From the WSJ:
Fannie Mae: Consumer Confidence in Housing Slackens a Bit
Consumer confidence in the housing recovery has leveled off, likely connected to concerns that the Federal Reserve will cut back on asset purchases, according to new data from mortgage-finance company Fannie Mae (FNMA).
Americans, already pessimistic regarding their personal finances and the economy, demonstrated declining optimism in August across key housing-market measures. Those saying it would be a good time to sell a house declined four percentage points to 36% from July, and those saying it’s a good time to buy a house decreased three percentage points to 71%.
According to the survey, the share of consumers who believe home prices will go up in the next year rose two percentage points to 55%.
“The spike in mortgage rates associated with the possibility that the Fed will begin to wind down its asset purchase program later this month has dampened the improving trend in consumer sentiment regarding housing witnessed in our survey since the start of this year,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
The average 12-month home price change expectation decreased slightly to 3.5%, Fannie Mae said. The percentage of respondents who think mortgage rates will go up decreased two percentage points to 60% from last month’s survey high.
The average 12-month rental price expectation fell slightly to 4.1%.
The share of respondents who said they would buy if they were going to move increased slightly to 65%, while the share who said the economy is on the right track fell three percentage points from July to 37%.
The percentage of respondents who expect their personal financial situation to get better over the next year edged up one percentage point to 44%. The number of respondents who said their household income is significantly higher than it was a year ago fell three percentage points to 23%.
S&P Trading volume at 15 year low . Oh, well . Keep printing
From the WSJ:
Mortgage Lenders, Home Buyers Feel Rate Squeeze
A rise in interest rates is slamming homeowners’ demand for mortgages, prompting large and midsize banks to cut jobs and warn investors of declining profitability in the home-loan business.
Wells Fargo & Co., the nation’s largest mortgage company by loan value, on Monday told investors at a conference that it expects mortgage originations to drop nearly 30% in the third quarter to roughly $80 billion, down from $112 billion in the second quarter.
J.P. Morgan Chase & Co., the largest U.S. bank as measured by assets, said during the conference sponsored by Barclays PLC that it expects to lose money on its mortgage-origination business in the second half of the year. On Aug. 29, Bank of America Corp., notified about 2,100 employees that they were being let go largely due to a decline in refinancing activity, said a bank spokesman.
Mortgage originations include loans for home purchases and refinancings.
…
The warnings come even though the U.S. housing market is posting its strongest year-over-year gains since the tail end of the real-estate boom in 2006. Many lenders had ramped up their mortgage businesses in the past two years to take advantage of a surge in refinancing activity that was spurred by historically low rates.
Ultimately, big banks should benefit as they will be able to raise interest rates on new loans. That will widen the gap between their cost of borrowing and the income they earn from lending. But that won’t happen for several months, as banks work through pending applications and loans.
…
San Francisco-based Wells Fargo, which financed nearly one in four U.S. mortgages in the second quarter, has already cut 3,000 jobs in the mortgage business since July. The reductions represent roughly 1% of the bank’s total workforce.
…
The slowdown is perplexing to industry veterans like Gerald Lipkin, who has been chief executive of New Jersey lender Valley National Bancorp since 1989.
Mortgage volumes are “way down” at the bank even though Valley already has switched its focus away from refinancing deals to new home loans, he said. Mortgages represent roughly 20% of Valley’s loan portfolio.
Mr. Lipkin said rates are still at historically low levels despite the recent increase.
“I remember when mortgage rates were 14% and if you got a loan at 12%, everyone thought it was terrific,” he said.
Red the Story then the comments.
http://www.nytimes.com/2013/09/09/opinion/keller-our-new-isolationism.html?pagewanted=2&ref=general&src=me&_r=0#commentsContainer
http://observer.com/2013/09/polly-go-lightly-buying-a-new-york-city-apartment-at-the-tender-age-of-22/
After calculating my purchase price based on a monthly payment of $2,000, I realized a small purchase was feasible and a sound investment. With some $50,000 in the bank—a nest egg from my family augmented by savings that I’d stashed away by working in retail since the age of 14—I settled on a budget of approximately $250,000 and began searching listings and seeking real estate agencies and brokers.
From CNBC:
Yep, it’s another housing bubble
Four months ago something troubling happened in the housing market. The home price affordability index tracked by the National Association of Realtors slipped below it’s long-term trend line, marking a possible beginning of a housing bubble.
On Monday, we got the fourth month of home affordability data coming in below trend, which is a strong confirmation that the housing market is once again in a bubble.
…
The index has been dropping rapidly since peaking in January at 210.7. We’re now down to 157.8, according to the preliminary numbers released for July on Monday. Home prices have been rising and interest rates climbing, while wages haven’t kept up. That’s how we got to the lowest level of affordability seen since July of 2009.
According to the NAR, this shouldn’t be dire news. A score of 157.8 officially indicates that a household earning the median income has 57.8 percent more income than needed to get a mortgage on a median priced home.
…
Unfortunately, it’s not clear that the index is very useful on its face. The index has never, in fact, dipped below 100 since the late 1990s. Even during the height of the last housing bubble, the indexes lowest score was 101—the affordability nadir hit in July 2006. This is what has led folks like Barry Ritholtz to declare the index “useless.”
NOTE: hereby officially endorse Bill de Blasio to be the next major of New York City.
“Primary Day forecasts called for sunny skies and temperatures in the mid-80s, clearing away any weather-related obstacles to voting. But election observers expected fewer than 800,000 of the city’s 3.4 million registered Democrats and Republicans to cast ballots. The low turnout expectation put a premium on get-out-the-vote efforts, which were much in evidence on Monday, as union leaders, local elected officials and others with a stake in the outcome helped mobilize residents to make the trip to the polls on Tuesday.
The candidates made their final appeals in radio interviews, subway station appearances and strolls through commercial districts around the five boroughs.”
From CNBC:
About 2.5 million homes no longer underwater
As home prices rose in the second quarter, millions of borrowers regained equity, according to data released Tuesday.
About 2.5 million homes swung to positive equity in the second quarter, meaning that their owners no longer owed more on a mortgage than the home was worth, according to a report from CoreLogic, an Irvine, Calif.-based analysis firm.
Meanwhile, the likelihood that a home was “underwater” dropped. At the end of the second quarter, 14.5% of all mortgaged residential properties had negative equity, compared with 19.7% at the end of the first quarter.
But the news wasn’t all good. There are still millions of underwater homes — about 7.1 million at the end of the second quarter. And more than 10 million other homes that have slim equity levels, meaning that it would be difficult for borrowers to qualify to refinance and make their homes more affordable.
Overall, the report paints a picture of a national housing market that is seeing a lopsided recovery. For one, higher valued homes are more likely to have equity.
Also, certain areas continue to be much worse off than others. Just five states — Nevada, Florida, Arizona, Michigan and Georgia — accounted for 35% of all U.S. negative equity in the second quarter. Among those five states, Nevada is having the toughest time: 36% of all mortgaged homes there had negative equity.
