From HousingWire:
Trulia reveals best home-searching season
Online real estate marketplace Trulia revealed its latest survey findings Wednesday, showing the seasonal patterns of home search activity based on its search traffic.
The research, which was based on all home searches on Trulia from 2007 to 2012, was used to determine whether a state’s search activity in each month is above or below the annual average for that state.
The study revealed that post-holiday motivation pushed many potential homebuyers and renters back into full-on search mode at the beginning of the year. Nationally, online real estate search activity surged in January and usually reaches its peak around March or April.
Typically May sees a slight dip, but is directly followed by a second yearly peak during the summer months. Home searches usually dip the lowest in December.
“Home-search activity swings with the seasons in every state. Buyers and sellers can use these ups and downs to their advantage,” said Jed Kolko, chief economist of Trulia. “Sellers looking for the most buyers should list when real estate search traffic peaks. Buyers, however, should think about searching off-season, when there is less competition from other searchers.”
While most online home searches at the state level correspond with typical seasonal patterns, local markets are completely different depending on the market.
What’s the right word here… Dirty? Scumbag? Hypocrite? Crook? Rapist?
http://www.nj.com/politics/index.ssf/2013/01/menendez_doctor_prostitution_f.html#incart_m-rpt-1
Paying for the flights 2 years later, after the ethics investigation was called, isn’t “paying”, it’s trying to buy your way out of the problem.
I suppose he will claim it isn’t statutory rape, because it took place in DR and not the US?
Good Morning New Jersey
From Bloomberg:
Soon You Can Flee Your Underwater Home. But It Will Cost You
For some homeowners, March 1 will be Liberation Day. That’s when Fannie Mae and Freddie Mac will start allowing some homeowners who have been stuck in their homes—unable to move because they owe more than the property is worth—to relinquish the houses and cancel their debt.
The new rules (PDF) for deed-in-lieu transactions apply to people who are current or less than 90 days late on their mortgage payments. To the extent that the change makes it easier for people to move—to take a new job, shift locations following the death of a spouse or caregiver, or if they become ill and can no longer afford the house payment—it should help the economic recovery. The change also will benefit military personnel who are relocated.
To be eligible to turn over the house keys, homeowners must be making payments of at least 55 percent of their monthly income for the house and must be able to document a “hardship” that requires a move, such as a spouse’s death. The home must be clean and not damaged. Homeowners may also have to surrender as much as 20 percent of personal assets, excluding retirement accounts, to partially meet the loan’s unpaid balance, depending on the borrower’s financial situation. The program does not affect second mortgages. Mortgage servicers can offer up to $6,000 for second-lien holders to release borrowers from the loans, but there’s no requirement that the holders agree. This could limit participation.
The new rules are not a free pass for people who can land a better job and want to escape an underwater mortgage, said Barry Zigas, director of housing policy at the Consumer Federation of America in Washington. “Borrowers who have any kind of equity in their home and are able to pay the mortgage … never come out ahead by just walking away from the home,” he said. “A deed-in lieu is a much better credit event than a foreclosure, but it’s not a great conclusion to the story. But some people, they have no choice.”
Thus, the new rules for mortgage services are hardly a giveaway for debtors who can afford to pay. There is no estimate as to how many borrowers will be eligible to apply for a deed-in-lieu release, although the number is expected to be small, Freddie Mac spokesman Brad German said Monday. Short sales—in which lenders allow the sale of a home for less than they are owed—have been far more popular among distressed borrowers than deed-in-lieu transactions, noted Julia Gordon, director of housing finance at the Center for American Progress, a nonpartisan research institute. In the first three quarters of 2012, the Federal Housing Finance Agency approved more than 108,000 short sales, compared with 13,000 deeds-in-lieu.
Appoint Solomon Dwek to Menendez’ seat.
[4] Ernest,
Would never fly. Not sleazy enough, and a rat to boot.
Some interesting reading on home improvement/remodeling from the (biased) Harvard Joint Center:
Ready for Renewal
On the books remodeling is a tough business. In really good times, new construction, or insurance claims and high end homes they do well.
But sadly the majority of POS capes and splits which make up inventory could never afford to hire a “real contractor”
Also pretty much the only white people who become contractors today are people with personality disorders, limited education or cant work well with people.
The asians and spanish I dealt with who are off the books were much nicer people, higher IQ etc. They came to America and this is what they need to do their kids are going to college to be doctors etc.
The Irish/Italian guys usually partied hard in HS, volunteer firemen, failed out of community college and started own construction business. Some are very good. But if you are third generation american a white healthy male and you are tape and spackling my POS den something went very wrong.
