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 necessities for families packing up and heading to the beach, frustrating people who were hoping for stricter policies that would force towns to accommodate sun-worshippers. Towns’ plans would need state approval.

It’s a reversal from a Corzine administration policy that tried to create standardized rules, such as requiring towns to provide round-the-clock parking and public facilities every half-mile. The state was paying for shore maintenance, and courts had ruled beaches are open to the public up to the high water mark.

But those rules were struck down in 2009 after the town of Avalon sued, and the New Jersey Department of Environmental Protection is trying a new approach.

State officials promise access will be the same, or better, and they say they’re frustrated with claims to the contrary. Towns will have the option to supplement statewide regulations that require new developments to have access points.

Still, some say it’s just wrong for towns to all but block beaches and waterways that belong to the public. It’s not simply about walkways or openings to the sand. In essence, parking and bathrooms contribute to truly open access, said Helen Henderson, a policy advocate with the American Littoral Society.

“That’s not something that the DEP can remove, any more than they can the right to free speech,” she said. “We have these fundamental rights that exist.”

Mr. Cantor said there were a handful of towns that people complain about: Sea Bright, Deal, Loveladies, Mantoloking and some sections of Long Branch. He said the state is working with those towns to create plans. Towns that don’t comply could face stricter and more expensive permitting, as well as be ineligible for applying for certain state funds. Some of those penalties are not in current regulations, but will be included soon, he said.

That’s not good enough for Ms. Henderson.

“We don’t trust them, and we don’t trust the municipalities to do right by the people,” Ms. Henderson said. “That opportunity has been there in the past and it hasn’t been fulfilled.”

From CBS2:

Proposed Beach Access Changes Along Jersey Shore Drawing Mixed Reaction

To some New Jersey beachgoers, it’s like getting sand kicked in their face.

A new proposal may allow individual shore towns to determine rules for beach access, and that means shore-lovers could get shut out of their favorite beaches, reports CBS 2′s Christine Sloan.

While people will have no problem lying out on the beach for this Memorial Day Weekend, environmentalists said that by the end of the summer, they may have a tougher time getting on the more exclusive beaches in New Jersey.

The state’s Department of Environmental Protection wants to relax rules, allowing shore towns to create their own beach access plans.

“The rule proposal gives more power to the towns, and we think it’s a mistake because historically, some towns – only a handful – have restricted beach access,” John Weber said.

Weber, who works with an organization called Surfrider that’s fighting the proposal, pointed to exclusive towns like Bay Head and Mantoloking. He said they’ve made it difficult to use their beaches by providing little parking, no bathrooms and excessive rules.

If the proposal goes through, Weber said, they could have more power to limit access.

Tourist Emily Wilson said she sees nothing wrong with that.

“It’s nice to have a sense of community, where you go on the beach and know it’s only your neighbors or people renting your neighbor’s house,” she said. “It keeps it nice and private.”

This entry was posted in Shore Real Estate. Bookmark the permalink.

128 Responses to Stay off my beach!

  1. Mike says:

    Good Morning New Jersey

  2. 3b says:

    From yesterdays post. Everyone I know who bought a house in 2000 or before, has at least one HELOC, some two or more.

  3. Kettle1^2 says:

    Foxnews debating inflation. According to rhe commentator since the average cost of cars and computers are down the average Joe is better off. Per him the price of food staples going up is more then offset by cheap cars and pc’s

  4. Kettle1^2 says:

    3b
    you were considered stupid for not taking helocs. It was considered free money since housing only goes up.

  5. Chuchundra says:

    It wasn’t that long ago that some financial “professionals” were still arguing that having a lot of equity in your home was a bad investment. You should be taking that money out of your house (i.e. HELOC) and invest it in something with a better return.

  6. vodka (3)-

    You are a dolt. Don’t you know how to braise an iPad?

  7. Kettle1^2 says:

    Bc

    From last thread: didn’t anyone tell you that is just a bubble.

    Realistically the pensions can’t move into metals large scale without crashing the $

  8. chu (5)-

    Yep. Everybody knows the real rate of return on a Disney trip, Hummer or Carnival cruise beats building equity in RE.

