Monthly Archives: May 2006

From the Asbury Park Press: Eminent domain raw deal for property owners “New Jersey has 1,000 redevelopment projects planned or under way. The deck is stacked against the residential property owner, the small business owner, and even industry. If our … Continue reading →

From CNN/Money: Buffett: Real estate slowdown ahead The Oracle of Omaha expects the housing market to see “significant downward adjustments,” and warns on mortgage financing. On the real estate bubble Buffett: “What we see in our residential brokerage business [HomeServices … Continue reading →

Ever wonder why it’s more difficult to become a hair stylist than a real estate agent in New Jersey? So do I. Do New Jersey homebuyers even realize that their barber needed more hours of education than the person brokering … Continue reading →

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. … Continue reading →

From the Express Times: State deficit now $5 billion Meeting with a mix of resignation and disbelief in the Legislature, state Treasurer Bradley Abelow said Thursday an erosion in tax collections means New Jersey’s deficit has grown by about $500 … Continue reading →

From Reuters: Toll Brothers 2nd-Qtr Home Orders Fall 33% on Demand Toll Brothers Inc., the largest U.S. builder of luxury houses, said fiscal second-quarter orders fell 33 percent as customers waited to see whether a glut of homes on the … Continue reading →

From Reuters: US regulators to issue bank market risk rules-Bies Bies also reiterated concerns U.S. regulators have about the proliferation of non-traditional mortgage products, such as interest-only loans, and the easing of underwriting standards. “While the credit quality of residential … Continue reading →

From Fortune via CNN/Money: Welcome to the dead zone Real estate survival guide: The great housing bubble has finally started to deflate, and the fall will be harder in some markets than others. The stories keep piling up. In many … Continue reading →

Listings As of 5/4 – (SFH, Condo, Coop) Total Active Listings: 145 Up To $500,000: 122 $500,001 – $1,000,000: 23 $1,000,001 And Up: 0 Listing Activity Since 5/1 – (SFH, Condo, Coop) 12 Added 1 Back on Market 11 Price … Continue reading →

From the NY Post: JOBS REPORT COULD BURST MARKET’S BUBBLE TOMORROW could be the day of wreckoning for the financial markets. Don’t write, I know how to spell the word. It’s the day of wreckoning because a strong employment report … Continue reading →

The time has come for some criticism of the blog and the blogger. I want to know what you like about the blog, and more importantly, what you dislike. Do you think I cover the issues fairly? Too much economics … Continue reading →

GSMLS Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 4/26 – 15,648 5/3 – 16,111 (3% Weekly Increase) NJMLS Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Passaic Counties) 4/26 – 7,622 5/3 … Continue reading →

From CNN/Money: Working on the housing boom Those looking to glimpse the future of the housing market may want to start watching help-wanted ads rather than the real estate section. Experts who say the housing market is cooling, but won’t … Continue reading →

From the Cherry Hill Courier: Steps urged for state to keep economic edge To retain its economic edge, New Jersey must offer more housing choices, encourage better land use and reduce “racial, class, and space disparities,” an independent research and … Continue reading →

From Inman News: Freddie Mac: Cash-out refis up in first quarter In the first quarter of 2006, 88 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts that were at least 5 percent higher … Continue reading →