Not suprising the business aspect, marketing, insurance, certifications, etc usually kills them in a down economy,
One guy told me his business plan is he charges twice as much as rest do he can take twice as many days off and get paid the same and avoids the nasty hard to do jobs.
Honestly these guys need maybe a two year degree in how to run a business. Opening up a business just cause you were good at shop in HS is not enough
grim says:
January 31, 2013 at 7:23 am
Some interesting reading on home improvement/remodeling from the (biased) Harvard Joint Center:
Ready for Renewal
http://www.nj.com/bergen/index.ssf/2013/01/palisades_park_man_admits_role_in_identity_theft_scheme.html#incart_river_default
How many fake Drivers License in NJ?
I take credit for beating the drum for Kryllos…..
grim says:
January 31, 2013 at 5:32 am
What’s the right word here… Dirty? Scumbag? Hypocrite? Crook? Rapist?
I got a new blackberry 10 yesterday grim from one of the analysts. He was at the BB10 event in manhattan. I only have it hooked up to the wireless right now but I’ll let you know my unbiased :P thoughts about it.
You will hire the 2nd 3rd generation but will keep the educated first generation better productive to society ,so you can use them. Nice
Dont worry,there will always be next generation educated illegals that are willing to come as long as the Dollar is stronger than their currency, and salary when converted is more than they will get as a Pro in their Country
JJ says,
The asians and spanish I dealt with who are off the books were much nicer people, higher IQ etc. They came to America and this is what they need to do their kids are going to college to be doctors etc.
Come on Chi. Everyone always knew Menendez was a scumbag as are all of the Hudson/Bergen County machine politicians. You know, Montclair hired the bastard who endorsed the former Hoboken crook mayor to be their town lawyer. Where are the Democrat cheerleaders when their guys are caught red handed? And Menedez will most certainly be reelected.
Chi…
Arr Elle says:
April 13, 2008 at 9:35 pm
To #98 Confused in NJ
I received the same Newsletter. We have a crises right here in New Jersey. Unemployment rate is about 4.8%, high property taxes, etc. I don’t recall Senator Menendez asking the tax payer’s permission,if it’s okay to send money to Poland to build a museum???
Just wondering
stu says:
April 13, 2008 at 9:57 pm
Isn’t buying the Jewish vote a good use of your tax dollars?
Disclaimer: I am a Hebe and think Menendez should be hung.
Oh Bob who doesn’t. Seriously if they held the election today with this news posted all over does anyone doubt the slimeball wouldn’t get re-elected. Media blinders to dems or not this Jersey after all.
http://dailycaller.com/2013/01/31/dominican-prostitute-senator-bob-menendez-likes-the-youngest-and-newest-girls/
Actually long term I am slitting my throat. The asian/spanish guys I hire to do work around the house use my money to send their kids to college. Their kids I hire at work to do my bidding learn from the master, in turn their children (3rd generation who are educated, americanized and have business skills are the future Managing Directors).
My uncle once said to his son. I came to America and became a cop as was only good job I could get with a HS degree, I work and send you to school and now you want to be a cop too, that is a disgrace. Out in SI you see 3rd generation garbage men, cops and firemen. My uncle used to always say third generation Asian is Chief of Cardiology at Mt Sinai. Third Generation Staten Island Italian is still a garbage man
yome says:
January 31, 2013 at 9:37 am
You will hire the 2nd 3rd generation but will keep the educated first generation better productive to society ,so you can use them. Nice
Dont worry,there will always be next generation educated illegals that are willing to come as long as the Dollar is stronger than their currency, and salary when converted is more than they will get as a Pro in their Country
JJ says,
The asians and spanish I dealt with who are off the books were much nicer people, higher IQ etc. They came to America and this is what they need to do their kids are going to college to be doctors etc.
[7]JJ “But if you are third generation american a white healthy male and you are tape and spackling my POS den something went very wrong.”
In Germany, that would make you a craftsman, a respected title.
In the USA, that makes you a misfit loser doing the same work as illegal labor.
Sad thing is JJ is telling the truth as far as perception in the USA.
No payment records found.
The Associated Press reported it found no records reporting payments to Melgen or trips aboard Melgen’s plane in six years worth of office and travel-related expenses for Menendez’s Senate office, or in six years worth of campaign expenses on file with the Federal Election Commission.
Care to revise your statement, Senator?
Word. White college educated americans are all just paper pushers.
But honestly, I dont want to do the physical labor full time. I actually enjoyed the four weeks I spent working six days a week on my house. It was exhausting, but fulfilling and interesting. But I was dirty, tired and always had cuts and scrapes. Really you cant do that job too long after 50. The guys I hired had a house flip and a new kitchen to go on to. Finished my three month project working six days a week and right to the next one. Hard work
Phoenix says:
January 31, 2013 at 10:03 am
[7]JJ “But if you are third generation american a white healthy male and you are tape and spackling my POS den something went very wrong.”
