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 2015.

Atlantic County led the way with an increase of almost 27 percent in completed sales of single-family homes over the year before, but prices continued to drop in the county, according to data from the New Jersey Association of Realtors.

The median price of a single home fell to $168,500 this April, down more than 12 percent from last year.

Cumberland and Ocean counties also saw double-digit increases in their volume of closed sales, with Cumberland’s going up 10.3 percent and Ocean’s up by 13.2 percent.

Cape May County had the smallest increase the number of single-home sales, at 4.4 percent, and prices for those properties dropped by more than 10 percent. The median price went down to $269,000.

But in the category of townhouses and condos, a popular option near the beaches and bays in many of that county’s shore towns, the number of deals was up nearly 35 percent from the year before.

And prices for those places also increased 6 percent, to a median of $429,000, all according to monthly figures from the New Jersey Association of Realtors.

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50 Responses to South Jersey recovery key for NJ

  1. nwnj3 says:

    As I predicted, Jersey City has done nothing and responds to Christie and the rest of the state with a giant FU. This will be interesting to watch.

    http://www.nj.com/politics/index.ssf/2016/05/state_busts_jersey_city_elizabeth_for_violating_or.html#incart_river_home

  2. Grim says:

    Wealthy municipalities should go the route of anarchy and remit nothing back to the state or county.

  3. Mike says:

    Wait until Elizabeth gets reassessed, guarantee to uncover a high rate of illegal multi families.

  4. Juice Box says:

    The state should shut down all entrances and exits to state roads until these cities comply.

    Oh wait we tried that in Fort Lee and people going to jail over it!

  5. nwnj3 says:

    The other part of my prediction was that Jersey City successfully avoids the reval but with the Democratic civil war underway in the state I’m not so sure. The walls are closing in on Fulop.

  6. chi says:

    stu & clot: I guess my view of youth sports is a little different. I am looking to build the overall credentials of the student so they get into a higher tier of school. If you found a Asian or south Asian hockey or football player, then they could probably get into an Ivy. Stupid parents have them play piano or violin instead……..

  7. chi says:

    clot would argue that many chefs are guilty of much worse……

    Restaurant owner found guilty of death by chicken tikka masala

    The owner of an Indian restaurant was found guilty Monday of killing one of his customers — after he cut corners whipping up an order of chicken tikka masala.

    A jury in Teesside Crown Court in North Yorkshire, England, found 52-year-old Mohammed Zaman guilty of manslaughter and gross negligence because he switched out almond powder for a cheaper ground nut mix containing peanuts, according to the BBC.

    The switch was deadly for Paul Wilson, 38, who specifically ordered the classic dish from Indian Garden with “no nuts” — the request was even written on the lid of the takeout container — because of his severe peanut allergy.

    He went into anaphylactic shock after eating the meal in January 2014 and died at the hospital.

    Wilson’s parents testified at the trial that their son was “meticulous” about taking precautions with his life-threatening allergy following his diagnosis when he was just 7.

    “He was always very, very careful whenever he was out in a restaurant or working,” said his mom, Margaret.

    His death came just three weeks after another customer was hospitalized for an allergic reaction to the nut mix from one of Zaman’s other restaurants.

    Zaman claimed he was not at the restaurant when the fatal error occurred and said he left daily operations including restocking the pantry and hiring new staff to his managers.

    The trial also revealed that Zaman was $434,000 in debt and was cutting costs by subbing the peanut blend for the almond powder as well as hiring illegal workers.

    He was set to be sentenced Monday afternoon.

  8. Essex says:

    I really wonder if some of you folks will literally implode in a puddle of blood, urine, and angst, once Hillary gets into office. Bill is baaaaaack baby. Cause, seriously I love the Donald, but his supporters are showing their true colors and that might just scare the beejesus out of most folks.

  9. Grim says:

    Best thing about Hillary is that Bill is back in the White House.

  10. Raymond Reddington formerly Phoenix says: says:

    8. I don’t understand why this guy was convicted. Who has the right to decide what a small business owner decides to put in their food? Why shouldn’t he be allowed to cut costs by putting in a cheaper almond vs peanut powder? Why is it his responsibility to find out when a worker is illegal or not?? That is the illegals problem, not the owners problem. Also, he would not be 434,000 in debt except he is forced to pay taxes, and no one should be forced to pay taxes. He should be profiting from his proper business plan using cheaper ingredients and illegal labor. Leave this man alone…

  11. Raymond Reddington formerly Phoenix says: says:

    10 The effects of drugs are the same no matter who you are (to an extent due to genetics). Sad story.
    R.I.P.

  12. The Great Pumpkin says:

    Amen. Perfect example of why regulation is needed. There are predators out there, disguised as business owners, that must be held in check.

