CRDA Wins Eminent Domain Case

From the APP:

Judge: New Jersey can take piano tuner’s home

An Atlantic City piano tuner cannot stop the Casino Reinvestment Development Authority from taking his family home, a state judge ruled Monday.

Superior Court Judge Julio Mendez, who heard final arguments in an Atlantic City courtroom last month, ruled that the state agency can use eminent domain to seize the house in the shadow of the closed Revel Casino Hotel, citing an “appropriate public purpose” for the property.

Owner Charlie Birnbaum, 67, doesn’t live in the three-story brick house on Oriental Avenue, but he is there often. He uses the first floor of the building — bought by his parents in 1969 — for his piano-tuning business and rents the top two floors to tenants. The house is one of the few inhabited buildings on the block and overlooks a large swath of vacant land.

Robert McNamara, an attorney representing Birnbaum from the Virginia-based Institute for Justice, has argued that the CRDA doesn’t have specific plans for the land, other than take it and “think really hard about what they’re going to do with it.”

The CRDA argued that it needed the property to create a tourism district and that it is not obligated to disclose what specific stores will occupy the property, court records show. Stuart Lederman, an attorney for the CRDA, said Monday the ruling “upheld the broad powers” that the CRDA has and will allow the agency to continue revitalizing Atlantic City.

McNamara, meanwhile, said the ruling paves the way for an “appalling and outrageous scope of power for any government entity.” He said Birnbaum intends to appeal.

“It’s not an opinion we intend to let stand,” McNamara said. “The upshot of this opinion is that the CRDA can take anything it wants for any reason or no reason. If this ruling stands, there is literally no piece of property in Atlantic City that is safe from the whims of government officials.”

In his opinion, Mendez said the court recognizes Birnbaum’s connection to the property but that the CRDA provided an acceptable level of detail in its plans for the area.

“The court acknowledges and empathizes with the Birnbaums’ desire to keep this family owned property,” he wrote. “On the other hand, the court is satisfied that the CRDA is acting within the statutory framework and objectives of the New Jersey legislature.”

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83 Responses to CRDA Wins Eminent Domain Case

  1. Mike says:

    Good Morning New Jersey

  2. grim says:

    Breaking News: Houses expensive in places where people want to live, from Housingwire:

    Trulia: Home affordability slips for middle class

    Home affordability continues to challenge first-time, young and middle-class buyers, with some of the warmer climes generally making for the hottest – and least affordable – housing markets.

    But good news if you like the cold – the most affordable markets are near the Great Lakes.

    That’s the summary from Jed Kolko, chief economist for Trulia.

    “Despite high household incomes, San Francisco is the least affordable metro, with just 15% of homes within reach of the middle class. Affordability has deteriorated over the past year in Austin and Miami,” he writes. “…Affordability has fallen modestly, hurt by rising home prices, but helped by lower mortgage rates.”

    Nationally, Kolko says, 59% of homes for sale are within reach of the middle class, compared with 62% last October.

    “Nonetheless, the big picture is that prices still look undervalued compared with fundamentals and historically low mortgage rates make buying much cheaper than renting. Still, affordability is a growing problem,” he says. “We measure affordability as the share of homes for sale on Trulia within reach of a middle-class household. Our standard is whether the total monthly payment, including mortgage, insurance, and property taxes, is less than 31% of the metro area’s median household income. We define middle class separately for each metro based on the local median household income. Thus, what we consider affordable varies from market to market.”

  3. grim says:

    According to Trulia, if you are middle class in the NY Metro, here is what you can afford:

    1,050 square feet, which represents only 25% of the for sale homes.

    I know you think you deserve better, a 4 bedroom CHC on 3/4 of an acre with a pool, but no. Welcome to the new America.

    Or maybe Levitt was right? And welcome back to the old America.

