Monthly Archives: July 2011

Otteau: NJ June contracts show improvement

From the Otteau Group: MarketNews – July 2011 Edition Further evidence of stabilization in the housing market occurred in June as combined purchase contracts for resales and new construction increased by 12% from one year ago. This follows a 13% … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 98 Comments

Pending home sales rebound

From Bloomberg: Pending Sales of Previously Owned Homes in the U.S. Increased 2.4% in June The number of contracts to purchase previously owned U.S. homes unexpectedly rose in June as buyers tried to take advantage of lower prices and borrowing … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 234 Comments

July Beige Book

From the Fed: July Beige Book – Second District–New York Construction and Real Estate Residential construction has remained depressed and housing markets across the District have remained sluggish since the last report, although there has been further improvement in the … Continue reading

Posted in Economics, New Jersey Real Estate | 181 Comments

Why didn’t the price of that great house fall?

From HousingWire: CoreLogic: Nondistressed home prices stabilizing Stabilizing nondistressed home prices, a declining shadow inventory and stronger foreclosure auctions should lead to lower distressed sales and less downward pressure on prices, according to CoreLogic. The report notes that while mortgage … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 143 Comments

Case Shiller and New Home Sales

From Forbes: Ahead of the Bell: New home sales More people likely purchased new homes in June than the previous month, although sales are expected to remain below healthy levels. Economists forecast that new-home sales rose to a seasonally adjusted … Continue reading

Posted in Economics, National Real Estate | 221 Comments

Fannie Mae: Recovery begins in Q3

From HousingWire: Fannie Mae sees light at the end of housing tunnel Home sales in the second quarter of 2011 were bad, according to Fannie Mae. Home prices also remain volatile, moving with gains and losses, over the past two … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 144 Comments

Progress!

Some updates on my reno. Foundation and drainage work is done, grading is complete. We no longer have any grass at all. Retaining walls are up and looking great. Fancy blockwork steps Wall out to the street (trees are now … Continue reading

Posted in Grim's House | 82 Comments

State unemployment ticks up in June, despite added jobs

From the Star Ledger: N.J. unemployment rate grows in June New Jersey added 1,700 jobs in June, but the unemployment rate inched up one-tenth to 9.5 percent as more people reported looking for work. The Labor Department reports that the … Continue reading

Posted in Economics, New Jersey Real Estate | 121 Comments

June Existing Home Sales Dissapoint

From the WSJ: Home Resales Decline Again as Buyers Hesitate Existing-home sales in June fell to a seven-month low, and the number of contract cancellations soared, signaling that buyers are rethinking home purchases amid national economic uncertainty. Sales decreased 0.8% … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 193 Comments

Why does the American Dream need to include a deed?

From Pimco: Are There Any Rungs Left on the Housing Ladder? From HousingWire: Homeownership no longer an aspirational goal: PIMCO The idea of homeownership as an aspirational goal may no longer carry much weight as college graduates enter the work … Continue reading

Posted in Economics, National Real Estate | 143 Comments

And they’re off!

From the Star Ledger: Paramus bank the first to meet new court foreclosure filing standards Hudson City Savings Bank is in compliance with the state court’s new mortgage foreclosure filing standards, according to a July 12 document that was made … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 150 Comments

Wrist slapping delayed a few weeks

From the NY Post: Mortgage megadeal is still weeks away America’s biggest mortgage servicers are still weeks from reaching a potential multibillion-dollar deal with federal and state officials to settle the foreclosure fiasco, The Post has learned. Key sticking points … Continue reading

Posted in Foreclosures, Housing Bubble | 124 Comments

Bubble sitters just as unrealistic

From MarketWatch: Post-bubble buyers more likely to overprice home People who bought their homes after the housing bubble burst are more likely to have an unrealistic view of their home’s worth than those who bought before the housing downturn, according … Continue reading

Posted in Economics, Housing Bubble | 104 Comments

“Homeowners need to price their homes right or they won’t sell”

From the Chicago Tribune: Pricing a home to sell in today’s market During the housing boom, many real estate agents found it extraordinarily tough, if not impossible, to come up with even ballpark asking prices for their listings. “Values were … Continue reading

Posted in Employment, Housing Bubble, National Real Estate | 229 Comments

Kicking the can, prolonging the pain, delaying the inevitable, the new American Way

From CNN Money: Foreclosures plunge in first half of 2011 Foreclosure filings fell dramatically during the first half of the year as processing delays at the banks, which are strapped with excess inventory of repossessed homes, continued to skew the … Continue reading

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 189 Comments