Monthly Archives: August 2012

1 in 11 homes sold in NJ a foreclosure

From the Record: One in 11 NJ homes sold in second quarter were in foreclosure One in every 11 sales in New Jersey in the second quarter involved a foreclosed property, compared with almost one in every four nationally, RealtyTrac … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 133 Comments

Fed: Modest improvement in housing markets

From the Fed: Beige Book – August 29, 2012 – Second District–New York Construction and Real Estate Housing markets across the District have shown further signs of modest improvement since the last report. The housing market in the Buffalo area … Continue reading

Posted in Economics, Housing Recovery | 119 Comments

Reasons for optimism?

From NJBIZ: Housing data give reason for optimism The weak housing market has long handcuffed the economic recovery, but new data released today suggest a housing recovery may be gaining steam. The latest S&P/Case-Shiller Home Prices Indices show home prices … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 122 Comments

June Case Shiller Day!

From the WSJ: Why Home Prices Are Rising: The ‘Distressed Share’ Tuesday’s measure of June home prices from the S&P/Case-Shiller 20-city index is likely to turn positive when compared with one year ago for the first time in two years, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 91 Comments

Foreclosures? No big deal.

From HousingWire: Studies find home prices and crime rates not greatly impacted by foreclosures Furthermore, foreclosures have been portrayed as death knells for neighboring property values, but a recent working paper from the Federal Reserve Bank of Atlanta says home … Continue reading

Posted in Foreclosures, Housing Recovery | 97 Comments

Weekend Open Discussion – Deadly Foreclosures Edition

From the LA Daily News: Studio City woman says fetid pool in foreclosed home gave her West Nile virus Debbie Davis first noticed the algae-green pool behind the foreclosed house next door last spring and knew it could spawn West … Continue reading

Posted in Foreclosures | 108 Comments

I ain’t afraid of no ghost

From the WSJ: Shadowboxing With the Recovery in Home Sales The salvo of distressed home sales that was supposed to sink the housing recovery hasn’t shown up yet. Perhaps it never will. The National Association of Realtors said Wednesday that … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 129 Comments

July Existing Home Sales

From Bloomberg: Sales of Previously Owned U.S. Homes Probably Climbed in July Sales of existing homes probably climbed in July from an eight-month low, adding to signs U.S. housing may pick up in the second half, economists said before a … Continue reading

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

Just when you thought the bailouts were over

From HousingWire: Obama to renew push for wider mortgage refinance plan The Obama administration will renew efforts to pass a wider refinance plan for more underwater homeowners when Congress reconvenes in September. “The housing market is beginning to pick back … Continue reading

Posted in Economics, Housing Recovery, Mortgages, Politics | 119 Comments

Bye bye tax cut

From Bloomberg: N.J. Revenue May Be $540 Million Off Target, Analyst Says New Jersey’s revenue collections were as much as $540 million less than targeted by Governor Chris Christie through the fiscal year ended June 30, according to a memo … Continue reading

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 118 Comments

Lenders really helping delinquent borrowers?

From the NY Times: Help for Distressed Homeowners LUIS CEREZO’s eyes welled up as he awaited the outcome of his latest attempt to resolve the 18-month backlog of mortgage payments he owes on the town house in Elizabeth where he … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 34 Comments

Axe falls on Jersey jobs

From NJBIZ: In dramatic reversal, N.J. posts 12,000 job losses for July New Jersey employers shed 12,000 jobs in July after months of gains, while the state’s unemployment rate ballooned to 9.8 percent, pushing it further above the national unemployment … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 95 Comments

BoA/Merrill raises housing price forecast

From HousingWire: BofAML revises home price forecast way upward Shrinking inventory and a shift toward short sales is causing analysts at Bank of America Merrill Lynch to dramatically revise their predictions of how high home prices will travel this year … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 87 Comments

Fewer monsters lurking in the shadows

From the WSJ: Shadow Inventory: It’s Not as Scary as It Looks The housing market is improving because there are more buyers chasing fewer homes. Skeptics of a housing bottom, however, often point to a scary set of numbers: the … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 142 Comments

Affordability moves in the other direction

From CNN/Money: Survey says: Fewer affordable homes It just got a little harder for most Americans to buy a home, according to an industry survey. Nearly 74% of the new and existing homes sold in the three months ended June … Continue reading

Posted in Economics, Housing Recovery | 108 Comments