  4. grim says:

    And the correct term is jury rig – whose etymology traces back to the 15th century, and refers to a hastily improvised mast, sails, or rigging. The term is often mispronounced jerry rig, ironically. The more recent variation, is clearly without descriptive merit, since historically, it would have been poor uneducated white guys doing this improvisational rigging. Although, to confuse the issue, there is also recent precedent that the term is more applicable to rich white Canadian geniuses who fashion all sorts of equipment out of bubble gum, paper clips, and duct tape. Even in the A-Team, it was the white (idiot) Howling Mad Murdock who did most of the jury rigging, and not B.A. Baracus. I pity the foo’.

  5. 1987 Condo says:

    #3….you are missing my shore house, boat, season tickets…..I personally declared “victory” since my house has a garage…my father did not have one so I “moved up”….plus no on street overnight parking is just gravy!

  6. grim says:

    5 – My move up was to owning a single family house, which I still take flac for.

    Tell you though, some times I regret not just buying a 4 family instead.

  7. 1987 Condo says:

    #6..after owning 2 rentals and living in an apartment style condo….I appreciate the privacy, not being burned down or flooded by the “stupidiest” neighbor above or next to me, not worrying about monthly rental payments, eviction issues, child laws, tenant personal problems, searching for new tenants, 1031 issues, depreciation recapture and associated paperwork!

  8. jj says:

    Unless you are a married couple with three or more kids what do you need a big house for? Just a big headache.

    grim says:
    November 18, 2014 at 6:41 am

    According to Trulia, if you are middle class in the NY Metro, here is what you can afford:

    1,050 square feet, which represents only 25% of the for sale homes.

    I know you think you deserve better, a 4 bedroom CHC on 3/4 of an acre with a pool, but no. Welcome to the new America.

    Or maybe Levitt was right? And welcome back to the old America.

  9. grim says:

    Best photo caption ever printed in a NJ paper:

    An apparently inebriated man allegedly stole a bulldozer from a West Hudson Park construction site and wreaked havoc in the park as he apparently tried to drive home from Harrison to Newark on Friday, Nov.14, 2014, officials said.

  10. Fast Eddie says:

    I know you think you deserve better, a 4 bedroom CHC on 3/4 of an acre with a pool, but no. Welcome to the new America.

    For a better part of the last decade, EVERYONE was deserving of 4 bedroom CHC in Upper Snootyville. Did you have a pulse? Approved! Did something change? Is everyone still bleeding wealth as I’ve been told? Is it still a good time to sell and buy? Silly me, it’s always a good time to sell and buy!

  11. chicagofinance says:

    Deceptive…..plenty of people living in places that they could not afford to buy on the open market…..

    grim says:
    November 18, 2014 at 6:41 am
    According to Trulia, if you are middle class in the NY Metro, here is what you can afford:

    1,050 square feet, which represents only 25% of the for sale homes.

    I know you think you deserve better, a 4 bedroom CHC on 3/4 of an acre with a pool, but no. Welcome to the new America.

    Or maybe Levitt was right? And welcome back to the old America.

  12. Fast Eddie says:

    I saw this one two weeks ago. Beautiful, isn’t it? Those pretty pictures are not so pretty in person. The 3rd floor (not shown) is, ahem… all original. Wear sunglasses and cover the children’s eyes. The rest of the house has copious amounts of lipstick in various forms, if you know what I mean. Whatever work was apparently done here was an effort to cover-up many flaws. You need to a rope harness to descend the cellar stairs. Totally renovated? Maybe the buyers won’t notice anything until after the closing. Yes, everything has a price and about 150K under the asking is the price for this one.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1429089&dayssince=&countysearch=false

  13. grim says:

    11 – Plenty of people have equities portfolios they could not afford to buy in the open market too…

  14. Fast Eddie says:

    According to Trulia, if you are middle class in the NY Metro, here is what you can afford:

    1,050 square feet, which represents only 25% of the for sale homes.

    Someone forgot to tell that to the ocean of muppets making monthly payments on their underwater houses. Where’s the article from the Real Estate section of the Bergen Record quoting people who are angry with their house agent for making them buy the house? Multiply by 50,000.

