Monthly Archives: October 2013

Sandy’s Foreclosures

From the NY Daily News: Even with surge in foreclosures post-Sandy, real estate prices in Queens, Brooklyn rise One year after Hurricane Sandy, New York area homeowners are drowning under a wave of foreclosure notices. In a sign that Sandy … Continue reading

Posted in Foreclosures, New Jersey Real Estate, NYC | 139 Comments

Otteau: NJ home prices to rise 5% per year

From the Record: NJ home values to rise 5% a year, appraiser predicts A growing demand for housing will push up New Jersey home prices about 5 percent a year for the next several years, appraiser Jeff Otteau predicted Tuesday. … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 100 Comments

Forbes: Don’t worry about inventory or affordability

From Forbes: Forget Affordability — Housing’s Trends Signal A Bright Future It seems that whenever something happens in the housing market, a flock of articles pop up explaining why the signs are ominous and housing is destined to flounder. To … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 174 Comments

Warren Buffett loves real estate

From Bloomberg: Buffett Says Gains in Housing Fall Short of Equilibrium Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), said the U.S. housing market has made progress and still has a way to go … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 45 Comments

Mortgage rates dip, will we see 3.xx% again?

From HousingWire: Mortgage rates fall to four-month lows Fixed mortgage rates spiraled down this week amid market speculation that the Federal Reserve will continue to commit to its bond buying purchases this year. Consequently, mortgage rates declined to four-month lows … Continue reading

Posted in Economics, Housing Recovery, Mortgages | 75 Comments

Born to run

From the WSJ: Home Sales Heating Up Long Island home sales, which slumbered when the market perked up across the U.S., jumped in the third quarter to their highest level since 2006. Sales also were up elsewhere across the region—New … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 64 Comments

Housing affordability drags down sales

From Forbes: Existing Homes Sales Fall In September As Housing Becomes Less Affordable Well it shouldn’t necessarily come as a surprise. Sales of previously owned homes fell 1.9% in September from a month earlier, according to the National Association of … Continue reading

Posted in Economics, Housing Recovery, Mortgages, National Real Estate | 75 Comments

Foreclosure Schmoreclosure

From the WSJ: Foreclosure Haunts Next Home Purchase Jumbo borrowers who went into foreclosure a few years ago are learning the hard way: You can’t go home again. Affluent home buyers attempting to get back into real estate after defaulting … Continue reading

Posted in Foreclosures, Housing Recovery, Risky Lending | 79 Comments

October Beige Book

From the Federal Reserve: Beige Book — October 16, 2013 Second District–New York Economic growth in the Second District has continued at a moderate pace since the last report. Contacts indicate some increase in cost pressures, though selling prices continue … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 72 Comments

We’re all the US Government now

From MarketWatch: Mortgage rates could spike if U.S. defaults Democrats and Republicans have two days to reach a deal before the government breaches the debt ceiling. Should a default occur, mortgage applicants could face a worst-case scenario that includes rates … Continue reading

Posted in Employment, Mortgages, National Real Estate | 99 Comments

Shocker: Houses expensive in North Jersey

From the Star Ledger: Where homes are within reach for the middle class in New Jersey Only about 19 percent of the homes for sale in Bergen County are within reach of the average middle-class family, a recent survey shows, … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 143 Comments

Want a house? Go west (but not too far west)

From HousingWire: Middle-class affordability shrinks in key housing markets For the typical middle-class household, owning a home is highly achievable, just as long as they choose to live in the Midwest. In the middle of the country, the average household … Continue reading

Posted in Demographics, Economics, Mortgages, National Real Estate | 83 Comments

Foreclosures at 7 year low (except in NJ)

From CNBC: Fewer US homes entered foreclosure track in third quarter The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners … Continue reading

Posted in Economics, Foreclosures, National Real Estate, New Jersey Real Estate | 130 Comments

“It’s not your father’s Brooklyn anymore”

From the NY Post: Brooklyn home prices hit 10-year record high Brooklyn is no longer the place to buy a home when you can’t afford Manhattan. Homes in the Borough of Kings are selling at record-high prices, thanks to surging … Continue reading

Posted in Demographics, Housing Recovery, NYC | 43 Comments

This again? Conforming loan limits may drop.

From HousingWire: GSE conforming loan limits could adjust again Policymakers are contemplating a reduction in the maximum size of home loans that Fannie Mae and Freddie Mac are allowed to acquire, hoping this change will reduce the government’s dominant footprint … Continue reading

Posted in Housing Recovery, Mortgages, National Real Estate | 80 Comments