Greetings from the Jersey Shore.
Love is…
…an unsecured wireless network.
Sorry for the lack of updates today, I’m down on Long Beach Island for the holiday weekend. Thought I’d get a chance to find internet access locally, but no dice. Well, until I found this an unsecured wireless network I can connect to from the deck. Thanks go out to whoever you are, I’ve got a beer and a burger here for you.
Observations about your local areas, comments on news stories or the New Jersey housing bubble, Open House reports, etc. If you have any questions you wanted to ask earlier in the week but never posted them up, let’s have them.
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 on a world of information you didn’t know about. While you are there, introduce yourselves to everyone.
For new readers that have only read the messages displayed on the main page, take a look through the archives, a substantial amount of information has been put online in the past 6 months. The archives can be found at the bottom of the right hand menu and are categorized by month.
Hope everyone has a great weekend. As always, anything goes!
Mind the big biting LBI flies, Grim!
Same for me. when I was connnecting in March. Free wifi rules. Any comments on the video I recomended?
Watch out for those black flies! Get a trap for them. I learned about them in Vermont of all places.
enjoy you vacation.
i read on the jersey shore housng blog there is a glut of boats for sale, i am sure it has to do with overextended people.
anyone notice other luxary items like cars for sale?
Metro,
I found the same video on housing panic too and I thought it was very good.
Andy
Since we’re not there until Sunday (90 and sunny, hubby says), I’ve been thinking about the controversy around here about whether or not NNJ can have a great decline because of:
1. regional protection from NY
2. expanded job mkt
3. build-out/nobody’s making any more New Jersey
4. etc.
Been looking around some cities to see what average Joe is saying.
http://www.washingtonpost.com/wp-dyn/content/article/2006/03/24/AR2006032400802_2.html “..Next Saturday in the Real Estate section, listen in as Cave and a group of his friends debate the merits of homeownership and renting in the Washington market.”
Didn’t have time to find more (gotta get back to the Mets) but I’m betting there are a lot of people in a lot of cities saying the same thing.
This guy bought a townhouse in 03/2006 for 283K. He is now selling the same Town House for 429k!!!
buying price
selling price
Please tell me something is wrong.
Anon @8:24,
For 513 Margaret Ct –
Hsiao, Min Chin & Yang, Mei Ping are the listed owners for the last 3 years. I don’t see a sale in 03/2006. I am guessing that they bought the house in 2001.
The list prices for homes on sale like this one is in the $375-$450K range. IMO, it is a little high for a South Plainfield location – but I doubt if this sold for $283K anytime recently.
CNS
Thanks CNS
..but relaestateabc.com shows a sale on 03/02/06. Click on the “buying price” for a link to thier website. I guess the data on the website is wrong
513 Margaret Ct | 0 mi 03/02/2006 | $283,000 | N/A N/A | N/A N/A | N/A | N/A
Quite a few homes here for sale. The local real estate advertisement book is the thickest that I’ve ever seen. The neighbor was thinking about selling her home, real estate agent told her that it wasn’t the time to sell..
grim
I saw some ridiculous news story this morning about how people will end up paying more for the same house if they keep waiting.
They showed a 1,250,000 apartment at 6% and then went to say that if it went to 1,150,000 and 7% you’d be paying more.
DUH. It’s likely that if rates are 7% there’s no way a 100k price drop will attract anyone. 100K price drops are the norm on $1m+ properties these days.
Morons.
richie
they still dont get it
don’t worry, the squeeze is on – current speculators are feeling the pinch and it’s getting tigher every day. Soon they will break to relieve their pain and start dropping their unmet asking prices…
Hello to all:
I’ve recently been reading this blog, and think it’s very helpful.
“Fencesitters,” we live in PA (I work in S. Brunswick, hubby in Phila.).
Grim, do you mean LBI has lot more than usual?
Thanks for all the info here.
30,000 HOUSES SALE PARTY NEXT WEEK
BABABABABABA
BOYCOTT OVERPRICED OVERINFLATED HOUSE!
NO BIDS NO MAAS!
MAY 27 —- 29,929
MAY 26 —- 29,832
MAY 25 —- 29,747
MAY 23 —- 29,626
MAY 22 —– 29,496
MAY 3 —– 28,110
APRIL 12 — 26,582
MARCH 6 —- 24,111
And the starving realtors and greedy sellers say this is NORAML.
HA!!!!!!
BOYCOTT HOUSES!
