Monthly Archives: January 2010

NJ Foreclosures: Stabilization at multi-year highs isn’t improvement

Posted on January 14, 2010 by grim
Posted in Foreclosures, New Jersey Real Estate | 379 Comments

Don’t get me wrong, stabilization is good news, but realize that stabilization at these levels is nothing to cheer about. The rate of foreclosures in NJ did not decline in NJ in 2008, they increased by 1%. The best we … Continue reading →

Beige!

Posted on January 13, 2010 by grim
Posted in Foreclosures, New Jersey Real Estate | 125 Comments

Beige Book, from the Fed: Federal Reserve Districts – Second District–New York Construction and Real Estate Commercial real estate markets in the District were mixed but, on balance, softer since the last report. Manhattan’s office vacancy rate leveled off in … Continue reading →

Edison NJ Mortgage Lender Subpoenaed By HUD

Posted on January 12, 2010 by grim
Posted in New Jersey Real Estate, Risky Lending | 169 Comments

Edison-based lender Security Atlantic Mortgage was subpoenaed by the HUD Office of the Inspector General today. Security Atlantic and 14 other lenders nationwide are being investigated by the U.S. Department of Housing and Urban Development for having significantly high default … Continue reading →

Otteau: Slow recovery for housing, no recovery for high-end

Posted on January 12, 2010 by grim
Posted in Economics, New Jersey Real Estate | 224 Comments

From the Record: N.J. real estate prices headed up New Jersey home prices have bottomed out and will rise about 2 percent this year, real estate appraiser Jeffrey Otteau predicted Monday. “While things will get better from here, they’re going … Continue reading →

Corzine “was unwilling to make the tough decisions”

Posted on January 11, 2010 by grim
Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 323 Comments

From Bloomberg: Corzine Leaves $8 Billion Gap as N.J. Governor Readies Exit Jon Corzine, only the second sitting New Jersey governor to lose a general election since 1947, makes his farewell speech tomorrow with the third-most indebted U.S. state facing … Continue reading →

Like clockwork, with spring comes optimism.

Posted on January 10, 2010 by grim
Posted in Economics, New Jersey Real Estate | 175 Comments

But is it founded in logic, reason, and data? Or is it nothing more than the same hopeful cheerleading we’ve seen for at least the past 3 spring seasons? From the NY Times: Optimism About the New Year SO is … Continue reading →

Change coming to NJ Real Estate! (and the weekend open discussion)

Posted on January 8, 2010 by grim
Posted in New Jersey Real Estate | 249 Comments

From the New Jersey Association of Realtors: (This might just be the first time I’m citing the NJAR without insulting them). Continuing Education for Real Estate Licensees Receives Final Legislative Approval (no link) On January 7, 2010, the New Jersey … Continue reading →

The end of Big Pharma in NJ?

Posted on January 7, 2010 by grim
Posted in Economics, New Jersey Real Estate | 288 Comments

From Fierce Biotech: Pfizer and Merck signal deep cuts in R&D groups Pfizer and Merck have begun to spell out exactly where the axe will fall as they each absorb a big new acquisition into their organizations. According to Pharmalot, … Continue reading →

Short Sales Up 22.4% in Q3

Posted on January 7, 2010 by grim
Posted in Housing Bubble, National Real Estate, New Jersey Real Estate | 256 Comments

From the Star Ledger: Lenders are hard-pressed to keep up with the demand of short sales Thinking he’d found a cheap vacation home, Louis Pallante in April bid $300,000 for a fixer-upper in Toms River. And then he waited to … Continue reading →

Gold Coast Glitters

Posted on January 6, 2010 by grim
Posted in Economics, New Jersey Real Estate | 46 Comments

From the Star Ledger: Report: Office space availability to rise in the new year Increased office space availability will continue to plague the commercial real estate market in the new year, according to Santa Ana, Calif-based Grubb & Ellis. … … Continue reading →

Pending Sales Dip, Northeast Plunges

Posted on January 6, 2010 by grim
Posted in Economics, National Real Estate | 265 Comments

From the WSJ: Home-Sale Gauge Fell as Tax Deal Expired A gauge of housing-market activity plunged in November, largely reflecting a surge of home buyers in October racing to beat a deadline for a tax credit. … The National Association … Continue reading →

This story again?

Posted on January 5, 2010 by grim
Posted in Economics, National Real Estate | 284 Comments

From CNN/Money: Will bonuses save the day for Manhattan real estate? Bonuses are making a comeback on Wall Street and that might help stabilize the Manhattan real estate market. While Manhattan home prices dropped between 10% and 15% in the … Continue reading →

“I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained” – Paulson 2007

Posted on January 4, 2010 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 68 Comments

From Bloomberg: Housing Animal Spirits to Be Banished by Prime Foreclosures Homeowners with the best credit are the next big risk for the U.S. housing market. An increase in mortgage defaults among prime borrowers in 2009 is likely to accelerate … Continue reading →

Recovery not looking so rosy

Posted on January 4, 2010 by grim
Posted in Economics, New Jersey Real Estate | 196 Comments

From the Record: Housing recovery may be anemic After three years of hard times, analysts say, the housing market is likely to begin recovering this year. But between high unemployment and rising foreclosures, the recovery is expected to be weak … Continue reading →

Predictions 2010!

Posted on January 1, 2010 by grim
Posted in Economics | 366 Comments

This is quickly becoming a tradition around here, so here we go again! You know how this works, break out the crystal balls and prognosticate. Ground Rules Review the Predictions 2009! thread, and if you did make a prediction, please … Continue reading →