Shore homes hit by foreclosures

From the Press of Atlantic City:

Data show many shore foreclosures on second homes

Southern New Jersey hasn’t been spared from the wave of foreclosures in the U.S.

But the character of foreclosures might be a little different here compared with those elsewhere because a significant number of properties are second homes.

Anecdotal evidence suggests second homes make up a significant part of the foreclosures along the shore, where barrier islands are mostly covered with housing that’s not occupied year-round.

In a way, a foreclosure on second home is less distressing, since it usually means someone well-off is losing an investment, vacation or retirement property, rather than someone losing their primary residence. But there was no way to put a number on how many foreclosures might be in that non-primary market.

Sure enough, RealtyTrac’s figures show an unusually large percentage of owner-absent properties among shore homes with a foreclosure filing.

In Atlantic and Cape May counties, 36 percent of properties in foreclosure last month were owned by people living elsewhere.

31 percent, and Ocean County, with 20 percent, fit the national pattern of about 30 percent of owners of foreclosed homes living elsewhere, RealtyTrac said.

Given the dominance of second homes, and the paucity of year-round rentals, my guess is that one-fifth to one-third of the foreclosures in Atlantic and Cape May counties are second homes.

RealtyTrac began delving into the number of foreclosures of rental properties because renters can be caught off guard and dispossessed by a foreclosure in many states, according to Daren Blomquist, spokesman for RealtyTrac.

“They could get an eviction without much notice. … They possibly could lose their security deposit,” Blomquist said. “They may have no knowledge of the foreclosure until they get a knock on the door.”

This entry was posted in Economics, Housing Bubble, Shore Real Estate. Bookmark the permalink.

242 Responses to Shore homes hit by foreclosures

  1. NJGator says:


  2. NJGator says:

    Now here’s a listing description that makes you want to run out and BUY NOW…

    GSMLS 2681466 192 FERNWOOD
    “Dignified UM colonial on premier block requires complete renovation & sold completely “as is.” Buyers advised to bring inspector in before making an offer. Non-contingent offers preferred! Located just blocks from UM Village shops & Midtown Direct trains. Exterior needs new roof & fresh paint plus some repairs. Second fl baths have mold condition requiring remediation, full gutting & renovation. Interior walls & ceilings need repair & fresh paint. Kitchen requires complete updating. Garage still functional but in unstable structural shape. Underground oil tank being tested. Create your dream home from scratch!”

    Tax Assessed: $733,000
    Annual Taxes: $16,866
    LP: $455,000

  3. safeashouses says:

    #2 NJGator,

    They should describe it as “A house only a bulldozer could love”

  4. NJGator says:

    Safe – I would like to know what exactly is ‘dignified’ about moldy bathrooms and a structurally unsound garage.

  5. 3b says:

    #2 Create your dream home from scratch!”

    I love it. Yeah creatw it from scratch, and it is going to cost alot of scratch.

  6. freedy says:

    a 2 billion credit line for corzine and NJ. nice

  7. Shore Guy says:

    The article is interesting but, without stats on the percentage of homes in the region that are second/vacation homes, largely meaningless. If 10% of the homes are second homes, the fact that 30% are going back to the bank would indicate one thing, whereas if 50% are seconds then a 30% FK rate indicates something else.

  8. grim says:

    From the Record:

    Divorce meltdown

    Peter Triantafillou had the life. A wife and two kids in Ramsey. A job as a trader earning $300,000 a year. That was 2006.

    Since then, he got a divorce and, as part of the settlement, agreed to pay $5,000 a month in child support. It seemed like a reasonable amount, when he was making six figures. But after last year’s divorce settlement, he was laid off twice. Though now employed again, he makes a far cry from what he used to — $60,000 a year, he says. That’s just enough to cover his support payments, with nothing left over.

    In a recent survey of the American Academy of Matrimonial Lawyers of Chicago, 39 percent of the nation’s top divorce attorneys cite an increase in modifications being made to child support payments since the economic downturn began. Additionally, 42 percent of the members report a rise in the number of changes made to alimony payments.

  9. Shore Guy says:


    It dounds like a lightning strike would greatly improve the place.

  10. playahata says:

    They will shore miss their homes, HA HA>

  11. kettle1 says:

    Posted last night but messed up the link:

    a Kettle1 and Veto, Case-Shiller NY Metro projection. Just 1 of several scenario’s Veto and I have discussed.

  12. SG says:

    Great chart Kettle1 and Veto.

    I think I posted yesterday based on simple calculation that Bottoming will start in 2011 at the earliest.

  13. Stu says:

    The 200 DMA on the major indexes is looking equally as impenetrable as bi’s skull.

  14. Stu says:

    I agree it is a great chart Ket and Veto. But where are the stickmen?

  15. veto that says:

    SG & Stu: “Great chart Kettle1 and Veto.”

    Thanks. Kettle is more pessimistic about future NY metro prices than i. Our collaborated projections tend to balance eachother’s predictions but im not sure thats a good thing either, as i hope his predictions are more accurate so that I could buy my first home with a 42 cent stamp and cookie.

    Kettle, nice format, i like the two charts stretched wide, sitting on top of eachother like that. Lets include a chart, showing our two prediction lines through 2015. Well call mine ‘rose colored glasses’ and yours ‘apocylpse now’. ha.

  16. Alap says:

    From Friday:

    Can anyone provide any info on 278 Pinelli Drive in Piscataway. I never saw this listed, however it just sold for $230k. Previous sale was for $302k in 4/07.

    Anyway to find out if this was a foreclosure or what not?

  17. 3b says:

    OT question. I had a family member a few days ago involved in a fairly minor car accident, nobody hurt (thank God). Here is the problem. They have insurance. The wife who does not drive often, was driving, unfortunatley, she let her license expire, and she was given a ticket, and will be fined acccordingly. The Polcie report indicates the other driver was at fault.

    Their question is will their insurance company honor the claim since the person driving was unlicensed? And if so will the insurance company than drop them? I do nto know the answer to either of these questions.

    Good people, dumb mistake, trying to offer them some guidance, before they proceed with the insurance route.

  18. NJGator says:

    Can someone with GSMLS access please confirm that this is accurate?

    GSMLS 2649642 – 7 Edgewood – This is a short sale currently listed at $550k. Listing shows a LD of 2/13/09 and an OLP of $439k. Has the LP actually been increased $111k after sitting on the market for almost 3 months?

    Do the local realtors think the coming Trader Joe’s (will be located at the site of the old Whole Foods) will increase property values that much?

    BTW, this beauty last sold in Oct 2006 for $620k.

  19. Hey You says:

    #16 3b
    This is real estate blog…

    Looking for guidance tell your friend to put his/her head in gear before putting the car in gear.

  20. chicagofinance says:

    veto that says:
    May 11, 2009 at 9:12 am
    Thanks. Kettle is more pessimistic about future NY metro prices than i.

    veto: you’re fcuking sh!tting me?!

  21. veto that says:

    Good wsj article about Ford:

    They took no bailout money and didnt erase any of their debt through bankruptcy but in the end, they may be the ones punished because all their debt will be remaining while GM emerges leaner and debt free. The whole point of the article is that the guvt punishes the good while rewarding the foolish.
    No different than sub prime mortgage borrowers getting hand outs while prime borrowers pay every penny of their mortgages and then get a tax increase to pay for the bailouts anyway.

  22. zieba says:


    Looks like another high tension day.

  23. Secondary Market says:

    i just tried to talk my friends parents out of buying a house in seal isle city. they didn’t listen and just paid 2.4mm for a house they plan to bulldoze. best part is they are letting the sellers stay in the home through the summer and not close until november. it’ll be interesting to see if appraisals hold up.

  24. Seneca says:

    Longs can be wrong!

    Dilution Monday!

    That which goes up, must come down!

    … we don’t need no more stinkin money, but since we are here, howz about a stock offering?{6FDE22B7-246F-4526-8B1C-5FFA69A71831}&siteid=yhoof

  25. veto that says:

    you’re fcuking sh!tting me?!

    Chi, i sense some sarcasm. dont know if you’re refering to my over optism or his over pessimism.

  26. 3b says:

    #18 hey you: I have been on this blog almost sicne the begining, and I think on occasiion I can ask an OT question.

    There are alot of knowledgeable people on this site, who might offer some guidance.

    Now you can go back to sleep.

  27. kettle1 says:

    Re projections.

    Veto and I and slowly working towards a Best/Median/Worst case set of projections, with each based on a differing set of parameters.