  15. Fast Eddie says:

    Common sense apparently is not so common. At least, that’s what a professor from MIT who is the architect of Oblamacare would tell you.

  16. grim says:

    13 – The odd column placement in the main living room photo gives me serious pause.

    Clearly it wasn’t placed in position that indicates that an architect or engineer had thought deeply about it’s postion. More so that the building inspector failed them due either over spanning the beam that was there, or having an unsupported load from an upper level that wasn’t carried through to the foundation (the intersection).

    I’ve seen that kind of thing before, and it generally points to shoddy construction elsewhere.

    Maybe too much speculation, but that’s one of the top things I look out in renos with huge “open floor plans”. I’ve been known to jump up and down on upper levels too. It’s amazing how many open floor plan noodles I’ve seen.

  17. Fast Eddie says:

    I keep asking myself if things were so “rich” in our area, why are so few desirable properties available? Especially if rates are so low? It’s a rhetorical question; I really shouldn’t kick my opponents when they’re down but surviving a mountain of insults from former, overweight nail technicians has a way of coming back to… let’s say… biting you in the @ss?

  18. Michael says:

    If you don’t think our area is so “rich”, then you have not stepped foot into other areas of the country. You will see poor and realize how wealthy northern nj is.

    Fast Eddie says:
    November 18, 2014 at 9:29 am
    I keep asking myself if things were so “rich” in our area, why are so few desirable properties available? Especially if rates are so low? It’s a rhetorical question; I really shouldn’t kick my opponents when they’re down but surviving a mountain of insults from former, overweight nail technicians has a way of coming back to… let’s say… biting you in the @ss?

  19. Nom (from tail of yesterday’s thread) – Good article, thanks.

    http://discover.economist.com/?a=21627649

  20. yome says:

    Where will they go,if they sell? Their house is not the only one that went up in price. Only choice is move up. If I live in Hootyville and sell,do i buy in Hootyville again? Of course not. I will be looking at Super Hootyville. Upgrade and pay more. Many people realized that is not the best strategy. Wait for the retired to sell their homes in Hootyville and move down to Florida. No guarantee that house will be in good shape either.

    “I keep asking myself if things were so “rich” in our area, why are so few desirable properties available? Especially if rates are so low? “

  21. And if you step foot in Sands Point you’ll realize how wealthy you’re not. Oh turdfluffer.

    If you don’t think our area is so “rich”, then you have not stepped foot into other areas of the country. You will see poor and realize how wealthy northern nj is.

  22. Fast Eddie says:

    You will see poor and realize how wealthy northern nj is.

    Paying for a depreciated asset and unable to sell a house is not a definition of wealth.

  23. Fast Eddie says:

    Btw, can anyone drop a name of a reputable garage door replacement company?

  24. Michael says:

    I’m just saying, a good portion of the population in America live an equivalent lifestyle to those living in Paterson and Newark. You and fast eddie are out of touch because you only look at the world through your own eyes. Therefore you don’t realize how wealthy some parts of the northeast really are until you venture to other parts of the country. It’s not that they have insane wealth. It’s just that town after town is wealthy. You do not find that in many parts of the country. They only have little pockets of wealth. Couple blocks or a neighborhood, but not town after town.

    The Original NJ ExPat Asian Hipster says:
    November 18, 2014 at 9:40 am
    And if you step foot in Sands Point you’ll realize how wealthy you’re not. Oh turdfluffer.

    If you don’t think our area is so “rich”, then you have not stepped foot into other areas of the country. You will see poor and realize how wealthy northern nj is.

  25. 1987 Condo says:

    Daughter just got licensed, you have all been warned!

  26. Libturd in Union says:

    DIY. I haven’t done it, but how difficult could it be?

  27. Fast Eddie says:

    You and fast eddie are out of touch because you only look at the world through your own eyes.

    If being solvent and pragmatic is out of touch, then yes, I am out of touch. And, I’m still waiting for a link to ONE house that you deem worthy of pursuit.

