From the NY Times:
A Low Tide for Home Sales in the Shoreline Market
FOR the shoreline real estate market, by unvarying tradition, spring arrives early. Sometime in mid-January, in all four coastal counties — Monmouth, Ocean, Atlantic and Cape May — the number of listings begins to swell and rises in small waves, usually reaching a peak by early April.
So far this year that pattern remains unbroken, according to brokers selling homes in the shore counties.
Price trends, on the other hand, appear to be breaking in unusual directions. A look at sales statistics from the last two years indicates that towns on beaches are doing less well than their counties-at-large, according to Jeffrey G. Otteau, the president of the Otteau Valuation Group in New Brunswick.
In one sense, this flouts Realtor wisdom, as proximity to water ordinarily translates unambiguously to premium prices. But economic uncertainty changes things, Mr. Otteau said. “People are more conservative about how much they will spend for a house, and especially a second house, if that is what they are looking to buy,” he said.
In Belmar, a beach community with 6,000 year-round residents, the median sales price in 2010 represented a 4.3 percent decline from 2009. It was $400,000, down from $418,000. Yet in Monmouth County, where Belmar is situated, the median price over that same period rose by 2 percent.
…
If you look at the average sales price disparity in this instance, it was even greater. Belmar’s was down by 15.1 percent, and Monmouth’s was up by 3 percent.In 2007, when redevelopment of Belmar’s beachfront began, the median price reached a high of $456,000.
“For several years after that there was pricing arrogance in Belmar,” said Brian Church, a broker for Ward Wight Sotheby’s International Realty. “They had done a great job of improving their profile. But then sellers got a little cocky with pricing and it took a while for prices to come back down.”
Mr. Church said that many buyers “voted with their feet,” seeking lower-priced homes in nearby communities like Avon, Ocean Grove and Bradley Beach — until sellers in Belmar started to become more realistic about asking prices.
…
In Ocean County, where the median price did not change appreciably in 2010, it was down 7.56 percent in Seaside Heights, the honky-tonk beachfront town that is the film site for the TV reality show “Jersey Shore.” The most expensive house sold in Seaside last year went for $607,500; the median sales price was $220,000.In Point Pleasant Beach, another popular Ocean County community, the median essentially stayed the same — $522,000 — but there were 17 percent fewer sales than in the previous year.
Down in Atlantic County the Atlantic City housing market, mostly condominiums, continued its rapid deterioration; the median price was down 20.1 percent, to $147,350. In more neighborhood-oriented Brigantine, by contrast, the price dipped 3.5 percent, to $308,500. Atlantic County’s median stayed flat, at $206,144.
In the southernmost county, Cape May, North Wildwood was one of the strongest markets. Indeed, it outdid the county, but not in very impressive style. Its median price declined by 0.3 percent; the county’s fell by 3 percent.
From GlobeSt:
Alcatel-Lucent Campus Sells to Vision, Rubenstein JV
A partnership of Vision Equities and Rubenstein Partners has acquired the 194-acre Alcatel-Lucent corporate campus for an undisclosed sum, with the intention of redeveloping the complex into a mixed-use complex. Plans call for the development of class A office, residential, retail, hospitality, senior living and additional common/green space. Two office and lab buildings, totaling approximately 500,000 square feet, are being considered for renovation and reuse.
“This property is one of the last large-scale, mixed-use redevelopment sites left within the Route 10, Route 24 and I-280 submarkets, and is one of the biggest redevelopment sites remaining in Northern New Jersey,” says David Bernhaut of Cushman & Wakefield’s Metropolitan Area Capital Markets group in East Rutherford, NJ. The firm represented the seller and procured the buyer. “It benefits from its proximity to the area’s premier retail corridor, major roadways, nearby corporate headquarters and office parks; existing site infrastructure; and a township seeking to maintain a strong ratable base.”
Located at 67 Whippany Rd., the former corporate campus for Alcatel-Lucent includes 15 vacant office, laboratory and support buildings totaling more than 1.4 million square feet. Alcatel-Lucent predecessor companies began operating at the site in the mid 1920s, and it continued to house significant operations until 2001, when Alcatel-Lucent relocated 2,100 employees to its North American headquarters in Murray Hill, NJ.
Good Morning New Jersey
Fannie & Freddie need more more please help. Thank You
North Mountain Ave? Stu..Gator..? Say it ain’t so! One of the most desirable streets in Montclair!
From the Star Ledger:
Police arrest 2 men in Montclair after finding heroin, marijuana in raid
Two township men face narcotics charges following a raid that turned up both heroin and marijuana, police said.
Adel Howard, 23, and Kyle Harris, 22, were arrested after detectives found 35 packets of heroin, 57 bags of marijuana and digital scales in a North Mountain Avenue residence Wednesday night, police said. They also said a box of .38 caliber ammunition was found, but no firearm was located.
Both men were charged with possession of a controlled dangerous substance and related distribution counts, including being within 1,000 feet of a school — Montclair Kimberley Academy — and within 500 feet of the public Van Vleck House & Gardens.
From the AP:
Fannie, Freddie narrow losses but seek more aid
Government-controlled mortgage buyers Fannie Mae and Freddie Mac narrowed their losses in the final three months of last year. But they are asking for more money from taxpayers as the real estate market braces for what could be a new wave of mortgage defaults.
Fannie Mae on Thursday posted a loss of $2.1 billion for the October-December quarter, after payment of $2.15 billion in dividends to preferred stock that is mostly owned by the federal government. It has requested an additional $2.6 billion in federal aid, slightly more than the $2.5 billion it sought in the previous quarter.
Freddie Mac managed a $1.7 billion loss for the final quarter of last year, after the payment of $1.6 billion in preferred dividends. It has asked for an additional $500 million in federal aid — up from the $100 million it sought in the July-September quarter of 2010.
Both companies narrowed their losses from 2009’s final quarter, when Fannie Mae reported a shortfall of $16.3 billion and Freddie Mac lost $7.8 billion.
Fannie Mae also reported a $21.7 billion loss for all of 2010, narrowed from a loss of $74.4 billion the year before.
Freddie Mac’s loss last year was $19.8 billion, compared with a $25.7 billion loss in 2009.
“The good news is that their losses are shrinking,” said Anthony Sanders, a professor of real estate finance at George Mason University in Fairfax, Va.
The bad news? “This is just the calm before the storm. … They’re going to be hit with some staggering losses,” Sanders said.
The continuing erosion of the housing market, and a coming wave of foreclosures that had been put on hold because of widespread problems with lenders’ documents, could bring significant losses for Fannie and Freddie in the near future, Sanders said.
That could help explain why the companies asked for more federal aid even as their losses shrank. Sanders suggested that they could be seeking the help in anticipation of future travails, knowing “what’s around the corner.”
And for all of you that have been wondering about Nancy Kissel…
http://www.bloomberg.com/news/2011-02-25/nancy-kissel-s-retrial-for-murder-is-adjourned-after-her-outburst-in-court.html
This couldn’t Be true for sea girt, spring lake, or squan
Coast the Deftones are going to be at Starland!?, may have to make a trip down outside of fishing season.
Saw them at the stone pony opening up for Korn in 1996 have been a fan ever since
I think the shore towns will get hit harder this time then when the last bubble burst in the late 80’s and early 90’s. There were a lot of condos built or motels converted to condos in the 2000’s. There seems to be hundreds of foreclosure listings in Ocean City alone, some condos reselling for 40% off or more from the last sale, some even going for 70% off.
Heroin in Montclair? Sure! I grew up near Princeton, and some of the kids in that town had way too much spending money, with too little supervision. Heroin use was higher there than in Lawrence where I lived (well, I knew some kids from Lawrenceville School, and the same applied there).
Bummer can’t even watch “Two and a Half Men”, anymore. Just when society really needs light escapism, they eliminate it.
From Australia’s high cost of living.
http://www.smh.com.au/business/tax-homes-and-control-mine-boom-ceos-urge-20110225-1b8kh.html
“Capital-gains-tax free on housing is poor policy because fundamentally it over encourages people to invest in their home,” Dr McNamee said.
I went beach house hunting in 1991 through the Resolution Trust Company, the Jersey Shore and Cheap parts of Hamptons like Hampton Bays they were giving away hours. Only thing that held up was Southhampton, EastHampton etc. The real rich pay cash for summer homes and are properly diversified and they don’t default or firesale. Hampton Bays all had a lot of cops/fireman guys who bought 10% down rental summer homes to get rich in the RE bubble of 1986-1988 and they all lost the homes.
safe as houses says:
February 25, 2011 at 8:13 am
I think the shore towns will get hit harder this time then when the last bubble burst in the late 80′s and early 90′s. There were a lot of condos built or motels converted to condos in the 2000′s. There seems to be hundreds of foreclosure listings in Ocean City alone, some condos reselling for 40% off or more from the last sale, some even going for 70% off.
Essex when you come back for the reunion I want to show
You how well the reassignment surgey went. We can do it like the old times
Put on a Flock of Seagulls and slowly dance on the 50 yard line, and then
Off to the bleachers for some rrrrrrooooowwww!
If D’Jais brought back 5 for $1 and Holme, prices would rise in Belmar.
some condos reselling for 40% off or more from the last sale, some even going for 70% off.
Safe/ board – maybe time for potential investment unit or still a bit premature?
btw im still laughing from this one…
safe as houses says:
February 24, 2011 at 8:21 am
Gadaffi looks like Emeril after a 10 day bender.
JJ, you didn’t really try to say you played D1 basketball yesterday, did you?
We all know you’re in dreamland 24/7 when it comes to life, sports and women (i’ll still listen to your market calls, though), but this might be your funniest tale yet.
Q4 GDP disappoints, revised down to 2.8, from the 3.2 preliminary estimate. Consensus forecast was for an upward revision to 3.3.
Isn’t “Montclair Kimberley Academy” the name for the 30K per annum private tax Montclair residents have to pay to send their kids to a decent high school?
JJ-
Please explain the basketball anecdote from yesterday. R U claiming u were on the stony brook roster?
Re: GDP – FRED SAID EVEN A MINOR SPENDING CUT OFF 60,000,000,000 ANNA GUNN REVIS ECP NUMBERS DOWN FOR A BIT
The fed said even a minor spending cut from congress of 60,000,000,000 and they’re going to revise gdp numbers way down
Using google voice post It doesn’t always get it right
“Q4 GDP disappoints, revised down to 2.8, from the 3.2 preliminary estimate. Consensus forecast was for an upward revision to 3.3.”
Inflation will goose it going forward.
“Please explain the basketball anecdote from yesterday.”
JJ’s closest sniff to D1 basketball was assisiting the bouncers, dragging Chris Mullin to his upstairs cot at McAnn’s.
Was at Spurs/Bulls in Chitown last week, Rose was on fire.
Pat…chill ‘nkay?
Kluck U Wildcat says:
February 25, 2011 at 8:36 am
Essex when you come back for the reunion I want to show
You how well the reassignment surgey went. We can do it like the old times
Put on a Flock of Seagulls and slowly dance on the 50 yard line, and then
Off to the bleachers for some rrrrrrooooowwww!
First of all Stony Brook was a div 3 non scholorship team when I went there. Secondly the team sucked and you played for free. We had a lot of good ball players there but they were all on the Quad teams, Like James D2, Irving, D1, etc. I lived on the floor with all the tall guys, at six foot two 18 years I was shortest on team. Heck some guy named of all names Dickman, had several BB scholorships, but did engineering and no school with that offered him a scholorship. He did not want to play on the SB team. Anyhow the only game I am talking is the intramural championship game which as only game played on full court at SB with people in stands. That game was crowded as nearly every mans hall had a team. That game had like 1,000 people watching. I normally played when several games was going on once and maybe ten peopel watching. I tell you with the bright lights and full court and 1,000 people watching it was crazy. I know it is a piddly little game but to me it was big. I later transfered to a big east school and our little intramural team won at SJU and we went to intramural championship in University of Pitt, we won first game and then lost. That tournament was pretty crowded too. No I did not play div one ball, heck I was not even on HS basket ball team, But those two intramural basketball chamption ship games were only times I play in a real game in a real college gyms in real uniforms with refs and people in stands and I tell you it is 100% different than the playground.
Beyond Thunderdome says:
February 25, 2011 at 8:44 am
JJ, you didn’t really try to say you played D1 basketball yesterday, did you?
We all know you’re in dreamland 24/7 when it comes to life, sports and women (i’ll still listen to your market calls, though), but this might be your funniest tale yet.
