid=130&mnp=40&typ=7&sid=64c7385310684aafb973a06a3e7d1351&pg=5&lid=1085612077&lsn=50&srcnt=50#Detail
They seem to have a problem with carpets.
Homebuyer (60),
He’s “retired” (wealthy) and does it just to do something. He doesn’t take on inspection jobs, only does them for family and friends.
But I do recommend an enginner over an inspector. They a lot more anal about details. You know, the type that grows coral or pulls out specs for a solar pool pump…
Is bobby Toll still ‘killin em’ in Hoboken. I didnt see any breakdowns…….
86 Hughes - 9&520. I’m pretty sure that’s solidly in Marlboro. Right by the Starbucks and the Coldstone?
I think I know the strip mall you are referring to. The one with the Jewelry Repairs By Us store? When my dad was working, my mother used to spend much time over there : )
And BTW, not everything in the area is kosher, but the expanded list of options in the area is pretty much limited to this:
Diner
Pizza/Italian
Chinese
Deli
WaWa
Fast Food
85 jmac
I sell them.
You have to think about them differently than a tank type heater. You will never run out of hot water. You may however experience a loss of pressure if you run to many appliances at once.
If you assume the incoming water temp in your home is 50 degrees, and you want 120 degree hot water you can get about 4.5-5.0 gallons per minute (GPM) through that heater (depending upon the model). How you use it is up to you.
For example, most showers today use 2.5 GPM, so you can run two showers at once. Or a shower and a couple of sinks, or a shower, the dishwasher and a sink. What happens is that when you use up more than that 5 GPM at once you lose flow to the various items on the hot side, so your lav may get a bit cooler.
Assuming you have a pressure balanced shower valve (only ones made in the last 10-12 years) you shower will lose pressure, but the temp should not change.
This is assuming
Where does NJ post the seized goods?
Anybody have an in with DEA?
I want some of those shoes for a charity auction.
I’ve been driving with the climate control off for the past week; definitely noticed an improvement in mileage.
Ofcourse, this might not be feasible in a couple of weeks with 90+ degree weather, but for now it’s rather refreshing.
-R
90 Gator
Yes, that is both the Lowe’s and the strip mall. I haven’t been up that way in a few years.
I only use my vehicles AC if it is really humid, otherwise I just drive with the windows down. Sucks too much power from the car.
#76 Hughesrep-
I used to run the Lowe’s in Manalapan.
If you don’t mind me asking, what do you do now?
And, I have relatives who are trying to sell me on Manalapan. Any other thoughts, suggestions on surrounding towns that would be good alternatives?
JM
#30
“Pets have become the latest casualties of the economy”
this disgusts me. would these people abandon their children too during hard times?
96 BklynHawk
I’m now the sales manager for a plumbing supplies distributor.
I didn’t spend much time actually in Manalapan or the surrounding towns, I only worked there. I pretty much did my time at work and got the heck out. It was retail management which means my opinion of the people in the area is at least a bit biased. Traffic on Rt. 9 is pretty much a disaster.
I lived in Belmar at the time.
73-
Is it me or does that look like they had to get an oil tank out from under the driveway?
JM
96 BklynHawk - I grew up in that area. What are you looking for in a town?
91 jmac
A couple other things on the tankless to consider:
Most heaters only activate once you start to use .5 gpm. Some low flow lavs faucets are borderline. You may have to replace the aereator to get the heater to even kick in.
Venting them can get real expensive. Most have to be vented with stainless steel. If you can put it on an exterior wall that is ideal.
You may have to increase your gas line sizing. Typically they ramp up to 199,000 BTU’s which is a lot of gas to get through a pipe less than 1″.
Avoid the electric ones at all costs, they are worthless.
99 - It sure does. And the list price is pretty low compared to other homes in that neighborhood. It’s in Millburn, listing for $580k. 1 block over there was a home that sold for $690k and one just on market for $799k. Those other homes are a bit bigger, but that;s a huge price differential.
#6 Pat,
I guess he would ban me then….
Yesterday I was talking to a friend from Merril who works at the Ewing facility. All contractors got a 10% pay cut. No one complained!
38 tbw
“njpatient: You can’t expect people to just not go to work”
no indeed - just not via single-occupant Canyonero.
39 al
“When you see significant reduction in traffic- that would mean significant reduction in employment.”
Unless it meant an uptick in train and bus ridership.
46 Al
“But - the real problem is that we are not staying in one place, and moving very often.
If I buy a house and I know that I am staying in the house for 30+ years - I would install geothermal closed loop verticall well heat pump, and some source of electric energy - probably combination of small wing turbine and solar cell.”
All good points. That is one of the reasons Mrs. Patient and I decided to wait until winter 2009/10 - we will then be able to buy the house we intend to live in for the rest of our lives, and I will be able to start gradually retrofitting for a reasonable degree of energy self-sufficiency.
AL 41
You are correct, the “American Dream” of suburbia was very much built on gasoline as in the 40’s and 50’s towars the end of WWII industry was literally trying to figure out what to do with the stuff. WHy not create a massive consumer maket for it by building our nfrastructure around a means of transportation that required the use of gasoline? there is a good video out there about it. i will see if i can dig up the link.
Automakers and Oil companies worked togather to kill the growing streetcar system and the expansion of the rail system, becuase if either of those system become entrenched then automobiles would not be able to compete.
The timing of all this happeningi n the 50’s was critical as there was a huge buildout of american infrastructure as WWII ended and the baby boom was ramping up.
53 al
“But again _ think geothernmal heat puimps for all condos, apartments, big office buildings should be a must. In a climate like NJ it will be pretty usefull. In CA - might be not, but here solar will be huge.”
I’m no expert (obviously) but I thought geothermal could be used for cooling as well
I spoke with a client that installed a vertical well geothermal system out in Berwyn that I believe ran everything: forced hot/cool air, as well as hot water.
Hoboken’s mobbed up developers take one on the chin:
http://www.judiciary.state.nj.us/opinions/a3101-05a3382-05.pdf
Geothermal works for both heating and cooling.
I think the heating side can be a bit uncomfortable on very cold days. The air never really feels “warm” to me, but it is just an opinion. If it is me I’d twin it with a regular gas furnace to give it a boost on days when it is below 20.
MLs 820165 - town house in shi*ty town of North Brunswick
12/03 sale price 330K
now asking 484K!
Wait a minute, don’t blame the sellers because a bag holder paid 512K in 12/05 for a house couple of doors away!
Have we seen a current article with May numbers for REO as a percentage of total listings?
I went back to early January, and I believe there was some number like 2.6% out there.
I’m pulling up stats from realtors on sites that shows some 4% numbers.