  28. 1987 Condo says:

    #29..eddie, solvency and pragmatism are indeed out of touch from what I have experienced, I stayed and added on, apparently I do not deserve 4BDR CHC either!

  29. Libturd in Union says:

    Gary, that support column (pole) in the living room is just horrible. I can see some of the band-aids too. Plus who builds a closet in front of a stained glass window? Let that house rot.

  30. [26] Turdfluffer –
    Wealth = Assets – Liabilities.
    Wealth “I occupy a house better than the one you occupy, nyah, nyah, nah, nyah, nyah!”

  31. I guess the “not equals sign” is interpreted as an orphaned HTML tag.

  32. Fast Eddie says:

    C’mon, give me a garage door replacement company to call.

  33. Anon E. Moose says:

    Grim [17];

    Reminds my of one we looked at in the old section of Caldwell (sans the column, of course). Steam heat radiators; stairs around the fireplace. It had some charm, but just didn’t ring the bell.

  34. joyce says:

    Not saying I love them and hope the house has it… but in and of itself, I have no problems with steam radiators.

  35. Libturd in Union says:

    I’ve been living with unforced heat since 1988. It’s really no big deal. Though it can be noisy on cold nights like last night.

  36. 1987 Condo says:

    I used Door gallery in Verona, I think they changed to Essex : http://www.doorgallery.com/

  37. joyce says:

    I know what you mean about the noise, but from my experience it was brief/temporary and not even that loud. Though, all houses are different.

    Libturd in Union says:
    November 18, 2014 at 10:34 am
    I’ve been living with unforced heat since 1988. It’s really no big deal. Though it can be noisy on cold nights like last night.

  38. Fast Eddie says:

    1987 Condo,

    Thanks, I’ll give them a call. Someone else told me Mockler in Palisades Park (?) is good but I can’t get through. The number is out of service.

  39. phoenix says:

    Eddie,
    Having 2 replaced tomorrow, w/new openers. I will post my thoughts tomorrow. First let’s see if they show.

  40. phoenix says:

    3 Grim
    Excluding condo’s, etc, in new construction here in Morris County I have yet to see a 1000 sq ft house being built, and if it is a major renovation the size is increased also.
    1000-1200 sq ft ranches would probably sell like hotcakes if appropriately priced, yet builders are not in the business of building practical, they are for maximizing profits.
    So they make mini-mansions. One I recently saw was actually smaller than it appears-specifically designed to look large and grand on the front but with less sq footage on the back.

  41. There are two inherent problems with steam heat:

    1. They were usually right-sized for the original structure, so they are quite difficult to expand for additions, close-in porches, etc.
    2. Just about everyone who really understands steam heat is already dead.

    That said, we have steam heat and it works great. Our complex even switched the boilers over to gas a couple years ago and it still works great. Our place is so warm that we leave our biggest radiator turned completely off at the floor unless it gets down to 15 F or lower temps. We also have these slick Honeywell adjustable thermostatic valves which gives you some dynamic control over the pressure valve. No such thing as actual thermostats though. We rarely use our fireplace in the winter because it’s hard to even get the temperature down below 74F in the winter.

  42. Michael says:

    Not everyone is occupying a house they can not afford. You and fast eddie need to stop spreading this nonsense. The people who can not afford to live in their home are predominately in poor areas. This is why fast eddie can’t find a home. He is a looking for a home priced in his range in the wrong places. If the taxes seem to high or the price seems ridiculous, chances are you buying in an expensive area, and you should look into a cheaper area. Like I have stated before, I have cousin who lives in brick and pays 4,000 a year in taxes. I have another cousin who lives near lake hapotcong and also pays 4,000 in taxes. Their homes are affordable. They are both ranches. They both would prob be priced in the 200-300 range. So don’t go looking for 700,000 homes in haughty areas and expect it to be perfect along with cheap prices. Wishful thinking. Dream on dreamers.