    Raymond Reddington formerly Phoenix says: says:
    May 24, 2016 at 10:20 am
    8. I don’t understand why this guy was convicted. Who has the right to decide what a small business owner decides to put in their food? Why shouldn’t he be allowed to cut costs by putting in a cheaper almond vs peanut powder? Why is it his responsibility to find out when a worker is illegal or not?? That is the illegals problem, not the owners problem. Also, he would not be 434,000 in debt except he is forced to pay taxes, and no one should be forced to pay taxes. He should be profiting from his proper business plan using cheaper ingredients and illegal labor. Leave this man alone…

  13. The Great Pumpkin says:

    It’s the age old problem. Why do we have govt? Because of bad people. We must have rules in place for bad people. Unfortunately, in time, these bad people learn how to control the govt, therefore govt becomes bad in time. We are at that point, and must push back.

  14. Libturd questioning the gender of Hillary's Cankle fluid. says:

    I did shrooms a couple of times and peyote once. The shrooms gave me the worst diarrhea ever. The peyote was pure bliss, but impossible to find. Ah to be young again.

  15. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Yes. We need regulations to charge us a nickel per plastic bag at ShopRite to make sure that Lequicious’ welfare check baby is not eating the paint off of their section 8 door frame since she is too busy smoking her WIC checks instead of working.

  16. D-FENS says:

    Why is the argument regarding regulation all or none.

    The point is that our state legislature is for sale to the highest bidder. Regulation that benefits lobbyists and their interests is the result.

    Regulation isn’t about product safety or protecting consumers anymore..in this context.

  17. The Great Pumpkin says:

    This is a sign of govt being controlled by “bad people.”

    Libturd questioning the gender of Hillary’s Cankle fluid. says:
    May 24, 2016 at 11:01 am
    Yes. We need regulations to charge us a nickel per plastic bag at ShopRite to make sure that Lequicious’ welfare check baby is not eating the paint off of their section 8 door frame since she is too busy smoking her WIC checks instead of working.

  18. The Great Pumpkin says:

    Moral of the story. Humans suck. There will always be one trying to cheat the system. The idiot then will tap themselves on the back for taking the easy way out. It’s okay, he is incapable of understanding why cheating the system is bad. Instead he looks at all the good people following the rules of the system as a bunch of idiots.

    That’s why you need to get strict. Anyone caught doing something shady is put on trial with the consequence of death. No such thing as jail, you commit a crime and are found guilty, you are dead. This will solve a lot of the problems. Gee, I wonder why our legislatures will never put in place such a law. Yes, so they don’t end up on the execution line.

  19. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Pumps…it’s too late. Hate to bust your optimism, but even Bernie wouldn’t have succeeded. The systemic change of getting money out of government will take generations and it won’t happen until the amount of crumbs diminishes much more than they currently have.

  20. The Great Pumpkin says:

    Man, a lot of those jersey towns that traded off their commercial space for residential space are going to be sorry. Patience is a virtue.

    Glad my town held strong against the developers during the bad times in the past 10 years. Those commercial spaces are going to be prime locations for some internet store’s warehouse.

    “Over the past year, prime warehouse rents are up 9.9 percent across the U.S. and up by double-digit amounts in some large urban areas, according to a recent report. In some cities, surging demand has helped set off a speculative-building boom unlike anything in recent memory. In the first three months of the year, warehouse developers in the Chicago area broke ground on more speculative projects than in any quarter during the past two decades, according to Ryan Bain, a vice president at CBRE Group. There are currently 28 warehouse users in the market for 18 million square feet of space, triple the available supply, Bain said.”

    http://www.bloomberg.com/news/articles/2016-05-24/retailers-fuel-a-warehouse-boom-racing-to-keep-up-with-amazon

  21. chicagofinance says:

    SNL is a void……but this sketch is one of the best in years…..
    https://www.youtube.com/watch?v=MJEAGd1bQuc.

