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Monthly Archives: November 2009
Can we really afford home rule?
From the Daily Record: Do we really love home rule? A recent poll says residents are not as enamored with their home towns as some think. A Quinnipiac University poll asked residents if they would support merging school districts and … Continue reading
Posted in New Jersey Real Estate, Politics, Property Taxes
261 Comments
President Obama is going to pay your mortgage! (Taxpayers really, but who is counting?)
From the NYT: U.S. Will Push Mortgage Firms to Reduce More Loan Payments The Obama administration on Monday plans to announce a campaign to pressure mortgage companies to reduce payments for many more troubled homeowners, as evidence mounts that a … Continue reading
Posted in Economics, National Real Estate, Politics, Risky Lending
107 Comments
“The owners have already walked out — just given up”
From the Press of Atlantic City: Sheriff’s sales increase as housing bust continues Larry Notch may have the most difficult job at the Cape May County Sheriff’s Office. The veteran investigator is in charge of serving court papers on homeowners … Continue reading
Posted in Housing Bubble, New Jersey Real Estate
59 Comments
Black Friday Open Discussion
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
111 Comments
I’m thankful for our prudent state and local government
From the Star Ledger: N.J. budget deficit grows to $1B for current fiscal year The state today said it is facing a $1 billion hole in this year’s budget — a shortfall five times bigger than previously disclosed — and … Continue reading
Posted in New Jersey Real Estate, Politics, Property Taxes
62 Comments
NJ industrial rents fall to “lowest in a decade”
From the NY Times: Industrial Real Estate, a New Jersey Bulwark, Shows Some Cracks Over the years, as the real estate markets for offices, residences and stores in New Jersey have gone through peaks and valleys, the market for industrial … Continue reading
Posted in Economics, New Jersey Real Estate
188 Comments
October Northeast Sales Jump 25%, NY Metro Only 5%
From the NY Times: Northeast Home Sales Soar 25 Percent in October ome sales in the Northeast soared in October as first-time buyers clamored to close deals before the expiration of a federal tax credit. The nine-state region registered 85,000 … Continue reading
October Existing Home Sales
From Bloomberg: Sales of Existing U.S. Homes Probably Rose to a Two-Year High Sales of existing U.S. homes probably increased in October to the highest level in more than two years, spurred in part by a tax credit that lured … Continue reading
Posted in Economics, National Real Estate
271 Comments
Weekend Open Discussion
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
42 Comments
1 out of 7 NJ mortgages in trouble
From the Record: N.J. troubled mortgages grow to 14.5% As unemployed homeowners struggled to pay their mortgages, the percentage of New Jersey loans in foreclosure or at least a month behind on payments hit 14.5 percent in the third quarter, … Continue reading
NJ housing and economic recovery not so clear
From the Star Ledger: Economic Indicators point to an uneven housing recovery As the New Jersey real estate market tries to get its footing back, more evidence was released this week showing the terrain is uneven. New home building in … Continue reading
Posted in Economics, New Jersey Real Estate
192 Comments
“Delinquency rates are rising and expected to peak at record levels.”
From the WSJ: Mortgage-Delinquency Rate Rose to New High in 3rd Quarter Mortgage delinquencies rose for the 11th straight time to a new high in the third quarter, although the rate of increase again relaxed a bit, credit information company … Continue reading
Posted in National Real Estate, Risky Lending
287 Comments
Third time is a charm
From the WSJ: Trump Abandons Casino-Control Bid Donald Trump, whose name is synonymous with Atlantic City gambling, abandoned his bid to regain control of the three New Jersey casinos that bear his name. He and his daughter Ivanka Trump reached … Continue reading
Posted in New Jersey Real Estate
21 Comments
Passaic, Hudson Unemployment Top North Jersey
From the Record: Passaic County jobless rate hit 11.7% in Sept. Passaic County’s unemployment rate of 11.7 percent in September was the highest in New Jersey, and the second highest in the New York area, federal figures released Monday show. … Continue reading
Posted in Economics, New Jersey Real Estate
210 Comments
“If it wasn’t going to happen here, I wonder if it’s going to happen anywhere”
From the Daily Record: Getting together in the Chesters? A bit of New Jersey history has a chance to be made in Chester Borough and Chester Township. If all goes according to plan, residents in both towns will vote next … Continue reading
Posted in Economics, New Jersey Real Estate, Politics
166 Comments