Category Archives: New Jersey Real Estate

“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

Florham Park Comp Killer

Posted on March 25, 2008 by grim
Posted in New Jersey Real Estate, Price Reduced | 108 Comments

22 Midwood Drive, Florham Park NJ Purchase Price: $800,000 Purchased: 7/21/2006 Current Asking Price: $599,000 (Short Sale – Lis Pendens Filed) 25% under 2006 purchase price History MLS# 2339326 Listed: 11/8/2006 Original List Price: $799,500 Reduced: $775,000 Days on Market: … Continue reading →

Chester Comp Killers

Posted on March 24, 2008 by grim
Posted in New Jersey Real Estate, Price Reduced | 42 Comments

2 Green Hill Road, Chester NJ Purchase Price: $1,129,000 Purchased: 5/11/2006 Current Asking Price: $950,000 (Short Sale) 16% under 2006 purchase price History MLS# 2447201 Listed: 9/4/2007 Original List Price: $1,199,000 Reduced: $950,000 Days on Market: 182 Active

Philly Fed: Not so different here

Posted on March 24, 2008 by grim
Posted in New Development, New Jersey Real Estate, Risky Lending | Comments Off

From Reuters: Mid-Atlantic banks face more loan losses-report Big Mid-Atlantic banks face more losses from the real estate slump, according to a report on Monday from a regional Federal Reserve that suggests the worst has not passed for the beleaguered … Continue reading →

Cliffside Park Comp Killer

Posted on March 22, 2008 by grim
Posted in New Jersey Real Estate | 26 Comments

Purchase Price: $900,000 Purchased: 1/27/2006 Current Asking Price: $760,000 (Pre Foreclosure/Short Sale) 16% under 2006 purchase price Highridge Ave, Cliffside Park NJ History MLS# 2638819 Listed: 10/2/2006 Original List Price: $999,000 Days on Market: 22 Withdrawn MLS#: 2646367 Relisted: 12/13/2006 … Continue reading →

Randolph Comp Killer

Posted on March 22, 2008 by grim
Posted in New Jersey Real Estate | 11 Comments

MLS# 2491585 – Orchard Drive, Randolph NJ Purchase Price: $700,000 Purchased: 6/23/2003 Current Asking Price: $469,000 (REO) 33% under 2003 purchase price

Mount Olive Comp Killer

Posted on March 20, 2008 by grim
Posted in New Jersey Real Estate, Price Reduced | 81 Comments

Purchase Price: $590,000 Purchased: 5/16/2005 Current Asking Price: $499,000 (Short Sale) 15% under 2005 purchase price Dorsett Drive, Mount Olive NJ History MLS# 2255782 Listed: 3/8/2006 Original List Price: $689,900 Reduced to: $634,899 Days on Market: 156 Withdrawn MLS#: 2309154 … Continue reading →

10,300 NJ Jobs lost in 2008

Posted on March 19, 2008 by grim
Posted in Economics, New Jersey Real Estate | 36 Comments

From the AP: N.J. unemployment rate jumps in February New Jersey’s unemployment rate jumps for the second straight month. The rate hit 4.8 percent in February, up from 4.5 percent in January. The state Labor and Workforce Development Department says … Continue reading →

Public enemy number one

Posted on March 19, 2008 by grim
Posted in New Jersey Real Estate, Property Taxes | 285 Comments

From the AP: Leading mayor says property taxes ‘public policy enemy No. 1′ A leading New Jersey mayor calls New Jersey’s highest-in-the-nation property taxes “public policy enemy number one.” In doing so, he beseeches New Jersey lawmakers to reject Gov. … Continue reading →

“But it looks like hell right now.”

Posted on March 19, 2008 by grim
Posted in New Development, New Jersey Real Estate | 5 Comments

From the Record: Xanadu in ugly predicament The architects of Xanadu’s controversial exterior have been summoned to meet with Meadowlands Sports Complex officials next week to explain how the shopping and entertainment center will evolve into “an acceptable finished product.” … Continue reading →

Fort Monmouth redevelopment

Posted on March 19, 2008 by grim
Posted in New Development, New Jersey Real Estate | 1 Comment

From Forbes: NJ redevelopment plan to be shown Sprawled across 1,100 acres, Fort Monmouth occupies a good chunk of New Jersey, but its high-tech mission constitutes an even larger contribution to the state’s economy. But with the Army base scheduled … Continue reading →