  9. Sorry; should’ve included jetskis on that list.

  10. gary says:

    I got an email from a realtor that stated that prices have bottomed and the savvy buyers are entering the market. The realtor stated that now is the time to buy because prices are set to rise quickly. Discuss.

  11. Kettle1^2 says:

    Gary

    Please name one time the NAR did NOT claim it was a great time to buy. That is no different then consistently placing every trade long in your portfolio

  12. Kettle1^2 says:

    Chuc

    in 06 I was berated by a commercial RE CFO for not buying a home and leveraging up to as much as I could get from the bank.

  13. Kettle1^2 says:

    At least it’s nice and cool at ewr today

  14. Juice Box says:

    I am going to practice some Zukerberg Santaria and kill a few lobsters tomorrow.

  15. jamil says:

    sycophant sastry, prev thread:

    So you claim that Barack Hussein is super smart and your evidence is that …he went to Ivy League? I’m amused that leftists always talk about the intelligence of BO, and it always comes down to Ivy League. So according to this logic, he is as smart as, say, GWB or Mitt Romney.
    His grades are state secrets. He was in in third rate regional communite college and then got transfer to Ivy League. Do you think it was because:
    1: He was super smart, or
    2: He was a black marxist and hence, perfect affirmative action quota candidate?

    Yeah.

  16. jamil says:

    sycophant sastry, prev thread:

    So you claimed Palin is a “vicious racist moron”. You should apply MSNBC position. There should be an opening for sycophant Barack adoring lefty now that Shore Guy got kicked out to Current TV.

    Let me guess. Your evidence is that ..she is a non-marxist, hence, she is a vicious racist moron? You are a caricature of a leftist, you know that?

    I bet you did well in high school debate team. Your brain activity (as well as ethics) clearly is worthy of MSNBC or New York Slimes full time position.

  17. jamil says:

    Back to housing. Fannie Mae update, nothing to see here.

    http://washingtonexaminer.com/opinion/columnists/2011/05/barney-franks-friends-benefits

    “If you want to watch a corruptocrat start sputtering like Porky Pig with allergies, confront him with three simple words: conflict of interest. Asked this week about his role in securing an ex-lover’s highly coveted job at government mortgage giant Fannie Mae, Massachusetts Democratic Rep. Barney Frank retorted:

    “Aba-dee aba-dee aba-dee aba-dee.”

    Or that’s what it sounded like, anyway. Frank was rather miffed about the recent disclosure that he helped former lover Herb Moses land a job with the behemoth lender while sitting on a House committee that regulates lenders a decade ago. The Boston Herald reported Thursday that Frank immediately invoked the Everybody Does It card: “It is a common thing in Washington for members of Congress to have spouses work for the federal government. There is no rule against it at all.”

    Frank then switched to the Everybody Knew defense: “It was widely known. It was out there in the public.”

    Next, he dismissed any controversy about his ethical judgment with the Nobody Cares shield: “It’s nonsense.”

    No doubt he’ll spring the Homophobia Card on critics at an opportune moment to ice his multitiered cake of excuses.

    Funny thing. Not too long ago, it was Frank himself counseling fellow Democratic scandal magnet Rep. Maxine Waters to butt out of Boston-area OneUnited Bank’s bid for $12 million in federal TARP bailout funds because of conflict-of-interest odors. Waters’ husband, Sidney Williams, was an investor in one of the banks that merged into OneUnited and owned stock holdings estimated at $350,000.

    Frank’s exact words to Waters: “You should stay out of it. … You should stay away from this.””

  18. 3b says:

    #10 gary: There is a place…….. Would you like me to continue???

  19. 3b says:

    #4 Correct. So many of those buyers too are up the creek without a paddle too. Because prices are still falling every day!!

  20. Mikeinwaiting says:

    While everyone one was getting a heloc I was selling, HaHa….HaHaHa………….hysterical evil laughter.

  21. Comrade Nom Deplume says:

    (13) ket

    Cool in Anaheim too. And San Diego. Cali may be sunny, by it ain’t warm.

  22. Comrade Nom Deplume says:

    Should be but. Fcukng android

  23. Comrade Nom Deplume says:

    (15)

    Sas3, I would not take that bait. Jamil is colorful and conclusory, but not without a foundation in fact.

