Monthly Archives: October 2009

Turnaround by 20 … 19?

Posted on October 30, 2009 by grim
Posted in Economics, New Jersey Real Estate | 453 Comments

From Bloomberg: New Jersey Won’t Recover Job Losses Until 2019, Rutgers Finds New Jersey, its jobless rate at a 32-year high, won’t exceed its pre-recession employment for a decade, Rutgers University economists predict. The state will begin recovering in 2011, … Continue reading →

Buttoning up AC for the winter

Posted on October 29, 2009 by grim
Posted in Economics, New Jersey Real Estate | 257 Comments

From the Star Ledger: Lack of guests leads Borgata to close rooms in Water Club Hotel The Borgata Hotel Casino & Spa in Atlantic City is taking hundreds of rooms at its Water Club hotel out of service on Tuesdays … Continue reading →

Bubble 2.0

Posted on October 28, 2009 by grim
Posted in Housing Bubble, National Real Estate | 261 Comments

From Reuters: U.S. home price gains may not be sustainable: Shiller The gains in U.S. home prices in recent months may not be sustainable and increases in some areas of the country appear to be in “bubble territory,” an economist … Continue reading →

The push to extend credit is on

Posted on October 27, 2009 by grim
Posted in Economics, Housing Bubble, National Real Estate | 228 Comments

From the APP: Time winding down for home buyers With its expiration just over a month away, a push is on to extend the first-time home buyers’ tax credit, which boosted the beleaguered housing market in the midst of a … Continue reading →

“We are just trading off good news now for bad news in 2010.”

Posted on October 26, 2009 by grim
Posted in Economics, National Real Estate | 220 Comments

From Minyanville: Where the Housing Market Goes From Here Subsidizing renters with gobs of greenbacks if they buy a house turns out to be a pretty popular program. Thanks to the tax credit for first-time home buyers, as well as … Continue reading →

Stuck in ’06

Posted on October 24, 2009 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 107 Comments

From the NY Times: Puzzling Over Home Prices THE housing market in New Jersey has been on a little roll toward recovery — the number of sales has risen and the number of houses on the market has fallen for … Continue reading →

Homebuyer Tax Credit Free For All

Posted on October 23, 2009 by grim
Posted in National Real Estate, Politics | 215 Comments

From HousingWire: IRS Wrongly Gave Homebuyer Tax Credit to Resident Aliens, Minors: Watchdog The Treasury Inspector General for Tax Administration (TIGTA) believes the Internal Revenue Service (IRS) may have paid out millions of dollars in first-time homebuyer tax credits to … Continue reading →

Army backstops home price declines in Ft. Monmouth closure

Posted on October 22, 2009 by grim
Posted in New Jersey Real Estate | 206 Comments

From the NY Post: Army covers its bases on supporting house prices HERE’S a government deal I know you’d love to get in on. More than four years ago the US Army announced that it was closing its Fort Monmouth … Continue reading →

Beige Book – October 2009

Posted on October 21, 2009 by grim
Posted in Economics, New Jersey Real Estate | 26 Comments

From the Federal Reserve: Beige Book – October 2009 Second District–New York The Second District’s economy has shown scattered signs of a pickup since the last report. The labor market has given mixed signals, with some signs of strengthening in … Continue reading →

Housing starts give mixed signals about recovery

Posted on October 21, 2009 by grim
Posted in Housing Bubble, National Real Estate, New Development | 146 Comments

From the AP: Meltdown 101: Housing starts show industry’s woes Housing construction is crawling out of its very deep hole, but no one expects it to reach the heights hit before the housing bubble burst — at least not for … Continue reading →

Dwek to plead guilty

Posted on October 20, 2009 by grim
Posted in New Jersey Real Estate, Politics | 168 Comments

From the Star Ledger: Solomon Dwek, central witness in N.J. corruption probe, is expected to plead guilty to bank fraud charges Solomon Dwek, the key witness in the massive federal corruption and money laundering sting that rocked the state’s political … Continue reading →

Pro athletes to save the high-end!

Posted on October 19, 2009 by grim
Posted in Economics, New Jersey Real Estate | 224 Comments

Sure hope we’ve got enough of them, there are currently 332 homes for sale over $2m in Essex, Hunterdon, Morris, Somerset, Sussex and Union (GSMLS). That number goes up to 600 homes when you add in Passaic, Hudson, and Bergen … Continue reading →

Weekend Open Discussion

Posted on October 17, 2009 by grim
Posted in General | 148 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 →

Ponzi Jr Facing 10 Years

Posted on October 16, 2009 by grim
Posted in Foreclosures, New Jersey Real Estate | 293 Comments

From the Daily Record: Morris woman admits to $1.2 million real estate scam A Convent Station woman faces up to a decade in prison after admitting in court Thursday that she accepted $1.2 million from investors but didn’t follow up … Continue reading →

RealtyTrac: “They were the worst three months of all time”

Posted on October 15, 2009 by grim
Posted in Foreclosures, National Real Estate | 260 Comments

From RealtyTrac: U.S. FORECLOSURE ACTIVITY INCREASES 5 PERCENT IN Q3 New Jersey – Q3 Foreclosure Activity Lis Pendens – 11,816 (Defaults) Notice of Sale – 3,878 REO – 2,414 From Bloomberg: U.S. Foreclosure Filings Jump 23% to Record in Third … Continue reading →