Monthly Archives: June 2017

March 2019? Yeah, right.

From the Record: American Dream Meadowlands finalizes $2.8B in construction financing; work resumes A complex $2.8 billion closing on construction financing for American Dream Meadowlands was completed on Thursday, locking in the funds developers say they need to finish the … Continue reading

Posted in New Development, New Jersey Real Estate | 90 Comments

Time for Newark

From the Commercial Observer: Five Reasons to Pay Attention to Newark Of all the commuter cities west of the Hudson River, Newark, N.J., gets the least respect from real estate professionals. Some of the reasons for this are understandable; Newark … Continue reading

Posted in Demographics, Economics, New Development, New Jersey Real Estate | 50 Comments

Say it ain’t so

From the Washington Post: The McMansion, ultimate symbol of the pre-recession boom, is back If there’s anything that typifies the boom times before the Great Recession, it is the McMansion. These sprawling houses proliferated around the country in the 2000s, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate, New Development | 67 Comments

May Otteau MarketNEWS

From Otteau Group: NJ Purchase Contracts Bounce Back in May After recording a 7% decline in April, home purchase contracts in New Jersey increased by 11% compared to the same month last year. Given the 9% increase during May of … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 41 Comments

King of the hill, top of the heap.

From the Star Ledger: Recent college grads are leaving N.J. in record numbers. Here’s why. The bed is on an elevated bunk. Below the bed is a desk, dressed with items from college: clothes, books and accessories. The floor is … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 52 Comments

Do so at your own peril

From the Record: Millennial generation shunning the suburbs for city life They want the bustle. They want the convenience. They want the diversity. In short, they want the city and not the suburbs – even after their children start school. … Continue reading

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

May EHS exceeds expectations

From CNBC: Existing home sales hit 5.62 million units in May, vs. expectations of 5.57 million U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 75 Comments

Gentrification of the shore almost complete?

From the NYT: Memories of a Jersey Shore Town, Before a Boom On a hot August afternoon in the late 1990s, I waited at Donnelly’s Deli in Avalon, N.J., for our family’s sandwich order. This was a rare treat. We … Continue reading

Posted in Demographics, Economics, Shore Real Estate | 176 Comments

What Jersey Thinks

From the Star Ledger: Christie says N.J. economy is better. Here’s what voters think. Gov. Chris Christie has declared in recent months that New Jersey’s economy has vastly improved — but a new poll shows most voters aren’t feeling good … Continue reading

Posted in Economics, New Jersey Real Estate | 84 Comments

No New Homes

From HousingWire: Economists: Housing inventory could soon turn into an emergency The latest report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau showed housing starts sank to an eight-month low. Now, economists are saying … Continue reading

Posted in Economics, National Real Estate, New Development | 25 Comments

Poof go the jobs?

From the Star Ledger: New Jersey lost 13,000 jobs in May New Jersey lost employers cut 14,000 private-sector jobs in May as the unemployment rate held steady at 4.1 percent. The state Department of Labor and Workforce Development reported a … Continue reading

Posted in Employment, New Jersey Real Estate | 61 Comments

It’s a good time to sell, but don’t.

From HousingWire: Capital Economics: A seller’s market won’t cure inventory shortages It’s finally a seller’s market, but according to a new Capital Economics report, the increased selling sentiment doesn’t guarantee a boost in much-needed housing inventory. Fannie Mae’s most recent … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 49 Comments

Delinquencies improve, even in NJ

From National Mortgage Professional: Mortgage Delinquencies Dropped to 10-Year Low CoreLogic’s Loan Performance Insights Report shows that in March, nationally, 4.4 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure), … Continue reading

Posted in Economics, Foreclosures, National Real Estate | 54 Comments

Still #1

From HousingWire: Foreclosure filings see slight uptick in May The number of foreclosure filings increased slightly in May, but they are still down significantly from the year before, according to ATTOM Data Solutions. Foreclosure filings in May increased to a … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 9 Comments

DINKS with style – what do you expect?

From MarketWatch: Why house prices in gay neighborhoods are soaring American homeowners can take pride in these prices. At the nadir of the housing market in 2012, homebuyers had to pay an average premium of almost 29%, or $209 per … Continue reading

Posted in Demographics, Economics, National Real Estate | 31 Comments