  24. Mikeinwaiting says:

    Gary 10 It is a great time to buy & prices are headed where. These people really need something new they are already swimming naked at low tide. Do Realtors believe the horse crap they are putting out I wonder, might have more respect for them if they just said we are lying but the kids gotta eat.

  25. Mikeinwaiting says:

    Nom 23 well said, now for the vernacular: Sas3, Jamil may be an a-hole most of the time but he has you by the b*lls on this one.

  26. Kettle1^2 says:

    Mike in waiting

    …….hysterical evil laughter…….
    http://youtu.be/8Jwm_-bvycs

  27. Mikeinwaiting says:

    Ket going with 27 Mark Hamill.

  28. mob says:

    Unfortunately, the proposed access rule change not only proposes to put management of access into the hands of the local government but also eliminates most of the current standards for access along urban waterways. access along the Hudson River (24/7) currently is not proposed to change but there is already talk of changing the Hudson River Standards as well.
    The proposal does not contain any standards for fishing access along the beaches and it specifically removes the requirement for towns to provide or enhance public access in cases where the town receives state monies for beach fill operation. Think spending tax dollars on situations where all of the public can not have a benefit is a prudent use of your tax dollars?
    Just to put a number on it, the Office of Coastal Engineering receives 25 million a year for shore protection and maintenance/dredging activities of coastal waterways.
    The rule as written is not a good regulation.

  29. Fabius Maximus says:

    #15 Jamil

    Regardless of how they got in, be affirmative action or daddy and granddaddys ties to the endowment committee, what counts is what goes on the lambskin at the end of it.

    A C level BA in History even from Yale is not much to write home about. A JD from any school is a better acheivement (and I applaud you all). A JD magna cum laude from Harvard is in the words of Joe Biden is a BFD.

  30. mikey (24)-

    NAR- and most Realtors- cannot form even one coherent thought. That’s why the banksters are using this crisis of insolvency to drive the entire sales mechanism of our industry back to the Stone Age.

  31. Fabius Maximus says:

    Jamil,

    Now that you are back can we have your great insight into last weeks special election in NY district 26. Is this another case of the local GOP putting up another of these soft candidiates?

    Have you got your Palidino 2012 bumper stickers ready?

  32. Comrade Nom Deplume says:

    (31) fabius

    Hardest thing about HLS is getting in.

  33. Fabius Maximus says:

    Clot,

    United, may have won the league, but todays result makes the season seem not that bleak. At least we beat Barca at home.

  34. Comrade Nom Deplume says:

    OT Alert. Just did the soarin’ ride at Disney. Wow. I don’t know how they did that. You really feel the movement. I know a portion is essentially an illusion, but it is incredibly realistic.

  35. Fabius Maximus says:

    #35 Nom,

    I’m sure it is, but that competition for that brass ring of top place must be fierce?

  36. Comrade Nom Deplume says:

    (31) fabius,

    And cum laude is not that big a deal, especially at Harvard where everyone gets it.

    Attorneys use the school’s rank and class rank to evaluate. And school rank is used defensively.

    BTW, magna cum laude, 7th of 133 in my class, yet it is largely meaningless in my view.

  37. Comrade Nom Deplume says:

    (38) fabius

    It is, but it is more random than most know. It isn’t grades and LSATs.

  38. Dissident HEHEHE says:

    Nom,

    “It is, but it is more random than most know. It isn’t grades and LSATs.”

    Agree wholeheartedly. I am still perplexed at some of the schools I was readily accepted into and those I was waitlisted. It had no rhyme or reason to it. Fortunately I wanted to stay in Ohio and all the state law schools there have much better reps than the private schools.

    I did not attend an Ivy League law school but I can vouch from conversations with many associates that the hurdle is just getting in the door; once in the grades don’t mean much. Hell I don’t even think Yale has a grade system other than pass fail.

  39. gluteus (36)-

    Catching the best on an off day at the Emirates is a nice win, but your team is in serious trouble. Unlike SAF, Pep or Mourinho, your manager would rather save money, develop young players and play too high up the pitch than simply win games.

    How hard or expensive could it be to get a big, mean English center back to play next to Vermaelen? That is about all you guys need, but Wanker refuses to admit it.

  40. morpheus says:

    Oh …..F**K. sorry nom…I will not discuss my class ranking. Much too sad of a subject. Enjoying cali I assume. hope to take the boy fishing today. should be fun.