    This should address some issues in regards to debate over to rosy or to doomy. stay tuned.

    Another note on the debate taking place over the weekend in regards to how to adjust the data. I have tried a number of CPI methods to adjust the data and they all produce very similar results. The only one that has really stood out so far is trying to adjust with HAI. This produces something that is laughably optimistic when you actually look at the state of the market. This effect seems to be due primarily to interest rates being a dominant variable in HAI calculations and the fact that we are at historically low interest rates.

  28. playahata says:

    veto is a bsd bond trader, what does he even care about RE?

  29. Cindy says:

    Trying to follow the mobile space post from last night I did some checking regarding ATT’s connection with IPhones being up in 2010.

    Your article said Verizon needs to add cell towers but they might be posed to step in come 2010 with LTE 4G. Verizon has better reception and more customers than ATT. The Long Term Evolution (LTE) is cutting edge from what I read.

    There was talk in a few articles I read about leaving microsoft in the dust as mobile space gets the upper hand.

    I also read an article on Prezi – out of Hungary – that is a much cleaner presentation model than Power Point giving Microsoft a run for their money in that space.

    So does Verizon get a jump on ATT come 2010? None of the articles would say.

    But I had a lot of fun checking into article on mobile broadband.

  30. Cindy says:

    I found this inflation calculator – loads of fun.

    Put my home in at 115K in 1999 – 2009
    presto – 151K. I hope it works…

  31. Cindy says:

    It’s called Tom’s Inflation Calculator.

  32. Alap says:

    Grim – 16 in mod.

  33. zieba says:


    The major difference between Verizon and the other providers is that Verizon fully embraces the “pay to play” model. It is company policy to disable features available on handsets only to have that functionality be re-enabled after signing up for an addition to your monthly plan. GPS and WiFi are just two examples. You’ll find them free on handset X from ATT or Tmobile, whereas that same handset from Verizon will have those features disabled. Either permanently or until the customer coughs up an extra fee only to have that functionality ported through Verizon’s proprietary interface.

    I didn’t read yesterdays article but something to keep in mind going forward. Verizon likes to keep a tight grip on your bollocks and many are choosing the alternative. Mobile reception is not an issue for me as I have my Blackberry linked to my home wifi router and calls are crystal clear.

    Not a phone buff, just a really fed up ex-customer of 9 years.
    /end rant

  34. veto that says:

    veto is a bsd bond trader, what does he even care about RE?

    as my 75 yr old macroeconomics teacher once told the class idiot, ‘your statements are 180 degrees from the being correct’.

  35. zieba says:

    It will be interesting to see how they handle the issue of “empowering the user”.

    Verizon overhauls the user interface of every handset it puts out on the market with that familiar red/black/grey/white look and cripples features which can be made to generate additional revenues.

    Certainly, Apple will dictate the terms here, but the two companies and their respective offerings stand for two very different things.

    OK, back to RE.

  36. Clotpoll says:

    Nothing like a little Monday AM Mish:

    Keynesian Nonsense

    “In contrast to what Keynesian clowns believe, there is no recovery, only another artificial boom, and a mini-boom at that. Printing money can “stimulate” (using the word incorrectly), only as long as the spending continues.

    Easy money and unwarranted stimulus created the global housing bubble. Now Keynesian clowns think it will do something productive. It can’t, therefore it wont.

    In regards with China, there is massive overcapacity already. US consumers are still retrenching. Adding to China’s productive capacity is exactly the wrong thing to do at this stage. The export model is dead. The Shopping Center Economic Model Is History as well. Thus “stimulus” (here and in China) is guaranteed to fail, leaving still more overcapacity when it does.

    Green shoots are a Keynesian mirage.”

  37. grim says:

    From Reuters:

    Krugman fears lost decade for US due to half-steps

    The United States risks a Japan-style lost decade of growth if it does not take aggressive action to stimulate its economy and clean up its banking system, Nobel Prize-winning economist Paul Krugman said on Monday.

    “We’re doing half-measures that help the economy limp along without fully recovering, and we’re having measures that help the banks survive without really thriving,” Krugman said.

    “We’re doing what the Japanese did in the nineties,” he told a small group of reporters during a visit to Beijing.

  38. Cindy says:

    Zieba – I was just having fun checking around. It does make you think about the big picture re PDAs in general.

    Folks want to play games,access the web, email, take video, a picture, text and oh yeah- talk on a phone.

    Have a great day all.

  39. Stu says:

    OT, but I know there are many camera buffs here. Recently purchased a refurbed Nikon D90 body only. I’m looking to acquire the whizbang Nikkor 18-200mm do it all 4-step VR reduction lense but can’t find it anywhere used at a price to make it worthwhile. Anyone here know of any reliable outfits that sell used equipment besides KEH, and ebay.
    Best I could find was $670 at B&H new (import) and about $600 used at Ebay. Any other ideas?

  40. freedy says:

    the thief who runs nj pensions on
    bloom , guy should be in jail

  41. Mikeinwaiting says:

    3b 16 I can tell you this lawyer up. They will take her out to the wood shed driving without a lic. Expired may help, good record etc, a lawyer can help with that. As far as ins. covering I think yes but they may drop or raise big time & where ever you ins. you will pay more.
    I’m sure some of the resident lawyers know more but this how it goes as far as I know.
    Hey You 18, relax.

  42. Escape From NJ says:


    The insurance should cover the car not the driver. However if the owner allows access and use to an unlicensed driver, the claim could be denied. They will have to check the policy. The carrier could also drop them if the wife was listed as an operator of the vehicle and knowingly did not have a valid license.
    If the other driver was at fault, any claim for property damage should be made against the other driver’s carrier. PIP claims would be made through one’s own carrier. Either way she is going to eat the ticket, no defense. Tell her to get a license ASAP, even if she only drives once a year. They may want to speak with an attorney about this situation if the other driver makes a claim and their carrier drops them. Good luck.

  43. 3b says:

    #44 Mike: Thanks. I did not think it would be good. They know it was a stupid mistake.

    I told them that even if they do not report it to the insurance co.

    I believe the police report will notify the insurance company, that an unlicensed driver was driving the car.

  44. Traitor nom deplume says:

    [24] 2ndary


    Do your friend’s parents want a house in Brigadoon? If so, send them my way. Got a lovely house for them and I will ask only half (1.2MM) of the Seal Isle place.

    And I will even let them move in early.

  45. 3b says:

    #45 Escape: The wife was not listed as an operator of the vehicle, and the police report indicates that the other driver was at fault,and was issued a ticket for unsafe driving (bald tires).

    They have already started to addrees the license siuation,and the wife just got her permit, the day after the acccident.

    Their question now is should they or should they not contact the insurance company? I think the insuracne company will find out about the no license, because of the police report.

    They do not know if the other driver at this point will submit a claim, he was driving a 20 year old junker with bald tires.

    Thanks for your help.

  46. Stu says:

    “They do not know if the other driver at this point will submit a claim, he was driving a 20 year old junker with bald tires.”

    Could it have been John on his rent collection run?

  47. RU says:

    3b: If the other driver was at fault and the other driver is not contesting it, contact their insurance company to get the ball rolling on the accident. I would report the accident to your insurance company and they may request a copy of the police report. Look over the report and see if it states anything about an expired license. The second thing, have the wife get her license updated ASAP. If it was only expired a couple of days, go to court and talk with the town prosecutor and he/she may knock it down to another offense. It’s worth a shot. If she just pays the ticket than it will be reported to the insurance company and rates may/will increase.

  48. PGC says:

    I was in Trader Joes in Brigadoon on Saturday. That was a Fugly shopping experience. The store is far to small and badly layed out of the traffic volumes.

  49. John says:

    As per the FAA, a military plane will fly down and back up the Hudson River between the hours of 10:30 to 11:30 am today.

  50. John says:

    If you have an accident you have to prove 100% it is not your fault for your rates to not go up. When the lady t-boned me insurance called it 70% my fault. All that ment was my insurance company paid only 70% of repair on her vehicle and her insurance company only paid 30% of my claim.

    Best bet if guy does not report accident and you need your car fixed given the circumstances it there was no police report is to claim you parket car and someone hit it.

    Also by law you do not have to stick around after an accident if there is no injury. You still have to stop and excange information however. In the case of an expired license the driver should just give out his extra insurance ID card and keep going.

  51. 3b says:

    #52 John: It was just canceled.

  52. chicagofinance says:

    veto: nothing worse than being cheap, lazy, and being presumptive of the naivete of others….

  53. 3b says:

    #50 RU: thanks I am going to call him now, and tell him to get the process started.