Wow JJ I played IM hockey in college, and Practiced with the BU Terriers as a friend of mine was on the team at the time. There is big difference between the big boys and rec leaguers. I could skate with those D1 kids but the difference in skillset and conditioning is sick. I’m sure it is the same for B-ball. so saying you balled in university should be limited to your time fingering mary jane rotten cr0tch
I found out who reinvestor 50.5 is It is none other than Governer Jerry Brown CA
“You’ve got tough constituents up there,” Brown said. “I’ve got a few relatives in your district. Pretty hard, rock-ribbed Republicans. Some of them didn’t even vote for me.”
http://www.mercurynews.com/california-budget/ci_17474282?source=rss&nclick_check=1
When I was in junior high school, I was a bit of a street hockey phenom. I was playing a pickup game and Jim Dowd, who was already a budding NHL prospect was on the other team. Well he took a slapper with a hockey ball and he caught me right in the stomach (no padding besides my t-shirt). I actually remember being astonished by the fact that the ball was literally spinning against my gut. I actually caught the ball, dropped it to the floor, and then the pain kicked in and I limped to the bench. I had a bruise which contained concentric rings of varying colors for about two weeks. It didn’t surprise me when I heard he was drafted a few years later by the New Jersey Devils. I’ve had a lot of sports-inflicted war wounds over the years, including one particular incident where I ended up with three fake teeth, a punctured tongue and 13 stitches in my chin. But, none ever compared to that Jim Dowd bullet. Man, I miss playing hockey. Working the scoreboard at my team’s home games is killing me.
Nice Pain!
My first email said I sucked at basketball and was only in a real game twice. Only team I actually was on was track. Only college scholorship for sports I ever was offered was Lacross at SJU. And no I have never even touched a Lacross stick in my life. Only reason I was offered that was I was 19 six foot two inch 190 pounds and they heard I was on the cross country team in HS. Told me height and weight and ability to run for hours makes me the perfect practice dummy, or blocker during games in garbage times. No one wants that work as you just get hit a lot and never score. I told my Mom I got it and she said how can someone on full financial aid get a scholorship? I went duh, team is getting me for free calling it a scholorship.
I laugh when I see all the kids in my town dreaming of a college scholorship by playing soccer all day. Bottom line is if you are big, in shape and can run quick you have a better chance then doing all that sports stuff. BTW you did notice I partied every day and every night for all of college and barely graduated. Do you really think I could practice in a gym that much, heck I could not even make it to class. Plus I always found the whole male bonding thing of sports teams a little queer. I did not even want to do track but damm guidance counseler made me do it so I would have something on my college application.
Painhrtz says:
February 25, 2011 at 9:48 am
Wow JJ I played IM hockey in college, and Practiced with the BU Terriers as a friend of mine was on the team at the time. There is big difference between the big boys and rec leaguers. I could skate with those D1 kids but the difference in skillset and conditioning is sick. I’m sure it is the same for B-ball. so saying you balled in university should be limited to your time fingering mary jane rotten cr0tch
30
I played across the line against Steve Tovar as a freshman football player. He went on to play LB at Ohio State and the NFL. He basically beat the hell out of me for 48 minutes. It took a week to recover to the point where I could walk without pain.
I gave up football and played golf.
JJ’s stories are as reliable as stats from NAR.
Grim 4 – Why shouldn’t the kids at the private MKA have equal or better access to drugs than the poor kids at the public Title I Bullock School?
Ditto 19 – It sure is. Kinda reminds me of when I was in college and my sister was in HS in Marlboro. I used to tell my parents nothing about what went on regularly in school. My sister would tell them everything. One day she comes home and tells my dad about some kids smoking pot in the school bathroom, and my dad thinking that MHS went to h*ll in a handbasket since I left starts to seriously consider sending her to private school. I’m relating this story to a friend of mine at UF and he says “Why yes, he should totally do that. Then the quality of what she’s smoking will go up immensely.”
I live in area of Brick with lots of waterfront homes for sale on the Metedeconk River, Barnegat Bay, and Beaver Dam Creek. Many homes have been for sale for years! Last year there was a reval that dramatically increased the property taxes on the waterfront properties. Taxes on my rental (a block from the river) actually went down. It’s an odd situation where the most valuable and highly taxed homes are owned mostly by summer residents who do not have any say in what is going on in the town.
I definately feel that the housing bust and recession have hit the Shore area significantly worse than Northern NJ. I see it everyday with my commute up to Essex County.
How ’bout this Brick gem for 4.3M and an 80k a year tax bill.
http://www.zillow.com/homedetails/843-South-Dr-Brick-NJ-08724/2132711277_zpid/
“Bottom line is if you are big, in shape and can run quick you have a better chance then doing all that sports stuff.”
There is more truth to this statement than appears. A coworker of mine has been following the progress of one of his best friend’s son for a number of years now. He was a high school All-American this year and was recruited by every top school in the nation. He eventually chose Notre Dame I think. His numbers in high-school were nothing more than average, but his height, weight and speed were all the recruiters were interested in. As a matter of fact, he played for a New York City school which means he had no real competition. His name is Ishaq Williams. Kenny Britt (Rutger’s alum) was also recruited due to nothing more than his size and speed. He now plays for the Titans.
So, no amount of sports camps are going to do it unless you are speedy and big. If your kid is short and average speed, then it would probably be smart to let your offspring know that he better study hard.
Funny Libtard, I know several kids as big as I was who played all types of sports, including a nephew that got really injured during sports during HS and none go scholorships, So luck is involved, also nephew was got at more than one sport and he got injured in a sport that was not even the one he was trying to get a scholorship on. I also know people who got bs scholorships as bench warmers who got really hurt and it was not worth is.
stu (30)-
Jim Dowd is the cousin of my business partner. He stops by every once in awhile.
The guy is basically a fully-weaponized machine of destruction.
Debt most of us hockey/lacrosse players are. the professionals just happen to be Special forces
http://en.wikipedia.org/wiki/Jim_Dowd_%28ice_hockey%29
Mr. Hockey in New Jersey
Just got my morning coffee at the DnD from a woman who looked like she was in her 70’s…retirement funds must be in the f_cking toilet…”muffin with that?”
14. Ew.
For those who have met him, Jim Dowd was very cool and never let his success get to his head. Especially not as a kid.
Now Brian Fortay of high school football quarterback fame was a supreme douchebag. I used to center for him until the 2nd string center took steroids and turned into a monster. He was the top ranked high school quarterback in the country as a Junior and opted for Miami (then a powerhouse) where there was no guarantee he would get to play. Well Gino Torretta ended up being so good that Fortay never played. He transferred to Rutgers eventually and ended up sucking compared to Ray Lucas (who also was relatively sucky). His father, a lawyer and another d1ckhead, tried to sue Miama for ruining his son’s football career. Fortunately, he didn’t get much and eventually got a minor settlement from the ‘U’.
Another guy on my HS football team and a very cool kid was our field goal kicker Josh Miller. He went on to be a punter in the pros and now has two super bowl rings. He now does broadcasting with the Steelers.
The Fortay story, which is really interesting, is here:
http://hurricanewarriors.com/joomla/index.php?option=com_content&task=view&id=260
I remember once I was at a game watching her cheer, wearing headphones listening to a walkman (circa 1985) and I fell asleep. Caught her glaring at me from the sidelines as my eyes fluttered open.
I wasn’t the real sports fanatic then and am not now. I grew up playing hockey and soccer. Just was never the big spectator. If I am not in a game I find them boring.
Sidenote: Most die hard UK fans never got close to going to college, but they love the team. I miss Kentucky and would actually go back to live there in a heartbeat. Low cost of living, lots of friends, and decent weather. *sigh*
Ben the aid was wiped out for just the reasons you cited, not getting to the kids anyway.
Minimum state aid, payed for by whom.
MikeinWaiting, from yesterday.
State aid was not wiped out for districts that received large amounts of state aid. In fact, they didn’t take much of a hit. Meanwhile, suburban districts, who got a few million in state aid at best saw their aid completely wiped out. These towns set upwards of 100 million to the state in income tax and god knows what in property taxes and they get back 500k in state aid. If you look at it, the local suburban municipalities can easily afford to pay for their school districts and lower their taxes at the same time. The state needs to stop bleeding them dry or at least give back some of the money they are taking.
In Kentucky (not the woods mind you but the towns) you can buy a place for $150k that would easily be $500k here.
49. If those same districts were smart, they could eliminate the layer of Supervisors that each make over $100k doing God knows what…and save themselves a cool mil easily.
people who buy their coffee at DnD don’t like coffee. That muck is like “coffee-flavored” something. DnD just show the beans to the water, but don’t permit contact.
“Obama has sought to make the case that investments in education, infrastructure and innovation will help create more jobs. ”
So he wants more teachers, more ditch diggers and more social networking jobs?
How about a space program and whatever happened to smart grids, wind farms, and solar on everyone’s roof?
“people who buy their coffee at DnD don’t like coffee. That muck is like “coffee-flavored” something. DnD just show the beans to the water, but don’t permit contact.”
Agree…no starbucks locally..hate that flavored crap
I only buy my road coffee at DND because I can get a medium coffee for about 40 cents with this new AMEX promotion that they have. If you put enough cream and sweetener in it, it’s edible. Still, nothing beats my Kona and you can’t beat the freshness and price.
http://www.shop.sweetokolecoffeecompany.com/product.sc;jsessionid=9E530A0F1C8D244E9C44FA209F765848.qscstrfrnt03?productId=12&categoryId=3
Captain Cheapo knows where to splurge.
I can’t drink Starbucks coffee. Too bitter and over roasted for me. I do like the caffeine wallop though.
Essex, I agree, but there are districts out there that have already made all the cuts prior to the cut off in the little state aid they receive. There’s no need to trim the fat on a lean school district. We should be emulating them.
38.
Im in Brick,
My taxes went up 50% thanks to that reval. I hired an attorney and I am in the process of an appeal. Ill let you know how it goes.
if you’re on the run and can’t get to a Pret a Manger or Starbucks (depending on whether you want it roasted just right or over-roasted, respectively) McDonalds coffee is much better than DnD. I kid you not, give it a try.
Pret a Manger (french roast especially) is the best bang for your buck. Plenty of locations in Manhattan, not sure about NJ.
Starbucks do over-roast. If you’re in a pinch, try McDonalds for coffee. I’m not kidding, it blows the DnD stuff out of the water.
great, so I post, the message doesn’t show, now I post again and look like a dizzy tart
CNBC: “Has MERS Captured the Government?” http://www.cnbc.com/id/41761015
It looks like so much tilting at windmills. MERS was not the problem, and keeping deadbeats in their homes by blocking foreclosures is not the solution.
Libtard:
Marcus Borden used to be my next door neighbor growing up. For those who do not know who he is, he is the East Brunswick High School Football coach. Before you even ask, I have no stories about the guy and his family. He actually was pretty nice guy when he lived next to me.
But if a couple gets divorced in Kentucky and then moves to New York are they still brother and sister.
Essex says:
February 25, 2011 at 11:09 am
In Kentucky (not the woods mind you but the towns) you can buy a place for $150k that would easily be $500k here.
Grew up playing baseball and HS football with a former Jets receiver from northern NJ. Lot of people did not like him and one of my HS buddy’s made him pi$$ himself. I thought his dad was the overbearing A-hole
Essex – I used to fall asleep at UF-UK football games. Was pretty boring watching our guys run up the score on the Wildcats each game. I remember one where we had 50 points on you guys by halftime. But at least you guys could always beat Vandy. YAWN.
Dracula forecloses on Wells Fargo.
Patrick Rogers, pictured at left, was just going about his business one day when Wells Fargo rather rudely informed him that the the $180,000 insurance policy on his home wasn’t good enough– they wanted the place insured for $1 million. Rogers disagreed and told Wells Fargo that he would not be following through with their demands. The bank’s representatives decided they didn’t care and went to the insurance company themselves and “forced” the policy. “You can imagine a premium on something like that,” Rogers says. This was the “genesis of a dispute” between Wells and Patty, who did not take the bank’s bull shit lying down. He found a little known law from the 1970′s that said if Wells didn’t acknowledge and respond to his inquiries, he could take them to court, which he did, and ultimately “ordered a sheriff’s sale on their downtown branch in Philadelphia.”
