Monthly Archives: January 2011

Wave of foreclosures coming in 2011?

From CNBC: The Foreclosure Dump It’s coming, no question. Today’s report from RealtyTrac serves as a warning to big banks, Fannie, Freddie and local communities; The foreclosure glut is coming, and they’d better be ready to get rid of that … Continue reading

Posted in Foreclosures, Housing Bubble, National Real Estate | 188 Comments

Fed: NJ home prices “flat to declining modestly”

From the Federal Reserve: Beige Book – January 2011 Summary … Real Estate Activity in residential real estate and new home construction remained slow across all Districts. A majority of the Districts, including Boston, New York, Cleveland, Atlanta, Chicago, Minneapolis, … Continue reading

Posted in Economics, New Jersey Real Estate | 113 Comments

They used the “D” word

From CNBC: Housing Market Slips Into Depression Territory As the economy revs back to life, with signs of hiring on the horizon, the housing market is being left behind like Macaulay Culkin in “Home Alone.” In the past few years, … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 156 Comments

Commercial property tax appeals slam NJ budgets

From the Courier News: Piscataway budgets $500G for tax appeals The township will set aside at least a half million dollars to pay for tax appeals in 2011 as property owners continue to contest their assessments amid a depressed real-estate … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 128 Comments

Cleaning up the robosigning mess

From HousingWire: Vermont and New Jersey pass emergency amendments to foreclosure law Vermont and New Jersey recently enacted emergency amendments to each state’s foreclosure law that require a case plaintiff to more extensively validate and verify the accuracy of the … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 124 Comments

“In some cases, it’s even better to have them clear out everything.”

From the NY Times: When a Little Imagination Sells a Home N the photo on realtor.com, there is a settee to the left of a carved wood-and-stone fireplace, a velvet-upholstered armchair to the right. There are leather-bound books on the … Continue reading

Posted in Economics, New Jersey Real Estate | 94 Comments

The New American Ghost Town

From HousingWire: How the Great Recession created ghost towns In Detroit, bulldozers crumple vacant homes left behind during foreclosure by the thousands. Las Vegas developments sit abandoned, and the rapid growth of Stockton, Calif., has screeched to a halt in … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 224 Comments

More price declines forecast for 2011

From HousingWire: Home prices end up 4.1% lower in 2010, more declines ahead U.S. home prices were turbulent through 2010 ending up 4.1% lower than the year before, according to analytics firm Clear Capital. And prices are expected to fall … Continue reading

Posted in Employment, Housing Bubble, National Real Estate | 128 Comments

Uncertainty about recovery

From the Star Ledger: Uncertainty lingers amid signs of hope After staggering the past two years, the state’s economy won’t be able to walk tall again until employers start hiring in a meaningful way. Companies — big and small — … Continue reading

Posted in Economics, National Real Estate | 107 Comments

Zuckerman: Home prices to decline for years

From CNBC: Home Prices Will Decline for Years: Zuckerman Home prices will continue to decline for several years, Mort Zuckerman, the chairman and CEO of Boston Properties, told CNBC Monday. “I’m pessimistic about residential real estate,” said Zuckerman, whose firm … Continue reading

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

Otteau says it’s better to buy

From the NYT: Deciding Whether to Buy or Rent IN today’s market, with uncertainty the sole certainty up ahead, the age-old question — rent or buy? — becomes increasingly perplexing. For example, in New Jersey, where average home values rose … Continue reading

Posted in Economics, New Jersey Real Estate | 127 Comments