  41. The ultimate insider trading gang: Clowngress.

    “That insider trading in Washignton occurs with a greater frequency than at Galleon is no secret. Courtesy of various loopholes, members of both the House and Senate have long been allowed to trade on inside information, something that grabbed the media’s attention when back in November 2005 someone, somewhere sent the stock of USG Corp., W.R. Grace & Co., and Crown Holdings higher even though there was no public information. Only later would it become known that then-Senate Majority Leader Bill Frist would deliver a speech announcing new legislation to relieve companies of asbestos litigation. Subsequent studies (such as Ziobrowski et al’s 2004 paper “Abnormal Returns from the Common Stock Investments of the United States Senate.”) confirmed substantial market outperformance by members of Senate. A few days ago, Ziobrowski et al, have released a follow up study “Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives” which confirms that not only do congressional critters consistently outperform the market, but does a granular analysis of just who it is in congress that should consider leaving the public arena, and raising capital to start their own hedge fund: simply said, junior, democratic congressmen beat the market by roughly the same amount, with the same consistency (and probably with the same Sharpe ratio) that allows SAC to charge 3% and 35%.”

    http://www.zerohedge.com/article/why-hedge-fund-comprised-junior-congressional-democrats-should-outperform-market-9

  42. I came in #1 in my class in consumption of grain alcohol.

  43. Mikeinwaiting says:

    Hobo 45 That’s because you were a year ahead of me, other wise I would have given you a run for your money.

  44. 30 Year Realtor says:

    Got on the GSP yesterday morning at 9:15 AM at 163 in Paramus. Got off exit 98 about an hour later without hitting any traffic. Around noon parked directly in front of the boardwalk in Bradley Beach at a metered space. Drove back north around 8 PM and didn’t hit a bit of traffic.

    Bradley Beach was crowded, but not a mob scene. Based upon the news reports and AAA’s predictions I thought it would be a heavy traffic weekend on the GSP. What’s the deal? Is this a big Memorial Day weekend for the Jersey Shore or is it a bust?

  45. gary says:

    The only thing I give Oblammy credit for is greasing that f*ck in Pakistan. It happened on his watch so he gets props. Other than that, his domestic policies have been a f*cking disaster. I don’t want hear about Bush or Palin or any of the other bullsh1t socialist utopian chants. And some of you have said the Fox news chicks look plastic? I’d rather spend some “time” with them than have Rachel Maddow secure a strap-on and get pounded up the @ss.

  46. Mikeinwaiting says:

    There are bears coming out of the woodwork this weekend of on Seeking Alpha, guy with like 20 charts (impressive), a 12 step 2 part (reasons why) tirade, I don’t know maybe you quite drinking after reading it too. More telling is the bull (Why Home Prices Won’t Fall Much Further), goes on about construction down ex units for years ,household formation etc etc…….. his bull call 10-15% decline from here 20% at the most (read comments). Well Ok I’ll go with the bull & split the dif let use say 12%, that would rock their world in my area they are so under water now.

    http://seekingalpha.com/article/271734-why-home-prices-won-t-fall-much-further

  47. Mikeinwaiting says:

    I just “F” en refuse to grill today been over that thing for 4 days, lord knows tomorrow is a given. Somebody better put on a pot of gravy (yes it is gravy not sauce) or throw in a meatloaf Dad is on strike today!

  48. Mikeinwaiting says:

    30 yr 47 Brother in LBI said it is packed, just what I heard.

  49. gary (48)-

    Thank you for that heartfelt holiday sentiment.

  50. mikey (52)-

    Maybe one of your neighbors can bring you over a possum or a squirrel to stew.

  51. jamil says:

    Fabius: “Now that you are back can we have your great insight into last weeks special election in NY district 26. Is this another case of the local GOP putting up another of these soft candidiates?”

    You cannot be accused of inconsistency, carrying the water for the Chosen One. Glad that double-digit unemployment numbers (eh, funemployment is State Media) has not depressed you. You are right. This means, just like special election for Murtha’s old sead and upstate NY Scozzafava episode, that liberals are winning the debate. As Pelosi correctly claimed after these wins, it is evidence of that.

