Monthly Archives: December 2006

Tax cut for households earning less than 100k

Posted on December 5, 2006 by grim

From the AP via Newsday: Households earning less than $100K to get 20 pct property tax cut The 20 percent property tax break proposed by state lawmakers will go to households that earn $100,000 or less, meaning nearly 70 percent … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 29 Comments

Northern New Jersey November Residential Sales

Posted on December 4, 2006 by grim

Preliminary November 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 General, New Jersey Real Estate | 114 Comments

October Pending Home Sales (PHSI) down 13.2%

Posted on December 4, 2006 by grim

From the National Association of Realtors: October Pending Home Sales Index (PDF) October pending home sales are down 13.2% year over year, and down 1.7% from last month. Northeast pending home sales fell 2.1% from last month, and are down … Continue reading →

Posted in Economics, National Real Estate | 11 Comments

Lowball! 11/16 – 11/30

Posted on December 4, 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 | 40 Comments

“It’s tough to make predictions”

Posted on December 4, 2006 by grim

From the Times Record Herald by Paul Krugman: “It’s tough to make predictions” “It’s tough to make predictions,” Yogi Berra is supposed to have said, “especially about the future.” Actually, his remark makes perfect sense to economists, who sometimes have … Continue reading →

Posted in Economics, General | 10 Comments

Elephant in the room

Posted on December 4, 2006 by grim

From the Courier Post Online: Fix our public schools and broken tax system In my humble opinion, the elephant in the room in New Jersey is manifold: the real-estate tax policy, the public school institution itself, the teachers’ union and … Continue reading →

Posted in Economics, Politics, Property Taxes | 3 Comments

Weekend Open Discussion

Posted on December 3, 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 | 316 Comments

In the name of progress

Posted on December 3, 2006 by grim

From the Philly Inquirer: The Take in South Jersey | Eminent domain vs. a blue-collar dream When you meet Dolores and Louis Achilles, sit with them in the restaurant that has been in the family for more than seven decades, … Continue reading →

Posted in New Jersey Real Estate | 2 Comments

Train to Sussex?

Posted on December 3, 2006 by grim

From the Record: Towns’ dreams derailed Folks in Northwest Bergen and Passaic counties have been talking about it for years — when the train comes to town, things will be different. Property values will jump. Downtowns will be revived. People … Continue reading →

Posted in New Jersey Real Estate | 3 Comments

October 2006 Otteau Report

Posted on December 2, 2006 by grim

OCTOBER SALES TREND HIGHER The New Jersey housing market improved in October as home buyers took advantage of recent declines in home prices and lower mortgage rates. In October, contract-sales jumped 10% after being down by 20% through the first … Continue reading →

Posted in New Jersey Real Estate | 10 Comments

“Our state spends too much money”

Posted on December 2, 2006 by grim

From the APP: Quick fixes won’t repair finances Gov. Corzine is right to refuse to accept a short-term fix when it comes to tax reform. Tax credits can provide immediate relief for the needy, but to benefit everyone, we must … Continue reading →

Posted in Economics, Politics, Property Taxes | 32 Comments

Rolling booms, rolling busts

Posted on December 2, 2006 by grim

From the New York Times: When You’re Moving, but the House Just Sits PAULA AND DAVID LAPADULA had lived in the Northeast their whole lives, most recently in Woburn, Mass., a suburb about 15 minutes north of Boston. Having grown … Continue reading →

Posted in National Real Estate | Comments Off on Rolling booms, rolling busts

OFHEO Q3 HPI

Posted on December 1, 2006 by grim

From OFHEO: HOUSE PRICE APPRECIATION SLOWS FURTHER OFHEO House Price Index Shows Declines in Five States, Continued Deceleration in Others U.S. home prices rose in the third quarter of this year, but the rate of increase continued to slow and … Continue reading →

Posted in Economics, National Real Estate | 9 Comments

Hovnanian pulls out of two Franklin projects

Posted on December 1, 2006 by grim

From the NJ Herald: Franklin: Major builder leaves A nationwide slowdown in the housing market has stalled the borough’s Main Street renewal plan. With new home sales down 17 percent across the country, developer K. Hovnanian has decided to pull … Continue reading →

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