Monthly Archives: November 2007

Can Trump save Encap?

Posted on November 8, 2007 by grim

From the Jersey Journal: Trump takes over golf, housing plan for Meadowlands Real estate developer and casino boss Donald Trump said yesterday he has inked a deal to rescue the troubled EnCap development project in the Meadowlands. Trump will now … Continue reading →

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

“If you really want to sell your house, you have to cut deep”

Posted on November 7, 2007 by grim

From the WSJ: GETTING GOING By JONATHAN CLEMENTS Dump This House: Unloading Your Property in a Slow Market November 7, 2007 It could be the kindest cut of all. Look at the prices of homes getting sold, and the property … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 312 Comments

Otteau November Newsletter

Posted on November 7, 2007 by grim

From the Otteau Valuation Group HOUSING MARKET WEAKENS DESPITE STABILIZED INVENTORY The New Jersey housing market took a turn for the worse in September as contract-sales activity fell for the 3rd consecutive month to the lowest level of the year. … Continue reading →

Posted in New Jersey Real Estate | 51 Comments

Enough with the borrowing!

Posted on November 7, 2007 by grim

From nj.com: Voters to Trenton: Slow down on spending New Jersey voters may have allowed Democrats to retain control of the state Legislature in Tuesday’s elections, but they are sending them back to Trenton with a clear message: slow down … Continue reading →

Posted in Politics | Comments Off on Enough with the borrowing!

Trump to take over Encap?

Posted on November 7, 2007 by grim

From the Record: Trump may rescue Encap project Real estate developer Donald Trump is in serious negotiations to take over the beleaguered Meadowlands EnCap golf and housing project, according to three sources familiar with the talks between Trump’s group and … Continue reading →

Posted in New Development, New Jersey Real Estate | Comments Off on Trump to take over Encap?

Vote early and vote often!

Posted on November 6, 2007 by grim

From NJ.com: NJ votes today on Legislature, state borrowing The future of stem cell research in the state and the makeup of the Legislature for the next two years will be decided by New Jersey’s voters today, Election Day 2007. … Continue reading →

Posted in General, Politics | 246 Comments

Taxing time for NJ home sales

Posted on November 6, 2007 by grim

From the Herald News: Bill lets towns tax sale of homes As the housing market goes ice cold, local homeowners finding few bites on their “For Sale” signs could face a new obstacle — hundreds of dollars in additional taxes … Continue reading →

Posted in New Jersey Real Estate, Politics | 1 Comment

Risky lending slows nationwide

Posted on November 6, 2007 by grim

From the Wall Street Journal: Lenders to Home Buyers Tighten Further Stricter Rules Hit Borrowers With Good or Bad Credit; Higher Costs for Businesses By SUDEEP REDDY November 6, 2007; Page A2 More banks are tightening lending standards for home … Continue reading →

Posted in National Real Estate, Risky Lending | 1 Comment

North Jersey October Residential Sales

Posted on November 4, 2007 by grim

Preliminary October sales and inventory data for Northern New Jersey is in. Please note that this data is subject to revision. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound … Continue reading →

Posted in New Jersey Real Estate | 260 Comments

Weekend Open Discussion

Posted on November 4, 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 market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

Posted in General | 548 Comments

“Everything’s a function of price”

Posted on November 2, 2007 by grim

From the Philadelphia Daily News: N.J. appraiser finds ‘test pricing’ doesn’t work Realtors often warn sellers about the danger of overpricing a house. Now they have evidence to show skeptical clients: research by Jeffrey Otteau, a New Jersey appraiser. Otteau … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 2 Comments

Hit the number

Posted on November 2, 2007 by grim

From the NY Times: New York Says Appraiser Inflated Value of Homes The New York attorney general, Andrew M. Cuomo, accused an appraisal company yesterday of inflating the value of homes under pressure from Washington Mutual, one of the nation’s … Continue reading →

Posted in National Real Estate, Risky Lending | Comments Off on Hit the number

Q3 Foreclosures up 99.5%

Posted on November 1, 2007 by grim

From Bloomberg: U.S. Home Foreclosures Doubled in the Third Quarter U.S. home foreclosures doubled in the third quarter from a year earlier as subprime borrowers failed to make higher payments on adjustable-rate mortgages, RealtyTrac Inc. said. There were 635,159 foreclosure … Continue reading →

Posted in Housing Bubble, National Real Estate | 304 Comments

Housing slump hits NJ housing distributor

Posted on November 1, 2007 by grim

From the Record: Flooring company lays off 120 About 120 people were fired this week from Wayne-based Hoboken Wood Flooring LLC, the country’s largest independent distributor of hard-surface flooring, as the company takes steps to close after 77 years. Termination … Continue reading →

Posted in Economics, New Jersey Real Estate | 1 Comment