Monthly Archives: January 2007

Weekend Open Discussion

Posted on January 21, 2007 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 | 386 Comments

Is the south the growth engine of NJ?

Posted on January 21, 2007 by grim

From the Courier Post Online: Future of S.J. space tackled If you think South Jersey residents are hostile to increased development, you haven’t heard the roar from towns north of Trenton. “Resistance to development is in its infancy in South … Continue reading →

Posted in Economics | 2 Comments

Who, or what, is doing your appraisal?

Posted on January 21, 2007 by grim

From the Chicago Tribune: Appraisers to databases: Back off With home prices stagnant or declining in dozens of markets around the country, a bitter dispute has broken out in the property appraisal industry, a fight that could affect how millions … Continue reading →

Posted in National Real Estate | 5 Comments

Impact on schools overstated?

Posted on January 21, 2007 by grim

From the Asbury Park Press: Effect of new housing on schools, population overstated, study finds A new look at housing, population and job market data suggests while the housing boom of the past two decades spread homes all over the … Continue reading →

Posted in New Development, New Jersey Real Estate | Comments Off on Impact on schools overstated?

Jump in NJ shore rentals

Posted on January 21, 2007 by grim

From the Press of Atlantic City: Shore rentals heat up as home sales cool off Fewer people may be buying a piece of the shore, but more are renting part of it. Real estate businesses are reporting a surge in … Continue reading →

Posted in Shore Real Estate | Comments Off on Jump in NJ shore rentals

NJ income taxes miss target

Posted on January 20, 2007 by grim

From the Asbury Park Press: Income tax revenues 15% below projections New Jersey’s income tax collections came in 15 percent below estimates in December, although strong business taxes kept the state’s overall revenue for the fiscal half year within one-half … Continue reading →

Posted in Economics | Comments Off on NJ income taxes miss target

Will New Jersey ever be affordable?

Posted on January 19, 2007 by grim

From the Asbury Park Press: Property tax reformers bypass impact of sprawl on economy Everyone in New Jersey agrees that property taxes are too high, but what most people don’t realize is that the damage goes far beyond our wallets. … Continue reading →

Posted in Economics, New Jersey Real Estate | 3 Comments

Prices dropping or market crashing?

Posted on January 18, 2007 by grim

From the AP: Experts: NJ job growth slow; home prices correcting, not crashing New Jersey is likely to see job growth of only 0.6 percent this year, down 50 percent from last year, when it already trailed far behind the … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 309 Comments

NJ economic growth lags

Posted on January 18, 2007 by grim

From the Asbury Park Press: N.J.’s economic growth trails nation’s New Jersey’s economy created 20,500 jobs in 2006, less than half the number created in 2005 and well off the pace of the rest of the country. The latest unemployment … Continue reading →

Posted in Economics | 6 Comments

Can we sell the state house?

Posted on January 18, 2007 by grim

From the Jersey Journal: Corzine considers construction above Secaucus Junction They may not be as lucrative – or controversial – as leasing the New Jersey Turnpike for a century, but the Corzine administration is studying the sale of other state … Continue reading →

Posted in Politics, Property Taxes | 4 Comments

Fed Beige Book – Focus on Real Estate

Posted on January 17, 2007 by grim

From the Federal Reserve: Beige Book – Summary Real Estate and Construction Nearly all Districts reported a continued softening in housing markets. High inventories of new homes have generally led to a slowing in residential building, with some exceptions. While … Continue reading →

Posted in Economics, National Real Estate | 7 Comments

Keeping Kids out of Jersey

Posted on January 17, 2007 by grim

From Bloomberg: `Vasectomy Housing’ Surges in New Jersey as Property Tax Remedy New Jersey towns have figured out a way to tame the highest property taxes in the U.S. Keep kids out. Educating a child in New Jersey costs an … Continue reading →

Posted in New Development, New Jersey Real Estate | 87 Comments

NJ Foreclosures up 45% (YOY) in December

Posted on January 17, 2007 by grim

From CNN/Money: Foreclosure rates up big in December Americans continue having difficulties paying their mortgage obligations, with December foreclosure rates above the 100,000 mark for the fifth straight month. The number of homeowners entering into some stage of the foreclosure … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 7 Comments

Trouble in the age-restricted market?

Posted on January 17, 2007 by grim

From the Record: Condos for seniors could be sold . Hovnanian Homes, the largest home builder in New Jersey, may sell its Concierge Club, a Teaneck condominium complex catering to those 60 years old and up, the company said this … Continue reading →

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

What does Freddie think?

Posted on January 17, 2007 by grim

From MortgageNewsDaily.com: Freddie Mac: Three Trends Will Impact Home Market and Financing The January 2007 Economic Outlook which is published last week by the Office of the Chief Economist at Freddie Mac was headlined “The Remodeled Housing Market” and was … Continue reading →

Posted in Economics, National Real Estate | 1 Comment