From the APP:
Monmouth County median home prices start the new year by rising over the $800K mark
The median home in Monmouth County listed for $808,750 in January, up 2.5% from the previous month’s $789,000, an analysis of data from Realtor.com shows.
Compared with January 2023, the median home list price increased 13.9% from $699,950.
The statistics in this article only pertain to houses listed for sale in Monmouth County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.app.com.
Monmouth County’s median home was 1,960 square feet, listed at $388 per square foot. The price per square foot of homes for sale is up 12.6% from January 2023.
Listings in Monmouth County moved briskly, at a median 65 days listed compared with the January national median of 69 days on the market. In the previous month, homes had a median of 57 days on the market. Around 524 homes were newly listed on the market in January, a 10.3% decrease from 584 new listings in January 2023.
The median home prices issued by Realtor.com may exclude many, or even most, of a market’s homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Across the New York-Newark-Jersey City metro area, median home prices rose to $741,500, slightly higher than a month earlier. The median home had 1,509 square feet, at a list price of $533 per square foot.
Yassssss
First first
Even the retirement communities prices are insane down in Monmouth.
Date Sold 2/5/2024 $502,000 $527/sqft
Date Sold 8/31/2023 $340,000 $357/sqft
Date Sold 12/16/2016 $255,000 $268/sqft
Date Sold 10/29/2015 $150,000 $158/sqft
https://www.zillow.com/homedetails/20-Lexington-Ct-Red-Bank-NJ-07701/39333900_zpid/?
Juice: Rates will be lowered, and that will free up more houses, which in turn will drive down prices; or at least that’s the theory. Although, when rates got super low, ( 3 percent), that drop prices higher.
I think we’re going to need to hit a sizable recession for home prices to fall at this point, this would be a scenario where declining rates do not drive increases in home prices.
I don’t see rates having a large enough impact to inventory to materially cause reduced prices, and that doesn’t even account for the increase on the demand side. I think the most likely outcome of lower rates is an uptick in transaction volumes.
I feel like the current market has quite a bit of capacity to absorb supply. We’d probably need to see 6+ months of obviously elevated inventory to begin to push down home prices.
Again, peanut gallery, make no investment decisions based on my nonsensical blabbering.
1,500 sq. ft. at 741K in price.
Hmm… we’re Palo Alto with even higher property taxes!
I wonder what the price to build a SFH per square foot is right now in NJ, not including the land?
At my luxury FL island home spot, we have a neighbor who bought an overly modern house a couple years ago for 2.6m. Built about 25 years ago, it has a huge central room that must be crazy expensive to cool, and is impractical to use because it’s like an airplane hangar, 3 br when they needed 4, and too many stairs to get to the other rooms. So they hired an architect to tear down and rebuild it to their liking. But they are getting quoted 800 to 1000 per SF, so probably 3.5m to 4m additional to build a new house on top of the 2.6m they have paid. Their friends suggest they should instead buy another house with 4br that came on the market in the neighborhood for 2.9m, fix it up for less than 1m, and sell their current house for at least 2m.
It seems like the cost of new building has gone way up here. That in itself could be pushing up home prices too. I wonder if the same is going on in NJ. What are the key causes?
What the heck is this tweet from Joe supposed to mean?
https://twitter.com/JoeBiden/status/1756888470599967000
Neighbors selling their rundown home behind us for $800k. Would have gone for $550K at best precovid. Insanity.
Grim: That makes sense I guess, who knows, does a drop from 7 to 5 cause supply to increase that much? Will someone with a 3 percent mortgage give it up for 5? I guess we will see. A recession as per the experts have faded away, at least for now. But, there have been and continues to be a lot of white collar layoffs. They seem to have been ignored at the moment.
BRT – As in the Super Bowl was scripted according to the conspiracy nutters.
Biden does not tweet anyway it was probably Karine Jean-Pierre or some other minion.
Tell a rich guy he has to move from a 10k to a 3k apartment, this is what happens:
A man plummeted to his death from a luxury skyscraper in New York City in an apparent suicide on Sunday evening.
The incident occurred at 19 Dutch Street at Fulton Street in Manhattan’s Financial District, a luxury building where rents can reach as much as $10,000 a month.
The death is likely to be a suicide, sources suggested to DailyMail on Sunday night.
It comes after a string of jumping suicides in affluent neighborhoods around New York City in recent months.
Juice, damn, 50% up in six months….