Cue accusations of manipulation –
According to the Q2 Core Logic Negative Equity Report:
91.5% of homeowners in the NY metro are in positive equity (NY-Wayne-White Plains)
85% of NJ homeowners are in now in positive equity
Edison-New Burnswick Metro Area – 87% in positive equity
Nassau-Suffolk an amazing 92.3%
Philly Metro a stratospheric 93.4%
[6] anon,
For once I agree with you. I love the idea of NYC being led by an unabashed Red Sox fan.
Part of our conspiracy to kill off NYCs economy and bring the city to its knees. BWAHAHAHAHA
I would like to see percentage of homeowners irregardless of a mortgage who are in positive equity.
My neighbor down the block bought their house at the peak for 550K, cash. It is worth now 450K according to NAR they are in positive equity.
Nassau county places like Long Beach, East Rockaway, Atlantic Beach, Lido Beach, Point Lookout and Island Park that got totally devastated by Sandy and many houses lacked flood insurance. There were tons of older folk with no mortgage who bought those homes for between 13k and 100k. I drive by ten abandoned homes every morning on way to train. According to Realtors these Folks all have positive equity!!!!!!! Your home that was worth 540K in 2007 that a orthodox jew is waiving a check for 140k for you house so he can demo it the NAR would say you have 140K equity!!!!!! Yea old lady dance.
91.5% of homeowners in the NY metro are in positive equity (NY-Wayne-White Plains)
85% of NJ homeowners are in now in positive equity
Edison-New Burnswick Metro Area – 87% in positive equity
Nassau-Suffolk an amazing 92.3%
Philly Metro a stratospheric 93.4%
91.5% of homeowners in the NY metro are in positive equity.
Great! Everyone is fat and solvent! Where’s the inventory?
I wouldn’t even call what Putin did to Oblama a b1tch slap. It’s two levels beyond.
Great! Everyone is fat and solvent! Where’s the inventory?
Those saying it would be a good time to sell a house declined four percentage points to 36% from July
grim [13],
Why? I keep hearing how prices are going up and multiple offers are back in vogue!
Fast Eddie I never thought I would see someone more incompetent than Jimmy Carter on foreign policy in my lifetime, but that that mark has been exceeded by world record incompetence. To the point that I’m sure some third world tin pot dictator could shoulder feint Chairman O and he would run cowering into the corner. Kudos to congress for finally growing a pair and saying hey wait a minute isn’t our job to vote on bombing people.
On topic our house assessed for less than we paid but that was only by 20K. did not care one way or the other.
Painhrtz,
I guess that red line faded to pink very quickly! LOL!
14 – Yep – And it’s crazy. Local closings above asking in just the last two weeks (Essex, Morris, Passaic, Somerset, Sussex, Union)… Sorry for the dump (this isn’t all north jersey counties, doesn’t include bergen either).
225 Midland Ave Montclair Twp. LP: 1195000 SP: 1350000
16 Prospect Ave Montclair Twp. LP: 719000 SP: 849000
8 Wellesley Rd Montclair Twp. LP: 649000 SP: 765000
108 Shrewsbury Dr Livingston Twp. LP: 949000 SP: 1050000
85 THOMASTOWN RD Mine Hill Twp. LP: 274990 SP: 367050
58 West End Ave Summit City LP: 1450000 SP: 1535000
79 THOMASTOWN RD Mine Hill Twp. LP: 309990 SP: 389170
45 School Ave Chatham Twp. LP: 749900 SP: 829000
201 Highland Ave Montclair Twp. LP: 799000 SP: 876000
610 ST MARKS AVE Westfield Town LP: 1225000 SP: 1300000
31 Undercliff Rd Millburn Twp. LP: 779000 SP: 850000
100 Kimball Ave Livingston Twp. LP: 679900 SP: 750000
83 Thomastown Rd Mine Hill Twp. LP: 309990 SP: 375914
465 Baldwin Rd Maplewood Twp. LP: 489000 SP: 550000
46 Spenser Dr Millburn Twp. LP: 1300000 SP: 1360000
24 Burnet St Maplewood Twp. LP: 579000 SP: 635000
266 Clarken Dr West Orange Twp. LP: 350000 SP: 401000
70 Burnt Hill Rd Montgomery Twp. LP: 359890 SP: 410001
47 Stanley St Clifton City LP: 180000 SP: 230000
984 Salem Rd Union Twp. LP: 115000 SP: 165000
87 THOMASTOWN RD Mine Hill Twp. LP: 274990 SP: 324570
372 Forest Ave Glen Ridge Boro Twp. LP: 459000 SP: 505000
512-514 Jersey Ave Elizabeth City LP: 339000 SP: 385000
214 Glen Ave Millburn Twp. LP: 549000 SP: 592500
120 Riverwood Ave Bedminster Twp. LP: 725000 SP: 765000
33 Totten Dr Bridgewater Twp. LP: 900000 SP: 940000
23 Deerfield Rd New Providence Boro LP: 570000 SP: 610000
18 Ashland Rd Summit City LP: 515000 SP: 555000
81 THOMASTOWN RD Mine Hill Twp. LP: 294990 SP: 334279
43 PARKVIEW DR Millburn Twp. LP: 699000 SP: 736000
21 Pihlman Place Chatham Boro LP: 559000 SP: 595000
32 Chancellor Way Washington Twp. LP: 839995 SP: 875010
136 Greenwood Dr Millburn Twp. LP: 840000 SP: 875000
186 Linden Ave Springfield Twp. LP: 420000 SP: 455000
124 Dixon Ave Paterson City LP: 35000 SP: 68775
12 Carey Ct Montclair Twp. LP: 379000 SP: 410000
9 Hamilton St Madison Boro LP: 999000 SP: 1030000
5 Willow Dr Randolph Twp. LP: 419900 SP: 450100
52 Palomino Trl Vernon Twp. LP: 409900 SP: 440000
1056 Dell Wood Rd Bridgewater Twp. LP: 349900 SP: 379500
10 Prospect Ave Montclair Twp. LP: 699000 SP: 727000
29 Cross St Montclair Twp. LP: 200000 SP: 227000
30 Elliott St Morristown Town LP: 269000 SP: 296000
15 Inwood Rd Millburn Twp. LP: 899000 SP: 925000
119 Hillcrest Ave Cranford Twp. LP: 599000 SP: 625000
394 South St New Providence Boro LP: 629000 SP: 655000
