From NJ1015:
Demand for housing in New Jersey on the rise — It’s a seller’s market
The New Jersey housing market, which has been depressed since the Great Recession, is showing signs of firing up.
According to Rob Dekanski, a Realtor with RE/MAX 1st Advantage, inventory levels in the Garden State are now lower than they’ve been in the past 18 years, which is very good news for people selling their homes.
“There’s less to choose from and buyers are fighting over less inventory, enabling the sellers to ask for a little bit more money,” he said.
He estimated that depending on the specific town and the quality of the school district, homes are selling for 2 to 10 percent more than they were a year ago at this time.
“For sellers, they have a great, great, great market. We’ve seen a lot of bidding wars, not a lot to choose from, a lot of buyers fighting over the same properties, so if it’s a good house they’re flying off the shelves,” he said.
Amber Noble Garland, a Realtor with Keller Williams Realty said sellers, for whatever reason, are sitting on the fence.
“We are literally just kind of at a rubberneck, and there are just not enough homes on the market,” she said.
“I couldn’t think of a better time than to sell than now, and this is not like a pickup line, she said. “This is the real deal.”
She said for a number of years in New Jersey there was a backlog of foreclosures, and buyers have been able to get very good deals — but now things are leveling out.
“Sellers are really getting what their home is really worth, and buyers are having to pay retail versus wholesale or discount,” she said.
Noble Garland said she’s doing a lot of group texts and chats, asking other real estate agents about new properties coming on the market because demand is so high.
“That’s something that we haven’t seen for quite some time, so there’s a real frenzy going on and particularly in Central New Jersey,” she said.
Dekanski said while this is an excellent sellers market, it’s also a good time to buy.
“The sooner you get in the better a price you’re getting compared to what it’s going to be down the road, so we are in an appreciating market,” he said. “Plus mortgage rates are still very good so it’s a good time to lock in a favorable rate.”
Good Morning New Jersey
Good Morning, Mike.
I laugh at how realtors are afraid to call a healthy market a healthy market. If buyers are paying retail, not getting a discount, that’s a normal, isn’t it? Can they really be that warped that only the GO-GO Aughts bubble years were normal? Are there no realtors left who survived the crash and remember the carnage that was done?
Diplomacy working?
Exclusive: North Korean ships head home after China orders coal returned
http://mobile.reuters.com/article/idUSKBN17D0D8?utm_campaign=trueAnthem:+Trending+Content&utm_content=58ec640104d3014cfd803ac8&utm_medium=trueAnthem&utm_source=twitter
Finally saw that United video – given the screaming and odd behavior, I wonder if the gentleman had some sort of mental handicap/disability. I understand there was some statement about being a doctor and seeing patients in the morning, but I can’t imagine a Physician acting in such a manner – the terrified screaming, the catatonic behavior. Not that this really matters, since the process should be random and not biased towards some passengers. Clearly this wasn’t handled correctly, no doubt, they should have managed it at the gate. In this case a random selection clearly chose the wrong individual.
If I was on the flight, I would have grabbed the $800 voucher. Last time flying back from Miami, we were called by United on the way to the airport, and were offered vouchers for overbooking. We negotiated $600 a piece for the 3 of us, $1,800 in vouchers. Easy 3 RT first class tickets in the US. We stopped off at Miami aquarium for a few hours, had a bite to eat, and flew out later that evening.
I never heard that $800 was a limit for a voucher before. Negotiating the $1800 for 3 passengers on the phone was relatively easy. Between you and me, I grab vouchers any time I can. If it’s the difference between coming home at 6pm or 10pm – what’s the big deal? I just used $500 in vouchers to book 3 flights to Orlando in December.
Vouchers the best thing going, especially if you have status. If you have a little bit of travel flexibility, you can absolutely make overbooking work in your favor. I mean, I haven’t paid for a personal flight in like 5 or 6 years now. That said, I’m on track to do 90-100,000 miles this year.
Looks like they broke the dude’s nose in the video. Wonder if that’s why he started screaming.
Not to defend United, but it seems lots of people are criticizing airlines for overbooking flights.