No One, not sure on building costs, I haven’t done anything since pre-covid and don’t intend to…obviously, any quote is reliant on a bunch of factors….first it’s ‘retail’ and not cost…also depends on finishes and specs, you could be a 1.5x factor or more there…and, opportunity cost…slow market for local builders can turn some into GCs, but they may price it accordingly, ie. “not what I want to be doing but if you’re willing to pay me X then why not”….
Tend to agree with grim, going to need a hard rug pull in this market to see any softening at all……
BRT,
Biden’s social media team think they are showing how cool and hip Biden is, while mocking their critics.
Why can’t these two aging party leaders just please retire?
To serve and protect:
A woman who crashed her car while suffering a stroke was ordered out of her vehicle at gunpoint and cuffed by Washington police, before being mocked by jail staff as she lay on the floor for without help for more than 24 hours.
Nicole McClure eventually spent 17 days in hospital after having part of her head removed by surgeons and is now suing Thurston County police for ignoring her symptoms following the crash.
Dashcam video recorded state trooper Jonathan Barnes slamming her over the hood of his car demanding: ‘When’s the last time you used meth? When was the last time you used heroin?’
‘I haven’t … I don’t,’ she pleaded, ‘I’m confused. I think I’m tired.’
She lay vomiting and incontinent for more than a day at the county jail before any medic examined her, and she was finally rushed for emergency surgery.
So we elect people to do things for us that accept money from lobbies and never do what the people want. Why bother vote.
It’s like pushing your kid in the kiddie car- kid thinks he is steering, but the wheel isn’t attached to anything at all.
Maine’s Legislature voted down a bill that would have limited large-scale pumping of groundwater in the state. Poland Spring, the bottled-water giant, had lobbied aggressively against the measure.
The bill eventually made it to the full Legislature, where BlueTriton continued its lobbying.
The bill was voted down in the Maine State House and the Senate, with Republicans voting against it
50 percent in 6 months. Absolute insanity, but what do I know.
No One says:
February 12, 2024 at 9:10 am
Why can’t these two aging party leaders just please retire?
Well, they should have enough money, so that can’t be the answer.
They have pension plans, and they qualify, so that can’t be the answer.
Their houses are paid off, so that can’t be the answer.
Hmm, maybe someone has blackmail dirt on them that will come out if they don’t stay in and do their dirty bidding. You know they are all dirty.
Maybe they like money too much, and that lobbying cash just keeps pouring in.
Maybe they are just like other old people, that don’t want their keys taken away.
Maybe they are like young kids, and still want to have attention and be relevant.
No One says:
February 12, 2024 at 9:10 am
“Why can’t these two aging party leaders just please retire?”
I’d argue that the modern Dem party is completely devoid of competent, rational, leaders who are truly interested in good governance. As they’ve demonstrated in the failed cities and bankrupt states that they’ve governed for decades, they are truly only concerned with score settling and the ever more radical leftist policies that ensue. So I’m curious, is there a Dem anywhere that you would actually vote for Pres if Joe stepped aside — Gruesome, Pritzker, Phil Murph, Hochul, DeBlasio, Sanders, Warren, Carmella, Futterman, Booker, any of San Fran/DC/Philly/NYC/Baltimore/Chi mayors? Anyone?
Guilty before being proven innocent by a subdural hematoma. Welcome to American policing: Taxpayers, pony up. Just remember, this could be your mother, wife, or daughter.
McClure, 40, had left work early suffering from a headache and dizziness when she was spotted by Barnes driving too slowly and weaving out of her lane as she tried to get home to Olympia.
She did not respond when Barnes tried to pull her over, eventually crashing her car into a roundabout.
The officer pulled his gun on her and yelled at her as he approached the wreckage and she stepped out with her hands up.
He accused her of resisting after she did not respond to his demand that she drop the car keys clutched tightly in her hand.
‘She’s trying to use these keys to stab,’ he said on tape.
‘She’s trying to use these keys as a weapon.’
In his written report, the trooper also struck out a section detailing medical questions with the remark ‘Did not ask.’
He took her instead to a nearby hospital, where he did not mention the crash but where she was given blood tests for alcohol and drugs that eventually came back negative.
While in the jail, pressure was building inside her brain from a frontal-lobe subdural hematoma.
‘She was left with a notably deteriorating condition and continuing to ask for help,’ Vankirk said.
‘She was found in a puddle of her own urine almost a full day later.’
What about Glitchy McConnell? Isn’t that Repub still shuffling around in government buildings just waiting for another blue screen of death moment?
SmallGovConservative says:
February 12, 2024 at 9:37 am
No One says:
February 12, 2024 at 9:10 am
“Why can’t these two aging party leaders just please retire?”
