Category Archives: New Jersey Real Estate

That time when Vernon was cool, until it wasn’t.

Posted on September 3, 2017 by grim

From the Record: Remembering Hugh Hefner’s Great Gorge Playboy Club There was much excitement for miles around the North Jersey area when Hugh Hefner built and officially opened The Great Gorge Playboy Club in Vernon in 1972. Some were excited … Continue reading →

Posted in New Jersey Real Estate, North Jersey Real Estate | 9 Comments

Hide the Zombies?

Posted on July 11, 2017 by grim

From the South Jersey Times: Don’t give N.J. zombie homes the upper hand Owing to its ongoing high rate of residential foreclosures, New Jersey has become known the Land of the Zombie Houses. If a just-filed lawsuit succeeds, the zombie … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, South Jersey Real Estate | 80 Comments

So far away

Posted on October 22, 2016 by grim

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

March Beige Book

Posted on March 6, 2013 by grim

From the Federal Reserve: Beige Book – March 6, 2013 – Second District–New York Economic activity in the Second District has continued to expand at a moderate pace since the last report. Business contacts report some pickup in input price … Continue reading →

Posted in Economics, Housing Recovery, New Jersey Real Estate | 169 Comments

Paying the Sandy Tax

Posted on November 14, 2012 by grim

From Bloomberg: Christie Says Damage Costs From Sandy Outside Tax Cap New Jersey Governor Chris Christie said property owners in areas devastated by Superstorm Sandy may face higher tax bills, as local governments exceed his 2 percent cap on annual … Continue reading →

Posted in Economics, New Jersey Real Estate, Property Taxes | 172 Comments

Agents and Sellers “adjusted to the new pricing realities”?

Posted on December 19, 2011 by grim

From the Record: Bergen, Passaic home prices continue to slide North Jersey home values dropped 3 percent in the first half of this year, bringing Bergen County’s median single-family home price below $400,000 for the first time since the housing … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate, Price Reduced | 105 Comments

CoreLogic – Northern NJ/NY Metro home prices up 2.6% YOY in October

Posted on December 7, 2011 by grim

From CoreLogic (no link): Home Prices Down 3.9 Percent Year-Over-Year Home prices in the U.S. decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. According to the CoreLogic HPI, national home prices, including distressed sales, also declined … Continue reading →

Posted in Housing Recovery, New Jersey Real Estate | 87 Comments

Careful with that claim, you might just get screwed twice

Posted on November 1, 2011 by grim

From the Record: Storms may push homeowners’ insurance rates higher Homeowners’ insurance rates may go up as insurers seek to offset losses expected from the unusual pre-Halloween snowstorm that socked the region on Saturday, and from Hurricane Irene and other … Continue reading →

Posted in Economics, New Jersey Real Estate | 97 Comments

New Jersey Contract Sales Continue Decline

Posted on November 23, 2010 by grim

From the Otteau Valuation Group: MarketNEWS – November 2010 The New Jersey housing market continued to experience weak purchase demand in October due to the lingering effects of the economic recession. In October, home purchase contracts in New Jersey for … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 162 Comments

Fed: Home prices “drifting down in northern New Jersey”

Posted on October 22, 2010 by grim

From the Federal Reserve: Beige Book – Second District–New York Construction and Real Estate Housing markets have been mixed but generally stable since the last report. Real estate contacts in both northern New Jersey and western New York State report … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 114 Comments

Otteau: Slow recovery for housing, no recovery for high-end

Posted on January 12, 2010 by grim

From the Record: N.J. real estate prices headed up New Jersey home prices have bottomed out and will rise about 2 percent this year, real estate appraiser Jeffrey Otteau predicted Monday. “While things will get better from here, they’re going … Continue reading →

Posted in Economics, New Jersey Real Estate | 224 Comments

Labor Day Weekend Open Discussion

Posted on September 4, 2009 by grim

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

Posted in General, New Jersey Real Estate | 299 Comments

$8 $10 Billion in the Hole

Posted on July 22, 2009 by grim

From the Courier Post: N.J. faces $10B deficit next year, report says New Jersey faces a projected budget deficit of $8 billion in its next fiscal year, as well as a shortfall of more than $2 billion in its unemployment … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 216 Comments

“You just can’t afford to stay in this house”

Posted on August 24, 2008 by grim

From the Record: In North Jersey foreclosures are up, home sales down In a painful sign of the worsening real estate downturn, foreclosure actions in North Jersey nearly tripled in the first five months of 2008 over the same period … Continue reading →

Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 29 Comments

“The market value is what the market value is”

Posted on April 14, 2008 by grim

From the Record: How low will homes go? The number of home sales in North Jersey plummeted some 30 percent in 2007, raising the odds of a significant decline in home values beginning this year. Prices inched down only slightly … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 305 Comments