166-168 Granite Ave Paterson City LP: 100000 SP: 125000
521 Leo St Hillside Twp. LP: 24900 SP: 49000
21 Salter Pl Maplewood Twp. LP: 568000 SP: 591250
90 Kimball Ave Livingston Twp. LP: 387000 SP: 410000
239 Elkwood Ave New Providence Boro LP: 559000 SP: 582000
616 SO ORANGE AVE, 7E Maplewood Twp. LP: 349900 SP: 370000
215 Bamford Ave Hawthorne Boro LP: 394900 SP: 415000
290 Speer Ave Clifton City LP: 255000 SP: 275000
22 Huntington Rd Bernards Twp. LP: 710000 SP: 730000
29 Oak Ln Verona Twp. LP: 281300 SP: 300000
212 County Line Rd Branchburg Twp. LP: 384900 SP: 402000
240 Welch Way Westfield Town LP: 549900 SP: 566000
67 Irving Ave Livingston Twp. LP: 449000 SP: 465000
523 Summit Ave Maplewood Twp. LP: 434500 SP: 450000
6 Hilldale Rd Montville Twp. LP: 389850 SP: 405000
23 Charles St Livingston Twp. LP: 365000 SP: 380000
16 Koewing Pl West Orange Twp. LP: 400000 SP: 415000
54 Viola Ave Clifton City LP: 130000 SP: 145000
602 Maple Ave Linden City LP: 60000 SP: 75000
1293 Wood Valley Rd Mountainside Boro LP: 350000 SP: 365000
237 Runnymede Pky New Providence Boro LP: 535000 SP: 550000
14 Mews Ln South Orange Village Twp. LP: 275000 SP: 289000
59 Bryant Dr Livingston Twp. LP: 425000 SP: 438000
19 Greenwood Drive Millburn Twp. LP: 779000 SP: 792000
75 Horseneck Rd Montville Twp. LP: 317500 SP: 330000
824 Coolidge St Westfield Town LP: 629000 SP: 641500
29 Marjaleen Dr Randolph Twp. LP: 719000 SP: 731000
919 Sheridan Ave Roselle Boro LP: 79900 SP: 91500
5 Tuttle Ct Hillsborough Twp. LP: 599900 SP: 611000
9 Northfield Ct Livingston Twp. LP: 589000 SP: 600000
34 Candlewood Dr New Providence Boro LP: 799000 SP: 810000
1722 Nevada St Westfield Town LP: 649000 SP: 660000
232 E MC CLELLAN AVE Livingston Twp. LP: 375000 SP: 385999
67 Highland Trl Denville Twp. LP: 260000 SP: 270500
96 ESSEX AVENUE Glen Ridge Boro Twp. LP: 549900 SP: 560000
114 W Hanover Ave Randolph Twp. LP: 469900 SP: 480000
205-207 Lexington Ave Paterson City LP: 169900 SP: 180000
331 Wilshire Dr Nutley Twp. LP: 399999 SP: 410000
16 Karen Way Summit City LP: 569999 SP: 580000
697 Springdale Ave East Orange City LP: 125000 SP: 135000
19 Louisburg Sq Verona Twp. LP: 325000 SP: 335000
62 Glenwood Dr North Haledon Boro LP: 550000 SP: 560000
63 Bellot Rd Ringwood Boro LP: 180000 SP: 190000
1093 Fairview Pl Hillside Twp. LP: 135000 SP: 145000
775 Fairacres Ave Westfield Town LP: 619000 SP: 629000
101 Sherman Avenue Glen Ridge Boro Twp. LP: 750000 SP: 759900
41 MT KEMBLE AVE 201 Morristown Town LP: 224900 SP: 234500
609 Binghampton Ln Livingston Twp. LP: 519900 SP: 529000
124 York Dr Montgomery Twp. LP: 599900 SP: 609000
138 OVERLOOK TERR Bloomfield Twp. LP: 479000 SP: 488000
12 Winding Way Hillsborough Twp. LP: 349900 SP: 358000
50 Hickory Dr Maplewood Twp. LP: 868000 SP: 876000
7 Sampson Ave Rockaway Twp. LP: 175000 SP: 183000
10 Sparrow Ln Washington Twp. LP: 425000 SP: 433000
907-11 FERNWOOD AVE Plainfield City LP: 205000 SP: 213000
15 David St Rockaway Twp. LP: 230000 SP: 237525
6-N DORADO DR Morristown Town LP: 379900 SP: 387000
53 Cedar St Cedar Grove Twp. LP: 358000 SP: 365000
198 Greenwood Dr Long Hill Twp. LP: 418000 SP: 425000
178-80 CEDAR ST North Plainfield Boro LP: 95000 SP: 102000
345-347 Ellery Ave Newark City LP: 64900 SP: 71600
17 S Washington Valley Rd Washington Twp. LP: 275000 SP: 281500
3 Cambridge Ct Montgomery Twp. LP: 579999 SP: 586000
223 Baldwin St Bloomfield Twp. LP: 269000 SP: 275000
136 Eileen Dr Cedar Grove Twp. LP: 889000 SP: 895000
35 Mounthaven Dr Livingston Twp. LP: 429000 SP: 435000
559 Summit Ave Maplewood Twp. LP: 399000 SP: 405000
151 N.Wyoming Ave South Orange Village Twp. LP: 559000 SP: 565000
255 Morris Ave Mountain Lakes Boro LP: 789000 SP: 795000
35 Church Rd Randolph Twp. LP: 515000 SP: 521000
616 Huff Ave Manville Boro LP: 129000 SP: 135000
14 Berkeley Square Berkeley Heights Twp. LP: 520000 SP: 525700
14 Pierson St Rockaway Twp. LP: 339339 SP: 345000
43 Maxim Dr Hopatcong Boro LP: 225000 SP: 230500
561 Leo St Hillside Twp. LP: 99000 SP: 104500
31 Valencia Isle Dr Jefferson Twp. LP: 435000 SP: 440200
22 Levitan Lane Mendham Twp. LP: 219900 SP: 225000
10 Lynn Ct Morristown Town LP: 434900 SP: 440000
12 Player Pl Mount Olive Twp. LP: 419900 SP: 425000
8 Cedar Ridge Lane Randolph Twp. LP: 419900 SP: 425000
41-B VREELAND AVE Bloomingdale Boro LP: 159900 SP: 165000
279 Janine Way Bridgewater Twp. LP: 409900 SP: 415000
43 FIFTEENTH ST Franklin Twp. LP: 209900 SP: 215000
528 Beechwood Rd Linden City LP: 339900 SP: 345000
914 Cleveland Ave Westfield Town LP: 399900 SP: 405000
15 Lincoln Ave Livingston Twp. LP: 384999 SP: 390000
18 Janelle Blvd Parsippany-Troy Hills Twp. LP: 549999 SP: 555000
14 Parkview Rd Washington Twp. LP: 409999 SP: 415000
405 W Broad St Westfield Town LP: 219999 SP: 225000
92 N Rockledge Dr Livingston Twp. LP: 730000 SP: 735000
16 Norfolk Ave Maplewood Twp. LP: 575000 SP: 580000
380 N Mountain Ave Montclair Twp. LP: 615000 SP: 620000
7 Redman Ter West Caldwell Twp. LP: 495000 SP: 500000
16 Van Nostrand Ave Dover Town LP: 200000 SP: 205000
173 Mt Kemble Ave Morris Twp. LP: 375000 SP: 380000
44 Ridgedale Ave, Unit 6 Morristown Town LP: 250000 SP: 255000
21 Kitchell Ave Wharton Boro LP: 230000 SP: 235000
25 Ivanhoe Ln Clifton City LP: 365000 SP: 370000
20 Alpine Dr North Haledon Boro LP: 675000 SP: 680000
23 Stone Run Rd Bedminster Twp. LP: 412000 SP: 417000
