71%? We need a 710% increase in foreclosures.

From the Record:

Foreclosure activity up 71% in NJ, RealtyTrac says

Foreclosure activity rose 71 percent in New Jersey last year, as lenders continued to deal with a backlog of troubled properties, according to a report released Thursday.

At the same time, foreclosures nationwide dropped 18 percent, to the lowest level since before the recession.

About 1.9 percent of New Jersey housing units had foreclosure filings last year, compared with 0.85 percent in the nation, according to RealtyTrac, a California company that follows the distressed housing market.

New Jersey ranked second in the nation in the rate of all foreclosure filings, just behind Florida. The state ranked fifth in completed foreclosures – in which homes are repossessed by banks – which were up 34 percent.

Lenders are dealing with troubled Garden State properties that piled up when foreclosure activity slowed to a trickle in 2011, while courts and the mortgage industry dealt with reports of industry abuses. In addition, New Jersey is one of two dozen states that require that foreclosures go through the courts, which also slows the process.

In Bergen County, about 4,267 housing units faced foreclosure filings last year, ranging from a lender’s notice that the homeowner is in default on the mortgage all the way through to sale of the property at sheriff’s auction. That’s up 59 percent from the previous year. In Passaic, 3,741 units had filings, up 65 percent, RealtyTrac said.

Atlantic City had the highest rate of foreclosure filings of any metropolitan area of over 200,000 population in the nation, at 3 percent of housing units. The city has been hard hit by the recent closings of four of its casinos, resulting in the loss of thousands of jobs.

This entry was posted in Demographics, Economics, Foreclosures, New Jersey Real Estate. Bookmark the permalink.

114 Responses to 71%? We need a 710% increase in foreclosures.

  1. Mike says:

    Good Morning New Jersey

  2. Toxic Crayons says:

    If you’re a Jersey Republican…then you probably support the Keystone XL pipeline….which means logically, your probably also support:

    Pilgrim Pipeline going ‘full steam ahead’ with plans, despite growing opposition

    http://www.nj.com/morris/index.ssf/2015/01/pilgrim_pipeline_continuing_fight_despite_mounting.html#incart_river

  3. 30 year realtor says:

    Friday is Bergen County sheriff sale day! My favorite sheriff sale of the week.

  4. Essex says:

    I’m looking forward to renting another home from a bank.

  5. Bystander says:

    Well, Gary..the cheese stands alone as the rhyme goes. As of last night, I am under contract to buy a home here in CT. What a crazy three year journey, filled mostly with wasted energy and time fighting through garbage listings, paint huffing sellers and real estate grifters who act like great deals abound. They most certainly do not. Anyone who spends only a few weeks/months before purchasing is most likely getting swindled. It is a major effort to find anything priced right and of value…but you have to pounce immediately if you find it. Thanks to grim for this blog, plus the shared knowledge of numerous posters here. Invaluable is all I can say. Now, details, it is a 4 BD/3 full bath colonial and comfortable size (2150 sq ft), completely rebuilt and expanded 12 years ago. The sellers purchased the home about 3 years for 550k/8k taxes. I estimated that they put at least 45K into the place – new hard wood floors downstairs, new carpet upstairs, new counters and appliances, new washer/dryer, new pool liner, security installed, moldings, finishings etc. As per mass delusion out there, they listed in last spring at 730K. Insane..so I waited and watched, every month for 8 months as their greed filled dreams faded away. $15K cut, $25K cut, $30k cut..finally they priced at $590k last week. I knew we were down to bone now. I offered $570K and they took it, plus included custom swingset and new gas grill. No need to low-ball..they did it themselves. Home sold for $650K in 2005 so still well below bubble peak. Funny, I did the inspection Saturday and realtors were still trying to see it with their clients in the middle of it. I got that contract at right time. Anyway, I found out that guy who rebuilt it was a former home builder/inspector. Place was absolutely pristine. Inspector even commented that probably the best house he has seen in a long while and everything was done at top notch level, complete attic ventilation, quality installation of all mechanicals, labeled wiring, etc..not one thing on the report of significance. Home is 2 min walk to my son’s future elementary and very close to lake/trails. Stay vigilant, Gary and same to all those still looking. I have no delusions that this place will appreciate significantly in my lifetime and still think clot is right that real estate is generationally dead. I am in my early 40s and saved forever to afford this place comfortably. No idea how millennials and their children will do it.

  6. Liquor Luge says:

    Congratulations, bag holder. :)

  7. 30 year realtor says:

    Luge, my group has started bidding at the Hunterdon County sheriff sale. Very limited competition in your area.

  8. 1987 Condo says:

    #5..congrats..what are current RE Taxes?

  9. anon (the good one) says:

    @ianbremmer: 50 years of sanctions couldn’t bring down the Cuban dictatorship. A couple of years of open borders and they’re done for.

  10. Toxic Crayons says:

    They said “permit” but I highly doubt they meant carry permit. Reporters in NJ know very little about the law and probably took it to mean that because he had an FID card, he had a “permit”. You are legally allowed to have your weapon at your (fixed) place of business.

    As I’m sure you already know, the FID is only required to “purchase” a long gun. Not to possess in your home or place of business. If it was a handgun, the “permit” is only a permit to purchase a handgun from an FFL. No permit is required to own it.

    However, I listen the the GFH podcast from time to time, and Evan Nappen recommends you have your FID to avoid confusion in case you ever have the misfortune of an interaction with law enforcement regarding your firearm in NJ.

    Comrade Nom Deplume, Guardian of the Realm says:
    January 16, 2015 at 8:00 am
    [60] toxic

    I do but I know the law and NJ when it comes to legal carry. Odds are that Zfabian is correct. For once

  11. Fast Eddie says:

    Bystander [5},

    First of all, congratulations! I really am happy for you. Most have no idea how the game has changed so drastically since the swindle years a decade ago. The experience of trying to find a house in this environmenmt has become one the most arduous tasks imaginable.

    So, the house went from $730,000 to an accepted offer of $570,000. What you and I having been saying for months on end has been proven to be true. You held steady and refused to capitualte to former nail technicians, pom pom wavers, shysters and blind peddlers. Some here are still going to insist that it’s different here because this is the NJ/NY area. Ask that that question to the guy who bought in a “desirable” town from 2004 to 2007.

    It appears that you landed a gem and did so at the correct price. It’s always been about price and those that fail to realize it are just m0rons, lack the insight to see the big picture or both.

    Again, congratulations and thank you for providing the proof that we’re right and they’re wrong.

  12. Ragnar says:

    Ian Bremer probably said that trade would bring down the ChiComs and tame Putin. How’s that working? The theory that selling KFC and Levis make people like the West hasn’t matched it’s hype.

  13. Ragnar says:

    Just fully paid off my mortgage this week, about 5 years after moving in.

  14. Toxic Crayons says:

    Nice. Wish I had the extra scratch to do that.

  15. FKA 2010 Buyer says:

    The repercussions of the SNB move will be felt for awhile.
    ————————
    Casualties From Swiss Shock Spread From New York to New Zealand

    Losses mounted from the Swiss currency shock as the largest U.S. retail foreign-exchange brokerage said client debts threatened its compliance with capital rules and a New Zealand-based dealer went out of business.

