Monthly Archives: December 2010

Home prices are too damn high

From Peter Schiff via the WSJ: Home Prices Are Still Too High Most economists concede that a lasting general recovery is unlikely without a recovery in the housing market. A marked increase in defaults and foreclosures from today’s already elevated … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 162 Comments

Predictions 2011!

This is 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 2010! thread, and if you did make a prediction, please post … Continue reading

Posted in Economics | 202 Comments

October Case Shiller

From Bloomberg: Home Prices in U.S. Decrease More Than Forecast Home prices dropped more than forecast in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year. The S&P/Case-Shiller index of property … Continue reading

Posted in Economics, National Real Estate | 151 Comments

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 | 129 Comments

Delinquent homeowners get holiday moratorium

From the Philly Inquirer: Phila. homeowners facing foreclosure get holiday reprieve Homeowners facing foreclosure got a holiday reprieve Thursday as Philadelphia’s top judge ordered a 30-day moratorium on sheriff’s sales while waiting for a federal relief program to arrive in … Continue reading

Posted in Foreclosures, National Real Estate | 73 Comments

November Existing Home Sales

From Portfolio: Housing Sales Improving? Humbug The housing market just keeps dragging down the economy, with small businesses likely to be among the hardest hit if the sector does not rebound. This morning, the National Association of Realtors reported that … Continue reading

Posted in Economics, National Real Estate | 130 Comments

Burglary or Good Business?

From the NY Times: In a Sign of Foreclosure Flaws, Suits Claim Break-Ins by Banks When Mimi Ash arrived at her mountain chalet here for a weekend ski trip, she discovered that someone had broken into the home and changed … Continue reading

Posted in Foreclosures, National Real Estate | 78 Comments

Just when you thought it was over…

From the Star Ledger: N.J. Supreme Court intervenes in mortgage foreclosures by six lenders New Jersey’s highest court has stepped in to monitor the filing of real estate foreclosures in the state. Supreme Court Chief Justice Stuart Rabner today announced … Continue reading

Posted in Foreclosures, Housing Bubble, Mortgages, National Real Estate | 128 Comments

Time to go?

From the Baltimore Sun: Mortgage deduction: A sacred cow whose time is up? Fifteen years ago, Carol Nietmann and her husband bought a spacious house in Calvert County near the Chesapeake Bay. And thanks to the time-honored tax deduction for … Continue reading

Posted in Economics, Mortgages, National Real Estate | 141 Comments

October home prices dip

From First American CoreLogic: From Inman News: Home prices decline for 3 months in a row October home prices fell for the third straight month, according to an index maintained by mortgage data aggregator CoreLogic. The 3.93 percent year-over-year decline … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 221 Comments

New Jersey unemployment holds at 9.2%

From the WSJ: New Jersey Sees Private Sector Job Growth New Jersey’s unemployment rate held steady at 9.2% in November and the state gained 10,000 jobs, largely in the private sector, the state labor department said Wednesday. “It’s a very … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 140 Comments

Did you shop around for a mortgage?

From CNBC: Mortgage Shopping 101 Consumers will research on average 3 different models of computers before purchasing one. Why does the real estate correspondent care about computers? I don’t. I’m just throwing out some important background information to make my … Continue reading

Posted in Economics, National Real Estate | 108 Comments

HAMP FAIL

From Bloomberg: U.S. Foreclosure Prevention Program to Fall Short, Watchdog Panel Finds A U.S. Treasury program aimed at preventing 3 million foreclosures is likely to fulfill less than a third of its goal, a congressional watchdog reported. The Treasury’s homeowner … Continue reading

Posted in Foreclosures, Housing Bubble, National Real Estate, Risky Lending | 139 Comments

In foreclosure? No worries, you’ve got time.

From the Wall Street Journal: Banks Struggle To Seize Homes It takes longer to foreclose on homes in New York than any other state—and it’s getting longer every month. Two years ago, the state began requiring that banks and borrowers … Continue reading

Posted in Foreclosures, Housing Bubble | 149 Comments

A shadow looms over New Jersey

From the New York Times: A ‘Shadow Inventory’ Dampens Winter Market NEW statistics provide a glum holiday-time snapshot of the real estate market: shrunken sales pace, bloated inventory and a “shadow inventory” of foreclosed homes looming menacingly in the background. … Continue reading

Posted in Economics, Foreclosures, Housing Bubble, New Jersey Real Estate | 192 Comments