    In a three way race, GOP and Tea Party candidate got more votes than the Dem candidate. Obama team spent millions and sent busloads of activists there. They created fake “tea party” to divert votes from GOP candidate. Yeah, Nancy will be back as the Speaker, this is surely the evidence.

  52. jamil says:

    fabius:
    Has Obama done anything that can be claimed as intelligent? Has he correctly identified the number of US states (hint: 57 is not the correct answer, though, interestingly, Organisation of the Islamic Conference had 57 states).

    Even his grades are closely guarded state secret (unlike any other politician’s, certainly conservative policitian’s).

    Did he take over failed olympic bid/company/housing project with gov grants and turned it over and made it successful with his high IQ? Or any project or anything?
    It always comes down to his time as an Ivy League affirmative action quota baby, with the right political connections.

    As for getting a degree from Ivy League: Seriously, what are the odds that a black marxist could be kicked out of Ivy League? The whole campus (and city) would have been burned down as a result of that, no matter what the student did or did not do.

  53. Mikeinwaiting says:

    Hobo 55 That would be just fine!

  54. Neanderthal Economist says:

    miw, cool charts but talk of a national housing market is misleading, and all of those charts are national. I’d guess that 80% of all price corrections are occuring in four states, not ny/nj. Unfortunately some falsely assume that ny/nj has to drop even more to ‘catch up’ with national…

  55. A.West says:

    I was just hearing that the Chinese in Atlanta are all turning into slumlords. My sister in law and all her friends says she’s buying houses for $20,000 and renting them out for $500/month. She’s counting on middlemen to do all the dealings with tenants, repairs, etc. She knows she should be setting these houses up within a LLC to avoid future legal liabilities, but don’t think she’s done it yet.

    I told my wife we don’t want anything to do with it. I’m not sure these Chinese know the realities they may someday have to face in dealing with people who live in $20k low rent houses. Sounds like what they think they are doing is renting out their credit lines (to buy houses), in return for effortless income, and potential home price appreciation. I say they better really trust that their “friends” who are doing all the day to day work will take care of everything when a house catches on fire from a meth lab blowout.
    I don’t doubt that people can make money renting out properties, but I do doubt that it will be effort/trauma free.

  56. sas3 says:

    Fabius, please do give a pass to Jamil. He’s just out of mourning UBL’s death, and he thinks he is Keyser Söze looking for revenge against people that felt good about UBL’s death.

  57. sas3 says:

    Nom/Mike: Becoming editor of Harvard Law Review is a BFD. Politics aside, don’t you think he is very intelligent? I’d say Clinton was probably more intelligent. Rove and Ailes are probably in the same range…

  58. sas3 says:

    Gary, you have good taste in women. You must definitely love Snooki and Paris.

  59. Mikeinwaiting says:

    Sas3 62 I’d tale Clinton back in a NY minute. Intelligence well yes , a good president NO.

  60. Mikeinwaiting says:

    tale = take

  61. Mikeinwaiting says:

    Veto 59 yes a lot of cool charts no doubt. All Re is local come up my way 35-40 % and still retreating. I am in NJ & the charts are on for me.

  62. yuypzwq says:

    5q237z ytbnqtfgkkas, [url=http://rggekkpiekjg.com/]rggekkpiekjg[/url], [link=http://vghpcihskriu.com/]vghpcihskriu[/link], http://zlljckmfgmfz.com/

  63. Shore Guy says:

    If you ever have a feeling someone is watching you, you may be onto something. Somehow, I don’t think that our war dead died for this:

    http://www.wired.com/dangerroom/2011/05/secret-patriot-act/

  64. Neanderthal Economist says:

    Paterson and trenton are down 30-40% too. None of which are places that 80% of nj residents want to live. With the new underemployment and high gas prices, your area is no longer feasible for most people. Unfortunately my town and most within commutable distance without gangs in schools, prices are only down 10-15% I would guess.

  65. Mikeinwaiting says:

    Veto 69 I hear you I am out there, if you can find work fairly local this area works, it is a beautiful place to live.

  66. Just watched the CL final again. What an absolute beatdown.

    Puyol giving the armband to Abidal was a classic. Not hard to understand why they are the best ever.

  67. Neanderthal Economist says:

    “What an absolute beatdown.”
    Indeed. What a great team. I kept counting players, barca seemed to have three extra.