    FXCM Inc., which handled a record $1.4 trillion of trades by individuals last quarter, said clients owe $225 million on their accounts after the Swiss National Bank’s decision to abandon the franc’s cap against the euro roiled markets worldwide. Global Brokers NZ Ltd. said losses from the franc’s surge are forcing it to shut down. IG Group Holdings Plc estimated an impact of as much as 30 million British pounds ($45.5 million) and Swissquote Group Holdings SA set aside 25 million francs ($28.4 million).

    “I would be astonished if we did not see more casualties,” Nick Parsons, the London-based head of research for the U.K. and Europe at National Australia Bank Ltd., said by phone from Sydney. “This was a 180-degree about turn by the SNB. People feel hurt and betrayed.”

    http://www.bloomberg.com/news/print/2015-01-15/new-zealand-currency-broker-closes-on-losses-after-swiss-shock.html

  16. JJ says:

    Chifi bought to go x-div and a once a year div, what do you think? SandRidge Energy Inc. 8.5% Conv. Pfd.

    Congrats on home purchase bystander now what are the property taxes and when are you grieving them. You dont have to own a home to grieve taxes just be in contract to buy. Check cut off in your town and find out assessed value. If home is taxed at above assessed value grieve it today if period is open.

  17. FKA 2010 Buyer says:

    [5] Bystander

    Well played and congrats on the home!!

  18. FKA 2010 Buyer says:

    Fitch: 6 predictions for housing in 2015

    1. Home price growth will slow
    2. Interest rates WILL rise in 2015, but it won’t be as bad as you think
    3. Rising rates will cause a decline in mortgage volume
    4. Delinquency rates will improve
    5. Prepayments will slow down
    6. The rate of homeownership will remain low, permanently

    When loose lending standards and an “exuberant” market encouraged the use of homes as an investment, home ownership rates peaked at 69% in 2006, the analysts said.
    Since then, home ownership rates have fallen to below 65%, and will likely continue to trend downward.

    “This change is driven by two main groups: those that lost their homes when home prices fell, and those that remain hesitant to embark on a path of home ownership after having witnessed the market stresses of the last decade,” the analysts said.
    “As the economy continues to recover, ownership rates are likely to stabilize, but Fitch expects that home ownership rates will not recover to their mid-2000s market peaks, with a higher proportion of able or marginal buyers opting to rent over the next several years.”

    http://www.housingwire.com/articles/32625-fitch-6-predictions-for-housing-in-2015

  19. Bystander says:

    6 clot,

    At least it is a lunch bag as opposed to grocery bag. Think sellers took equity loan. Realtor said they owed 536k still. They are taking big bath if so.

    #8 condo,

    A little over 8k. Town reassessed lower lat year. You pay less prop taxes in CT but more on personal property and gas tax.

  20. Toxic Crayons says:

    @AllenWest: Exposed: George Soros secret underwriter of “spontaneous” Ferguson riots. http://t.co/vHy5k7XHU2 #tcot

  21. clotluva says:

    Bystander and Rags: Congrats to you both.

  22. The Great Pumpkin says:

    Congrats! Can’t say I didn’t laugh, though. Do you and fast eddie think that it is easy to purchase a house in a good market? It’s always the same. Just because you have the money to buy, doesn’t mean you can just walk up to a realtor and purchase a home that you want. It takes time, patience, and hard work.

    Now do you believe me that you can find something in this market? You and fast eddie continuously laughed me off and here you are happy with your purchase price. I rest my case.

    Bystander says:
    January 16, 2015 at 8:04 am
    Well, Gary..the cheese stands alone as the rhyme goes. As of last night, I am under contract to buy a home here in CT. What a crazy three year journey, filled mostly with wasted energy and time fighting through garbage listings, paint huffing sellers and real estate grifters who act like great deals abound. They most certainly do not. Anyone who spends only a few weeks/months before purchasing is most likely getting swindled. It is a major effort to find anything priced right and of value…but you have to pounce immediately if you find it. Thanks to grim for this blog, plus the shared knowledge of numerous posters here. Invaluable is all I can say. Now, details, it is a 4 BD/3 full bath colonial and comfortable size (2150 sq ft), completely rebuilt and expanded 12 years ago. The sellers purchased the home about 3 years for 550k/8k taxes. I estimated that they put at least 45K into the place – new hard wood floors downstairs, new carpet upstairs, new counters and appliances, new washer/dryer, new pool liner, security installed, moldings, finishings etc. As per mass delusion out there, they listed in last spring at 730K. Insane..so I waited and watched, every month for 8 months as their greed filled dreams faded away. $15K cut, $25K cut, $30k cut..finally they priced at $590k last week. I knew we were down to bone now. I offered $570K and they took it, plus included custom swingset and new gas grill. No need to low-ball..they did it themselves. Home sold for $650K in 2005 so still well below bubble peak. Funny, I did the inspection Saturday and realtors were still trying to see it with their clients in the middle of it. I got that contract at right time. Anyway, I found out that guy who rebuilt it was a former home builder/inspector. Place was absolutely pristine. Inspector even commented that probably the best house he has seen in a long while and everything was done at top notch level, complete attic ventilation, quality installation of all mechanicals, labeled wiring, etc..not one thing on the report of significance. Home is 2 min walk to my son’s future elementary and very close to lake/trails. Stay vigilant, Gary and same to all those still looking. I have no delusions that this place will appreciate significantly in my lifetime and still think clot is right that real estate is generationally dead. I am in my early 40s and saved forever to afford this place comfortably. No idea how millennials and their children will do it.

  23. The Great Pumpkin says:

    22- was referring to buying in a good or bad market, it’s all the same. It’s hard to find good properties in the metro new york area. This area has been important since we were only a bunch of colonies. That’s over 300 years of development. You think it’s going to be easy to find good real estate in this area? You think you will be able to find it instantly in any type of market?

    Now root for some inflation to beat up your loan debt.

  24. The Great Pumpkin says:

    Congrats on paying it off. I guess you are done making money. Why else would you pay it off? You just missed your chance at letting inflation pay for some of the loan and threw away a tax write off. There is no reason to pay a house off early with these loan rates. Go put that money in the stock market, or purchase a rental property.

    Ragnar says:
    January 16, 2015 at 9:09 am
    Just fully paid off my mortgage this week, about 5 years after moving in.

  25. Liquor Luge says:

    Figured punkinhead would try and find a way to pimp his tired inflation meme this AM.

  26. Liquor Luge says:

    Too bad 2008’s deflationary credit collapse was just a warmup for the doozie that’s coming.

  27. homeboken says:

    22 -“, doesn’t mean you can just walk up to a realtor and purchase a home that you want. It takes time, patience, and hard work.”

    Unless you have a family member that is willing to give you the discounted price upfront, right balloon head?

  28. Liquor Luge says:

    Someone might also want to tell punkin’ that there is a much greater possibility of a Weimar-like hyperinflation than there is of any sort of “controlled”, “wage-based” inflation.

    As fcuking if.

  29. Liquor Luge says:

    ‘boken (27)-

    You’d be better off smashing yourself in the forehead with a ball peen hammer than trying to get through to this simpleton.

  30. grim says:

    What did they used to call it in the 50s and 60s when you had a party to pay off your mortgage? A key party? Wait no I think that’s something else (softball to JJ).