  54. RU says:

    3b: no problem. A lot of the larger insurance companies have autobody shops that they normally work with. Once you call the other insurance company, they’ll ask for the name of the party that they insure. He/she may have already notified their insurance company (this helps). The insurance company will tell you their procedures to get it fixed. I have found that this speeds up the process rather than waiting for them to contact you. I have done this before with company cars as have others that I work with.

  55. #42 – Stu – anyone here know of any reliable outfits that sell used equipment besides KEH, and ebay

    – Midwest Photo Exchange @
    – Adorama @ – They also sell a lot on ebay and are generally reputable.

    The 18-200 is going to be within the same range at most places. It is, at the consumer level, the desirable “do everything” lens. They used to regularly go for the $900+ range not too long ago.

  56. veto that says:

    chi, belligerence really does suit you but your posts are much more eloquent when littered with profanity.

  57. Shore Guy says:


    Was it you who recomended the Martin guitar over the Tak?

  58. Secondary Market says:

    @47 Nom. Even better – the house was built and sold in 2000 for 400k. And they still think they got a deal. I won’t go into detail but my buddy’s Dad (buyer) is a sports radio personality in Philly.

  59. Clotpoll says:

    Mikey’s not dead yet:

    Friday, May 8, 2009

    Moving Forward in this Market Environment

    “I’ve had many requests to not kill off the weekly client conference calls and updates. In fact, new renewals doubled, since I announced the cancellation of services. Unfortunately, this market is beyond irrational. It is now criminal. There is nothing we can do when regulators allow the corruption we have seen. Here are just two examples:

    1 – Stephen Friedman, former CEO of Goldman Sachs and most recently the Chairman of the New York Fed, was allowed to own, buy and trade Goldman Sachs stock while overseeing Goldman Sachs banking issues in New York State and the AIG bailout dollars that flowed to Goldman Sachs and to basically run his own little mafia style racketeering organization. In fact, Friedman, his family and friends made millions on his own personal crime family. This is the guy that hand picked Tim the Tax Cheat, and this is the guy that made sure Tim the Tax Cheat replaced Paulson . . . another Goldman Sachs bankster. So where is Andrew Cuomo? Hiding. And where is AG Eric Holder? Well he works for Goldman Sachs . . . indirectly, so he’s not going to say a word. And where is the SEC? Goldman runs the SEC, full stop, period, end of discussion.

    2 – Ken Lewis accuses Paulson and Bernanke of mafia tactics. He does this under oath. Bernanke, also under oath, tells Congress that Lewis is a liar. Two men under oath calling the other a perjurer, yet no one investigates. No one even questions this.

    In any event, no matter how much I know or read or can discuss, the markets are beyond irrational. These markets are 1940’s style casinos, where they are rigged, and unless you are very lucky or on the inside, you are going to get crushed. Capital One is a perfect example. The stock moves up 75% in a week, even though they have told us they are only prepared to deal with 8.5% unemployment through the end of the year. We are already passed that point. BUT . . . Goldman Sachs said BUY, so the stock moves higher, crushing shorts to buy more. And the regulators are only concerned about the uptick rule, when the real crime is front running, as Goldman Sachs just did with COF and hundreds of other stocks over the past two months. In fact, Goldman Sachs has issued more BUY recommendations over the past two months than any other company on the face of the earth, and far more than they traditionally issue.

    I will continue to offer a monthly conference call to the general public. I will also continue to write a detailed piece once a month. That is the best I can offer right now.”

  60. make money says:

    Classic Pump and Dump exposed…

  61. Stu says:

    Thanks Tosh (58).

  62. kettle1 says:


    Updated that chart for you:

    CS NY Metro Projection (Update)


    this might be front page material ;)

  63. zieba says:

    The aperture on the Nikkor is not constant and first stop is at 3.5 going to 5.6. Are you really against carrying two lenses? I think you’ll find yourself in the 18-60 range most often and having a 2.8f constant jack-of-all-trades lens has its advantages. You may want the 2.8 for bokeh and also for low light situations where you may not want to nuke everyone with a flash.

  64. Stu says:

    The skiing stickman is a new classic!

  65. zieba says:

    and oh, I have done well meeting sellers face to face on Craigslist, mounting their lens to the body I brought with me, taking a few test shots and handing over cash. I snagged a like new Tokina 12-24 that way for $300. Recently, I picked up my walk around lens via ebay; a Sigma 24-60 2.8f for $220.

  66. Traitor nom deplume says:

    [61] 2ndary

    Now I am really sad I did not know them when I was selling my place in Philly. Could have added a couple 100K to the asking.

  67. Traitor nom deplume says:

    [65] Kettle

    I thought the Fed used a helicopter????

    Or are they looking for a better bomb dispersal pattern now?

  68. kettle1 says:


    A trillion $ doesnt fit into a helicopter. Ben had to borrow a B52 for this run.

  69. veto that says:

    kettle, ha, love it.
    cant tell if thats money or bunker busters that the fed is dropping from the fighter jet? but i guess we’ll find out in future charts.

  70. kettle1 says:

    physical size of 1 trillion $. notice the person to the left of the stack for comparison

  71. Sean says:

    nice Job Ket and Veto.

  72. Escape From NJ says:

    Shore (60),


  73. Stu says:

    Zieba (66),

    I really am adverse to carrying around two lenses although your advice is sound. I used a similar lense to the 18-200mm with the Rebel XT and it was more than sufficient for my limited amateur photography pursuits. I know it seems crazy to own a $1400 or so outfit to mostly snap family portrait type photos, but the difference in quality (as you already know) from a point and shoot is invaluable.

  74. veto that says:

    sean, unfortunately cant accept any credit for these artistic interpretations of our charts. i could never draw that well anyway. good stuff though.

  75. Escape From NJ says:

    Clot and Grim,

    My wife went house crazy again and a I need a buyer’s agent to speak with who handles Mercer County. I do not know if this is your territory or if you can suggest a Mercer County realtor who will not blow smoke up my arse or feed the wife’s frenzy. Thanks for your input. Grim you should have my personal e-mail.

  76. traveljerk123 says:

    present – 77 = first

  77. zieba says:

    I looked that the lens you mentioned…they fit a lot in a fairly compact package. I thought it was bigger.

    FYI: I just learned the other day that Canon upped the XSi line with the XT1 wich is 15MP, more focus points and shoots full HD video.

    I hope you back those photos up. I recently purchased a RAID1 2 X 1TB network storage box, net accessible and assigned with the task of protecting years of photography.

  78. make money says:

    My wife went house crazy again and a I need a buyer’s agent to speak with who handles Mercer County.

    Go on expedia and book a get away. It’s cheaper. When you come back hope that that house is under contract.

  79. #76 – I know it seems crazy to own a $1400 or so outfit to mostly snap family portrait type photos

    This isn’t too uncommon at all, hence the advent of the 18-200 range of lens’.
    I believe Tamron also has a 18-270(!). I don’t recall the price so it may be a bit more expensive.

  80. Sean says:

    Merrill’s Rosenberg quit, called it a Sucker’s Rally on the way out the door.

    Wonder if Ken Lewis did not like his gloomy reports.

  81. traveljerk123 says:

    lunchtime read;

    Who wants to be a kid in America…in this economy?
    by Ben Velderman

    This is the spring of 2009. Most Friday nights I can be found playing “Rock Band” in my friend Dan’s living room. His wife is our lead vocalist, while Dan handles lead guitar duties; I commandeer the drum set. The three of us are lined up in front of the television, singing and playing along with the game, while their five kids play around our feet. Between the loud music, the instruments and the kids, the already-cramped living room becomes a scene of joyful chaos. (At least until one of the kids trips over the microphone cord, putting a quick end to the joyful part.)

  82. Secondary Market says:

    how does the group feel about seller held financing?
    i’ve been searching land for some time here in philly and a new lot came on the market about a month ago. this is by far the most attractive lot based on it’s location and i’m friendly with the seller.
    he had plans drafted and approved by zoning so some of the leg work has been done in terms of figuring out if the lot is buildable. however, like most r.e. his asking price is on the high side. i do think he is flexible since he just wants to liquidate and move to his home in new mexico but mentioned he’d be willing to hold a balloon mortgage for the right price and person. obviously, the terms are the big question but as attractive as dealing with a non arms length transaction is, i feel i’d lose all my negotiating power and get stuck w/ the higher price. which is what i want to avoid.

  83. goonsquad says:

    Does anyone know if Redfin plans to cover NJ anytime in the near future?