BrlynHawk-
Before you buy anywhere near Manalapan, you must take a drive on Route 9 on a weekend. It is gridlock between traffic lights every 1/4 mile. You will spend hours idling in bumper to bumper traffic.
You must also google “Manalapan Corrupt Officials” These low-rent politicians sold out to developers who overbuilt McMansions on every former farm parcel they could buy.
The folks that live in town get insulted if you lump them in with Marlboro….they consider themselves Colts Neck North!
JB, my SUV driving friends and family are all saying the same thing…peer pressure is making them feel dirty.
They’re being targeted with evil looks on the road, as well. Look, if it’s the economical thing to do, then keep it. Think of yourself as ahead of SOME curve. Get a sticker for the back that reads “Winter Storm Emergency Transport Volunteer.”
There. Problem solved.
As for the reduction in traffic due to either gas prices or employment, it has already happened down here in Mercer County. Much, much less traffic is on the road, and there are no trains or buses for most suburban commuters, either.
Here a link for solar pool heating.
http://www.easysolarkits.com/category_s/26.htm
An interesting take on Corzine’s municipality merger plan.
http://theamericanscene.com/2008/06/02/corzine-to-mayberry-drop-dead
I don’t think his analysis is quite right. I wouldn’t doubt that Corzine’s plan is about stealing from those who oppose him to give to those who support him, but the analysis of small town cost vs big town cost per capita is intersting nonetheless.
For embarrassed SUV drivers:
Just get a bumper sticker that reads: Your Hybrid is making oil cheaper for China increasing global warming!
Admittedly, it would have to be a very large sticker ;)
I’ve tried to avoid looking at SUV drivers with contempt. The problem isn’t Hummer bad, Prius good - the issue is that no matter what you drive, you have to drive to accomplish 99% of your daily living. SUV drivers are doing us a favor - the faster we deplete oil, the faster we’ll move on alternative living arrangements - note how I didn’t say alternative energy.
End of Suburbia is a movie available on Netflix which describes the rise of the consumerist American Dream made available by cheap oil.
Hughes - thanks for the tankless heater tips! It might be easier to get a conventional heater and make sure it’s as efficient as possible.
grim Says:
June 3rd, 2008 at 9:26 am
“Ok, so when I die, do I get buried or do I get burned?”
Or…..
Sky burial, become food for the birds and small animals.
Or…..
You can be freeze dried and then pulsed into a powder fertilizer - already happening in Norway.
Or….
You can be placed in an alkali bath and melted into a “bone shadow”. UK company, couple of systems over here already.
Lots of options.
Sorry, Sweden for the freeze drying. They are really pushing it too:
http://www.terradaily.com/reports/Sweden_Mulls_Freeze_Drying_As_New_Burial_Method_999.html
Link for the alkali bath:
http://www.resomation.com/
The scientists will find it interesting.
JMac,
You will typically want to get the largest capacity water heater that fits. Same goes for cooling systems. It is usually significantly cheaper to run a larger system on low than a smaller system on high.
109 patient,
yes you can use geothermal for cooling. you run a chilled water loop to the HVAC in place of the normal condensor loop. it is critical that this be sized correctly as if you are undersized then there are not many easy fixes after the system is built.
hugh 112
i recenlty helped my BIL put a geothermal radiant heat system in his home. Even on the coldest days the largest room, a large great rooom with large windows on 3 sides was very comfortable. There are 2 common issues that you may be seeing. The first is that the system was undersized. The second common issue is that geothermal raiant heat has a time lag. So a room does not heat up instantly. A radiant heat system wors on a thermal inertia principle. It takes time to get the room/floor up to temp, but once it gets there it is VERY stable. You also do not get the hot head cold feet effect of most heating systems.
RE solar,
Solar thermal is currently the most cost effective option for most people, and considering that for many a significat portion of the power/utiliy bill is due to water heating, also makes it fairly effective at helping reduce costs.
[85] Jmac,
I have heard criticism of tankless (too hot or too cold, never right) on this blog. They have been out long enough now that there should be some info.
So, we went from insulting asking prices on homes to the manner in which we want our remains to be disposed. Ok, I think our work is done here. BTW, in case some of you missed it, the id*ots are still asking ridiculous, laughable prices for their sh*t holes.
I am back .
Geothermal does run everything. - hot water, air conditioning and heat. however geothermal heat pump works on temperature differences. IN CA earth temperature close to air temperature (Unless you go well below 300 feet deep…) that would just be too expensive. Geothermal in NJ would be great for cooling - I’d say savings % wise would be higher than for heating.
Couple geothermal with radiant floors heating and radian cool ceilings (yes they have those!!!) and you’ve got yourself very nice, quiet and efficient system.
Extremely expensive as well.
Thats what I would get if money were not an issue.
I also cannot fault the SUV driver too much. There may be a compelling need (large family with Great Dane), and in Jersey traffic, I know I feel better with lots of steel around my family.
Besides, the market provides the disincentive. If you have to drive it, you have to pay. Seems eminently fair to me.
I saw this article today and it reminded me of 3bonehead and a few other terrorists and cheapskates here. As you might recall, 3b admitted to trying to stretch his toilet paper supplies because he’s an unrepetant cheapskate. Looks like he’s got company. Here’s an excerpt from this article:
Thompson is most meticulous about one thing: paper towels. She’s had the same roll of Costco paper towels since March 2006, and she estimates that there’s still about an inch left. If a houseguest asks for a paper towel, they most likely will be turned down.
Thompson only uses paper towels for “icky” jobs, like getting oil off anchovies. She relies on rags and cloth napkins for most other needs. She does have a little bit of a cheat, though: If she goes to a restaurant and is given a stack of paper napkins, she will take those home and use them.
Thompson, who also lives in Seattle, has been trying to conserve paper towels for about 10 years, motivated by a combination of environmental activism and lifelong frugality.
http://www.msnbc.msn.com/id/24879628/
This sort of thing is totally ridiculous. If would be one thing if these people were homeless, but the folks in this article are working and just don’t want to spend some damn money.
Hughes - thanks for the tankless heater tips! It might be easier to get a conventional heater and make sure it’s as efficient as possible.
Instead of buying a new tank/heater, you can Install additional insulation to your existing water heater/water tank.
I am not sure if new tanks are insulated enough that installing additional insulation will help.
There was a guy I worked with that would steal paper plates and plastic flatware from the company cafeteria.
Although I’m not sure if he was trying to be frugal. I think it was because he was just too lazy to do dishes.
#131 rediaperwipe: Give it a rest, witht the toliet paper. it’s not even remotely funny.
On top of your general ignorance, it appears that you are incredibly immature, and socially inept.
Instead of coming here and crying for a handout, why not look for a second job
#128 gary: Yeah, but they are prestigious sh*t holes.