    Congrats!

  31. grim says:

    Only because we haven’t had a good story lately.

  32. jcer says:

    I know full well about buying property…I was finding worthwhile things in 2006….places where the value was retained through the crash and went under contract a month after I backed out for 25k more(Building had structural issues….didn’t have enough cash at the time to both buy and fix). Even through 2012 I was finding things my problem is now that I actually have the money to do it I cannot find it. My wife absolutely fell in love with a house, I could have bought for 750k in 2010, needed approximately 150k in reno but a very well built house. My wife loved the place, just the price of the house/reno would have been pushing it let alone the 35k per year in taxes, a builder bought it did about a 200k reno and sold it for almost 1.6m. Right now I’m sitting on cash and have had good income the past few years to qualify for a big loan, but all I see is dreadful stuff at a high price. The scenario Bystander explains is common, you almost have to stalk the home as the listing starts out ridiculous and works it’s way down…unfortunately many times the owner doesn’t capitulate and just pulls the listing. The listings start above the 2006 peak and if it sells it is generally close to the pricing of the last few years. The market really seems seized and lets face it I have a full time job, I don’t have the time to stalk houses.

  33. Toxic Crayons says:

    How much does the average N.J. resident pay in interest in a lifetime?
    Print Jeff Goldman | NJ Advance Media for NJ.com By Jeff Goldman |
    on January 16, 2015 at 9:07 AM, updated January 16, 2015 at 9:18 AM

    The residents in only three places in the country will fork over more of their money on interest than a New Jerseyan over the course of a lifetime.

    An average person who lives in the Garden State can expect to pay $309,500 on various forms of interest, according to a report on MarketWatch.com.

    Only people who live in Washington, D.C., ($451,890) California, ($368,745) and Hawaii ($312,747) spend more on interest payments, the report said.

    The national average is $279,002.

    In addition to interest rates and consumers’ credit scores, the main factor that pushed New Jersey to the top of the list is the high cost of housing, the report said.

    At the other end of the scale, residents of midwestern states Iowa ($129,394), Wisconsin ($137,174) and Nebraska ($144,127) spend the least paying off their debt.

    New York finished just behind New Jersey at $300,031 while Pennsylvania recorded the eighth-lowest total at $163,513.

    Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com. Follow him on Twitter @JGoldmanNJ. Find NJ.com on Facebook.

  34. JJ says:

    Ever since I became condo treasury I despise folks with mortgages. The deadbeats are all sorts of trouble. The fall behind on mortgage and dont want to pay maint, the lead to bankforeclosures and short sales which leads to costly legal fees to association to chase arrears and attend BK court dates. Finally, they add a bunch of paperwork when they buy and sell and add in crazy requests for flood and homeowner insurance copies from association to satisfy lenders.

    The Dakota Coop in Manhattan has it right. Cash only, no HELOCS. Less headaches all around.

    2008 was last mortgage in my condo. We have two sales pending both cash. The third for sale listing rented instead of selling. Pretty much it takes awhile to sell a condo so mostly likely no sales till 2016. That will be a nice 8 year break from mortgages. Mortgages also caused me to lose two nice neighbors. One bought at peak and had to sell as he was going broke. Second in bubble some nut offered him like 200K more than worth so he sold and the sucker who I never liked went broke. Meanwhile myself and the other old times on the block who bought pre-2000 keep chugging along. Prices up and down mean nothing to us as do mortgage rates.

    My wife questions my search for a trade up house and makes me feel old she is like you want to take out a 30 year mortgage “at your age” and then throws in AND do it 7 years after you paid off your last mortgage.

    I wish homes were like Texas prices around here and I just buy me a big old mansion for 300K cash

    grim says:
    January 16, 2015 at 10:57 am
    What did they used to call it in the 50s and 60s when you had a party to pay off your mortgage? A key party? Wait no I think that’s something else (softball to JJ).

    Congrats!

  35. Ragnar says:

    Still renting from my town with $20k per year property tax, so as I’ve said before, nobody in NJ really owns their home anymore.

  36. JJ says:

    Only the little people pay property tax.

    Ragnar says:
    January 16, 2015 at 11:58 am
    Still renting from my town with $20k per year property tax, so as I’ve said before, nobody in NJ really owns their home anymore.

  37. Fast Eddie says:

    Right now I’m sitting on cash and have had good income the past few years to qualify for a big loan, but all I see is dreadful stuff at a high price.

    Do you cheerleaders get it? Bystander found a gem at a 22% reduction. I’m calling for a 10% to 15% reduction. I’m being too nice. Let the fat f.uck greedy b.astards starve to death.

  38. Bystander says:

    Fast,

    So true my friend. I laughed at sellers and battled with realt -whores..those things were fun sometimes. The toughest part were the muppets, running with money in fist to pay ridiculous asking prices thereby undermining efforts to get a reasonable deal. Did they see water marks in basement or crumbling chimney? Did they read that home has asbestos siding or mapped in a flood zone? Did they read town notes to understand the construction that is being proposed by the property? Can you tell difference between cheap Ikea cabinets and granite vs. quality lasting products? Time and time again the answer was no. One muppet leads to more delusion down road. Thankfully they missed one.. big time.

  39. The Great Pumpkin says:

    You act like you are not getting anything for it. Come on, that statement is wrong and you know it. Is society still functioning around you? So your taxes are not rent being paid to the state, it goes to the costs associated with maintaining a society. You seem to be making a lot of money, since your house is paid for after 5 years. I would think you would be happy with what your taxes are doing for you. If your taxes dropped 50% and were 10,000, do you really need that extra 10,000 a year. Are you really that greedy? That’s the problem with this state and every state. You have people that pay their houses off in 5 years and complain about taxes. Greedyyyyyyyyyyyyyy!!!!!!

    Ragnar says:
    January 16, 2015 at 11:58 am
    Still renting from my town with $20k per year property tax, so as I’ve said before, nobody in NJ really owns their home anymore.

  40. The Great Pumpkin says:

    I disagree. I think there is a much better chance of controlled inflation, as opposed to runaway inflation. I’m not saying it is not possible. I’m just saying that it is highly more likely to reach at most 10% as opposed to runaway inflation. I also will take runaway inflation as opposed to a deflationary spiral any day of the week.

    Liquor Luge says:
    January 16, 2015 at 10:52 am
    Someone might also want to tell punkin’ that there is a much greater possibility of a Weimar-like hyperinflation than there is of any sort of “controlled”, “wage-based” inflation.

    As fcuking if.

  41. The Great Pumpkin says:

    He’s not the only one. Homes are selling. The stats say so. People’s asking price has nothing to do with the overall market. They don’t count. If the house doesn’t sell, the owner is not really selling. It’s an imaginary price. It’s not even overpriced, it’s not real, if no one will take it. So don’t pay attention to it.

    Fast Eddie says:
    January 16, 2015 at 12:11 pm
    Right now I’m sitting on cash and have had good income the past few years to qualify for a big loan, but all I see is dreadful stuff at a high price.

    Do you cheerleaders get it? Bystander found a gem at a 22% reduction. I’m calling for a 10% to 15% reduction. I’m being too nice. Let the fat f.uck greedy b.astards starve to death.