    Sorry if this has been answered before. I’m relatively new here.

  84. Stu says:


    The Nikon D90 also records hi def video at 24 fps. One of the major reasons we splurged over purchasing a used D60. The 11 focus points can’t hurt either ;)

    As for backing up all of this digital media, I occasionally burn a DVD of the important shots.

  85. Clotpoll says:

    Escape (78)-

    I told Grim he can give you my contacts, if you want.

  86. traveljerk123 says:

    Nikon D40’s been discontinued, however, its available through many online dealers. Hows your take on the D40? Is it a good buy now? My budget is under 500 for a DSLR. Plz lemme know..

  87. skep-tic says:

    this is a shocking statement in today’s WSJ:

    “The White House’s role in restructuring Chrysler has sent a shudder through the community of lawyers and lenders in the field of bankruptcy and corporate workouts. Critics complain that the administration has violated a bedrock principle of American capitalism and unfairly demonized financial firms that are vital to the functioning of the economy and its eventual recovery.

    Administration officials reply that the Chrysler crisis required bold action. While Chrysler’s suppliers, dealers and unionized workers are critical to its survival — and so is Fiat, which will contribute high-efficiency engines and foreign distribution — the creditors were expendable.

    “You don’t need banks and bondholders to make cars,” said one administration official.”

  88. confused in nj says:

    Merrill’s Rosenberg: Goodbye, Thank You, Yes It’s Just a Sucker’s Rally

  89. zieba says:

    The problem with this rally is that everyone expects a pullback. Some have even gone as far as to call the day on which this will occur.

    It is because of this that I am even more concerned than I was two weeks ago.

  90. Clotpoll says:

    chi (89)-

    Dime to a dollar, that guy’s got an Actor’s Equity card. :)

  91. Clotpoll says:

    skep (91)-

    The O gang is a bunch of neo-Fascists…and they don’t even know it.

  92. #90 – As an entry level DSLR the D40 is hard to beat. It is very small, light and capable. The D40x, which has a 10.2MP sensor, goes for under $300 at KEH for EX+ quality. The regular D40, with a 6.1MP sensor, will go for around the same.
    – Auto focus only works with AFS series lenses. Otherwise you have to manually focus the lens.
    – Matrix metering on the D40 (not sure on the D40x) can be erratic.
    – Auto white balance – Never use it, set it manually.


  93. Stu says:


    That picture of Grim was missing a little something.

  94. Clotpoll says:

    z (93)-

    I hope the retards buying into this sucker rally sky it to the moon.

    I have a list of crap stocks- priced at valuations that are just plain silly- that I cannot wait to get short.

    Unfortunately, I think the rally is just beginning to turn over.

  95. Clotpoll says:

    Stu (97)-

    It’s come to this? Stick people and drawn-in chest hair?

    We really do need another crisis to focus our minds. It’s like we’ve run out of stuff to talk about.

  96. #90 – As an entry level DSLR the D40 is hard to beat. It is very small, light and capable. The D40x, which has a 10.2MP sensor, goes for under $300 at KEH for EX+ quality. The regular D40, with a 6.1MP sensor, will go for around the same.
    – Auto focus only works with AFS series lenses. Otherwise you have to manually focus the lens.
    – Matrix metering on the D40 (not sure on the D40x) can be erratic.
    – Auto white balance – Never use it, set it manually.

    – Both have decent sensors with a good usable ISO range. These aren’t as capable as newer models, but that should be assumed.
    – Light and cheap
    – On the regular D40, flash sync at any speed in manual mode. I’ve gotten up to 2000/sec sync speeds using CyberSyncs off camera.
    – You can use almost any Nikon lens made. You’ll have to manually focus anything non-AFS but that is a metric butt load of lenses. There are a few very old lenses that require mirror lock-up that you can’t use (e.g. the Nikkor 8mm fish-eye) but you will most likely never encounter one of these lenses in real life.

  97. Wow, a truncated double post. How odd.

  98. Stu says:


    You know how these things work. Max pain occurs when one least expects it.

  99. Clotpoll says:

    Stu (102)-

    I usually find that stabbing myself in the face with a pencil pretty mcuh delivers a very-expected jolt of max pain.

  100. still_looking says:

    chifi, 89

    WHAT???!!! No chest hair???!!!

    C’mon, I need some recreational material!

    Holdin’ out on us??


  101. Nicholas says:

    Just ran the April numbers for 20715 (a suburb of DC I consider indicative of many other communities)

    Home prices are up just slightly but the sample size remains small (high margine of error in a small number of sales)

    One of the most interesting things to note is that there were 17 sales but only one was a conventional loan.

    17 sales:

    1 Conventional
    9 FHA
    3 VA
    3 Assumption
    1 Cash

    I think that this means that there is a lot more pain comming down the road for housing in the next year. All is not well with the lending industry.

  102. still_looking says:

    Stu, 97

    That’s not the chest hair that makes me feel all funny in my pants!



  103. 3b says:

    #92 skeptic: Slightly OT, but connected to your post.

    I was was browsing through Consumer Reports this weekend.

    Every new Chrysler/Dodge/Jeep ranked last or near last in all categories. I just do not see how this compamy will survive.

  104. John says:

    In no particular order, 80’s songs I thought were cool, big shout out to CHI FI as Depache Mode is in the list a lot.

    BAD – U2
    DON’T GO – YAZ

  105. RU says:

    The wonderful state of NJ out of control again:

    You can go back to work, N.J. top court tells teacher after 20 years of disability leave
    by The Associated Press
    Monday May 11, 2009, 11:03 AM
    TRENTON, — A central New Jersey elementary school teacher can have her job back more than 20 years after going on disability leave.

    The state Supreme Court ruled today that the Manalapan-Englishtown School District must rehire Charlotte Klumb. Klumb was hired by the district in 1968 but took several leaves of absence to get treatment for alcoholism and mental health issues and was put on voluntary leave without pay in 1988.

    New Jersey Supreme Court Chief Justice Stuart Rabner speaks as Justices Virginia Long, left, and Jaynee LaVecchia, right, listen Nov. 17, 2008, in Trenton.
    In 1998, a state teachers’ association ruled Klumb was able to perform her duties again and ordered the district to rehire her. The district refused, leading to a lengthy appeals process.

    The Supreme Court did not rule on whether Klumb is owed back pay by the district.

  106. still_looking says:

    RU 109,

    As always, it’s for the children.

    (Gawd help us.)


  107. still_looking says:

    Anyone want my job?

    Drunk patient comes in…. missing less teeth than IQ points, but what the heck.

    Needs suturing. Wifey (also apparently snockered, and owns even less teeth) is attempting to convince him to stay.

    He shoves her hard, knocking her backward.

    I call security, admonish the patient [unacceptable behavior, etc] and start setting up to suture.

    Rest of family (daughter, etc) complain to security that I was RUDE.

    Gotta love it. The rest of the stories are too wretched to post here.


  108. zieba says:


    All that and malpractice premiums.

    Where do I sign up?

  109. Sean says:

    Yowza, It’s official. The fiscal deficit will exceed 10%

    White House: Budget deficit to top $1.8 trillion, 4 times 2008’s record

    WASHINGTON (AP) — With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.

    The deficit for the current budget year will rise by $89 billion to above $1.8 trillion — about four times the record set just last year. The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of President Barack Obama’s economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in.

  110. Escape From NJ says:

    Clot (88)


  111. Clotpoll says:

    sean (113)-

    Hey, what a great idea! Cure the problems of overborrowing with even greater amounts of borrowing.

    I guess by the same rationale, dr@g addiction isn’t a problem…as long as you can get dr@gs.

  112. John says:

    Bond of Day CHI FI – CHOW DOWN

    AMBAC FINL GROUP INC DEB 9.37500% 08/01/2011
    Price (Ask) 62.000
    Yield to Worst (Ask) 35.511%

  113. freedy says:


    have a history on mls 291 9651

  114. Clotpoll says:

    John (116)-

    You could really buy a pile of this sludge?

    The contrarian bank thing was a great play…but Ambac? I fail to see it.

  115. John says:

    I am not buying AMBAC at 62, I did buy MBIA at a lot less. Something strange going on at AMBAC today, stock is up 20% and bonds are up zero%. Either stock is moving for no reason or bonds are soon to follow. Don’t know which way. I only roll dice on cheap bonds. If I knew a little more I might buy it but Chi Fi knows better. I know Ambac lost less than expected by that is not a 20% move.

