Monthly Archives: May 2010

“I didn’t feel that at this level of income, people would be affected”

From the Record: North Jersey luxury homes languish on the market Looking for a bargain? Actor Eddie Murphy’s 30-room Englewood mansion, which went on the market in 2004 for $30 million, can be yours for $12.75 million. And hip-hop entrepreneur … Continue reading

Posted in Economics, Housing Bubble, New Jersey Real Estate | 67 Comments

Sorry Joe

From the WSJ: Despite Bust, Ordinary Joes Still Can’t Afford Stately Homes One of the disappointing aspects of a housing bust is that it doesn’t actually mean ordinary Joes can now afford stately homes with views of the Golden Gate … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 334 Comments

“Great home, located in a wonderful neighborhood”

From AOL News: Would You Want to Live in a Serial Killer’s House? If you’re in the market for an “excellent handyman’s special,” you might want to check out a two-story ranch-style house that’s for sale in East Meadow, N.Y. … Continue reading

Posted in National Real Estate | 235 Comments

NY Metro Home Prices Continue Falling

From the Record: Home prices in NY Metro area down 2.4 percent from last year Home prices in the New York metropolitan area, which includes North Jersey, declined 2.4 percent in March from a year earlier, the Standard & Poor’s … Continue reading

Posted in Economics, Housing Bubble, New Jersey Real Estate | 327 Comments

Deeper into the hole we go

From the Daily Record: State revenues continue to fall short State revenues continue to fall below projections, putting New Jersey in potentially tighter budget squeeze. A new analysis by the nonpartisan Office of Legislative Services predicts that taxes and other … Continue reading

Posted in National Real Estate, Politics, Property Taxes | 333 Comments

Open Wallets? Arms Outstretched.

From the Asbury Park Press: Seaside sees good times when MTV show returns Filming of the MTV reality series “Jersey Shore” doesn’t begin here until July, but local business leaders Monday night rolled out the red carpet for the next … Continue reading

Posted in Economics, Shore Real Estate | 183 Comments

Unemployment Rate Steady at 9.8%, +10,500 Jobs

From the Asbury Park Press: NJ unemployment: N.J. added 10,500 jobs in April, unemployment rate held steady New Jersey’s economy added 10,500 jobs in April, and its unemployment rate remained stable at 9.8 percent, the state Department of Labor and … Continue reading

Posted in General | 281 Comments

Pretty flop is still a flop

From the Daily Record: A mighty Oak: Fully restored, historic Empire-style Victorian on market for $499,000 Four years ago, Bob and Michele Pulis bought a historic, circa-1818 house atop Schooley’s Mountain in Long Valley. Vacant for 40 years, the Oak … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 306 Comments

“I’m afraid I might lose my home because of this”

From the Star Ledger: Irvington residents are reeling from 17 percent tax hike A 17 percent municipal tax increase here has given rise to resident anger in recent days as the township’s quarterly bills began arriving in mailboxes. Although the … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 191 Comments

The End of Big Box Mart

From GlobeSt: Northern NJ Big Box Spaces Remain Unfilled The vacancy rate in retail properties along Northern New Jersey’s six major shopping corridors reached 8% in April, according to R.J. Brunelli & Co., LLC. This compared with a 6.6% vacancy … Continue reading

Posted in Economics, New Jersey Real Estate | 322 Comments

South Jersey Slump

From the Press of Atlantic City: Southern New Jersey builders say this has been a depression for them Despite a housing slump that devastated the home-building industry, new homes continue to be built in southern New Jersey, mostly in projects … Continue reading

Posted in New Development, South Jersey Real Estate | 205 Comments

Open Houses… What’s the point?

From the NYT: Brokers Divide on Utility of Public Open Houses THE thought of holding a public open house makes Paul A. Falla wince: strangers traipsing through his five-bedroom contemporary in White Plains, peering into his closets, opening the kitchen … Continue reading

Posted in National Real Estate | 130 Comments

Abolish COAH and Fair Housing?

From the Record: Christie recommends eliminating affordable housing agency, law Governor Christie on Thursday recommended eliminating the Council on Affordable Housing and repealing the Fair Housing Act, the agency and law that largely guided housing development across New Jersey for … Continue reading

Posted in General | 275 Comments

Bergen ain’t special

From CNBC: Home Buyer Tax Credit Takes its Toll As the end of the home buyer tax credit neared last month, we all argued whether or not the increase in sales and the relative price stabilization could survive on their … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 359 Comments

North Jersey Recovering, Central and South Faltering?

From the Record: North Jersey home prices steady in first quarter Home prices in the New York metropolitan area, including North Jersey, rose slightly in the first quarter of 2010, in another sign that the housing market may be stabilizing. … Continue reading

Posted in Economics, Housing Bubble, New Jersey Real Estate | 310 Comments