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Monthly Archives: April 2012
The fear is gone?
From the WSJ: Housing Ends Slide but Faces a Long Bottom Nearly six years after home prices started falling, more U.S. housing markets appear to be nearing a new phase: a prolonged bottom. Hitting a bottom, of course, isn’t the … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
138 Comments
Otteau: Big jump for March contracts
From Otteau: NJ Home Sales Up 25% YTD (Click for graph) Home sales continued to surge in March as combined purchase-contracts for resales and new homes rose by 20% in March. YTD sales are now running 25% ahead of 2011 … Continue reading
Posted in Economics, Housing Recovery, New Jersey Real Estate
76 Comments
Northeast pending home sales up 18.4% YOY in March
From Bloomberg: Pending Sales of U.S. Existing Homes Increased 4.1% in March Signed contracts to buy U.S. homes rose more than forecast in March as low interest rates drew buyers back into the market. The index of pending home purchases … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
151 Comments
Property taxes are too damn high!
From the Philly Inquirer: Realtors’ group poll: Property taxes irk N.J. residents If you want to rile a New Jersey resident, two words will do it: property taxes. Most state residents — 89 percent of the 800 registered voters surveyed … Continue reading
Posted in Economics, New Jersey Real Estate, Property Taxes
110 Comments
February Home Prices
From Bloomberg: US home prices drop for 6th straight month Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven’t been enough to boost prices. The Standard & … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
159 Comments
Is distressed the new normal?
From CNBC: Short Sales Higher, Prices Lower Buyer traffic is strong, supply of homes for sale is low, and yet home prices continue to defy the usual formula, falling again in March. Prices usually rise as supply shrinks, but demand … Continue reading
How North Jersey came to be
From the Record: Our growing ‘City of North Jersey’: How we got here and where we are going It’s not surprising that Englewood chose to name its high school for Dwight Morrow, a city resident who was a U.S. senator, … Continue reading
Posted in Economics, New Development, North Jersey Real Estate
112 Comments
How much higher can NYC rents go?
From the NY Times: The City of Sky-High Rent GARY L. MALIN, the president of Citi Habitats, the city’s largest rental brokerage firm, has seen the real estate market at its giddiest heights and its deepest despair. There should be … Continue reading
Posted in Economics, NYC
90 Comments
New Jersey loses jobs in March
From the Record: Loss of 8,600 NJ jobs clouds economic picture Optimism that New Jersey’s economy is on the rebound took a beating Thursday with the release of figures showing the state lost 8,600 jobs in March, the first decline … Continue reading
Posted in Economics, New Jersey Real Estate
131 Comments
March Existing Home Sales
From Bloomberg: U.S. Existing-Home Sales Probably Rose Sales of previously owned U.S. homes probably increased in March as a drop in mortgage rates propelled demand to its strongest quarter in almost two years. Purchases climbed 0.7 percent to a 4.62 … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
155 Comments
Expected the best, but worst still better than last year
From Bloomberg: Housing Data Disappoint … Again So the latest housing number is kind of bad: 654,000 new units were started in March, 5.8 percent below the revised February numbers. Economists surveyed by Bloomberg were expecting something considerably higher. The … Continue reading
Posted in Economics, Housing Recovery, New Development
118 Comments
Income or Property Tax Cut – Which would you prefer?
Editorial on NJ Property Taxes from the Philly Inquirer: N.J. needs property-tax relief, not income The one thing that seems to get otherwise rational New Jersey residents to foam at the mouth is the state’s punishing property-tax system. Property owners … Continue reading
Posted in Economics, New Jersey Real Estate, Politics, Property Taxes
168 Comments
Surprise! Rents are high here too.
From the Press of Atlantic City: Rents in New Jersey the third-highest in the nation A new survey has found that state residents continue to pay some of the highest rents in America, making it difficult to afford an apartment … Continue reading
Posted in Economics, New Jersey Real Estate
125 Comments
Risky loans bite Jersey banks
From the Record: North Jersey banks repossessed more properties In banking, OREO is not a cookie, and there’s no sugary frosting in the middle. It’s an acronym for one of the industry’s most unpleasant statistics, Other Real Estate Owned, which … Continue reading
Posted in Economics, Foreclosures, Risky Lending
41 Comments
Are those rising prices on the horizon? Or just a mirage?
From Reuters: Home prices close to bottoming, to rise in 2013 The relentless decline in home prices is nearing an end and prices should rise for the first time in seven years in 2013, but a possible new wave of … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
109 Comments