Monthly Archives: April 2013

Otteau: NJ market “will swallow these foreclosures whole without even chewing on them.”

From the Star Ledger: Foreclosures in New Jersey still up, but correcting course Foreclosures continue to climb in New Jersey from last year, but at a slower pace than other states that saw an increase, according to data from RealtyTrac. … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 85 Comments

Think you escaped Sandy? Think again.

From Reuters: In New Jersey, spared by Sandy but paying the price in taxes Philip Checchia’s home in Barnegat, New Jersey, escaped undamaged from Hurricane Sandy in October, but the 67-year-old is bracing for a different kind of storm damage … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 65 Comments

Condo boom continues on the Gold Coast

From the NYT: New Jersey Condo Market Heats Up as Demand Surges After years of stagnating sales, the New Jersey condominium market is finally warming up, with developers building again and potential owners buying from floor plans. A handful of … Continue reading

Posted in Economics, Housing Recovery, New Development, New Jersey Real Estate | 81 Comments

North Jersey Contracts – March 2013

Here it is! The first look at pending home sales (contracts) for Northern NJ. (Source GSMLS, except Bergen- NJMLS) – Updated with 2011 Data March Pending Home Sales (Contracts) ——————————- Bergen County March 2011 – 708 March 2012 – 825 … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 149 Comments

Did the Fed kick-start housing or not?

From the WSJ: Housing Prices Are on a Tear, Thanks to the Fed The U.S. housing market has broken out of a deep slump, and prices are shooting up faster than anyone thought possible a year ago. For many homeowners, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 100 Comments

Foreclosure Enron?

From DealBook/NYT: Blame Abounds Over a Flawed Foreclosure Review Private consultants and federal regulators are facing a fresh round of scrutiny in Washington after botching a broad review of foreclosures and failing to thwart financial misdeeds. A new report by … Continue reading

Posted in Mortgages, National Real Estate, Politics, Risky Lending | 86 Comments

NJ home prices make positive progress, but still lag the nation

From the Star Ledger: Home prices reflect largest year-to-year increase since 2006 A New Jersey home worth $300,000 in February 2012 is now worth about $311,000, according to a home price index released yesterday. The 3.7 percent increase over last … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 154 Comments

Immigrants to be the driving force behind recovery?

From Bloomberg: Immigrant Dreams to Keep Sparking U.S. Housing Recovery Efforts to revamp U.S. immigration laws may bring at least one unintended benefit for the economy: The nascent housing recovery will probably get an added boost. The number of foreign-born … Continue reading

Posted in Demographics, Economics, Housing Recovery, National Real Estate | 107 Comments

Clear Capital: Price declines? Not this year.

From HousingWire: Home prices expected to remain positive in 2013 Home prices nationwide are going into the second quarter on solid ground and are expected to remain positive throughout the year, according to data from Clear Capital. For the nation, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 104 Comments

Cost to raise a kid in Manhattan just went up by $6.2 million

From the Atlantic: A $6.2 Million Apartment for a 2-Year-Old? Such is NYC’s Luxury Housing Market Talk about investing in the future. A Chinese woman recently purchased a $6.5 million condo in the One57 building in Midtown Manhattan, which is … Continue reading

Posted in Humor | 62 Comments