Comments on: Home sales recovery skips the Northeast

By: Alexnyc88

Alexnyc88 — Wed, 06 May 2009 15:10:32 +0000

Does anyone know what normal price in Fort Lee area would be on houses that right now are asking 600-700K (These are still 2005-2006 prices based on my current research). One house on Franklin avenue was bought for $425 around 2001 timeframe. What do you think is realistic for the area given demographics and historical data?
Talking about normal houses (3BR) not mansions found in the Englewood Cliffs area. Thanks!

By: SG

SG — Wed, 06 May 2009 10:08:54 +0000

Want to Sell Your Home? Lower Your Price

By: zbeyp

zbeyp — Wed, 06 May 2009 09:10:21 +0000

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By: kettle1

kettle1 — Wed, 06 May 2009 05:48:04 +0000

rev

what i suggested is risky. but would it be any more risky then having money in the stock market when the government is rigging the game and we have a massive debt bubble?

Housing will be near a bottom when it approaches a 3X income to mortgage ration my worthless opinion.

You have to survive deflation before you worry about inflation

By: Revelations

Revelations — Wed, 06 May 2009 05:10:18 +0000

I was just thinking that if someone had this money out of the stock market and was planning to buy a house, would it be a good idea to “lock-in” a ~5% rate of return (the cost of the mtg) by opting out of a loan. Especially considering MM accounts and short term CDs are paying much less.

If there was a big spike in inflation and interest rates were to jump like they did in the early 80s, I suppose it might be better for them to have the low rate mtg and earn the higher interest.

By: Revelations

Revelations — Wed, 06 May 2009 05:01:33 +0000

Thanks for your input, kettle.

So, you’d take the monthly outflow of interest payments (i.e. 5%) and invest the rest in a currency alternative commodity hoping to outperform this rate? (tax implications included)

This is based on speculation that gold will outpace home appreciation or FDIC account interest rates, right? Or rather, that gold will maintain its value whilst the dollar and its denominated assets (house) devalue against it? It’s a gamble no?

By: kettle1

kettle1 — Wed, 06 May 2009 04:45:06 +0000

Rev,

bare minimum, 3% FHA and buy shiny with the rest. The home is a non recourse loan, so worst case scenario i get to live rent free for 1+ yrs and end up with a hit to my credit while still having a serious chunk of change put away and happily avoiding the Fcuking that fiat currencies are currently and will continue to recieve.

By: mkfinancial

mkfinancial — Wed, 06 May 2009 04:28:17 +0000

John #268

I had Mockler as well. He was a good man. Tough as hell but I never had a better professor. Made you think and I learned a lot from him.

Shame about Bent

By: Revelations

Revelations — Wed, 06 May 2009 04:25:37 +0000

Just have one last question for the board, and then I won’t trouble with any more late night spamming..

Hypothetically, IF you had enough cash on hand to buy a house outright, how much would you put down?

20%? 50%? 100%? Why?

Assume home prices under $1M.

By: Clotpoll

Clotpoll — Wed, 06 May 2009 04:18:46 +0000

jcer (294)-

He’s already tapped Carla, now he’s gonna take Corzine’s job.

Make him your byatch, Cory!

“Booker, I cannot believe it???????? He really hasn’t taken an interest in Newark, does he have his eyes on Corzine’s seat?”

By: cobbler

cobbler — Wed, 06 May 2009 04:18:12 +0000

[south orange]
Lively downtown; overall crime level transitional between Irvington and Maplewood, matching geography. HS: Columbia High shared with Maplewood; fairly decent SAT, etc. score-wise but very stratified by the ethnic lines and not quite safe. Check NYT archives – the Times had some articles on this school a couple of years ago.

By: Clotpoll

Clotpoll — Wed, 06 May 2009 04:16:00 +0000

sean (286)-

Anyone who audits the Fed needs to wear a hazmat suit.

By: Revelations

Revelations — Wed, 06 May 2009 04:11:04 +0000

I like this site. I’m also generally an amiable person, and there are very few things that get under my skin.

A moderation system that censors harmless comments and insights, but allows misspelled vulgarities, racial slurs, and other debasing language is utterly ridiculous. It’s not just an inconvenience; it’s a hindrance to the free flow of ideas.

Aw, fcuk it.

By: kettle1

kettle1 — Wed, 06 May 2009 04:07:47 +0000

SAS

still here,

whats up?

By: Revelations

Revelations — Wed, 06 May 2009 03:57:56 +0000

#379
I vote 2. It’s one of my “must go” destinations before dying.