  42. The Great Pumpkin says:

    Wait for the spring to come. Still keep an eye out, but I’m sure when spring comes, a lot of new inventory will be available. It’s still going to be tough, but it will be better than the holiday season. You just have to be quick to pounce on it, as soon as they come to the market.

    jcer says:
    January 16, 2015 at 11:06 am
    I know full well about buying property…I was finding worthwhile things in 2006….places where the value was retained through the crash and went under contract a month after I backed out for 25k more(Building had structural issues….didn’t have enough cash at the time to both buy and fix). Even through 2012 I was finding things my problem is now that I actually have the money to do it I cannot find it. My wife absolutely fell in love with a house, I could have bought for 750k in 2010, needed approximately 150k in reno but a very well built house. My wife loved the place, just the price of the house/reno would have been pushing it let alone the 35k per year in taxes, a builder bought it did about a 200k reno and sold it for almost 1.6m. Right now I’m sitting on cash and have had good income the past few years to qualify for a big loan, but all I see is dreadful stuff at a high price. The scenario Bystander explains is common, you almost have to stalk the home as the listing starts out ridiculous and works it’s way down…unfortunately many times the owner doesn’t capitulate and just pulls the listing. The listings start above the 2006 peak and if it sells it is generally close to the pricing of the last few years. The market really seems seized and lets face it I have a full time job, I don’t have the time to stalk houses.

  43. Bystander says:

    Punkin,

    Take no credit. Your self-flagellating posts were ones I skipped over. The issue is not low inventory in NY metro area. It is quality for the price, and especially taxes as component of total cost of ownership. I had hundreds of homes to choose from, but only a few were worth purchasing. If you want to pay 500k for a hobbit size home on a busy street with 100k reno costs then listings are infinite. Even in a tony town, it is overpriced. People are pricing bc town is desirable , not the house. This is tough dynamic and requires much sacrifice and patience, especially when no one is giving you the home at a discount.

  44. JJ says:

    New buyers should be forced to look at stuff like this if they think they can buy and flip it in a few years for a profit

    Price History
    DATE EVENT PRICE
    06/09/14 Sold $330,000-8.1%
    04/11/14 Listing removed $359,000
    11/26/13 Price change $359,000-5.3%
    10/07/13 Price change $379,000-5.1%
    08/20/13 Listed for sale $399,500-11.2%
    06/22/13 Listing removed $449,900
    04/18/13 Price change $449,900+0.2%
    10/21/12 Price change $449,000-0.2%
    09/29/12 Listed for sale $449,900-10.0%
    06/21/11 Listing removed $499,900
    11/09/10 Listed for sale $499,900
    10/01/10 Listing removed $499,900
    09/01/10 Price change $499,900-10.6%
    07/31/10 Price change $559,000+19.2%
    07/13/10 Price change $469,000-21.7%
    06/25/10 Price change $599,000-12.6%
    05/21/10 Listed for sale $685,000
    03/08/10 Listing removed $685,000
    08/28/09 Listed for sale $685,000+8.9%
    04/07/08 Listing removed $629,000
    04/01/08 Listed for sale $629,000+193%
    05/25/94 Sold $215,000

  45. clotluva says:

    Wow. Grim’s talking about key parties and JJ’s posting comp-killers. It’s like a parallel universe…

  46. joyce says:

    45
    You know there was more than just a few years in between 1994 and 2008?

  47. Bystander says:

    Punk, not trying to be too harsh. You seem to be trying to figure things out but your posts lead to a lot of punishment. We get it..you won the real estate game early in life. Now, try winning it today, in a recession-like, post-bubble environment and your presented with houses like this. I saw it. Name a positive feature, knowing one of “4 BDs” would barely fit a single bed This is the market! This is par for the course.

    http://www.halstead.com/sale/ct/fairfield/157-lovers-lane/house/99081905

  48. homeboken says:

    48 – Or this one:

    From the listing, “needs extensive work” but buyers should still pony up $549,000 and happily pick up the 25k per year in taxes. After all, you are special enough to live within walking distance to East Orange.

    http://www.zillow.com/homedetails/612-Longview-Rd-South-Orange-NJ-07079/38732442_zpid/?z&utm_source=email&utm_medium=email&utm_campaign=emo-inferredsearch-address

  49. Fast Eddie says:

    Bystander,

    Don’t waste your time. S(he) is a f.cuking troll who is absolutely clueless and is trying to get a rise out of everyone. It’s laughable in a really annoying way. Don’t believe a word S(he) says.

  50. Juice Box says:

    Bystander congrats on becoming a bag holder.. Seems like you stole the place just like I stole mine.

    Don’t settle for 70s shag and pink bathroom folks!

  51. Toxic Crayons says:

    Anybody know if the mortgage forgiveness debt relief act will extend to something like a short sale in 2015? Will the balance (debt forgiven) of a short sale made in 2015 be taxable?

  52. Juice Box says:

    re # 41- JJ – They never came to my house. Supposedly 20% of the properties will be inspected every year on a rolling plan as all homes are currently assessed at 95% value. To bring them up to 100% they simply sent everyone an assessment card that was automatically 5% increase. Mine was just about that. A few neighborhoods who appealed last year and had it reduced saw even larger increases.

  53. FKA 2010 Buyer says:

    I love how kids are using technology today.
    ———-
    A 16-Year Old Programmer Just Made a Plugin That Shows Where Politicians Get Their Funding

    Nicholas Rubin is a 16-year old self-taught computer programmer from Seattle, Washington. He is also the inventor of Greenhouse, a new browser plugin that let’s you know exactly where politicians get their campaign funding from.

    The motto of Greenhouse is: “Some are red. Some are blue. All are green.” What it signifies is that the influence of money on our government isn’t a partisan issue. Whether Democrat or Republican, we should all want a political system that is independent of the influence of big money and not dependent on endless cycles of fundraising from special interests. The United States of America was founded to serve individuals, not big interests or big industries. Yet every year we seem to move farther and farther away from our Founders’ vision.”

    http://thehigherlearning.com/2014/06/26/a-16-year-old-programmer-just-made-a-plugin-that-shows-where-politicians-get-their-funding/

    —————————-

    United Airlines Suing 22-Year-Old Who Figured Out Genius Way to Buy Cheaper Tickets

    Let’s say you’re looking for a one-way flight from Houston to Atlanta. The cheapest one you can find is $300. However, you happen to stumble upon another flight, from Houston to Baltimore, that has a layover in Atlanta. The cost of this trip is only $250.
    Since you’re not planning to check any luggage, you book the Baltimore ticket and simply skip the second leg of the trip, getting off at your real destination in Atlanta with an extra $50 in your pocket.

    The strategy is referred to as “hidden city” ticketing, and it is the basic concept behind Skiplagged.com, a website founded last year by tech-savvy 22-year-old Aktarer Zaman.

    http://thehigherlearning.com/2014/12/30/united-airlines-suing-22-year-old-who-figured-out-genius-way-to-buy-cheaper-tickets/

  54. Juice Box says:

    The way the deadline for the property tax assessment appeal in Monmouth county was a short window, tax assessment cards sent out with the 5% increase around Thanksgiving and deadline for appeal was January 15th. About 6 weeks to file, rest of state is apparently April 1st.