I suspect they never missed a flight before, because if they had, they would have been offered a seat on the next plane for no charge, or at least accommodation on another flight.
Can you imagine if you needed to buy a completely new ticket if you missed a flight? It would be anarchy in the airport. Can you imagine the hardship you would be putting the family in that got caught in traffic on the way to the airport because of traffic?
So, the plane leaves with an empty seat, or seats, and you are given a seat on the next plane. So instead of making a profit, you are now a loss, as you took up two seats and paid for one.
So, airlines overbook based on the probability of missed passengers. When the math doesn’t work in their favor, they offer payment to passengers in exchange for giving up their seats. Generally it’s done in a reverse auction style – offer $200, offer $300, offer $400, offer $500, offer $600. 99 times out of 100, passengers are very happy to take these vouchers. Hell, most of the time when I am trying to hold out for $400+, there are young travelers absolutely ecstatic to take a hundred less than me, because it means a free vacation, or a trip back home during summer or winter break.
Looks like they broke the dude’s nose in the video. Wonder if that’s why he started screaming.
If that’s the case, they should go to jail.
There are some other videos posted online from when the passenger ran back into the plane, where he is repeatedly mumbling “kill me, kill me, kill me” and “I need to go back home, I want to go back home”.
Ironic that so many on that plane were criticizing the fact that the police/marshalls were called to eject the man, and shooting video, but nobody offered to give up their seat so that he could fly home.
Like I said before, I would have gladly offered my seat in this situation.
Maybe just a bloody lip. Better video of the aftermath in this article.
https://patch.com/illinois/chicago/united-airlines-drags-passenger-plane-ohare-airport
Passengers are saying that an officer forcibly slammed his head forward into the seat/tray table.
Man, this blog is special. Most of the calls made on this blog by the participants have been dead on. Between Lib producing top calls on the Dow to the pump’s calls on the labor and housing market, lots of money to be made off the knowledge on this blog.
Not many will agree with me, but the guy is in the wrong. Your name got picked, you know the rules, time to get off. Besides, it’s not like they are not compensating you for it. Best part, a plane full of passengers who would not give up their seat after witnessing this. If you think it’s so messed up, why not give up your seats ..,,hypocrites!
https://www.youtube.com/watch?v=c0PBEWbe_as
Yes, everything you stated is normal of a market that’s based on cycles. So this is all normal behavior depending on what part of the cycle you are in. If we are in the boom part of the cycle, and prices are dropping, that would be considered something not normal.
Anon E. Moose, Ghost of JJ says:
April 11, 2017 at 7:14 am
Good Morning, Mike.
I laugh at how realtors are afraid to call a healthy market a healthy market. If buyers are paying retail, not getting a discount, that’s a normal, isn’t it? Can they really be that warped that only the GO-GO Aughts bubble years were normal? Are there no realtors left who survived the crash and remember the carnage that was done?
As the passenger was pulled down the aisle, one passenger exclaimed, “Can’t United rent a car for the (employees) to get to Louisville?”
United Airlines claimed the flight was overbooked, but the passengers aboard the full flight were asked to deplane when four employees arrived at the gate and said they needed to take over the seats.
————–
“Flight 3411 from Chicago to Louisville was overbooked,” the airline said in a statement. “After our team looked for volunteers, one customer refused to leave the aircraft voluntarily and law enforcement was asked to come to the gate. We apologize for the overbook situation.”
————-
Even though the Chicago Police Department was not involved in the incident, many news media outlets that didn’t realize Aviation Department Police are a different agency called Chicago Police for comment. Instead of remaining quiet on the matter, CPD told reporters the man “fell” on his face and injured himself. In a statement, CPD described the passenger as “irate” and said aviation security officers “attempted to carry” the man off the plane “when he fell.”
https://patch.com/illinois/chicago/united-airlines-drags-passenger-plane-ohare-airport
The “cop” was placed on leave, they are not like NY/NJ PA cops. Aviation police officers are not full cops in Chicago, they are unarmed and are told to run and hide if there is an active shooter.
http://chicago.suntimes.com/news/viral-video-kills-chance-aviation-security-officers-will-be-armed/
Department of Transportation protocol is to call the local police to do the ejecting. In my opinion that is wrong it should be the Feds, they should own up to airport security theater.