349 Homestead Rd Hillsborough Twp. LP: 345000 SP: 350000
31 Forest Brook Dr North Plainfield Boro LP: 150000 SP: 155000
33 Cayuga Rd Cranford Twp. LP: 369900 SP: 373000
40 Myrtle Ave Nutley Twp. LP: 234999 SP: 238000
76 Oak Ridge Rd Clifton City LP: 292000 SP: 295000
24 CASTLE DRIVE Berkeley Heights Twp. LP: 369000 SP: 372000
7 Sheridan Rd, aka 9 Summit City LP: 629000 SP: 632000
1298 MARCELLA DR Union Twp. LP: 175000 SP: 178000
596 CHESTNUT ST B Union Twp. LP: 59900 SP: 62500
100 Heritage Ct Montville Twp. LP: 429999 SP: 432500
851 Milton Blvd Rahway City LP: 165000 SP: 167300
62 Faith Ct Newark City LP: 65000 SP: 67200
60 Tarn Dr Parsippany-Troy Hills Twp. LP: 439500 SP: 441700
11 Carolyn Pl Washington Twp. LP: 389900 SP: 392000
6 Ashwood Ter Hillsborough Twp. LP: 417900 SP: 420000
93 Hill St Bloomfield Twp. LP: 147000 SP: 149000
6 CLIFFSIDE TRAIL Denville Twp. LP: 250000 SP: 252000
78 Eastern States Pkwy Somerville Boro LP: 278000 SP: 280000
1550 Frank St Scotch Plains Twp. LP: 419000 SP: 421000
25 Robin Drive Jefferson Twp. LP: 392500 SP: 394000
29 Bloomingdale Dr Apt 1d Hillsborough Twp. LP: 230500 SP: 232000
46 Jackson Ave Montgomery Twp. LP: 349500 SP: 351000
5 Byrne Rd West Orange Twp. LP: 269900 SP: 271000
28 Wharton Ave Mine Hill Twp. LP: 419900 SP: 421000
14 Evergreen Ter Millburn Twp. LP: 599000 SP: 600070
136 Nutley Ave Nutley Twp. LP: 274999 SP: 276000
619 RIDGEWOOD ROAD Maplewood Twp. LP: 1050000 SP: 1051000
464 Kingsland St Nutley Twp. LP: 309000 SP: 310000
7 Elmwood Ter West Caldwell Twp. LP: 229000 SP: 230000
10 Condict Rd Roxbury Twp. LP: 149000 SP: 150000
33 Normandy Dr Wayne Twp. LP: 549000 SP: 550000
59 Keystone Court Bernards Twp. LP: 1499000 SP: 1500000
509 Columbia Cmn Hillsborough Twp. LP: 224000 SP: 225000
15 WESTFIELD AVENUE Clark Twp. LP: 104000 SP: 105000
606 Hory St Cranford Twp. LP: 400000 SP: 401000
241-PT STILES ST Elizabeth City LP: 74000 SP: 75000
205 Harding Rd Scotch Plains Twp. LP: 299000 SP: 300000
10 Eastham Scotch Plains Twp. LP: 299000 SP: 300000
10 Winfield Way Springfield Twp. LP: 649000 SP: 650000
1 Edgehill Rd West Orange Twp. LP: 599000 SP: 599999
22A LAKESIDE DR Millburn Twp. LP: 275000 SP: 275555
111 Hutton Rd Clifton City LP: 279500 SP: 280000
14 Nassau Street North Haledon Boro LP: 269000 SP: 269500
48 Falcon Ridge Way N Hamburg Boro LP: 70000 SP: 70500
862 County Rt 517 Vernon Twp. LP: 190000 SP: 190500
53 Haggerty Dr West Orange Twp. LP: 599000 SP: 599400
54 Catherine St Bloomingdale Boro LP: 197775 SP: 198000
14 Darlington Dr Wayne Twp. LP: 634900 SP: 635100
12 Alden Pl Maplewood Twp. LP: 359900 SP: 360000
144 Lakeside Dr Nutley Twp. LP: 339900 SP: 340000
580 Bloomfield Avenue 10A West Caldwell Twp. LP: 229900 SP: 230000
92 Mackenzie Ln S Denville Twp. LP: 644800 SP: 644900
809 BROOK HOLLOW DRIVE Hanover Twp. LP: 384900 SP: 385000
10 Crenshaw Dr Mount Olive Twp. LP: 419900 SP: 420000
4 Patchbox Ct Parsippany-Troy Hills Twp. LP: 549900 SP: 550000
56 Quaker Ave Randolph Twp. LP: 329900 SP: 330000
2 Old Coach Rd Randolph Twp. LP: 534900 SP: 535000
31 Valley View Rd Rockaway Boro LP: 209900 SP: 210000
71 Ardmore Ave Clifton City LP: 289900 SP: 290000
1360 Hamburg Tpke – unit 505 Wayne Twp. LP: 369900 SP: 370000
53 Reidy Pl West Milford Twp. LP: 184900 SP: 185000
20 Crestmont Dr Hillsborough Twp. LP: 449900 SP: 450000
28 E Shore Trl Hardyston Twp. LP: 169900 SP: 170000
43 GREAT GORGE TER Vernon Twp. LP: 49900 SP: 50000
17 Village Way Unit 7 Vernon Twp. LP: 174900 SP: 175000
55 Nomahegan Ct Cranford Twp. LP: 459900 SP: 460000
Yes, of course, putting aside the hundreds of thousands of lives lost and thrillions of USD spent by W in support of corporate interests in Iraq/Afghanistan
“I never thought I would see someone more incompetent than Jimmy Carter on foreign policy in my lifetime,”
Where did you read that?
1.freedy says:
September 10, 2013 at 7:11 am
S&P Trading volume at 15 year low . Oh, well . Keep printing
Anon, I’ll take your bait cause I have no love for W.
Afghanistan – eliminated insufferable regime and severley weakend base of operations for Al queda as well as command and control structure following attacks on 9/11. Bad should have recognized tribal structure and pulled out after year 2.
By the way how is that withdrawal working out for Obama.
iraq stupid decisions based on even worse intelligence. One bonus kurdish north region semi autonomous no longer being persecuted. Bad shiites and sunnis still killing each other in the rest of the country.
Africa negotiated good Ol Colonel Qadaffi to drop chemical and nuclear ambitions. Essentially defanging him after he saw what happened to Saddam. Although two bit dictator fights islamic and Al Queada elements in his country to stalemate. Obama supports the wrong side in that stalemate allowing control to be overrun by elements of islamic fundamentalists.
Africa lead the charge in combating epidemic AIDS infections through diplomacy, funding, and personnel.
Say what you want about W stupid, indifferent or otherwise he made decisions whether they were unpopular or not. Did not hold a finger into the wind and base foreign policy on his likability index. He also had the respect of leaders around the world, something chairman O does not have. If it wasn’t for the stupid neocon Iraq war Bush would probably get a passing grade, but he is not the utter failure Barrack Obama is.