    *For all counties, other than Monmouth, the filing deadline for 2015 Regular Assessment Appeals is April 1, 2015.

    https://secure.njappealonline.com/prodappeals/login.aspx

  55. Juice Box says:

    re # 54 – “I love how kids are using technology today”

    When we were kids there was no snapchat or instagram and hense no s*exti*ng. There was the occasional Polaroid, but nowhere near the amount of stuff going on today.

  56. clotluva says:

    47 Joyce,

    There are two things that stand out in my mind.

    First is the >50% drop from the 2010 fantasy asking price to the actual 2015 market value price.

    But also, the 50% INCREASE from the 1994 market value to the 2014 market value (which more generally matches the overall rate of inflation). The 2014 selling price was in line with traditional measures. It’s only in relation to the extended bubble asking prices that the actual market value looks weak.

  57. Walking Bye says:

    Hidden City Ticketing has been going on for years. I did this once with an Orlando to Newark to Philadelphia flight during peak season with ticket prices in Newark going for $550. Saved me about $225 a ticket for a family trip of 8. I left the family in Newark to pick up a cab home and I was the only one to fly back to Philly to pick up the bags and car. My Mother in law wanted to punch me out on our way to Disney (Phl to Newark to Orlando ) when we got off the plane for the first leg and the stewardess greets her with Welcome to Newark! “You drove us 2 hours south to fly back to Newark?”

  58. joyce says:

    Sure.
    I was only implying this didn’t look anything like an attempted flip to me.

    clotluva says:
    January 16, 2015 at 2:48 pm
    47 Joyce,

    There are two things that stand out in my mind.

    First is the >50% drop from the 2010 fantasy asking price to the actual 2015 market value price.

    But also, the 50% INCREASE from the 1994 market value to the 2014 market value (which more generally matches the overall rate of inflation). The 2014 selling price was in line with traditional measures. It’s only in relation to the extended bubble asking prices that the actual market value looks weak.

  59. joyce says:

    Yeah, I think there are a handful of sites (at least) that find the hidden city ticket deals. I lost you at the end of your story there… what happened exactly?

    Walking Bye says:
    January 16, 2015 at 2:52 pm
    Hidden City Ticketing has been going on for years. I did this once with an Orlando to Newark to Philadelphia flight during peak season with ticket prices in Newark going for $550. Saved me about $225 a ticket for a family trip of 8. I left the family in Newark to pick up a cab home and I was the only one to fly back to Philly to pick up the bags and car. My Mother in law wanted to punch me out on our way to Disney (Phl to Newark to Orlando ) when we got off the plane for the first leg and the stewardess greets her with Welcome to Newark! “You drove us 2 hours south to fly back to Newark?”

  60. Libturd at home says:

    Congrats Bystander. Sounds like you did well.

  61. nwnj says:

    #58

    You should have punched her in the face for crashing your vacation.

    “My Mother in law wanted to punch me out on our way to Disney”

  62. Libturd at home says:

    Going to see Selma tonight in supposedly diverse Montclair. Will be interesting to see the make up of the audience. If we weren’t paying for baby sitting, I would have made Gator see it in the hood. Regardless of how the film is, watching the locals stand up and scream at the screen is always entertaining (at first).

  63. Not Libturd says:

    This one is better. It includes an appearance by Ragnar going to the bathroom to have some ear wax removed.

    http://youtu.be/c8UOEmxzXRY

  64. The Great Pumpkin says:

    Not taking credit at all. I was just using you as proof to why fast eddie is a joke for not being able to find a home in 7 years. I’m glad you jumped off his boat and came back into reality.

    Your comment about the infinite bad listings is why you and fast eddie don’t get it. Those listings you guys look at, that have been on the market since 2010 are not real listings. If you haven’t sold your home in a year, your pricing is not realistic. You and fast Eddie show examples of these houses like they are the market. Go look at the sales data and show me how many overpriced homes are being sold. I would say most homes sold in the past 3 years, have been for good values. Most of these homes being sold in the past 3 years are people that were forced to sell and had to sell below value to someone like you.

    That’s why the inventory sucks so bad. No one that doesn’t have to sell is selling. Most of the sales are people who suck at life, never took care of their property, and are now forced to sell for whatever reason. Homes that are turn-key, will sell above asking price because there are few sellers ,who actually take care if their homes, willing to sell their homes. Chances are, if they take care of their home, they are not a loser, and won’t be put into a situation where they are forced to sell.

    Don’t act like I don’t know what I’m talking about. I have had skin in the game since I was a teenager. I’m not trolling either. I seek intellectual conversation about my three favorite subjects….real estate, economics, and politics. It’s not easy to find people capable of carrying a intellectual based conversation on those issues.

    Bystander says:
    January 16, 2015 at 12:59 pm
    Punkin,

    Take no credit. Your self-flagellating posts were ones I skipped over. The issue is not low inventory in NY metro area. It is quality for the price, and especially taxes as component of total cost of ownership. I had hundreds of homes to choose from, but only a few were worth purchasing. If you want to pay 500k for a hobbit size home on a busy street with 100k reno costs then listings are infinite. Even in a tony town, it is overpriced. People are pricing bc town is desirable , not the house. This is tough dynamic and requires much sacrifice and patience, especially when no one is giving you the home at a discount.

  65. JJ says:

    I would eat those folks up-alive. Two years ago I grieved and won a small reduction, I decided to reject it and go to mediation as I was told 99% worse case they would let me take the small amount, best case I get more. Well they denied me and gave me zero, then I filed a court fee to take it to Court, the Court was overwelmed so knocked it back to assessor for them to try and close it out. At same time I was filing via a different method for Sandy Damage.
    So I had Assessor, Mediation, Courts, Assessor Again, Mediation Again and Sandy Grievance all going on at same time in a single tax year. Finally, one of the them the Sandy one gave me 66% off and closed out the assessor and mediation file.Assessor was even mad as said I went to land value.But she could not undo it. Little did she know I was going retroactive two years and ahead two years I had like ten open grievances on my house. The applied that one value back two years and forward two years to close out all of them. Right now I have zero in system. It was literally a case of shock and awe I overwelmed them as acting by myself I have zero cost of labor and unlike a lawyer I get 100% of savings.

    In the condo entity wide I have around 37 open tax grievances!!! Assessor told me it is a huge massive file that someone dropped on her desk!!! She joked are you trying to overwelm the assessor office. OH YEA – I know she is just going to make an offer and give up.

    NJ folks give up too easy

    Juice Box says:
    January 16, 2015 at 2:32 pm
    The way the deadline for the property tax assessment appeal in Monmouth county was a short window, tax assessment cards sent out with the 5% increase around Thanksgiving and deadline for appeal was January 15th. About 6 weeks to file, rest of state is apparently April 1st.

    *For all counties, other than Monmouth, the filing deadline for 2015 Regular Assessment Appeals is April 1, 2015.

    https://secure.njappealonline.com/prodappeals/login.aspx

  66. The Great Pumpkin says:

    Exactly!!! Fast Eddie and bystander, did you read this? Does it make sense? Homes that are selling are nowhere near overpriced. The 1994 price compared to 2014 price matches inflation. So you want to wait for some imaginary drop that is going to come, right? What’s going to happen is that inflation is going to kick in hard, resulting in a higher price for houses by the end of the decade. Buy now, and make some money off of the inflation game. Stop calling me an idiot, and take my advice. You have to be stupid or overthinking the situation to not understand that you should be taking advantage of the low part of the real estate cycle right now. But wait until inflation kicks in and then realize you should have listened to that idiot pumpkin. Then you will realize who should have been calling who the idiot.

    clotluva says:
    January 16, 2015 at 2:48 pm
    47 Joyce,

    There are two things that stand out in my mind.

