Monthly Archives: October 2011

Only thing better than a double dip, is a triple dip

From CNN/Money: Home prices heading for triple-dip The besieged housing market has even further to fall before home prices really hit rock bottom. According to Fiserv, a financial analytics company, home values are expected to fall another 3.6% by next … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 76 Comments

Snoctobergeddon Open Discussion

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading

Posted in General | 96 Comments

September pending home sales up YOY, but slip on the month

From Inman: Pending home sales index rises from one year ago A monthly index that tracks pending sales of U.S. resale homes rose in September compared to a year ago, while falling on a month-to-month basis, the National Association of … Continue reading

Posted in Employment, Housing Recovery, National Real Estate | 119 Comments

One one hand, it’s not getting any worse, on the other, it’s not getting any better

From NJBiz: N.J. home sales flat as U.S. data show improvement Sales of new single-family homes in September were up 5.7 percent from August, but 0.9 percent lower than September 2010 sales, according to estimates released by the U.S. Census … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 160 Comments

NJ/NY Metro prices down 3.4% in August

From the Record: Home prices dropped 3.4 percent in August What’s new: Home prices in the New York metropolitan area, which includes North Jersey, dropped 3.4 percent in August, compared with August 2010, the Standard & Poor’s/Case-Shiller index reported on … Continue reading

Posted in Housing Bubble, Housing Recovery, New Jersey Real Estate | 148 Comments

Relationship between taxes, services, and debt too complex for Jersey taxpayers to grasp

Fallacy: The taxes we pay this year, pay for the services we use this year. Taxes will continue to rise because we need to pay for services consumed in earlier years. The amount of taxes paid in a single year … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 103 Comments

August Case Shiller Predictions

Where do you think home prices went in August? From HousingWire: Zillow: Case-Shiller likely fell 3.8% in August Two key indices of home prices likely fell in August, suggesting large numbers of foreclosures and continued high joblessness are acting as … Continue reading

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

Few takers for flooded Jersey homes

From the Record: After the floods, sellers face lower prices Even before you open the door, you smell the mildew inside the white-brick house in Lincoln Park, a block from the Pompton River. Two feet of water sloshed into the … Continue reading

Posted in Economics, New Jersey Real Estate | 40 Comments

Housing “…not as bad as some might try to make us believe.”

From HousingWire: Barclays: Housing may not be as bad as some believe It is unlikely home prices will drop as much as 17%, but analysts with Barclays Capital evaluated that possibility during a recent analysis of future home prices. However, … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 125 Comments

September home sales disappoint, but post year-over-year gains

(New York-Northern New Jersey-Long Island MSA showing some stabilization with prices down only 0.5% year over year in September, and sales up 0.4%) From the WSJ: US Sep Existing-Home Sales Dip Slightly Sales of previously occupied homes in the U.S. … Continue reading

Posted in Economics, National Real Estate, New Jersey Real Estate | 56 Comments

Word of the day: Moribund

From the Federal Reserve: Beige Book – October 19, 2011 Second District–New York Economic growth in the Second District has remained modest since the last report, though there have been some signs of improvement in the labor market. Manufacturers report … Continue reading

Posted in Economics, New Jersey Real Estate | 80 Comments

Buck up campers, home prices will stabilize and begin to rise again

(Now a return to bubbly peak prices? That’ll take a while) From the NY Times: Gloom Grips Consumers, and It May Be Home Prices Ernest Markey lost his stone-cutting business in 2009. He then sold his home for half a … Continue reading

Posted in Economics, Employment, Housing Recovery | 134 Comments

Where have all the houses gone?

From the WSJ: Slim Pickings Are Latest Headache for Home Sales The housing market, which has struggled with an oversupply of homes for years, is facing a new problem: a lack of attractive inventory. There were more than 2.19 million … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 112 Comments

No big price drops at the shore?

From the Philly Inquirer: At the Shore, many homes retained value after a wild ride If you have the money – and that means cash – you can buy your dream house at the Jersey Shore. If you don’t, as … Continue reading

Posted in Shore Real Estate, South Jersey Real Estate | 118 Comments

Come out, come out, wherever you are

From the NY Times: Many Foreclosures, Few Listings PRICES are down across the board so far this year in urban, suburban, rural and shore areas, in both northern and southern New Jersey — everywhere except areas close to Manhattan commuter … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 130 Comments