  68. Fabius Maximus says:

    #56 Jamil

    “In a three way race, GOP and Tea Party candidate got more votes than the Dem candidate. ”

    I think you might just be coming to your Akbar moment, when the penny drops and the world finally comes into focus and you finally get it. Three safe (???) GOP seats fall in a row, Is not O and the Dems are winning, its that the the GOP and the conservative movement cannot put together a credible oposition. The GOP unleashed the right an are now paying the price. And they will keep paying until 2020, when you see the next GOP candidate with a shot of winning.

    But lets not get to far ahead here. Have some right wing spin to calm your nerves, http://www.americanthinker.com/blog/2011/05/the_silver_lining_behind_the_n.html

  69. jamil says:

    61 sastry
    This is best you can offer? Would be fun to watch your high school debate performance.

  70. jamil says:

    73
    You are so right. Ps murtha and Didi seats went for dems in 2009 and jubilant state media claimed those as evidence how popular dems are. Any idea how things turned out in 2010? Apparently, this was news to you.

  71. Mikeinwaiting says:

    Here we go again, the ongoing Greek tragedy.
    “The IMF today dismissed a report that Greece has missed all the fiscal targets agreed under its €110B bailout plan. The IMF’s denial follows that of Greece yesterday. Meeting the goals is a condition for the country receiving a key, fifth tranche of the bailout. ” Yea, OK whatever you say.
    http://seekingalpha.com/currents/post/77756

    Check out the comments some interesting info.

  72. Fabius Maximus says:

    #61 Sas3

    I wonder how many people here realise how Jamils positions are such a sell out of his heritage.

  73. Fabius Maximus says:

    #71 Clot

    Sad thing is,if they don’t get the debt under control in 2-3 years they will do a Leeds.

  74. Al Mossberg says:

    Pretty busy at the shore. Not the 1990’s but its busy. Most of the classy folks are running from the N Jersey cheese dick invasion.

  75. Al Mossberg says:

    Pretty soon we will be back to our agrarian roots. The time is not far off. Save some bass for the future.

  76. The Original NJ Expat says:

    Who buys a house on a street named Sell?

  77. Shore Guy says:

    30-year,

    You didn’t have any Garden State Parkway Blues?

    BC,
    Are you familiar with the tune?

  78. Shore Guy says:

    BC,

    Enjoy this peek back at Steel Mill days:

    http://www.youtube.com/watch?v=611ANpbkkWs

  79. Shore Guy says:

    BC,

    Here is something done not all that long after I first saw Bruce in November of 65:

    http://www.youtube.com/watch?v=I26YiePA3iM

  80. Shore Guy says:

    If you have a daughter, read this and weep:

    http://www.nytimes.com/2011/05/26/opinion/26kristof.html

  81. guest1 says:

    Teaneck – 3,660 SQ’ 5BED/3BATH heigh ceilings, etc. sold for $368,500 from a list of $599,000? wtf? Zillow shows the property was listed at $599K.

    Is this common in Teaneck or unusual? I would have bought this house had I any hint it could be bought this cheap. I feel stupid that I omitted considering properties priced at $599K when I am looking to spend under $400K.

    http://www.trulia.com/homes/New_Jersey/Teaneck/sold/20237269-393-Beech-St-Teaneck-NJ-07666

  82. 3b says:

    #69 ALthough poor jet believes otherwise, prices in my blue ribbony train town close to NYC, are down about 20% from peak.

  83. Neanderthal Economist says:

    Guest1, there are many here who have been expecting those kinds of price drops. Maybe its a harbinger of things to come? Or maybe it has termite damage and a leaky oil tank buried in the back yard located one house from route 4…

  84. 30 Year Realtor says:

    #87 Guest – The list price at sale was $425,000 according to NJMLS. I was in that house last fall. No way that the listed square footage is correct. Corner lot with no back yard. Photos are deceptive.

  85. 3b says:

    Spring Lake yesterday, flew down the parkway, flew home. Beach was not too crowded, but not empty. Great day all around. Oh and everything is for sale there.

  86. 30 Year Realtor says:

    With regard to price fallout since peak, on average in good areas it is around 20% in North Jersey. Homes with more faults like busy street location, undesirable topography, odd layouts, noise or highway impact, etc… are down considerably more than more typical homes.