    First is the >50% drop from the 2010 fantasy asking price to the actual 2015 market value price.

    But also, the 50% INCREASE from the 1994 market value to the 2014 market value (which more generally matches the overall rate of inflation). The 2014 selling price was in line with traditional measures. It’s only in relation to the extended bubble asking prices that the actual market value looks weak.

  67. The Great Pumpkin says:

    My brother just had his offer accepted for a property in ocean city. He is 32 and that is his second property purchase. So that’s two millennials I have pointed out in the last two weeks that are purchasing property. Plus, bystander bought this week and I never thought he was going to buy something. Yes, housing is dead!!! Keep listening to fast Eddie types.

  68. chicagofinance says:

    Anyone? Didn’t think so……

    Chicago Economics Society

    Chicago Booth Alumni Club of New York City

    January 30, 2015: 6:30 PM – 8:30 PM

    U.S. Monetary Policy in the Age of Quantitative Easing

    New York Athletic Club
    180 Central Park South
    New York, New York

    Event Details

    As president and chief executive officer of the Federal Reserve Bank of St. Louis, James Bullard participates in the Federal Open Market Committee (FOMC), which will hold its first meeting of 2015 on January 27-28. The FOMC blackout period on public discussion by all Federal Reserve Bank employees ends on Thursday, January 29. Friday, January 30, is the first date President Bullard will be able to give public remarks and share insights on Federal Reserve Bank policy. This is a rare opportunity to get the news about the news after reading the morning’s papers.

    Dr. Bullard joined the Federal Reserve Bank of St. Louis in 1990 as an economist, becoming president in 2008. In the wake of the financial crisis, he supported quantitative easing and warned about the possibility of the United States falling into a Japanese-style deflationary trap. He has also argued that the U.S. output gap may not be as large as many estimates suggest.

  69. Happy Renter says:

    [63] “Going to see Selma tonight in supposedly diverse Montclair.”

    Be sure to check your privilege on the way in.

  70. The Great Pumpkin says:

    I’m passionate about these subjects. I’m not trying to get under anyone’s skin. I’m sorry that I don’t agree with what you are saying. You can laugh at my ideas and position, but don’t call me a troll unless you are looking for something else to be wrong about.

    Fast Eddie says:
    January 16, 2015 at 1:54 pm
    Bystander,

    Don’t waste your time. S(he) is a f.cuking troll who is absolutely clueless and is trying to get a rise out of everyone. It’s laughable in a really annoying way. Don’t believe a word S(he) says.

  71. The Great Pumpkin says:

    Guy seems like he holds similar positions to me.

    “Dr. Bullard joined the Federal Reserve Bank of St. Louis in 1990 as an economist, becoming president in 2008. In the wake of the financial crisis, he supported quantitative easing and warned about the possibility of the United States falling into a Japanese-style deflationary trap.”

  72. Fast Eddie says:

    Go f.uck yourself.

  73. jcer says:

    JJ your an amateur at tax assessor badgering. My father wrote the book on this, he beat up the assessor so bad the first time he grieved in 1989 they didn’t change his assessment until 2007 which he grieved again. He was paying less than 10k per year on a 4000 sqft house on 2 acres in Bergen county from 1989-2007, my realtor friend told me in 2006 he thought he could sell it for 1.4m(I think he thought my folks might want to down size…they determined that keeping the house was so cheap getting a town home would cost more!), just to give you an idea how off base the assessment was, it was assessed at 450k the original 1988 assessment was 800k. Don’t even get me started on buying property negotiating tactics, I heard it uttered by a builder the worst thing he’d even done in his life was sell a home to my father. I’m pretty sure being annoying and difficult are his business specialty.

  74. 1987 Condo says:

    So are we looking for fair assessments or just that best deal any single person can get for themselves…and also is annoying and difficult the traits one aspires to?

  75. The Great Pumpkin says:

    If you are getting angry, I won’t waste my time trying to help you. I’m seriously trying to help you. You are in tunnel vision mode. I’m trying to open your mind and help you to see things differently. I don’t have a hateful bone in my body. You are a smart guy. I have no doubt about that. I’m not trying to get under your skin. I just think you are stuck in this one mode of thinking (that did apply to the 2002-2010 era) and can’t get out. Things have changed. We already hit the bottom. I’m just trying to get you to realize this. You used to be right, but it’s 2015, and things have changed.

    I wouldn’t hang around this place if it wasn’t filled with highly intelligent individuals obssessed with the same topics as myself. I have an extreme amount of respect for every participant in this blog. Thank you for the different perspectives you all bring. You learn so much from hearing educated individuals with much different beliefs duke it out in a debate. That’s how you learn and grow, and grow I have since I started participating in this blog. I thank every one of you. This is the type of educational environment that feeds the growth of the human mind. I feel like the blog is a saloon during the enlightenment period. We are just philosophers challenging each other on a day to day basis.

    Fast Eddie says:
    January 16, 2015 at 4:42 pm
    Go f.uck yourself.

  76. Juice Box says:

    re # 71 -re: Didn’t think so……”

    Snooze fest, only way I’d go is if we hit Scores afterwards.

  77. jcer says:

    JJ really understands dealing with the government, the way you win is by wearing them down. Fair would have been a reasonable assessment in 1989, the assessment in 1989 was probably fair after grieving it was 60k more than the purchase price 6 months earlier, property prices cratered in the late 80’s. The fact that the assessor got his butt handed to him meant that they didn’t dare try to make him pay more(For quite some time, even with renovations). When they reassessed again the taxes doubled, they went up too much he got it down to probably the appropriate level. The thing is it is so much work to fight someone that they probably will wait until without a doubt he is paying too little to try to get him to pay more. That’s not the intention but what happens.

    The difficult and annoying only comes into play if you try to get one over on him. If you make a deal you better live up to or lets just say he buries you in legal filings to the point you wish you were dead. When dealing with the legal system in this country that’s how you win; you get the other party to capitulate by making things annoying and difficult.

  78. Liquor Luge says:

    punkin (40)-

    In your own special hall of fame of ludicrous posts, this one takes the cake. What instances can you point to in the history of FedCo to prove that they are even capable of promulgating “controlled” inflation? Also, what is the recent result of FedCo’s attempts to stim even 2% interest (hint: the correct answer would be “failure”)?

    Finally, in what universe is 10% inflation anything other than a clusterfcuk, teetering toward total disaster? And, if we got to 10% inflation, what empirical evidence can you present that this would somehow be better than a deflationary collapse?

    Plume says you have a brain. It would be fun if you came to a GTG so we could shatter your head and watch to see what kind of dessiccated nugget falls out.

    “I disagree. I think there is a much better chance of controlled inflation, as opposed to runaway inflation. I’m not saying it is not possible. I’m just saying that it is highly more likely to reach at most 10% as opposed to runaway inflation. I also will take runaway inflation as opposed to a deflationary spiral any day of the week.”