    The Original NJ ExPat Asian Hipster says:
    November 18, 2014 at 10:06 am
    [26] Turdfluffer –
    Wealth = Assets – Liabilities.
    Wealth “I occupy a house better than the one you occupy, nyah, nyah, nah, nyah, nyah!”

  43. grim says:

    1000-1200 sq ft ranches would probably sell like hotcakes if appropriately priced, yet builders are not in the business of building practical, they are for maximizing profits.

    Houses are cheap, dirt is expensive. When the cost of the property is fixed, and the size of the house is variable, it’s near impossible to build a small house without the price tag making someone’s head spin.

    Here is an example:

    Buildable Lot, all approvals in place: Approximately $300,000
    Fixed Cost per house, builder: $100,000
    Variable Cost per square foot, builder, new construction: Approximately $50.00

    Cost to build a 1,000 square foot Ranch: $450,000 ($300k land, $150k house)
    Cost to build a 3,000 square foot CHC: $525,000 ($300k land, $225k house)

    Figure a 30% profit to the builder:

    Price of a new 1000 square foot ranch: $585,000
    Price of a new mcmansion: $685,000

    Which would you rather buy? Which one will never, ever, sell?

    Want cheaper housing? Force zoning changes that allow for higher density and infill, such that the price of buildable land is significantly reduced.

    Instead, we get things like highlands act, that mandated extremely large lot sizes, and townships amending zoning to increase setbacks and side yards, requiring more land, which is all working to push the price of housing upwards.

  44. clotluva says:

    Surprised this wasn’t posted yesterday:

    http://www.zerohedge.com/news/2014-11-17/cruel-injustice-feds-bubbles-housing

    Sounds like it could have been written by Fast Eddie.

  45. grim says:

    There is a rule of thumb when it comes to new construction, I don’t know the history, but it’s very accurate. When I’ve played around with it on a napkin, it seemed to make sense once you factored in profit, cost, etc.

    For a project to make sense, the sale price of the home needs to be 3 times the price of the lot.

    So, in the example above, the $300,000 lot. In order for that to make sense, the finished home price needs to be around $900,000.

    There are many, many places in NJ where buildable lots cost $300,000, and I’m not talking about the expensive towns. Just scanning through the MLS, a buildable lot sold a few weeks ago in North Caldwell for $600,000. I couldn’t even afford the dirt, especially when you need to pay cash for dirt.

  46. Bloomturd – I made no assertions on whether someone could make the payments or not. OTOH, you made the absolute assertion that you can just drive around and see “Wealth”, which is patently false. Positive equity is an asset, negative equity is not. You can’t drive around and see either. You can’t tell the difference between an outright owned house and Mercedes from a negative equity house with a leased Mercedes in the driveway. What’s that word with that begins with and “i” that you like to call yourself all the time?

    Not everyone is occupying a house they can not afford. You and fast eddie need to stop spreading this nonsense.

  47. phoenix says:

    48. Grim,
    With your math, in a decent town, decent lot would cost 200+. So minimum new house price is 600k, with astronomical taxes to boot.
    600k to me is not middle class.
    Middle class can no longer afford to buy a new home.
    There is nothing being built in their price range at all.

  48. Comrade Nom Deplume, a.k.a., JJ-Lite. says:

    Too much housing going on today.

    Was at the gym and channel surfing on treadmill (gym doesn’t carry Bloomberg or MSNBC so when I have my fill of CNBC blather or ads, I rotate thru CNN and Fox). Just when I hit it, Fox had a montage of various Dem leaders from Obama on down (Pelosi, Kerry, Reid, Franken to name a few), praising Jonathan Gruber. Rattner was quoted as saying he understood Gruber to be “The Man” on Obamacare while he was in the West Wing. Best one though was the ESOTUS himself, praising Gruber in person as someone “whose ideas I will liberally steal.” Really funny stuff. The latest spin in MSM was that Gruber wasn’t really involved in Obamacare, just Romneycare, but Marketwatch now reports that Gruber visited the WH 12 times in the runup to Obamacare. Oops.

