Monthly Archives: March 2014

Commercial and Residential Tax Appeals Swamp NJ

From NJBIZ: With April 1 deadline looming, N.J. facing surge of property tax appeals With many types of commercial real estate still reeling from the downturn, New Jersey faces a tidal wave of property tax appeals from thousands of weary, … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 93 Comments

3,700 fewer jobs in February

From the Star Ledger: NJ shed 3,700 jobs in February as unemployment rate remained unchanged New Jersey shed 3,700 jobs in February due to private sector cutbacks, though the state’s unemployment rate remained unchanged at 7.1 percent, according to preliminary … Continue reading

Posted in Demographics, Economics, Housing Recovery, New Jersey Real Estate | 135 Comments

South Jersey Recovery Lagging

From the Press of Atlantic City: South Jersey still lags nation in real estate recovery South Jersey’s struggling real-estate market is lagging New Jersey’s construction recovery, an economist told the New Jersey Builders Association on Tuesday. New Jersey has seen … Continue reading

Posted in Economics, Housing Recovery, South Jersey Real Estate | 74 Comments

NYC Metro Price Growth Strong

From the Record: Home prices in region up 6.7%, biggest rise since 2006 Home prices in the region rose 6.7 percent in the year ending in January, the biggest jump since the housing-boom year of 2006, the Standard & Poor’s … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 82 Comments

More millionaires than ever before in NJ

From the Star Ledger: New Jersey has more millionaires than ever Just before the start of the World Economic Forum in Switzerland in January, Oxfam International reported 85 individuals own 65 times as much wealth as the entire bottom half … Continue reading

Posted in Demographics, Economics | 119 Comments

Technology Death Knell for the MLS

From HousingWire: How the Internet chips away the MLS What the Internet and Uber are doing to the taxi business is happening in its own way to real estate brokers and the MLS. Earlier this month, Inman News reported from … Continue reading

Posted in Economics, National Real Estate | 90 Comments

Flood insurance just got cheaper … for now

From the Star Ledger: President signs bill approving flood insurance rollbacks President Obama signed legislation today, fast tracked by Congress last week, that rolls back scheduled increases in federal flood insurance. The new law caps annual rate increases and repeals … Continue reading

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

February Home Sales? Not so good (except maybe for prices)

From the WSJ: U.S. Housing Recovery Hits Hurdles A broad measure of home sales fell again in February, the latest sign of severe weather and worsening affordability undermining the housing recovery. Sales of previously owned homes fell 0.4% in February … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 67 Comments

Live in NYC, Rent in Jersey City

From the Jersey Journal: Rentals, not condos, still rule on this side of Hudson Despite a booming condo market in New York City, developers on this side of the Hudson River are still wary about shifting their focus away from … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 108 Comments

Buyers Market in NJ Suburbs of Philly?

From NBC Philly: Study: Philly Area 2nd Best Market in the Country for Home Buyers If you’re looking to buy a home, Philly might be the place for you. The Philadelphia area is the second best market in the country … Continue reading

Posted in Demographics, Economics, Housing Recovery, New Jersey Real Estate | 123 Comments

Will 2014 be the strongest year since the bust?

From HousingWire: Economist: 3 major things you need to know about the 2014 housing market No. 1: 2014 should prove to be the strongest year for housing activity since before the Great Recession. … Propelling home sales are job growth … Continue reading

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

NJ’s concerted effort to freeze the foreclosure pipeline continues

From the Star Ledger: Bill to help NJ families avoid foreclosures advances Legislation that would create a fund to help low and moderate income families afford foreclosure prevention services was passed out of committee Thursday and can now be voted … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Politics | 72 Comments

Locked In: Why you better learn to love low inventory

From the NY Times: Fallout From Refinancing Homeowners who refinanced when fixed mortgage rates dropped below 4 percent will be less inclined to put their homes on the market as interest rates climb. And as a result, the limited property … Continue reading

Posted in Demographics, Economics, Housing Recovery, Mortgages | 75 Comments

A new era for property taxes?

From Bloomberg: New Jersey’s Property Taxes Increased 1.7% Last Year to Record The average property-tax bill in New Jersey, which already has the highest in the U.S., rose 1.7 percent last year, Governor Chris Christie said. More than 80 towns, … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 94 Comments

Bye bye Freddie and Fannie?

From Bloomberg: U.S. Wind-Down Bill Clips Fannie Mae, Freddie Mac Shares Leaders of the U.S. Senate Banking Committee announced long-awaited plans to dismantle Fannie Mae and Freddie Mac, pushing the companies’ common shares to their biggest intraday drop in 10 … Continue reading

Posted in Economics, Housing Recovery, Mortgages, Politics | 153 Comments