Monthly Archives: May 2008

Comp Killer!

Posted on May 30, 2008 by grim

John St, Ridgewood NJ Purchased: 6/30/2006 Purchase Price: $795,000 Current Asking Price: $745,000 MLS# 2819679 Listed: 5/13/2008 List Price: $769,000 Reduced to: $745,000 Active ———————————– Jerome Ave, Glen Rock NJ Purchased: 11/7/2005 Purchase Price: $520,000 Current Asking Price: $479,000 MLS# … Continue reading →

Posted in Comp Killer, Lowball, New Jersey Real Estate | 430 Comments

No title needed

Posted on May 29, 2008 by grim

From the Economist: Through the floor America’s house prices are falling even faster than during the Great Depression

Posted in General | 69 Comments

Pointing fingers

Posted on May 29, 2008 by grim

From the Wall Street Journal: Lessons From the Housing Bubble By DAVID WESSEL May 29, 2008 Before we replace angst about housing, mortgages and credit markets with anxiety about rising oil prices, consider what we’ve learned in the past several … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 200 Comments

New Jersey Home Price Indexes

Posted on May 27, 2008 by grim

Enjoy! (click to enlarge) Notes: OFHEO HPI and Purchase Only Index are both quarterly state-level series. S&P Case Shiller Index is a monthly series and is based on the NYC Commutable Metro Area. This index includes areas outside of New … Continue reading →

Posted in Economics, New Jersey Real Estate | 265 Comments

April New Home Sales and March Home Prices

Posted on May 27, 2008 by grim

From Bloomberg: S&P/Case-Shiller U.S. Home-Price Index Falls 14.4% Home prices in 20 U.S. metropolitan areas fell in March by the most in at least seven years, pointing to weakness in the housing market that will constrain economic growth. The S&P/Case-Shiller … Continue reading →

Posted in National Real Estate, New Development | 221 Comments

Weekend Open Discussion – Part II

Posted on May 25, 2008 by grim

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

Posted in General | 122 Comments

Weekend Open Discussion

Posted on May 23, 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 | 306 Comments

Realtors begin to doubt NAR statistical reports

Posted on May 22, 2008 by grim

From the Press of Atlantic City: Real estate agents debate local statistics The latest positive numbers for home sales and prices have divided real estate agents, ordinarily a group uniformly upbeat about the housing market. Some doubt the numbers, even … Continue reading →

Posted in General | 227 Comments

Downpayments in style again

Posted on May 22, 2008 by grim

From Reuters: Housing Crunch: Return of the Big Downpayment As U.S. banks mop up the mess from billions of dollars of bad home loans, buyers are finding the days of cheap money are over and, in many cases, tougher versions … Continue reading →

Posted in General | 1 Comment

“We’re no longer the economic locomotive of the Northeast.”

Posted on May 21, 2008 by grim

From the Press of Atlantic City: Something funny in economy Here’s a new economic indicator: The more jokes about economists, the worse the outlook. James Hughes repeatedly lightened his speech Tuesday to the Mid-Atlantic Multifamily Conference & Expo, but those … Continue reading →

Posted in Economics, New Jersey Real Estate | 306 Comments

Defying the downturn

Posted on May 20, 2008 by grim

From the Wall Street Journal: Where Home Prices Are Holding Up By JEFF D. OPDYKE May 20, 2008; Page D1 Downtown: It’s been among the safest places to hide from the housing downturn. Much has been made of the way … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 320 Comments

Abusing farmland assessment

Posted on May 20, 2008 by grim

From the APP: Pennacchio: Block “gentlemen farmers” from property tax break U.S. Senate candidate Joseph Pennacchio Monday criticized Republican opponent Dick Zimmer for making use of a property tax break by selling hay from his Hunterdon County home. Pennacchio pledged … Continue reading →

Posted in General | 8 Comments

REO re-enters the public lexicon

Posted on May 19, 2008 by grim

From the Record: Houses owned by banks may be bargains Vincent and Kerri Bagnaturo had been looking to trade up to a bigger place in Ridgewood for almost two years when they came upon the house they felt was the … Continue reading →

Posted in General | 343 Comments

Weekend Open Discussion II

Posted on May 17, 2008 by grim

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

Posted in General | 205 Comments

Weekend Open Discussion

Posted on May 16, 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 | 417 Comments