Monthly Archives: February 2010

Snowmageddon Open Discussion

Posted on February 26, 2010 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 | 772 Comments

What Recovery? New Home Sales Dive.

Posted on February 25, 2010 by grim

From the Wall Street Journal: New Home Sales Plunge to ’63 Levels Sales of new single-family homes plunged last month, underscoring the fragility in the housing market. Sales dropped 11.2% in January from a month earlier to a seasonally adjusted … Continue reading →

Posted in National Real Estate, New Development | 431 Comments

NY metro home prices fell 6.3% in December

Posted on February 24, 2010 by grim

From the Star Ledger: Home prices still fall in the N.Y. region Housing prices in the New York metropolitan area dropped for the fourth consecutive month in December, according to data released today. Nationwide, prices in the 20 cities that … Continue reading →

Posted in Economics, National Real Estate, New Jersey Real Estate | 461 Comments

Shore rentals in demand for the Summer of ’10

Posted on February 23, 2010 by grim

From the NY Daily News: Want to roll in Snooki’s sheets? ‘Jersey Shore’s’ Seaside Heights, N.J., house is $1,800 a night How about a roll in Snooki’s sheets? For $1,800 a night, you can grace the ground zero of Guido … Continue reading →

Posted in Humor | 507 Comments

Suck it up, sellers.

Posted on February 22, 2010 by grim

From the NY Times: Dry Your Eyes and Lower the Price NEVER in all his 17 years selling real estate has Mark Seiden gone through as many boxes of tissues as he has in the past 12 months. It’s not … Continue reading →

Posted in Economics, National Real Estate | 1,368 Comments

Weekend Open Discussion

Posted on February 20, 2010 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 | 504 Comments

“I’m not going to spend this state further into debt and I’m not going to tell you a happy story…”

Posted on February 19, 2010 by grim

From the Star Ledger: Gov. Chris Christie warns N.J. districts school aid could be cut 15 percent in next budget With school districts still reeling from the midyear budget cuts he announced last week, Gov. Chris Christie said today he … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 619 Comments

Four year recovery?

Posted on February 18, 2010 by grim

From the Star Ledger: Rutgers report: job loss recovery will take at least 4 years With the recession in the rearview mirror, this decade will be known as the Great Reckoning as the economy tries to recover from massive job … Continue reading →

Posted in Economics, New Jersey Real Estate | 520 Comments

A closer look inside short sales

Posted on February 17, 2010 by grim

From the Star Ledger: The long and short of short-selling homes But Goldie Sommer, a real estate attorney and agent, said there is no reason why anyone can’t navigate a short sale. Sommer, a principal at Fairfield-based Sommer and Engelhart, … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 453 Comments

Tuesday Open Discussion

Posted on February 16, 2010 by grim

Open discussion, flying down to Nashville this morning. You know the drill, keep it clean.

Posted in General | 450 Comments

Paying homeowners to stay homeowners

Posted on February 15, 2010 by grim

From Default Servicing News: Company Proposes Paying Homeowners Not to Walk Away With tumbling property values leaving nearly a quarter of borrowers owing more on their mortgage than the home is worth, some may find it tempting to walk away … Continue reading →

Posted in Economics, National Real Estate | 417 Comments

Property tax rebate fraud? I’m shocked!

Posted on February 13, 2010 by grim

From the AP: Audit exposes NJ property tax program flaws Lax oversight, confusing rules and potential fraud have combined to cost New Jersey millions each year in rebates and tax deductions given to homeowners who may not qualify for them, … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 735 Comments

New Jersey Q4 Home Sales Up, Prices Down

Posted on February 12, 2010 by grim

From the Record: North Jersey home prices down 5.5% in fourth quarter 2009, to median $434,000 The housing market’s steep price slide appears to be slowing, according to data released Thursday by the National Association of Realtors. The median price … Continue reading →

Posted in Economics, New Jersey Real Estate | 434 Comments

Citi offers cash for keys

Posted on February 11, 2010 by grim

From the WSJ: Citi Pushes Foreclosure Alternative Mortgage lenders are trying to arrange smoother departures for distressed homeowners who can’t be saved by loan modifications–and discourage them from trashing the homes on their way out. CitiMortgage, a unit of Citigroup … Continue reading →

Posted in Housing Bubble, National Real Estate | 680 Comments

Out of the factories and onto the roadways, we’re all pavers now.

Posted on February 10, 2010 by grim

From NJBiz: Report: N.J. industrial jobs down 6.4 percent since recession start Manufacturers’ News Inc. released a report Tuesday showing industrial jobs have shrunk by 6.4 percent in the Garden State since the start of the recession. The 2010 New … Continue reading →

Posted in Economics | 507 Comments