    The feeding frenzy in real estate created a market where inherent defects were overlooked. This is no longer the case!

  87. Neanderthal Economist says:

    3b, if you can produce just one 4/2 comp that shows a 20% reduction, id believe you.
    Besides, I was told prices are up 26%.

  88. Neanderthal Economist says:

    30, 3b,
    I don’t really doubt that there are some homes selling for 20-25% discounts in decent areas, but let’s not overlook the ones selling for only 10% discounts in those same towns. Thus when you take an avg its not as bad as the comp killers suggest. Said another way, you can’t cherry pick the comps to the upside or downside…

  89. Mikeinwaiting says:

    Bide your time Vets, it is not getting any better. Let the magic of increased property taxes, higher rates (1-2 yr down the road) & demographics do the work for you . Did I mention unemployment. I know waiting so long is a hard pill to swallow, but you will be rewarded.

  90. Neanderthal Economist says:

    Oh definately mikey, no doubt we’re going to get there…

  91. Kettle1^2 says:

    Juice

    CIA has warned of a possible greek military coup if the austerity games and protests continue.

  92. 30 Year Realtor says:

    #94 Neanderthal – At this point I feel close to 20% is an accurate overall number for the North Jersey suburban market. In Bergen for example, Tenafly may be off 15% and Bergenfield 25%. Both suburban communities, but one more desirable than the other. If you only take the median priced homes in top condition, in top towns and in the top neighborhoods with a garage, C/A/C and 2 full baths, I’ll say you are right about the 10%. But then who is the one cherry picking? I believe that would be you.

  93. NJCoast says:

    I was cringing as I took my mom to Newark Airport yesterday early morning, but sailed back to the shore. The poker table is set up and drinks are flowing at the beach. Cheers!

    And thanks to our servicemen and women who have sacrificed for us all.

  94. Neanderthal Economist says:

    “Median priced homes in top condition, in top towns and in the top neighborhoods with a garage, C/A/C and 2 full baths, I’ll say you are right about the 10%.”
    30, im trying not to cherry pick by looking at all sales not just comp killers. it seems that strong towns with decent schools are only down 10%. Meanwhile, inner cities, fixer uppers, mcmansions, uber rich towns, long commutes and blue collar towns with gangs in schools are where prices are down 30-40%. Thus the overall ny/nj cs average is down 25%. But most people here want/need the strong schools and decent demographics, and unfortunately they’re only getting 10%-15% discount right now.

  95. Neanderthal Economist says:

    Grim prob got 30-40% from peak but he’s not afraid to renovate.

  96. Mikeinwaiting says:

    Veto I’m with you on renovation it is a PAIN, even with my skills (Wd Flrs) & knowing just about everybody in every trade very well I shy away from it.

  97. juice (97)-

    Lehman all over again. Except this time, it will end in gunfire.

  98. Mikeinwaiting says:

    Hobo 104 in this case I would say you are not exaggerating, Greece is going to get very ugly.

  99. RayC says:

    http://www.nytimes.com/2011/05/31/business/31housing.html?hp

    Housing Index Is Expected to Show a New Low in Prices

    From the NYT – feels like year 27 of what they call the downturn. I prefer return to sanity.

  100. Neanderthal Economist says:

    Ray, nice article.
    “For many households in many years, renting and investing the saved cash flow has built more wealth than homeownership,” the economist, Jordan Rappaport, concluded.”

  101. Libtard says:

    Met the real life Mikeinwaiting up in Sussex today as he had a connection for me to get the AC on ‘Old Reliable’ working for me again. He’s a real stand-up guy. Can’t thank Grim enough for the great connections I’ve made on this blog as well as the plethora of good recommendations that have been shared. Been way busy with the two homes lately and will probably continue to be buried through July 1st when we expect to get renters in. Good night New Jersey!

  102. Neanderthal Economist says:

    Sure sign of gold bubble…
    “Susan Lindsey, a San Diego software programmer, was once eagerly waiting for the housing market to crash. She said she would have no guilt about swooping in on some foreclosed owner who had bought a place he could not afford. With prices now down by a third, however, she is content to stay in her $2,500-a-month rented house. She prefers to invest in gold, which she has been buying since 2003.”

