Monthly Archives: November 2008

“It may be 2016 before home prices match the highs of 2006.”

Posted on November 30, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 70 Comments

From the Daily Record: Home prices drop 7% in Morris The average price of a home in Morris County dipped back below a half million dollars in the first half of the year, according to a new data analysis that … Continue reading →

Weekend Open Discussion

Posted on November 28, 2008 by grim
Posted in General | 298 Comments

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

T-Day Open Discussion

Posted on November 26, 2008 by grim
Posted in General | 109 Comments

Getting late here and I’ll be flying back tomorrow afternoon, so I’ll open this one up early in case I don’t get a chance to do it tomorrow. Happy Thanksgiving everyone! Wish you and your families the best! Keep the … Continue reading →

Mortgage Rates Plummet!

Posted on November 26, 2008 by grim
Posted in National Real Estate | 245 Comments

From Bloomberg: U.S. Mortgage Rates Drop Most in Seven Years on Fed Debt Plan U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven … Continue reading →

New Jersey Third Quarter Home Price Tracker

Posted on November 25, 2008 by grim
Posted in General | 204 Comments

NJ Home Price Tracker has been updated with NJAR Q3 Data, OFHEO Q3 Data, and S&P Case Shiller September Data: (click to enlarge) Year over Year Price Changes by Index S&P Case Shiller NY Metro Area Commutable (September 2008) Low … Continue reading →

Home Sales and Prices Drop in October

Posted on November 24, 2008 by grim
Posted in Economics, Housing Bubble, National Real Estate | 246 Comments

From Bloomberg: U.S. Economy: Home Sales Fall, Record Drop in Prices Home resales in the U.S. dropped in October and prices fell by the most on record, signaling a deepening housing recession going into 2009. Purchases of existing homes slid … Continue reading →

Weekend Open Discussion

Posted on November 21, 2008 by grim
Posted in General | 504 Comments

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

Wednesday Random Discussion

Posted on November 18, 2008 by grim
Posted in General | 294 Comments

Traveling today on business, will be out of contact for most of the day. I’m planning on being out of the country for the next few days. So please, keep things clean. Random image of the day: Discuss.

Not everyone benefits when loans are modified

Posted on November 18, 2008 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 281 Comments

From the Wall Street Journal: Investors Hit BofA Loan Modifications Bank of America Corp.’s decision to embark on an $8.4 billion home-loan-modification program to settle charges brought by state attorneys general against Countrywide Financial Corp. was hailed as a milestone … Continue reading →

Least Affordable: NY Metro Area

Posted on November 17, 2008 by grim
Posted in Economics, New Development, New Jersey Real Estate | 113 Comments

Good News: Housing affordability is improving! Bad News: Not for you! * * NY Metro Area HOI came in at 10.6, better than the mid-single digit figures that were set during the peak of the bubble. However, we’re still a … Continue reading →

“… Now we’re getting about 30 a day and 700 a month”

Posted on November 17, 2008 by grim
Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 189 Comments

From the Press of Atlantic City: Ocean County doubles rate of foreclosure Cars line the curb and Halloween decorations still hang in the front yards of the houses on Reel Avenue, a short street in the Ocean Acres section of … Continue reading →

Weekend Open Discussion

Posted on November 14, 2008 by grim
Posted in General | 573 Comments

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

New Jersey Foreclosures Up 75%

Posted on November 13, 2008 by grim
Posted in Foreclosures, New Jersey Real Estate | 94 Comments

From the Record: Default activity in N.J. up 75% Foreclosure activity in New Jersey rose 75 percent in the 12 months ended in October, RealtyTrac reported today. Nationally, the total was up about 25 percent. “October marks the 34th consecutive … Continue reading →

Foreclosure Filings up 25% in October

Posted on November 13, 2008 by grim
Posted in Foreclosures, National Real Estate | 221 Comments

From CNN/Money: 85,000 homes lost to foreclosure in October As government and industry scrambled to stem the housing crisis, another 84,868 homes were lost to foreclosure in October, according to a report released Thursday. Last month 279,561 struggling borrowers received … Continue reading →

“We’re in for a pretty serious recession”

Posted on November 12, 2008 by grim
Posted in Economics, Housing Bubble, National Real Estate | 373 Comments

From Bloomberg: U.S. Slump May Be Longest in Decades as Growth Fell Off `Cliff’ The U.S. downturn will be the longest in three decades, and the drought in consumer spending may be the worst ever, according to economists surveyed by … Continue reading →