Monthly Archives: May 2016

Most of NJ still has a long way to go

From the Star Ledger: N.J. home prices slowly recover from housing bubble – See how your town fared Slowly but steadily, New Jersey’s housing market is recovering. The average home sale price in New Jersey in 2015 was $397,279, according … Continue reading

Posted in Demographics, Economics, Housing Recovery, New Jersey Real Estate | 35 Comments

Megahome bubble?

From the NYT: A Worrisome Pileup of $100 Million Homes One of the latest symbols of the overinflated luxury housing market is a pink mansion perched above the Mediterranean on the French Riviera. The 13,000-square-foot property, built and owned by … Continue reading

Posted in Economics, National Real Estate | 5 Comments

Men, evidence that your wife should be responsible for picking your house

From the Philly Inquirer: Study: Homeownership favors men, but not in Pa., N.J. Homeownership is more profitable for men than for women, a study released Thursday by the real estate search engine RealtyTrac maintains. Analyzing 2.1 million single-family homes nationwide, … Continue reading

Posted in Demographics, Economics, Humor, New Jersey Real Estate | 81 Comments

FHFA: 19 consecutive quarterly price increases

From HousingWire: FHFA: Home prices increase again, rise 1.3 While home prices only increased a meager 1.3% in the first quarter of 2016, it’s added onto a long string of increases; 19 consecutive quarterly price increases to be exact. According … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 135 Comments

Skipping the starter

From NJ101.5: NJ millennials are skipping ‘starter homes’ and going for these instead The term “starter home” may be on the path to extinction, at least here in New Jersey. It seems many young buyers are skipping that first step … Continue reading

Posted in Demographics, Economics, Housing Recovery | 96 Comments

South Jersey recovery key for NJ

From the Press of Atlantic City: South Jersey real estate sales jumped last month, prices mixed Homes sold faster all over South Jersey last month, with the number of closed deals up sharply in most of the region from April … Continue reading

Posted in Housing Recovery, South Jersey Real Estate | 50 Comments

Ain’t no America left for Americans like me

Posted in General | 74 Comments

April Existing Home Sales beat estimates

From CNBC: Existing home sales hit 5.45 million units in April, vs. expectations of 5.4 million U.S. home resales rose more than expected in April, suggesting the economy continues to gather pace during the second quarter. The National Association of … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 18 Comments

The Zombie Census

From the Philly Inquirer: Still No. 1: New Jersey’s supply of ‘zombie’ homes The number of U.S. houses left vacant because of foreclosure was down at the start of the second quarter compared with the same period last year. But … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 38 Comments

Price Reduced! Frick Mansion Still Empty

With the Realtors posting snarky lowball pieces about overpriced NJ houses – maybe it is time to call it quits. From Realtor.com: 6 Years Later, New Jersey’s Most Expensive Home Still Waiting for Its First Resident In this age of … Continue reading

Posted in Humor, New Jersey Real Estate, Price Reduced | 38 Comments

A billion dollars in the hole

From the Record: N.J. facing possible $1.1B budget gap over 2016, 2017, official says New Jersey’s state budget could face a revenue shortage of $1.1 billion over two fiscal years, the state Legislature’s nonpartisan budget office said Tuesday, a dire … Continue reading

Posted in New Jersey Real Estate, Politics | 76 Comments

Warehousing Seniors Cheaply

From the NYT: New Jersey Groups Convert Empty Buildings Into Homes for Seniors Walk the halls of the Senior Residence at St. Peter the Apostle and you can see remnants of the convent that once was. The modestly sized rooms … Continue reading

Posted in New Development, New Jersey Real Estate | 77 Comments

Sandy wrecks go cheap

From the Record: Buyers line up for 400 homes wrecked by Superstorm Sandy Matt Price and his wife, Carla, are gambling that the devastation inflicted by Superstorm Sandy will be their key to the American dream of home ownership. The … Continue reading

Posted in Housing Recovery, New Development, Shore Real Estate | 53 Comments

NJ Foreclosure Plan – We’ll deal with it tomorrow

From the Record: N.J. continues to lag nation on clearing foreclosures New Jersey led the nation in foreclosure starts in the first quarter, as the state continues to grapple with the fallout from the housing crash, the Mortgage Bankers Association … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 54 Comments

Hubler does somewhat better in the real-world market

From the Star Ledger: Notorious ‘subprime villain’ Howie Hubler unloading Rumson estate for $4.5M The former Morgan Stanley bond trader believed to have lost more money than any single trader in the history of Wall Street has put his Rumson … Continue reading

Posted in Housing Bubble, Mortgages, Risky Lending, Unrest | 103 Comments