18. Really! W poisoned the well for any actions going forward. Some people have selective memories.
20. Are you functionally retarded?
20. You were lied to aka “faulty intelligence”.
Fast Eddie,
The inventory is out West, beyond an easy commute to NYC.
I see a lot of for sale signs in Bridgewater and Warren. As many now as this spring.
How could I be lied to if I didn’t support the war in Iraq nor did I provide a justification for it? Sad as it may seem Bush was actually some what passable on foreign policy sans Iraq war, believe me it surprises me as well. History is going to far kinder to him than Obama whose epitaph is going to solely consist of first black president. He makes Ford and Clinton look like foreign policy savants.
Look no further than Afghanistan’s annual heroin exports to the United States as an indication of failure. Afghan opium production as measured by acres cultivated is now near the highest levels ever recorded.
General Georges Sada reports that he has seen Iraq’s weapons of mass destruction and they were transported to Syria.
http://www.thedailyshow.com/watch/tue-march-21-2006/general-georges-sada
http://www.msunderestimated.com/SaddamsWMDs.wmv
23.Anthony’s Weiner says:
September 10, 2013 at 10:05 am
20. You were lied to aka “faulty intelligence”.
#6 Deblasio is a horrible pick for NYC mayor, but the same is true for all the lib candidates. However, I must say the Afro on half black kid commercial was brilliant.
I rote this long winded response and deleted it by accident. So here is the short version was bush good no, but in comparison to the this administration yes. no something I would think was even remotely possible.
honestly even the libs are coming around
http://articles.washingtonpost.com/2012-07-26/opinions/35487798_1_african-countries-pepfar-antiretroviral-treatment
must be upside down day I’m defending Bush.
Obama Derangement Syndrome?
Not even Obama thinks the US should not have attacked Afghanistan, so that’s a silly “point” to make.
On Iraq, the war was overwhelmingly supported by the public, the Senate, and the House, including “yes” votes from Joe Biden, Hillary Clinton, John Kerry, and Harry Reid.
Senator Harry Reid also stated at the time:
“We stopped the fighting [in 1991] based on an agreement that Iraq would take steps to assure the world that it would not engage in further aggression and that it would destroy its weapons of mass destruction. It has refused to take those steps. That refusal constitutes a breach of the Armistice, which renders it void, and justifies resumption of the armed conflict.”
– Senator Harry Reid, Congressional Record, 10/9/02, p. S10145
Maybe we could advance the debate if people stop comparing bad to bad. One being slightly worse than another in one respect, and vice versa on another… who cares?
judge them on their own merits, which of course they have none.
baa
A slowly rising stock market leads to low volume, option trades make less sense and folks have less reason to buy and sell and churn away,
Fall 2008 and Spring 2009 we had some great volume, but that alone does not make a health market.
The 1970s for instance folks bought and hold whole decade. Dad bought 10K mutual fund whole decade gave him little reason to buy more or sell.
The 80s and 90s were different stories. Decades with huge run ups and huge crashes mixed in. Folks cashing out at peak, folks panicking and selling at the bottom and tons of buying and selling opportunities mixed in.
We need actionable events to bring back vol, for example a war with Syria would have been good for volume but not good for much else .
Brian says:
September 10, 2013 at 9:27 am
Where did you read that?
1.freedy says:
September 10, 2013 at 7:11 am
S&P Trading volume at 15 year low . Oh, well . Keep printing
anon [6];
hereby officially endorse Bill de Blasio to be the next major of New York City.
Another woman-hating, homophobic bigot* self-identifies. Simply can’t handle the thought of calling a lesbian “Madame Mayor”.
From my POV, any of the likely candidates is only going to shepherd the further decline.
*TIC
anon [6];
hereby officially endorse Bill de Blasio to be the next major of New York City.
Another woman-hating, h°m0phobic bigot* self-identifies. Simply can’t handle the thought of calling a lesbian “Madame Mayor”.
From my POV, any of the likely candidates is only going to shepherd the further decline.
*TIC
anon [6];
hereby officially endorse Bill de Blasio to be the next major of New York City.
Another woman-hating, h°m0phobic bigot* self-identifies. Simply can’t handle the thought of calling a lesbi@n “Madame Mayor”.
From my POV, any of the likely candidates is only going to shepherd the further decline.
*TIC
The NYC mayoral candidate pool is atrocious. All a bunch of clowns.
Wish Bloomberg would stick around.
Pain [20];
You’re right to look to Libya and Kaddaffi as the prime examples to Muslim leaders in their dealings with the US. Kaddaffi came in out of the cold, paid reparations for Lockerbie, made nice to the Americans — he got Louima’d with a bayonet for his trouble.
That’s the example Assad is looking at.
ccb223 [35];
Why not? He already extended the term limits once. If the Federal Gov. runs like a Banana Republic, why shouldn’t the City?
Purely based on NJ RE valuation, De Blasio as NYC mayor is probably good as he’ll make young professional families less likely to stay in the city – but bad since the number of well- paying jobs in the city is likely to drop (more than otherwise). How does it sound for yin-yan?
I think my car is going to be totaled…..stupid little cig-smoking 19 yo fcuker!
chicagofinance says:
September 9, 2013 at 10:46 pm
Ragnar: I was in a minor car accident on the way home from work. I am calling your place tomorrow to cancel out….sorry…..I’m fine….some kid blew a stop sign bolting from class…..cops were nice guys….Middletown cop and two Brookdale cops….
Grim – do you happen to have a closing price for 11 Nymph in West Orange? Friend was looking at it…seemed to sell pretty fast.
It looks like a cake walk for Deblasio, but it won’t be apparent for about 2-3 years that NYC will become less livable for families……only then do people realize the ramifications of their choices……
I hate to sound like a curmudgeon but here it goes….
“A conservative is a liberal who has been mugged.”
xmonger says:
September 10, 2013 at 10:35 am
#6 Deblasio is a horrible pick for NYC mayor, but the same is true for all the lib candidates. However, I must say the Afro on half black kid commercial was brilliant.
40 – Came on the market at $629k on 4/9 – reduced to $599k on 4/16 – went ARIP on 4/19 – closed on 6/19 for $620k.
Thanks!
chi[41]
This is the simplest way to make the city more affordable for those that stay… the easiest way to keep his promises.
Does a less livable NYC equal higher demand for NJ homes?
If they tighten up rent controls and make it harder to develop residential property, people who earn a living there may have to live somewhere else.
Paying attention to the NYC mayoral race is more than I can stomach. Whomever they are trying to connect with, it surely is not me. Not that I could vote for them anyway.
cobbler checking out your sweatshops in Jiangsu province? Are export volumes rising?
I think hairy crabs are coming in season now there – eat up! Not to be confused with getting crabs in your hair.
#17 grim that’s quite a list, how many properties went the same price or below asking?