I’d argue that the modern Dem party is completely devoid of competent, rational, leaders who are truly interested in good governance.
Did anyone see that RFK Jr. throwback commercial during the game last night? I thought it was clever, using a page from Uncle John’s playbook. It would turn the world on its side to have a ‘President Kennedy’ again.
The ad cost $7 million For 30 seconds. He will be lucky to get 7 million votes as an independent. At best a mediocre spoiler.
The sad story is that there are tens of millions of people actually enthusiastic for Biden and Trump. If there was no demand for them, we wouldn’t be suffering their supply.
Meanwhile that footwashing ad during the Super Bowl. Gross. I wonder who actually enjoyed that. A few flagellant Christians, and a lot of those “In this house” sign-planters?
They can’t retire. They probably aren’t allowed. Just like the mafia or any other crime syndicate, which is what they are. The instant you retire, you are a liability to them. Every senator serves a life term. I think that’s why the Bush’s and Clintons are insistent on president, because in that position, you get to retire.
Meanwhile that foot washing ad during the Super Bowl. Gross. I wonder who actually enjoyed that.
It’s good to make people feel uncomfortable. Makes them think. Too much comfort makes them lazy and complacent. Who cares if they “enjoyed” it. A taste of real medicine is good for the soul. Watch “The Florida Project.”
I get that all the time, I don’t feel comfortable doing this. Yeah, some say that 5 years later so they don’t have to do the hard cases. They will never be “comfortable” as that is work.
Or, as Bartebly said, “I would prefer not to.”
Kamala Harris says she is ready to lead. Everybody who sees her on the job, walks away knowing her capacity to lead. Take your pick, stick with Joe, or go with the arrogant Kamala, or the lunatic Trump. Or, stay home.
“Hedge funds, private equity firms, and investment trusts have been snatching up single-family homes all around the country for years, creating concern that homeowners themselves would be pushed even further out of the market. ”
grim says:
February 12, 2024 at 8:22 am
I think we’re going to need to hit a sizable recession for home prices to fall at this point, this would be a scenario where declining rates do not drive increases in home prices.
Very Stable Genius says:
February 12, 2024 at 10:50 am
“Hedge funds, private equity firms, and investment trusts have been snatching up single-family homes all around the country for years, creating concern that homeowners themselves would be pushed even further out of the market. ”
The land will still be there when the money becomes worthless.
Looks like NJ might actually get a bit of snow. Hopefully MurphyMouth doesn’t forget to brine the highway.
Defense Secretary Lloyd Austin, 70, has had his duties stripped and transferred to deputy Kathleen Hicks after he was hospitalized for ‘symptoms suggesting an emergent bladder issue.’
Retire already. You ain’t broke azz.
The Gulf Stream could COLLAPSE as early as 2025 – plunging Europe into a deep freeze, scientists warn.
Buy stock in compressed natural gas. It’s not like the Europeans can buy it from Russia cheap anymore thanks to the pipeline the “Russians” blew up. Hehe.
You got them by the cojones now, it’s time to squeeze. Or “make ’em pay” as Donald Trump would say.
A high-flying teacher at a Manhattan high school has refused to explain what she was doing in a locked staff bathroom stall with a 17-year-old pupil, or why she later handed him a wad of cash in a stairwell.
Shoshana Leffler, 37, remains licensed to teach after resigning from the High School for Health Careers and Sciences last year rather than face questions over the seven-minute tryst that was partially caught on surveillance video.
But investigators have concluded the Princeton University graduate ‘engaged in an inappropriate relationship’ with the boy who should have been in class at the time.
Princeton University. Maybe spreading some Grey Poupon on his hotdog for him? Hehe.
Eddie,
You sound like Uncle Junior.
Fast Eddie says:
February 12, 2024 at 9:43 am
Did anyone see that RFK Jr. throwback commercial during the game last night? I thought it was clever, using a page from Uncle John’s playbook. It would turn the world on its side to have a ‘President Kennedy’ again.
You sound like Uncle Junior.
We’ll have a man on the surface of Mars by the end of the decade!
The promise of NATO – that an attack on one is an attack on all – keeps American families safe.
It’s that simple.
Any individual who calls into question the durability of that vow is a danger to our security.
I guess I missed the part where Ukraine is part of NATO
Article in BBC Europe on Ukraine, they are running out of men to conscript, and are sending out conscripts officers to find the ones who have avoided conscription. Social media outlets that informed people when the conscription officers would be in a particular town have been shut down. According to the article, the enthusiastic for the war has waned. Some people act like nothing has changed. I can certainly understand why these young men don’t want to go and be killed or seriously injured. But, it does not look good, when the Ukrainian government is pleading for more arms, but young men don’t want to go and fight.
