Monthly Archives: September 2011

Take Three! (or is it Four?)

From the Asbury Park Press: Developer buys Asbury beachfront site Asbury Partners, the city’s waterfront developer, has bought the unfinished Esperanza high-rise site from Capital One Bank, which had foreclosed on the project, a company official said Friday. The beachfront … Continue reading

Posted in Housing Recovery, Shore Real Estate | 96 Comments

Why aren’t rock bottom rates spurring sales?

From HousingWire: Mortgage interest rates plumb new depths Continued turmoil in the financial markets, stubbornly high unemployment and economic uncertainty keep pushing mortgage interest rates to new depths, according to Freddie Mac. The government-sponsored enterprise said its primary mortgage market … Continue reading

Posted in Economics, National Real Estate | 157 Comments

September Beige Book

From the Federal Reserve: Beige Book – New York Region Construction and Real Estate Residential construction and home sales have remained sluggish but generally steady since the last report, while there has been further improvement in the rental market. Overall, … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate | 136 Comments

Cue bailout attempt #74

From HousingWire: NY Fed economists urge coordinated mortgage, unemployment aid Two economists at the Federal Reserve Bank of New York said states can design successful programs to help unemployed borrowers with monthly mortgage payments only if they are tailored to … Continue reading

Posted in Economics, Foreclosures, Mortgages, National Real Estate | 108 Comments

Will retiring boomers drive the vacation home market?

From MarketWatch: Low prices lure vacation-home buyers Last year, Kelley and Jeff Barton bought their first vacation home in Mammoth Lakes, Calif., a ski-resort area about 350 miles from where they live in Seal Beach, Calif. At $200,000, the condo … Continue reading

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

Buyers reminded of what “flood” really means

From the Star Ledger: Post Irene, houses for sale in flood zones now give buyers pause That house for sale on River Road might be viewed a little differently now by prospective homebuyers. Add to that the storm damages some … Continue reading

Posted in New Jersey Real Estate | 107 Comments

July Contracts Fall Short

From the Otteau Group Home Purchase Contracts Losing Steam Although home purchase contracts in July exceeded the year ago level for the 3rd consecutive month, they appear to be losing strength along with the rest of the economy. During July, … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate | 199 Comments

Hidden costs of stockpiling foreclosure inventory

From the Star Ledger: Even empty N.J. homes need repair post-Hurricane Irene Once a house has gone through foreclosure — and is therefore likely unoccupied — who watches out for it during storms like Hurricane Irene? Even before the properties … Continue reading

Posted in Economics, New Jersey Real Estate | 40 Comments