Damm your 1986 Camaro IROC with t-roofs and a whale tale is going to be tough to replace
chicagofinance says:
September 10, 2013 at 12:32 pm
I think my car is going to be totaled…..stupid little cig-smoking 19 yo fcuker!
chicagofinance says:
September 9, 2013 at 10:46 pm
Ragnar: I was in a minor car accident on the way home from work. I am calling your place tomorrow to cancel out….sorry…..I’m fine….some kid blew a stop sign bolting from class…..cops were nice guys….Middletown cop and two Brookdale cops….
47 – Roughly 20-25% above ask, 75-80% at or below.
Rising rates reflect both stronger global economic growth and shifting expectations for both tapering and the next Fed chairman. Significant risks remain and 10-year rates approaching 3% begin to look attractive. The potential to overshoot remains so we’ll continue to underweight rate-sensitive segments of fixed income (Treasuries, mortgages and TIPS). Rising rates in August led to underperformance of high yield bonds vs. bank loans. The potential for this to continue in the short run leads us to putting high yield at “neutral” and bank loans to “overweight.” Emerging markets continue to be under stress with currency uncertainty in India and Indonesia alongside fears of further global outflows attendant with Fed tapering; we remain neutral regarding an outright recommendation in EM debt. In municipals, higher rates and a steeper curve has restored some value to the broader municipal market with yields their highest since early 2011. However, Puerto Rico bonds finally began to reflect the long deterioration in fundamentals and our longstanding concerns.
266 Clarken Dr West Orange Twp. LP: 350000 SP: 401000
I looked in this developement two plus years ago. I liked them but why pay that amount for a townhouse for that school system and the likely $12k-$13k property taxes for either a 2 or 3BR?
22A LAKESIDE DR Millburn Twp. LP: 275000 SP: 275555
Tiny apartments probably no garage. I’ve been in these too. Way way way too small to enjoy. What’s the selling point, near A&P? Still almost fifteen minute walk to train station
46 Spenser Dr Millburn Twp. LP: 1300000 SP: 1360000
I had a friend live either next door or two houses away. Nice houses nice yards but these are 2007 prices. These are nice 4 or 5 bedrooms but $400k overpriced IMO.
[38] cobbler
Doubt you will see much movement there. The Manhattan to Midtown Direct pipeline is driven more by school age children than anything else. It isn’t taxes as that is a neutral (unless di Blasio chases jobs out of the city) and if the cost of housing declines, those YUPPIES are likely to stick around.
Only thing that drives them out is crime, taxes, and lack of jobs. So far, that isn’t threatened much.
…why pay that amount for a townhouse for that school system and the likely $12k-$13k property taxes for either a 2 or 3BR?
Dan, don’t forget to add the maintenance fees on the townhouse. It’s the same reason why the fortunes of the railroad tycoons were p1ssed away in one successvice generation. Most people are clueless when it comes to money management. If you leave a 4 year old unsupervised with a gallon of ice cream, they will eat themself to death.
Sounds like Deblasio is good for NJ Real Estate.
Apple up’ed the bar big time.
#41 NYC – on the highway to hell
http://www.youtube.com/watch?v=d2RZXeQc5HU&feature=c4-overview&list=UU7gHHtlv-Oyll1jbsJh8qJA
click now, thank me later
Yeah it’s amazing. I hear the iPhone now comes in gold.
Whop dee doo
grim says:
September 10, 2013 at 2:01 pm
Apple up’ed the bar big time.
NYC descends another level into Third World muck.
59
First ever 64 bit phone with 64 bit OS. Some pretty substantial performance improvements.
What appears to be the best-ever in-phone camera – larger sensor – multi-temperature flash, 120fps slow mo, 15 zone auto-focus, larger lens f2.2
First ever on-phone fingerprint sensor
New motion processor co-developed with Nike (for fitness/exercise apps)
Starting at $199 for the top phone, $99 for the new colored 5’s, and a free iPhone 4s if you want to go that route.
Can’t wait to give my fingerprints to the NSA through my new iPhone.
62 – What, you don’t honestly think they don’t have them already? I’m sure they have mine..
Own a handgun – Was fingerprinted (all fingers)
NJ real estate license – Was fingerprinted (all fingers)
I distinctly remember being fingerprinted in grammar school too.
62-63
What a bunch of conspiracy nuts
I hate the maint fees in a condo/coop and fact it depreciates less and you are restricted to the studs in and neighbors are on top of you.
that said when I was young and single I loved my coop. nothing better than sleeping in on a snowy day while someone else shoveled snow and never getting a heating bill, water bill, gas bill or property tax bill.
My wife also loves the condo we bought for sheer fact even though maint is way too high she does not have to worry is tenant shoveling walkway, is tenant mowing the lawn, does gutters need cleaning, is roof leaking. etc. Granted I way way over pay as the place is badly run. But as a landlord it is good. Lots of old folks live there too. A few younger folks bought there are peak of 2003-2008 and hate it as they are trapped as they overpaid and condos have less appreciation than a house but otherwise whatever. Also plus when doing taxes as maint is tax deductable and I have a lot less receipts to track.
My winter tenant chose my condo over a larger house that was a little less per month. He wants to enjoy the beach and stuff in Sept through November and April though May and was turned off with shoveling someone else’s sidewalk, mowing someone else’s lawn and fact he had to chase down homeowners for repairs. He also liked no hauling garbage cans to curb.
A big house is great in the summer. Great backyard, laying in sun. Parties. But a winter rental by the beach, a nice deck with a bbq and access to a place to sit outside your door is all you need. Also less space less heat used and attached brick style town homes use a heck of a lot less heat and electric than a big house in January.
Condos serve the purpose for young folks, widows, absentee landlords, snowbirds and even certain ethnic groups like Indians who dont like doing physical work around the house as much and dont mind being close together. Not all, but a lot of asians, indians and even jewish people like condos and coops. Divorced people too. My one bedroom right by train and bars with short commute to city I sold to a 33 year old guy who just got divorced and had a big house on the water. Told me he got 200K in split, paid 86K in cash for my place and was looking forward to one single bill, maint each month and no work at all around the house. My place was freshly painted and cleaned. He moved out 4 years later and touched not a single thing. Sometimes you just have to be in the mood to deal with a house. Most divorced folks are not. Most have cash. Most like owning. Also folks feel safer owning.
My kids have only been to my condo a few times and all said they like the fact even though you dont have a private yard the complex is private property, most neighbors are older, quiet, say hello and goodby and the complex is kept neat. One said she would be my winter tenant first year out of college!!! But they are not money makers.
I should have bought a small damaged sandy house on a good plot, fixed it up for a rental cheap, then down the road knocked it down or blown it out when real estate is better. I cant do it with a condo. Plus I am tied to idiotic board and neighbors comps. If one neighbor or two sell identical units cheap or board screws up insurance and a flood or something happens we are all screwed. Dont like fact I am tied to a group of strangers
I would say for apartments buy a REIT and get over it. But when EQR is selling at 2.4 P/B I wouldn’t buy them either.
Perhaps you should start a reit.
[63] grim,
Everyone has mine. I’m starting a new project in Delaware soon and it had a background check requirement. And yes, they took my fingerprints. In fact, they had to delay the start because they temporarily lost them.