Hehe.
BRT’S comment.
Yeah if I were a young man in Ukraine I wouldn’t want to die there either over political bull shite.
I just read that Tay and Trav had chicken fingers and fries at 5:00 am! Thank God she lifted the team to a win!
No One – I was participating in a RE related thread on reddit recently where someone else expressed their surprise at the eye popping price to build from scratch. This was in the NC research triangle. The thread was picked up and an chorus swell of well off folkswho have explored going down this route chimed in that they too were ultimately swayed to purchase used and reno as required due to the absurd quotes.
Phoenix – I was driving back from a store the other day and my finger slipped on the radio band dial button. I landed on an AM station with an ad for some natural prostate something something and the guy on the radio goes ” no such thing as quick and painless, Llyod Austin thought he could get away with it… well look where is now”… paraphrased the surgery and complications fkd him up. wow.
3b – They are trying to recruit 1/2 million more men now. There are reports of many women serving on the front lines too.
Although “1/2 million casualties” is repeated online including the NY Times. I’ve read elsewhere that the true casualty level a state secret, is higher. This makes sense given the average age of a Ukrainian soldier is above 45, a lot of men must have been injured or died that aren’t being included in the 1/2 million.
https://www.nytimes.com/2023/08/18/us/politics/ukraine-russia-war-casualties.html
Juice: That is an incredible high casualty rate, or to me it seems to be. It sounds like WW1, where they are just throwing bodies at it, but Russia has more bodies. The article quoted a young 24 year old who is now serving as a conscription officer due to being seriously injured at the front. He said there are people going on about their everyday lives like nothing at all has happened.
What do the Ukrainians do if they simply run out of bodies to fight?
I saw video of them sending out a kid with down syndrome on the Ukraine front line
3B – “What do the Ukrainians do if they simply run out of bodies to fight?”
Chuck Schumer says it will be your kids next…
BRT: Do you think that video is legit?
“I guess I missed the part where Ukraine is part of NATO…”
C’mon, don’t you get the liberal transitive theory?
We must go to war with on behalf of a non-NATO member to *prevent* having to go to war on behalf of an actual NATO member (Poland).
Think about that….lol.
Also, the conscription age for Ukranians right now is 27, floor. They will likely drop that to 25 soon. If you are a male without certain family parameters and not yet conscripted it is effectively martial law, ie. you can’t leave the country because you may be needed TBD as trench fertilizer.
Remind me how many times has camo-shirt, handout looking President of Ukraine fired senior commanders now? We on the third round of senior military strategists yet? Hey, WTF, let’s do four!
“What do the Ukrainians do if they simply run out of bodies to fight?”
They’re fucked. Which is to say, they are fucked. Right now.
The Third Reich with insane technological superiority could not defeat the waves of Russian humanity sacrificed on the front….you think the Ukranians can, lol.
The value of any individual life in Russia/former USSR is less than zero….they will throw – because they have – unlimited human fodder at you and you just can’t compete…get off the field, it’s a certain loss….
Left: That was my point. If the Ukrainians don’t have the bodies, then they can’t fight. You need bodies to fight.
Left: I am surprised it’s not lower.
I know someone in Hungary who said all the rich Ukranians are driving around in high end sports cars and staying in Hungary. We send the rich little punks the money to live the life next country over while they grab their poor and send them to the front lines with no chance. This was over the second it started but the media was used to convince everyone it was winnable.
I’ve seen plenty of street fights during my 11 years in New Brunswick living on Easton ave right outside Old Queens. Sometimes, the smaller dude just had to recognize that he should walk away but didn’t.
According to the AP, Egypt is threatening to void their peace agreement if Netanyahu goes ahead with his plan for an all out attack on Rafah.
BR
Things happen. Even under the best of circumstances. Count your blessings.
Does this muppet even know what she is talking about? Put your irrational fear back in your Fendi purse and go back into your house in your gated community.
An economist is suggesting that cheap Chinese electric vehicles be kept out of the United States automotive market due to a “security risk,” which is an eerily similar situation that Tesla was put in a few years back in China.
“I think we should try and keep them out,” Heritage Foundation economist Diana Furchtgott-Roth said, according to Fox News.
3b, looks raw and legit to me
https://twitter.com/SlavFreeSpirit/status/1756685997406912713