Monthly Archives: August 2011

June Home Prices – Signs of Recovery or Crap?

From Bloomberg: Home Prices in U.S. Showed Signs of Stabilizing Residential real estate prices in the U.S. decreased in the year ended in June at a slower pace than in the prior month, a sign the market may be stabilizing. … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 89 Comments

July pendings fall from June, but up from last year

From Bloomberg: Pending Sales of Previously Owned U.S. Homes Fell in July The number of contracts to purchase previously owned U.S. homes fell in July for the first time in three months, a sign that lower prices and borrowing costs … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 74 Comments

“Feeling the pains of an old-fashioned recession”

From the Record: Bad loans continue to rise for NJ banks Toxic loans held by New Jersey-based banks continued to climb in the second quarter even as bad loans at U.S. banks declined, according to new government data. The Federal … Continue reading

Posted in Economics, New Jersey Real Estate, Risky Lending | 112 Comments

Hurricane Irene Open Discussion

From the Record: Hurricane warning issued for NJ; Irene weakens slightly to Category 2 From the Star Ledger: N.J. braces for Hurricane Irene’s wrath as officials warn of high winds, heavy flooding and possible power outages From the APP: Shore’s … Continue reading

Posted in General | 335 Comments

Distressed homes are the market

From the Record: A third of homes sold in second quarter were in foreclosure Almost one in three homes sold in the U.S. in the second quarter were owned by banks or in some stage of foreclosure, RealtyTrac reported today. … Continue reading

Posted in Employment, Housing Bubble, New Jersey Real Estate | 196 Comments

Pleas to “hit the number” largely ignored

From Reuters: U.S. housing faces extra drag – low appraisals When Sean McGowan signed a contract to buy a New Jersey home in November, he didn’t expect he’d still be living with his parents nearly a year later. The deal … Continue reading

Posted in Economics, National Real Estate, New Jersey Real Estate, Risky Lending | 111 Comments

Bye bye PMI

From HousingWire: PMI Group units forced to stop writing new insurance The PMI Group’s market share “is going to be eaten up by competitors” in the aftermath of Arizona regulators placing the mortgage insurer under state supervision and curtailing the … Continue reading

Posted in Housing Bubble, National Real Estate, Risky Lending | 120 Comments

“Buyers are beginning to think that if they wait, they’re going to get a better deal in a few months.”

From Bloomberg: Homebuyers Hunker Down as Real Estate’s Drag on U.S. Economy May Worsen Sanjay Jain called his real estate broker four days ago to cancel a deal to buy a three-bedroom home in Folsom, California, unnerved by another plunge … Continue reading

Posted in Employment, Housing Bubble, National Real Estate | 90 Comments

Ease doesn’t mean easy, the majority of short sales are a waste of time

From the NY Times: Banks Ease Stance on Short Sales STANDING by while her mother was evicted from her home in Tinton Falls for the few thousand dollars she owed in mortgage payments in the 1990s had a big influence … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 74 Comments

NY Fed to Jersey: No jobs, no housing recovery

From HousingWire: One in 10 NJ homeowners stuggle with mortgage payments: NY Fed The workforce in New Jersey is one of the nation’s most educated, but residents remain entangled in a web of financial troubles with the state’s delinquent mortgage … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 90 Comments

The vicious housing cycle

From the Atlantic: Home Sales Are Falling: Will Consumers Force a Double Dip? As the bad news continues to pile on, Americans appear to be taking note by closing their wallets. The latest brutal report indicates that home buying demand … Continue reading

Posted in Employment, Housing Bubble, Housing Recovery, National Real Estate | 134 Comments

Stu and Gator single-handedly trigger Montclair reval

From the Montclair Times: Montclair reassessment will impact all property values All Montclair property owners can expect their property tax assessments to change following a reassessment that’s now in progress, some more than others, the company doing the work told … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 91 Comments

And they’re off! (again)

From the APP: 4 banks given OK to resume foreclosures in N.J. Four lenders can resume foreclosing on homeowners who have defaulted on their mortgages after a state judge ruled Monday that she was confident the companies will no longer … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate | 79 Comments

JP Morgan: Bottom only 5% away

From HousingWire: Home prices still poised to drop 5% by early 2012, say JPMorgan analysts JPMorgan Chase stuck to their outlook Friday, forecasting home prices in the U.S. could plunge another 4% to 5%, before reaching a bottom in early … Continue reading

Posted in Employment, Housing Bubble, Housing Recovery, National Real Estate | 83 Comments

What? Fraud here? Can’t be!

From the NY Daily News: Mortgage fraud hits New York City hard as economy tanks and home scams rise With the U.S. housing market down, mortgage fraud is up – and New York is near the top of the heap … Continue reading

Posted in National Real Estate, New Jersey Real Estate | 89 Comments