Nom
Totally agree. I have owned SUV’s for the past 10 years and would continue if not for the cost of ownership. I just moved to a sport wagon, which can handle me and my wife, the baby, our 115 lb dog and our gear, although it is a bit cramped.
I am still not convinced that driving a Prius is really that efficient. I know a little about what it takes to produce Li ion and other batteries in mass, it takes a ton of electricity. Even worse is the Prius owner who lives in a 4500 sq ft house (of which I know a few). I think hybrids, especially plug ins are a great idea for fleet vehiclles, cabs, rental cars, etc. But at the consumer level don’t offer much value unless you are single or married w/o kids/pets.
What happened to BC Bob? Did he buy a house?
110 grim
“I spoke with a client that installed a vertical well geothermal system out in Berwyn that I believe ran everything: forced hot/cool air, as well as hot water”
Hey - we might be neighbors in 19 months.
“Get a sticker for the back that reads “Winter Storm Emergency Transport Volunteer.””
How about “Rescue Dog Tranport Vehicle”?
“What happened to BC Bob? Did he buy a house?”
I was just wondering this - was hoping he’s lying on a beach somewhere on R&R
” If a houseguest asks for a paper towel, they most likely will be turned down.”
I’m guessing this problem doesn’t arise much since the flow of houseguests has slowed to nil.
128 gary
“BTW, in case some of you missed it, the id*ots are still asking ridiculous, laughable prices for their sh*t holes.”
Sadly, I didn’t miss it. Got my link this morning from grim and the usual suspects and their lunacy abound.
Kettle,
Here is that Bartlett Shale article
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=ayj1uo_gdNI4
hehe
will comment on article later, thnx
Sorry Bakken Shale
#135 JBJB
For Memorial Day weekend the PGC clan took the Prius to West Virginia. The roof box gave us some extra room for packNplay’s, air beds and the double stroller. With Mrs PGC the two kids and lots and lots of luggage MPG dropped to the mid 40’s.
We drove 800miles for $65.
The Prius uses NiMh and will continue through the 2009 model when they are heading to 100MPG and hopefully a plug. At that point my Minivan will be sent packing.
I would suggest people go test drive a Prius before they knock it. There is so much room inside them.
After 1 year and 22K miles it is still worth 85% of what I paid.
#145 rediaperwipe: You are a class-less act.
Sad, pathetic individual under the mistaken notion that you are humorous.
Best you spend your time looking for that second income.
I was on a team building a hybrid in 94. From an engineering perspective the planetary drive in the Prius is just a beautiful design.
In my very humble opinion, no family “needs” an SUV. Back in the day, my family (2 adults; 2 kids; 1 dog) took long road trips in normal passenger cars. We survived. Large families owned station wagons. Also, it is totally possible to live in NJ without a car at all. I did it for two years—did supermarket, doctors, library—on a bike. And I’m sure I’m old enough to be the parent of many people on this board. Just sayin’.
pgc Did you ever consider hanging the stuff off the back for better wind resistance?
PGC
Thanks for the report. I have driven the Prius on many occasions. I get it as a rental car whenever I can on business travel. My retired in laws also have one which I have driven a few times. I still have a hard time believing you can comfortably fit a family of 4 with all luggage in and on a Prius, but I’ll take your word for it.
Correct, the current hybrides are NiMH which are more costly to produce (price and GHG) compared to Li ion. Making NiMH at commercial scale is a dirty business, and is fairly CO2 intensive. Thats why I don’t believe standard NiMH based hybrides are actually that much more efficient when you consider the entire material supply chain.
Plug-in hybrids using re-chargeable Li ion coupled with cleaner electricity generation (nuclear, solar, wind) will represnt some real progress, hopefully we get their soon.
PeaceNow:
I bought my first car when I was 25 years old. I’m still driving it nearly 13 years later and it almost gets as good mileage as a Prius.
Of course I own an Xterra as well. So mind your own business ;)
Guys:
Roubini has posted an article on his blog from a former German foreign minister saying that Israel will attack Iran before the Bush presidency is over. In fact, Bush gave them the green light during his recent visit.
Hmmmm..hullo $10/gallon??
http://www.rgemonitor.com/blog/roubini/252723/
I grew up in the back of this behemoth
http://en.wikipedia.org/wiki/Image:1973_Ford_LTD_Country_Squire.jpg
So did I Grim. And with a family of 9, there really wasn’t a lot of room in the back with my two older brothers. I’m surprised my growth wasn’t stunted.
That thing was a 10 seater, 3 in the first row, 3 in the second, 4 kids in the flip up seats in the rear.
Beat that SUV!
Victorian: I read that article a couple of days ago. Forget the $10 gas, worry more about the reinstallation of the National Draft. If attack occurs before election, McCane will win fer sure.
Flip up seats? We weren’t so lucky! We would actually just lay down and stare up at the ceiling. Fortunately, we could easily pull our sisters’ hair or pling their ears with relative ease from that position.
Do I sound like John?
#157 - Wont a draft be the tipping point in terms of an already disillusioned but passive public turning active?
#133
Grim, my old EVP steals the individual coffee mini-cups used to brew a single cup of coffee in the office. He fills up a bag and lugs them out to Long Island on the LIRR. He would have to open up 12 of these and pour them into his coffee maker on Sunday morning to make a pot. Oh, and he clears just shy of a Million Bucks a year.
Some people are just plain cheap, it’s a disease.
# 158 - Stu - not even close!! John would have woven a couple of hookers and drug-dealers in the plot line by now :).
154: my wife’s grandfather had one of those!
158
You have to finish it:
Fortunately, we could easily pull our sisters’ hair or pling their ears with relative ease from that position. It worked out for her though, she wasn’t so shocked by that behavior she went on tour with The Stooges. Dad wasn’t happy, but she got to see Detroit.
Very nice Hughes
Speaking of John, where’s he been? We must try to persuade him to come to the GTG.
Finance Guys (ChiFi whoever else)
I moved all of my funds into a stable fund back in October 2007 (The only smart market move I have ever made). They have been sitting there and have made about 3% return to date.
I was going to buy back in to my usual aggressive portfolio when the market to a dive in March. I watch it go back up and now it seems to be back down to reality.
I am not a huge market timer, but it wasn’t too hard to see the crap that was going to hit the fan back in October. I don’t mind being in this stable fund, but when do you think is a good time to buy back in to my aggressive portfolio so I can set it an forget it? Do you think inflation is going to counter a signficant fall in the market and that we are probably at a low? Thanks
159 vic,
that is what false flag operations are for. and if you dont think that could ever happen llok up the gulf of tonken or operation north woods
#151 JBJB
True, NiMH is Co2 intensive, but there are two other factors to consider. The amount of CO2 produced over the lifetime of the vehicle is much lower than a standard car so the high initial footprint is balanced out. At the end of the battery life (probably 15yrs), the battery can be recycled. NiMH are recycled to reclaim the nickel to use in stainless steel production.
