Monthly Archives: September 2006

Putting an end to Orwellian affordability

Posted on September 30, 2006 by grim

From Marketwatch: Lenders Gone Wild More than a year after Alan Greenspan warned of the “potential for individual disaster” from a new breed of mortgages that were helping to fuel the housing boom, federal regulators finally are trying to do … Continue reading →

Posted in National Real Estate, Risky Lending | 15 Comments

“The market is dead”

Posted on September 30, 2006 by grim

From the Economist: Going down? (Subscription Required) THREE years ago Rose Hill estates was a dairy farm in Loudoun County. Now it is in the front line of America’s housing slump. The rolling fields are dotted with cut-price McMansions. The … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | Comments Off on “The market is dead”

Auction interest rising

Posted on September 30, 2006 by grim

From the Press of Atlantic City: Going, going, gone ? Is the real estate boom By RICHARD DEGENER Buyers have been scarce lately as the once-booming shore real estate market has cooled, so sellers are resorting to some interesting tactics. … Continue reading →

Posted in Shore Real Estate | Comments Off on Auction interest rising

Cars? Botox? An African Safari?

Posted on September 30, 2006 by grim

From the New York Times: Sweetening the Pot for Home Buyers By LISA PREVOST WHAT does it take to sell a house in a slowing real estate market? Lou Aloupis thinks he knows: a 2006 Mercedes E-Class sedan. A partner … Continue reading →

Posted in National Real Estate | 4 Comments

Fort Monmouth Worries

Posted on September 30, 2006 by grim

From the Asbury Park Press: Fort’s impending closure spurs worries By Joseph Sapia It is not expected to close for another five years, but filling the void that will be when Fort Monmouth closes was on people’s minds at an … Continue reading →

Posted in Economics, Shore Real Estate | 60 Comments

A remodel doesn’t always pay off

Posted on September 30, 2006 by grim

From Bankrate Avoid costly updating when selling your home By Steve Linden Dear Real Estate Adviser, My husband wants to replace the carpet in the bedrooms and put a hardwood floor in the downstairs living area in the hopes of … Continue reading →

Posted in National Real Estate | 2 Comments

Clamping down on risky loans

Posted on September 29, 2006 by grim

From Reuters: US regulators finalize rules on exotic mortgages By Al Yoon Federal banking regulators on Friday finalized rules for underwriting “exotic” mortgages, a move that the biggest U.S. lenders say may stifle the use of loans that make houses … Continue reading →

Posted in Risky Lending | 4 Comments

August Otteau Report

Posted on September 29, 2006 by grim

From the Otteau Group: AUGUST SALES TREND HIGHER The residential market rebounded slightly in August as buyers took advantage of softening prices and declining mortgage rates. August contract-sales activity ran 6% higher than July, suggesting the overall market deterioration is … Continue reading →

Posted in New Jersey Real Estate | 9 Comments

Minimum Wage will rise to $7.15 on Sunday

Posted on September 29, 2006 by grim

From the Record: Employers brace for ‘pay raise’ By KATHLEEN LYNN When the state’s minimum wage rose from $5.15 an hour to $6.15 a year ago, employers shrugged it off, because most were already paying workers more than $6 an … Continue reading →

Posted in Economics, Politics | 5 Comments

Broken Record: Personal Savings Negative Again

Posted on September 29, 2006 by grim

From the BEA: PERSONAL INCOME AND OUTLAYS: AUGUST 2006 Personal income increased $38.4 billion, or 0.3 percent, and disposable personal income (DPI) increased $38.8 billion, or 0.4 percent, in August, according to the Bureau of Economic Analysis.  Personal consumption expenditures … Continue reading →

Posted in Economics | 35 Comments

Ridgewood takes 17th place at $1.01 million

Posted on September 29, 2006 by grim

From CNN/Money: 12 Topekas. 1 Beverly Hills. Tough Trade By Les Christie Pity the poor, modern-day Jed Clampett, exchanging the simple and inexpensive life of the Ozarks for the glitz, glamor – and prices – of Beverly Hills. A typical … Continue reading →

Posted in National Real Estate, New Jersey Real Estate | 13 Comments

“I can’t afford to live in this state anymore”

Posted on September 29, 2006 by grim

From the Courier Post: Taxpayers plead for relief at hearing By LAVINIA DeCASTRO Ten years ago, John Sullivan moved to Gloucester County to escape Cherry Hill’s ever-climbing property taxes. But the problem followed him to National Park, where he pays … Continue reading →

Posted in Politics, Property Taxes | 6 Comments

Hurry up and get that tattoo

Posted on September 29, 2006 by grim

From the Home News Tribune: TATTOOS, CLUB FEES TO COST MORE SUNDAY Sales tax to expand By RICK MALWITZ As angry taxpayers, they could make for a strange scene at a protest march — customers of Big Brad’s South River … Continue reading →

Posted in General, Politics | 2 Comments

Just a flesh wound

Posted on September 28, 2006 by grim

From Peter Schiff via Goldseek: Did He Really Say That? By: Peter Schiff, Euro Pacific Capital, Inc. Going from the sublime to the ridiculous, this week, in response to the first national year-over-year decline in housing prices since 1995, David … Continue reading →

Posted in Housing Bubble, National Real Estate | 54 Comments

Difficulty selling? You are not alone.

Posted on September 28, 2006 by grim

From CNN/Money: Help! Home for sale By Les Christie Home price increases have slowed nationwide and even reversed in many markets. Inventories are up and new home builders are cutting back. More and more sellers are having difficulty selling their … Continue reading →

Posted in Housing Bubble, National Real Estate | 19 Comments