Monthly Archives: May 2006

I know many of you have been waiting patiently for this data, sorry it took so long, I needed to make sure the numbers I was given were correct. You’ll understand why when you see the graphs. The first graph … Continue reading →

From the AP: Home Equity May Be Baby Boomers’ Salvation “It’s no secret that baby boomers have not been very diligent about saving for retirement, but that doesn’t mean they don’t have assets. Many live in homes that have appreciated … Continue reading →

Hat tip to Ben Jones at The Housing Bubble for these two links.. From Newsday: LI housing market takes turn for buyers “Welcome to the new world of real estate. Doesn’t it look familiar?” “It’s been nearly a decade since … Continue reading →

Not sure what to make of this piece in USA Today: Analysis finds boom in Hispanics’ home buying “Home buyers with names such as Rodriguez, Garcia and Hernandez bumped Brown, Miller and Davis down the list of most common buyers’ … Continue reading →

No need to panic, we’ll be fine… As long as jobs don’t decline, or home prices don’t decline, or rates don’t increase.. From ABC News: Home Foreclosures Up as Mortgage Rates Climb “As interest rates increased steadily over the past … Continue reading →

GSMLS Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 5/3 – 16,111 5/3 – 16,539 (2.7% Weekly Increase) NJMLS Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Passaic Counties) 5/3 – 7,792 5/10 … Continue reading →

From the Federal Reserve: FOMC Statement Release Date: May 10, 2006 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 5 percent. Economic growth has … Continue reading →

From the Record/Herald: It’s taking longer to sell a house by Prashant Gopal “Last spring, Michael Segal put his Teaneck home on the market for $600,000 — an asking price selected with the help of his Realtor.” “Buyers showed interest, … Continue reading →

From CNN/Money: Applications for home loans slip “The number of people applying for mortgages fell last week, led by a sharp drop in refinancing applications, an industry group said Wednesday.” “The Mortgage Bankers Association said its seasonally adjusted index of … Continue reading →

I know that agent-bashing is a pretty common sport on this blog. It’s obvious that most readers don’t hold agents in high regard. One of the reasons for it, I think, is that they believe that the dollar amount of … Continue reading →

The following is an advertisement from Freddie Mac. It appears on the back cover of the current issue of National Review. savings (noun) 1. A fund of money put by as a reserve. nest egg (noun) 1. Slang for money … Continue reading →

From the NY Times: A Chill Is in the Air for Sellers “Many Americans who planned on real estate as their path to wealth are beginning to find that there are limits to how high is up.” “Blame market forces. … Continue reading →

I would like to share a very interesting story told to me by an New Jersey Real Estate Agent this afternoon. It’s short, but it’ll raise your eyebrows. Seems that the mood has changed at the weekly sales meeting at … Continue reading →

I think that everyone should give this piece some thought. Don’t just glance over it. Don’t try to rationalize it away by saying “We’re not Japan”. If there is one place in the world that there is a lack of … Continue reading →

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 →