Monthly Archives: February 2012

Big jump in contracts in January

From the Otteau Group (no link): NJ Home Sales Record 31% Increase in January Given the malaise in the housing market in recent years, a double digit increase in purchase demand is a big deal. What’s even more impressive is … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 252 Comments

“We might be on the verge of a home recovery, but then, maybe not.”

From the WSJ: Home Prices Hit New Depths Home prices fell to fresh lows in December, but economists say that a drop in the number of homes listed for sale could help stabilize prices in parts of the country this … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 169 Comments

January pending home sales up 14.2% year-over-year in the Northeast

From Crain’s NY: Northeast, South lead US pending home resales The number of Americans signing contracts to buy previously owned homes rose more than forecast in January, indicating the industry that triggered the last recession is improving. The index of … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 172 Comments

Affordability? Where?

From the Record: With incomes down and rents up, housing is less affordable Despite the recent drop in home prices, one-third of New Jersey’s working households struggle with severe housing costs, the Center for Housing Policy said Thursday. According to … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 129 Comments

Seller’s Market Buyer’s Market Renters Market! (and a squatter’s market too)

A Two-Parter from Bloomberg (Hat tip Chi!): Why Renters Rule U.S. Housing Market (Part 1): A. Gary Shilling The collapse in housing and the 33 percent plunge in house prices since 2006 are favoring renting over homeownership. This trend will … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, Politics, Risky Lending | 163 Comments

“Not quite time to celebrate”

From the Press of Atlantic City: Sales of existing homes rise in January by 4.3% Housing sales increased in January over the same period last year, the National Association of Realtors said Wednesday, with sales of existing homes up 4.3 … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 161 Comments

January home sales looking better? Or was it just the weather?

From Bloomberg: Previously Owned U.S. Home Sales Probably Rose to Highest Since May 2010 Sales of previously owned U.S. houses probably rose in January to the highest level since May 2010, adding to signs the housing market is regaining its … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 159 Comments

Mind of the buyer in 2012

From MarketWatch: Coldwell Banker Real Estate Survey Reveals Sellers More Willing to Price Competitively in 2012 A recent survey over 600 Coldwell Banker Real Estate professionals in the United States revealed home buyers and sellers are adjusting expectations and “getting … Continue reading

Posted in Economics, National Real Estate | 119 Comments

A good week for housing news?

From Bloomberg: Home Sales Probably Increased in January Home sales in the U.S. probably climbed in January to the highest level since May 2010, adding to evidence the housing market is regaining its footing, economists said reports this week will … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 66 Comments

NJ foreclosure conversion deal moves forward

From the Record: NJ Senate panel OKs bill turning foreclosed property into affordable housing A Senate panel unanimously approved a measure Thursday that would let municipalities and a new state corporation buy foreclosed homes and offer them to low- and … Continue reading

Posted in Foreclosures, Housing Recovery, New Jersey Real Estate | 174 Comments

When does the tsunami hit?

From WSJ: RealtyTrac: Foreclosure Filings Fall 19% In January The number of U.S. properties with foreclosure filings fell 19% in January from a year earlier, though several states reported increased foreclosure activity for the first time in more than a … Continue reading

Posted in Foreclosures, National Real Estate | 148 Comments

Making the unaffordable affordable

From the Star Ledger: N.J. Dems outline proposal allowing towns to turn foreclosed homes into affordable housing Two senior Democrats today outlined a measure to let municipalities and a state corporation buy foreclosed homes and offer them to low- and … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, Politics | 125 Comments

Value in consolidation or just smoke and mirrors?

From the Star Ledger: At Caldwell town hall meeting, Christie calls on N.J. towns to share services Gov. Chris Christie today told a hospitable audience at the Caldwell Community Center that after school funding, the duplication of municipal services is … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 117 Comments

Can’t wait to hear about how NJ spends the settlement

From Bloomberg: Foreclosure Deal May Help States Prop Up Budgets, Raze Houses Wisconsin plans to use part of its $140 million share of the national foreclosure settlement to fill a budget hole. Missouri would devote $40 million for education. Ohio … Continue reading

Posted in Foreclosures, Housing Recovery, Risky Lending | 136 Comments

Stop with the gimmicks and cut the price

From the NY Times: Going Beyond Price Cuts A PERSISTENT recession in house sales has led to a surge in “concessions” for buyers. In listings and brochures, and most recently through a program started up on Zillow.com, real estate agents … Continue reading

Posted in New Jersey Real Estate | 52 Comments