  116. Traitor nom deplume says:

    Treasury “green book” out today with explanations of the O’drama tax proposals, including a lot of what MSM doesn’t report (because it is not good for most MSM readers).

    Aside from the soak the rich (in reality, soak the upper middle class) proposals that we have heard about, there are others we haven’t heard so much about (so much for the “only raising rates to Clinton era” argument), which include eliminating deductions and exemptions, and closing off life insurance and estate planning techniques. Thus, the soaking that anyone earning over 200K receives is much more than what is reported in MSM.

    Here are some of the other losers in this report:

    Domestic oil and gas industry
    Life insurance industry
    Small Businesses
    Small landlords

    Now for the unintended winners and losers:

    Winners: Small business that cheat. The provisions affecting small businesses set up an interesting dynamic as they will make it harder for small businesses in any cash or predominantly-cash business to compete with under-the-table businesses (whose taxes and reporting burdens don’t go up).

    Losers: Energy consumers. The provisions affecting oil and gas industry means that prices go up, both from taxes on existing production, and from loss of production when some production is shut down as cost-prohibitive.

  117. Stu says:

    Come on John.

    Ambac is down from 100 to $1.91. Stock will move by 20% or more if the wind blows.

    Ambac lost $1.36 per share in the quarter that ended March 31. That compares to a loss of $1.66 billion, or $11.69 per share, a year earlier. Their market cap is down to 500 million. Another quarter at -11.69 eps and AMBAC would have been buried next to one of your favorite veggies.

  118. HEHEHE says:


    Stanford ‘was informant for US anti-drug agents’

    Authorities accused of turning a blind eye to financier’s banking business

  119. John says:

    worse part of plan is he wants to limit the mortgage deduction for the over 200K crowd. Talk about kicking BC high priced homes in a down market

  120. Stu says:

    “worse part of plan is he wants to limit the mortgage deduction for the over 200K crowd.”

    I though most in that crowd lose it anyway due to AMT.

  121. John says:

    That’s it, I am putting that bond on my watch list. I bet it matures at par, trouble is that is too long a shot to bet on.

    Stu says:
    May 11, 2009 at 2:04 pm
    Come on John.

    Ambac is down from 100 to $1.91. Stock will move by 20% or more if the wind blows.

    Ambac lost $1.36 per share in the quarter that ended March 31. That compares to a loss of $1.66 billion, or $11.69 per share, a year earlier. Their market cap is down to 500 million. Another quarter at -11.69 eps and AMBAC would have been buried next to one of your favorite veggies.

  122. John says:

    The deduction for RE taxes is limited in AMT, not mortgage interest.

    Stu says:
    May 11, 2009 at 2:06 pm
    “worse part of plan is he wants to limit the mortgage deduction for the over 200K crowd.”

    I though most in that crowd lose it anyway due to AMT.

  123. Traitor nom deplume says:

    [111] still

    No. You aren’t paid enough for me to want to go to med school, endure a residency, and then have to put up with B.S. like that.

    Of course, once O-man and the democrats take over medical care, you will be a government worker. That should help.

  124. kettle1 says:


    hypothetically, you could live a more or less normal life while wildly addicted to pharmaceutical grade heroin. Its the OD’ing and garbage that street stuff is made/cut with that really tears you up.

    That would actually be safer then long term conventional pain killer use

  125. Stu says:

    Whoops. Right. Thanks John. Too busy to think today.

  126. kettle1 says:

    a big fan or billy idols “rock the cradle of love’

  127. chicagofinance says:

    For John…..a little nudity and off-key singing by some Austrian morons in the foreground….


  128. zieba says:

    Hahaha….that’s Drier’s crib. That guy had chutzpah!

  129. PGC says:


    Lake Hopatcong is low, angering marina owners, locals

    The lawsuits are starting. This is one big F Up. A lot of people can’t put their docks in and the boat ramps are unusable.

    Three feet may not seem much, but the lake is rocky in areas and that will also shut off big parts of the lake.

  130. Traitor nom deplume says:

    [1] gator,

    Article in CNN that will get your attention. This line made me think of you.

    “Besides, as hard as this may be to see at age 17, life doesn’t really turn on being a Longhorn, Badger, or Gator.”

  131. John says:

    This is even more chutzpah from our friends at AGAPE world the LI Ponzi mastermind.

  132. Clotpoll says:

    vodka (128)-

    That’s a comforting thought. Thank you.

    Looks like US banks will live at least another generation off the meth@done of gubmint cheese. Let’s see how that works out.

    Methinks the banks will be fine…but the rest of us (and our kids) will be living it up Third World-style.

  133. Clotpoll says:

    plume (135)-

    I can assure you that my hatred of Dook is as strong now as when I was 19.

  134. Traitor nom deplume says:

    Credit Card bill likely to pass Senate soon. What does that mean for you?

    Unless you are in the market for a house, and need to worry about your credit score, it may make sense to pick up another credit card. Seriously.

    “Meredith A. Whitney, a prominent banking analyst, expects credit card lenders to cut the lines of credit they extend to borrowers by a total of $2.7 trillion through 2010. That is equivalent to a 57 percent reduction in the credit they made available two years ago at the height of the boom.”

    The article did not say whether this development was related to the legislation, but I am here to tell you that credit cards will be harder to get in the future, and this legislation makes it more likely that credit will retrench quickly. A related article advised against closing credit lines for the same reason–once closed, you may never get them reopened.

    I will likely still dump an annual fee airtravel card, but I may also negotiate (yet another) fee waiver on the same card for my wife, and then get a companion card issued on the account.

    Provided there is no cost, having these lines open is like your own personal bailout. Should you need to declare bankruptcy, and these lines are all maxed out, the O-man will let you skate.

  135. Traitor nom deplume says:

    [138] clot,

    I gather then you are a Tarheel. Not the safest presumption since I find a lot of people who hate Duke.

    In the Deplume household, we went to sometimes competing schools, but we are united in our hatred of BC.

  136. kettle1 says:


    the CBO estimates that the 2006 budget deficit is about 1.6 trillion $ and the combined 09 and 2010 budget deficit is a little over 3 trillion.

    The 2009 budget deficit is largest the every other nations ENTIRE national budget. The US has the largest national budget in the world and Japan is the second largest. Japans 2009 national budget is 1.4 million USD, 88.5 trillion Yen

  137. NJGator says:

    Nom 135 – Thanks. Interesting article. My favorite line was “At Florida, president Bernard Machen worries about a high student-to-faculty ratio and whether his students are challenged in class and learning to think critically. “We have some evidence that our kids are not,” says Machen.”

    And while life doesn’t necessarily turn on bring a Gator, when your other other options are being a Seminole, or worse, it’s still a pretty big setback. :)

  138. Shore Guy says:

    Nom, S-L,

    With the exception of high-priced specialties (and even then I am not so sure), there is little reason for a bright person with people skills to go into medicine. I mention the people skills because a fair number of physicians think they are particularly special because they hold a MD — which, ni offense to anyone intended, really, is mostly a form of mechanic — albeit with a high barrier to entry.

  139. John says:

    Shore guy, so Asians only?

  140. kettle1 says:

    lets try again. stupid tiny keys on blackberry:(


    the CBO estimates that the 2009 budget deficit is about 1.6 trillion $ and the combined 09 and 2010 budget deficit is a little over 3 trillion.

    The 2009 budget deficit is larger then every other nations ENTIRE national budget. The US has the largest national budget in the world and Japan is the second largest. Japans 2009 national budget is 1.4 million USD, 88.5 trillion Yen, compared to the US deficit of 1.6 trillion.

  141. Shore Guy says:


    Regarding credit cards, I have two that came up for reissue within the past 60 days. Both of them have 30-odd thousand credit limits. Since I tend not to use these two for purchases over 20,000, and always pay-off the total outstanding amount each month, I expected both cards to have the limits cut — they stayed the same. I was quite surprised.

    Has anyone else had a similar experience?

  142. NJGator says:

    Shore 143 – My old college roommate told me during her last year of medical school that if she didn’t match into a Neurosurgery residency program that she was going to junk the idea of practicing medicine and just become a Java programmer. She didn’t want to put in the hours required of residency if she couldn’t practice what she really loved.

  143. make money says:

    The Six-Figure Job No One Wants

    One firm has had a six-figure job open for months with no qualified takers.

    What is it, one of those “Deadliest Catch” jobs where you have to risk your life? Does it involve raw sewage? Being shot at? Being shot at in a tank of raw sewage on the high seas?

    No, it’s much worse: real estate.

