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Category Archives: South Jersey Real Estate
South Jersey Foreclosures
From the Press of Atlantic City: Sheriff’s sales struggle to unload foreclosed properties The amount of distressed real estate is expected to increase as unemployed workers who lost jobs in 2014 fall behind on mortgage payments — and as the … Continue reading
The Other New Jersey
From the Press of Atlantic City: Still dropping: Home prices struggle to recover from recession Robert Szostak is worried about how cheaply he must price his four-bedroom home in Middle Township before it sells. A few prospective buyers toured the … Continue reading
Prices decline in South Jersey
From the Press of Atlantic City: Home-price reports show gains, declines in South Jersey Home prices continued to increase moderately nationwide in the third quarter, the National Association of Realtors said this week, but in the South Jersey shore region, … Continue reading
Time to leave South Jersey?
From the Press of Atlantic City: Atlantic County foreclosure rate second-highest in nation As Atlantic City’s decline drew national attention in August, the area rose to national prominence in another metric. One out of every 292 Atlantic County homes was … Continue reading
Posted in Economics, Employment, Foreclosures, South Jersey Real Estate
19 Comments
Funny way of defining “success”
From the South Jersey Times: Real estate markets aren’t known for consistency, but as South Jersey inches toward pre-recession normalcy, one old adage appears to remain true — it’s all about location. Specifically on the county level, data from recent … Continue reading
Posted in Demographics, Employment, South Jersey Real Estate
48 Comments
Where are all the NJ foreclosures?
From the Star Ledger: Foreclosures spiking in N.J., paced by Atlantic City Foreclosure activity in New Jersey jumped in August, a new report shows, leaving the state with one of the highest foreclosure rates nationwide. New Jersey has the nation’s … Continue reading
South Jersey Recovery Lagging
From the Press of Atlantic City: South Jersey still lags nation in real estate recovery South Jersey’s struggling real-estate market is lagging New Jersey’s construction recovery, an economist told the New Jersey Builders Association on Tuesday. New Jersey has seen … Continue reading
Posted in Economics, Housing Recovery, South Jersey Real Estate
76 Comments
Bailout unlikely for flood insurance program
From the Insurance Journal: Prospects Dim for Bills to Delay Flood Insurance Rate Hikes Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill. The leaders of the … Continue reading
Posted in Economics, Politics, South Jersey Real Estate
10 Comments
Southern Jersey Shore home prices begin to tick up
From the Press of Atlantic City: South Jersey Shore’s home prices finally on the rise The shore area of South Jersey finally may be joining the improving housing market elsewhere in the nation. The median existing single-family home in the … Continue reading
Jersey Comeback? Not in AC.
From Bloomberg: Christie-Backed Revel Atlantic City Plans Bankruptcy Revel AC Inc., the casino owner that New Jersey Governor Chris Christie bet on to revive Atlantic City, plans to file for a prepackaged bankruptcy that will reduce its debt burden by … Continue reading
Sandy Recovery: Significant multiplier or short-term pop?
From Bloomberg: Sandy Recovery Spurs Hiring From Furniture to Plumbing The first customers Michael Guarino saw after superstorm Sandy asked to cancel orders for furniture no longer needed in their damaged homes, threatening the survival of a business his family … Continue reading
Inquirer takes a slam at South Jersey (for good reason)
From the Philly Inquirer: N.J.’s local tax bills keep spiraling upward Ted Marvel pays $4,900 in annual property taxes on his 1,000-square-foot home in the heart of Collingswood. In fact, his monthly tax bill – $407 – is starting to … Continue reading
Posted in Comp Killer, Politics, Property Taxes, South Jersey Real Estate
91 Comments
Just a little bump in taxes
From the Philly Inquirer: In Burlington County, a 458 percent tax hike with Christie’s blessing When two New Jersey towns asked voters to approve a property-tax hike last month, Gov. Christie scorned them. The state’s other 564 municipalities didn’t seek … Continue reading
Posted in Property Taxes, South Jersey Real Estate
150 Comments
Location, location, location, or something else?
From the Record: Location still holds key to value The decline in housing values has not fallen equally on all towns. A Record analysis of home prices in the first half of 2011 (the latest available in public records) found … Continue reading
No big price drops at the shore?
From the Philly Inquirer: At the Shore, many homes retained value after a wild ride If you have the money – and that means cash – you can buy your dream house at the Jersey Shore. If you don’t, as … Continue reading