Monthly Archives: May 2011

North Jersey “Dancing along the bottom”, Central still dropping?

Posted on May 11, 2011 by grim

From the Record: Home prices stable in region Condo and co-op prices dropped more than 10 percent in the New York metropolitan area, including North Jersey, in the first quarter, but home values overall were flat from the same period … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 137 Comments

As the market changes, so do the scams

Posted on May 10, 2011 by grim

From the Philly Inquirer: ‘Flopping’ – a new type of scam in the housing market Although reports of mortgage fraud nationally fell 41 percent in 2010 from 2009, the continuing downturn in the housing market has fostered new ways of … Continue reading →

Posted in National Real Estate, Risky Lending | 107 Comments

What evidence of stabilization?

Posted on May 9, 2011 by grim

From the Asbury Park Press: NJ’s economy improves, but housing market still faces price declines Kristen Forma checks out real estate websites several times a day as she searches for a home for her family in Middletown. She does research, … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 163 Comments

Realism in style at the shore this year?

Posted on May 8, 2011 by grim

From the NY Times: In Jersey Shore Subset, Top-Heavy With Pricey Homes WHEN a newly built house beside the beach in Sea Girt went into contract for $3.6 million last month, it was sort of a good news-bad news occurrence, … Continue reading →

Posted in Economics, Shore Real Estate | 24 Comments

Squatter Rent???

Posted on May 6, 2011 by grim

From Bloomberg: ‘Squatter Rent’ May Boost Spending as U.S. Mortgage Holders Bail Melissa White and her husband stopped paying their mortgage in May 2008 after it reset to $3,200 a month, more than double the original rate. That gave them … Continue reading →

Posted in Employment, Foreclosures, National Real Estate, Risky Lending | 115 Comments

DIY buyers shun agents

Posted on May 5, 2011 by grim

From SmartMoney: Home Buyers Go Hunting Alone After years of trepidation, home buyers are finally beginning to wade back into the housing market. But as they do, many are making the surprising choice to hunt alone, rejecting the assistance of … Continue reading →

Posted in National Real Estate | 143 Comments

Will the pace of recovery be driven by shadow inventory?

Posted on May 4, 2011 by grim

From HousingWire: Shadow inventory will keep housing recovery at bay for three to four years A full housing recovery is three to four years off as the nation grapples with a shadow housing inventory of 4.5 million distressed properties, according … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 126 Comments

With the easy money gone, agents leave the business

Posted on May 3, 2011 by grim

From the Press of Atlantic City: Cape May County realtors deciding to leave industry as housing economy is slow to recover Leigh Ann Austin is putting her real estate career on hold after 30 years in the business. Austin, of … Continue reading →

Posted in Economics, New Jersey Real Estate | 92 Comments

Needs work? Buyers say no way.

Posted on May 2, 2011 by grim

From the Record: Home buyers shun ‘fixer-uppers’ In the overheated housing market of five years ago, buyers often felt they had to accept homes in woeful condition. But these days, most look at “as-is” properties and say, “No thanks.” “I … Continue reading →

Posted in New Jersey Real Estate | 189 Comments