Monthly Archives: March 2006

Who wants to buy in a falling market?

This one is from Saturday morning. Decided to post it here for those who don’t visit the other housing bubble blogs. The story comes from the Washington, D.C. area, but you could easily replace Arlington with any Northern NJ town … Continue reading

Posted in General | 116 Comments

Sunday Afternoon Open Discussion

No rules, open discussion, anything goes. For readers that have never commented, there is a small link on the bottom of each new message that reads “# Comments”. Go ahead and give that a click, you might be missing out … Continue reading

Posted in General | 46 Comments

Lowball! 3/18 – 3/25

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

Posted in General | 13 Comments

“Bubbles do burst”

Economist Robert Shiller, of Irrational Exhuberance fame, gave a rather important interview to ABC/Nightline news yesterday. I say important because it means the housing bubble is beginning to get significant exposure and coverage in the mainstream news. Robert Shiller, the … Continue reading

Posted in General | 11 Comments

At A Glance: Hanover Twp, NJ

At A Glance: Hanover, NJ Listings As of 3/25 Total Active Listings: 51 Up To $500,000: 25 $500,001 – $1,000,000: 20 $1,000,001 And Up: 6 Listing Activity Since 3/1 23 Added 0 Back on Market 12 Price Reductions 13 Under … Continue reading

Posted in General | 19 Comments

Price Reduced! 3/13 – 3/25

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 | 24 Comments

At A Glance: Mendham, NJ

Mendham Boro & Twp., NJ – Morris County Mendham from City-Data Listings As of 3/24 Total Active Listings: 129 Up To $500,000: 6 $500,001 – $1,000,000: 45 $1,000,001 And Up: 78 Listing Activity Since 3/1 37 Added 3 Back on … Continue reading

Posted in General | 65 Comments

New Home Sales Plummet

Hot off the newswire: New Home Sales Plummet in February WASHINGTON – Sales of new homes plunged by the largest amount in nearly nine years in February while the median price of a new home dropped for the fourth straight … Continue reading

Posted in General | 25 Comments

Massachusetts Home Prices See Year Over Year Decline

From the Boston Herald: House prices still in slide: Realtors report drop in median Bay State house prices are falling on an annualized basis for the first time in a decade as Massachusetts housing continues to cool – bucking a … Continue reading

Posted in General | 11 Comments

Jersey Realtor Turns Burglar

From the Record/Herald News: Realtor was a burglar, cops say It began in December, when a Mahwah man who had put his house up for sale returned from work one evening to find a camera and camcorder missing. Sometime later, … Continue reading

Posted in General | 28 Comments

Don’t Get Too Excited Over Existing Home Sales

The National Association of Realtors released their existing home sales report for Febuary to much fanfare this morning. February EHS (PDF) While starts came in above analyst expectations, they were down 0.3% year over year (6.93 in Feb ’05 versus … Continue reading

Posted in General | 36 Comments

Arbitrageur, not renter.

Why renting just might be more financially sophisticated than everyone thinks. How many times have we all heard the term “bitter renter”, how many times have you been called “jealous” for expousing your views on the housing bubble? Renters have … Continue reading

Posted in General | 29 Comments

At A Glance, East Hanover, NJ

East Hanover, NJ – Morris County GSMLS Listings As of 3/23 Total Active Listings: 43 Up To $500,000: 9 $500,001 – $1,000,000: 33 $1,000,001 And Up: 1 Listing Activity Since 3/1 14 Added 4 Back on Market 15 Price Reductions … Continue reading

Posted in General | 45 Comments

Northern NJ Weekly Residential Inventory Update

GSMLS Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 3/15 – 13,418 3/22 – 13,779 (2.7% Weekly Increase) NJMLS Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Passaic Counties) 3/15 – 6,581 3/22 … Continue reading

Posted in General | 22 Comments

Mortgage Purchase Applications Continue Decline

From Bloomberg: U.S. MBA’s Mortgage Applications Fell 1.6% Last Week A gauge of U.S. mortgage applications fell last week to the lowest level of the year as home purchases and refinancing declined, a sign housing will be less of a … Continue reading

Posted in General | 10 Comments