Here is an interesting site to check where your car lies.
http://www.epa.gov/greenvehicles/Index.do
JB,
We had the same Country Squire, but no flip-up seat in the back. That is until it caught on fire on the way home from the store. The transmission itself was burning. If you have never seen metal burn, its quite a sight.
After that, my parents went for the Datsun 210. After all, it was 1980 and gas was expensive. I’m not sure if the increase in back-seat fighting due to the considerably more cramped accomodations were worth the gas savings though.
TJ,
When the DJIA reaches 0, then it probably would be a good time to get aggressive.
Datsun 210.
My sister had one of them once. We used to call her Ms. Pacman. The car was virtually indestructible and I bet there are still more of them on the road than 2004 Saturns.
Jersey isn’t the only place with out of control public employee pay
But the real nail in Vallejo’s coffin was the city’s labor costs. Under the current labor agreement, the average police officer walking the beat in Vallejo will be paid $122,000 this year before overtime, according to city documents. An average sergeant will make $151,000; a captain, $231,000. The average firefighter, meanwhile, will bring in $130,000 before overtime.
Fat pensions spell doom for many cities
http://money.cnn.com/2008/06/02/pf/retirement/vallejo.moneymag/index.htm?postversion=2008060305
Doesn’t it make you proud
/sarcasm
Toyota Prius To Have “Made in USA” Label?
http://www.edmunds.com/insideline/do/News/articleId=126576
We installed a tankless WH in 2004 to replace our old conventional WH. THe tankless never really worked well. The water would turn cold a few minutes into a shower. The pilot light was always going out. We were able to return it, then purchased a conventional WH. Perhaps the technology has improved over the last few years, though.
With all the moves Bernanke has hit, wasn’t the market expected to react a lot different than it has? It seems to be heading back towards the Bear Stearns bailout days.
What will Kudlow blame this on, Clinton’s possible concession?
My family would never own a Ford…We were always GM or Chrysler. In the early 70s during the last oil crisis, My parents packed us up and took a 3 month tour from NJ through most of the states except for New England, Hawaii and Alaska in one of these:
http://en.wikipedia.org/wiki/Image:1972_Pontiac_Grand_Safari.jpg
My father had a couple of different sets of license plates - odd and even digits so that we could get gas any day we needed it.
For those that weren’t around, or were too young to pay attention, there were even/odd gas rationing. They went by the last digit on your plate. I think that odd calendar days required that you had an odd number at the end of your plate - even day, even number at the end…
We finally ended up junking the Grand Safari in 1990.
… on the elevator today, co-worker who knows I have been househunting asks if I found anything yet. I said no even though there is a lot of inventory out there. Unsolicited, two people that I don’t even know also on the elevator add “That’s funny, I live in Paramus and all the houses in my area sell within two weeks at asking price…” and “…. yeah, I live in Morris County and anything under one million sells within the month.”
What bubble burst?
Has anyone else noticed that the number of stale listings on the MLS for any given town is directly proportional to the number of posts (and idiocy of those posts) its residents make on the nj.com forums? I wonder what that is all about.
“Chrysler says sales in May dropped 25% over last year. More soon.”
#179 njpatient:Chrysler’s days numbered??
#178 seneca: Perhaps next time you see the person from Paramus, you can ask them why there are 150 houses currently for sale in Paramus, according to the njmls.
Does nto sound like houses flying off the shelf.
True, though, the extent of the denial is unbelieveable.
84:
Marlboro. Innit that out there over in flavor country?
#180 - Chrysler’s days numbered??
They’ve been for a while now. Constant cash infusions from MB was the only thing that was keeping them going. That’s all gone now.
It’s really beginning to look like the late 70s all over again. Hello stagflation!
But I do recommend an enginner over an inspector. They a lot more anal about details. You know, the type that grows coral or pulls out specs for a solar pool pump…
Whoa grim he torched ya a@ss
KL
italics off please?
I also think Chrysler’s days are numbered. They need to trim the fat. They can continue with Dodge as their mainstream brand. Does anyone think “luxury” when they hear chrysler?
Jersey isn’t the only place with out of control public employee pay
From the article…
“Vallejo, Calif., took the extreme step of filing for bankruptcy to get out of generous obligations to public employees. Other cities and states are watching.”
NJ Unions should take heed; You can kill the goose that laid the golden egg.
#186 sybarite: They used to be the “luxury” Chrysler Cordova, with the reeech Conrinthian leather.
187 Renting - I think all that NJ Unions would take from that article is that they deserve 90% pensions too. And they have to work until 55. They are getting royally screwed.
NJ Citizen Action is leading a charge to get the Legislature to pass The NJ Home Ownership Preservation Act (A2517/S1599), basically, a bailout.
I wrote my reps with my opinion and a promise to switch to the GOP if a bailout is passed. There was no handout for me to buy a place, and I shouldn’t expect a waambulance to pick me up and bail me out if I overpaid or agreed to something I didn’t understand. Hmm… the bill may be bipartisan which makes my GOP threat useless.
KL (184),
Whoa grim he torched ya a@ss
Awww come on KL, don’t jump the gun
I’m sure he realizes, it was all in fun
And just for you I took the time
to make my reply a little rhyme
PeaceNow,
What is a station wagon but an SUV with no ground clearance? Gonna tell me that the land yachts of the 60s and 70s saved more gas than the Ford F150s? Not at 350 or 455 cubic inches, they didn’t. Certainly can’t be better than an SUV. I have a wagon and the mileage sucks. So I am just as evil as an SUV owner, n’est pas?
Not at all happy about that, but I suck it up because I transport a 5 y/o and don’t have a lot of faith in the awareness, ability, or decency of the average Jersey Driver.
In that sense, it is like gun ownership—Lots of folks will give them up when you can guarantee their safety. But until then . . .
At the beginning of the year I saw the -1% but lately people are listing much much higher in my neck of the woods. In one case up to 30% but on average about 5%-7% higher.
I’m not sure if they are privy to something major I haven’t heard of or if someone is dealing lots of weed in my area.
I already told the wife if they get anywhere close to that the for sale sign is going up within an hour. Somehow I think their all high on something.
does anyone know if there is a difference in making an offer to a realtor or a REO asset mgmt company? Does the REO company have to present all offers to the bank?
I installed my own tankless water heater two years ago, after my water heater sprung a leak just as I was about to leave form Memorial Day weekend (it was a blessing to discover this BEFORE I left for the weekend). I am not a plumber, and it took me about two full days to install. The first couple of days, the pilot would go out, or the water would suddenly turn cold, or it wouldn’t get hot enough, it seemed. Then it spontaneously seemed to improve. I have had for two years, and I would never go back to a tank. I have a Bosch brand, rated for single use (can’t take a shower with the dishwasher running). I definitely noticed lower gas bills. I highly recommend, but they do require a degree of patience in getting used to.
jmac,
A2517?
