Monthly Archives: December 2009

Buyer Commission Rebates Coming to NJ?

From the Star Ledger: Law under consideration would let brokers pay real estate clients Soon your realtor could be paying you. It’s illegal right now, but pending legislation would allow realtors and real estate brokers to pay home-buyers a portion … Continue reading

Posted in New Jersey Real Estate | 294 Comments

The “worst state in America for businesses and taxpayers”

From the Press of Atlantic City: Bottom Lines: List ranks New Jersey the worst for business, again New Jersey has missed its last chance this year to be something other than the worst state in America for businesses and taxpayers. … Continue reading

Posted in Economics | 205 Comments

Willing to pay for it

From the NYT: The Hottest Topic in Home Sales RESIDENTIAL property taxes: Could there be a more potent issue for real estate right now in New Jersey? Polls indicated that voter concern over high taxes — New Jerseyans pay the … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 163 Comments

“everyone else was crossing the finish line while I was still putting on my sneakers.”

From the WSJ: Confessions of an Underwater Homeowner One in four Americans is underwater on a mortgage. Count me among them. My family’s modest, suburban New Jersey house is now worth about $30,000 less than our current balance. We never … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 141 Comments

The New American Dream

From the WSJ: American Dream 2: Default, Then Rent Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez misses the custom putting green he installed in his backyard. But ever since … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 206 Comments

On track for a 3.9 million year

From Bloomberg: U.S. Foreclosures to Reach 3.9 Million in Second Record Year Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said. This year’s … Continue reading

Posted in Economics, Foreclosures, National Real Estate | 231 Comments

NJ homeowners sinking, but not drowning

From the Daily Record: Report: 1 in 7 N.J. homeowners owe more than property is worth Nearly one in seven New Jersey homeowners owe more on their mortgage than their property is worth, according to a recently released nationwide study. … Continue reading

Posted in Economics, New Jersey Real Estate | 176 Comments

Another day, another stimulus

From the NY Times: Obama Announces New Jobs Programs President Obama on Tuesday will announce three proposals intended to turn around the nation’s beleaguered job market, including strengthening investments to small businesses that have struggled to expand because of the … Continue reading

Posted in Economics, National Real Estate, Politics | 133 Comments

“Few bright spots”

From the Star Ledger: Home prices, sales decline There are a few bright spots but by and large Somerset and Hunterdon counties — much like the rest of the state — were not spared from falling home prices and decreasing … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 223 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 | 279 Comments

December Beige Book

From the Federal Reserve: Summary of Commentary on Current Economic Conditions (Beige Book) – December 2009 Second District–New York The Second District’s economy has shown further signs of improvement since the last report, though the labor market remains soft. There … Continue reading

Posted in Economics, New Jersey Real Estate | 395 Comments

“The gravy train continues to roll”

From the Star Ledger: N.J. investigations unit reports huge payouts by local government They receive paid days off for Christmas shopping, donating blood and weddings. And when these public employees retire, they can cash in tens of thousands of dollars … Continue reading

Posted in Politics, Property Taxes | 220 Comments

“My new goal is to become a manager at Lowe’s”

From the WSJ: Working Two Jobs and Still Underemployed For Richard Crane, the “new normal” in the labor market began when he was laid off from a New Jersey battery plant in the summer of 2006. Mr. Crane had been … Continue reading

Posted in Economics | 231 Comments