Monthly Archives: September 2012

Foreclosure on your street? Go mow their lawn.

From the IB Times: US Foreclosures Have Modest Impact On Nearby Home Prices: NBER Foreclosed properties in the U.S. only modestly depress the home prices of nearby properties, and the effects vanish a year after the distressed property is resold, … Continue reading

Posted in Foreclosures, National Real Estate | 144 Comments

Dems seek HARP expansion

From HousingWire: Senators bargain on HARP expansion Senate Democrats reintroduced a bill to expand refinancing for an estimated 13.5 million Fannie Mae and Freddie Mac mortgage borrowers. Sens. Robert Menendez, D-N.J., and Barbara Boxer, D-Calif., will keep the origination cut-off … Continue reading

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 98 Comments

Don’t bet on a quick recovery

From the WSJ: Housing on Mend, but Full Recovery Is Far Off Home prices during the first half of 2012 posted their strongest gains in six years, the clearest sign that more U.S. housing markets have hit bottom. But the … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 128 Comments

Weekend Housing Pep Talk

From Barrons: Happy at Last Nothing’s wreaked quite the havoc on the U.S. economy, and indeed the national psyche, as the six-year slide in home prices. It wiped out some $7 trillion in household wealth, savaged bank balance sheets, and … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 185 Comments

Not on fire, but rents still rising

From CNBC: Rent Spikes Begin to Ease Recent reports have shown home prices rising, especially in the housing markets which were hardest hit in the crash. Investors, buying in bulk, have been swarming these distressed markets, seeking to take advantage … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 144 Comments

Homes that sell are selling faster (or are they?)

Caution caution caution… Read this piece with extreme skepticism. “Relisting,” the practice of taking a property off market and almost immediately back on market as a new MLS listing in order to make the property appear “new to market” or … Continue reading

Posted in Economics, Housing Recovery | 123 Comments

“Don’t be surprised if the all-time low in home prices is in the rearview mirror.”

From the WSJ: Here’s More Evidence That Home Prices Have Hit Bottom. In each of the last three years, home prices have increased in the spring and summer, when more people are buying homes, before giving back all of those … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 108 Comments

North Jersey Contracts – August 2012

(Source GSMLS, except Bergen which is NJMLS) Pending Home Sales (Contracts) ——————————- Bergen County August 2011 – 589 August 2012 – 707 (Up 20% YOY) Essex County August 2011 – 258 August 2012 – 348 (Up 34.9% YOY) Hunterdon County … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 121 Comments

Blame the kids

From the Star Ledger: Millennials are slow entering the housing market The Millennial Generation, those born between the end of the ’70s and the start of the ’90s, have crossed into adulthood. They are taking up the mantels passed down … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 89 Comments

Otteau: July Market Update

From Jeff Otteau’s Monthly MarketNEWS Update: July Purchase Contracts Rise 24% The New Jersey housing market turned in another strong month in July with home purchase contracts increasing 24% compared to the same month last year. YTD purchase activity through … Continue reading

Posted in New Jersey Real Estate | 68 Comments