Monthly Archives: July 2009

Weekend Open Discussion

Posted on July 31, 2009 by grim
Posted in General | 366 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 →

Does bottom imply recovery?

Posted on July 30, 2009 by grim
Posted in Economics, National Real Estate | 232 Comments

From Bloomberg: Housing’s Tequila Hangover Isn’t Easily Shaken: David Reilly A housing bust is a lot like a tequila hangover. After the most acute signs of distress have passed, it still takes a long time before things start to feel … Continue reading →

Beige Book – NY/NJ Real Estate

Posted on July 29, 2009 by grim
Posted in Economics, New Jersey Real Estate | 70 Comments

From the Federal Reserve: Beige Book – Second District–New York The Second District’s economy has shown more signs of stabilizing in recent weeks, though, on balance, economic activity may still be contracting. The labor market remains exceptionally weak but with … Continue reading →

New Jersey Home Price Tracker – July

Posted on July 28, 2009 by grim
Posted in Economics, New Jersey Real Estate | 302 Comments

The New Jersey Home Price Index Tracker has been updated to include: * May S&P Case Shiller (Aggregate, Tiered, Condo) (click to enlarge) (click to enlarge) S&P Case Shiller NY Metro Commutable Area Home Price Index Low Tier (Under $284606) … Continue reading →

May S&P Case Shiller Home Price Index

Posted on July 28, 2009 by grim
Posted in Economics, National Real Estate | 301 Comments

From Calculated Risk: Case-Shiller Prices Fall in May Seasonally Adjusted Case-Shiller has released the Seasonally Adjusted house price index. Prices fell slightly in May (compared to April) for the Composite 10 and Composite 20 indexes. Seasonally adjusted, prices fell in … Continue reading →

Market recovery? Or just the hope for it?

Posted on July 27, 2009 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 226 Comments

From the New York Times: Hopeful Signs in Housing HOMEOWNERS and sellers of New Jersey, are you sitting down? You are about to read a recent state housing-trend analysis that’s not half bad: Overall sales are up; inventory is down; … Continue reading →

Weekend Open Discussion

Posted on July 24, 2009 by grim
Posted in General | 485 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 →

June Existing Home Sales!

Posted on July 23, 2009 by grim
Posted in Economics, National Real Estate | 368 Comments

From Bloomberg: Home Resales in U.S. Increased 3.6% in June, More Than Forecast Home resales in the U.S. rose in June for a third consecutive month, spurred by tax incentives, lower borrowing costs and foreclosure-driven declines in prices. Purchases climbed … Continue reading →

$8 $10 Billion in the Hole

Posted on July 22, 2009 by grim
Posted in New Jersey Real Estate, Property Taxes | 216 Comments

From the Courier Post: N.J. faces $10B deficit next year, report says New Jersey faces a projected budget deficit of $8 billion in its next fiscal year, as well as a shortfall of more than $2 billion in its unemployment … Continue reading →

Look at the bright side, at least they got multiple offers

Posted on July 21, 2009 by grim
Posted in Housing Bubble, Humor, National Real Estate | 26 Comments

NYC Comp Killer 151 East 58th St Unit 34C, One Beacon Court (aka the Dreier Residence, aka Bloomberg Tower) Purchased: 2007 Purchase Price: $10.4 Million Sold: 7/21/2009 Sale Price: $8.2 Million 21% below 2007 purchase price! (Not to mention numerous … Continue reading →

Realtor affordability index “rosy”, not “relevant”

Posted on July 21, 2009 by grim
Posted in Economics, National Real Estate | 226 Comments

I think I’m more surprised that Bloomberg and BAC actually thought that the Realtors would provide an unbiased economic picture. They sell houses, it’s their job to make houses look like a good buy. When home prices were shooting skyward, … Continue reading →

Not to worry, the commercial problem is contained

Posted on July 20, 2009 by grim
Posted in Economics, Foreclosures, National Real Estate | 172 Comments

From the Wall Street Journal: Commercial Loans Failing at Rapid Pace U.S. banks have been charging off soured commercial mortgages at the fastest pace in nearly 20 years, according to an analysis by The Wall Street Journal. At that rate, … Continue reading →

Ding Dong! The Witch is Dead!

Posted on July 19, 2009 by grim
Posted in Economics, New Jersey Real Estate | 101 Comments

Ding Dong! The Witch is Dead! The New Jersey housing market has lost its biggest set of pom-pom waving cheerleaders, and none to soon! Sugar-coat this one all you want, but the fact of the matter is that Burdgdorff is … Continue reading →

Baking her way out of foreclosure

Posted on July 17, 2009 by grim
Posted in Economics, Foreclosures, New Jersey Real Estate | 374 Comments

From the Record: Teaneck woman hopes bake sale will help forestall foreclosure Facing foreclosure on her Teaneck home, Angela Logan is navigating a difficult time like a true PTA mom. She’s having a bake sale. The 55-year-old actress, comic and … Continue reading →

Foreclosure activity at record levels

Posted on July 16, 2009 by grim
Posted in Foreclosures, Housing Bubble, National Real Estate | 345 Comments

From Bloomberg: U.S. Foreclosure Filings Hit Record 1.5 Million in First Half U.S. foreclosure filings hit a record in the first half, a sign that job losses and falling property prices deepened the housing recession, according to RealtyTrac Inc. More … Continue reading →