Monthly Archives: April 2017

Otteau April Update

From the Otteau Group: April MarketNEWS NJ Home Sales Continue to Exhibit Strength In March, the number of contract purchases by home buyers exceeded the same month in the prior year for the 31st consecutive month, reflecting a 10% increase … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 95 Comments

Everyone happy about housing again?

From HousingWire: Experts: Spring home-buying season starts off with a bang The spring home-buying season is in full swing and it started off with a bang. Home prices increased in February to a new high for the fourth consecutive month, … Continue reading

Posted in Demographics, Economics, National Real Estate | 159 Comments

You were hoping for a job?

From the Star Ledger: More bad news for office leasing market in N.J., report says Office leading deals in the first quarter in New Jersey has dropped to its lowest level in nearly a decade, the Wall Street Journal reported. … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 125 Comments

Home price expectations highest since 2005.

From Gallup: More in US Expect Local Home Values to Rise Sixty-one percent of U.S. adults predict housing prices in their local area will increase in the next 12 months, up from 55% a year ago and the highest Gallup … Continue reading

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 43 Comments

Pay Up Jersey City – Just like the rest of us

From the Jersey Journal: Jersey City homeowners uneasy as long-delayed revaluation begins A five-letter word is causing heartburn in every neighborhood in Jersey City. Reval. The citywide property revaluation, Jersey City’s first since 1988, is finally underway, with inspectors knocking … Continue reading

Posted in Gold Coast, New Jersey Real Estate, Politics, Property Taxes | 19 Comments

17,500 jobs … poof

From the Star Ledger: N.J. lost 17,500 jobs in March New Jersey employers cut 19,100 private-sector jobs in March, while at the same time the unemployment rate fell to 4.2 percent, according to the latest U.S. Bureau of Labor Statistics … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 64 Comments

Just part of doing business in NJ

From HousingWire: Ex-NJ mayor sent to prison for kickbacks involving HUD funds The former mayor of Passaic, New Jersey will spend the next two years in prison after being convicted of soliciting and accepting bribes from developers who wanted to … Continue reading

Posted in New Development, New Jersey Real Estate, Politics | 65 Comments

Not the best in a decade?

From HousingWire: Here’s why the housing market continues to struggle with low inventory Tight housing inventory supply could put a strain on this year’s spring home-buying season, according to the monthly Outlook released Tuesday by Freddie Mac. The low supply … Continue reading

Posted in Housing Recovery, National Real Estate, Where's the Beef? | 71 Comments

JC overtakes Hoboken?

Really interesting piece over at Jersey Digs: In 2016, Downtown Jersey City Real Estate Proved The Better Bet Over Hoboken When Pure Properties released their last quarterly market report in January, it was the first time that Downtown Jersey City … Continue reading

Posted in Gold Coast, New Jersey Real Estate | 103 Comments

Best spring market in (almost) a decade?

From CNBC: Homes this spring are selling faster than ever Homes are flying off the shelves this spring, as demand rises and supply continues to drop. Record high prices in some local markets are not thwarting hungry buyers, as they … Continue reading

Posted in Housing Recovery, National Real Estate | 39 Comments

…except here

From MarketWatch: Foreclosure activity drops to pre-recession levels nationwide Chances are slim that a new foreclosure sign was posted on your block. The number of foreclosure filings, which include default notices, auctions and bank repossessions, dropped 19% nationwide from a … Continue reading

Posted in Economics, Foreclosures, National Real Estate | 29 Comments

2.5 month supply of homes in Brooklyn

From Bloomberg: Brooklyn Home Sales Jump Most Since ’10 With Listings Near a Low Home sales in Brooklyn jumped the most in seven years while the supply of listings hovered near a record low, pushing buyers toward bidding wars in … Continue reading

Posted in Demographics, Economics, Employment, NYC | 48 Comments

Mortgage delinquencies at 10 year low

From HousingWire: More Americans are now paying their mortgage often, and on time Mortgage delinquency rates, including loans in serious delinquency and even foreclosure inventory, fell at the start of 2017, according to the latest monthly Loan Performance Insights Report … Continue reading

Posted in Demographics, Economics, Employment, Mortgages, National Real Estate | 22 Comments

Local realtors: It’s a great time to sell … and buy!

From NJ1015: Demand for housing in New Jersey on the rise — It’s a seller’s market The New Jersey housing market, which has been depressed since the Great Recession, is showing signs of firing up. According to Rob Dekanski, a … Continue reading

Posted in Economics, New Jersey Real Estate | 47 Comments

Better than renting out?

From the NYT: Making a Living With Airbnb New Yorkers who welcome strangers into their homes by becoming Airbnb hosts have found that the experience can be at turns nerve-racking, humorous and sometimes embarrassing. But for some determined hosts, it … Continue reading

Posted in Demographics, Economics, NYC | 37 Comments