Monthly Archives: May 2013

Hey Rich New Jersey – PAY UP!

Posted on May 13, 2013 by grim

From the Record: Jackson: If D.C. reform kills property tax write-offs, N.J. will feel the pain Several deductions that help offset the high cost of housing in North Jersey and the property taxes that come with it may be scaled … Continue reading →

Posted in National Real Estate, Politics, Property Taxes | 84 Comments

Buyer must feed squirrels

Posted on May 12, 2013 by grim

From the NYT: In a housing market starved for inventory, buyers are stepping over one another to bid on desirable properties. But a high bid may not be enough — sellers are also seeking offers without mortgage contingencies. Usually included … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 11 Comments

Only up from here? Or bubble beware?

Posted on May 10, 2013 by grim

From the WSJ: Housing Rebound Grows as Prices Climb Sharply Home prices in metropolitan areas saw their biggest year-over-year gains in more than seven years in the first quarter, evidence that the housing recovery is spreading across the nation. The … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 95 Comments

NJ foreclosures up 138% in April

Posted on May 9, 2013 by grim

From the Record: New Jersey foreclosures starts climb Foreclosure filings in New Jersey, which had been held up by legal issues, spiked to the highest levels in more than two years in April as a long-running logjam in the courts … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 125 Comments

Increasing expectations for continued growth in home prices

Posted on May 8, 2013 by grim

From the WSJ: Fannie: Over 50% of Americans Expect Home Prices to Climb, First Time in Survey’s History More than half of Americans now expect the country’s home prices to climb within the next year, illustrating a growing optimism toward … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 91 Comments

North Jersey Contracts – April 2013

Posted on May 7, 2013 by grim

Here it is! The first look at pending home sales (contracts) for Northern NJ. (Source GSMLS, except Bergen- NJMLS) – Updated with 2011 Data April Pending Home Sales (Contracts) ——————————- Bergen County April 2011 – 669 April 2012 – 812 … Continue reading →

Posted in Economics, Housing Recovery, New Jersey Real Estate | 100 Comments

Obamahouse?

Posted on May 6, 2013 by grim

From CNBC/The Street: Mortgage Forgiveness Presents Challenges in Housing Recovery Deeply indebted homeowners with government-backed mortgages may have a fresh shot at receiving meaningful mortgage relief, but it will likely come with strings attached. Earlier this week, President Obama nominated … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Politics | 56 Comments

Price increases cause affordability to dip

Posted on May 4, 2013 by grim

From HousingWire: New Jersey home affordability drops in 1Q New Jersey home prices are on the rise for the second consecutive quarter as a result of purchase demand and tight inventory levels. These two factors tend to make homes less … Continue reading →

Posted in Economics, Housing Recovery, New Jersey Real Estate | 37 Comments

Secret listings, secret sales, do buyers have any chance?

Posted on May 3, 2013 by grim

From CNN Money: Secret ‘Pocket Listings’ Return in Hot Housing Markets The housing rebound has given new life to an old, but little-known sales practice called “pocket listings,” where agents reserve homes for serious buyers only. Most homes that are … Continue reading →

Posted in National Real Estate | 144 Comments

Why do people own? Why do people rent?

Posted on May 1, 2013 by grim

Insightful poll by Gallup, hat tip to Ritholtz: U.S. Homeowners’ Reasons for Owning More Than Financial

Posted in Demographics, Economics, National Real Estate | 140 Comments

Is the rise in prices sustainable? (No, probably not)

Posted on May 1, 2013 by grim

From the WSJ: Home prices are rising at the fastest rate in seven years, with some communities seeing double-digit gains, as buyers are returning to a market where the number of properties for sale is in short supply. Prices increased … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 79 Comments