    A well-established Sydney real-estate firm has been advertising for a sales position for months and it’s not drawing the usual crowd of applicants, the Daily Telegraph reported.

    In fact, a principal at the firm said the position, which can pay up to 250,000 Australian dollars (nearly US$200,000), isn’t drawing any qualified applicants.

    Really? Is unemployment that low in Australia?

    Employment experts said the problem is, it’s a commission-based job and in this economy, people want the stability of a steady salary.

    Ay dunno, mate. Six figyas and the chance to frolick with a wallaby on the beach sounds a lot betta than Wal-Maht to me! Calling All Funny People:

  144. NJGator says:

    RU 109 – The full opinion, in all it’s glory can be found at:

    The teacher is going to get backpay. A whole lot of it.

  145. Stu says:

    Nom, Shore,

    For us, it appears there is no rhyme or reason as to how the banks choose to limit your credit. Gator and I have stellar credit scores and some of our cards were cut, some were canceled for non-use, yet others remain unchanged. Strangely, we asked for a particular BOA card to raise our limit last year (was a low limit reward card), and they refused to. Who knows how they work?

  146. Sean says:

    re: #115 Clot – what is worse is if you remove the accounting tricks, the Fed shows real GDP at $11.8 trillion.

    In terms of “real” GDP the ratio is really 16%

  147. RU says:

    Thanks Gator. Can’t wait to read it.

  148. zieba says:

    I have a longtime Citi card that has a 32.5K limit although I never used more than 5K of it. I have a clean credit score like most here but I would guess to venture that my net worth falls wayyyy short of Shore’s as I am recently out of school w/o real estate. Line is still intact, no one reached out to me to slash or close it.

  149. grim says:

    From the Star Ledger:

    A.C. casinos report monthly revenue decrease of 14 percent

    Atlantic City’s struggles continued in April, with the 11 casinos drawing 14.2 percent less revenue than they had a year ago.

    But in a recession, Atlantic City’s figures represented a tiny glimmer of hope, coming after two consecutive months of record-breaking revenue plunges. In March, the decline was 19.4 percent, the biggest monthly drop in the 31-year history of legalized gambling in the nation’s second-largest casino market.

  150. zieba says:

    If they slash these lines of credit will I be able to walk into my local Best Buy and not see mobs of lower middle class people buying up big ticket items like they are eating through a trust fund?

  151. RU says:

    #150 Gator: I read that she isn’t going to get backpay unless she could explain why it took her three years to file an appeal after not getting the teaching position she interviewed for in 1999. I saw that she started teaching in 1968. I would really love to hear the story behind the lawsuit on this one. Glad I moved out of Manalapan!

  152. NJGator says:

    RU – She won’t get backpay from 1999-2002 unless she can explain why she did not appeal for so long. She will get backpay from 2002 forward.

  153. grim says:

    From Baristanet:

    Ex-Mrs. New Jersey Sentenced To Year In Jail

    Former Mrs. New Jersey (2005), Heather “Hedy” DiCarlo loved antiques, and had an astonishing collection in her Essex Fells home. After one particular spending spree in 2007, the beauty queen was arrested for allegedly bouncing $70,000 in checks. On January 29, 2009, DiCarlo pleaded guilty to four charges of theft by deception and writing bad checks.

    Today, according to a report in, Essex County Superior Court Judge Torkwase Sekou sentenced DiCarlo to 364 days in jail, calling DiCarlo a “master at deception.” Her lawyer said she will probably only serve two months.

  154. grim says:

    Sorry for the slow day.

    Too much work + Root canal <> Fun

  155. grim says:

    Were those eyebrows involved in some kind of hedge trimmer accident?

  156. Traitor nom deplume says:

    [142] Gator

    We have some evidence that our kids are not (being challenged academically)”

    Ya know, I wasn’t gonna bring it up, but since you did, well, . . .

    I will take the gimme putt here and not risk further Gator ire.

  157. John says:

    MBIA Q1 net income $3.34 a share vs $12.92 loss – MarketWatch

    whose your daddy now?

  158. SG says:

    Green Shoots or Greatest Depression?

    With so much money being dumped into the system, there will be money to be made … and lost. The agile and the knowledgeable may be able to reap “green shoots” while they’re sprouted. But beware!

    “The Greatest Depression” – that we forecast would begin to set in by the end of this year – may have been postponed, but it has not been averted. When it does set in, it will do so with enhanced intensity and at a pace accelerated by complex financial finagling … all under the guise of nation-saving action. Rather than let the failing industries fail and the failed banks go bankrupt, the government is deliberately bankrupting the nation.

    The lesson to be learned from the financial crisis that began in the summer of 2007, is that nothing succeeds like failure. The greater their failure, the bolder they become. The more they lose, the more they take. The greater the chaos, the more control they exact. The bigger they fail, the harder we fall.

    No act is too unthinkable or measure too draconian for the Washington–Wall Street Mob to concoct in order to maintain power, make money and cover their losses. While it is impossible to second-guess what the government will do next, it is absolutely certain that they will stop at nothing.

    The “green shoots” will wither and conditions will deteriorate. Those who are prepared for the worst will not have been taken by surprise.

  159. xmonger says:

    re 115:

    The key is to to give the addict enough credit/drugs to overdose and kill themselves. Then the problem is solved.

    “Hey, what a great idea! Cure the problems of overborrowing with even greater amounts of borrowing.

    I guess by the same rationale, dr@g addiction isn’t a problem…as long as you can get dr@gs.”

  160. Traitor nom deplume says:

    For the assembled comments (too numerous to list)

    There is no way to predict what the bank will do with your credit line, but that isn’t the point.

    Fact is, lines are being cut. BofA cut our airways cards limits yet I still get mondo solicitations from them so I could replace that credit with bonus miles if I wanted to. Go figure.

    Further, if (?) this legislation goes thru, no one under 21 gets a card w/o a co-signer parent, and there will be other restrictions on the industry to force it back into the lending it did 25 years ago. That’s bad for marginal folks who won’t get cards.

    Finally, those customers who pose the greatest threat to profitability will be axed or limited since the risk created by them cannot be spread around so easily. This is the biggest reason the legislation will result in line cuts.

  161. grim says:


    I believe Mr. Simpson said it best.

    “Alcohol, the cause of, and solution to, all of life’s problems.”

  162. #163 That’s miss NJ.

    Oh dear lord. Looking at the picture I already know what her voice sounds like.

    What type of SUV does she have?;

  163. John says:

    I bought 10k MBIA bonds on Friday for 3,5k, timing like this means I have been at roulette table too long and house is suckering me to make bigger bets so they can take it all back.

    SAN FRANCISCO (MarketWatch) — MBIA Inc. (MBI) late Monday reported a first-quarter net income of $701 million, or $3.34 a share, after adjusting for preferred stock dividends of MBIA Insurance Corp. The company saw a net loss of $2.4 billion, or $12.92 a share, in the same quarter last year. Revenue also recovered to $1.9 billion from a loss of $2.9 billion in the same period a year earlier, according to a disclosure submitted by the financial firm. Analysts surveyed by Thomson Reuters had forecast a loss of 33 cents a share for the quarter.

  164. confused in nj says:

    Shingles vaccine is recommended, by most physicians, for people over 60 based upon Merk literature. The FDA however doesn’t recommend it, for people who have already had Shingles. Unfortunately, your Physcician may not be receptive to being corrected. Mine said find a different doctor. I said you mean a real one? Not easy to do anymore. “First Do No Harm”.

  165. SG says:

    Corzine places conditional veto on housing bill

    “I commend the sponsors of this bill for their efforts to stimulate the development of housing, including affordable housing, during these difficult economic times, and to initiate construction projects when the construction industry, like many others, is facing difficulties,” Corzine said. “I also recognize the sponsors’ initiative in addressing and remedying some of the procedural impediments that can, from time to time, delay development projects, and in removing unintended consequences of certain affordable-housing regulations. I am concerned, however, that the bill does not go far enough in ensuring the provision of housing for those whose needs the private market has not addressed, and further recommend providing local governmental units with additional approval authority in matters of planning for residential development.”

    North Brunswick Township Council President Ralph Andrews said the recommendations must be reviewed by the township attorney, but “the preliminary appearance would give us the opportunity if we have good planning behind what we did as far as zoning, it would appear to give us the ability … to keep this as age-restricted housing … and we do have good, sound planning.”

  166. SG says:

    Corzine vetoes hotly contested housing bill

    Locally, mayors had mixed reactions to the conditional veto.

