Monthly Archives: May 2011

Case Shiller March Home Prices

From Bloomberg: Home Prices in U.S. Probably Kept Falling as Housing Absent From Recovery U.S. home prices probably slumped in March by the most in 16 months, indicating residential real estate will keep weighing on the expansion, economists said before … Continue reading

Posted in Economics, National Real Estate | 147 Comments

Stay off my beach!

From the WSJ: Another Fight on Jersey Shore The quest for easy access at the Jersey Shore could be a thing of the past. State regulators have proposed allowing every town to decide where—if anywhere—to provide parking, bathrooms and other … Continue reading

Posted in Shore Real Estate | 128 Comments

Happy days are here again!

From the Record: “Liar loans” still available, but not for everybody Stated-income mortgage loans, which do not require borrowers to verify their income, came to be known as “liar loans” during the subprime lending bust when many of the loans … Continue reading

Posted in Housing Bubble, New Jersey Real Estate, Risky Lending | 147 Comments

“It is an industrial-strength upgrading.”

From the APP: CEOs more optimistic about N.J. economy New Jersey’s chief executives are more upbeat about the state’s economy than previously, but many plan to cut costs this year, a survey released Wednesday said. The survey, presented at the … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 116 Comments

Who said the high-end was immune?

From Bloomberg: Greenwich’s Priciest Homes Languish With Four Years of Supply It’s been more than 500 days since Stanley Cheslock put his 26,000-square-foot Greenwich, Connecticut, “dream home” on the market for $17.95 million. The house and its surrounding estate — … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 168 Comments

Pessimistic outlook for new home sales in April

From Bloomberg: Purchases of New Homes in U.S. Probably Held Near Record Low Purchases of new houses probably held close to a record low in April, showing the real-estate market remains a weak link in the U.S. expansion, economists said … Continue reading

Posted in Employment, National Real Estate, New Development | 159 Comments

Jersey Shore Triptych

From Fox Philly: Summer Shore Rentals On The Rise As Memorial Day weekend, the unofficial start of the summer season, approaches, most people have their eyes on a Jersey Shore vacation, and some are saying vacation rentals are on the … Continue reading

Posted in Economics, Shore Real Estate | 141 Comments

It’s the end of the world as we know it (and the weekend open discussion)

Flash! Armageddonbow spotted in Northern NJ at 6pm this evening! The end of the world is surely upon us (or G-d just has a sense of humor) This is the time and place to post observations about your local areas, … Continue reading

Posted in General | 111 Comments

So much for April

From the Washington Post: Existing-home sales fall in April Sales of previously owned homes dropped in April, falling short of many analysts’ expectations for this key month of the spring selling season. But the number of households that fell seriously … Continue reading

Posted in Economics, National Real Estate | 151 Comments

April Existing Home Sales

From Bloomberg: Existing-Home Sales in U.S. Probably Rose for a Second Month Sales of previously owned U.S. homes probably rose for a second month in April as investors used cash to buy distressed properties, a reminder real-estate is struggling to … Continue reading

Posted in Economics, National Real Estate | 123 Comments

Congrats to Hunterdon!

From Bloomberg: Hunterdon County, N.J., Has Highest Taxes Residents of New Jersey’s Hunterdon County pay the highest property taxes in the U.S., according to the Tax Foundation. The annual median property tax in Hunterdon, about 60 miles (97 kilometers) southwest … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 154 Comments

Strategic defaults on the decline

From HousingWire: Signs show strategic default on the decline The trend of borrowers choosing to default on their mortgage when they otherwise might have been able to afford payments is on the decline, JPMorgan Chase (JPM: 42.88 0.00%) analysts said … Continue reading

Posted in Housing Bubble, National Real Estate, Risky Lending | 143 Comments

“Not in this decade”

From the APP: Real estate rebound will require jobs, time New Jersey real estate pros are reading tea leaves, searching for positive signs — anything remotely positive, really — that point to a rebound in the state’s tortured housing market. … Continue reading

Posted in Economics, General, Housing Bubble, New Jersey Real Estate | 197 Comments

Buying a house is big news these days

Required reading, from the NY Times: Perhaps Not So ‘Grim’ Anymore BIG news in the virtual neighborhood: “Grim” bought a house. For the last six years, James A. Bednar — or “Grim,” as he is known in the blogosphere — … Continue reading

Posted in New Jersey Real Estate | 265 Comments

Foreclosures continue decline in April

From CNN/Money: Foreclosures down for 7th straight month The number of foreclosure filings issued in April plunged 34% from a year ago — the seventh straight month of declines. And there were just 69,532 homes repossessed last month, a 32% … Continue reading

Posted in Foreclosures, National Real Estate | 217 Comments