  22. The Great Pumpkin says:

    “So while it’s fun to deal in superlatives—the first time in the modern era!—these seem to be long-term shifts, not hordes of recession-wary millennials suddenly dashing from the altar to their parents’ basements. In fact, if you go back far enough, one shift doesn’t even look that shifty. The share of young adults living in their parents’ home was almost exactly the same in 1900 as it was in 2014.

    “If we look back over the last century, we can see that the rush out of the parental home was a post-World War II phenomenon,” wrote Richard Settersten of Oregon State University in a 2014 Washington Post article.

    Millennials and their parents may also simply be more comfortable with living together. Jeffrey Jensen Arnett, a research professor of psychology at Clark University who studies “emerging adulthood,”5 said that during 20 years of researching this, he has seen “an increasing acceptance that it takes longer to grow up than it used to,” adding that there’s now less stigma attached to remaining at home with one’s parents.
    “There’s a lot of good will between parents and children in this generation,” Arnett said, adding that “boomers have succeeded in having these relationships with their children, that by the time they’re in their twenties, it is almost like a friendship. It will never be quite like a friendship, but it’s a lot closer to that than it was in previous generations.”

    Arnett admires “that they have this kind of support from their parents” and their parents “can have this kind of close relationship before the emerging adults go off for the last time”

    http://www.bloomberg.com/news/articles/2016-05-24/more-young-adults-now-live-with-parents-than-partners

  23. D-FENS says:

    Analysis of NJ School state aid and it’s effects on property values…

    http://njeducationaid.blogspot.com/2016/05/loss-of-property-wealth-in-njs-most.html

  24. chicagofinance says:

    Who wrote this pile of excuse making excrement?

    D-FENS says:
    May 24, 2016 at 1:34 pm
    Analysis of NJ School state aid and it’s effects on property values…

    http://njeducationaid.blogspot.com/2016/05/loss-of-property-wealth-in-njs-most.html

  25. D-FENS says:

    27 – The theme of that blog is that the Abbott distribution of school aid is unfair…do you disagree?

  26. leftwing says:

    Interesting intersection of two oft discussed topics:

    http://www.nj.com/somerset/index.ssf/2016/05/parents_must_pay_nj_public_school_district_54k_in.html

    BTW, went into the city yesterday by way of JC to meet my college roommate for lunch. Been a while since I was through there. Entirely different world down by GS/Hyatt, etc.

    Wow.

  27. Libturd questioning the gender of Hillary's Cankle fluid. says:

    “Exposing the Savage Inequalities”

    Savage:
    adjective
    1.
    fierce, ferocious, or cruel; untamed:
    savage beasts.
    2.
    uncivilized; barbarous:
    savage tribes.
    3.
    enraged or furiously angry, as a person.
    4.
    unpolished; rude:
    savage manners.
    5.
    wild or rugged, as country or scenery:
    savage wilderness.
    6.
    Archaic. uncultivated; growing wild.

    So which one is it? The moment I see sensationalism I stop reading. For that site, I stopped before I even got to the story. No need to read it. I know their opinion already.

  28. nwnj3 says:

    It’s pretty simple, every school system should get the same amount per kid between local taxes and state aid. That restores basic fairness to the system.

  29. nwnj3 says:

    Only a hack or a shill would even use a word like “underaid”, took me a minute to figure out what it even meant.

  30. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Ok…so I read it. :P

    “So, in underfunded school/high tax conditions, is it any wonder that almost all of these underaided towns see declines in their real estate markets that exceed the state’s average? Of the 40 most underaided non-regional districts, 35 have lost more than the state’s average 11% loss!”

    Who is responsible for the underfunded school and high tax conditions. Rather than taking more money than the state already does from the highly performing districts (who in most cases get next to nothing in state aid to begin with), why not figure out where the money in the poorly performing high taxed towns are going and make some cuts there and route the additional dollars to their schools rather than to pensions for lifeguards for example.

    The issue always comes down to what support there is in the home. But educators always equate additional school spending to success. This is not the case unfortunately. The best predictor of school performance is the wealth of the family of the student. Sorry, but you don’t get a bigger salary just because your students suck.

  31. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Moose…

    You are good people. Gator just made me aware of your drop off for Daniel. We really appreciate it.

  32. Essex says:

    Meduse, previously marketed for sale by Fraser Yachts, has now been sold at an asking price of $25,000,000. The 60m yacht entered the market place in February 2012 and was then asking $34,500,000.