    East Windsor Mayor Janice Mironov, who has estimated her town has about 400 age-restricted units that would be eligible for conversion, lauded “positive improvements” to the bill.

    “The changes would provide a greater opportunity for citizens and local officials to be heard and exercise some degree of local authority … (but) at the end of the day, the bill was not well conceived by the Legislature and remains unnecessary and unjustified,” Mironov said in an e-mailed statement yesterday.

    Hamilton Mayor John Bencivengo has argued that removing age restrictions would impact local services like roads and schools.

    “I would like to see (Corzine) veto the bill completely and stay out of the home rule business,” said Bencivengo, whose town has about 431 eligible units. “Let us do our job here, and let the people that sit on (the) planning board decide the fate of these things.

  167. NJGator says:

    165 Nom – Did Stu warn you about my temper?

    UF has a grand history of stupid comments being made by University Presidents. In my day, the prize for that went to Dr. John Lombardi. When he was passed over for the Chancellorship of the State University System and the position was offered to the African American President of the University of North Florida, he openly referred to him as an ‘Oreo’ at a cocktail party in the presence of a reporter.

    He of course was forced to resign, but this was all part of G-d’s master plan, because it brought Bernie Machen and through him Urban Meyer (Steve Who?) to Gainesville, so it was all for the greater good.

  168. NJGator says:

    Grim – 179 in moderation.

  169. SG says:

    If you’ve got it, flaunt it!

    That’s been the premise of the “Real Housewives” franchise. And no one’s taking it more to heart than the ladies of New Jersey, whose show debuts tonight.

    Recession? What recession ? If there’s economic insecurity out there, it apparently hasn’t made its way to Franklin Lakes, N.J., the setting for Bravo’s latest “Real Housewives” docu-reality series. “The Real Housewives of New Jersey,” which premieres tonight at 11, exists in what seems, to many of us, an impossible world of French-chateau furniture and backyard waterfalls. Watching its five main characters kvetch and spend is like entering a fantasy world, or traveling down a wormhole to some earlier gilded age.

  170. NJGator says:

    In other fun news, Stu and I have just started playing our annual edition of ‘Deal or No Deal’ with the Township of Montclair. Our settlement proposal is on the table. At stake this year is upwards of $1900 in potential tax savings based on the 2008 tax rate. Ah the blessing and curse of living in a highly taxed town.

  171. sas says:

    well blokes.
    its offical.

    just started the paper work today.
    Donating my uws townhouse to a local charity.

    going to spend full time in Bergen County and my undiscloed location.

    alot of memories in this joint after all these years.

    oh well, life goes on.

  172. Clotpoll says:

    plume (140)-

    And when I die, I’m a Tar Heel dead.

    Go to hell, Dook.

  173. Shore Guy says:


    I am beginning to think the CC decisions are made by the same people who establish airline fares — a couple of nearsided drunks with a dartboard and no glasses.

  174. kettle1 says:

    recession, at -18% YOY GDP growth? So whats a depression? When they go to zero?

    Latvian economy in rapid decline

    Latvia’s economy contracted 18% in the first three months of the year, compared with a year earlier, as the country’s recession accelerated.

  175. Firestormik says:

    Shore, 146
    I have Chase and BAC cards that I don’t use at all. Was surprised when I received Chase renewal last week. Citi hiked up my APR with no reason, but I pay in full after my each bi-weekly pay check, so I don’t care.

  176. kettle1 says:

    HSBC profit boosted by gain on own debt

    Banking giant HSBC Holdings said Monday that its first-quarter underlying profit was substantially ahead of a year earlier due to $6.6 billion of one-off gains, as its investment banking arm also benefited from improved market share and margins. The group said that excluding the gains, which were due to a fall in the market value of its own debt, underlying pretax profit was down compared to a year ago, but still higher than the final quarter of 2008. It added the price of its debt rebounded in April, meaning much of the benefit will be reversed in the second quarter. HSBC, which doesn’t give detailed quarterly figures for the group, also said loan impairment charges rose compared to a year ago, but declined from the high levels seen in the last three months of 2008.

  177. Shore Guy says:


    Maybe you two can hire Miss NJ to go in and make the pitch, I know she would scare me.

  178. Clotpoll says:

    Gator (150)-

    And they wonder why people snap every now and then and end up shooting themselves a judge…

  179. Shore Guy says:

    Back to Miss NJ. I can see it now:

    Swimsuit? Swimsuit?! I got your fricken swimsuit right here buddy. Why the he-ll don’t you put on the fricken swimsuit and I will tell you what I think of your flabby @$$. Now get me a pizza before I break your legs.

  180. Clotpoll says:

    zieba (163)-

    She looks like a crack ho.

  181. stu says:

    for what it is worth, I once slept with miss NJ’s younger sister!

  182. NJGator says:

    Clot 191 – You’ve got your pick of 7. The opinion was unanimous.

  183. kettle1 says:


    Your favorite Topic:

    Tax recipts.

    State Sales Tax Revenues tell the story. California is absolutely cratering, for example:

    Sales taxes were $452 million lower (-50.9%) than last April, and personal income taxes were down $5.7 billion (-43.6%).

    California represents about 13% of GDP and thier sales taxes are down 50%. US GDP is 70% consumer spending. If california sales taxes are down 50% what do you think is going on in the rest of the nation? Oh, and Obama is still saying we will see 3.5% GDP growth by the end of the ear.

    At the current rate we will see a 10% drop in GDP unless the government increases spending to fill the gap.

    California is responsible for thirteen percent of the total US GDP and if it were an independent nation it would be the tenth largest economy in the world.

  184. NJGator says:

    Shore 190 – If she is unavailable, I will have to resort to PowerPoint.

  185. Sean says:

    re: #196 kettle1

    thanks dude, since Corzine is now asking for a bridge loan all is well in NJ.

    Pay no attention to fly by dropping cash!

  186. PeaceNow says:

    Based on all the credit card news, I was sure BOA would cancel me, considering I haven’t used the card at all in the past five years. In fact, I don’t think I even activated the last card they sent me. And yet, I did get a new one within the past month, with the same 25K limit.

    I worked for a credit bureau in the late 70’s, when I was a teenager, and part of my job was assigning credit ratings.

  187. sas says:

    “in the late 70’s, when I was a teenager”

    yer just a wee lad.

    spent some time out in San Mateo during that time.


  188. Traitor Nom Deplume says:

    (179) Gator

    Did anyone warn you that I never take someone’s temper seriously?

  189. sas says:

    “Is Anyone Minding the Store at the Federal Reserve?”

  190. Shore Guy says:

    “for what it is worth, I once slept with miss NJ’s younger sister”

    Always a good thing to say in a public forum frequented by one’s spouse.

  191. NJGator says:

    Shore – He posted that from my Treo. I am a good wife.

  192. Shore Guy says:

    Are you sure you were born in NJ? In my family (ethnic background to remain unnamed, even if apparent) someone saying such thing would end up burried in the middle of the night in at least one unmarked grave.

  193. Shore Guy says:

    Anyone here have any experience/views on 88-key Korg workstations?

  194. NJGator says:

    I was actually born in NY. my parents moved to Monmouth County in the early 1980s because they wanted to live in ‘the country’.

  195. sas says:

    ““for what it is worth, I once slept with miss NJ’s younger sister”

    ha ha ha…
    your all wet behind the ears.

    that ain’t nothing bloke.

    reminds of John boy thinking the girl with the huge adam’s apple and 5 o’clock shadow buying him a drink is a lady…


  196. sas says:

    “reminds of John boy thinking the girl with the huge adam’s apple and 5 o’clock shadow buying him a drink is a lady”

    and the kicker is..he brags thinking he is milton berle.


  197. Clotpoll says:

    You are a scary dude, sas. All the stuff you keep hinting at keeps coming true.

    I always assumed the worlds of gubmint, finance and “crime that pays” had plenty of common intersections. I just didn’t realize the scope…or how many intersections there are.

  198. sas says:

    “You are a scary dude, sas. All the stuff you keep hinting at keeps coming true”

    wait till what I say over a highball. however, all my grandkids have made me change old habits.

    “I always assumed the worlds of gubmint, finance and “crime that pays” had plenty of common intersections. I just didn’t realize the scope…or how many intersections there are”

    crime that pays, is crime that stays.
    even with the help of the so called “law”

    almost doublespeak.. i know.

    but, i’ve propsed the question on the boards that everyone seems to poo poo:

    if yer govt has no information sovereignty or information sovereignty…do you even have a govt?

    for me, after 30+ years. I say nada.


