Monthly Archives: March 2010

NY Metro Home Prices Fall Again

According to the S&P Case Shiller Home Price Index (January 2010 – Released yesterday), aggregate prices have now fallen for the past 5 months in the NY Metro Area. It appears we may be moving towards a double dip scenario … Continue reading

Posted in Economics, New Jersey Real Estate | 563 Comments

“You don’t make drug addicts go cold turkey”

From the NY Times: Spurt of Home Buying as End of Tax Credit Looms Nine hundred days after putting their house on the market, Andrew and Jane Palestini were beginning to think they might be stuck in Iowa forever. The … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 508 Comments

2009 – Not the year of housing

From the Record: Home sales fell in North Jersey in 2009 North Jersey home prices dropped 8 percent last year, falling to their lowest level since 2004 and draining billions of dollars from the housing market. Despite federal efforts to … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 374 Comments

Housing Bailout Plan #46 47 (Hard to keep up with these)

From Bloomberg: U.S. Said to Widen Homeowner Aid, Subsidize Mortgage Reductions The Obama administration plans to announce programs to help homeowners avoid foreclosure, including subsidies for borrowers who owe more than their home is worth. The plan, to be unveiled … Continue reading

Posted in Economics, National Real Estate | 610 Comments

Lowball: Bruce Edition

From Housing Watch: Springsteen Takes a Loss on House Sale Bruce Springsteen, winner of 20 Grammy Awards, has sold one of his two neighboring homes in Florida’s Palm Beach County for $1 million less than its original list price, reported … Continue reading

Posted in Comp Killer, Lowball, National Real Estate | 366 Comments

Is the slump over in the Northeast?

From the NYT: Northeast Home Sales Post 13 Pct. Annual Increase Home sales in the Northeast rose in February as the economy showed signs of recovery, inspiring buyers. The National Association of Realtors also said Tuesday that Northeast sales were … Continue reading

Posted in Economics, New Jersey Real Estate | 400 Comments

February Existing Home Sales

From Bloomberg: Sales of Existing U.S. Homes Probably Fell for a Third Month Sales of existing U.S. homes probably fell in February for a third month, indicating the lack of jobs is hindering government efforts to revive demand, economists said … Continue reading

Posted in Economics, National Real Estate | 425 Comments

Age Unrestricted Communities

From USA Today: In N.J. community, age less of issue these days Elazer and Barbara Lew were the first to move in to Pine River Village in Lakewood, N.J., a development for people ages 55 and older. “I liked the … Continue reading

Posted in Economics, New Jersey Real Estate | 441 Comments

Welcome to Spring!

From the NY Times: In New Jersey, the For-Sale Signs Are in Bloom “GET ready for the block party! Great neighborhood!” That is how an agent named Heather Gilheany verbally baits the hook in her listing for 156 Oakland Road, … Continue reading

Posted in New Jersey Real Estate | 589 Comments

Shared Sacrifice

From the Record: Property tax rebates may vanish this year Property tax bills in New Jersey have gone up 56 percent since 2001. But the rebate checks that once offset those bills by as much 20 percent may vanish this … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 502 Comments

If schools suffer, are NJ homes worth the price and taxes?

From the Star Ledger: N.J. school district officials say Gov. Chris Christie budget cuts will force program, staff cuts Gov. Chris Christie sent suburban and urban school districts reeling today with the release of district-by-district state aid figures that cut … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 597 Comments

Huh? Christie? Kicking the can already?

From Bloomberg: Christie Seeks to Suspend N.J. Tax Rebate, Skip Pension Payment New Jersey Governor Chris Christie proposed a $29.3 billion budget that would suspend property-tax rebates, skip the state’s $3 billion pension contribution and fire 1,300 workers next year. … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 467 Comments

REO the problem? Or the solution?

From HousingWire: Housing Recovery is Spelled R-E-O Short sales are a hot topic right now—especially with a much-ballyhooed government program focused on short sales, the Home Affordable Foreclosure Alternatives program, about to come online. But in the end, the real … Continue reading

Posted in Economics, Foreclosures, National Real Estate | 798 Comments

Controlling Out Of Countrol Property Taxes

From the Philly Inquirer: Christie to propose cap on property-tax hikes Gov. Christie will propose a constitutional amendment to cap property-tax increases at 2.5 percent per year in his budget speech tomorrow, hoping to hold down the levies that have … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 515 Comments

A great time to pay a commission!

From the NY Times: Great Time to Buy (Famous Last Words) “IT’S a great time to buy a home.” Real estate agents were saying that in 2001, as home prices were rising. They also said it when home prices peaked … Continue reading

Posted in Economics, National Real Estate, New Jersey Real Estate | 193 Comments