Monthly Archives: August 2008

Weekend Open Discussion

Posted on August 29, 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 | 457 Comments

“[P]eople have to be realistic to expect what to sell their house for.”

Posted on August 28, 2008 by grim

From the Central Jersey Register News: Expert: Housing woes may last through late ‘09 The local housing market has followed its expected downward course this year, and predictions it would begin to recover about this time have proved overly optimistic. … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 168 Comments

NY Metro Area Home Prices down 7.3% YOY

Posted on August 27, 2008 by grim

From the AP: S&P: Home prices drop by record amount in 2Q A widely watched index released Tuesday showed home prices dropping by the sharpest rate ever in the second quarter, but the data for June suggest the severity of … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 125 Comments

Realtors: Passaic is Prime!

Posted on August 25, 2008 by grim

From BusinessWeek: Home sales, prices mostly fall in Northeast Homes sales tumbled in most big Northeastern cities last month — with only Passaic, N.J., showing a healthy jump in activity — while sales of distressed properties dragged down median prices … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 263 Comments

July Existing Home Sales

Posted on August 25, 2008 by grim

From the WSJ: Home-Price Watchers Hope Drop Slows By MAYA JACKSON RANDALL August 25, 2008; Page A2 This week’s housing-market data won’t erase the souring situation surrounding Fannie Mae and Freddie Mac, but there still might be a way to … Continue reading →

Posted in Economics, National Real Estate | 303 Comments

“You just can’t afford to stay in this house”

Posted on August 24, 2008 by grim

From the Record: In North Jersey foreclosures are up, home sales down In a painful sign of the worsening real estate downturn, foreclosure actions in North Jersey nearly tripled in the first five months of 2008 over the same period … Continue reading →

Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 29 Comments

Weekend Open Discussion

Posted on August 22, 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 | 458 Comments

I.O.U.S.A. Screening Tonite!

Posted on August 21, 2008 by grim

Tonight @ 8pm! The long awaited I.O.U.S.A. Screening Get Together. AMC Clifton Commons 16 405 Route 3 East Clifton, NJ 07014 We’re going to be meeting up at the Shannon Rose (in the same complex, across from the Target) at … Continue reading →

Posted in General | 309 Comments

Why save the housing market?

Posted on August 20, 2008 by grim

From the New York Times: No End in Sight A year into the financial crisis, the news is grim and there are signs of even worse troubles ahead. The mortgage bust continues and has begun to spread to loans for … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 205 Comments

NJ: “lurching from crisis to crisis”

Posted on August 19, 2008 by grim

Don’t forget to buy your tickets for the I.O.U.S.A. Screening GTG Thursday, August 21st at 8:00pm AMC Clifton Commons 16 405 Route 3 East Clifton, NJ 07014 Tickets can be purchased online, click here. —————————- From the NY Post: JERSEY: … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 328 Comments

The 100-Year Storm

Posted on August 18, 2008 by grim

From Barrons: The Endgame Nears For Fannie and Freddie IT MAY BE CURTAINS SOON FOR THE MANAGEMENTS and shareholders of beleaguered housing giants Fannie Mae and Freddie Mac . It is growing increasingly likely that the Treasury will recapitalize Fannie … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 246 Comments

Weekend Open Discussion

Posted on August 15, 2008 by grim

Don’t forget to buy your tickets for the I.O.U.S.A. Screening GTG Thursday, August 21st at 8:00pm AMC Clifton Commons 16 405 Route 3 East Clifton, NJ 07014 Tickets can be purchased online, click here. —————————- This is the time and … Continue reading →

Posted in General | 363 Comments

Q2 Home Prices Down 7.6%, Sales Down 16.3%

Posted on August 14, 2008 by grim

From the National Association of Realtors: Metro Area Home Prices From Bloomberg: U.S. Home Sales Fall to 10-Year Low as Prices Tumble Existing U.S. home sales fell to a 10- year low in the second quarter and the median price … Continue reading →

Posted in General | 51 Comments

July Foreclosures up 55%

Posted on August 14, 2008 by grim

From Bloomberg: U.S. Foreclosures Increase 55%, Bank Seizures Rise to Record Bank repossessions almost tripled in July and U.S. foreclosure filings increased 55 percent from a year earlier as falling prices cut homeowner equity, accelerating the housing decline, RealtyTrac Inc. … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 297 Comments

Standoff during Bergen Co. eviction

Posted on August 13, 2008 by grim

From the Record: Gunman surrenders after standoff The son of a 88-year-old Saddle Brook woman whose house had been sold at foreclosure was arrested after pulling a gun on sheriff’s officers this morning. Two Bergen County sheriff’s officers eventually talked … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 219 Comments