  199. Sean says:

    SaS – wise old friend here on njrereport, I think we are all are happy you are here and the fact that you share even better.

    The old books, Bible,Koran,and Tao plus others warn us yet few listen and even fewer live it, fewer pay any attention to anything…..

    History sometimes rhymes…..

  200. stan says:

    Clot:Ur not kidding, I am impressed by the various posters here.

    SAS- I envision you as a tougher version of felix liter in goldfinger. Your take on things continue to amaze me.

  201. jaserion says:

    can i trouble someone for this listing, please, MLS#: 80013491? thanks in advance!!

  202. Shore Guy says:


    Ha! I knew it! Otherwise Stu would be covered with gator bites and turning into compost.

  203. Shore Guy says:

    “reminds of John boy thinking the girl with the huge adam’s apple and 5 o’clock shadow buying him a drink is a lady”

    Which reminds me of something that happened to a teammate in a club a few days before a bowl game… laughed/cringed for years thinking about it.

  204. sas says:

    opps, screwed up my line.
    should be

    “if yer govt has no information sovereignty or financial sovereignty…do you even have a govt?”


  205. sas says:


    laws are for saps like you and I.
    you think the Fed reserve follows them?
    ha! hark, no.

    even Greenspan himself on record say the Fed is above any laws or regulations. they operate as their own entity.

    you don’t think those french fries sound great sometimes…i sure do.


  206. NJGator says:

    Shore 216 – Thanks. Will keep that info on file just in case I ever have to go all Jersey on him!

  207. Traitor Nom Deplume says:

    (205) Gator

    Yer awfully understanding. Mrs deplume would get very steamed. And that is just at the mention of names; I won’t even think of mentioning the slighest details, like (omitted)

  208. Cindy says:

    Something fun – My youngest daughter and grandson are in pic #5 of the slideshow (top table to the left) @ the Hopworks Urban Brewery in Portland, OR.

    IHT – “Portland on a Budget” Good article too. She sells her wares at the First Thursday event they speak of as well.

  209. Stu says:

    I suppose, some of us are very comfortable in our marriages.

    What happened 19 years ago is really inconsequential to our current relationship, unless I committed some heinous unspeakable act, of which boffing some pageant sibling does not qualify.

    I was so stoned and drunk that evening I passed out during the act. I think she had her way with me regardless.

  210. reinvestor101 says:

    Dammit! You’re scaring me again right before I go to bed. Rather than have sweet dreams of flipping houses and making money, I now face a damn nightmare of our government acting like Freddy Kruger.

    Hell, I can’t even turn the damn lights out now because of you; posting this spooky stuff this late at night is uncalled for.

    sas says:
    May 11, 2009 at 9:16 pm
    opps, screwed up my line.
    should be

    “if yer govt has no information sovereignty or financial sovereignty…do you even have a govt?”


  211. NJGator says:

    Cindy 222 – Thanks for sharing. Am filing this away for later in the year. We are going to try to head out to Portland to visit Stu’s step-sister.

  212. NJGator says:

    Nom 221 – Of course I am understanding about the past. Why wouldn’t I be? He was entitled to a life before we met, as was I. Now, if he has something to hide that stems from after we met, that’s an entirely different story. For that I’ll take him to the cleaners and make him regret it for the rest of his life :)

  213. Clotpoll says:

    sas (212)-

    Great. Total anarchy.

    But not the way I want it…and not in a form I can live with.

    How can I even be an anarchist, when it’s anarchy I want to overthrow?

  214. Shore Guy says:

    ” and make him regret it for the rest of his life :)”

    In some families, one would say, “and make him regret it for what little bit remains of his worthless life.”

    Come to think of it, I came from a fascinating, if also frightening, family .

  215. Shore Guy says:

    “He was entitled to a life before we met….”

    Frequently said, in certain quarters, just before the knife comes out.

  216. james says:

    Everytime I read one of SAS’s posts the next thought is, “Where the hell is my firearms license.” Its been 2 months. That being said, I agree with the doom and gloomers. This country is cooked for the foreseeable future and the good times are permanently over.

  217. reinvestor101 says:

    “This country is cooked for the foreseeable future and the good times are permanently over”

    Well, sas may be spooking everyone here, but the good times are definitely NOT OVER. The stock market has rallied and Larry Kudlow just said today that everything will be fine. (I really like him, he never talks negative. He’s always positive). So it gets down to who you’re going to listen to; Casper the Friendly Ghost (sas) or folks like Larry Kudlow.

    Kudlow doesn’t try to scare everyone, so I think I’ll listen to him.

  218. Clotpoll says:

    Some good drivel from a local agent (shall remain nameless). I like the seminar/MLM-world coded buzzwords and phrases. I wonder if some poor sap who’s 120K upside-down on his house wants to know that he’s being “Ninja-sold”. My guess is, probably not:

    “I was just asked by one of our agents if other agents were having a difficult time in our current market. To me the market is a mindset, those who are doing very well right now have adapted to the market and have a mindset to succeed. They are not listening to others who complain about the market or are waiting for the 2005 market to return.

    Here are some words of wisdom from my friend and mentor Larry Kendall from The Group in Colorado. For those who have taken the CRS class on Ninja selling you will recognize him as the creator. Have a great week and dance in the rain!

    Are You Dancing In the Rain?

    “Stop waiting for the storm to end… and start learning to dance in the rain.”

    Are you waiting for the market to improve or have you made the shift to the new market? Despite the downturn in home sales and prices, I am seeing many Realtors having their best years ever! What are they doing that the others are not? They have learned to dance in the rain. They are “thriving it out” versus “riding it out.” It starts with your mindset.

    Thriving Realtor Mindset:

    • The old market isn’t coming back.
    • I’m thriving in this market.
    • I’m learning to “dance in the rain.”
    • I’m making the shift: new mindset, new skills and new actions.
    • There is always a market. I just need to find it.”

  219. Clotpoll says:

    sas, you ever heard of “The Group”?

    How do these turdburglars actually get people to pay to listen to crap like the stuff in #233?

  220. Clotpoll says:

    I’m dancing in the fcuking rain.

    Just singin’ in the rain…

    A bit of the ultra-violence, my little droogies…

  221. Firestormik says:

    DM followers:
    Anybody love this guy as well :)

  222. Firestormik says:


  223. Thank you very much for taking the time to post this. Everyone should know about these things. I enjoy learning new things so I subscribe to blogs like yours. Craig

  224. sas says:

    its earl is morn for me as i sit here with my toast & coffee.

    i don’t think i’m doom & gloom. i’ve said many times on the boards things will never get as bad as you think they might.

    but, in some way, shape, and form we’ve all been doped and fraudulently induced.
    be it in the govt brainwashed classrooms, the history books, the corporate press, be it stock markets and real estate.

    i might be maken sense, tad earl for me.

  225. sas says:

    “doom and gloom”

    nope not yet neither for the USA.
    there is still alot of wealth extraction, and consolidation around the world to do.

    but, it comes with a price. more wars that feeds real terrorism (the ones not bought and paid for by the CIA). and sooner or later things turn in on themselves.

    where do you nip in the bud?

    if i worry about anything, i worry about little tots (as i have a soft spot for kids & puppies). i’d hate to see more wars and a draft (yes, a draft will come).

    ok, no more babble.
    i’m starting to wake.

    back to RE and daily economics

  226. Cindy says:

    (240) Good Morning Sas – A tad early for me as well.It would be nice to sleep. I am content with 6 hours each night and envy anyone who sleeps in.

    While I have you here, can you share a few of your thoughts, please? Let’s first admit that corruption and waste are nothing new and go from there.

    I don’t see the consumer buying into a second more of the boom/bust crap.
    Frugal is for real and savings will continue. Folks are paying down debt.

    But 25 years of growth directed at debt-supported consumption has us in a pickle. When you don’t want to bring back the old economy you had, you have to support a new one. What will that new economy look like?

    It seems to me it will be leaner as companies cut back, close slow stores, lay off workers or go out of business. So in some ways, efficiency is being introduced into today’s economy. But we still need jobs and spending – new job creation.

    Had the government spending been focused on improving our economy, I think I could feel better about new taxes but it isn’t. How is giving the money to banks going to get us where we want to go? No new jobs if the banks won’t lend for new investments. The only jobs I see being created are government jobs in the census or for their new programs.

    I have been wondering about your opinion. I’m not a gloom and doomer either. But being pretty pragmatic, I know we need to focus our efforts on the real economy.

    Forget for a minute that most see the situation as impossible and give me your ideas of what you see AS possible.


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