Monthly Archives: August 2006

From the Herald News: County board orders revaluations The Passaic County Board of Taxation expects to order all municipalities to undergo property revaluations within three years said Richard Mohr, board president. Ringwood, North Haledon, Little Falls, Totowa and West Paterson … Continue reading →

From the Asbury Park Press: Stop chasing business away 10. New Jersey has the highest property taxes in the nation. 9. New Jersey has the highest health insurance costs in the nation. 8. Only parts of California and Hawaii have … Continue reading →

From the NY Times: Sales Are Down, but Prices Aren’t AN analysis of housing sales over the first six months of the year shows a much weaker market: volume dipped by 17 percent statewide and the inventory of unsold homes … Continue reading →

From Businessweek: Why Housing Looks A Little Rickety Hopes that the worst of the housing slowdown has already come and gone may be dimming. Mortgage rates stopped marching higher during recent weeks, and home sales, after tumbling this winter, appeared … 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 Forbes: Condos Cool Off, Apartments Heat Up Bubble believers had some unfortunately vindicating news yesterday when high-end home builder Toll Brothers unleashed bleak fiscal third-quarter results on a glum market: Signed contracts for new homes fell 47%, a humbling … Continue reading →

From the AP: Barbara Lehman has lived in this central New Jersey community for 30 years, but her time here is nearing an end. She sent her children through Montgomery’s well-regarded schools. And she enjoys the rolling landscape even as … Continue reading →

From the Wall Street Journal: Homeowners Start to Feel The Pain of Rising Rates Luisa Cordova-Holmes was looking to lower her monthly payments when she refinanced her $312,000 mortgage in 2004. Instead, she wound up digging herself into a ditch. … Continue reading →

From the NY Times: 100,000 Units of Housing Are Planned in New Jersey Acknowledging that housing in New Jersey is becoming increasingly unaffordable, the Corzine administration says in a report to be made public on Thursday that it plans to … Continue reading →

From the NY Times: Hot Market for Second Homes Hits Slump The brand new 6,000-square-foot vacation home, backing on a boat dock on Moriches Bay, has been on the market for more than a year. After plenty of showings, but … Continue reading →

From MoneyWeek: After the wealth binge – what next for the US? By Stephen Roach The modern-day US economy has just gone through its most extraordinary period of wealth creation on record. First equities, then housing – over the past … Continue reading →

From the Philadelphia Inquirer: http://www.philly.com/mld/inquirer/business/15237520.htm Some home buyers are walking away from deals, forfeiting thousands of dollars in deposits. Home builders are offering special discounts and incentives. And the number of existing homes for sale is climbing in the Philadelphia … Continue reading →

From Newsweek/MSN: House Broke When Shawn Howell saw the house in the summer of 2004, he thought he couldn’t lose. The location-close to family and in an upscale subdivision in Louisville, Ky.,—was perfect; the three-bedroom plus loft was just right. … Continue reading →

GSMLS – http://www.gsmls.com (Garden State Multiple Listing Service) Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 8/2 – 18,643 8/9 – 18,605 (0.2% Decrease) NJMLS – http://www.njmls.com (New Jersey Multiple Listing Service) Single … Continue reading →

GSMLS – http://www.gsmls.com (Garden State Multiple Listing Service) Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 8/2 – 18,643 8/9 – 18,605 (0.2% Decrease) NJMLS – http://www.njmls.com (New Jersey Multiple Listing Service) Single … Continue reading →