Monthly Archives: January 2007

New Jersey economy lagging

Posted on January 11, 2007 by grim

From the Record: N.J.’s economy grows at a crawl New Jersey’s economy is lagging behind the recent strong performance of New York City, economists for the Federal Reserve Bank of New York said Wednesday. In a press briefing on the … Continue reading →

Posted in Economics | 146 Comments

Rockland and Orange County sales slip

Posted on January 11, 2007 by grim

From the Journal News: Rockland home prices slip 6.9 percent In data released yesterday, the Greater Hudson Valley Multiple Listing Service reported that Rockland condominiums such as the Cozzolinos’ took an average of 70 days to sell in the final … Continue reading →

Posted in National Real Estate | 4 Comments

Will a tax rate cap negatively impact municipalities?

Posted on January 11, 2007 by grim

From the Gloucester County Times: Officials fear tax cap will cripple their towns Gov. Jon S. Corzine called it absolutely crucial to achieving property tax reform. But municipal officials are wondering how they will support escalating fixed costs if a … Continue reading →

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

Worried about Fort Monmouth

Posted on January 11, 2007 by grim

From the Philly Inquirer: For sale: One U.S. Army base, well used For sale: 1,100 acres with office buildings, townhouses, 20-lane bowling alley and 18-hole golf course. Fitness center with indoor pool, strip mall and 600-seat chapel also available to … Continue reading →

Posted in Economics, New Jersey Real Estate | 3 Comments

Foxtons moves out of mid-Hudson, NY

Posted on January 11, 2007 by grim

From the Times Record Herald: Discount real estate broker Foxtons pulls out of mid-Hudson Foxtons has moved out of the mid-Hudson. The discount real estate company laid off between 20 and 30 agents Saturday and has stopped taking new listings … Continue reading →

Posted in National Real Estate | 5 Comments

Kara Homes seeks new funding

Posted on January 11, 2007 by grim

From the Asbury Park Press: Kara seeks $5M loan from fund Bankrupt builder Kara Homes Inc. wants to borrow $5 million from a hedge fund, money that the company would use to stay afloat and finish the construction of some … Continue reading →

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

“After every good party there’s a hangover”

Posted on January 10, 2007 by grim

From Inman News: Lean times for mortgage lenders foreseen in 2007 Private-label, subprime mortgage originators will have a more difficult time selling Wall Street investors risky loans in 2007, experts say, even as they face tougher underwriting and disclosure standards … Continue reading →

Posted in Risky Lending | 130 Comments

High cost of living driving Jerseyans away

Posted on January 10, 2007 by grim

From the Herald News: ‘More are leaving than coming’ Barbara Sloan last drove on a highway in 1988. But in December, she packed up her possessions and set out westbound on Interstate 80. Sloan didn’t stop — for 538 miles. … Continue reading →

Posted in Economics, New Jersey Real Estate | 9 Comments

New Jersey issues CSBS non-traditional mortgage guidance

Posted on January 9, 2007 by grim

From the New Jersey Department of Banking and Insurance: BULLETIN NO. 07-01 – GUIDANCE ON NON-TRADITIONAL MORTGAGE PRODUCT RISKS On November 14, 2006 the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) issued … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 21 Comments

Leaving Las Vegas New Jersey

Posted on January 9, 2007 by grim

From the Asbury Park Press: Exodus from New Jersey continues, mover’s data show Top destinations for people moving out of New Jersey (in number of interstate moves handled by United Van Lines): California, 844; Florida, 628; and North Carolina, 429. … Continue reading →

Posted in Economics, New Jersey Real Estate | 209 Comments

Developers angry over fees

Posted on January 9, 2007 by grim

From NJBiz: Housing Fight Gets Hotter New Jersey and builders in the state are locked in a high-stakes battle over affordable housing that is rapidly coming to a head. At issue are state regulations covering fees that builders are required … Continue reading →

Posted in New Development, New Jersey Real Estate | 3 Comments

Alpine estate sells for $58 million

Posted on January 8, 2007 by grim

From MarketWatch: Lap of luxury An English-style, Alpine, N.J., residence with guest cottages, pool and tennis courts was the most expensive home sold in the United States in 2006, the Institute for Luxury Home Marketing said Monday. The 63-acre estate, … Continue reading →

Posted in General, New Jersey Real Estate | 22 Comments

Do we no longer control our economic destiny?

Posted on January 8, 2007 by grim

From Inman News: Recession, foreign debt seen as wild cards for ’07 recovery Housing and finance experts say lower interest rates and a healthy economy could help housing markets rebound in 2007. But there’s no guarantee that a surge in … Continue reading →

Posted in Economics, Housing Bubble | 96 Comments

“Many are not so sure the long-promised reform is coming.”

Posted on January 8, 2007 by grim

From NorthJersey.com: Corzine will put tax reform at forefront in State of State Governor Corzine is gearing up to tell New Jersey that he’s done some work to cut property taxes, the highest in the nation, but he is preparing … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 17 Comments

Highlands “confusing” and “incomplete”

Posted on January 8, 2007 by grim

From the Record: Highlands plan is aired, and all sides find fault Builders are fuming about not being told where they can build. Property owners want to know if they’ll be able to develop — and how they’ll be compensated … Continue reading →

Posted in New Development, New Jersey Real Estate | 3 Comments