Monthly Archives: September 2006

New mortgage standards due in “weeks, not months”

Posted on September 22, 2006 by grim

From Inman News: Tighter standards for new mortgages coming soon New guidelines that would require banks to tighten underwriting standards and track portfolio risks on nontraditional mortgages while providing more comprehensive disclosures to borrowers will be finalized this fall, a … Continue reading →

Posted in National Real Estate, Risky Lending | 2 Comments

Fallout from the bubble

Posted on September 22, 2006 by grim

From FXStreet.com: The Economy In Denial: Fallout from the Bursting Housing Bubble Every day, another economist claims that the impact of the slowdown in housing on the economy is overrated; a few months ago, many still disputed there even was … Continue reading →

Posted in Economics | 3 Comments

Markets extremely overvalued

Posted on September 22, 2006 by grim

From CNN/Money: More home markets ‘extremely’ overvalued Despite a cool-off in home prices, more markets are overpriced than ever, according to a new survey. Higher interest rates, especially for adjustable-rate mortgages (ARMs), helped push some housing markets into the overpriced … Continue reading →

Posted in Housing Bubble, National Real Estate | 1 Comment

What to do about property taxes?

Posted on September 22, 2006 by grim

From the Home News Tribune: Taxes unanimously hit During a three-hour public hearing yesterday on the property tax, there was a point of unanimous agreement among about two dozen speakers: The New Jersey property tax is an onerous burden. What … Continue reading →

Posted in New Jersey Real Estate | 2 Comments

Just Plain Dangerous

Posted on September 21, 2006 by grim

From Charles Schwab: Housing: ARMed and Dangerous This time last year, a hot topic at cocktail parties was how high real estate prices could still go. Now, with evidence of falling prices in many parts of the U.S. dominating not … Continue reading →

Posted in Economics, Housing Bubble, Risky Lending | 3 Comments

Relisting revisited

Posted on September 21, 2006 by grim

From Inman News: MLSs attack for-sale home ‘relisting’ practices That new property listing may not be so new, after all. Some agents are pulling properties out of local multiple listing services and then relisting the properties with the MLSs in … Continue reading →

Posted in National Real Estate | 4 Comments

Property Tax Crisis

Posted on September 21, 2006 by grim

From the Herald/Record: Tax foes add political clout Business leaders just got help in their effort to stop a property tax reform proposal that could further burden private employers. Sen. Leonard Lance, R-Hunterdon, said he opposes changing the state constitution … Continue reading →

Posted in New Jersey Real Estate, Politics | 14 Comments

Philly Fed

Posted on September 21, 2006 by grim

From CNN/Money: Philly Fed points to stalling economy Mid-Atlantic factory activity retrenched for the first time in over three years in September, the latest sign of a rapidly-slowing economy. The Philadelphia Federal Reserve Bank said Thursday its business activity index … Continue reading →

Posted in Economics | 17 Comments

1,000,000 Page Views!

Posted on September 21, 2006 by grim

Seems only fitting that we hit our 1,000,000th page view on (almost on) our 1 year anniversary!  I didn’t expect to hit that goal until early October.  Thanks to everyone that made this site a success. Caveat Emptor!  Discuss this in the forum

Posted in General | Comments Off on 1,000,000 Page Views!

Global Ripples

Posted on September 21, 2006 by grim

From Globe and Mail: U.S. real estate crash could cause global ripples The United States real estate market has entered a period of “unprecedented volatility,” and banks, insurance providers, and government housing agencies should brace for global ripple effects, Yale … Continue reading →

Posted in Economics, Housing Bubble | Comments Off on Global Ripples

Home Seller Strategies

Posted on September 20, 2006 by grim

From the Onion: Home Sales Dropping For the third straight month, sales on preexisting homes dropped, leading realtors to call it a “buyer’s market.” Here are some strategies sellers are using to entice buyers: Dropping price by 50 bucks Carrying … Continue reading →

Posted in Housing Bubble, Humor | 4 Comments

Quick note

Posted on September 20, 2006 by grim

I’ll be travelling tomorrow, so updates will be infrequent.  Please take some time to explore the forums. jb

Posted in General | Comments Off on Quick note

Hovbilt to build 965 age-restricted homes in Jackson

Posted on September 20, 2006 by grim

From the Tri-Town News: Board opens hearings for 965-home project After years of discussion, a formal application for 965 homes to be built by Hovbilt has come before the Planning Board seeking approval. The age-restricted adult condominium community will be … Continue reading →

Posted in New Development, New Jersey Real Estate | 1 Comment

If you can’t spot the sucker, it’s you.

Posted on September 20, 2006 by grim

From Businessweek: Confessions of an Ex-Mortgage Lender The Durham (N.C.)-based nonprofit Center for Responsible Lending estimated in July, 2001, that predatory mortgage lending is currently costing Americans more than $9.1 billion each year. Lenders will argue that each one of … Continue reading →

Posted in National Real Estate, Risky Lending | Comments Off on If you can’t spot the sucker, it’s you.

Fed stands at 5.25% – Lacker dissents

Posted on September 20, 2006 by grim

From the Federal Reserve: FOMC Policy Statement The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent. The moderation in economic growth appears to be continuing, partly reflecting a cooling of … Continue reading →

Posted in Economics | Comments Off on Fed stands at 5.25% – Lacker dissents