    Today, they all reply “Who? Never heard of him.”

    You just cannot make this stuff up. I swear, if all this came out in late October, we may have seen a filibuster-proof Senate.

  49. grim says:

    50 – If you could GC yourself, you could potentially stand to save (or make) quite a bit of money. Is it difficult if you’ve never been around trades? Yes. Is it impossible? No. Does it help to know at least one contractor to get you going? Sure.

    There was just a buildable lot sold in Wayne, $240k, nice deal. You could probably put up a nice really house for $225k. All in you are talking $465k for a brand new house.

    In addition to the GC, the second challenge is finding $500k to float until you get your CO and can mortgage the house to pay back your lenders. You’ll have some cost of capital here.

    It’ll probably consume every moment outside of sleep and work for about 9 months, but you are saving a small fortune.

    Otherwise, if that’s too big to swallow, to a gut reno of an existing house. It’s probably 50% of the effort of a new construction build, but you’ll have less payback. Often times it costs more to reno than to just build from scratch. Of course, there is the benefit of lower taxes here, so maybe it’s a wash in the end.

    Lots of value to be had. Don’t joke about piss and shit on the wall to wall pink carpets. You should LIVE for that. Wall paper? Harvest Gold?

    BRING IT ON – THAT’S THE MONEY

    Otherwise, if you want a brand new move in home, turnkey, with no work, yeah, you are going to pay through every orifice.

  50. joyce says:

    One way to prevent this is through greater competition among ISPs. If consumers and web companies have many ISPs to choose from, no one ISP can control who gets what. Ammori doesn’t see more competition among ISPs as a panacea, but he thinks it would help. And another network activist, Seth Johnson, believes competition can change things, but that it will take government action to make that happen. “Competition and regulation are not at odds in every case. Particularly in telecom,” he says. In any event, competition is a bigger issue than net neutrality. The internet has evolved, but the debate must evolve along with it.

    If Comcast’s last-mile of cable connection was available to all competitors under the same terms that gave dial-up service providers access to all copper telephone networks back in the 1990s, we would have more ISPs in more geographical areas. Consumers could simply switch providers whenever Netflix or YouTube started to get choppy. And that would give Netflix and YouTube more leverage in their deals with the ISPs. At the moment, this option—where ISPs are treated as “common carriers”—is on the table, but it seems like a remote possibility. Maybe it shouldn’t be. Instead of railing against fast lanes, we should be pushing Washington to explore ideas like this that could actually promote competition among ISPs. “In the present situation,” Johnson says, “the debate is misdirected.”

    http://www.wired.com/2014/06/net_neutrality_missing/

  51. Fast Eddie says:

    Nom,

    Gruber is absolutely right, look who is occupying the white house and got elected not once but twice. How’s that for a s.ucker move! Anyone with any street smarts could see this con job coming but evidently, people move in crowds. I grew up with guys like Obola; real f.ucking shysters. He talks a good game but there’s zero substance. Now, finally, people and events are starting to expose this d0uche. But, you notice, the MSM is still trying to bury this story.

  52. Fast Eddie says:

    The people who can not afford to live in their home are predominately in poor areas.

    If you can’t sell your house because you’re underwater, then you’re poor. Whether you choose to make payments or are capable of making payments is another story.

  53. I have had Comcast since 2002. Service and performance has always been pretty good, and I don’t pay for any higher tier of data. I have noticed something interesting though. It appears that Netflix must have a certain QoS guarantee because if someone is watching Netflix, everything gets faster! If I’m downloading a movie with Vuze (bit torrent client) I always make sure that I’m running Netflix at the same time. I think Comcast tries to throttle torrent upload/downlaod traffic but it seems to me that they lift this cap if you are receiving Netflix traffic.

    Consumers could simply switch providers whenever Netflix or YouTube started to get choppy.

  54. grim says:

    57 – Come on! Those prices are completely unrealistic. What kind of example are we setting for our kids? $50?

