Monthly Archives: February 2010

Snowmageddon Open Discussion

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

Posted in General | 772 Comments

What Recovery? New Home Sales Dive.

From the Wall Street Journal: New Home Sales Plunge to ’63 Levels Sales of new single-family homes plunged last month, underscoring the fragility in the housing market. Sales dropped 11.2% in January from a month earlier to a seasonally adjusted … Continue reading

Posted in National Real Estate, New Development | 431 Comments

NY metro home prices fell 6.3% in December

From the Star Ledger: Home prices still fall in the N.Y. region Housing prices in the New York metropolitan area dropped for the fourth consecutive month in December, according to data released today. Nationwide, prices in the 20 cities that … Continue reading

Posted in Economics, National Real Estate, New Jersey Real Estate | 461 Comments

Shore rentals in demand for the Summer of ’10

From the NY Daily News: Want to roll in Snooki’s sheets? ‘Jersey Shore’s’ Seaside Heights, N.J., house is $1,800 a night How about a roll in Snooki’s sheets? For $1,800 a night, you can grace the ground zero of Guido … Continue reading

Posted in Humor | 507 Comments

Suck it up, sellers.

From the NY Times: Dry Your Eyes and Lower the Price NEVER in all his 17 years selling real estate has Mark Seiden gone through as many boxes of tissues as he has in the past 12 months. It’s not … Continue reading

Posted in Economics, National Real Estate | 1,368 Comments

Weekend Open Discussion

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

Posted in General | 504 Comments

“I’m not going to spend this state further into debt and I’m not going to tell you a happy story…”

From the Star Ledger: Gov. Chris Christie warns N.J. districts school aid could be cut 15 percent in next budget With school districts still reeling from the midyear budget cuts he announced last week, Gov. Chris Christie said today he … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 619 Comments

Four year recovery?

From the Star Ledger: Rutgers report: job loss recovery will take at least 4 years With the recession in the rearview mirror, this decade will be known as the Great Reckoning as the economy tries to recover from massive job … Continue reading

Posted in Economics, New Jersey Real Estate | 521 Comments

A closer look inside short sales

From the Star Ledger: The long and short of short-selling homes But Goldie Sommer, a real estate attorney and agent, said there is no reason why anyone can’t navigate a short sale. Sommer, a principal at Fairfield-based Sommer and Engelhart, … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate | 453 Comments

Tuesday Open Discussion

Open discussion, flying down to Nashville this morning. You know the drill, keep it clean.

Posted in General | 450 Comments

Paying homeowners to stay homeowners

From Default Servicing News: Company Proposes Paying Homeowners Not to Walk Away With tumbling property values leaving nearly a quarter of borrowers owing more on their mortgage than the home is worth, some may find it tempting to walk away … Continue reading

Posted in Economics, National Real Estate | 417 Comments

Property tax rebate fraud? I’m shocked!

From the AP: Audit exposes NJ property tax program flaws Lax oversight, confusing rules and potential fraud have combined to cost New Jersey millions each year in rebates and tax deductions given to homeowners who may not qualify for them, … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 735 Comments

New Jersey Q4 Home Sales Up, Prices Down

From the Record: North Jersey home prices down 5.5% in fourth quarter 2009, to median $434,000 The housing market’s steep price slide appears to be slowing, according to data released Thursday by the National Association of Realtors. The median price … Continue reading

Posted in Economics, New Jersey Real Estate | 434 Comments

Citi offers cash for keys

From the WSJ: Citi Pushes Foreclosure Alternative Mortgage lenders are trying to arrange smoother departures for distressed homeowners who can’t be saved by loan modifications–and discourage them from trashing the homes on their way out. CitiMortgage, a unit of Citigroup … Continue reading

Posted in Housing Bubble, National Real Estate | 680 Comments

Out of the factories and onto the roadways, we’re all pavers now.

From NJBiz: Report: N.J. industrial jobs down 6.4 percent since recession start Manufacturers’ News Inc. released a report Tuesday showing industrial jobs have shrunk by 6.4 percent in the Garden State since the start of the recession. The 2010 New … Continue reading

Posted in Economics | 507 Comments