Monthly Archives: February 2014

Underwater homeowners drop below 20% (only important if you are a numerologist)

From HousingWire: 1 in 5 homeowners still underwater at year’s end Just under 1 in 5 homeowners are still underwater, according to the latest Zillow negative equity report, meaning they still owe more on their mortgage than their home is … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 60 Comments

At least they’re not getting worse…

From the APP: NJ leads nation in share of distressed mortgages It’s been six years since the housing bubble collapsed, but foreclosures still weigh on New Jersey’s real estate market, according to a report released Wednesday. The state’s share of … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 53 Comments

2013 was a good year for North Jersey home prices

From the Record: Home prices in region saw boost in 2013 Home prices in the region rose 6.3 percent in 2013, while national values jumped 11.3 percent — the strongest nationwide showing since 2005, the Standard & Poor’s/Case-Shiller index reported … Continue reading

Posted in Economics, Housing Recovery, North Jersey Real Estate | 75 Comments

Is Inventory High or Low?

January Inventory (Active Listings) Essex 2001 – 1713 2002 – 1896 … 2014 – 2398 Morris 2001 – 2010 2002 – 2284 … 2014 – 2625 Passaic 2001 – 1296 2002 – 1184 … 2014 – 1862 Somerset 2001 – … Continue reading

Posted in General | 54 Comments

Budget showdown begins

From the Star Ledger: Christie’s new budget could have drastic effect on NJ residents Once Gov. Chris Christie unveils his new budget plan for New Jersey in a Statehouse speech tomorrow, two big issues that have dominated Trenton will likely … Continue reading

Posted in Economics, Politics, Property Taxes | 87 Comments

Blame it on the snow

From Bloomberg: Cooling U.S. Home Sales Only Partly Due to Weather: Economy Sales of previously owned U.S. homes dropped in January to the lowest level in more than a year as harsh winter weather combined with a lack of supply, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 58 Comments

Not even close to over…

From the Record: NJ mortgage woes easing, but still worse than US The worst may be over for distressed homeowners in New Jersey, though foreclosure misery remains higher in the state than in the nation as a whole, the Mortgage … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate | 49 Comments

Pay Up!

From UPI: Monthly home payments climb, while incomes stagnate Monthly payments on U.S. homes jumped 21 percent in the fourth quarter of 2012 from a year earlier, a survey of 325 counties found. Online housing marketplace and research firm RealtyTrac … Continue reading

Posted in Demographics, Economics, Housing Recovery, Mortgages, National Real Estate | 101 Comments

“Worry is the interest paid by those who borrow trouble”

HousingWire has been putting out some great pieces lately, looks like a set of new writers that aren’t taking a softball approach. Another great one: 4 signs the real estate market is in trouble — Don’t worry about sales or … Continue reading

Posted in Demographics, Economics, Housing Recovery | 134 Comments

Mixed Bag for NJ Q4 Home Prices

From the Star Ledger: Home prices drop in NJ markets, according to realtors group Home prices dropped in three out of four New Jersey metro areas tracked by the National Association of Realtors at the end of the fourth quarter. … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 63 Comments

Stuck in the middle with you

From the Record: As home prices rose, high- and low-end towns are left out As North Jersey home values rebounded during 2013, two market segments were left out: the very low-priced and the very high-priced communities, according to an analysis … Continue reading

Posted in Demographics, Economics, Housing Recovery, New Jersey Real Estate | 20 Comments

Shelter in Place – Why do boomers need to move?

From the NYT: Retiring on the House As baby boomers age, reverse mortgages are expected to gain popularity as a means of covering living expenses. Hence, in the future, more homes passed on to children will come with a bill … Continue reading

Posted in Demographics, Economics, National Real Estate | 39 Comments

Live there not here?

From the WSJ: Gap Between Most, Least Expensive Housing Markets Still Wide It’s a familiar conversation among couples on the nation’s coasts: Can you imagine what kind of house we could get if we could keep our jobs and move … Continue reading

Posted in Demographics, Economics, National Real Estate | 102 Comments

Mortgage delinquencies dropping – but not fast enough

From HousingWire: Mortgage delinquency rate hits 5-year record low The mortgage delinquency rate hit the lowest level in 5 years and dropped below 4% for the first time since 2008. According to TransUnion’s latest mortgage delinquency report, the rate of … Continue reading

Posted in Foreclosures, Mortgages, National Real Estate | 115 Comments

Northern New Jersey Snowblower Report

Open discussion about snow removal, mass transit, traffic, collapsed roofs, ice dams, broken pipes, snow drifts, end of the world. I should have stayed in Key West.

Posted in Humor, Unrest | 113 Comments