You aren’t fully embracing the unintended consequences and fallout of that legislation.
You need to look at that legislation from the vantage point of a lender.
#195 CB
I’m seriously considering doing the same but want to get a gas one that you can do dishes while taking a shower.
What was the most difficult part in installing the tankless system?
Every plumber I have called wants over a G to replace the water tank but will replace a water tank for a few hundred. Somehow I don’t think its that much rocket science to do myself.
Or a politically connected businessperson with some campaign donation dollars looking for a home.
PGC
I am also very skeptical of a 15 year battery life on any NiMH battery. Again, I beleive when you conisder the cradle-to-grave analysis on a current hybrid vs a similar gas or diesel powered engine, I don’t think the overall CO2 emissions are that different. Nickel has to mined, refined,and purified - all CO2 intensive proceeses. Hydrogen gas needed for NiMH is made by steam reformation of methane, which is another big CO2 hit. Not to mention the process to make the actual anodic/cathodic material and assembly of the batery. The CO2 savings are not enough to warrant the 6-7 grand premium they sell for and the associated subsidies in my opinion. Of course the improved gas milage is nice with 4.00 USD/gallon, but you are scraficing something - space, safety, torque, performance, etc for the improved gas milage. Of course one has lowered their own personal carbon footprint by driving a hybrid but not necessarily the total amout of CO2 in the air. This is my problem with current hybrids and some of their more ardent supporters. They feel good about themselves because they think they are being “greener” than everyone else, and some are even quite enthusiastic about pointing it out. However, they are in fact not doing much to really affect CO2 emissions because they are simply trading WHEN not IF the CO2 gets released in effort to maintain a comfortable standard of living. In the meantime, they have abeted in making a generally ignorant population think that it can impact CO2 emissions by simply paying up for a hybrid at an extra 75 dollars/month on their Prius lease.
You will know when we have collectively started to reduce CO2 levels by a meaningful amout - because your lifestyle and standard of living will be greatly altered (and not for the better as currently defined). Until then it’s mainly window dressing and feel good band-aid solutions that trade one set of problems for another. A dramatic downgrade in individual standard of living is something most people will never tolerate. It’s political suicide. That’s why we have hybrid subsidies, cap and trade, Kyoto, and all the other smoke and mirror nonsense out there floating around.
The last time NJ tried to tighten the reigns on subprime, they stopped writing loans outright.
Pat (6)-
“…anybody else wondering how Clot would know it was me if I walked into his office?”
1. I’d recognize your font type. :)
2. Only psychopaths (I include my agents in this group) walk into my office. Assuming you’re of sound mind, I’d immediately have you pegged as a njrereport poster.
#197 Mitchell
“Somehow I don’t think its that much rocket science to do myself.”
I can see the headline now. Fireball in Charlotte. News at 11.
galgon (26)-
The buyer reserved himself the right to bail out up to 30 days after the short sale package was complete at Countryfried. Even though we all explained to him that the decision might take 90-120 days, he exercised his out on day 30. Idiot.
Now, I’ve put the property back on the market, and Countrywide has done its due diligence and assigned a loss mit rep to the case. The next offer has a great shot at getting this house.
bairen (202)-
I think we are witnessing Mitchell moving into the realm of TSTL.
Leave him be. If he vaporizes himself, mankind is served.
202. Maybe I should wait till July 4th. ;)
I’m mechanically inclined otherwise I wouldn’t attempt it but you know there are a few tips someone who has done it before can provide.
Too Many crooked contractors out there. The first Jacuzzi tub I installed in a bathroom I contacted 3 plumbers to do the pipes and I even provided the extended drain $60.00. All 3 had the same BS line. Oh Jacuzzi thats extra and wanted $1,000.00 to hook up the pipes. One was even on sight to see the tub was already roughed out and set in place. Somehow Jacuzzi drains confuse contractors with thier magic. I did it myself and because I had to buy the supplies and cut the pipe twice it cost me a whopping $23.00 to do. Now I hear the same lame story Tankless water heater oh that’s extra. The only extra is the drain and it plugs into an electrical outlet. Small increase in technical skill that is not worth an extra $700.00 to install.
Gov Corzine asks what’s the best way to reduce spending…
http://www.nj.gov/governor/citizeninput/
#204 Yup we all cant be one step above penny stock pump and dumps like you Clot.
Re Bob Toll:
Five Things You Need to Know: Good Time Businessman; Hard Time Socialist
http://www.minyanville.com/articles/toll-brothers-tol-ford-f-fuel/index/a/17411
Grim unmod please
grim (70)-
“SUNOCO BLUE IS PEOPLE!”
First Soylent Green reference I’ve seen here in at least three weeks…
Mitchell (207)-
Please refresh my memory as to penny stocks I’ve pushed here.
bear (206) - It would be nice if any suggestions were seriously considered or put into place. Still, it does make one think about where to begin. Perhaps we could come up with a top five, for use by the good govenor.
#210 As I said one step above.
You remind me of Stuart Smalley
“I’m Good Enough, I’m Smart Enough, and Doggone It, People Like Me”
Grim -
Why do you think this will benefit lenders and the usual corporate suspects?
I’m trying to multitask today so I didn’t give the Foreclosure Prevention bill my full attention. I only had time for a rare semi-emotional outburst. In my angry note to my legislators I pointed out that the main beneficiaries would be Toll Bros. and Hovnanian, although I couldn’t articulate why. While I haven’t dived into the bill, I can see how public funds for catch up payments benefit lenders. Foreclosure prevention also props up prices keeping other sellers and builders happy. It also makes legislators look good to their constituents especially in counties with large urban populations.
This is going to get ugly.
Wag (211),
I agree. I don’t know all the issues in NJ therefore my views will be biased towards foreclosing all homes :)
There might be some here who are qualified to make a list. If someone can do it, I’ll be more than happy to use their list when i call my representative.
Mitchell (212)-
I am now actively rooting for you start playing with natural gas. Do you smoke cigarettes, too? Tip: gas and Marlboros go together like Dr Pepper and chocolate ice cream!
Actually, anything you post that does not involve the following is a welcome relief to the one nerve I have left that is not frayed to a crisp:
1. Charlotte RE.
2. How bad we have it here in NJ.
3. How good you have it in NC, compared to when you lived in NJ.
4. The heifers at your local coffee joint.
5. Your buff physique. If you’re 300 lbs and buff, you are either getting steroids from the doc that supplied Chris Benoit…or, you really look like Larry the Cable Guy. My bet is on the latter.
