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Monthly Archives: September 2017
Otteau September Update
From Otteau Group: September MarketNEWS After declining by 7% in April, home purchase contracts in New Jersey have increased for four consecutive months. In August, the number of purchase contracts rose by 3% compared to the same month last year. … Continue reading
Posted in Economics, New Jersey Real Estate
53 Comments
NJ’s “middle class” about to be slaughtered
From the APP: Trump tax plan kills key deductions, wallops NJ homeowners New Jersey taxpayers would lose key deductions under a proposal unveiled this week by President Donald Trump: property taxes and state income taxes, experts said. The tax reform … Continue reading
Posted in New Jersey Real Estate, Politics, Property Taxes
141 Comments
July home sales beat expectations
From CNBC: Case-Shiller home price index rises 5.9%, beating expectations The S&P CoreLogic Case-Shiller home price index rose 5.9 percent in July compared a year ago, better than the 5.7 percent expected by economists polled by Reuters. The rise was … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
124 Comments
Good time to buy, but not gunna.
From HousingWire: NAR: Home sales may be falling, but housing sentiment is on the rise In four of the past five months, including the most recent report in August, showed existing home sales continue to fall, however this is not … Continue reading
Posted in Demographics, Economics, National Real Estate
165 Comments
Boomers, not millennials, are the problem.
From CNBC: Baby Boomers resist selling homes, helping to keep prices high and inventory low: Zillow’s Gudell If you’re looking for a reason the housing market is so tight, perhaps the Baby Boomers are to blame. For generations, after the … Continue reading
Posted in Demographics, Economics, National Real Estate, New Development
78 Comments
Newark is a surprisingly good fit
From Yahoo Finance: Why Newark could be perfect for Amazon’s new headquarters New York, San Francisco and Denver have all been heralded as the best city for Amazon’s new second headquarters, HQ2. But what about Newark? Yes, the city in … Continue reading
Posted in Economics, New Development, New Jersey Real Estate
121 Comments
Choking the market
From MarketWatch: Existing-home sales fall in August for the fourth time in five months Existing-home sales in August dropped for the fourth time in five months as real-estate agents continue to blame a lack of available homes to buy. The … Continue reading
Does anyone really want Amazon?
From the Philly Inquirer: Beware, Philadelphia: Amazon could drive up housing prices When Amazon announced its search for a second North American headquarters, government officials, developers, and residents in cities nationwide embraced the prospect as decidedly good news. Including many … Continue reading
Posted in Demographics, Economics, Employment, New Jersey Real Estate, Philly
68 Comments
Best places to live in America
From Money via the Star Ledger: These 4 N.J. towns are ‘the best places to live in America’ (or so Money magazine says) MONEY magazine’s annual “Best Places to Live in America” list features four towns in New Jersey this … Continue reading
Posted in New Jersey Real Estate
200 Comments
Noticing some extra room these days?
From the Star Ledger: Worry as Census says N.J.’s population shrank for the first time in years New Jersey may have lost population for the first time in a decade, new data shows, potentially imperiling economic growth and the number … Continue reading
Will flat fee take off? (probably not)
From CNBC: No more 6% commission – these brokers will sell your house for a flat fee In an increasingly crowded and competitive real estate market, brokers are messing with traditional models, and that could mean big savings for sellers … Continue reading
Posted in National Real Estate
62 Comments
NJ Income Jumps to #3 Nationwide
From the Star Ledger: N.J. shoots up the state income rankings, reverses depressing trend New Jersey households made $76,126 last year, a 4 percent growth over 2015, according to recently released Census data. The growth shot New Jersey from the … Continue reading
Posted in Demographics, Economics, Employment, New Jersey Real Estate
146 Comments
The biggest barrier to starter homes – zoning laws and NIMBY
From HousingWire: Trulia: Housing market fails to produce what buyers really want The gap between the homes consumers want and the homes available for sale continues to grow in many markets across the U.S., according to the latest Mismatched Markets … Continue reading
Posted in Demographics, Economics, National Real Estate, New Development
79 Comments
The New Weehawken
From the Star Ledger: How the hottest real estate market in N.J. literally divided this tiny town Seemingly everyone knew this tiny cliffside town — all 1.4-square miles of it — would one day become a dynamic real estate market. … Continue reading
Posted in Gold Coast, Housing Recovery, New Development
256 Comments
Will rent control hinder Newark redevelopment?
From the Star Ledger: Residents win rent control battle; landlords face steeper hurdle to raise rents Landlords looking to raise rents on rent-controlled buildings will have to meet a higher threshold to do so under new measures passed by the … Continue reading
Posted in New Development, New Jersey Real Estate
46 Comments