Monthly Archives: January 2006

Foreclosure Primer

It seems many readers here have questions about the foreclosure process and more specifically, how to purchase homes in foreclosure. While I’m certainly not qualified to offer up advice on the process, someone who is has offered up some information … Continue reading

Posted in General | 7 Comments

One In Every Hundred New Jersey Homes Is In Foreclosure

RealtyTrac released the year-end data from their 2005 U.S. Foreclosure Market Report on Monday, showing a 25% increase in nationwide foreclosures over the year. National Foreclosures Increase in Every Quarter of 2005 According to RealtyTrac(TM) U.S. Foreclosure Market Report “Overall … Continue reading

Posted in General | 14 Comments

Just How Far Down Can Home Prices Fall?

From CNN Money: Home prices get even more overvalued Overall, 37 markets were found to be severely overpriced, which meant that they were at least 15 percent more expensive than they should be, and only 6 were underpriced by 15 … Continue reading

Posted in General | 17 Comments

If we can’t convince you to buy a home, we’ll scare you into it.

The recklessness within the real estate industry continues to amaze me. If a historically low interest rate was the fuel behind the red hot market, riskly lending was most certainly the accelerant. There isn’t a week that goes by that … Continue reading

Posted in General | 18 Comments

Exodus From New Jersey

From the NY Times (Registration Required): An Exodus Driven by Home Prices A quest for affordable housing is driving an increasing number of young people, families and empty nesters from the New York suburbs to destinations near and far, a … Continue reading

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Lowball! 1/16-1/22

Lowball! takes a look at home sales over the past week from a very different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the seller … Continue reading

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The Buyers Market Battle Cry

I’ve been noticing two very odd words appearing more and more often lately. What words you ask? I’m sure you can guess. Just today I received an email from a reader with a link to this NY Times piece: The … Continue reading

Posted in General | 16 Comments

Weekend Open Discussion

Open discussion for the weekend. Feel free to post about local observations and news, open houses you’ve stopped in to, the FSBO situation in your neighborhood, or anything else you would like to discuss. Caveat Emptor! Grim

Posted in General | 12 Comments

New Jersey Homebuilders Hosts Home Sale Extravaganza

Local New Jersey Homebuilder is hosting a home sale extravaganza. Centex Home Sale Extravaganza Thought everyone could use a good laugh, I tried my hardest.. Caveat Emptor! Grim

Posted in General | 15 Comments

Bloomberg Concedes NYC Bubble Has Burst

NYC mayor: housing market “dramatically” slowing New York City Mayor Michael Bloomberg on Friday said the real estate market was slowing “dramatically” and only a “miracle” could stop soaring mortgage rates from eating into housing prices. Consumers are definitely feeling … Continue reading

Posted in General | 8 Comments

Lowball Catching On – Diary Of A NJ Real Estate Flipper

From Inman News: The lowball offer A picture may be worth a thousand words, but nobody’s house is worth what they think it is in this market. The tough part is telling people that. I went to see a house … Continue reading

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The Housing Bubble Week In Review

Metro home sales tank Southeast Michigan’s housing market took a sharp dive at the end of a weak 2005, signaling more tough times ahead with interest rates rising and a scarcity of new jobs. Poor sales in the final few … Continue reading

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NNJBubble Reaches Milestone – 100,000 Hits

Well, it took us about 6 months to get here. I remember the early days of the blog when I was excited to see 100 hits a day (and 20 of them were mine). Traffic has really picked up lately, … Continue reading

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Real Estate Bloggers Finally Get Credit

From Blog if you love real estate Blogging has hit the real-estate industry…and it just may upend a marketplace known for inefficiency and restricted information. … “Blogs are telling it like it is at the street level,” said Brad … Continue reading

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Price Reduced! Sub-500 Edition 1/12-1/19

Welcome to another edition of Price Reduced! For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that … Continue reading

Posted in General | 11 Comments