Even the NJ Bar has every attorney’s fingerprints. I guess it saves the cops some time later.
she seems to have a nice set of………fingerprints….
xmonger says:
September 10, 2013 at 2:04 pm
#41 NYC – on the highway to hell
http://www.youtube.com/watch?v=d2RZXeQc5HU&feature=c4-overview&list=UU7gHHtlv-Oyll1jbsJh8qJA
click now, thank me later
ahh diversion, it is exactly as it lists
http://www.cowabduction.com/
Apple Snapple. No escaping margin compression for them.
80% of the phone market is Android.
Only stupid beats Free!
Bye Bye profits for Apple!
http://ycharts.com/companies/AAPL/profit_margin
Hey how much would a family of five on average give at a fancy NY/NJ Bat Miz?
I am getting widely different estimates
Fingerprints are going the way of the typewriter. They won’t even be taken in the future. Just look at the latest process being implemented at the Airports.
http://www.designboom.com/technology/3d-facial-recognition-airport-security-at-sochi-2014-olympics/
Facial Recognition via wearable computers. Much more effective in detecting perps.
Startup for Glass
http://www.lambdal.com/
What’s next? rectal scanners?
joyce says:
September 10, 2013 at 3:09 pm
62-63
What a bunch of conspiracy nuts
Just got an HTC one- cool phone.
re # 75- just remember the NSA keeps a copy of your wiener pics.
Putin says Checkmate
http://online.wsj.com/article/SB10001424127887323595004579066524164827140.html
76. My weiner is worldwide.
77. F-ck Putin. Freakin’ thug. Seems like he really overcompensates. The US shoyld nuke those commies into the stoneage.
Kerry got his tail handed to hin the house today.
73
Disney took my fingerprints last week and I didn’t even get to see Walt’s frozen head.
Oh good lord – Stu – Did you see it yet?
That new mismatched monstrosity at the top of Grove St in Clifton is for sale.
Asking price – $1.35m
Good f’ing luck unloading that shithole for that price.
Dan, (52)
The selling point is the school system. Looks like a 5 minute walk to high school. A 15 minute walk to a train station is a positive not a negative. Leave your house at 7:15, be at Penn Station at 8:15. My guess bought by some immigrants willing to sacrifice living space while they set up their kids to go on and get a good education, score high SATs, win scholarships and good jobs.
Might not be to everyone’s taste, but it could make strategic sense for many.
Ragnar
My hunch is that was a one bedroom so i don’t think the school is in play.
37 — yes, he extended term limits…and the people elected him for a 3rd time…thankfully.
Luckily, a lot of the systems/programs Bloomberg has put in place should be self sustainable.
Solar for the house, we are getting and estimate this week? Does it increase value?
Opinons from the skeptical welcome.
Not how much….but rather what?
JJ says: September 10, 2013 at 4:22 pm
Hey how much would a family of five on average give at a fancy NY/NJ Bat Miz?
I am getting widely different estimates
Drug dealers text customers: ‘We’re closed for Shabbat’
By Daniel PrendergastSeptember 10, 2013 | 3:21pm
These dealers answer to a “higher” authority.
An observant bunch of Brooklyn drug slingers announced to their clientele through mass texts they would be working shortened hours — in honor of Shabbat, according to a criminal complaint.
The group of five men were slapped with with a slew of drug and conspiracy charges after after investigators found that the men had been texting customers with detailed instructions about how to pick up their supplies of cocaine, heroin and oxycodone — and even warned against showing up after sundown on a Friday or before sundown on Saturday.
Prosecutors charge that Jack Zibak, Jack Zaibak, Eduard Sorin, David Gerowitz and Philip Mandel sold the drugs from their den on Bedford Avenue in Sheepshead Bay, including more than 23,000 pills of oxycodone carrying a street value of approximately $460,000, according to the criminal complaint.
They allegedly used a variety of methods to obtain the pills, including using stolen prescription sheets.
The crew regularly sent out mass texts to customers indicating their their abridged hours in observance of the holy day, including one message that said their operation would be “closed for Shabbat.”
“We are closing 7:30 on the dot and we will reopen Saturday 8:15 so if u need anything you have 45mins to get what you want,” one of the messages read.
Cops raided their pious operation on April 20 after a six month investigation referred to as “Only After Sundown,” where police seized approximately 900 glassines of heroin, 335 oxycodone pills, a small quantity of cocaine, and additional quantities of Xanax, Suboxone and Klonopin.
A sawed-off shotgun with ammunition was also recovered, as was a Blackberry that was used to send texts to customers, prosecutors allege.
Not how much….but rather what?
JJ says: September 10, 2013 at 4:22 pm
Hey how much would a family of five on average give at a fancy NY/NJ Bat Miz?
I am getting widely different estimates
Drug dealers text customers: ‘We’re closed for Shabbat’
By Daniel PrendergastSeptember 10, 2013 | 3:21pm
These dealers answer to a “higher” authority.
An observant bunch of Brooklyn drug slingers announced to their clientele through mass texts they would be working shortened hours — in honor of Shabbat, according to a criminal complaint.
The group of five men were slapped with with a slew of drug and conspiracy charges after after investigators found that the men had been texting customers with detailed instructions about how to pick up their supplies of cocaine, heroin and oxycodone — and even warned against showing up after sundown on a Friday or before sundown on Saturday.
Prosecutors charge that Jack Zibak, Jack Zaibak, Eduard Sorin, David Gerowitz and Philip Mandel sold the drugs from their den on Bedford Avenue in Sheepshead Bay, including more than 23,000 pills of oxycodone carrying a street value of approximately $460,000, according to the criminal complaint.
They allegedly used a variety of methods to obtain the pills, including using stolen prescription sheets.
The crew regularly sent out mass texts to customers indicating their their abridged hours in observance of the holy day, including one message that said their operation would be “closed for Shabbat.”
“We are closing 7:30 on the dot and we will reopen Saturday 8:15 so if u need anything you have 45mins to get what you want,” one of the messages read.
Cops raided their pious operation on April 20 after a six month investigation referred to as “Only After Sundown,” where police seized approximately 900 glassines of heroin, 335 oxyc0done pills, a small quantity of cocaine, and additional quantities of XanVx, Subox0ne and Klonop!n.
A sawed-off shotgun with ammunition was also recovered, as was a Blackberry that was used to send texts to customers, prosecutors allege.
Not how much….but rather what?
JJ says: September 10, 2013 at 4:22 pm
Hey how much would a family of five on average give at a fancy NY/NJ Bat Miz?
I am getting widely different estimates
Drug dealers text customers: ‘We’re closed for Shabbat’
By Daniel PrendergastSeptember 10, 2013 | 3:21pm
These dealers answer to a “higher” authority.
An observant bunch of Brooklyn drug slingers announced to their clientele through mass texts they would be working shortened hours — in honor of Shabbat, according to a criminal complaint.
