Monthly Archives: October 2016

Lower-end Overassessed?

From the Record: Municipal tax offices slow to respond to a tepid real estate recovery, especially in modest neighborhoods Homeowners at the lower end of North Jersey’s housing market — still suffering disproportionately from the real-estate slump — are now … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 85 Comments

Short commute costs big money

From the NYT: What’s Your Commute Time Worth? What’s a minute spent commuting worth to home buyers? To find out, using data compiled by the appraisal company Miller Samuel, we mapped recent median sales prices for single-family homes in suburban … Continue reading

Posted in General | 108 Comments

Pay Up Sucker

From Slate: Princeton Pays Up When Princeton University announced it had settled litigation with area homeowners who had argued it is a profit-making institution in order to challenge its exemption from property taxes, it appeared to be paying millions of … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 105 Comments

Bergen County too prestigious to foreclose

From the Star Ledger: How long it takes to complete a foreclosure in N.J. by county New Jersey continues to buck the national trends when it comes to the dubious housing market. Recent data shows the average time for a … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 45 Comments

Grrrriiiinnnddd

From the Record: Home prices in NYC region rise, but slowly Home prices in the region continue to rise, but at the slowest pace in the nation, the S&P CoreLogic Case-Shiller index reported Tuesday. Values rose 1.7 percent in the … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 57 Comments

Lowball! Billionaire Edition

From the WSJ: Chinese Billionaire Nabs One57 Condo For a Mere $23.5 Million A three-bedroom unit on the 62nd floor of One57, a newly built condominium towering over New York City’s Central Park, has sold for $23.5 million, or 25% … Continue reading

Posted in Lowball, NYC | 115 Comments

Yes, if only America didn’t hate small homes

From the LA Times: Op-Ed Could micro-apartments solve the affordable housing crisis? Cities across America are facing a devastating housing affordability crisis. One obvious potential solution is micro-units. Adding density without affecting the skyline, they offer housing at a lower … Continue reading

Posted in Demographics, Economics, Housing Recovery | 57 Comments

So far away

From the Star Ledger: Home prices in N.J. slower to climb than previously thought, report says While New Jersey home prices are climbing steadily, they won’t reach their previous peak for another seven years, according to a report. Jeffrey Otteau … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 27 Comments

NJ adds jobs at a lackluster pace

From the Record: New Jersey’s unemployment rate holds at 5.3 percent The New Jersey economy generated 2,700 total jobs in September, according to preliminary estimates from the U. S. Bureau of Labor Statistics, continuing to produce jobs at a moderate, … Continue reading

Posted in Economics, New Jersey Real Estate | 47 Comments

Is the housing business ready for millennials?

From HousingWire: When it comes to Millennial homebuyers, time really is money To some degree, the Millennial homebuyer market (especially the first-time homebuyer) must seem like the Holy Grail or a unicorn herd to mortgage lenders. It’s a large segment … Continue reading

Posted in Demographics, National Real Estate | 64 Comments

First signs of foreclosure timeline speeding up

From RealtyTrac: September Foreclosure Activity Decreases 24 Percent From a Year Ago to Lowest Level Since December 2005 Average time to foreclose decreases annually for first time in report history Properties foreclosed in Q3 2016 took an average of 625 … Continue reading

Posted in Foreclosures, National Real Estate | 144 Comments

Approaching Buildout?

From the Record: Single-family homes stay in the game, but North Jersey land scarce to build them Buyers looking for new, single-family homes in New Jersey once had plenty to choose from. As the state’s suburbs boomed in the second … Continue reading

Posted in New Development, New Jersey Real Estate | 74 Comments

Can Uber save NJ towns money?

From CleanTechnica: Town Of Summit (NJ) Using Uber To Relieve Congestion At Train Station Parking Lot While Uber is currently used mainly as a taxi substitute/alternative, services like Uber (or Lyft) could be used in a number of other fashions … Continue reading

Posted in Economics, New Jersey Real Estate | 39 Comments

Welcome the immigrants, expel the millennials

From HousingWire: Immigrants becoming most important group for housing? The homeownership gap between immigrants and the native-born is closing as more foreign-born U.S. residents move towards buying homes, according to a new report from Trulia. Trulia used the U.S. Census … Continue reading

Posted in Demographics, Economics, National Real Estate | 127 Comments

If Brooklyn is “cool”, they can keep it.

From the Jersey Journal: Jersey City ‘not cool,’ has ‘no vibe,’ N.Y.C. exec says An executive with co-working firm WeWork, which is slated to open a location in Journal Square, doesn’t appear to think much of Jersey City. Sean Black, … Continue reading

Posted in Humor | 89 Comments