Monthly Archives: December 2006

Weekend Open Discussion – 2k7 Predictions

Posted on December 31, 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 | 213 Comments

“Our buyers need to make that mental transition from home to commodity…and that’s hard”

Posted on December 31, 2006 by grim

From the Record: Financing incentives help seal the deal Developer Pulte Homes is hoping to eliminate the home-selling obstacle facing buyers of its active adult village under construction in Wanaque. After watching its 55-and-older buyers struggle to sell their homes … Continue reading →

Posted in New Development, New Jersey Real Estate | 2 Comments

Not a good year for New Jersey taxes

Posted on December 31, 2006 by grim

From the Asbury Park Press: New N.J. taxes top other states’ cuts It was a good year for taxpayers in most states. Awash in surplus money from an improving economy, 24 states cut taxes in 2006. Others increased the amount … Continue reading →

Posted in Politics, Property Taxes | 5 Comments

Wall Street disconnect grows

Posted on December 31, 2006 by grim

From the NY Post: HOUSING ILLUSIONS HERE’S something to toast at midnight tonight: 2006 has been a great year to live, work and own real estate in New York. Even those not lucky enough to toil at Goldman Sachs shared … Continue reading →

Posted in Economics, Housing Bubble | 2 Comments

November Otteau Report

Posted on December 30, 2006 by grim

From the Otteau Group: NOVEMBER SALES SUGGEST HOUSING MARKET BEGINNING TO STABILIZE November home sales declined only slightly from the October pace reflecting more of a seasonal trend than a slump for the New Jersey housing market. In November, contract-sales … Continue reading →

Posted in New Jersey Real Estate | 15 Comments

We’ll know tax reform when we see it

Posted on December 29, 2006 by grim

From the Asbury Park Press: Five tests to determine real property tax reform We’ll know real property tax reform when we see it. We’ve been closely following the Legislature’s special session. And we haven’t seen it yet. But we’ll know … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 16 Comments

Is NJ only for the wealthy?

Posted on December 29, 2006 by grim

From the New York Times: Newcomers to New Jersey Earn More Than Those Who’ve Left, Figures Show A state short on cachet, New Jersey is getting longer on wealth: New figures from the Internal Revenue Service show that those who … Continue reading →

Posted in Economics | 5 Comments

Wayne to tear down 41 homes

Posted on December 29, 2006 by grim

From the Asbury Park Press: Wayne to buy 41 flood-prone properties, then tear them down Homes in a low-lying section of this northern New Jersey community will be bought and razed by the township because they regularly flood when the … Continue reading →

Posted in New Jersey Real Estate | 9 Comments

Hamilton Township residents “warned to brace for a wallop”

Posted on December 29, 2006 by grim

From the Trenton Times: Future taxes seem grim Hamilton residents warned of big boost Though the coming year’s budget has not been put to bed, township taxpayers have been warned to brace for a wallop in 2008. Auditor Robert Morrison … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | Comments Off on Hamilton Township residents “warned to brace for a wallop”

Existing Home Sales Up 0.6%, Median Prices Down 3.1%

Posted on December 28, 2006 by grim

From the National Association of Realtors: November Existing Home Sales (PDF) From the AP: Home sales gain slightly in November Sales of existing homes managed to eke out a small increase in November but the price of homes sold fell … Continue reading →

Posted in Economics, National Real Estate | 139 Comments

“New Jersey’s slowdown is far worse than the nation’s.”

Posted on December 28, 2006 by grim

From the Philly Inquirer: Jobs in N.J. could use lift from Corzine growth plan By James W. Hughes and Joseph J. Seneca s 2006 comes to a close, jobs in New Jersey are at a record level, approaching 4.1 million. … Continue reading →

Posted in Economics | 34 Comments

NJ economic growth slows

Posted on December 28, 2006 by grim

From the Courier Post Online: N.J. growth hit snag, Fed says New Jersey’s economy was all but stagnant last month following two months of healthy growth, the Federal Reserve Bank of Philadelphia reported Wednesday. The regional bank said the Garden … Continue reading →

Posted in Economics | Comments Off on NJ economic growth slows

The Housing Bears and Goldilocks

Posted on December 28, 2006 by grim

From Bloomberg: Housing Bears May Just Have It Right for 2007: Gene Sperling For economic forecasters divided over the strength of the economy in 2007, the elephant in the room remains the house, or more precisely, housing. While very few … Continue reading →

Posted in Economics, Housing Bubble | 4 Comments

Lowball! December 2006

Posted on December 27, 2006 by grim

Welcome to another edition of Lowball! Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the … Continue reading →

Posted in Lowball | 93 Comments

“Home price gains are continuing their steep deceleration”

Posted on December 27, 2006 by grim

From the AP via the Star Ledger: Home-price growth slows dramatically Prices of single- family homes across the nation rose in October at the slowest rate in almost a decade, a housing index released yesterday by Standard & Poor’s showed, … Continue reading →

Posted in Housing Bubble, National Real Estate | 66 Comments