This is his story.
http://www.youtube.com/watch?v=Yqx9sUz36Zo&feature=player_embedded
JJ – The last guy I dated before Stu had a step-father who was his mother’s first cousin. She kicked his dad out one day, cousin moved in the next. The following weekend they went to Kentucky to get married because they couldn’t marry legally in NYS.
Ben 47 So the plan is get ride of Abbott districts, everyone gets x per student. If you run you district right should work out fine for kids. Ok , I can get behind that (no comments JJ!) , never happen by the way.
Gator, Stu, how are the renovations coming ? In by summer?
Mikeinwaiting (66):
They are going great so far. Demo is mostly done and electric is being wired now. So far, Brian has been very responsive and quite helpful. You’ll have to come to our housewarming when it’s done. I’m putting the deposit on the cabinets this afternoon and will ask about upgrading the shelves to better than particleboard, cheaper than ply. When we opened up the ceiling, there was about 4 feet of unused space. We will be doing a cathedral ceiling in there sloping from 13 feet down to 9 feet. So far, only three hidden issues came up and all are fixable.
Powder room was built on 2 foot high cement platform. Steam pipe to 2nd floor bath will need to be rerouted (risk due to black pipe). Main drain runs down wall where we wanted to put powder room sink, but we’ll box it out and put sink perpendicular to toilet.
His prices are so fair so far that we hired him to do the 2nd floor marble bathroom too. Goodbye bidet! Boo hoo.
Lib-
That Fortay story illustrates a major problem wit D1 football and their transfer situation. Kids are recruited into programs that by coaches that can leave. Then kids are punnished because they can’t transfer without losing a year.
QB is an interesting position where guys get better with playing time. It’s also very subjective, there are dozens of success stories of guys with so-so skills/mechanics that seem to have the intangibles. Delaware’s Pat Devlin will be on a NFL roster in the fall, yet he was cast aside at Penn State. He lost no eligibility because he transferred to a non-division 1 school.
At my first job this guy named Dave had a brother who was on a NJ state team with Jeremy Roenick. He said the worst hockey incident was when some guy checked Roenick really hard and they dropped gloves. Roenick tries to grab the guy’s face and his index finger went up the guy’s nostril. Then the refs jump in and try to separate them. The finger got stuck so it actually ripped out of the guy’s nose.
30.Libtard says:
February 25, 2011 at 10:00 am
But, none ever compared to that Jim Dowd bullet. Man, I miss playing hockey. Working the scoreboard at my team’s home games is killing me.
Does anyone have contacts in the alternative energy space in NJ? I have a client who is considering installing a solar array on about 15-20 acres of farmland. I have some of my own network, but I thought mentioning something here was a good idea.
Actually clot….e-mail me on this one….I’m sure you will have something enlightening if not humorously cynical to say……
Wow…Nice line of storms coming across. I imagine the winds behind it will be fierce.
http://radar.weather.gov/radar.php?rid=dix&product=N0R&overlay=11101111&loop=no
This would have been a better story if it was someone who went to Queens College when Ron Jeremy was a professor there.
chicagofinance says:
February 25, 2011 at 12:34 pm
At my first job this guy named Dave had a brother who was on a NJ state team with Jeremy Roenick. He said the worst hockey incident was when some guy checked Roenick really hard and they dropped gloves. Roenick tries to grab the guy’s face and his index finger went up the guy’s nostril. Then the refs jump in and try to separate them. The finger got stuck so it actually ripped out of the guy’s nose.
30.Libtard says:
February 25, 2011 at 10:00 am
But, none ever compared to that Jim Dowd bullet. Man, I miss playing hockey. Working the scoreboard at my team’s home games is killing me.
I love that crazy guy in Libya, making me money!
Treasuries Head for Biggest Weekly Gain in a Year on Libya, Revised Growth
Re: Coffee- I won’t argue Starbucks vs Dunkin – everyone’s taste is based on what their tastebuds prefer.
Starbucks. Inferior beans, over roasted. For the chem-geeks, and you know who you are, :) Caffeine is a methylxanthine derivative. When you dark roast a coffee – you burn a lot of the caffeine out of it as methylxanthines are heat sensitive and higher heat= less caffeine. It *tastes* like strong coffee because of the strength of the dark roast brew.
As you know, Cafe Monde added roasted chicory root to coffee –it worked to thicken and darken coffee and was cheaper that coffee beans — it acts as a filler but also smoothed out the flavor.
If you are looking for caffeine hit – light roast is your friend.
Coffee flavor is largely affected by intrinsic flavor of the bean, size of the grind, how hot the water is when brewing, method of brewing and extraction ie: french press, drip, percolator, or other specialized machine ie capresso, saeco, clover, etc.
The same batch of beans can yield myriad flavors based on the above variables.
sl
Stu glad to hear Brian is working out.
“Stu glad to hear Brian is working out.”
You never know until a contractor is done.
Wow…it’s like a tsunami here in Union.
Sunny here in Passaic Co.
Latest update on February warn notice, over 1000 http://lwd.state.nj.us/WorkForceDirectory/warn.jsp?printacrossID=1&StartDate=02/01/2011&EndDate=02/28/2011&DisplayDate=February%202011
Question for the crew. What would you starting offer be on this home? http://www.trulia.com/property/3043525790-21-Skytop-Rdg-Oakland-NJ-07436
80: Jay,
I think there have been some decent comp killers in that development.
#16 Cooper,
I really don’t know if those are deals are not. Buying a shore condo is not in the current household budget for us. It is amazing how many are listed as short sales and/or over 50% off bubble prices.
Thanks RELO:
These are the Comps I want to use, did you see any others?
Bed Bath Close Date Listing Price Sales Price
11 Highland Cross 4 3 1/7/2011 $639,000 $543,000
8 Winding Ridge 4 3 12/17/2010 $569,900 $550,000
6 Fieldstone Ct 5 3.5 11/17/2010 $711,000 $590,000
Coffee: need advice.
First off, I hate Starbucks. I’m not a chemist or a coffee geek, I just like drinking coffee, so I don’t speak the language. All I know is that D&D on a good day (rare) is smoother and borders on chocolaty. That’s how I like it. Starbucks it painful to drink, has a horrid aftertaste and it just bitter. My other issue, I can’t seem to make good coffee at home. I use a french coffee press, which is often recommended by the experts, grind it course as is also recommended and I use beans that I otherwise like at restaurants, etc. It tastes terrible, sludgy and weird. I used filter water too. I am thinking about getting an old fashioned percolator because I have had great coffee made for me from one. I think I’m cursed, coffee wise. What should I do, NJRERE?
#58 Moose said – “It looks like so much tilting at windmills. MERS was not the problem, and keeping deadbeats in their homes by blocking foreclosures is not the solution.”
Is this what you took from reading that? Did we read the same thing?
d2b,
Devlin was not “tossed aside” at Penn State. He was the #2 back-up (actually scored the winning TD against tOSU that year). Coaches built their offense on the HD spread. Darryl Clark had more experience running that style. Devlin had NFL dreams. Remember, this kid committed to Miami first then changed his mind for PSU. No ill will towards Pat. He would have started only 1 year at PSU (this past season). He was sorely missed too. Starting a true frosh at QB (then a walk on) led to a rough year.
Uncle Jay [80] (and others);
Is there some time-bending wormhole between NNJ and Manhattan that I’m not aware of? The best express train from Ramsey/Rt. 23 to Penn is over an hour, others are 1:15. No one I know who makes anything approaching what it takes to support that kind of a nut punches the clock and leaves at 5:00 PM to get home at a reasonable hour. What’s the Big [Biden] Deal?
30-yr [85];
I’ll grant everything in the article, that MERS is corrupt and corrupting, and must die; that the regulators overseeing it are one or all of inept, impotent and corrupt.
If the net result is that without the benefit of MERS, no bank can foreclose on deadbeat home loaners, the problem remains. The property must be put in the hands of people who can afford to pay for it, at market clearing prices.
Rain stopped, but getting a tad windy here.
83: There was one more, can’t remember the address but since it closed late summer, it may not be timely. If you haven’t already, make sure the List Price is the Original, not post-several reductions though Sold, of course, is the primary data point.
Barbara 84 – Buy the coffee that Captain Cheapo recommends. I was not a coffee drinker before the Kona. Could only drink the fancy flavored lattes that were more milk than coffee. The pure Kona is smooth and made me a daily coffee drinker.
87: Moose,
The solution is to work somewhere where the commute you reference is not an issue.
ps – Jay – good luck.
ps – Moose – So to recap, you want a free house, a reasonable commute and to leave before rush hour. Good luck.
Relo [93];
Don’t put words in my mouth; and if you try to, at least get the words right so you don’t embarass both of us.
I’m saying that if you make enough to truly affor over half a mill, you’re not working 9-5 — Simple Fact 1. The salaries to support that are found in Manhattan — Simple Fact 2. Therefore, a McMansion (much less a neighborhood with dozens if not hundreds of them) in outer exurbia at $680,000 is of little use to the vast majority of people who can afford to buy it. The calculus is that you’re supposed to get more for your money by accepting the coul-crushing commute; not that you pay more for the privilege.
And I’ll pay you $100 if you can find an authentic quote where I said my goal was to get a free house. Have fun looking.
Moose – editing mine
“…I said my goal was to get a free house. Have fun looking.”
$100 please :)
A quick search of the Monmouth-Ocean MLS shows 13 homes listed for sale in MANALAPAN for $1,000,000 or more. Seriously $1M to live in Manalapan?
The same search in Marlboro brings up 45 homes! I grew up here. It was a perfectly acceptable, boring place to live. But I’m not dropping $1M for access to Romeo’s Pizza, pretty good bagels and a crappy bus commute.
Thanks again RELO—-do you think $550K is a solid starting offer…based on those comps listed above?
Moose—yes, I could move 20 minutes closer in maybe Ridgewood or Glen Rock but get half the house with the same property taxes. Granted…I should probably leave the Northeast….but that isn’t a current option.
97: I have no earthly idea and why would you listen to what I have to say anyway? There are much better sources here for an opinion, but in the end it’s your money.
Do you live in Oakland currently?
Gates: The 33 bypass and 133 make Princeton and US 1 commutable. I’m sure the high-end are pharma/biotech people….
96.NJGator says:
February 25, 2011 at 3:48 pm
A quick search of the Monmouth-Ocean MLS shows 13 homes listed for sale in MANALAPAN for $1,000,000 or more. Seriously $1M to live in Manalapan?
The same search in Marlboro brings up 45 homes! I grew up here. It was a perfectly acceptable, boring place to live. But I’m not dropping $1M for access to Romeo’s Pizza, pretty good bagels and a crappy bus commute.
Marlboro sucks a$$……not intrinsically, just too many average people who are provincial and overconfident (there is a very clear description, but I do want to stereotype).
Chifi 99 – Got it. But you still have to be able to do so much better for that amount of moolah :)
Gator
The finishes in those 1m homes are already dated, if not just plain builders grade crap. Why not buy a 450,000 fixer that is large and in a good neighborhood? They could put their own finishes in and still wind up 300k in pocket by comparison? I suppose you’re the last person that needs that lesson!
94: You are right. Your words, standing on their own, should be enough.
Don’t put words in my mouth; and if you try to, at least get the words right so you don’t embarass both of us.
Also, the calculus you refer to has many variables, not unlike the cheerleader discussion of yesterday (much obliged, was looking for a way to bring that up again). What you state as simple facts are generalities that may or may not apply in individual circumstances.
Worst coffee I had to endure for any extended time was what was served on a Carnival cruise I took awhile back. Terrible. Not that I expected much on Carnival but coffee isn’t something that should be skimped on.
Barbara, 84
How far are you from NNJ? I used to enjoy french press coffee but found the same problems as you. We got a Capresso as a wedding gift years ago. Wound up eventually upgrading over time and love the coffee machine we have now – makes cappuccino, espresso, coffee, and has hot water for tea.
I hope you are near enough by me to try it. I will probably never own another drip coffee maker again. That said, they do have these small ceramic single cup drip coffee makers (I keep one for travel) Place in filter, drip hot water over the grounds – it fits over the top of a (pre-heated) coffee mug.
samples here:
http://www.fantes.com/coffee-manualdrip.html
sl
Gator, 91
I would love to try that Kona (willing to trade for a bottle of wine or buy it) – I have given up buying coffee online as I have never *not* been disappointed.