6. Your sucky HOA.
Look for the tall grass folks. Just took a ride around town many houses no sign for sale, 1-2 foot high grass. Two of these I know are jingle mail been siting for months.
The banks & courts are backlogged. The worst is surly yet to come. Next winter should be a blast for buying a house. We shall see, no hurry. They ain’t going anywhere & they ain’t going up.
mike (217)-
Look for the swimming pools that have become the home offices for West Nile virus.
There are gonna be some pissed off neighbors in a few weeks…
Wow… what a surprise…
From AP via Yahoo
AP tally: Obama clinches Democratic nomination
Barack Obama has clinched the Democratic presidential nomination, becoming the first black candidate to lead a major party into a campaign for the White House. Hillary Rodham Clinton swiftly signaled her interest in joining his ticket as running mate.
Obama sealed his nomination victory Tuesday, based on public declarations from many “superdelegates” as well as private support from others who confirmed their intentions to The Associated Press.
Truly hate to break up the romance and happy talk, but I’d be interested in anyone’s comments on the effectiveness of a page like, and also whether one could assess the agent’s skills based on this page:
http://tinyurl.com/3nukh7
On second thought, I retract my insult of Larry the Cable Guy.
Dude’s pretty funny:
http://tinyurl.com/52qdmx
Crush (220)-
Looks like he just regurgitated a bunch of REO, gleaned from various sources.
Clot they’re already pissed off on my block perfect laws & all ,then just towards the end the jingle mail house with 2 ft grass. Lady right across the street from it is trying to sell a 4bd chc now she must be really pissed. Nice house, asking 309, we shall see. Don’t get excited you need a lot of gas & time to get to work from Vernon folks.
#216 Clot you have some serious mental issues to spend so much time with what I have to say and its clearly shown with your little dig attempts at belittling anyone with a fat comment? LOL.
Calling someone fat you never met or implying only shows how pathetic you are and how you require some sort of superiority to others.
Face it you have superiority issues to make up for something you are truly lacking in life. Maybe you were ripped off on one of those make you member bigger e-mails I don’t care to know. You certainly come across as a big member to me.
I’m sorry your such and angry and bitter person to people who live life better than you for whatever reason so much that you try to down them to make yourself feel better.
If it will keep you from being an angry person tail gaiting, horn honking, and cursing and people on the parkway just imagine I am fat and a chubby chaser and no where near as smart as you and I live in a trailer with my imbred wife and kids. Whatever it takes to make yourself feel better about yourself. Go with it. Your a winner. Jersey’s finest.
Volley returned. Told ya it was going to get ugly.
On another note kids want to see Ironman, did anyone see it any good? We have a drive in pretty cool I love it. I used to go to the one on RTE 3 where Giants stadium is now.
#226 Iron Man is good.
Dont see Indiana Jones its cheesy.
Hey Rich,
Thanks so much is what I’ll say
For my belly laugh of the day!
Clot,
When Pat comes in I’m sure
you’ll catch her
She’s often said she’s
quite short in stature
KL
Pension Crisis
http://money.cnn.com/2008/06/02/pf/retirement/vallejo.moneymag/index.htm?postversion=2008060305
MIW #226 - Ironman is excellent. Not sure if its appropriate for small kids.
Clot & Mitchell,
Can’t we all just get along?
R. King
Re: 192 Nom Deplume:
If you really care of your 5 yo, junk your SUV and go with full size sedan. SUV safety is another marketing myth
If you are in a sedan and hit on the side, there is only glass and an airbag between you and the Escalade grill.
SUVs do have higher incidence of rollover, worse braking and steering than sedans, so its not completely obvious which is safer overall.
I guess that if you’re confident in your ability to avoid accidents, you want a sedan. But if you’re more worried about other people hitting you, I think you want an SUV (or maybe minivan)
re: politicians:
they will only stop spending money when there is no more money to spend. we are going to see waves of defaults in the coming decades w/r/t pensions (or confiscatory tax rates).
If you have a problem with this, I think you should vote against any politician who even entertains the idea of raising a single tax at all. Giving them more money doesn’t solve anything
# 37 “njpatient Says:
June 3rd, 2008 at 8:11 am
Gas prices may be high, but I don’t see any reduction in commuter traffic as yet.”
I bet if we surveyed workers and employers we would find little opportunity for changes in work schedules (for most jobs) that would allow folks to carpool, take mass transit, or not go into their workplace as often.
SHore,
i agree, very few people have the ability to alter thier work schedule and hence commuting pattern. Corporate doesnt care if joe shmoe wants to work a compressed 4 day work week to save on gas. On top of that there is not much opportunity to shift your commute to mass transit for most people.
As someone said yesterday, when you see less traffic it will becuase of how many people have lost their jobs
In 2001 Popular Mechanics had an article about SUV vs Car vs Truck Safety there are some more recent updates from 2007. I also remember seeing study on some gov’t website. What was interesting was that the more you pay for a car the higher chances that it would be safer.
This was an interesting bit from that article:
They also mentioned that side impacts are the deadliest. So splurge for a car with side airbags.
Something else I didn’t know was that 57% of fatal accidents are single vehicle accidents. SUV’s are more likey to roll over as we’ve seen in many years worth of news clips. If two vehicle’s colide, you’re better off if you’re in the bigger one.
In reality though, I think people would be better off as a whole if there were less large vehicles on the road. If you really don’t need one why bother with the expense? Also keep in mind that the profit margin’s for SUV’s are a lot higher so always look into claims that try and steer you in the direction of purchasing one.
My personal belief is that sedans are more manuevarable and have better breaking which can help drivers avoid accidents. I actually felt very safe when I used to ride a motorcycle because of this.
I saw this on the Turnpike tonight.
Get a load of the URL:
http://iwantoutofnj.com
Will someone from this board please help these people!!
Make us an offer we cannot refuse!!!!
Desperately Seeking a Buyer
We may have to give our house to the bank!
Visit our three bedroom Center Hall Colonial and you will fall in love with it just like my wife and I. We are sad to leave our home! Our home, located on a quiet, tree lined street in Union, is perfect for a family or busy executive who has just relocated and wants a great house located in one of Union’s most sought after neighborhoods.
Our home features an inviting living room with a gas fireplace and custom built-ins, and is large enough to enjoy a very large screen TV. In addition, the first floor boasts an eat in kitchen, formal dining room with custom molding, an airy den, newly remolded full bath, and laundry room. The second floor’s three bedrooms are roomy and the master has his and hers closets. The bath is brand new. The full walk-up attic provides extra storage space. The whole house attic fan cools the house when you do not want to run the central air conditioning system. Our basement is finished and has a separate office that is perfect for the person who works from home. There is even a toilet and sink in the basement.
