Category Archives: New Development

White Elephant Returns to Jersey

Posted on November 14, 2011 by grim
Posted in Economics, New Development, New Jersey Real Estate | 167 Comments

From the Star Ledger: McMansions swell the real eastate market as homebuyers think small Ten years ago, when their grandchildren were young and visiting often, Frank and Rosemary Santoloci bought a brand new five-bedroom, four-bathroom home on four acres in … Continue reading →

Recovery being led by gold coast condos?

Posted on November 4, 2011 by grim
Posted in Housing Recovery, New Development, New Jersey Real Estate | 202 Comments

From the NY Times: A Bright Spot in the Condo Market EVEN here — in a city that has been one of New Jersey’s most fertile breeding grounds for condominiums — construction has been virtually at a standstill since construction … Continue reading →

Average NJ Foreclosure – 708 days late

Posted on October 4, 2011 by grim
Posted in Foreclosures, New Development, New Jersey Real Estate | 151 Comments

From Bloomberg: U.S. Homes in Foreclosure Average 611 Days Late on Payments U.S. homeowners facing foreclosure were a record 611 days late paying their mortgages on average as legal disputes delayed bank repossessions, Lender Processing Services Inc. said today. That … Continue reading →

“Agriculture is the new golf”

Posted on September 18, 2011 by grim
Posted in National Real Estate, New Development | 18 Comments

From the WSJ: An Apple Tree Grows in Suburbia Used to be, developers built high-end suburban communities around golf greens. The hot amenity now? Salad greens. In a movement propelled by environmental concern, nostalgia for a simpler life and a … Continue reading →

Flash! Hard to afford a big house on a big lot in Jersey

Posted on July 7, 2011 by grim
Posted in Economics, New Development, New Jersey Real Estate | 147 Comments

Affordability is a little bit of a sticky topic. Realize that a house doesn’t need to be affordable by the median income to be saleable, it just needs to be affordable for it’s single buyer. But this leads to a … Continue reading →

Pessimistic outlook for new home sales in April

Posted on May 24, 2011 by grim
Posted in Employment, National Real Estate, New Development | 159 Comments

From Bloomberg: Purchases of New Homes in U.S. Probably Held Near Record Low Purchases of new houses probably held close to a record low in April, showing the real-estate market remains a weak link in the U.S. expansion, economists said … Continue reading →

Just where the hell is this market going?

Posted on April 25, 2011 by grim
Posted in Housing Bubble, National Real Estate, New Development | 108 Comments

From the WSJ: New Home Sales Up From Record Low Sales of new homes increased in March from a record low a month earlier, a small boost for a struggling part of the U.S. economy. Sales grew 11.1% on a … Continue reading →

New home sales post record low (if you trust the numbers, or if it even matters)

Posted on March 24, 2011 by grim
Posted in Economics, National Real Estate, New Development | 223 Comments

From Bloomberg: U.S. New-Home Sales Unexpectedly Decline to Record-Low 250,000 Annual Pace Purchases of new U.S. homes unexpectedly declined in February to the slowest pace on record and prices dropped to the lowest level since December 2003, adding to evidence … Continue reading →

Tear it all down, start all over

Posted on March 18, 2011 by grim
Posted in Economics, New Development, New Jersey Real Estate | 262 Comments

From Bloomberg: Christie’s Atlantic City Revival Seeks Halt to 30% Casino Plunge New Jersey Governor Chris Christie is bucking voter skepticism and pushing ahead with his plan to revive the Atlantic City gambling resort, where casino revenue has plunged the … Continue reading →

Signs of life in the condo market?

Posted on March 12, 2011 by grim
Posted in Economics, New Development, New Jersey Real Estate | 157 Comments

From the NY Times: A Thaw in the Condo Market LAST month a few strong blips indicated a quickening pulse on the New Jersey condominium market. Or maybe just a pulse. There were 15 sales in four weeks at one … Continue reading →

Builder screws buyer, buyer gets $7m in court

Posted on January 16, 2011 by grim
Posted in New Development, New Jersey Real Estate | 54 Comments

From the Daily Record: Developer, agent ordered to pay $7 million for Florham Park, NJ, house sliding down hill Finding that a developer and his construction agent violated state consumer fraud laws, a judge Friday ordered the pair to pay … Continue reading →

Redefining Luxury

Posted on November 4, 2010 by grim
Posted in New Development, New Jersey Real Estate | 189 Comments

From the Montclair Times: Condo owners allege Siena has structural ‘defects’ Raniya Kassem owns a condominium on the fifth floor of Montclair’s luxury high-rise complex The Siena, but it’s been about a year and five months since she has resided … Continue reading →

Housing outlook “deteriorating”

Posted on October 19, 2010 by grim
Posted in National Real Estate, New Development | 146 Comments

From Bloomberg: Builders Probably Began Work on Fewer U.S. Houses in Sign Recovery Delayed Builders in the U.S. probably began work on fewer homes in September, a sign the residential real estate market will be slow to recover from the … Continue reading →

Bye Bye McMansions! (Good Riddance)

Posted on October 7, 2010 by grim
Posted in Economics, New Development, New Jersey Real Estate | 226 Comments

From the NY Times: Builders Move Beyond McMansions in New Jersey Faced with the prospect that New Jersey’s buildable open space could be gone by midcentury, developers are turning to projects that tap into existing infrastructure, use vacant buildings and … Continue reading →

Development hits new lows in Morris

Posted on August 8, 2010 by grim
Posted in Economics, Housing Bubble, New Development, New Jersey Real Estate | 46 Comments

From the Daily Record: Morris County NJ development dips to historic lows The new towers in Morristown are up, awaiting restaurants and residents. The New York Jets are ensconced in their shiny new headquarters in Florham Park awaiting the arrival … Continue reading →