Category Archives: New Jersey Real Estate

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

Posted on January 12, 2010 by grim
Posted in Economics, New Jersey Real Estate | 224 Comments

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 →

Labor Day Weekend Open Discussion

Posted on September 4, 2009 by grim
Posted in General, New Jersey Real Estate | 299 Comments

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 →

$8 $10 Billion in the Hole

Posted on July 22, 2009 by grim
Posted in New Jersey Real Estate, Property Taxes | 216 Comments

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 →

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

Posted on August 24, 2008 by grim
Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 29 Comments

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 →

“The market value is what the market value is”

Posted on April 14, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 305 Comments

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 →

Monmouth/Ocean: Home of the Housing ATM

Posted on April 13, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 116 Comments

From the Asbury Park Press: Borrowers used houses to get cash Proponents had once touted subprime loans as a way for some consumers to afford the American dream of homeownership. Yet new government data now show a nightmare scenario that … Continue reading →

Covered with gloom

Posted on April 7, 2008 by grim
Posted in Economics, New Jersey Real Estate | 276 Comments

From the Associated Press: Poll finds New Jerseyans feeling gloomy on economy Economic woes have New Jerseyans gloomy, a new poll has found. Forty-nine percent of respondents in the poll issued Monday by Fairleigh Dickinson University’s Silberman College of Business … Continue reading →

“In this business, a deal is not done till it’s done.”

Posted on April 7, 2008 by grim
Posted in New Jersey Real Estate | Comments Off

From the Record: More deals falling through Deal — or no deal? Does a signed contract mean the property will actually sell? In a volatile housing market, the answer these days is “not necessarily.” “You start earning your commission the … Continue reading →

Northern NJ March Residential Sales

Posted on April 3, 2008 by grim
Posted in Economics, New Jersey Real Estate | 392 Comments

Preliminary March sales and inventory data for Northern New Jersey is in. Please note that this data is subject to revision. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound … Continue reading →

Reform or sleight of hand?

Posted on April 2, 2008 by grim
Posted in Economics, New Jersey Real Estate, Politics | 3 Comments

From the APP: Corzine wants $260M to replenish jobless trust fund Gov. Corzine said Tuesday he wants to move $260 million from the current state budget to shore up the unemployment trust fund and avoid a trigger that would mean … Continue reading →

“The numbers for us continue to rise”

Posted on March 31, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 267 Comments

From the Trenton Times: Singing the mortgage blues Otis Boone describes his housing problem as “a funny situation,” but stories like his have become common in Mercer County and around the country. In August 2005 he and his wife moved … Continue reading →

Morris County not immune to slump

Posted on March 30, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 6 Comments

From the Daily Record: Morris hasn’t escaped crunch of foreclosures The Morris County Sheriff’s Office reports that the number of houses put up for auction within the first two months of this year was 40 percent higher over the same … Continue reading →

Spring 2008 Trends – Short Sales

Posted on March 27, 2008 by grim
Posted in New Jersey Real Estate | 39 Comments

Source: A Realtor (R) Association Newsletter Need I say more?

Have mercy on us

Posted on March 26, 2008 by grim
Posted in New Jersey Real Estate, Property Taxes | 306 Comments

From the Associated Press: NJ lawmakers call for cities, towns to impose their own taxes Assembly lawmakers on Tuesday said the state should weigh allowing cities and towns to impose their own taxes as more woes were predicted for New … Continue reading →

Livingston Comp Killer

Posted on March 26, 2008 by grim
Posted in Comp Killer, New Jersey Real Estate, Price Reduced | 10 Comments

14 Fernwood Road, Livingston NJ Purchase Price: $995,000 Purchased: 1/22/2007 Current Asking Price: $799,000 (Short Sale) 20% under 2007 purchase price History MLS# 2430585 Listed: 7/30/2007 Original List Price: $995,000 Reduced: $799,000 Days on Market: 240 Active