This home is centrally located minutes to shopping, the train station (approx. 25 minutes to NYC), and major highways. The neighborhood elementary school is just down the street. The neighborhood is excellent. People are continually renovating their homes. When the market turns around you will be in an excellent position having benefited from the downturn. Builders are tearing homes down and building $750,000 homes in the area. I would not be surprised if this house would be worth nearly $500,000 in a few years.
Two recently updated bathrooms
Finished basement with a separate office and storage area
Central air conditioning and gas heat
Ample closet space throughout the entire house
New hot water heater
Beautiful shaded backyard and patio
Newer energy efficient windows
Low taxes
We paid $450,000 in 2005 and invested another approximately $20,000 in improvements.
Good article in the weekly standard.
Housing crisis not over:
http://www.weeklystandard.com/Content/Public/Articles/000/000/015/170jdcim.asp?pg=1
As Stu and I were arriving home this evening, we spied a realtor taking photos of a multi-family home across the street. We asked her how much she’s listing the home for and she told us $539k. The home was assessed for $657,700 during the reval in late 2006. That’s over a 15% drop on a nice Montclair street walking distance to the train.
We will, of course, be watching this one closely. This is our big comp for our 2009 tax appeal.
oops…didn’t mean to post as Stu. He really needs to stop using my computer.
Anybody have any idea what the property the guy is talking about in 238?
Stu/NJGator: whichever one of your personalities is here ;)
I was looking at some of the data on my site and I noticed a bunch of towns decided to re-do their tax assessments so that they were more inline with “market value”. I guess that appraiser’s weren’t the only ones that were pressured to inflate values during the bubble. Errr… I mean boom, so I don’t offend any RE professionals.
It’s quite funny, the tax assessed value jumps from like 100k to 500k in one year. In some, but not all, instances it is because there was a major tear-down/renovation.
I know my town also did reevaluated home values for tax assessments but they didn’t seem to go as crazy as other towns.
My site focuses on foreclosure data for Bergen county so I haven’t really looked at what’s going on in Montclair.
some of you might find this interesting….
an FT interactive article on crude oil politics.
http://www.ft.com/cms/s/0/bc756fc0-2d9b-11dd-b92a-000077b07658.html?nclick_check=1
240….Multifamily in Montclair? Ew.
“NJGator Says:
June 3rd, 2008 at 8:32 pm
oops…didn’t mean to post as Stu. He really needs to stop using my computer.”
awwww
cute
192….naw…..cars are cars…lower and safer than the trucks (SUVs) that you feel all cozy in. And now, you are getting hammered at the gas pump….boo hoo. Go run over someone. and flip it and tell me how safe you feel.
the only thing worse than oil politics is crude oil politics
Damn, I lost a bet on this one.
I thought for sure it was going to be Clinton.
But, if you think Obama will bring “change” lol, thats funny.
and the CIA doesn’t smuggle drugs into the country either. lol.
I do love that cheese on the moon.
SAS
247…or a soccer mom on a cellphone behind the wheel of an SUV…
McCain is a dope too.
All candidates are nothing but puppets, bought and paid for by corporate interests & foreign central banks (same ones that own the private prisons you goto when you use the drugs smuggled in by the CIA).
who do I vote for? damn, don’t know.
SAS
“soccer mom on a cellphone behind the wheel of an SUV”
My wife wouldn’t drive an SUV or a minivan to avoid this sterotype too.
he he ;)
SAS
gas prices are only part of the problem with SUV’s. what happens when we end up woth gas rationing ( for what ever reason)?
if each car only get 10 gallons, then the average SUV can only go about 150 miles while the average sedan can go 250-280. Thats when the fecal matter really impacts the rotary cooling device
kettle1,
I remember back in the 70s, there were fist fights at gas stations all the time during the odd and even days.
crazy.
SAS
242 Tom - Many towns only reassess once every 15-20 years, so a jump from 100k assessment to 500k in one year is not surprising. The reassessments are revenue neutral for the town, so the year the assessments changed 5 fold, the tax rate was reduced accordingly.
244 Essex - Don’t knock the Montclair multi-family. There are plenty of them in quite nice neighborhoods. Ours is a 2 family, as are most of the ones on our street ( a mix of single and multi-family homes). They are almost all owner occupied and very well kept up. Most older owners converted to help defray their atrocious Montclair tax bills. Our neighbor who is selling is most likely doing so because her taxes went up about 30% through the last reval. Her home has not been significantly improved, but the value of our land shot up like mad due to the arrival of midtown direct at the foot of our block. That’s a big hit for a senior on a fixed income to take.
I guess the best thing about Obama winning is that it finally puts the Clintons out of their misery. I will not have to listen to that mess and her idiotic economic policy ideas ever again I hope. If I can think of thing worse than Bush’s bumbling diatribes it would have been Hillary’s fingernails down the chalkboard in my living room every night.
It will be an interesting race, I think Obama has likely peaked, he can’t get much more popular so he will get taken down a few notches over the coming months after a brief bump, even with a compliant media. It will be interesting to see if he jettisons the moony lefty rhetoric for a more pragmatic, centrist agenda. If he does he could be a serious contender, maybe the next Reagan (albeit from the left). If he stays beholden to the unionists, the race hustlers, and the grief pimps, he will be the next McGovern, and if he still eeks out a win, the next Carter.
I guess there is not much to say about McCain that hasn’t already been said. His best campaign promise is going to veto all the nonsense that comes from congress, which will be a compelling argument. I would hope he would start with the cap and trade idiocy now being cooked up, but even he seems to have bought into that boondoggle.
One thing seems to be clear, if you are an honest, hard working, productive person, you are likely going to get screwed either way to support the growing welfare state.
“A paralyzing rise in money supply”
http://tinyurl.com/3sop5f
SAS
SAS, in 76, I lived in a house next to a gas station. We had curving stairs with a big landing where I liked to read and do my homework.
George would get them lined up all the way down the street. I’d sit on the landing of the front staircase and watch. There was no bathroom in his station.
He’d look up and wave when somebody was coming over to knock on our door, if the person was O.K.
So, I’d open the door and let them use one of the upstairs bathrooms.
254…I dunno. The thought of sharing space with RENTERS….oh the humanity.
Don’t forget Obama’s main advisor is none other than Zbigniew Brzezinski.