In Germany, that would make you a craftsman, a respected title.
In the USA, that makes you a misfit loser doing the same work as illegal labor.
Sad thing is JJ is telling the truth as far as perception in the USA.
On another note,it seems student loans keep getting kicked down the road. Wonder where that idea comes from.
http://www.collectionscreditrisk.com/news/more-than-half-of-student-loan-payments-delayed-3013095-1.html?ET=ccrisk:e15418:20982a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=CCR_Newsline_013113_013113
JJ that is possibly the smartest and most accurate thing you have ever said. Fact of the matter is we no longer value education and achievement in this country. entitlement and bullsh!t are sought after achiements by the drones of morons in this country.
grim: I have a couple in their late 30’s who are peppering me with questions about the spring selling season and getting set up with a mortgage etc……they are on the Scotch Plains/Westfield border and looking to buy a bigger place in the set of towns that are on the Gladstone branch of NJT. They don’t need the train, but hearing them talk, the towns are fitting their needs. I think they are looking in the $600k-$700K area…..do you think you can steer them the right way?
When do you keep this couple. My English teacher would have a field day with that sentence “I have a couple in their late 30′s” I can see him now giving me an F and asking do I have slaves, do I keep the couple in my basement.
chicagofinance says:
January 31, 2013 at 11:04 am
grim: I have a couple in their late 30′s who are peppering me with questions about the spring selling season and getting set up with a mortgage etc……they are on the Scotch Plains/Westfield border and looking to buy a bigger place in the set of towns that are on the Gladstone branch of NJT. They don’t need the train, but hearing them talk, the towns are fitting their needs. I think they are looking in the $600k-$700K area…..do you think you can steer them the right way?
Here is a house in Scotch Plains recent murder/suicide and smoke damage. I am sure Grim can get them a good deal.
Authorities: Mother killed son, herself by setting fire in Scotch Plains home
http://www.nj.com/union/index.ssf/2012/12/authorities_identify_mother_an.html
chicagofinance says:
January 31, 2013 at 11:04 am
grim: I have a couple in their late 30′s who are peppering me with questions about the spring selling season and getting set up with a mortgage etc……they are on the Scotch Plains/Westfield border and looking to buy a bigger place in the set of towns that are on the Gladstone branch of NJT. They don’t need the train, but hearing them talk, the towns are fitting their needs. I think they are looking in the $600k-$700K area…..do you think you can steer them the right way?
At the risk of opening up a new can of worms, this is a pretty funny map. . .
https://www.facebook.com/photo.php?fbid=397126113708769&set=a.123759571045426.32875.123753431046040
My experience was completely different. I never even saw the contractor that worked on my house. This guy started out doing the work himself then built up the business. Now he and his wife sit at a desk in their home offices and direct multiple jobs from there. He started it as a roofing business, branched into siding, gutters, etc., now does a full range of home improvements. He has a foreman on the job going from place to place checking on things and they subcontract a variety of people to do parts of the job his people were not qualified for (like the plumber, electrician, and insulation, etc.).
He was primarily running the business. He didn’t get his hands dirty that much. He was smart about branding his company too….he had special house wrap printed up that had his company name and phone number on it…making my house his personal billboard for a month until his guys sided it. There were signs everywhere, every guy had a t-shirt with the company phone number on it etc.
His price was fair, he finished without any additions to the budget, and his guys rushed to finish the job for me before hurricane Irene hit without any complaints.
7.JJ’s B.Se says:
January 31, 2013 at 8:56 am
On the books remodeling is a tough business. In really good times, new construction, or insurance claims and high end homes they do well.
But sadly the majority of POS capes and splits which make up inventory could never afford to hire a “real contractor”
Also pretty much the only white people who become contractors today are people with personality disorders, limited education or cant work well with people.
What is a fair price? What did you have done?
If he is paying himself and wife salaries, paying all the people, advertising, branding and has insurance and gets permits and he is able to charge a fair price.
He is either taking a small salary, getting people cheap or going broke.
I do the math on home flipping, rentals and math never works for on the books guys.