  55. Xolepa says:

    (52) In 1991, I paid $130k for my building lot, cash, here in Hunterdon. That was after a big price drop from a builder/speculator. The main developer had gone bankrupt a year or two earlier. My wife and I GC’ed, but with no direct experience in it. Had plenty of audio/visual retention over my life leading up to the project. Took 6 months from scratching dirt to CO. Cost of building was $65 psf including septic and well, lot not included. That included upgrades like 6″ walls, Pella Designer windows, 5 zone hot water heat, 2 zone Trane top of the line (back then) AC, steel I beams, 9′ ceilings in basement.
    At times it was hell. We did it, though. Never regretted it one bit.

    I would expect similar GC cost to be about $110 psf nowadays. $50 psf does not exist anymore.

  56. Anon E. Moose says:

    X [60];

    $50 psf does not exist anymore.

    Builder doesn’t have to live there. “Engineered” materials (read as – sawdust and glue for beams); “contractor grade” appliances; cheap finishes. Factor in volume discount a builder might get over a 1-shot DIY GC, and I can see them slapping something up for $50.

  57. grim says:

    60 – My $50sf estimate was only the variablized portion, it didn’t include an initial fixed cost of approximately $100k. On a 2000 square foot house that comes to $100sf, dropping somewhat thereafter. You can still do $75sq. Sure as shit not with Pella windows, solid doors, real wood floors, etc. You’ll have hollow doors, no frills hardware, carpet over subfloor on the second floor, prefinished hardwood on the first, minimal in ceiling lights, cheap simple trim, basic baths and kitchens, $50 fixtures, very basic powder room, no fancy rooflines, vinyl all around, basic front door, etc.

  58. Xolepa says:

    Since 1991, labor has gone from local tradesman to Hispanic work. Slight labor cost decrease.
    Lumber: up about 30%, including junk stuff
    Copper for electric. double to triple
    Plumbing: copper piping replaced by Pex. Less work involved, overall no change
    Heating: High efficiency mandates, double the cost
    Foundation: twice the cost due to concrete increases
    Basement walls, twice the cost of concrete plus need skilled labor on this.
    Kitchen: double to triple
    If septic, 6 times the cost of 1991
    Hardwood, tile, plumbing fixtures, all that has gone up considerably.
    $50 psf in 1991 was about the bottom line when you add up all the costs. Can’t happen in NJ now. There was a survey put out several weeks ago, average home to build in Northeast is $110.

  59. jj says:

    terriblerealestateagentphotos.com

    Uglyhousephotos. com

  60. jj says:

    Average cost to build a new home in Long Island on an empty plot is 180 per square feet.

    NY Rising/FEMA gave folks 160 per square feet and just cant be done. And if can be done formica and particle board etc

    200 per square feet is average for a home with high end finishes.

  61. Libturd in Union says:

    “Lots of value to be had. Don’t joke about piss and shit on the wall to wall pink carpets. You should LIVE for that. Wall paper? Harvest Gold?”

    Absolutely Grim! When we bought our multi, I spent 2 days with a needle-nose plier ripping out carpeting staples from all of the beautiful original hardwood floors. Tons of wall paper to remove too. Sweat equity baby. It’s the name of the game. Our GR home was in much better shape when we bought it, but that’s only because it fell out of contract twice the nine months before.

  62. Libturd in Union says:

    And the market rallies on.

  63. Ragnar says:

    Comrade,
    Really? I only see Fox playing up the Graber story. This Sunday the rest of the media seemed to only offer up slow pitch softball questions prefaced with “good news” re obamacare. The much more important question never asked by the media is when did the US cease to be a constitutional republic and start allowing de facto law to be written by bureaucrats and “experts” and lobbyists via federal agencies. They like most Americans are blind and deaf to it.

  64. Juice Box says:

    On the boat ride back home. Seems the captain wants to do some wake jumping.

  65. chicagofinance says:

    jj: you want to show me some sac? Buy some RIG or PBR bonds…..and I ain’t talking Pabst…..