  79. Liquor Luge says:

    bystander (48)-

    You should get tested for environmental illness if you entered that dump.

  80. Liquor Luge says:

    toxic (52)-

    Forgiven mortgage balances are weighed against the borrower’s net worth now to determine whether a short sale is a taxable event. In most cases, these types of transactions create no new tax burden to the seller, as they’re tapped out long before.

    BTW, this is the way it always was until the Mortgage Forgiveness Relief Act.

  81. Liquor Luge says:

    fka (54)-

    This kid might want to hire a food taster ASAP.

    “A 16-Year Old Programmer Just Made a Plugin That Shows Where Politicians Get Their Funding”

  82. Liquor Luge says:

    punkin (78)-

    I have zero respect for you. In fact, I’d say you were an imbecile, but that’s an insult to those who are genuine imbeciles. You have about half the intelligence you believe yourself to possess, and you choose to squander the meager output of your shriveled and truncated brain in a relentless attempt at slow playing this blog down to your level of complete intellectual vacuity.

    “I wouldn’t hang around this place if it wasn’t filled with highly intelligent individuals obssessed with the same topics as myself. I have an extreme amount of respect for every participant in this blog.”

  83. Liquor Luge says:

    Sick wildebeests abound.

    “Now, if you’re not a native English speaker, “scoreboard” is an idiomatic expression generally employed by some gigantic douche-bag to remind people that he’s still winning.

    It basically means, “Whatever you’re saying, doing, or arguing doesn’t matter, because we’re winning.”

    I’ll use an example: “Yeah, the US has $18 trillion in debt and a central bank that’s nearly insolvent… but you know what? Scoreboard.”

    The point being that the dollar is ‘strong’ right now relative to other currencies. A number of currencies from the euro to the Japanese yen, for example, are all near multi-year lows.

    So, who cares about the dollar’s weak fundamentals because it’s so strong right now. Right?

    It’s important to first understand that global capital flows are extremely fickle.

    Central bankers around the world have conjured trillions of currency units– dollars, euros, yen, etc. And those currency units have to find a ‘home’ somewhere.

    If you’re holding $10,000 or even $10 million, many people just stick it in a bank.

    But if you’re sitting on hundreds of billions, you have to find a safe place to park it.

    Traditionally (and absurdly), institutional investors favor government bonds as that ‘safe place’.

    It used to be you could just park it in some western government bond and walk away for a nice dinner and a movie.

    Not anymore. Now you have to be constantly worried and alert.

    Because in an instant, the US government could shut down again. Japan could default on its prodigious debt (in excess of 200% of GDP). The eurozone could come apart.

    Any number of things could happen.

    And as a result, capital regularly shifts from one major currency to another based on the market’s assessment of risk, i.e. which one is the ‘least ugly’ right now.

    At the moment, the US dollar is choice.

    This isn’t necessarily a vote of confidence for the dollar. It’s more like a vote against all the others.

    If big institutional investors must choose between bankrupt America and bankrupt Europe, right now they choose America.

    But this is a decision that can and will be changed in an instant. Just look at the Swiss franc.

    Since September 2011, the Swiss National Bank (SNB) had essentially put a ceiling on the appreciation of the Swiss franc with respect to the euro.

    The franc had been rising for months. And I predicted in July 2011 that the SNB would intervene with some sort of controls.

    They did, shocking the world with this statement on September 6, 2011:

    “With immediate effect, [the SNB] will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities.”
    Investors yanked their money and the franc dropped like a stone.

    But a few days ago, the SNB reversed this control. They are now no longer limiting the rise of their currency.

    And the franc soared 10% almost instantly– a HUGE move for a major currency.

    Why did this happen? Because in a universe of options that only includes the dollar and euro, the dollar wins.

    But if you expand that universe even a little bit to include the Swiss franc, suddenly the real truth comes out.

    Investors have far more confidence in Switzerland than the United States. They’d rather hold francs.

    The next one to watch is the Hong Kong dollar.

    Right now the HK dollar is pegged to the US dollar. But I’ve said it before: there may likely come a day when the Hong Kong Monetary Authority stops importing US monetary policy and abandons this peg.

    We’ll see the same immediate surge. And anyone holding HK dollars will have a lot to gain.”

    http://www.sovereignman.com/trends/about-that-strong-dollar-15956/

  84. joyce says:

    Let’s listen to the guy who was given a big discount by one family member and bought with the credit of other family members… who then took his own money/credit and bought in 2006. Tremendous track record.

    The Great Pumpkin says:
    January 16, 2015 at 4:16 pm

    Don’t act like I don’t know what I’m talking about. I have had skin in the game since I was a teenager.

  85. Liquor Luge says:

    joyce (87)-

    Put this dolt on a level playing field, and he’d probably screw up a peanut butter sandwich.

  86. NJT says:

    #87 (God I loved the 80s) Joyce

    Not defending the guy (he’s a big boy, he can/can’t do it) but…no doubt he’s had to deal with tenants. I’ve been since 1996 (took a break for almost a decade because the quality declined so far…it wasn’t worth it).

    When working with young people (just married or about to be) I always say to them:

    “Your first house should be a duplex”.

    Not just because it’s a financially wise endeavor but also a learning experience.

    Me: You want to be in Management, right?
    Them: Yeah.
    Me: Being a Landlord will teach you all about it.

  87. Liquor Luge says:

    Shooting yourself in the hand or foot is also a learning experience. Wouldn’t recommend it, though.

  88. The Great Pumpkin says:

    I respect what the fed has been doing. I personally think that they have been doing a great job. This economy was over and they saved it. People rip the fed, but I would like to see them do a better job.

    I believe they have done a hell of a job controlling inflation since the 80’s. They are learning from their mistakes and evolving the way they understand the economy. Meaning, this isn’t your grand daddy’s economy. A lot of the old economic principles don’t apply to the complex economic system of today.

    You stated that there would be runaway inflation. I responded by disagreeing, stating inflation would reach at most levels of 10%. That’s the highest I think it will get. Why? Avg rates have been around 7% since the 80’s. When the economy starts to really heat up and they needed to cool the economy off, rates of say 11-12% would def put a dampener on the economy. This leads me to believe that an inflation rate of 10% max, imo.

    Runaway inflation in my book is out of control inflation. 10% does not qualify as out of control inflation in my book. 10% for 10 years would be 100%. That’s not healthy, but far from totally out of control.

    “In your own special hall of fame of ludicrous posts, this one takes the cake. What instances can you point to in the history of FedCo to prove that they are even capable of promulgating “controlled” inflation? Also, what is the recent result of FedCo’s attempts to stim even 2% interest (hint: the correct answer would be “failure”)?

    Finally, in what universe is 10% inflation anything other than a clusterfcuk, teetering toward total disaster? And, if we got to 10% inflation, what empirical evidence can you present that this would somehow be better than a deflationary collapse?”

  89. The Great Pumpkin says:

    I came up with down payment from saving my butt off. My mother co-signed for the loan. Bought in 1999 and last week of 2011.

    joyce says:
    January 16, 2015 at 7:48 pm
    Let’s listen to the guy who was given a big discount by one family member and bought with the credit of other family members… who then took his own money/credit and bought in 2006. Tremendous track record.