Willing to swap/sell a lb?
sl
AlJazeera is reporting that Libya’s former justice minister has said that Gaddafi has chemical and biological weapons and will use them against the Libyan people.
http://english.aljazeera.net/news/africa/2011/02/2011224143054988104.html#
Could be true, could be a lie. Who knows?
RELO-
not in Oakland yet. family is growing and need a bigger place. just looking for a range of a starting price. is $550K of the chart?
Also unaware of the fact that the area around NJTP exit 8A is considered the warehouse capital of the east coast. There are obvious reasons that they are widening the turnpike, but also there is serious truck traffic too….and access to Penn TP, I-95, I-287, I-295 etc.
101.NJGator says:
February 25, 2011 at 4:07 pm
Chifi 99 – Got it. But you still have to be able to do so much better for that amount of moolah :)
RELO-
not in Oakland yet. family is growing and need a bigger place. just looking for a range of a starting price. is $550K off base? too high? too low?
#84 Barbara
Get a keurig or a tassimo.
AlJazeera is reporting that Libya’s former justice minister has said that Gaddafi has chemical and biological weapons and will use them against the Libyan people.
The US got thier hand slapped when they invaded last time on rumors of weapons of mass destruction. My guess is that short of using WMD the international community isn’t going to do anything about it.
Unless you mean that setting your sweet light crude oil fields on fire is a WMD, then europe is going to invade you.
#111 – I like Nespresso, have had the machine a long time. However, I prefer espresso drinks to coffee drinks. Otherwise, I grind and french press for my morning fix. Hard to beat one of those fancy superautomatics like SL has, but they cost a pretty penny.
Sl 106 – email me. We can make it happen :)
make,
What was the name of that joint in south/middle jersey you were talking about?
http://www.nba.com/nets/dancer/index.html
Since I am going to be front row for the Bake Griffin vs. Nets game soon I am scoping out the Nets dancers. Wow are they hot, which one should I try to make a grab for. Now that the college cheerleader gaunlet has been thrown now I have to opt to anty to pro cheerleader. I love a chalenge.
Bystander,
Devlin may disagree with you but the issue is really letting kids move on when they no longer want to be there. Maybe the rule should be if the coach leaves or the kid is not a starter. I’m not sure how you would word that because you wouldn’t want every sophomore that is about to become a starter moving en masse so they could create a super team for one year. But coaches and schemes change all of the time and kids that have a very short window to prove themselves are not given the same chance. I believe that there is no way that Devlin would have committed to PSU if he thought that he would only start for one year.
grim, 113
Not if you know where to buy them ;)
sl
Gator — looking for email address right now… 5 yr old is driving the SLs up their walls…
sl
Jay,
A friend used to drive down 208 to the station in Fair Lawn. Not sure how much time that saved him daily.
My default is to say to start lower than wherever your current thinking is. But again, ask someone in the business.
The town definitely has it’s sketchy areas.
116: JJ,
Be sure to bring your kicks, Avery may need you.
Jay,
Try to ascertain what the seller’s level of distress is.
Jj says: “But if a couple gets divorced in Kentucky and then moves to New York are they still brother and sister?”
jj. I think it would depend how many teeth they have.
65. Ben 47 “So the plan is get rid of Abbott districts, everyone gets x per student”
Mikey. Abbot mandates the poorest districts to spend as much as the richest in nj. The end result is the shafting of the middle class. You want to lower abbott funding? You can convince the richest districts to stop spending so much per pupil.
84 “I am thinking about getting an old fashioned percolator because I have had great coffee made for me from one.” Barb. Love the percolator, tends to burn a bit but really gets the flavor from the bean. I use the individual cone and filter from melita and then pour each cup individually. Trick is to pour small amount at a time and use more coffee than they recomend on label. Never had a french press cup I liked.
Deadly five-alarm Brooklyn fire caused by candles that were knocked over during voodoo sex ritual
By JOHN DOYLE and JAMIE SCHRAM
Last Updated: 4:13 PM, February 25, 2011
Posted: 1:38 PM, February 25, 2011
A windswept, five-alarm fire that killed an elderly Brooklyn woman was started by candles placed on the floor near a bed while a man and woman were having sex after a voodoo ritual, sources said today.
Fire marshals determined that the Feb. 20 blaze at 346 East 29th St. in Flatbush escalated to a fifth alarm because of an open door and delays, but that it was all started by black magic.
“Time and time again we respond to tragedies that could have been so easily prevented,” said FDNY Commissioner Sal Cassano. “This fire had so many of those elements — candles left on the floor near combustible material, one of the occupants trying to douse the flames before calling 911 and an open door, which allowed fire to spread into the hallway. Hopefully others will learn from this tragedy.”
Retired guidance counselor Mary Feagin, 62, who lived on the sixth floor, died in the fire.
Fire Marshals said the blaze began around at 6:40 p.m., when a Brooklyn woman visited a fourth-floor apartment in the building, where she paid one of the male occupants $300 to perform a voodoo ceremony aimed at bringing her good luck.
After the ceremony, sources told The Post that the couple decided to have sex.
The fire was sparked after the couple knocked over the candles that were arranged on the floor around the bed, igniting the bed linens and clothes on the floor.
Instead of calling 911, sources said a second man who was also in the apartment “began retrieving water from a bathroom sink in a futile effort to put it out, but the flames only grew.”
As smoke began to gather in the apartment, the man then opened a window and propped open the door to the hallway in an attempt to dissipate the smoke.
Wind gusts of 40 mph “shot the flames back inside, creating a blowtorch effect as winds whipped in through the open window and pushed fire out into the hallway. The occupants fled the apartment, leaving the door open,” the FDNY said.
Fire engulfed the fourth, fifth and sixth floors, causing part of the roof and fourth floor to collapse. Nearly 200 firefighters took almost seven hours to bring the fire under control.
Barb also there is a huge difference between beans, especially at starbucks. Their pike place and columbia are smoothe and more mild. Their Breakfast blend tastes like water and probably not stronger than Dnd. But let G*d help anyone who gets stuck talking to someone who just drank a venti french, italian or samatra. Also for the record, their komono dragon has to be the most diguisting bean on the planet. Another important note, if you buy starbux from barnes and noble, it is not really starbux at all. Its much more like battery acid simmered down to concentrate over the course of a few days.
RELO-any secrets to determining that level of stress? Their broker (“Barry Colyer”)is not going to come out and say they need to sell this in a month or foreclosure proceedings will commence. From what I gathered to date, the guy is actually an a$$.
(50) ditto
Big difference btwn DnDs in New England and elsewhere. I grew up on DDs, and when I moved south, I noticed how awful DDs has become. Couldn’t stomach it. Figured DDs had declined and that was that.
Then I bought a cup at a DDs in Maine and cazat, it was that old rich flavor I loved.
Cannot explain why, but DDs here blows while back in NE, it is still pretty good.
It’s late in the day and deep in the thread, but I bring this up only to illustrate how fncked RE taxes are.
http://www.maltzauctions.com/auction_detail.php?id=152070
Submitted for your approval is a 6+2 BR, 4½ bath oceanfront estate on 2 acres in Deal. Har-Tru Clay Tennis Court, 40′ x 60′ Blacktop Basketball Court, 20′ x 40′ In-Ground Pool w/ Electric Cover and Attached Spa, Cabana w/ Full Kitchen, Laundry, Shower & 2 Commodes.
Up for auction. Specifically, bankruptcy auction. The stalking horse bid is $3.2 MM. The real estate taxes are $15,000.
I say again, $15,000.
There are people paying that much or more in taxes on frontier neighborhood properties (West Orange springs to mind) with significantly less market value, not to mention curb (crib?) appeal. Is the annual tax bill on an average half-mil house in Deal $2,500?
still looking, 106
I would love to try that Kona (willing to trade for a bottle of wine or buy it) – I have given up buying coffee online as I have never *not* been disappointed.
Willing to swap/sell a lb?
Kona mountain Coffee. I was in Kona last summer and I tried them all. 100% Kona coffee is easily superior to everything else. This is the coffee that beats them all. Loved it so much that I bought 3 more pounds via their website at $30 bucks a pound. Well worth the price. I tried others that were $70 bucks a pound but they weren’t as good.
Neandertal
Abbott is based n the demise that school performance is based on funding and that premise has been shown to be wrong time and again. Funding is virtualy irrelevant compared to the outcome effects of a sound stable family.
Acknowledging that inconvienent little fact isn’t going to hapen anytime soon
#130 Moose,
1) I think that is one of Dwek’s places.
2) Deal only has 100 or so kids k-8, high school is Asbury Park. Very few of those kids will go to AP. I think most of the houses in Deal are summer houses for the Sephardic from NYC (there are are 900 houses in Deal and a year round population around 1,000). The Sephardic that live year round in Deal send their kids to parochial schools.
Anyone up for seeing Jim Dowd….
http://www.steedshockey.com/
125. Neanderthal
I’m going to pick up one of those at BB&B with my 20% off coupon. I figure the returns policy is great so if I don’t like it, back it goes. Good to know I’m not the only one who can’t make the french press work.
sl and others, thanks for the input, I will move to the single cup machines if plan A doesn’t work out. Also I will try to find a small batch of the kona to try. 110.00 is a little steep considering my track record.
Re: 130 – Moose guard you liver when you go there.
http://www.nytimes.com/2009/07/25/nyregion/25deal.html
Neanderthal,
is it this one? I like the glass knob (most are plastic)
https://shop.melitta.com/itemdy00.asp?T1=66+346&Cat=
also thinking about a Mukka Express but they are more expensive.
Sl – you’ve got mail.
If you hear it from the old timers in Deal, the Syrian Jews ruined those properties in Deal. They tore out all the heirloom plantings, old trees and all the pretty details on those houses. Replaced the siding with stucco. I personally think it looks tacky and out of place, I wouldn’t buy there even if I had the money.
As a Deal/Allenhurst resident since 1968, I’ve watched the town transform. In the ’70’s it was tough to watch the old seashore colonials torn down and modern boxes constructed. In the ’90’s the angled wood siding was replaced with stucco. Now the architecture du jour is cedar shake Nantucket- style homes. Some really pretty estates have been built in the last 10 years. For 10 months a year it is a sleepy seaside community- the other two months, well…
The low taxes are a result of a long standing unique school funding formula Deal has with Asbury Park, along with Allenhurst and Interlaken. These towns are charged only on a per student basis. No students attend Asbury so no tax. Deal Elementary School accepts tuition students although it is a public school. Deal along with Allenhurst and Interlaken have been mandated by the state to merge with a K-12 district, but has gotten around the law by arguing that Asbury Park is a failed district, so far it has worked and the current administration is not enforcing the mandate.
NJ Coast, they remind me of the big old house in Beetleguise, after the renovations, heh.
137 barb. I don’t know much about the different types of percolators. I thought they were all the same. I use the melitta individual cones and plastic filters that you manually pour over a coffee mug. Ill try to post a link but they are always sold in coffee isle at grocery store for about ten bucks.
132 ket, yeah umm I think you got that entire paragraph from me since I’ve said it a thousand times, not to mention wrote a 100 page grad thesis on it.
Barb if you go to that melitta website and click on the ‘non electric coffee makers’ you will see a whole bunch of them. I go with the smallest simplest one and it makes a great cup of joe.
ROLF!
http://www.buzzfeed.com/awesomer/et-x
145. Cool. I like the individual since I’m the only one here that drinks coffee.
I don’t know….this little bitch seems to crank out the Joe just fine…..I buy Whole Foods store brand French Roast and make it on the strong side…..everyone who visits says WTF this is pretty good! ….no big mystery and it is pretty cheap too….
http://www.cuisinart.com/products/coffee_bar/dcc-1200.html
I think BB&B sells it at MSRP and you can get 20% off w/ you coupon….we filter our drinking water with an RO system…
Love my N’Esspresso….and I get to support another Swiss Multinational. God I love the Swiss.
Essex: you are a fckin hick and an empty headed shit quality troll….
WSJ
WEEKEND INVESTOR
FEBRUARY 26, 2011
Housing: Is It Time to Buy?
The Relationship Between the National Housing Market and Local Markets Is Breaking Down—and Opportunities Are Cropping Up for Well-Heeled Buyers. Here’s What You Need to Know
By M.P. MCQUEEN
Michael Rubenstein For the Wall Street Journal
The Rybski family recently sold their home in Mendham, N.J., and bought a much larger one across town for $1.025 million. The upgrade is costing them just $800 more a month.
Despite the glum statistics recently, well-heeled buyers in many markets should feel comfortable betting on the latter.
