Monthly Archives: May 2007

Housing slowdown impacts relocations

Posted on May 11, 2007 by grim

From MarketWatch: Moving a mountain Convincing job candidates to relocate can be a challenge even when the housing market is strong. But with homes in many markets around the country taking longer to sell and prices either flat or declining, … Continue reading →

Posted in National Real Estate | 5 Comments

FlipTV still hot

Posted on May 11, 2007 by grim

From USA Today: Hot property on cable Reality TV is getting a strong dose of realty TV. Even as home sales and prices rapidly cool, shows that focus on selling homes — particularly for home “flippers” — remain a hot … Continue reading →

Posted in National Real Estate | 4 Comments

North Jersey April Residential Sales

Posted on May 9, 2007 by grim

Preliminary April sales and inventory 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 … Continue reading →

Posted in New Jersey Real Estate | 164 Comments

“Market is once again in a ‘wait & see’ position”

Posted on May 9, 2007 by grim

From the Otteau Valuation Group: HOUSING RECOVERY SLOWS Following 3 consecutive months of rebounding sales activity, the New Jersey housing market down-shifted in March to a slower pace raising concerns about the much anticipated spring selling season. Of particular concern … Continue reading →

Posted in Economics, New Jersey Real Estate | 45 Comments

NJ considering tighter requirements for lenders

Posted on May 9, 2007 by grim

From the Herald News: New law would boost regulation If New Jersey had already beefed up its requirements for loan officers, Manuel Maldonado might have avoided the fight to keep his Passaic home. Last year, Maldonado refinanced his house with … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | Comments Off on NJ considering tighter requirements for lenders

Home prices fall in wealthy suburbs

Posted on May 9, 2007 by grim

From Bloomberg: Home Prices Fall in Rich New York Suburbs Once Immune to Slump The U.S. housing slump has hit New York City’s richest suburbs. The average price in Westport, Connecticut, home of chief executive officers Herbert Allison of TIAA-CREF … Continue reading →

Posted in Housing Bubble, National Real Estate | 215 Comments

Americans moving out, immigrants in

Posted on May 9, 2007 by grim

From the Wall Street Journal: The Realignment of America By MICHAEL BARONE May 8, 2007; Page A19 In 1950, when I was in kindergarten in Detroit, the city had a population of (rounded off) 1,850,000. Today the latest census estimate … Continue reading →

Posted in Economics, National Real Estate | 47 Comments

Newark vs. JC

Posted on May 9, 2007 by grim

From the Jersey Journal: Newark’s rebirth is under way – will it rival Jersey City’s? Separate, though nearly identical, reports in the New York Times and the Star-Ledger this past Sunday left the impression that Newark is on the brink … Continue reading →

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

Realtors lower forecast for 2007

Posted on May 8, 2007 by grim

From CNN/Money: Home-price forecast: First ever decline Home prices are expected to finish down for the year, the National Association of Realtors (NAR) said Tuesday, which would mark the first drop since the group started tracking values in 1968. NAR … Continue reading →

Posted in Economics, National Real Estate | 110 Comments

Lenders: “Wall St. told me to do it”

Posted on May 8, 2007 by grim

From the NY Times: A Cross-Country Blame Game Visitors to Ownit Mortgage Solutions’ offices here are met by an abandoned reception desk and three dying potted plants that appear to have gone months without water. How appropriate. Ownit filed for … Continue reading →

Posted in National Real Estate, Risky Lending | 31 Comments

March home sales fall in South Jersey

Posted on May 8, 2007 by grim

From Prudential Fox & Roach: Unseasonably Cold Weather Leads to Dip in Southern New Jersey Real Estate Market Pending home sales in March fell due to continued unseasonable weather throughout the five-county Southern New Jersey region. With several winter storms … Continue reading →

Posted in New Jersey Real Estate | 10 Comments

“The housing boom was a house of cards”

Posted on May 8, 2007 by grim

From Newsday: U.S. foreclosure rate doubles in a year U.S. homeowners entered the foreclosure process last month at more than double the rate of a year ago as tightening credit made it more difficult to refinance and a swelling supply … Continue reading →

Posted in Housing Bubble, National Real Estate | 1 Comment

Seven-figure starters

Posted on May 8, 2007 by grim

From Forbes: Million-Dollar Starter Homes People buy seven-figure homes every day. But they’re usually not first-time buyers. And generally not under 30. That’s changing. Young Wall Street bankers, San Jose, Calif.- and Austin, Texas-based techies and professional athletes in Boston … Continue reading →

Posted in National Real Estate, New Development | 1 Comment

Philly condo project goes on the block

Posted on May 8, 2007 by grim

From the Philly Inquirer: Bidding opens for waterfront luxury condo site in Phila. New York auctioneer said yesterday that it would take bids for the Old City site of a proposed 33-story, 236-unit luxury condominium development that has not progressed … Continue reading →

Posted in National Real Estate, New Development | 4 Comments

Did unqualified buyers fuel the boom?

Posted on May 7, 2007 by grim

From the Associated Press: Tighter mortgage market shuns bad credit In the past, lenders didn’t want to give mortgages to people with below-average credit because it was risky, said Kathe Newman, a professor at Rutgers University in New Jersey who … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 191 Comments