  103. sas3 says:

    Thanks to those that served and made big sacrifices for the country.

    Need to vent this out… Too many f’ing “memorial day sales”. Didn’t want to go out shopping, but had to run to Home Depot because a driver bit got lost. A disturbing sight seeing so many shoppers.

  104. mikey (105)-

    You can count on it. Their whole society is already swimming in fraud, tax evasion, money laundering and casual violence. Going batshit crazy is going to come very easily to them.

  105. lib (108)-

    Did he serve you squirrel meat and try to pass it off as chicken?

  106. veets (109)-

    Anybody averaging into gold beginning in ’03 has got the sense to be hedged to a BC Bob-type level.

  107. Easy and cheap to insure a long-term position in gold.

  108. Libtard says:

    Nope…but he did make Cap’n Cheapo proud in that he suggested I get a free bite to eat at the Franklin Sussex Automall since they were having some kind of Memorial day bash. We opted for a diner that pretty good and pretty cheap!

  109. Uh oh…looks like the Germans are gonna kill shot Merkel’s career to bail out Greece yet again.

    http://www.zerohedge.com/article/germany-humiliates-itself-conceding-second-greek-bailout-eur-predictably-jumps-briefly

  110. Libtard says:

    As to that Beach Street home in Teaneck, my best man used to live about 300 feet from that home on Oakdene. He couldn’t stand the neighborhood. Said for every good neighbor, there was one equally as trashy. He is now very content in Little Falls.

  111. I can well envision the delectable free fare at the Franklin Sussex Automall.

  112. Shore Guy says:

    “She said she would have no guilt about swooping in on some foreclosed owner who had bought a place he could not afford. ”

    Why should she? The person feeling guilty shou;d be the one who spent someone elses money and then did not repay it.

  113. Shore Guy says:

    ;=l, today

  114. Shore Guy says:

    “delectable free fare at the Franklin Sussex Automall”

    Don’t even think of asking them what kind of oil they use for the fries.

  115. Personally, when I travel in that part of the world, I make it a point to dine at Hot Dog Johnny’s in Buttzville.

  116. All Hype says:

    Doom (116):

    You gotta love the Greeks here. No intention of ever meeting any austerity measures and they get more money!

    The solution to debt is obviously more debt. What the hell could go wrong?

  117. Shore Guy says:

    Hype,

    Our congress and the Empty Suit in Chief calls it stimulus, not debt. The result is the same.

  118. Shore Guy says:

    So, Tressel is out at OSU. That, plus ther likely probation coming to Columbus, should keep the Buckeys from contending for the conference crown. While I suspect the folks in Ann Arbor are jumping for joy at the moment, once Nebraska rolls into town and lays a hurting on them, the Wolverines will not be smiling as the new guys in the league win the conference championship. Scarlet and cream goes with everything.

  119. Shore Guy says:

    ther=the

  120. Pat (that is) says:

    sas3, we all have a somebody we lost. Maybe somebody we used to drink with at ‘the Happy’ and then they only found a wristbone on at WTC. Maybe we were out on maternity leave and have the guilts.

    My almost-ten-year-old kid caught her own fish yesterday and I’m proud of my non-geek husband. So, I got this malware. Yeah, sue me, I tried to watch the elephant movie from some foreign site. Anyway, he’s always busy watching baseball and stuff like Pawnstars. I’m O.K. with the situation and have no high expectations.

    But this weekend, we’re up at the lake and and I got no firefox exe, no go on chrome, etc. and he suddenly remembers this thumbdrive under the seat with this malware thing on it.

    Doesn’t he fix my damn Dell.

    Memorial Day is a time to remember and a time to create new expectations.

  121. Shore Guy says:

    Ket,

    Suspect???!!

    “Tokyo Electric Power Co (TEPCO) detected levels of 2 million becquerels of radioactive caesium per cubic centimetre of water in the basement of reactor 1. TEPCO suspects that radioactive materials from the melted fuel have leaked from the reactor’s pressure vessel. ”

    http://www.monstersandcritics.com/news/asiapacific/news/article_1642478.php/More-highly-radioactive-water-at-damaged-Japanese-nuclear-plant

Comments are closed.