Monthly Archives: March 2008

“The numbers for us continue to rise”

Posted on March 31, 2008 by grim

From the Trenton Times: Singing the mortgage blues Otis Boone describes his housing problem as “a funny situation,” but stories like his have become common in Mercer County and around the country. In August 2005 he and his wife moved … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 267 Comments

Morris County not immune to slump

Posted on March 30, 2008 by grim

From the Daily Record: Morris hasn’t escaped crunch of foreclosures The Morris County Sheriff’s Office reports that the number of houses put up for auction within the first two months of this year was 40 percent higher over the same … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 6 Comments

Weekend Open Discussion – Part II

Posted on March 29, 2008 by grim

Now Open, Part II! Prior weekend thread closed due to comment overflow.

Posted in General | 248 Comments

Weekend Open Discussion

Posted on March 28, 2008 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 | 411 Comments

Aim low, sell fast

Posted on March 28, 2008 by grim

From the Star Ledger: Bid for reality Lenny Klein thinks home sellers could learn a thing or two from eBay. Nothing draws bidders quicker to an auction than a low opening bid, the real estate agent said. Setting a list … Continue reading →

Posted in New Jersey Real Estate | 5 Comments

Abandoned homes, abandoned pets

Posted on March 28, 2008 by grim

From MarketWatch: Foreclosing on Fido Call it reckless abandonment. Shelters and animal rescue organizations across the country are packed cage-to-cage with dogs and cats, even birds and reptiles, that have been ditched or dropped off as scores of foreclosed-upon homeowners … Continue reading →

Posted in Economics, National Real Estate | 2 Comments

Spring 2008 Trends – Short Sales

Posted on March 27, 2008 by grim

Source: A Realtor (R) Association Newsletter Need I say more?

Posted in New Jersey Real Estate | 39 Comments

Saddle River Lowball!

Posted on March 27, 2008 by grim

Congratulations to Mary J. Blige on her skillfully executed Saddle River Lowball! Original List Price: $17,000,000 Last List Price: $13,900,000 Sale Price: $12,300,000 (28% under original list price!) From the Daily News: Mary J. Blige pays $12M for N.J. mansion … Continue reading →

Posted in General | 389 Comments

Watchung Comp Killer

Posted on March 27, 2008 by grim

445 Johnston Court, Watchung NJ Purchase Price: $915,000 Purchased: 4/26/2006 Current Asking Price: $749,900 (Short Sale) 18% under 2006 purchase price History MLS# 2468806 Listed: 12/20/2007 Original List Price: $749,900 Days on Market: 98 Active

Posted in Comp Killer, Price Reduced | 9 Comments

Crystal Springs Comp Killer

Posted on March 27, 2008 by grim

9 Little Tarn Court, Hardyston/Hamburg NJ Purchase Price: $850,000 Purchased: 3/3/2006 Current Asking Price: $698,800 (Short Sale) 18% under 2006 purchase price History MLS# 2270030 Listed: 4/24/2006 Original List Price: $935,000 Reduced: $885,000 Days on Market: 338 Withdrawn MLS# 2390640 … Continue reading →

Posted in Comp Killer, Price Reduced | 6 Comments

Fourth Quarter GDP – Recession?

Posted on March 27, 2008 by grim

From Bloomberg: U.S. Economy Probably Expanded at Slower Pace in Fourth Quarter The deepening housing slump brought U.S. growth to a near standstill in the fourth quarter and has now probably tipped the world’s biggest economy into a recession, economists … Continue reading →

Posted in Economics, National Real Estate | 6 Comments

Have mercy on us

Posted on March 26, 2008 by grim

From the Associated Press: NJ lawmakers call for cities, towns to impose their own taxes Assembly lawmakers on Tuesday said the state should weigh allowing cities and towns to impose their own taxes as more woes were predicted for New … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 306 Comments

Livingston Comp Killer

Posted on March 26, 2008 by grim

14 Fernwood Road, Livingston NJ Purchase Price: $995,000 Purchased: 1/22/2007 Current Asking Price: $799,000 (Short Sale) 20% under 2007 purchase price History MLS# 2430585 Listed: 7/30/2007 Original List Price: $995,000 Reduced: $799,000 Days on Market: 240 Active

Posted in Comp Killer, New Jersey Real Estate, Price Reduced | 10 Comments

Consumer gloom spreading

Posted on March 26, 2008 by grim

From the NY Times: Consumer Attitudes and Home Prices Sour Americans are bracing for rising unemployment and shrinking salaries, a gloomy outlook that could translate into a serious cutback in consumer spending, the primary engine of the economy. A private … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | Comments Off on Consumer gloom spreading

New Jersey 2008 Job Market Outlook

Posted on March 25, 2008 by grim

From Screaming Frog Productions: http://www.screamingfrog.com More information about this clip can be found here: http://www.thejobtheshort.com/ Hat tip to chicagofinance for this gem.

Posted in Humor | 48 Comments