  66. NJT says:

    #66

    ” I spent 2 days with a needle-nose plier ripping out carpeting staples from all of the beautiful original hardwood floors.”

    I’ve done that same, several times. Why do people do that!? (staple carpets to hardwood floors).

    I could understand tenants (that don’t have the landlord over, at all) but a home owner?

    An unsecured carpeting with a pad underneath (if cut EXACT) hardly moves (if you want to go cheap DIY).

  67. joyce says:

    Ill. cop allegedly pulls over bus to deliver son’s lunch
    Ill. sheriff’s office investigating complaint that an officer pulled over a school bus while on its route — outside his jurisdiction — to deliver lunch to his son

    By Lisa Black
    Chicago Tribune

    JOHNSBURG, Ill. — An Illinois sheriff’s office is investigating a complaint that one of its officers pulled over a school bus while on its route — outside his jurisdiction — to deliver lunch to his son onboard, according to authorities and a police report.

    Lt. Brian Keller used his unmarked black Dodge Charger with emergency lights to conduct a traffic stop about 7 a.m. last Tuesday in Johnsburg, Ill., according to a Johnsburg police report filed Thursday by the bus driver.

    “The apparent purpose of the stop was to issue his son his lunch for the day,” according to the report, which identified Keller as a deputy sheriff in Lake County. “The complainant was advised that documentation would be made, however, she needed to contact (the Lake County Sheriff’s Office) regarding the incident.”

    The report ended with “no further,” apparently meaning the case was closed. Johnsburg police released the report but did not return several calls seeking comment.
    Lake County officials are investigating the complaint, Undersheriff Raymond Rose said.

    “We received information regarding allegations of inappropriate actions by Lt. Brian Keller,” Rose said in a written response to questions. “As a result of that, Sheriff (Mark) Curran and I have ordered an internal investigation into the allegations.”

    Keller, a former chief in the sheriff’s department who reported directly to Curran, only recently returned to work with a new job title as a lieutenant working in court security, Rose confirmed.

    Keller could not be reached.

    The bus driver, who works for Durham Bus Service, filed the complaint.

    Molly Hart, a spokeswoman for Durham, confirmed that the bus was transporting high school students. The driver did not return calls seeking comment.

    The bus was headed to Marian Central Catholic High School in Woodstock, Ill., where officials referred questions to Durham Bus Service. The school is about 9 miles from where the bus was pulled over.

    Copyright 2014 Chicago Tribune

  68. jj says:

    chicagofinance says:

    November 18, 2014 at 3:16 pm

    jj: you want to show me some sac? Buy some RIG or PBR bonds…..and I ain’t talking Pabst…..
    any particular cusips, I see some ones that are converts that look juicy

  69. NJT says:

    #72

    Twenty…oops, sorry, I forget my age sometimes, I mean thirty years ago everyone would have got a good laugh outta it.

  70. 30 year realtor says:

    You cannot build for $50 per square foot! Builder cost runs $80 per square foot and increases from there based upon design and materials.

  71. joyce says:

    If a non-cop parent decided to slow/stop in front of a school bus to do the same task, I doubt then and now people would laugh.

    NJT says:
    November 18, 2014 at 5:45 pm
    #72

    Twenty…oops, sorry, I forget my age sometimes, I mean thirty years ago everyone would have got a good laugh outta it.

  72. Grim says:

    Who said anything about $50 a foot?

  73. chicagofinance says:

    Wholesome family entertainment….
    Mexican man kills best friend, then cuts off his pen!s and feeds it to dog

    Mario Alberto Lizalde Reyes said he and pal Mario Hernandez Banda were drunk and walking Reyes’ dog when Banda tried to touch him ‘in a sexual way.’ Reyes said he then shot Banda and cut off his gen!tals, which he eventually gave to his dog. He is facing life in prison for Banda’s death.

  74. The Original NJ ExPat says:

    [78] I’ve seen that happen several times on primary dealer trading floors.

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