Monthly Archives: December 2006

Foreclosures up 4% in November

Posted on December 13, 2006 by grim

From RealtyTrac via PR/Newswire: November’s Foreclosure Rate Highest of the Year RealtyTrac(R) (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, today released its November 2006 U.S. Foreclosure Market Report, which shows that 120,334 properties nationwide entered some stage of foreclosure … Continue reading →

Posted in Housing Bubble | 1 Comment

Who should pay for JC recreation?

Posted on December 13, 2006 by grim

From the Jersey Journal: Time for developers to start playing ball in Jersey City A preliminary draft of Jersey City’s recreation master plan offers policy makers and residents a stark account of the city’s recreational and open space inventory, which … Continue reading →

Posted in New Development, New Jersey Real Estate | Comments Off on Who should pay for JC recreation?

Teardown pace slows

Posted on December 12, 2006 by grim

From the AP via MSN/Money: Teardowns Slowing As Home Market Cools It was a rare occurrence in a community with a national reputation for tearing down old houses: A developer bought the historic cottage at 327 S. Oak St. but … Continue reading →

Posted in Housing Bubble, National Real Estate | 21 Comments

“If a few speculators get burned, that’s just icing on the cake.”

Posted on December 12, 2006 by grim

From the Washington Times: Risky mortgages imperil market The risk of a financial crisis is growing as home prices continue to fall and questionable mortgages made in the past two years go into default, finance officials warned yesterday. Banks and … Continue reading →

Posted in Housing Bubble | 134 Comments

Price downturns “are nothing new in real estate.”

Posted on December 12, 2006 by grim

From the Home News Tribune: Buying home smart; don’t mortgage future Andrea Pemberton-Fowler bought her North Brunswick home 16 years ago with the hope of saving for her children’s educations. “I was thinking that my kids were young and if … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 20 Comments

Journal Square Towers

Posted on December 12, 2006 by grim

From the Jersey Journal: Approval sought for towers on the Square A towering mixed-use development proposed for the heart of Journal Square is set to go before the Planning Board tonight for preliminary approvals. The $350 million project will include … Continue reading →

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

“The trouble, of course, is predicting when.”

Posted on December 11, 2006 by grim

From the Economist: Bubble and squeak (Registration Required) IN MANY countries, people are showing little sign of losing their appetite for residential property. Although the pace in several of the raciest markets around the world has eased a bit in … Continue reading →

Posted in Economics, National Real Estate | 82 Comments

Some people you just shouldn’t trade against

Posted on December 11, 2006 by grim

From Barrons: Look Who’s Selling (Registration Required) By DOUGLAS A. KASS THERE ARE SOME PEOPLE you just shouldn’t trade against. Among them: George Soros, Stanley Druckenmiller, Steve Cohen, Ed Lampert and Sam Zell — yes, the Sam Zell who recently … Continue reading →

Posted in National Real Estate | 6 Comments

Corzine didn’t cave?

Posted on December 11, 2006 by grim

From the AP: Governor reverses stance on reforms In a sudden change of course amid heightening property tax reform tension between the governor and the Legislature, Gov. Jon S. Corzine on Sunday challenged legislative leaders to push forward plans to … Continue reading →

Posted in Politics, Property Taxes | 15 Comments

Weekend Open Discussion

Posted on December 10, 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 | 236 Comments

More Morristown redevelopment

Posted on December 10, 2006 by grim

From the Daily Record: Morristown townhome plan to get second chance The planning board will decide this month whether to take the recommendation of a professional planning firm to create yet another redevelopment zone in town. The firm of Phillips, … Continue reading →

Posted in New Development, New Jersey Real Estate | 4 Comments

Pension Tension

Posted on December 10, 2006 by grim

From the Home News Tribune: Tensions grow over pensions Since he retired three years ago, Craig Verran has seen his property-tax bill increase by 60 percent. He’s watched his health-care costs grow by between 11 percent and 20 percent each … Continue reading →

Posted in Politics, Property Taxes | 10 Comments

Caved, caved, caved.

Posted on December 9, 2006 by grim

From the Asbury Park Press: Corzine caves on benefits One of the few bright spots about the work of the special legislative committees that studied property tax reform was the series of recommendations for reducing pension and other benefit costs … Continue reading →

Posted in Politics, Property Taxes | 22 Comments

“It appears that county government is being squeezed”

Posted on December 9, 2006 by grim

From the Herald News: Corzine hears county protest Passaic County Freeholder Director Elease Evans laid out her fiscal frustration on Friday before Gov. Jon S. Corzine over reining in escalating government costs. “It appears that county government is being squeezed,” … Continue reading →

Posted in Politics, Property Taxes | Comments Off on “It appears that county government is being squeezed”

Flipper Nation Episode 2: The Blame Game

Posted on December 8, 2006 by grim

Some early weekend humor! Flipper Nation: The Blame Game There’s more where this came from at: FlipperNation.comIf you cannot view this video, you can check it out at YouTube instead.

Posted in General | 16 Comments