The group of five men were slapped with with a slew of drug and conspiracy charges after after investigators found that the men had been texting customers with detailed instructions about how to pick up their supplies of cocaine, heroin and oxycod0ne — and even warned against showing up after sundown on a Friday or before sundown on Saturday.
Prosecutors charge that Jack Zibak, Jack Zaibak, Eduard Sorin, David Gerowitz and Philip Mandel sold the drugs from their den on Bedford Avenue in Sheepshead Bay, including more than 23,000 pills of oxycod0ne carrying a street value of approximately $460,000, according to the criminal complaint.
They allegedly used a variety of methods to obtain the pills, including using stolen prescription sheets.
The crew regularly sent out mass texts to customers indicating their their abridged hours in observance of the holy day, including one message that said their operation would be “closed for Shabbat.”
“We are closing 7:30 on the dot and we will reopen Saturday 8:15 so if u need anything you have 45mins to get what you want,” one of the messages read.
Cops raided their pious operation on April 20 after a six month investigation referred to as “Only After Sundown,” where police seized approximately 900 glassines of heroin, 335 oxyc0done pills, a small quantity of cocaine, and additional quantities of XanVx, Subox0ne and Klonop!n.
A sawed-off shotgun with ammunition was also recovered, as was a Blackberry that was used to send texts to customers, prosecutors allege.
Not how much….but rather what?
JJ says: September 10, 2013 at 4:22 pm
Hey how much would a family of five on average give at a fancy NY/NJ Bat Miz?
I am getting widely different estimates
Drug dealers text customers: ‘We’re closed for Shabbat’
By Daniel PrendergastSeptember 10, 2013 | 3:21pm
These dealers answer to a “higher” authority.
An observant bunch of Brooklyn drug slingers announced to their clientele through mass texts they would be working shortened hours — in honor of Shabbat, according to a criminal complaint.
The group of five men were slapped with with a slew of drug and conspiracy charges after after investigators found that the men had been texting customers with detailed instructions about how to pick up their supplies of c0caine, her0in and oxycod0ne — and even warned against showing up after sundown on a Friday or before sundown on Saturday.
Prosecutors charge that Jack Zibak, Jack Zaibak, Eduard Sorin, David Gerowitz and Philip Mandel sold the drugs from their den on Bedford Avenue in Sheepshead Bay, including more than 23,000 pills of oxycod0ne carrying a street value of approximately $460,000, according to the criminal complaint.
They allegedly used a variety of methods to obtain the pills, including using stolen prescription sheets.
The crew regularly sent out mass texts to customers indicating their their abridged hours in observance of the holy day, including one message that said their operation would be “closed for Shabbat.”
“We are closing 7:30 on the dot and we will reopen Saturday 8:15 so if u need anything you have 45mins to get what you want,” one of the messages read.
Cops raided their pious operation on April 20 after a six month investigation referred to as “Only After Sundown,” where police seized approximately 900 glassines of her0in, 335 oxyc0done pills, a small quantity of c0caine, and additional quantities of XanVx, Subox0ne and Klonop!n.
A sawed-off shotgun with ammunition was also recovered, as was a Blackberry that was used to send texts to customers, prosecutors allege.
Not how much….but rather what?
JJ says: September 10, 2013 at 4:22 pm
Hey how much would a family of five on average give at a fancy NY/NJ Bat Miz?
I am getting widely different estimates
Drug dealers text customers: ‘We’re closed for Shabbat’
By Daniel PrendergastSeptember 10, 2013 | 3:21pm
These dealers answer to a “higher” authority.
An observant bunch of Brooklyn drug slingers announced to their clientele through mass texts they would be working shortened hours — in honor of Shabbat, according to a criminal complaint.
The group of five men were slapped with with a slew of drug and conspiracy charges after after investigators found that the men had been texting customers with detailed instructions about how to pick up their supplies of c0caine, her0in and oxycod0ne — and even warned against showing up after sundown on a Friday or before sundown on Saturday.
Prosecutors charge that Jack Zibak, Jack Zaibak, Eduard Sorin, David Gerowitz and Philip Mandel sold the drugs from their den on Bedford Avenue in Sheepshead Bay, including more than 23,000 pills of oxycod0ne carrying a street value of approximately $460,000, according to the criminal complaint.
They allegedly used a variety of methods to obtain the p!lls, including using stolen prescr!ption sheets.
The crew regularly sent out mass texts to customers indicating their their abridged hours in observance of the holy day, including one message that said their operation would be “closed for Shabbat.”
“We are closing 7:30 on the dot and we will reopen Saturday 8:15 so if u need anything you have 45mins to get what you want,” one of the messages read.
Cops raided their pious operation on April 20 after a six month investigation referred to as “Only After Sundown,” where police seized approximately 900 glass!nes of her0in, 335 oxyc0done pills, a small quantity of c0caine, and additional quantities of XanVx, Subox0ne and Klonop!n.
A sawed-off shotgun with ammunition was also recovered, as was a Blackberry that was used to send texts to customers, prosecutors allege.
57. Server technology in the palm of your hand. Apple likes the big bus.
86 – little to no resale payback
ccb223 [85];
37 — yes, he extended term limits…and the people elected him for a 3rd time…thankfully.
Luckily, a lot of the systems/programs Bloomberg has put in place should be self sustainable.
The city that said goodbye to Giuliani four months after 9/11/01 just couldn’t survive ’09-’13 without Nanny Bloomberg? Who else could have saved NYC from the Big Gulp?
“Self-sustaining” is a bug, not a feature.
Firefighters hate it. It makes fires harder to put out and they can be electrocuted even if the grid power is turned off during a fire.
Juice Box says:
September 10, 2013 at 7:25 pm
Solar for the house, we are getting and estimate this week? Does it increase value?
Opinons from the skeptical welcome.
ragnar[47]
Yes, the hairy crabs are here… too labor-intensive for my taste, I’d rather have crabcakes at home. As for the factory, it is as automated and modern as anywhere in the world… but when the needed capex is 20% of what it has to be stateside, and ROI the local owner expects is 7% instead of 25%+, it is hard to say no to your bosses… This is why I think going the tariff/protections route is the only way to go if we want to have more than WS, McJobs and a few tradesman in between…
http://www.app.com/article/20130910/NJNEWS2002/309100046/AshBritt-overbilled-Sandy-cleanup-report-says
no bid contract and “overbilling” … but dont worry, no wrongdoing
Grim: That house CAN’T go for that unless some rich Greek is in the market. So you going to the open house? You MUST take pictures and post.
JJ: One does not gift on the fanciness of the affair unless it is completely informal. And I’ve been to a few of those crazy lavish affairs. I usually give about $50 per person invited, but to be stupidly traditional, make the final amount divisible by 18. So, $252 in this case. If it’s a business associate, give a little more.
And let’s here it for US Soccer!!!
hear it. Time for sleepy sleep.
[92] cobbler,
I said it before, I’ll say it again, protectionism is the only way off the mat. I used to say that protectionism is the only way the left succeeds but I think now the inverse is true. The left can live a long time waging a class war as its raison d’être but the right can’t advance unless people get back to work. Downright paradoxical.