Monthly Archives: October 2011

Reserve too high to sell largest horse farm in Jersey

Same story, different property. Seller purchased at the height of the market and current bids don’t even come close to their (in all probability) unrealistic asking price. From the Star Ledger: Perretti Farms property for auction in Burlington County does … Continue reading

Posted in Lowball, New Jersey Real Estate | 100 Comments

Q3 foreclosures fall, but indicators point to a jump on the horizon

From CNN: Foreclosures continue to plague housing market Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on. Nationwide, foreclosure filings totaled … Continue reading

Posted in Foreclosures, National Real Estate, New Jersey Real Estate | 147 Comments

Any questions?

From the Record: Wall Street job cuts may affect New Jersey’s economy New York State Comptroller Thomas P. DiNapoli said on Tuesday that he expects Wall Street to cut nearly 10,000 more jobs by the end of the year and … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 104 Comments

Anti Wallstreeters set sights on the mortgage biz

From HousingWire: Protesters descend on MBA Roughly 150 protesters gathered at the Hyatt Regency in Chicago Monday afternoon, protesting the Mortgage Bankers Association as some of the the trade group’s members looked on and snapped photos. Thousands more from various … Continue reading

Posted in Economics, Unrest | 99 Comments

Wrong title – We already made the big bet

From the WSJ: U.S. Gambles With Mortgage Retreat hree years after virtually nationalizing the U.S. mortgage market, the government has embarked on a pullback to see whether private industry picks up the slack. Some people in the housing industry worry … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 85 Comments

Dirt cheap money still not spurring the market

From the Courier News: 30-year mortgage rate falls to 3.94% Depressed by investors seeking safe-havens, the average interest rate on a 30-year fixed mortgage fell this week to its lowest level ever, 3.94 percent, mortgage company Freddie Mac reported Thursday. … Continue reading

Posted in Mortgages, National Real Estate | 81 Comments

Bailout attempt #436 – Now we’re getting interesting

From HousingWire: Bill allows tax-free use of retirement funds for mortgage payments A bill introduced in Congress would allow struggling homeowners to withdraw funds from their retirement accounts tax free to pay their mortgage. Sen. Johnny Isakson (R-Ga.) and Rep. … Continue reading

Posted in Foreclosures, Housing Recovery, National Real Estate | 123 Comments

What if NYC really is special?

From Bloomberg: New York Beats London as Top Spot for Real-Estate Investment New York overtook London as the No. 1 destination for real-estate investment for the first time since 2007 after improved access to financing spurred more U.S. deals, Cushman … Continue reading

Posted in Economics, Housing Recovery, National Real Estate, New Jersey Real Estate | 99 Comments

Average NJ Foreclosure – 708 days late

From Bloomberg: U.S. Homes in Foreclosure Average 611 Days Late on Payments U.S. homeowners facing foreclosure were a record 611 days late paying their mortgages on average as legal disputes delayed bank repossessions, Lender Processing Services Inc. said today. That … Continue reading

Posted in Foreclosures, New Development, New Jersey Real Estate | 151 Comments

RealtyTrac’s Sharga calls bottom (and gets a job at a mortgage company)

From HousingWire: Housing market hit bottom: former RealtyTrac exec The U.S. housing market hit bottom this year and will remain flat until 2014, when it will start to slowly recover, said Rick Sharga, an executive vice president with Carrington Mortgage … Continue reading

Posted in Employment, Foreclosures, Housing Recovery | 94 Comments