Monthly Archives: July 2010

NJ Property Taxes – Like an adustable rate mortgage that never ticks down

From the Times of Trenton: As cuts sting, taxes rise – Pinched by revenue losses and rising costs, homeowners hit from both sides Susan Bluth owns a two-bedroom condo in the Wyckoff’s Mill development of Hightstown. Her property taxes jumped … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 123 Comments

Weekend Open Discussion

Will kick this one off with the best quote to ever appear in the New York Times: She has described some homes here as “multimillion-dollar penis extensions” that will make a buyer feel as if “he has never left northern … Continue reading

Posted in General | 115 Comments

Let it sink into the swamp

From the Record: Xanadu may get $180M from state Meadowlands Xanadu developers, after more than a year of looking for new investors, may soon add an important new partner: you, the state taxpayer. Three sources familiar with a proposal under … Continue reading

Posted in New Development, New Jersey Real Estate, Politics | 214 Comments

“Oh yeah, I want them to tax me more money”

From the APP: New Jersey mayors against property-tax cap voice concerns Mayors opposed to the 2 percent cap on property tax increases hurtling toward approval by the state Legislature voiced their concerns to an Assembly committee Wednesday, taking exception to … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 231 Comments

Woe is May

From Jeffery Otteau ( Contracts to purchase a home in New Jersey declined in May by 23% as compared to the same month last year, falling to their lowest level of the past 6 years. Considering that contract-sales in April … Continue reading

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 236 Comments

Urban Migration Mirage?

From the Wall Street Journal: The Myth of the Back-to-the-City Migration Pundits, planners and urban visionaries—citing everything from changing demographics, soaring energy prices, the rise of the so-called “creative class,” and the need to battle global warming—have been predicting for … Continue reading

Posted in Economics, National Real Estate, New Development | 165 Comments

$1.3 Billion? Poof!

From the Daily Record: Property values decline $1.3B in Morris County NJ over past year The value of all taxable property in Morris County dropped $1.3 billion in the past year, after growing for most years in the past decade. … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 64 Comments

Pending home sales slow drop dive plunge

From the BBC: US home sales dive record 30% as tax break is removed Contracts for sales of previously-owned homes plunged a record 30% in May, far higher than expected. The figures came in a survey from the National Association … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 324 Comments

Too radical?

From New Jersey Newsroom: Christie can cut billions more from N.J. budget if he really believes in limited government Governor Christie’s property tax cap allows residents to override the 2.5% cap. What is the point of a cap then? Self … Continue reading

Posted in National Real Estate, Property Taxes | 168 Comments