FYI – the next flight was not until the following afternoon, and yes the “doctor” was acting like an entitled bitch, said he was going to call his lawyer? Next time fly first class…
Google maps says it’s a 4.5 hour drive between the two cities. When you factor in everything, how much quicker is it really flying vs driving?
PF [10:01];
Google maps says it’s a 4.5 hour drive between the two cities. When you factor in everything, how much quicker is it really flying vs driving?
I used to say I won’t fly anyplace I can drive in 6 hours. Now (even before the latest UA incident) it’s more like 12. My last flight was to Seattle from Newark 3 years ago, when I thought it might be the last time I saw my brother. Before that, I flew commercial to Europe because the boats are too slow and private jets are too expensive.
Flying commercial isn’t even particularly cheap anymore. I used to get regularly weekend deals for regional NE flights that replaced several hours of driving for $100 R/T. Now, try getting a family of 4 to Florida for less than $1000. Then add the indignity of submitting to security theater — the only window seat worth having on any plane looks forward.
United would be much better off making sure that they let nobody on that cannot stay on. Better for people to scream in the terminal than in the plane. I saw them entice seated people off a plane last month. Much less efficient and more irritating than getting it right before boarding.
Is this new?
So let me get this straight.
3 other passengers got up and left the plane without incident?
Grim,
That guy was the smartest of the bunch. For a bloody lip, he will receive millions from United. Bravo chap.
Oh and the top article is blumpkin jerk mateial. You can find same one written every year since 2000. I’ll take 30 years view over a fluff piece. Amber Noble Garland? Cmon, she changed her name when she got into the acting business (aka realty)
Get this straight — United made the decision to both oversell AND do so to 100% capacity, no margin for error. They REQUIRED an expected number of no-shows in order to get the flight off on time; it wasn’t good enough for them to plan on the plane going with 97% capacity. If, instead they targeted 3 standard deviations below full capacity (i.e., plan on one or two empty seats), 99.8% of the flights would get off without incident.
This is also why it takes so long to get people out after a weather or mechanical incident cancels a flight — they’re little to no unsold capacity downstream to get these people where they are going. Especially if its weather, not mechanical, the airline really doesn’t care if you sleep on the floor (the chairs are intentionally made uncomfortable for sleeping to avoid vagrants) in the terminal for three days.
It doesn’t help that Chicago and its environs are a one-party leftist autocracy. You want more government? Here you are…
If they can, every airline will oversell on the major routes, especially business travel routes, as passengers will routinely change flights and fly standby as a matter of course. The more flexible you are on accommodating last-minute flight changes, the greater the probability of flying an unsold seat. Routes are too competitive, prices are bottom of the barrel, the ultra low cost carriers are setting the baselines now. As long as there is an airline flying at 101% cap, nobody can compete with that flying at 97%. Hence the vouchers.
The airlines fly somewhere around 700,000,000 people domestically each year. Any give nday there are nearly 2 million people flying.
O’Hare has the total traffic, with average 2,580 departures and arrivals that day. There are 242 keystone cops at O’Hare. They are bound to break a few eggs in the process.
Give them tazers for the cattle call I say!
Nothing to see here…
http://www.nj.com/news/index.ssf/2017/04/port_authority_overtime_2016.html#incart_river_home_pop
Moose,
Market is not healthy because constricted supply and low interest rates would cause appreciation in a healthy market. Something is wrong.
Does this make me warped?
Anybody watching the Showtime show “Billions”.
This Sunday’s episode featured a political kingmaker from Albany. But it looks a lot like George Norcross.
Moose, and all of a sudden there are real estate agents being interviewed by the media and they are smart? You know these particular agents have the correct read on the market?
Pumpkin isn’t the only one who talks out their a$$.
30 yr, can you pm me?
Grim,
That article makes me wish I made a different career choice.
Phoenix, What do you need?
Oh
http://nypost.com/2017/04/11/doctor-dragged-off-flight-convicted-of-trading-drugs-for-sex/
30-yr [12:46];
True dat.
