Monthly Archives: February 2007

Residents concerned about revaluations

Posted on February 15, 2007 by grim

From the Asbury Park Press: When assessed values soar, residents head to Red Bank meeting They came with assessment letters in hand, looking for guidance and some reassurance that their already painfully high tax bills wouldn’t go up. Mayor Pasquale … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 10 Comments

Off the mark

Posted on February 14, 2007 by grim

From the Wall Street Journal: How Good Are Zillow’s Estimates? In the year since its launch, Zillow Inc. has made millions of Americans familiar with computer-generated estimates of home values, created a new online addiction and become a staple of … Continue reading →

Posted in General | 22 Comments

It’s a good time to pay a commission

Posted on February 14, 2007 by grim

From the Press of Atlantic City: Coast is clear, O.C. Realtors tell TV viewers The feminine voice is as warm as May sunshine with a gentle tone that could reassure even the most skittish investor. “Now is the time to … Continue reading →

Posted in New Jersey Real Estate | 172 Comments

“The question now is ‘How far will prices fall?’ ”

Posted on February 14, 2007 by grim

From Westchester.com: Prudential Rand Predicts Hudson Valley Home Prices Will Rebound Home prices in Westchester, Rockland and Orange counties are likely to bottom out amidst strong sales this spring, with values plateauing and possibly slowly rising by the end of … Continue reading →

Posted in National Real Estate | 9 Comments

Center City prices drop

Posted on February 14, 2007 by grim

From the Philly Inquirer: Real estate prices fall in Center City Center City residential real estate prices fell 2.8 percent in 2006 to a median $362,000, but two areas – Rittenhouse Square and the Avenue of the Arts – saw … Continue reading →

Posted in National Real Estate | 2 Comments

“Beware the siren song”

Posted on February 14, 2007 by grim

From the Asbury Park Press: High-density development just another term for urban sprawl Expect to hear a lot from developers about how high-density residential and commercial development will save New Jersey from high-density residential and commercial development. How is this … Continue reading →

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

Dropping the t-bomb on Teaneck

Posted on February 13, 2007 by grim

From the Record: Teaneck’s seismic tax shift Homeowners in Teaneck’s most modest neighborhoods stand to absorb the biggest tax increases this year while those in wealthier areas will get a break as a result of updates to the property tax … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 141 Comments

“It may only be the beginning of a fire sale.”

Posted on February 13, 2007 by grim

From the Press of Atlantic City: Higher property taxes, more for-sale signs in Villas Bernie Pomykacz moved to the Villas section of the township in 1987 when he could no longer afford to live in Cape May. Pomykacz, 74, a … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 19 Comments

Lehigh Valley home sales down 16% in January

Posted on February 13, 2007 by grim

From the Morning Call: Lehigh Valley’s housing market no longer white-hot The number of homes sold in the Lehigh Valley continued to fall last month, the rate of home appreciation slowed to 1 percent from the year before, and homes … Continue reading →

Posted in National Real Estate | Comments Off on Lehigh Valley home sales down 16% in January

Price declines predicted for ’07

Posted on February 12, 2007 by grim

From the Record: Skyrocketing prices come back to earth John and Susan Scerbo put their five-bedroom Ramsey house on the market more than a year ago, expecting to sell within a few months. But the house is still for sale, … Continue reading →

Posted in Economics, New Jersey Real Estate | 177 Comments

Eminent domain for affordable housing?

Posted on February 12, 2007 by grim

From the Asbury Park Press: Jackson may take land for housing Some 80 years ago, Roger Gilbert’s great-grandmother won a small piece of land in this township as a door prize from a New York City theater. Since then, the … Continue reading →

Posted in New Development, New Jersey Real Estate | 7 Comments

“The last time I saw it this bad was in the early 1990s”

Posted on February 12, 2007 by grim

From the NY Daily News: Foreclosures in city jump 18% The number of city foreclosures jumped 18% in the last half of 2006 – with as many as 100 homes going on the block each week in both Brooklyn and … Continue reading →

Posted in National Real Estate, Risky Lending | 2 Comments

Housing construction slumps statewide

Posted on February 12, 2007 by grim

From the Record: Highlands cools off as new housing hot spot Finding a new home in the Highlands may get a bit harder. Town houses and condominiums are going up and are for sale near major highways. But the pace … Continue reading →

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

Weekend Open Discussion

Posted on February 11, 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 | 218 Comments

Overwhelming faith in the value of homes

Posted on February 11, 2007 by grim

From the Record: Oil, jobs, health costs leave us worried about economy There may be a booming stock market and a relatively strong economy, but your neighbors are feeling uncertain about what lies ahead, The Record’s annual economic poll has … Continue reading →

Posted in Economics, New Jersey Real Estate | 14 Comments