Monthly Archives: November 2006

Red Bank Downtown Development

Posted on November 9, 2006 by grim

From the Red Bank Hub: Analyst: Residences will benefit downtown A residential development proposed for West Front Street would add tax revenues to borough coffers and could bring $1.5 million to the downtown shopping area, according to an economic analysis … Continue reading →

Posted in New Development, New Jersey Real Estate | 5 Comments

Keeping up with affordable housing

Posted on November 9, 2006 by grim

From the Gloucester County Times: South Harrison looks at housing after lawsuit In response to a New Jersey Builders Association lawsuit, the township has proposed changing its affordable housing requirements, now calling for an affordable housing density of 11 percent … Continue reading →

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

Northern New Jersey October Residential Sales

Posted on November 8, 2006 by grim

Preliminary October sales data for Northern New Jersey is in.. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound of the graph, it is set to 1000, not to zero. … Continue reading →

Posted in New Jersey Real Estate | 154 Comments

Yes, Yes, Yes

Posted on November 8, 2006 by grim

From the AP: New Jerseyans say yes, yes and yes again New Jersey voters on Tuesday approved additional funding for property tax relief, park maintenance and highway and mass transit improvements. The three ballot questions asked whether the state constitution … Continue reading →

Posted in Politics, Property Taxes | 2 Comments

Agents know nothing but boom times

Posted on November 7, 2006 by grim

From CNN/Money: Real estate: Babes in bear land A financial planner who had never seen stock prices lose value probably isn’t the best place to turn for investment advice. But many Americans are taking just that kind of a flyer … Continue reading →

Posted in Housing Bubble, National Real Estate, New Development | 23 Comments

Builder Watch

Posted on November 7, 2006 by grim

From Marketwatch: Toll Brothers cuts delivery guidance, doesn’t spot recovery Toll Brothers , the Horsham, Pa.-based luxury home builder, cut its delivery guidance for the next fiscal year and said it doesn’t see a recovery in sight. But it also … Continue reading →

Posted in Housing Bubble, National Real Estate | 16 Comments

New management for Kara homes?

Posted on November 7, 2006 by grim

From the AP via the Asbury Park Press: Kara chooses specialist in turnarounds Under fire to change its management, Kara Homes Inc. has selected a veteran of corporate turnarounds to guide the company through its bankruptcy, according to court documents … Continue reading →

Posted in General, Housing Bubble, New Jersey Real Estate | 5 Comments

Bubble bursting? What to do?

Posted on November 7, 2006 by grim

From the Courier Post: Housing market affects small businesses By RHONDA ABRAMS Hear that steady hiss? That’s the air seeping out of the housing bubble. Home prices are in decline in the United States, with important consequences for small businesses. … Continue reading →

Posted in Housing Bubble, National Real Estate | 19 Comments

Home prices down 10% in ’07 – UBS

Posted on November 6, 2006 by grim

From Marketwatch: UBS sees home prices down 10% in 2007 By Janet Morrissey Home prices will fall 10% on average in 2007 and it will likely take three years to clear out the huge inventory of empty unsold homes currently … Continue reading →

Posted in Housing Bubble, National Real Estate | 30 Comments

You can’t lose money on real estate… Can you?

Posted on November 6, 2006 by grim

From New York Magazine: This Isn’t Their Moment For the first time in years, it’s possible to lose money on a New York apartment. By S.Jhoanna Robledo Few jobs are as irregular as acting. Which may be why Jeremy Kushnier … Continue reading →

Posted in Housing Bubble, National Real Estate | 5 Comments

Why is title insurance so expensive?

Posted on November 6, 2006 by grim

We routinely knock the real estate industry for having a commission structure that is not commensurate with the level of work performed, but what about the title insurance industry? From the Morris Daily Record: Forbes article rips title insurers By … Continue reading →

Posted in National Real Estate | 6 Comments

Could consolidation result in higher costs?

Posted on November 6, 2006 by grim

From the Asbury Park Press: School officials unite against consolidation BY BRANDON LAUSCH It’s a striking scenario: Slash the nation’s highest property tax rates by asking voters to fold the state’s 616 school districts into 21 county districts. The consolidation … Continue reading →

Posted in Property Taxes | 63 Comments

Did the Fed cause the bubble?

Posted on November 6, 2006 by grim

From the WSJ Real Estate Journal: Official Says Bad Data Fueled Rate Cuts, Housing Speculation In an apparent and rare in-house critique, the president of the Federal Reserve Bank of Dallas said that because of faulty inflation data, the Fed … Continue reading →

Posted in Economics, Housing Bubble | 61 Comments

Slush fund or worthy causes?

Posted on November 6, 2006 by grim

From the Courier Post: Three tax questions on ballot Along with picking New Jersey’s next senator, Tuesday’s election will also give voters a chance to decide how their government should use some of the taxes they pay. Three ballot questions … Continue reading →

Posted in Politics, Property Taxes | 7 Comments

New rules for abusers

Posted on November 6, 2006 by grim

From the Record: Sex abusers may face housing rules WAYNE — The Township Council wants to restrict where some convicted sex offenders can live. But a constitutional law expert said the state Legislature and courts have already beaten the township … Continue reading →

Posted in New Jersey Real Estate, Politics | Comments Off on New rules for abusers