30 yr,
Career advise
re: 12:04 PM “Nothing to see here”
Grim, I know a few a PA cops. It is a nice gig with extensive overtime that is why many in the NYPD want to transfer there. Some pluses are they do not pay into their pension and they are in the New York State pension system so they can retire after 20 years. If they had prior military service they can buy up to three years of service to add into their pension and benefits are top notch. Down side is well terrorists and patrolling the path train, airports and bridges for all kind of perps and dealing with knuckleheads like the Dr who did not want to get off the plane.
One PA cop I know tried to trade up and move into my development. They couldn’t sell their existing home on the other side of the tracks even after lowering the price a bit so the deal expired so the house they want is now back on the market. They did buy in 2008 so I guess they overpaid a bit or don’t have the cash to take the loss.
Wow, really thought the dude was disabled or autistic.
Turns out he’s a moron.
Yeah like you said…they randomly picked the wrong individual. A spaz who threw a fit. Now they have a PR nightmare on their hands.
Interesting comments above… Definitely, some silly ones but for those concerned about the seller market it’s been definitely and interesting time to be in the real estate space.
PR nightmare? Stock is up today. The same sensibility that got Trump into office sides with United here. Fcuk that doctor. Only a snowflake would come to his defense. He brought this on himself. Security was not United by the way. Can’t blame security. Only wrong move by United was letting the passengers on the plane before deciding who is bumped. Much easier to make it so someone’s ticket doesn’t get them through the gate.
Speaking to Grim’s points. I used to always book travel on the worst travel days possible to take advantage of voluntary bumps. For years, Gator and I would book a trip to Europe or San Fran on night before Thanksgiving, take the bump till the next morning and fly first class plus get between $600 and $1200 per seat. We often only paid $300 for the ticket initially. It worked EVERY SINGLE TIME. We used to game Continental to the point where we would be traveling up front as Silver Elites while Platinum’s would be stuck in the rear. All it required was a call to Houston headquarters at 2am on the nose. Those days are long gone.
Steam,
You must feel stupid now. If you had only refused to be bumped then let Gator and yourself take a beating, you may have retired by 40. 😍
Yeah but then all of his dirty laundry would be aired out in public…
It gets better:
https://www.scribd.com/document/344845694/David-Dao#from_embed
Seems that the good Doctor, in addition to losing his medical license, has a mood disorder.
This fits. In the video, he runs back onto the plane in an agitated state, and chanting about getting home. First thing that struck me was that this guy was off his nut, possibly due to a pysch issue and he was off his meds. The blood you see was likely the result of self-inflicted wounds.
The airport police would not know that, of course, and would only know that an erratic person was both refusing to get off the plane, then resisting.
This will be quietly settled by both United and the family. And this guy’s days practicing medicine are over. Sadly, he did not seek this notoriety. Had he done so, I’d say “tough noogies, pal, karma’s a b1tch” but that isn’t the case.
No winners here. Except the family attorney.
United taking a beating on Social Media. This is funny.
https://www.youtube.com/watch?v=qB6uxOL6lkg
Grim,
$800, for the most part you are not getting me off the plane. The next flight was 3PM the next day. Full work day shot. If you are vacationing and can burn the day fine. But how many vacationers on the last short hop flight on a Sunday night. Whats that day going to cost you if you have a big client meeting. I usually plan my flights to give me at least one flight between myself and when I need to be there in case I get bumped. I always check in online the night before and check a free bag with United. I don’t know for certain, but I suspect the computer will weight the bump selection based on checked bags in the hold. I think the rule is still in place that a flight can’t leave with your bag in the hold and you not on the plane. When they are paging you in the terminal, you better get to the flight before they find your luggage. If you are late to the plane there is probably someone in the hold pulling your bag off. So to bump you with a bag will delay the flight further.
This is kind of a big deal. EU visa waiver gone for US citizens.
https://www.independent.co.uk/news/world/europe/europe-visa-free-travel-americans-european-parliament-vote-a7609406.html
Fab if you have a u.s. passport what is the issue?
Fab – that is awesome