Meet Obama?s Foreign Policy Brain: Zbigniew Brzezinski
In an interview, Zbigniew Brzezinski, President Carter’s National Security Adviser, admits that it was US policy to support radical Islamists to undermine Russia. He admits that US covert action drew Russia into starting the Afghan war in 1979. Asked if he has regrets about this, he responds, “Regret what? That secret operation was an excellent idea. It had the effect of drawing the Russians into the Afghan trap and you want me to regret it? The day that the Soviets officially crossed the border, I wrote to President Carter: We now have the opportunity of giving to the USSR its Vietnam war.” Then he is asked if he regrets “having given arms and advice to future terrorists,” and he responds, “What is most important to the history of the world? The Taliban or the collapse of the Soviet empire? Some stirred-up Muslims or the liberation of Central Europe and the end of the Cold War?” The interviewer then says, “Islamic fundamentalism represents a world menace today.” But Brzezinski responds, “Nonsense! It is said that the West had a global policy in regard to Islam. That is stupid. There isn’t a global Islam….” [Le Nouvel Observateur (Paris), 1/15/1998]
258 - Hey we’re tolerant people. Montclair is known for that.
254: stu/gator
I just find it odd that some localities decided to go with a tax assessment that was so closely tied with the inflated market values of the time. Like I said, when my town reassessed the properties, the values didn’t seem to be so bad.
As per your neighbor who is selling. NJ has a program for seniors that used to be called the Senior Freeze and now I forget what it is called but the forms are PTR-1 and PTR-2 depending on if they already filed or not. The income limits are reasonable for most senior citizens.
Basically the way the program works, the first year you file becomes your base year. Then every year after that, if your property taxes are greater than what they were in your base year, you get the difference back. If she already filed her PTR-1 before the 30% increase she’ll get it back. Provided she can find a way to make the tax payments in the meantime.
If you want to find out more for her NJ Tax Div has info at http://www.state.nj.us/treasury/taxation/text/propfreztxt.htm. The filing deadline has been extended until August 15th so maybe she can still get in at the old rate before taxes go up?
I have to keep on top of this for my mom because some people seem to be confused over it. My brother and even the local tax official screwed up and filled out the wrong forms for her which would have meant she would have gotten back nothing until I checked.
This article by Malcolm Gladwell exposes the myth of SUV safety:
http://www.gladwell.com/2004/2004_01_12_a_suv.html
If I remember correctly most buyers perceive SUVs as safer because they over-estimate the risk of a crash involving another vehicle and under-estimate the risk of a single vehicle crash. SUV vs. car collisions pose a grave risk to the car occupants while the SUV occupants are no safer than they would be in a passenger car. Also nimbler passenger cars can avoid accidents while evasive actions would send an Expedition tumbling over on to the freeway median - the dealer will conveniently forget to mention that.
Nothing wrong with multifamilies. It’s easier than you think.
Gladwell’s article is a must read–note the short sighted profiteering at the Big Auto Makers….who runs those firms? Ever hear of planning????
So….
What have I missed today?
–Radicalization of Afghans, endorsed by Brzezinski, fell under the direction of accused 9/11 mastermind Osama Bin Laden (CIA asset btw)
“Osama bin Laden begins providing financial, organizational, and engineering aid for the mujaheddin in Afghanistan, with the advice and support of the Saudi royal family.” [New Yorker, 11/5/2001]
“Obama saying he would attack terrorists in Pakistan”
http://tinyurl.com/3m9s5y
“Why I know Barack Obama is a phony”
http://tinyurl.com/2bblpy
SAS
–Radicalization of Afghans, endorsed by Brzezinski, fell under the direction of accused 9/11 mastermind Osama Bin Laden (CIA asset btw)
“Osama bin Laden begins providing financial, organizational, and engineering aid for the mujaheddin in Afghanistan, with the advice and support of the Saudi royal family.” [New Yorker, 11/5/2001]
“Obama saying he would attack terrorists in Pakistan”
http://tinyurl.com/3m9s5y
“Why I know Barack Obama is a phony”
http://tinyurl.com/2bblpy
SAS
Reinvestor’s ticked off..again. SUVs are being defended.
Gold is still circling the crapper, and nobody knows if Obama will hold out the olive branch and ask Hilmeister to be his running mate.
And BC has disappeared.
BC is still around, i heard from him the other day…. apparently the militant arm of the NAR has not gotten him yet
isn’t there suppose to be a NJ RE bubble blog party soon?
SAS
u blokes with the SUV…
lets look at our meal choices for the day
breakfast-oatmeal
lunch-oatmeal
dinner-Spam w/ a side of oatmeal
sorry, I couldn’t pass that one up;)
he he.
off to bed I go
night John Boy!
SAS
re 266
So Zbig is a Nazi now? And by extension Obama is one too? You are truly an idiot.
#256
indeed.
Re: SUVs
So much of people’s perception of cars is fashion. The Prius is a fashion badge among a certain group just the way the Hummer is among another. Many of the people who complain about SUVs never say anything about all of the V8 luxury sedans that get equally bad gas mileage. Suburus seem to get a pass somehow as well (they are crunchy).
I am impressed by people who say they are environmentalists and ride bicycles for daily transportation. Short of that, you are a part of the problem, so your complaints about others who may or may not burn slightly more fuel than you in the aggregate are less than compelling.
When I see a Hummer driver…..I see pain….and a fashion victim….bad timing….DOH!
it seems clear that the Hummer is going to be one of those 00s oddities like the Dolorian from the 80s
“I am impressed by people who say they are environmentalists and ride bicycles for daily transportation. Short of that, you are a part of the problem”
You also gotta hand it to folks who could drive but instead take public transportation (and no, I’m not one of them).
My favorite Hummer memory is the time Mrs. Patient and I went to Toys R Crappy to get the Little Patients a sandbox. As I was loading the giant box into the van, I watched in front of us as a frustrated Hummer driver in droopy drawers and draped with bling attempted to load a toy Hummer into his real Hummer.
It didn’t fit.
Not much room inside a Hummer, as it turns out. He had to strap it to the roof.
“it seems clear that the Hummer is going to be one of those 00s oddities like the Dolorian from the 80s”
I went to school with his son, Zach, in the ’80s. Nice kid. Very generous. We used to hang out in Central Park and share what he’d brought for lunch.
mitchell (225)-
I do not feel superior to you. You are simply boring and repetetive.
” You are simply boring and repetetive.”
Don’t forget “not given to brevity”
Stuff White People Like: Bicycles
http://stuffwhitepeoplelike.com/2008/02/10/61-bicycles/
“So Zbig is a Nazi now? And by extension Obama is one too? You are truly an idiot”
I never said Zbig was a Nazi, never said by extension Obama is too. False accusation & associations to try to sidestep the main points. My main points being, if you think Obama is going to being about “change”, people are wishing upon stars.
ex. Brzezinski, who has a track record that one could argue is not very good and a cause of major blowback.
SAS
“You are truly an idiot”
I must be an idiot.
Because everyime to go through a toll booth
I say to myself “that doesn’t exist”
SAS
‘False accusation & associations to try to sidestep the main points.’
I apologize. I assumed that you agreed with the implied position in the youtube link you provided as evidence. Since you don’t, though, I wonder why you chose that specific link,