Monthly Archives: September 2009

Movin’ Out!

Posted on September 14, 2009 by grim
Posted in Economics, New Jersey Real Estate | 328 Comments

From the Home News Tribune: Cost of living and doing business pushing people to leave N.J. Fanklin resident Jim Morano and his wife recently acquired a home in South Carolina after his wife’s sister and mother passed away. The couple … Continue reading →

Tending white elephants, sacred cows

Posted on September 13, 2009 by grim
Posted in New Jersey Real Estate | 44 Comments

From the NY Times: Wanted: ‘Keeper of the Flame’ BARGAINS abound these days in the market for New Jersey’s most unusual, lavish and historic homes. The Montclair home renovated with architectural treasures by Michael Strahan, the retired New York Giant, … Continue reading →

NJ income drop steepest in nation

Posted on September 11, 2009 by grim
Posted in Economics | 104 Comments

From New Jersey Newsroom: N.J.’s median income down $7,214, biggest drop in nation New Jersey’s median household income declined by $7,214 between 2006 and 2008, the largest dollar decrease in the nation, according to newly-released U.S. Census Bureau statistics, and … Continue reading →

Unemployment running out for Jerseyans

Posted on September 11, 2009 by grim
Posted in Economics | 176 Comments

From the Record: Unemployment benefits about to run out for thousands An estimated 33,000 New Jerseyans will receive their final unemployment check Friday, and the state estimates that benefits will dry up for about another 3,500 to 4,000 each week … Continue reading →

Foreclosure wave hits NJ

Posted on September 10, 2009 by grim
Posted in Foreclosures, New Jersey Real Estate | 317 Comments

From the Star Ledger: N.J. foreclosure filings up 43 percent in July Residential foreclosure complaints in New Jersey were up 43 percent in July over the same month last year, but dipped slightly from June’s high, according to data from … Continue reading →

Beige Book – NY Area Real Estate

Posted on September 9, 2009 by grim
Posted in Economics, New Jersey Real Estate | 41 Comments

From the Federal Reserve: The Beige Book – Second District – New York Construction and Real Estate Commercial real estate markets in the District were steady to somewhat softer since the last report. Manhattan’s office vacancy rate rose moderately in … Continue reading →

Everything old is new again

Posted on September 9, 2009 by grim
Posted in Economics, National Real Estate | 196 Comments

From the AP: New normal for home sales: Buyers have the power The American dream of homeownership is still attainable. Buyers just have to deal with a new set of realities. A year after the collapse of the housing market … Continue reading →

Recovery? Just who is hiring?

Posted on September 8, 2009 by grim
Posted in Economics | 182 Comments

From the Record: Employers not in hiring mood Though the economy has shown signs of improvement, the region’s employers are in no hurry to hire, according to a new survey. The Manpower Employment Outlook Survey found that only about 9 … Continue reading →

“What idiot was going to pay $6 million for that?”

Posted on September 6, 2009 by grim
Posted in General, New Jersey Real Estate | 192 Comments

Ok, so that last weekend open discussion ended up a disaster, but I’ve got hope that appendages, fluids, and the jacuzzi birthing parties are all behind us know. Let’s try this again. “What idiot was going to pay $6 million … Continue reading →

Labor Day Weekend Open Discussion

Posted on September 4, 2009 by grim
Posted in General, New Jersey Real Estate | 299 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 →

Losses lower for Hovnanian, revenue in the gutter

Posted on September 2, 2009 by grim
Posted in New Jersey Real Estate | 257 Comments

From K. Hovnanian: Hovnanian Enterprises Reports Third Quarter Fiscal 2009 Results This marks the 12th consecutive loss for the Red Bank based homebuilder. Revenue fell by somewhere near 45% from $716.5m in the third quarter of last year to $387.1m … Continue reading →

Mortgage Bankers: Hard to do job without fast and easy money, need bailout.

Posted on September 2, 2009 by grim
Posted in Economics, National Real Estate, Politics | 212 Comments

From Bloomberg: Mortgage Bankers Push for New Federal Loan Guarantee Program Mortgage bankers are pushing Congress to expand the U.S. government’s support of the market by guaranteeing private-industry home-loan securities and replacing finance companies Fannie Mae and Freddie Mac. The … Continue reading →

Despite recession, Upper Haughtyville is most expensive

Posted on September 1, 2009 by grim
Posted in Economics, New Jersey Real Estate | 254 Comments

From Newsroom New Jersey: New Jersey has most expensive ZIP code in country Beverly Hills 90210? Forget about it. Honolulu? The leafy suburbs of Westchester County and Connecticut? Great places to live, and hardly cheap, but they lack the distinction … Continue reading →