Home prices nationwide in December were down more than 31% from their 2006 peak, according to the latest Standard & Poor’s/Case-Shiller index, including a 4.1% fall in 2010. And some economists see more weakness ahead, based on the so-called shadow inventory of foreclosures that haven’t yet been put up for sale.
But the national housing market is merely a collection of local markets. And while those markets have moved together to an unusual degree during the past 15 years or so, new data show that the pattern is changing—and that many markets are safer now than they have been in years.
Before the recent housing boom, local and national prices in the 14 biggest markets had a slight negative correlation, meaning some markets tended to zig as others zagged, says Robert Shiller, an economist at Yale University and co-creator of the Case-Shiller index. From 1997 to 2006, however, “correlations became very close for nearly all [14] cities,” he says, as a rising tide lifted most boats.
Correlations are still quite high by pre-1997 standards, but they are weakening. In the first quarter of 2009, for example, median prices for existing-home sales declined from the previous year in 134 of 152 metropolitan statistical areas, according to the National Association of Realtors. By contrast, in the fourth quarter of 2010, median prices rose in 78 markets, fell in 71, and were unchanged in three.
David Blitzer, chairman of the index committee at S&P Indices, says the breakdown in correlations “is a positive sign we are moving out of the boom-bust cycle.”
Even within metro areas, there are growing divides. In some markets, such as upscale Greenwich, Conn., sales and prices are picking up closer to the downtown area even as more moderately priced homes in adjoining neighborhoods languish on the market, says Jeffrey Jackson, chairman of Mitchell, Maxwell & Jackson Inc., an appraisal company in New York. In other regions, such as the Midwest, the situation is reversed, with starter homes and “distressed sales” such as foreclosures in demand but trade-ups and retirement townhouse sales stalling.
“There is no consistency,” says Lawrence Yun, chief economist of the National Association of Realtors. “In one quarter, a market may see a price increase and the next quarter a price decrease.”
There’s good reason to be skeptical of the national statistics. The NAR’s quarterly price data are based on median sale prices and can be skewed by sales of higher- or lower-priced homes when there are few transactions, experts say. The Case-Shiller index is based on repeat sales of specific homes, which some argue is a more accurate measure—but it is limited to only the 20 biggest markets.
Local Market Monitor Inc., a real-estate research company based in Cary, N.C., that ranks local housing markets for banks, investors and builders, combines the best of both. It takes repeat-sales prices compiled by the Federal Housing Finance Agency across 315 housing markets and compares them with the “equilibrium prices” that can be sustained by local economic conditions. Then it ranks markets accordingly.
LMM’s latest data, released Thursday, suggest the worst of the housing bust is over in most areas. The firm rated just 21 markets as “frankly dangerous” in February, down from 31 in August. It ranked 20 markets as speculative, 259 markets as posing “typical” risks and 15 as suitable for conservative investors, from 37, 222 and 25, respectively, in August.
“For the vast majority, we are seeing a much more normal situation,” says Carolyn Beggs, chief operating officer at LMM. “Home buyers shouldn’t have the fear they would have had three years ago.”
Despite the broadly positive signs, however, buyers still need to exercise caution, for there are vast differences across various metro areas—and sometimes from one part of town to another.
Is the Worst Over?
In the Northeast, prices in financial centers such as New York and Boston are benefiting from the Wall Street rebound, and in many neighborhoods prices are either bottoming or gaining modestly, according to LMM. Washington is seeing a slow recovery in home prices thanks to relatively stable government employment.
The metro Philadelphia area saw prices decline just 0.5% the fourth quarter of 2010 over the previous year, far better than the national average. Optimism is spreading: Building permits for single-family homes rose 8% in 2010, far better than the 3% rise nationwide. But the dividing line is stark: In nearby Allentown, Pa., which has suffered high foreclosure rates during the bust, permits plunged 22% in 2010.
“Philadelphia is an established East Coast city that didn’t have a lot of overbuilding during the boom, so its bust was less painful than somewhere like Allentown, which was one of the growing areas in Pennsylvania,” says Robert Denk, senior economist at the National Association of Home Builders.
In the Southeast, the pain is much more widespread. Florida cities such as Orlando, Jacksonville and Daytona still are struggling from foreclosures, high inventories, unemployment and a weak second-home market. In Orlando, ranked by LMM as a “frankly dangerous” market, prices declined 8.1% in 2010. Jacksonville declined 7.3%, while Daytona was down 5.6%.
California, meanwhile, is a hodgepodge. In some cities, prices are recovering faster than in many other parts of the U.S., largely because of population growth. In San Diego, prices increased by 0.1% in 2010; in Los Angeles, prices were flat. The San Jose-Sunnyvale-Santa Clara area, near Silicon Valley, saw a 2.2% rise.
Dianne Hartnett, a Re/Max real-estate agent in downtown San Diego, says sales have been “surprisingly” brisk for condominiums, which typically start at about $575,000. “There hasn’t been a lot of new construction and there won’t be for a while, and that is healthy for the downtown market,” she says.
The situation is quite different in Central California, a hotbed of foreclosures. LMM ranks Fresno, for instance, as “frankly dangerous,” with prices having fallen 5.5% in 2010. Rental vacancy rates there surged from 3.8% in the first quarter to 11% in the fourth, according to the U.S. Census Bureau, thanks to a spike in foreclosed homes now available for rental. In Los Angeles, by contrast, vacancy rates fell to 6.2% in the fourth quarter from 8.4% in the first quarter.
Las Vegas, Reno and Phoenix continue to cast a pall over much of the Southwest. All three remain on LMM’s “frankly dangerous” list, with prices having fallen by 5.9% in Las Vegas, 10.3% in Reno and 8.9% in Phoenix.
Yet some Texas cities, such as Austin, Dallas and San Antonio, are much healthier. The region largely escaped the boom and bust—and employment has held up better thanks to the thriving oil industry. In San Antonio, for example, prices rose 0.7% in 2010.
The Midwest remains sluggish, with its biggest market, Chicago, down 0.3% in 2010. Paul Wells, a Re/Max broker in nearby Barrington, Ill., says prices and sales overall in Chicagoland appear to be stabilizing but are better for low-cost housing than for more expensive homes.
“More people are looking in the upper price ranges than last year at this time,” Mr. Wells says, “but sales above $1 million last year were still about 10% below what they were in 2009.” By contrast, sales of homes priced under $1 million increased 10%.
The Wild Card
There is, of course, one wild card that could affect most markets: rising interest rates. A big surge could pose a risk by making homes less affordable. Rates for a 30-year fixed-rate conforming mortgage spiked to 5.13% on Feb. 14 from 5.04% a week earlier, according to the Mortgage Bankers Association.
Since then, however, rates have fallen back below 5% on jitters over the Libya situation.
The best-case scenario might be that rates rise in 2011, but very slowly. That “should encourage people to act soon, before rates get any higher,” says Guy D. Cecala, CEO and publisher of Inside Mortgage Finance Publications Inc., a Bethesda, Md.-based provider of residential mortgage data. In San Francisco, for example, “Rates were going up [in 2010], but it was good because it pushed people to buy,” says Alan Mark, founder of The Mark Co., a residential real-estate consultant there.
Confusing though the various statistics may be, they do point to one overarching conclusion: Now is a good time for upper-income buyers in most markets to start looking.
Consider Gail Rybski, a human-resources executive at a pharmaceutical company, and her husband, Robert, a remodeler. The couple recently sold their home in Mendham, N.J., and bought a much larger one on two more acres across town—a “Norman Rockwell-esque” neighborhood, Mrs. Rybski says.
The couple got a 4.9% 30-year fixed-rate loan for the new house, for which they paid $1.025 million. The monthly nut is just $800 higher, an amount they can easily afford.
Mrs. Rybski says she did much research before taking the plunge. When she added up all of the pros and cons, she says, “We thought this investment was a risk worth taking.”
unmod?
chicagofinance says:
Your comment is awaiting moderation.
February 25, 2011 at 11:23 pm
WSJ
WEEKEND INVESTOR
FEBRUARY 26, 2011
Housing: Is It Time to Buy?
The Relationship Between the National Housing Market and Local Markets Is Breaking Down—and Opportunities Are Cropping Up for Well-Heeled Buyers. Here’s What You Need to Know
By M.P. MCQUEEN
Michael Rubenstein For the Wall Street Journal
The Rybski family recently sold their home in Mendham, N.J., and bought a much larger one across town for $1.025 million. The upgrade is costing them just $800 more a month.
Despite the glum statistics recently, well-heeled buyers in many markets should feel comfortable betting on the latter.
Home prices nationwide in December were down more than 31% from their 2006 peak, according to the latest Standard & Poor’s/Case-Shiller index, including a 4.1% fall in 2010. And some economists see more weakness ahead, based on the so-called shadow inventory of foreclosures that haven’t yet been put up for sale.
But the national housing market is merely a collection of local markets. And while those markets have moved together to an unusual degree during the past 15 years or so, new data show that the pattern is changing—and that many markets are safer now than they have been in years.
Before the recent housing boom, local and national prices in the 14 biggest markets had a slight negative correlation, meaning some markets tended to zig as others zagged, says Robert Shiller, an economist at Yale University and co-creator of the Case-Shiller index. From 1997 to 2006, however, “correlations became very close for nearly all [14] cities,” he says, as a rising tide lifted most boats.
Correlations are still quite high by pre-1997 standards, but they are weakening. In the first quarter of 2009, for example, median prices for existing-home sales declined from the previous year in 134 of 152 metropolitan statistical areas, according to the National Association of Realtors. By contrast, in the fourth quarter of 2010, median prices rose in 78 markets, fell in 71, and were unchanged in three.
David Blitzer, chairman of the index committee at S&P Indices, says the breakdown in correlations “is a positive sign we are moving out of the boom-bust cycle.”
Even within metro areas, there are growing divides. In some markets, such as upscale Greenwich, Conn., sales and prices are picking up closer to the downtown area even as more moderately priced homes in adjoining neighborhoods languish on the market, says Jeffrey Jackson, chairman of Mitchell, Maxwell & Jackson Inc., an appraisal company in New York. In other regions, such as the Midwest, the situation is reversed, with starter homes and “distressed sales” such as foreclosures in demand but trade-ups and retirement townhouse sales stalling.
“There is no consistency,” says Lawrence Yun, chief economist of the National Association of Realtors. “In one quarter, a market may see a price increase and the next quarter a price decrease.”
There’s good reason to be skeptical of the national statistics. The NAR’s quarterly price data are based on median sale prices and can be skewed by sales of higher- or lower-priced homes when there are few transactions, experts say. The Case-Shiller index is based on repeat sales of specific homes, which some argue is a more accurate measure—but it is limited to only the 20 biggest markets.
Local Market Monitor Inc., a real-estate research company based in Cary, N.C., that ranks local housing markets for banks, investors and builders, combines the best of both. It takes repeat-sales prices compiled by the Federal Housing Finance Agency across 315 housing markets and compares them with the “equilibrium prices” that can be sustained by local economic conditions. Then it ranks markets accordingly.
LMM’s latest data, released Thursday, suggest the worst of the housing bust is over in most areas. The firm rated just 21 markets as “frankly dangerous” in February, down from 31 in August. It ranked 20 markets as speculative, 259 markets as posing “typical” risks and 15 as suitable for conservative investors, from 37, 222 and 25, respectively, in August.
“For the vast majority, we are seeing a much more normal situation,” says Carolyn Beggs, chief operating officer at LMM. “Home buyers shouldn’t have the fear they would have had three years ago.”
Despite the broadly positive signs, however, buyers still need to exercise caution, for there are vast differences across various metro areas—and sometimes from one part of town to another.
Is the Worst Over?
In the Northeast, prices in financial centers such as New York and Boston are benefiting from the Wall Street rebound, and in many neighborhoods prices are either bottoming or gaining modestly, according to LMM. Washington is seeing a slow recovery in home prices thanks to relatively stable government employment.
The metro Philadelphia area saw prices decline just 0.5% the fourth quarter of 2010 over the previous year, far better than the national average. Optimism is spreading: Building permits for single-family homes rose 8% in 2010, far better than the 3% rise nationwide. But the dividing line is stark: In nearby Allentown, Pa., which has suffered high foreclosure rates during the bust, permits plunged 22% in 2010.
“Philadelphia is an established East Coast city that didn’t have a lot of overbuilding during the boom, so its bust was less painful than somewhere like Allentown, which was one of the growing areas in Pennsylvania,” says Robert Denk, senior economist at the National Association of Home Builders.