    Meduse was famously part of Paul Allen’s personal fleet which still includes the 126m Octopus and 92m Tatoosh. The 46.9m Charade (now renamed to BG) which was sold in August 2014 at an asking price of $13,900,000 by Northrop & Johnson was also previously part of his fleet.

    Mr. Allen also tried selling Tatoosh, listing her for sale in 2010 with Fraser Yachts at an asking price of $160,000,000. She was however taken off the market in 2014.

    Built by Dutch shipyard, Feadship in 1996, Meduse was refitted in 2011 with a comprehensive rebuild of her engines. Accommodating 13 guests in 7 cabins, the yacht features a large main salon on the main deck with a piano. Aft of the deck is a sitting area with two tables for six guests each.

    The skylounge is planned as a music recording studio with a skylight on the bar and sitting area. On the sundeck are located large sun pads as well as a Jacuzzi and extensive sitting area under a hard top. Other features include a helipad and private cinema.

    From a technical standpoint, Meduse is powered by twin CAT engines of 1,710hp each, giving the yacht a cruising speed of 14.5 knots and a maximum range of 5,380 nautical miles. Meduse carries a crew of 15.

  33. leftwing says:

    36. Sweet.

  34. Comrade Nom Deplume. Citizen, 2nd Class. says:

    Rut roh shaggy.

    http://investorplace.com/2013/05/29-n-j-bars-restaurants-charged-with-serving-fake-liquor/#.V0TpOj73bCS

    Check out the list. I think someone was jonesing for a certain chain

  35. Amerigeddon says:

    chi (6)-

    If you can create an Asian football or hockey player, you’re not a college advisor. You’re Dr. Mengele.

  36. D-FENS says:

    As a resident and parent living in one of the districts in that list I must say…

    Fcuk off

  37. Amerigeddon says:

    The only list that matters in this state is my personal shit list.

  38. leftwing says:

    39. One of my son’s hockey teams had an Asian kid. Nice family, good enough player. D. One issue if he went to use the boards for a clear he would send it too straight on. Puck wouldnt clear the zone and would come right back out to him. Used to joke, we must have the only Asian kid that doesn’t understand angles.

  39. Libturd questioning the gender of Hillary's Cankle fluid. says:

    39…thought of the same thing.

  40. Amerigeddon says:

    aaand…another rant moderated

  41. grim says:

    Blacklisted

  42. Anon E. Moose says:

    Gourd-anone [13];

    Amen. Perfect example of why regulation is needed.

    Sing it, Johnny One Note!

    Are you saying that we need more regulation because all the existing regulations on the food service industry worked so well? That the failing was want of a specific regulation barring the use of nuts in a dish explicitly marked “NO NUTS”?

    You play the role of leftist sucker as if right out of central casting. Troll on!

  43. Alex says:

    The Millennials have new demands…

    In an article by “The Week” magazine linked by Drudge: At Oberlin College, 1300 students have signed a petition demanding that no grade lower than a C be given, and also find alternatives to the midterm exam. This is because the students want more time to focus on their “activism”.

  44. “Chicago Finance”

    I’m sorry you couldn’t figure out what I meant by “underaided,” but I write for an audience who has some understanding of how NJ state aid is supposed to work.

    NJ has an aid formula (SFRA) that is supposed to give more money to poorer districts. You can disagree with that philosophically, but that’s how the law is supposed to work.

    I call a district “underaided” if the district’s actual aid is below what it is supposed to get. So, if a district is supposed to get from the state $9000 per student and it only gets $3000 per student it’s “underaided.”

    The large majority of the most underaided districts in NJ have seen very large losses of property wealth. Tehy are in spirals of decline. If they do not receive additional state aid their spirals of decline will accelerate as high taxes/inferior schools make them unattractive to middle-class buyers.

    I’m very pragmatic and I know that NJ’s own budget situation is awful. I therefore (repeatedly) propose that state aid be redistributed from districts like Asbury Park, Pemberton, Hoboken, Jersey City, and Keansburg (all of whom are overaided) to districts that are underaided.

  45. Brant says:

    It’s hard to locate knowledgeable individuals on this subject, but you sound like you are aware of what you are talking about! Thanks

  46. Warren says:

    Howdy, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam remarks? If so how do you stop it, any plugin or anything you can advise? I get so much lately it’s driving me insane so any assistance is very much appreciated.

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