Brian says:
January 31, 2013 at 12:13 pm
Krugman thinks we should be more like Sweden.
http://www.bloomberg.com/video/forget-japan-why-can-t-the-u-s-be-like-sweden-5FG7rQHFQrWQvx_67FEtJQ.html
Someone forgot to tell him that Sweden has decided to be more like us.
http://www.economist.com/node/21564412
Not a short sale. Owner is taking a $1,575,000 loss on this house. Sandy was a bad girl
571 W Bay Dr
Long Beach, NY 11561
For Sale
$1,100,000
Priced For Immediate Sale Owner Paid $2,675,000 On 12/20/2005. Reynolds Channel Direct Bayfront 4,056 Square Feet 5/6 Bedroom 4 Full Baths On Double Lot Open Floor Plan Granite Marble Imported Tile In Ground Heated Pool 34X16 Double Veranda 2 Car Garage Seconds To Atlantic Ocean. Don’t Miss This Opportunity Of A Life Time To Purchase At This Below Market Price.
I dormered out the back of a POS cape and added a bathroom. People dormer POS capes all the time. Pretty standard job. It was pretty easy to get multiple bids from contractors who looked at the architect’s plans and compare them. Also talk with other homeowners (er borrowers) who have had similar work done and ask what they paid. There’s no shortage of dormered capes on the Northeast to compare work to.
26.JJ’s B.Se says:
January 31, 2013 at 12:44 pm
What is a fair price? What did you have done?
If he is paying himself and wife salaries, paying all the people, advertising, branding and has insurance and gets permits and he is able to charge a fair price.
He is either taking a small salary, getting people cheap or going broke.
I do the math on home flipping, rentals and math never works for on the books guys
27 – Wow Nom, that article on the Economist says they eliminated taxes on residential property in 2008. Sounds like heaven.
Brian, how did they insulate the roof of your cape? Seems there is not much room above in order to get good R values.
Like This:
http://www.deerparkroofing.com/images/ventilationcondition2.jpg
Originally, the top half of the house was not finished. One of the previous owners did it in the late 70’s early 80’s I’m guessing. Trouble with this approach is the lack of ventilation. However, since half of the back is now dormered, and the dormer is properly vented, I think this effectively removes some of the hot air in the summertime.
If you’re talking about the dormer it’s just you’re standard shed dormer, and that is airtight. All new stuff in there.
31.Phoenix says:
January 31, 2013 at 1:05 pm
Brian, how did they insulate the roof of your cape? Seems there is not much room above in order to get good R values.
brian dorming is tough you always have to go with a licensed contractor.
I was thinking of doing that to my split. Actually wife was I am against it. She wanted to put a fourth bedroom in. I keep telling her once town, architect, engineers, licensed contractors and permits are involved this is going to cost a fortune.
I think it is reason so many folks make attached garage extra bedroom illegally when they need an extra one for kid as later they rip it out and for like 10K you can make it a bedroom. I can no longer do that as my garage took on five feet of water. My neighbors who did it were not happy.
Why didn’t you just buy a new house.
Moving is not free either. It’s a PITA. Have to run around for months trying to find the house you want, kids have friends in the neighborhood pay movers etc.
I was in a situation where I was underwater on the loan and I could just keep throwing the money at the principal and hope to refinance someday (and have to pay closing costs again) or I could just put the money into the addition. I can afford the payment so no big deal might as well get something i can use for the money. Plus I am a lot less stressed out now that I have two places to poop. It’s much more luxurios than the 5 gallon bucket I had in the garage with the toilet seat on it. Damn kids take forever in the bathroom.
Why didn’t you just buy a new house.
brain (34)-
What happened to your outhouse?
“Plus I am a lot less stressed out now that I have two places to poop. It’s much more luxurios than the 5 gallon bucket I had in the garage with the toilet seat on it. Damn kids take forever in the bathroom.”
Anybody got a spare can or two of deer antler spray?
brain (34)-
This puts you in the top percentile of Sussex Co. adults. Congratulations.
“I am a lot less stressed out now that I have two places to poop.”
No money but I have extra doe in heat urine from hunting season you can have that.
I had to seal it up. That’s the spot I used to dispose of the body of the real estate agent that sold me the place.
35.Ernest Money says:
January 31, 2013 at 2:26 pm
brain (34)-
What happened to your outhouse?
Bathrooms are a pain. I just put one in downstairs in Den. What a pain. Was supposed to be 6K including everything. Turns out sewer line had awful pitch which is why old bathroom got flooded ever year so that and sump pump cost 4k, then wife moved two walls to make it bigger and put in better stuff for another 2k. My bathroom project got bigger. Oddly the best, biggest and nicest bathroom is now in my Den!!
Which of course makes my 1991 and 1969 bathrooms look bad so I have a feeling I may have to do this again.