In the Southeast, the pain is much more widespread. Florida cities such as Orlando, Jacksonville and Daytona still are struggling from foreclosures, high inventories, unemployment and a weak second-home market. In Orlando, ranked by LMM as a “frankly dangerous” market, prices declined 8.1% in 2010. Jacksonville declined 7.3%, while Daytona was down 5.6%.
California, meanwhile, is a hodgepodge. In some cities, prices are recovering faster than in many other parts of the U.S., largely because of population growth. In San Diego, prices increased by 0.1% in 2010; in Los Angeles, prices were flat. The San Jose-Sunnyvale-Santa Clara area, near Silicon Valley, saw a 2.2% rise.
Dianne Hartnett, a Re/Max real-estate agent in downtown San Diego, says sales have been “surprisingly” brisk for condominiums, which typically start at about $575,000. “There hasn’t been a lot of new construction and there won’t be for a while, and that is healthy for the downtown market,” she says.
The situation is quite different in Central California, a hotbed of foreclosures. LMM ranks Fresno, for instance, as “frankly dangerous,” with prices having fallen 5.5% in 2010. Rental vacancy rates there surged from 3.8% in the first quarter to 11% in the fourth, according to the U.S. Census Bureau, thanks to a spike in foreclosed homes now available for rental. In Los Angeles, by contrast, vacancy rates fell to 6.2% in the fourth quarter from 8.4% in the first quarter.
Las Vegas, Reno and Phoenix continue to cast a pall over much of the Southwest. All three remain on LMM’s “frankly dangerous” list, with prices having fallen by 5.9% in Las Vegas, 10.3% in Reno and 8.9% in Phoenix.
Yet some Texas cities, such as Austin, Dallas and San Antonio, are much healthier. The region largely escaped the boom and bust—and employment has held up better thanks to the thriving oil industry. In San Antonio, for example, prices rose 0.7% in 2010.
The Midwest remains sluggish, with its biggest market, Chicago, down 0.3% in 2010. Paul Wells, a Re/Max broker in nearby Barrington, Ill., says prices and sales overall in Chicagoland appear to be stabilizing but are better for low-cost housing than for more expensive homes.
“More people are looking in the upper price ranges than last year at this time,” Mr. Wells says, “but sales above $1 million last year were still about 10% below what they were in 2009.” By contrast, sales of homes priced under $1 million increased 10%.
The Wild Card
There is, of course, one wild card that could affect most markets: rising interest rates. A big surge could pose a risk by making homes less affordable. Rates for a 30-year fixed-rate conforming mortgage spiked to 5.13% on Feb. 14 from 5.04% a week earlier, according to the Mortgage Bankers Association.
Since then, however, rates have fallen back below 5% on jitters over the Libya situation.
The best-case scenario might be that rates rise in 2011, but very slowly. That “should encourage people to act soon, before rates get any higher,” says Guy D. Cecala, CEO and publisher of Inside Mortgage Finance Publications Inc., a Bethesda, Md.-based provider of residential mortgage data. In San Francisco, for example, “Rates were going up [in 2010], but it was good because it pushed people to buy,” says Alan Mark, founder of The Mark Co., a residential real-estate consultant there.
Confusing though the various statistics may be, they do point to one overarching conclusion: Now is a good time for upper-income buyers in most markets to start looking.
Consider Gail Rybski, a human-resources executive at a pharmaceutical company, and her husband, Robert, a remodeler. The couple recently sold their home in Mendham, N.J., and bought a much larger one on two more acres across town—a “Norman Rockwell-esque” neighborhood, Mrs. Rybski says.
The couple got a 4.9% 30-year fixed-rate loan for the new house, for which they paid $1.025 million. The monthly nut is just $800 higher, an amount they can easily afford.
Mrs. Rybski says she did much research before taking the plunge. When she added up all of the pros and cons, she says, “We thought this investment was a risk worth taking.”
Yet some Texas cities, such as Austin, Dallas and San Antonio, are much healthier. The region largely escaped the boom and bust—and employment has held up better thanks to the thriving oil industry. In San Antonio, for example, prices rose 0.7% in 2010.
The Midwest remains sluggish, with its biggest market, Chicago, down 0.3% in 2010. Paul Wells, a broker in nearby Barrington, Ill., says prices and sales overall in Chicagoland appear to be stabilizing but are better for low-cost housing than for more expensive homes.
“More people are looking in the upper price ranges than last year at this time,” Mr. Wells says, “but sales above $1 million last year were still about 10% below what they were in 2009.” By contrast, sales of homes priced under $1 million increased 10%.
The Wild Card
There is, of course, one wild card that could affect most markets: rising interest rates. A big surge could pose a risk by making homes less affordable. Rates for a 30-year fixed-rate conforming mortgage spiked to 5.13% on Feb. 14 from 5.04% a week earlier, according to the Mortgage Bankers Association.
Since then, however, rates have fallen back below 5% on jitters over the Libya situation.
The best-case scenario might be that rates rise in 2011, but very slowly. That “should encourage people to act soon, before rates get any higher,” says Guy D. Cecala, CEO and publisher of Inside Mortgage Finance Publications Inc., a Bethesda, Md.-based provider of residential mortgage data. In San Francisco, for example, “Rates were going up [in 2010], but it was good because it pushed people to buy,” says Alan Mark, founder of The Mark Co., a residential real-estate consultant there.
Confusing though the various statistics may be, they do point to one overarching conclusion: Now is a good time for upper-income buyers in most markets to start looking.
Consider Gail Rybski, a human-resources executive at a pharmaceutical company, and her husband, Robert, a remodeler. The couple recently sold their home in Mendham, N.J., and bought a much larger one on two more acres across town—a “Norman Rockwell-esque” neighborhood, Mrs. Rybski says.
The couple got a 4.9% 30-year fixed-rate loan for the new house, for which they paid $1.025 million. The monthly nut is just $800 higher, an amount they can easily afford.
Mrs. Rybski says she did much research before taking the plunge. When she added up all of the pros and cons, she says, “We thought this investment was a risk worth taking.”
Yet some Texas cities, such as Austin, Dallas and San Antonio, are much healthier. The region largely escaped the boom and bust—and employment has held up better thanks to the thriving oil industry. In San Antonio, for example, prices rose 0.7% in 2010.
The Midwest remains sluggish, with its biggest market, Chicago, down 0.3% in 2010. Paul Wells, a Re/Max broker in nearby Barrington, Ill., says prices and sales overall in Chicagoland appear to be stabilizing but are better for low-cost housing than for more expensive homes.
“More people are looking in the upper price ranges than last year at this time,” Mr. Wells says, “but sales above $1 million last year were still about 10% below what they were in 2009.” By contrast, sales of homes priced under $1 million increased 10%.
The Wild Card
There is, of course, one wild card that could affect most markets: rising interest rates. A big surge could pose a risk by making homes less affordable. Rates for a 30-year fixed-rate conforming mortgage spiked to 5.13% on Feb. 14 from 5.04% a week earlier, according to the Mortgage Bankers Association.
View Full Image
Michael Rubenstein For the Wall Street Journal
Robert and Gail Rybski at their new home in Mendham, N.J.
.Since then, however, rates have fallen back below 5% on jitters over the Libya situation.
The best-case scenario might be that rates rise in 2011, but very slowly. That “should encourage people to act soon, before rates get any higher,” says Guy D. Cecala, CEO and publisher of Inside Mortgage Finance Publications Inc., a Bethesda, Md.-based provider of residential mortgage data. In San Francisco, for example, “Rates were going up [in 2010], but it was good because it pushed people to buy,” says Alan Mark, founder of The Mark Co., a residential real-estate consultant there.
Confusing though the various statistics may be, they do point to one overarching conclusion: Now is a good time for upper-income buyers in most markets to start looking.
Consider Gail Rybski, a human-resources executive at a pharmaceutical company, and her husband, Robert, a remodeler. The couple recently sold their home in Mendham, N.J., and bought a much larger one on two more acres across town—a “Norman Rockwell-esque” neighborhood, Mrs. Rybski says.
The couple got a 4.9% 30-year fixed-rate loan for the new house, for which they paid $1.025 million. The monthly nut is just $800 higher, an amount they can easily afford.
Mrs. Rybski says she did much research before taking the plunge. When she added up all of the pros and cons, she says, “We thought this investment was a risk worth taking.”
I can’t get the rest of the article to post…sorry
moose (88)-
I read that post three times and now I’m shocked that you were actually able to pass the bar exam.
box (136)-
I’d pry out his liver with a KFC spork.
Something tells me that you couldn’t transplant it back into anything more genetically sophisticated than a donkey, though.
lot a luv in here……..lot a luv….
babs (157)-
Hey, I’m a compassionate guy. I’d at least brain moose with a hammer before doing my DeBakey imitation on him with a spork.
Essex theme song…
http://www.youtube.com/watch?v=QQBdj4-3610&feature=related
158. Debt
s’ok, I come here for the real estate news but I stay for the violence.
151. Yeah I do love the country. Yes indeed. But you’d salivate over the pedigree of my family dude. Believe me. Lots of heavy hitter city folk there. All residents of snooty towns that you admire. Don’t worry. It’s nuthin to me.
babs (160)-
All about the ultraviolence, my little droogie.
Re #4:
I alwas get a kick when they call drugs “a controlled dangerous substance “. Makes them sound like explosives or something.
Re school funding/solid family:
Has anyone done a study on the multiplier effect of the cycle of having one generation of uneducated/undereducated kids becoming adults and sending their kids to the same lousy schools? It would seem to me that in and of itself would show you the problem isn’t funding as the funding has increased dramatically over the past 50 years while the results have not gotten better.
BTW, was reading a NY Post article yesterday (it was the only thing available to take to the can, you like that JJ???) about the problems with getting rid of bad teachers in NYC schools, these are teachers who have committed crimes, not the simply incompetent ones, and the fact that jumped out to me is these people are making $85K-95K a year. WTF? They only have to work 9-10 mos a year.
HeHe Maybe Veto has it in his thesis. If he did I’m sure he could produce some nice visuals in chart form. We could then put in the stick men. Have to dig that one up, always good for a laugh.
Nom Good coffee up north , bad down south. The water may be the problem. I know some guys in the pizza business, went down south to open up places. The pizza is not as good same same except for the water. There is a bakery on Rte 46 by Willow brook mall , I forget the name. They moved from Newark put in water tank have the water brought in from Newark to maintain quality, water counts. By the way no big shakes , pastry just ok bread a hair better, would not make a trip to get their product.
HEHE 164
That would be a reasonable hypothesis and my wife who has worked with those sorts of populations before has commented pretty much along those lines. Good luck ever trying to actually address that. You would have to publicly call large groups of “minority” populations “failed” parents who need to be re-educated.
You would immediately be called a racist a bigot and every other insult that could be managed. You would also be derided for trying to eradicate “urban” culture. It would also devastate the money game that the current education system plays. Oh and the feminists might not like you for saying their should be a stable father in the picture.
Note that they have run programs that focus on the parents, by teaching the parents how to help their children with homework and they were a huge success. I’m sure Veto can expand on that
Veto
Not trying to steal your thunder. we just have the same point of view on the subject.
168 – http://www.bbbs.org
We’ve got lots of folks with plenty of excess time and income here. Break the cycle.
Question for the crew. What would you starting offer be on this home? http://www.trulia.com/property/3043525790-21-Skytop-Rdg-Oakland-NJ-07436
$550K? Too high, too low?
Jay nice home ,but 14K in taxes makes it a throw away.
Grim
I did that for a number years before my munchkin came along. I did it through some group at rutgers not bbbs.
[167] mike
I thought about the water too, but the problem is too widespread. I know food mfgrs make different products for different parts of the country (e.g., a hot salsa down south is hotter than a hot salsa in Minnesota), and that may be to account. So I, as a transplant, would hate the coffee here, while mid-atlantic types would hate it in N.E. Also, the source for original owned stores may be different than for franchisees elsewhere.
Anyway, not worth my while to try to figure it out. I just avoid DD outside of Mass. and Northern N.E.
Ben 100 or so,
re kona- thanks! hoping to try some —
sl
Gator,
You;ve got mail – twice! :)
sl
Jay,
$510,000 is your best and final on that house. Let the seller’s agent know that you’re willing to stretch that much despite the taxes being beyond absurd. Let them also know that you’re offer is on the table for a short time to allow the sellers to get over their tantrums and denial. But, make sure that the seller’s agent knows that your offer drops at a rate of 1% of the asking price per month provided that you don’t find something else.
