Monthly Archives: November 2006

Anti-NAR

Posted on November 5, 2006 by grim

Hat tip to CharlesM2, from the Boston.com message board, for creating this spoof of the newest NAR marketing campaign.

Posted in National Real Estate | 46 Comments

Weekend Open Discussion

Posted on November 5, 2006 by grim

This is the time and place to post 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 … Continue reading →

Posted in General | 253 Comments

“Buyers waiting for prices to bottom out can cause prices to drop”

Posted on November 5, 2006 by grim

From the LA Times: Meet the flockers By Diane Wedner We haven’t seen this much peer pressure since high school. Buyers wait for others to jump in. And sellers won’t budge on price till neighbors drop theirs. … TECHIE music … Continue reading →

Posted in Housing Bubble | 12 Comments

“…bubble bloggers have become the sages of the day.”

Posted on November 5, 2006 by grim

From the San Francisco Chronicle: As bubble sags, market critics are busting out By Carol Lloyd When the market was booming, every baby jump in prices was reported with a fascination bordering on mania. As home prices rose like hot-air … Continue reading →

Posted in Housing Bubble, National Real Estate | 9 Comments

Price Reduced 10/16 – 10/31

Posted on November 4, 2006 by grim

Welcome to another edition of Price Reduced! For all the newcomers to the site, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as evidence that … Continue reading →

Posted in Price Reduced | 29 Comments

The monstrous delusion

Posted on November 4, 2006 by grim

From Lew Rockwell: The Lie That Blew Up the World by Bill Bonner We are still not sure that the great bull market in U.S. residential real estate has come to an end. What we are sure of, on the … Continue reading →

Posted in Housing Bubble | 16 Comments

Oops

Posted on November 4, 2006 by grim

From the Record: Ridgefield man wins wrong land By SHAWN BOBURG Ronald Leach thought it was a once-in-a-lifetime opportunity — a chance to buy a sprawling, tree-studded lot in the center of the densely packed town of Ridgefield, a quiet … Continue reading →

Posted in New Jersey Real Estate | 7 Comments

Mortgage debt more significant than expected

Posted on November 4, 2006 by grim

From the New York Times: A Growing Burden of Home Debt By BOB TEDESCHI CREDIT counselors are finding that mortgage debt is playing a bigger role in the deteriorating financial health of consumers contemplating bankruptcy. In a survey released last … Continue reading →

Posted in Risky Lending | 50 Comments

Hovnanian to redevelop NJ site

Posted on November 4, 2006 by grim

From the Trenton Times: Ex-TV site to change over to townhouses BY JULIE O’CONNOR Township officials say they won’t miss the battered blue awning and sandy parking lot of the boarded-up former New Jersey Network building on Parkside Avenue. “I’m … Continue reading →

Posted in New Development, New Jersey Real Estate | Comments Off on Hovnanian to redevelop NJ site

Trump in JC

Posted on November 4, 2006 by grim

From the New York Times: Maids, Spas and Sweeping Views By ANTOINETTE MARTIN WHILE virtually all signs point to a housing market gone limp, sales at two opulent projects in Hoboken and Jersey City indicate that there is still vibrancy … Continue reading →

Posted in New Development, New Jersey Real Estate | 15 Comments

And people say I have an agenda?

Posted on November 3, 2006 by grim

I think it is time for some more of my own commentary on the blog. Over the past few months I’ve tried to hold back my own opinion, preferring instead to simply post stories as I found them. Yesterday I … Continue reading →

Posted in Housing Bubble, National Real Estate | 216 Comments

Buyers can’t wait to get out of contracts

Posted on November 3, 2006 by grim

From the Wall Street Journal: The New Word in Home Sales: ‘Canceled’ By June Fletcher and Ruth Simon A little over a year ago, buyers couldn’t wait to sign contracts to purchase homes. Now, many can’t wait to get out … Continue reading →

Posted in Housing Bubble, National Real Estate | 16 Comments

“Why not take a little cash out?”

Posted on November 3, 2006 by grim

From the Minneapolis-St. Paul Star Tribune: Many Americans living precariously on debt When mortgage rates were at historic lows a few years ago, Victoria Bolton and her husband refinanced their home in St. Paul, Minn., taking out cash to pay … Continue reading →

Posted in Housing Bubble, Risky Lending | 6 Comments

Access to fair credit

Posted on November 3, 2006 by grim

From Inman News: Fed chief backs more study of subprime lending The “democratization” of credit has created more opportunities for home ownership, but questions remain whether uninformed consumers pay too much for home loans and whether lenders are competing in … Continue reading →

Posted in General | 3 Comments

Buyers aware of the slowing market

Posted on November 2, 2006 by grim

From SmartMoney.com: Extreme House-Selling Strategies By Aleksandra Todorova IT’S A TOUGH TIME for home sellers. While the media competes for the direst gloom-and-doom real-estate-bubble headline, crowded open houses and bidding wars are becoming a quick-fading memory. Homes prices are down, … Continue reading →

Posted in Housing Bubble, National Real Estate | 9 Comments