  90. The Great Pumpkin says:

    I’m def nowhere near your level of intelligence. Your problem is you are too damn smart for your own good. You over analyze the situation and always come to the conclusion that it’s never going to recover. You are also too damn negative. Instead of Liquor Luge, how about Thomas Hobbes. You share his same outlook. Come on over and check out the world through the eyes of Locke.

    Liquor Luge says:
    January 16, 2015 at 6:21 pm
    punkin (78)-

    I have zero respect for you. In fact, I’d say you were an imbecile, but that’s an insult to those who are genuine imbeciles. You have about half the intelligence you believe yourself to possess, and you choose to squander the meager output of your shriveled and truncated brain in a relentless attempt at slow playing this blog down to your level of complete intellectual vacuity.

  91. The Great Pumpkin says:

    94- You def Prob are a genius. Your thoughts run deep. Knowledge is of an encyclopedia. Writing style and use of language is def Ivy League. Think positive and put that brilliant mind to work.

  92. The Great Pumpkin says:

    Thank you, it takes one to know one. It’s an art form to know how to handle tenants. I was young too, so the respect level was tough. Had to earn it.

    NJT says:
    January 16, 2015 at 8:52 pm
    #87 (God I loved the 80s) Joyce

    Not defending the guy (he’s a big boy, he can/can’t do it) but…no doubt he’s had to deal with tenants. I’ve been since 1996 (took a break for almost a decade because the quality declined so far…it wasn’t worth it).

    When working with young people (just married or about to be) I always say to them:

    “Your first house should be a duplex”.

    Not just because it’s a financially wise endeavor but also a learning experience.

    Me: You want to be in Management, right?
    Them: Yeah.
    Me: Being a Landlord will teach you all about it.

  93. joyce says:

    “10% for 10 years would be 100%.”

    the defense rests

  94. joyce says:

    Juice Box,
    Thanks

  95. joyce says:

    “My mother co-signed”

    What do they call someone with a co-signer? Unqualified.

  96. The Great Pumpkin says:

    Jeez, I forgot to compound. I was trying to make a point.

    joyce says:
    January 16, 2015 at 9:45 pm
    “10% for 10 years would be 100%.”

    the defense rests

  97. The Great Pumpkin says:

    You are right, I couldn’t even get it from a conventional bank. No one takes a 19 year old serious. Not my fault.

    joyce says:
    January 16, 2015 at 9:46 pm
    “My mother co-signed”

    What do they call someone with a co-signer? Unqualified.

  98. Liquor Luge says:

    punkin (94)-

    Like matter and anti-matter, you = anti-intelligence (which I guess = blood stupid)

    “I’m def nowhere near your level of intelligence.”

  99. Liquor Luge says:

    No, punkin. People don’t take idiots serious.

    “No one takes a 19 year old serious.”

  100. The Great Pumpkin says:

    Your free to your own opinion. That’s another weakness of yours. You know you are smarter than the avg human being and you act like it. This causes you to underestimate other people’s level of intelligence if they do not agree with your thought process. Open minded my friend. Everyone is smart in their own way.

    Liquor Luge says:
    January 16, 2015 at 9:53 pm
    punkin (94)-

    Like matter and anti-matter, you = anti-intelligence (which I guess = blood stupid)

    “I’m def nowhere near your level of intelligence.”

  101. joyce says:

    “No one takes a 19 year old serious. Not my fault.”

    It probably had something to do with the Bank thinking you didn’t have enough income or assets. Sons of bt-ches

  102. The Great Pumpkin says:

    Lol…nice.

    Joyce, are you a lawyer? If not, you should, you would be really good at it. You build a case like no other. Always presented in a clear precise manner.

    joyce says:
    January 16, 2015 at 9:59 pm
    “No one takes a 19 year old serious. Not my fault.”

    It probably had something to do with the Bank thinking you didn’t have enough income or assets. Sons of bt-ches

  103. Liquor Luge says:

    punkin (104)-

    Just a heads up, punkin’: they stop telling kids this around the second grade now.

    “Everyone is smart in their own way.”

  104. The Great Pumpkin says:

    Fast Eddie, check this out. Received multiple offers. Bought exactly one year ago for 270,000. Sanded the floors and painted. 50,000 increase in one year. I’ll let you know what it sells for when I find out.

    See what I found on #Zillow!
    http://www.zillow.com/homedetails/38057484_zpid

  105. The Great Pumpkin says:

    108- it’s a co-workers. He is getting divorced after a year.

  106. Hi there, I enjoy reading through your post. I like to write a little comment to support you.|

  107. Toxic Crayons says:

    http://www.nj.com/essex/index.ssf/2015/01/another_newark_merchant_shoots_armed_robber_police.html#incart_river

    On Thursday, a Newark store owner shot and wounded an armed man who entered her business, demanding cash.
    Paul Milo | NJ Advance Media for NJ.com
    NEWARK — For the second time this week, someone working at a city business fired a weapon in self-defense against armed robbery suspects, police said Friday.

    Shortly before 8:30 p.m. Thursday two men burst into a variety story in the 400 block of Central Avenue, with one man ordering customers onto the floor and threatening to shoot if the owner did not give the pair money. One of the suspects, 23-year-old Durell Hearn, was wielding an AK-47 pistol and fired a warning shot, department spokesman Sgt. Ron Glover said.

    The owner of the business, who was behind the counter, reached for a handgun she keeps in the store and fired a number of rounds at Hearn and the other man, Arthur Price, 50.

    The woman, whose name was not released, struck Hearn in the leg as the two men fled the store. Hearn fired a shot as he fled but did not strike anyone, Glover said, adding that Hearn’s gun was later found on the sidewalk outside the store.

    Price later told police he drove Hearn to University Hospital, where emergency room personnel contacted police when Price dropped off Hearn. Price’s silver Chevrolet Impala was stopped by hospital police, Glover said.

    Both men have been charged with robbery, possession of a weapon for an unlawful purpose, unlawful possession of a weapon and conspiracy. Hearn was listed in stable condition.

    On Tuesday, the owner of a grocery store on Irvine Turner Boulevard shot and killed an armed man who entered the business, demanding cash. Neither he nor the woman in Thursday’s incident face criminal charges, authorities said.

    Paul Milo may be reached at pmilo@njadvancemedia.com. Follow him on Twitter @PaulMilo2. Find NJ.com on Facebook

  108. Toxic Crayons says:

    Mr. Gluteus Maximus, is it also your oppinion that the woman who discharged her weapon in self defense (described in my previous post) should also be charged with a crime?

  109. Toxic Crayons says:

    @BusinessBlogz: Baraka, civic leaders say ‘Newark is open for #business’: http://t.co/fK8g1Yk4hc: NEWARK — Weeks after reformin… http://t.co/c5VBQ9pVSC

  110. joyce says:

    What’s his ROI after all costs? = not much, if anything

    The Great Pumpkin says:
    January 16, 2015 at 11:20 pm
    Fast Eddie, check this out. Received multiple offers. Bought exactly one year ago for 270,000. Sanded the floors and painted. 50,000 increase in one year. I’ll let you know what it sells for when I find out.

    See what I found on #Zillow!
    http://www.zillow.com/homedetails/38057484_zpid

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