Debt [155];
Your reply explains why you’ve better suited to shilling swill than intellectual pursuits.
My comment is about preferred policy, not current law.
To all;
Thanks for the info on Deal. Sounds like Cedarhurst. Democracy can work.
I’m surprised there wasn’t more discussion yesterday regarding the vote in Wisconsin. Suffice to say, this is the beginning of the end for the public sector unions nationwide. The prognosis is terminal… thank goodness. We all know the only reason the unions exist anymore is to act as a fund-raising arm for the democratic party. Why some believe that tax dollars should be forever a source for a privileged few is beyond me. And watching this defense by the union heads and the protesters nationwide sort of reminds me of Pickett’s charge. The regiment is doomed despite their efforts.
Nom
surface water, which is the more common source for water supplies in NE is some of the more acidic water in the nation, in general. I don’t know if water treatment in NE includes pH adjustment but I doubt it.
I once bedded the wisconsin badger mascot. I made her keep the entire outfit on, mask included. I still don’t know her name or if in fact she was a she. I often think about that glorious night. You haven’t don’t anything in life if you haven’t bagged a badger. I wonder if that furry rodent thinks of me as much as I think of her.
I am the best.
Stan,
You haven’t had nothing unless you had The University of Houston’s mascot, Shasta. She was all anthropomorphic cougar, let me tell you!
170: Jay,
Are there HOA fees in that place?
Re: Distress, hire a private detective. Kidding.
Grim
are you familiar with Polski Smak at rt23 and boonton ave in butler? Nice deli
Stan – http://media.ebaumsworld.com/picture/FurryFandom/Furries.png
Stan,
Great JJ parody. Been awhile since we had a decent one.
Govenor Christie speaks plainly to the Police Unions about Pension shortfalls and reform.
http://www.youtube.com/watch?v=iYzEQ30sYlc&feature=player_embedded#at=47
I’m not comfortable with the Wisconsin situation. I find it difficult to come down on a side, have a position. On one hand, public unions are over compensated and states are going broke, not debatable. On the other hand you’re fooling yourself if you don’t think that the Koch brothers are 100% behind this and the tea party and have an evil agenda of corporate rights and complete domination of the American worker. At the face of it, we have legitimate cause, but scratch the surface and we have a disturbing long view. I can’t help but worry that the ducks are being lined up, staring with the easy shot.
Fannie and Freddie cost to taxpayer is significantly more than just the cost of their direct bailout. Changes in accounting regulation away from mark to market is a huge hidden bailout, the Fed purchase of bonds which is now greater than 1Trillion is also supporting home prices as are the many socialist bailout programs including the $3,000 California home buyer help and the various foreclosure “moratoriums”.
They will sell us the bailouts as a small price we paid for the benefit of economic stability. They’ll tell us that TARP cost less than originally anticipated and in many cases they’ll ultimately report a profit. Get ready for future bailouts as that is what they currently are marketing.
UK Wildcats playing at home! SX,brings back memories?
moose (177)-
The policy you advocate would require a course of action that would be illegal in many instances. Amazing how an alleged officer of the court has no regard for the simple concept of requiring a lender to prove standing in order to collect on a note or to foreclose.
Saying “my dog ate the note”, forging instruments ex post facto, robosigning, filing affidavits of lost notes, having unlicensed individuals illegally practice law and other types of skullduggery all seem to be OK with you. They are not OK, and there’s a reason why the letter of the law is the letter of the law and should be respected. No one more than I would love to see a logjam of foreclosures begin to break up and move forward (because people fearing imminent foreclosure call me to do short sales); the current lifeless limbo this market is in is costing me dearly, as no one in default has any current fear of being homeless soon. However, I would much rather just move on to another business pursuit than to be a cog in a bankster-driven foreclsoure machine that moves inexorably forward, whether or not individual actions that it takes might be illegal. I’m not an anarchist because I’m nuts; I’m an anarchist because I’d rather see a world with no rules than a world that has no rules but operates as though it does.
“If the net result is that without the benefit of MERS, no bank can foreclose on deadbeat home loaners, the problem remains. The property must be put in the hands of people who can afford to pay for it, at market clearing prices.”
Bitch.
Any thumb rule on how frequently one should get their home inspected to get a sense of any potential problems? After buying in mid ’09, we made some changes here and there.
189.Barbara says:
February 26, 2011 at 2:59 pm
I’m not comfortable with the Wisconsin situation. I find it difficult to come down on a side, have a position. On one hand, public unions are over compensated and states are going broke, not debatable. On the other hand you’re fooling yourself if you don’t think that the Koch brothers are 100% behind this and the tea party and have an evil agenda of corporate rights and complete domination of the American worker. At the face of it, we have legitimate cause, but scratch the surface and we have a disturbing long view. I can’t help but worry that the ducks are being lined up, staring with the easy shot.
I’m amazed that elected Senators can abandon their posts and hide in another state because they may loose a vote. They don’t understand democracy or majority rule of Law.
“Not trying to steal your thunder. we just have the same point of view on the subject.”
168 – Not really any thunder there to steal but the issue is a little more complicated than a two sentance summaries suggests. Just because its becoming more obvious that money isn’t raising test scores does not mean that we all agree. its not really a racial issue either so i disagree that everyone will suggest you are a racist if you try to penetrate deeper into the problem. Every politician in trenton probably agrees with the obvious little fact that money alone isn’t working. Problem is that the mass funnelling of the majority of our state income tax is lining the pockets of every cog in the political machine. Nobody is going to pull the plug on that cash cow. Not even christie.
195 Confused.
“I’m amazed that elected Senators can abandon their posts and hide in another state because they may loose a vote. They don’t understand democracy or majority rule of Law.”
That was the event that got me paying attention. I too find it disturbing, and I thought that as a defacto strike, it wasn’t even a legal option for elected officials.
barb, 189 is a perfect example why youre on of my fav posters at this taco stand. Plus you’re funnier than all hell.
164/165,
Dissident,
That is what the whole country is in an uproar about. Dont worry. The tit suckers are going down kicking and screaming but at the end of the day they will be gone.
Time for the generous amongst us to build some road side vegetable stands and hand out some shovels for the newly unemployed government class. Bwahahaha! How does that fist feel in your _ss now tit suckers? Bwahahahaha!
Barb, what do you think about the concession by the unions that seem to have agreed to all the cuts that Walker asked for? My prognosis: Walker will declare victory and back off in a week or two and claim that he was able to get the budget concessions from the unions.
179.
Gary,
Amen to that. How’s the job outlook looking for you?
Mossberg…
“Time for the generous amongst us to …” ask for another tax cut!
Haven’t seen anything yet as far as strikes. If the Senators don’t come back in 180 days they will no longer be residents right? Who is paying their bills to hide out in another state? Do they have jobs other than State Senator Most state congress jobs are part time.
Watch the Governor Christie he does a great job of explaining the situation we are in NJ.
http://www.youtube.com/watch?v=iYzEQ30sYlc&feature=player_embedded#at=47
189,
Barbara,
On a mainstream level the tea party has been subverted by the Neocons but on a local level is a different story. Neoconservatism is just as lethal as the marxism that has overtaken the democratic party. You end up with a pitched battle of common folks clinging to the side of communism or coporate fascism. Neither represent what the American people are looking for. As soon as some group identifies the real enemies then that group will garner the support of the majority and the games can begin. Not sure if that will ever happen though.
re 179
Doesn’t matter what happens to unions or who they contribute to. Now that the Supreme Court has ruled that corporations can make unlimited contributions to politicians, they can buy anyone they want. No other groups can match their funding and, as we know,in Amerika, our politicans are available to the highest bidder.
Of course one of the biggest elephants in the room is not dem v rep, union vs austerity, or anything to do with economic or tax policy, is the increasingly unequal distribution of income. Not one politician in dc wants to discuss why ceos (and everyone else in the top 1%) have been able to increase their incomes by a multiple of ten over the last two decades while the other 99% have experienced declining real incomes. This is not even allowed to be brought up by either party. The moment its mentioned the person is immediately hushed and demoted to a back office position with a small office in the basement. See liz warren for proof of that.
206,
Neandrathal,
I agree. When corporations control the government yet citizens continue to look for government to save them from this situation it makes for a futile situation. The income disparity is a terrible problem that cant be solved withour import tariffs and an end to globalization. We all knew what NAFTA meant for manufacturing in the US yet it passed anyway. No mature economy can compete with slave labor. Import tariffs are a necessity no matter who dislikes it.
quick point of order: the government of the US and of each state is not a democracy. Yes, we already knew that. It’s an oligarchy/corptocracy.
But it’s not even supposed to be a democracy… republic anyone?
re: #205 -Going to be a very interesting election cycle this time around. 1/2 billion spent during the last presidential election for TV ads with the lions share going to Obama. Sky is the limit for the corporations this time around, they will outspend both parties by a mile. Before the recent Supreme Court decisions the contributions were somewhat balanced they hedged bets between parties. This time there is no need to be faux partisan or a neo-something at all, they can go spend all right or all left depending on which way the wind is blowing.
Mossberg, how do you reconcile your hardline stance against unions (because union employees are overpaid compared to “market prices”) with your support for protectionism at a global scale (because “slave wages” push down true competition)?
207 when multinational corporations are allowed to exert that much control over govt policy, the whole concept of americanism (or any national affiliation) unfortunately seems to fade as we make increasing amounts of room for globalization. Maybe this type of shift is what we will consider ‘progress’ in 50 years, not different than Ely whitneys invention of interchangeable parts and the birth of assembly lines.
Sas3,
maybe, if that happens than things aren’t quite so conspiratorial. All I know is that the major funder of the circus wants collective bargaining done away with. This is about more then balancing one State’s budget, if you look into the key players.
looks like somebody is going to have to ship refined gasoline to Iraq.
http://news.yahoo.com/s/nm/20110226/wl_nm/us_iraq_oil_refinery_4
than = then
189. Neanderthal.
Thanks so much!
204.
Al, ever see the movie “Boxing Helena?” its the perfect metaphor for the American public. Also, slowly boiling a frog.
ChiFi,
I’m a coffee snob and I am very happy with that same Cuisinart. It makes a gorgeous hot cup and doesn’t burn the coffee in the pot. Just grind the beans before brewing and preferably in a burr grinder. I used to have a Caspresso (sp.) and it was the worst engineered kitchen appliance I ever used.
The whole problem with globalisation is that its not a choice, its an inevitable evolution that started hundreds of years ago.
Lib. Nothing wrong with chi’s cusinart. Its simple and probably works great but if im going in that direction im just getting a bunn machine that you see in diners. Made in america too. I really wish they brought the real coffee makers back to the office. Those vaccuum sealed automatic individual plastic sacks of coffee taste like nothing and have no smell. Id rather pop a no doz before drinking that.
217.
Neanderthal
This is why I patiently await the economic system of the United Federation Of Planets to be implemented.
Barb…I’m completely with you on the Wisconsin situation. Whichever side people fall on, it’s clear to me that the Dem Senators should be impeached for leaving the state. I also took issue with the teachers’ sick out to protest. I guess it was ‘for the children.’ I also think their governor is an uneducated a-hole and he could have stopped with the serious concessions offered, although I wouldn’t hold my breath that the union was serious about offering them. In the world I live in, unions only make concessions when the company is on the brink of bankruptcy.
Neanderthal,
I agree about those Keurigs and other cup/bag grinders. I suppose they are fine for people who like flavored coffees (taste like chemicals to me), but what you pay for a cup of coffee is completely insane, even when you get those cups on sale. The environmental damage with all that waste isn’t great either. I’m drinking perhaps the world’s best coffee for 35 cents per cup (approx).
With scenes from Urg! A Music War. Enjoy.
http://www.youtube.com/watch?v=uzFZeA4nDus&playnext=1&list=PLA3AAD5C313E08514
Libtard,
the whole country is watching, if those unions go back on those concessions, game over.
I want to see a bluff called already.
coffee is weird. I’ve been at tables with several people who will rave over the coffee being served while I find it bitter, chemically and pretty much can’t get down 1/2 a cup despite the half and half and more sugars than I care to admit.
