Category Archives: New Jersey Real Estate

Otteau February Newsletter

Posted on March 17, 2008 by grim
Posted in New Jersey Real Estate | 62 Comments

From the Otteau Valuation Group: WEAK SALES PACE CONTINUES IN FEBRUARY February home sales turned in another weak performance erasing hopes of a housing market recovery any time soon. Following a disappointing January when contract-sales were off by 30%, February … Continue reading →

Lowball!

Posted on March 16, 2008 by grim
Posted in Housing Bubble, New Jersey Real Estate | 263 Comments

From the NY Times: Lowball Offers on the Rise By LISA PREVOST Published: March 16, 2008 WHAT image does the term “lowballer” conjure up for you? A smirking bottom feeder in a bad suit? A fast-talking investor working the phone? … Continue reading →

“This is not the time to raise spending. We need to have cuts.”

Posted on March 13, 2008 by grim
Posted in Economics, New Jersey Real Estate | 64 Comments

From Bloomberg: Corzine Says Revenue Drop May Force Steeper Cuts New Jersey Governor Jon Corzine said growing home foreclosures and unemployment are cutting into state tax revenue and he may have to make deeper spending cuts than the $2.7 billion … Continue reading →

Any good news?

Posted on March 6, 2008 by grim
Posted in Economics, New Jersey Real Estate | 187 Comments

From the Philly Inquirer: New Fed snapshot shows a weakening economy The U.S. economy has weakened since the start of this year as shoppers turned more cautious given the severe housing slump and painful credit crunch, according to a government … Continue reading →

Honky Tonk Badonkadonk

Posted on March 6, 2008 by grim
Posted in New Development, New Jersey Real Estate | 22 Comments

From Bloomberg: Corzine Spoils Manhattan View for New Jersey With Ferris Wheel Don’t expect residents of Bergen County, New Jersey, to be first in line for a ride on the Ferris wheel going up in their backyards, the tallest in … Continue reading →

“And the problem is getting worse.”

Posted on March 5, 2008 by grim
Posted in Economics, New Jersey Real Estate | 4 Comments

From the Record: Commercial developers offer grim outlook New Jersey’s commercial real estate community believes the state is an unfriendly place for business, to the point that companies are going to Pennsylvania rather than pay the proposed toll-road increases and … Continue reading →

NJ paid family leave bill passes Senate

Posted on March 4, 2008 by grim
Posted in Economics, New Jersey Real Estate, Politics | 110 Comments

From the Asbury Park Press: Family leave narrowly passes Senate The full Senate narrowly approved a proposal that would give workers a paid family leave program to care for a newborn, a newly adopted child or an ill family member, … Continue reading →

Northern NJ February Residential Sales

Posted on March 3, 2008 by grim
Posted in Economics, New Jersey Real Estate | 433 Comments

Preliminary February sales and inventory data for Northern New Jersey is in. Please note that this data is subject to revision. Due to the low volume of sales in February, the lower bound of all graphs had to be adjusted … Continue reading →

New Jersey according to Wells Fargo

Posted on February 28, 2008 by grim
Posted in New Jersey Real Estate, Risky Lending | 26 Comments

From Wells Fargo: At Risk Markets Policy, List, and Message Changes At Risk Markets Policy Changes The following changes to the At Risk Markets policy will be effective for loans registered on or after Feb. 29, 2008: • Non-conforming − … Continue reading →

NJ 2007 job growth revised sharply downward

Posted on February 28, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 378 Comments

From the Times Trenton: Revised job figures reveal picture isn’t so pretty in Jersey New Jersey’s economy isn’t as healthy as state economic officials thought as recently as a few weeks ago. Last month, 9,500 jobs were lost, and revised … Continue reading →

A “challenged housing market that has yet to bottom out”

Posted on February 25, 2008 by grim
Posted in Housing Bubble, New Jersey Real Estate | 53 Comments

From the Otteau Group: HOME SALES POST WEAK JANUARY The pace of New Jersey home sales sank to a 4 year low in January raising serious questions about what’s ahead for the Spring housing market. Adding to the uncertainty are … Continue reading →

Eliminating the property tax “rebate”

Posted on February 19, 2008 by grim
Posted in New Jersey Real Estate, Property Taxes | 6 Comments

From Newsday: Democratic lawmakers: End most property tax rebates Three Democratic lawmakers on Monday proposed axing property tax rebates for most homeowners to help control state spending and avoid Gov. Jon S. Corzine’s proposed toll increases. Sen. Jeff Van Drew … Continue reading →

Always a great time to buy or sell!

Posted on February 19, 2008 by grim
Posted in Humor, New Jersey Real Estate | 4 Comments

From the New Jersey Association of Realtors: Realtors say New Jersey home sales are healthy Sales volume of existing single family homes, condominiums and co-ops in the fourth quarter of 2007 are stable. According to statistics released by the National … Continue reading →

No, really, which way is up?

Posted on February 15, 2008 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 9 Comments

From the Trenton Times: Housing’s mixed bag No doubt, the New Jersey housing market has seen better days. But while home prices across the country continued to plunge during the last three months of 2007, New Jersey has shown surprising … Continue reading →

“No one wants to make the first move”

Posted on February 14, 2008 by grim
Posted in New Development, New Jersey Real Estate | 2 Comments

From the Asbury Park Press: Main St. makeover shifts to low gear BELMAR — A $500 million plan to raze and rebuild much of the downtown will take longer than the 10 years to complete that borough officials had previously … Continue reading →