NO MAAS TO MONTHLY MTG SLAVERY.
Bob
BOOOOOOOOOOOOYAAAAAAAAAAA!
Bob
let’s see, there are 30,000 houses for sale in the area. How do I best distinguish mine from the others??? Hmmmm, I wonder if dropping my asking price will help it get noticed?!?!? Duh…
Also Housing inventories at RECORD HIGHS on a national basis!!!!!!
6 months supply or 3.38 million homes for sale. This does not Include FSBO!!!!!
9 months housing supply back in 1991.
get a little patience for once!!!
Take the pacifiers out.
The Floor is about to collapse in.
BOYCOTT HOUSES!
make the realtors starve and lose more sleep. Buyers will be a rare commdity!!!
Boooooooyaaaaaaaaaa
Bob
BOYCOTT MONTHLY MTG SLAVERY…..
IT AIN’T WORTH IT!
TELL’EM NO MAAS AND DEMAND SUBSTANTIAL PRICE CUTS. 30% +.
NO BIDDING NO BIDDING! NONE ABSOLUTELY ZERO BIDS.
MISERY RISING!
BOOOYAAAAAAA
Bob
Montclair is the town that has the most urban appeal [and problems] but is out into Jersey. There are other decent places, but it is the closest one – nightlife, restaurants, good bagels, bus/train options. It also has a better vibe than Maplewood.
I may as well give a shout out for Red Bank as well, but I would want to suggest using the ferry, so you need to have a downtown, not midtown, job.
Montclair
prices are still in the twilight
zone.
and of course the tax burden.
However, trans.is great.
red bank
great
ferry , expensive
Grim,
There was a nice internet cafe on LBI with wi-fi access (and great pastries, too):
http://howyoubrewin.com/index.shtml
Enjoy your vacation
hey Bob, I wouldn’t get TOO excited about inventory reaching 30,000. With all the 1, 3 and 5-yr ARMs adjusting in the next 18 months, 30,000 is going to look meager! If I had a property to sell, I’d get out in front of that tidal wave.
Skeptic, you are too cool. We’re there in the a.m.
Thanks,
Pat
Skeptic,
Thanks! I think I noticed that place when I drove down. Is it next to Voodoo steakhouse?
Wish we were closer to it, we’re down in Beach Haven, so it’s a hike to get up there.
grim
Montclair and Redbank are both on our plate as possibilities. From what I’ve heard though…Taxes are high in both townships. The Ferry is a problem from Redbank though as I work smack dab in midtown.
Is there a train or bus in or by Redbank to Penn Station/Port Authority? Any idea how long it takes. I figured I’d ask. ;-)
Thanks again for the Replies. Hope your Memorial Day Weekend is a blast! The weather is beautiful
That ferry from Redbank is over $600 a month by the way…train ride is upwards of 90 minutes.
Yikes!
When is the 40,000 house inventory?
I suspect by yearend.
Boycott Ripoff House Prices>
No Bids NO MAAS!
BOOOOOYAAAAAAAAAA
Bob
STARVE REALTORS STARVE!
“‘I think the reason we are going to see so many foreclosures, so many more than we have ever had in the past, is because a broker or loan originator has gotten people into these crazy kinds of loans,’ said Steven Schneider, president of the Florida Association of Mortgage Brokers.”
Do NOT be a bagholding underwater Mortgage SLAVE!
BOYCOTT BIDDIN!
NO BIDS NO MAAS
BOOOOOOOOOYAAAAAAAAA
Bob
Grim,
Yes, the cafe shares the same building with Voodoo steakhouse; the entrance was on the left side, if you look from the street.
If I remember correctly, the public library on Central Ave in Surf City also had Internet access.
Future buyers! Dont buy yet. Have some patience. This housebubble.com BUBBLE will burst soon. Then there will be fun to kick THEIR asses and low balling.
montclair is a great commuter town and has more ‘urban-ness’ going on than most anywhere else in NJ. here’s the big problem. taxes are way high, schools are mediocre and it’s just north of some nasty areas. buyer beware.
Anonymous said…
That ferry from Redbank is over $600 a month by the way…train ride is upwards of 90 minutes.
8:03 AM
The ferry is $550. The train is $300. If you consider that time is money, it is well worth the peace of mind.
Are you guys including parking in the $550 ferry?
Hi! I like what you are doing. Maybe we could exchange tips on Wellness. You can have a quick look at http://www.wellnessmaster.com so we can exchange ideas.
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