More Montclair madness:
http://www.northjersey.com/news/116985103_Montclair_may_raise_recreation_fees.html?c=y&page=1
61% fee increases to go along with our 8% municipal tax increase. Got to pay those union raises and benefits.
cf 26 meet me at 10 pm next Saturday at Joe’s Mill Hill. You know how to Trenton, right? You just put your lips together and… We’ll take a walk down to the park off Ferry by the underpass.
Back to real estate for a moment. Essex County, I quit you.
The house, the ask, the taxes. Drink it in.
http://www.trulia.com/property/3043697591-251-S-Mountain-Ave-Montclair-NJ-07042
Barbara, try a cheap Mr. Coffee drip maker and Richfood regular.
Replace coffee maker very often.
I hate Starbucks. But then again, I drink about two pots of coffee and then buy a medium 3 creamers at McD’s on the way to work. It ain’t grand but it’s consistent.
Tassimo is horrible. Crap. Meangrean my sinus worse than thinking about Essex and bleachers.
It doesn’t surprise me when most people say they hate starbucks coffee. They actually do that to their coffee on purpose. By making the coffee extremely strong and overbearing, they cater to a small percentage of the population who actually like it. The rest of their customers are forced to buy extremely expensive and sweetened espresso drinks like lattes and frappucinos, which of course is where the highest margins are.
When the economy tanked, they had to adjust their strategy because nobody was buying the expensive specialty drinks anymore so they introduced a coffee that is actually drinkable, called pike place, and also lowered their price point so they can fend off the competition from dnd and mcdonalds. Pike place is a great cup of coffee and its also the same bean that they built their original business on before they went all corporate.
As if the margin on a $2 cup o’ Joe isn’t enough already.
Barb – That’s the Estate Section. And an over-assessed house. But seriouslt, the lot’s almost 1/2 acre, which is HUGE around these parts. You’re not getting that much land around here without an obscene tax bill unless you are living in the far south end or right near the Bullock School.
When the economy tanked, they had to adjust their strategy because nobody was buying the expensive specialty drinks anymore so they introduced a coffee that is actually drinkable, called pike place, and also lowered their price point so they can fend off the competition from dnd and mcdonlds. Pike place is a great cup of coffee and its also the same bean that they built their original business on before they went all corporate.
One more thing, Barb. We’re shopping for the house tomorrow in Middlesex County before meeting friends for Indian buffet lunch. Come on out and join us!
233. Gator,
I did not realize the lot was so big. Please, give me park front with a postage stamp yard!
233 lol. Lib, very true. I guess when you situate all your stores on the most prime real estate in the country, it takes a heck of a lot of cups of coffee to pay the lease/mortgage.
Barb 236 – Our sentiments exactly!
Barbara,
That house sold for 274K in 1996 so with a 3% to 3.5% annual appreciation, the house should be listed for 450K. Why the f*ck is there a 750K price tag in that picture? I mean… seriously… are people f*cking m0rons? Oh my G0d… please… someone… anyone… make some sense out of this!! I swear, these people are f*cking 1diots. I am so, so convinced that 99% of the population knows jack sh1t about the mechanics of money and finance. Not even a doubt.
And it’s a split level!! A split… which is the antithesis of what a town like Montclair represents. If you’re buying in Montclair and the specs don’t include terms like “mahogany”,”leaded glass” or “walk up attic” then please, don’t even waste your time.
Gator,
damn, I’m not going to be around, its my only kid free day to run around and get my daughter’s bday party stuff. What reno items bring you two down to Middlesex County?
Jealous of the Indian Buffet, I don’t get to do them like I used to, my kids prefer IHOP :P
240.
Gary
“A split… which is the antithesis of what a town like Montclair represents. If you’re buying in Montclair and the specs don’t include terms like “mahogany”,”leaded glass” or “walk up attic” then please, don’t even waste your time.”
THIS.
209.
Sas,
I am against government employee unions not private sector. Any union that derives their pay from the tax base and forwards their union dues to a political party to further that aim is a conflict of interest. Its similiar to a Dr. injecting you with a disease then benefiting monetarily from the treatment of that disease.
As far as reconciliation with fair wages I will say this. I am all for a well paid middle class. I believe it is essential to a strong economy. The only way that can be achieved is by competing on a global scale with exports which require manufacturing. We cant compete with 1 dollar/hour slave labor. We must have import tariffs to offset the slave labor of the countries that we import from. We also must produce or seek alternative energy sources. These are the main elements of our trade deficit.
In summary,
1. Import tariffs to reestablish a well paid manufacturing sector.
2. Domestic energy production.
Those 2 things will eliminate our trade deficit and lay the foundation for recovery. Granted social welfare also must be reformed but that can be another topic.
217,
Neadrathal,
Yes globalization started 100 years ago but its reached the point where a global currency is now in play. We all know how well that worked out for us with the Federal Reserve Act of 1913.
Gary bait: “I ain’t giving my house away.”
Dude, eventually a global currency is a given. Only a matter of when. Electric cars and hologram phones too. Time to move forward. Nobody is going back to gold sheckles and horse n buggies. Who moved my cheese?
#106 Still, you are less than a mile from that lovely coffee roaster in Fairway. There is nothing better than getting beans back home still warm from the roaster, grind and brew. Its better to take a cheap coffee brewed well over an expensive one brewed badly. Use clean water, don’t skimp on the coffee, brew strong and dilute with water to taste.
I have a good friend that works for Kraft. He told me that way back in the day . They had various levels of coffee from Wow, Awsome, good, Hmmm, McDs, and “is this coffee?”. Then McDs went on their marketing push to catch DD and SB and went for the Wow.
People who like the one cup coffee machine also get a woody from microwave bag popcorn……fck ’em……I can drink a venti roast from Starbucks at 11PM and go straight to bed…….I think I may have told the story of the time a guy came into SB and ordered a douple doppio espresso…..I was wide eyed! ……that will straighten the tight and curlies……
douple = double
I am totally amazed to find myself agreeing with Al (243) on tariffs and domestic energy. Unfortunately, neither is likely to happen.
Debt,
Did you see what Ashly Cole did now?
http://www.smh.com.au/sport/football/england-football-star-shoots-intern-at-chelsea-training-report-20110227-1b9nx.html
Mossberg #243,
One way to get innovation is by freeing (at least some) employees from the daily worries of job security and making them focus on big things.
Question for all people that think “others” will misuse freedom… If you are given job security and freedom to a degree to do what you want and freedom from basic worries, would you look for doing something meaningful that you like at work, or would you use that time to vegetate? Would you think others would misuse their freedom?
S
Barb, I think the conspiracy is still on. But, Walker cannot get away with it this time, just like he couldn’t get away with his antics in Milwaukee. Koch’s will find new agents to do their bidding.
S
“People who like the one cup coffee machine also get a woody from microwave bag popcorn……fck ‘em”
Lol, chi, what if you only drink one cup per day and are the only person in the house who drinks coffee?
Chifi = corksniffer
*sigh*
Is it time for a coffee tasting GTG?
How about in the next couple of weeks — in March?
sl
[221] libtard
You can get refillable filter pods for the Keurig. We bot keurigs for the moms and gave them pods too. I would use them but I don’t think the Keurig does a good job of brewing.
[256] still
great idea, and makes for a good daytime activity. Nights seem to be hard for a lot of folks.
[255] SX
“chifi=corksniffer”
ouch. That was below the belt!!!
[254] NE
I won’t get a woody from micropopcorn. Those bags give you cancer.
Neanderthal Economist says:
February 27, 2011 at 9:47 am
Lol, chi, what if you only drink one cup per day and are the only person in the house who drinks coffee?
but it is such garbage…..why not just spiked Nescafe? …or even Sanka….
My long distance dedication from chi to essex…I miss you…
http://www.youtube.com/results?search_query=vasoline+stone+temple+pilots+music+video&aq=1
yea bad coffee is bad whether brewed in one cup machine or six cup.
80 degrees and sunny here in the Keys. Sun has been so bright it just makes you feel good.
Old people love sanka. Me, id rather drink the run-off from a wet dish rag.
We are pretty picky when it comes to coffee. Have tried every brewing method and manufacturer, now french press 2 large pots each day. I buy from Costco in bulk 20 lbs of beans last a few mos. We really like Cafe Altura coffees alot. They have been consistently good.
Hate when facts in the way of a good discussion:
Accepting Gov. Walker’ s assertions as fact, and failing to check, creates the impression that somehow the workers are getting something extra, a gift from taxpayers. They are not. Out of every dollar that funds Wisconsin’ s pension and health insurance plans for state workers, 100 cents comes from the state workers.
http://blogs.forbes.com/rickungar/2011/02/25/the-wisconsin-lie-exposed-taxpayers-actually-contribute-nothing-to-public-employee-pensions/
safe (251)-
Cashley Cole is the most despised player in English football. This should put him firmly into the Gilbert Arenas/Ray Lewis category.
Hmmm… better time to buy?
Retired Bayonne schools biz administrator hired by district to collect state grant money
The Bayonne Board of Education wants to collect more than $9 million in state School Development Authority grants that’s been awarded to the district but haven’t been received; and its hired a company owned by the district’s former business administrator to collect the money.
Redcc LLC, a company owned by Clifford Doll, has been contracted to work up to 200 hours at a rate of $135 per hour to collect the grant money, according Leo Smith, the district’s current business administrator.
After 45 years with the district, Doll retired from that post on July 1.
When he retired, Doll was earning $179,928 annually. He now receives a $10,366 monthly pension, state Treasury officials said.
A 2009 audit shows that the outstanding $9.1 million represents almost half of $22 million in grants the district was awarded for 16 projects at 11 schools, including construction of new wings at several of the elementary schools.
This grant money was also slated to pay for several rehabilitation projects such as electrical and plumbing upgrades, asbestos removal, restroom improvements and new windows at schools.
Smith said all the applications and supporting information were submitted at the time of the projects and have been resubmitted “numerous times” since then.
“We are waiting for the money from th state,” Smith said. “The problem is from the state level. Since 2000, there has been a change of leadership (at the SDA seven) times. Every time the leadership changes they put in their own people in the department so there hasn’t been continuity.”
Smith said the school board appointed Redcc at a meeting in November without going out to bid because the contract was below the bid threshold, which is $36,000. He said Doll has “particular expertise” and knows exactly where “every part and parcel” of the grant-related paperwork is located.
Doll could not be reached to comment and the SDA did not immediately provide information about the status of the grants.
http://www.nj.com/hudson/index.ssf/2011/02/retired_bayonne_schools_biz_ad.html
In a mortgage case, 7-year wait for two answers….
Waiting Seven Years for Two Answers
WHEN Zella Mae Green of Georgia filed for bankruptcy to save her home from foreclosure in 2004, she and her lawyer wanted to know two things: Did she actually owe any back payments on her mortgage? And, if so, to whom?
It didn’t seem like a lot to ask. But until last week, those questions had been unanswered for seven years.
More at: http://www.nytimes.com/2011/02/27/business/27gret.html?ref=business
Re: #266 – neither does the fact that a 166 million tax cut create a 2.6 billion dollar deficit. lay them all off I say.
266.Beyond Thunderdome says:
February 27, 2011 at 4:30 pm
Hate when facts in the way of a good discussion:
Accepting Gov. Walker’ s assertions as fact, and failing to check, creates the impression that somehow the workers are getting something extra, a gift from taxpayers. They are not. Out of every dollar that funds Wisconsin’ s pension and health insurance plans for state workers, 100 cents comes from the state workers.
http://blogs.forbes.com/rickungar/2011/02/25/the-wisconsin-lie-exposed-taxpayers-actually-contribute-nothing-to-public-employee-pensions/
Good Double Speak Crock of S–t! Deferred Compensation or non Deferred Compensation is paid on the Tax Payers Dime when it is Due. Although if Wisconsin changed their Law to only Tax Public Employees for the Pension & Benefiot payouts with a special surcharge, it would be true.
The end is nigh…..
http://www.youtube.com/watch?v=c3FZtmlHwcA&feature=related
#267 Clot
Ashley, once a Gunner, always a Gunner.
Now I’m off to nurse the big kick to the Obafemi Martins, I just took.
You lie!
Ohio had the highest average price discount for foreclosed homes at almost 43 percent, followed by Kentucky at 40 percent. Tennessee, California, Pennsylvania, Illinois, New Jersey, Michigan, Georgia and Wisconsin all had average distress discounts of at least 35 percent, RealtyTrac said.
http://noir.bloomberg.com/apps/news?pid=20603037&sid=ak2va1oUBOq0