How bad was inspectors and stuff? I had one busy body building inspector come to my house while it was full blow gutted and I was getting a sewer line put in and windows were open, guy asked me if I was having work done I said no. No flood damage. Guy then goes will you sign an affidavit, looked at him and he said just take form. Then guy goes can I come into my house. I said sure, when you have a warrant. As homeowner I am not granting you permission to enter my property. Guy looks at me with a bit of a smile, and goes guess I just log in my book I checked your house and everything is fine. I said please do and off he went.
Damm building inspectors are crooks. BTW Brian guy I bought house off, Dormed it, put a third bathroom in, an enclosed porch and two decks with no permits somewhere between 1970 and 1992, when I bought it in 2000 I had to get the permits. Prior guys did it to avoid RE taxes going up. Now here is kicker not only did they avoid taxes for 30 years when I bought I grieved my taxes and claimed my house is worth less due to additions done without permits I may be forced to rip out. I won a slight reduction and got my permits a few weeks later. Easier to win hunger games than win with town.
Brian says:
January 31, 2013 at 1:47 pm
Moving is not free either. It’s a PITA. Have to run around for months trying to find the house you want, kids have friends in the neighborhood pay movers etc.
I was in a situation where I was underwater on the loan and I could just keep throwing the money at the principal and hope to refinance someday (and have to pay closing costs again) or I could just put the money into the addition. I can afford the payment so no big deal might as well get something i can use for the money. Plus I am a lot less stressed out now that I have two places to poop. It’s much more luxurios than the 5 gallon bucket I had in the garage with the toilet seat on it. Damn kids take forever in the bathroom.
Why didn’t you just buy a new house.
101 uses for a JD.
http://www.thenewstribune.com/2013/01/30/2454776/green-thumb-wash-state-looks-for.html
[41]fabius
Pfffffttth!
[38] pain
Whenever you want to fill the freezer, I’ve got herds running about the Nompound. I see more deer around here than dogs, and everyone here has dogs. And there must have been a rut the other day because the deer were just everywhere. The only place I didn’t see a deer was in whole foods.
[30] Brian,
What they take from one place they make up elsewhere. Seems the swedes decided that lowering taxes and incenting work results in more activity and more revenues from income tax. But I doubt the swedes would admit that Laffer was right.
JJ next time choose a contractor is related to the Town inspector work for me
My brother suggested I might like this web site. He was entirely right. This put up truly made my day. You cann’t imagine simply how much time I had spent for this info! Thanks!
Thanks nom but that would require me to cross state lines when I can just go in my backyard.
I did that once. To get the COs when I bought house but it made me mad to do kickbacks and I ended up making a fuss anyhow even though it was escrow money
Brian says:
January 31, 2013 at 4:29 pm
JJ next time choose a contractor is related to the Town inspector work for me
http://www.ssa.gov/oact/tr/2012/III_A_cyoper.html
No analyst talks about the 106 billion interest paid into the system. They just talk about it took in less than it paid out. With the interest SS still have a surplas
http://www.nytimes.com/2013/01/06/opinion/sunday/social-security-its-worse-than-you-think.html?_r=0
Fab [41];
marijuana cultivation expert Ed Rosenthal, right
Christ, would it kill the guy to lose the hoodie and put on Khakis and a polo shirt to appear before the state licensing board? I’d be happy to dispel my mental stereotypes of burnt out stoner hippies if just one of them would break the damn mold.
From 49
In 2011, th OASI Trust Fund e49arned $106.5 billion in net interest, which consisted of: (1) interest earned on the investments of the trust fund; (2) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program; (3) interest arising from the revised allocation of administrative expenses among the trust funds; and (4) interest on certain reimbursements to the trust fund.OASI Trust Fund earned $106.5 billion in net interest, which consisted of: (1) interest earned on the investments of the trust fund; (2) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program; (3) interest arising from the revised allocation of administrative expenses among the trust funds; and (4) interest on certain reimbursements to the trust fund.
Didn’t I call this?
http://www.wired.com/autopia/2013/01/honda-siri/
The only place I didn’t see a LIVE deer was in whole foods…….never assume my friend…
Comrade Nom DePlume says:
January 31, 2013 at 4:23 pm
[38] pain …The only place I didn’t see a deer was in whole foods.
Chi – email me the details
#53 Grim,
I called this … :*)
http://money.cnn.com/2013/01/31/technology/amazon-down/index.html
nom [24]
This map is better:
http://www.businessweek.com/articles/2013-01-31/u-dot-s-dot-gun-homicide-rates-a-comparative-look
Yes you did.
Didn’t I call this?
http://www.wired.com/autopia/2013/01/honda-siri/
I’ll try tomorrow….let me check with them first…..
Grim says:
January 31, 2013 at 6:51 pm
Chi – email me the details