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From NJ Real Estate Report - view blog entries - visit this blogJuly 18, 2008 at 6:04 am ET
Happy Recession Hour GTG (Get Together)
Friday, July 18th 5:30pm
Johnny Utah’s ( http://www.johnnyutahs.com )
25 West 51st Street, NY
Cancel your f’n plans, I don’t want to hear excuses.
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This is the time and place to post observations about ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 17, 2008 at 6:16 am ET
Depression Hour GTG (Get Together)
Friday, July 18th 5:30pm
Johnny Utah’s ( http://www.johnnyutahs.com )
25 West 51st Street, NY
Cancel your f’n plans, I don’t want to hear excuses.
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From Newsday:
Forecast says NJ in recession until early 2010
New Jersey ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 16, 2008 at 5:54 am ET
From Bloomberg:
New 20% Down Payment Makes Savers From Profligate U.S. Spenders
The U.S. housing crisis may accomplish what years of parental hectoring couldn’t: Turn Americans from spenders into savers.
Spending will fall because homeowners can ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 15, 2008 at 5:51 am ET
From the LA Times:
Fed slaps new rules on mortgage lenders
The Federal Reserve clamped down hard on mortgage lenders Monday, issuing rules designed to curb the sorts of risky and deceptive lending practices that helped trigger ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 14, 2008 at 6:52 am ET
From the Press of Atlantic City:
Short sales saving more locals from foreclosure
An alternative to foreclosure for some homeowners called a short sale is becoming more common in southern New Jersey, according to attorneys who ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 11, 2008 at 5:46 am ET
This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 10, 2008 at 5:57 am ET
From Bloomberg:
U.S. Foreclosures Rose 53% in June, Bank Seizures Almost Triple
U.S. foreclosure filings rose 53 percent in June from a year earlier and bank repossessions almost tripled as deteriorating property values and higher payments ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 9, 2008 at 6:06 am ET
From the Star Ledger:
Housing slump seen stretching further
Signs are emerging the U.S. housing market’s long slump is likely to fester through the summer, and the real estate market may not recover for at least another ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 7, 2008 at 6:11 pm ET
From the AFP:
Fed study says home price drop ‘necessary’
Large-scale government intervention in the US housing crisis would be counterproductive and prevent a “necessary” correction in home prices, according to a Federal Reserve study released ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 7, 2008 at 5:40 am ET
From the Gloucester County Times:
Pa. out-hustling N.J. in battle for business
Gov. Jon Corzine, flanked by some of his top advisers, invited eight of the state’s top real estate executives to the governor’s mansion for coffee ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 4, 2008 at 6:05 am ET
This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 3, 2008 at 5:48 am ET
From Bloomberg:
Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
At 10:40 p.m. on April 27, a blaze at the beige Victorian house at 19 Nye St. lit up a neighborhood littered with boarded-up homes ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 3, 2008 at 5:45 am ET
This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 2, 2008 at 6:08 am ET
From Newsday:
Poll finds New Jerseyans glum about economy
New Jerseyans aren’t feeling especially festive with the Fourth of July holiday approaching. A new poll finds them increasingly worried about their finances.
The survey by Fairleigh Dickinson ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJuly 1, 2008 at 6:10 am ET
From the Press of Atlantic City:
N.J. economic outlook sinks as joblessness rises
The Federal Reserve’s forecasting gauge for New Jersey’s economy has turned negative for the first time in 17 years.
The leading index of the Fed’s ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 29, 2008 at 5:58 am ET
19 Yale Terrace, Montclair NJ
Purchased: 6/1/2005
Purchase Price: $762,000
MLS# 2503228
Sold: 6/26/2008
Sale Price: $705,000
19 Woods End Road, West Orange NJ
Purchased: 6/1/2004
Purchase Price: $379,000
MLS# 2493002
Sold: 6/27/2008
Sale Price: $362,500
31 North Road, Chester NJ
Purchased: 7/23/2004
Purchase Price: $425,000
MLS# 2498591
Sold: 6/26/2008
Sale Price: ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 28, 2008 at 6:30 am ET
Now Open, Part II!
Rich was nice enough to provide us with our weekend fill of Bergen County comp killers! Thanks Rich!
Harrington Park FUTURE Comp Killer!
182 SCHRAALENBURGH RD
Purchased $600,000 9/21/2006
MLS# 2825662
Listed 6/24/2008
OLP $579,000
Hillsdale FUTURE Comp ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 27, 2008 at 5:20 am ET
This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 26, 2008 at 5:57 am ET
From Bloomberg:
Sales of Existing Homes in the U.S. Probably Increased in May
Sales of U.S. previously owned houses probably rose in May from a record low as depressed prices lured some buyers into the market, ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 24, 2008 at 7:14 pm ET
(Click to Enlarge)
S&P Case Shiller Home Price Index - NY Metro Commutable
Low Tier
April 2007 - 255.94
April 2008 - 233.29
8.85% year over year decline
Mid Tier
April 2007 - 221.43
April 2008 - 200.83
9.30% year over year decline
High Tier
April ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 24, 2008 at 6:06 am ET
From the WSJ:
Great Depression Home-Price Declines
The Standard & Poor’s/Case-Shiller home-price index, which reflects prices in 20 U.S. cities, is expected Tuesday to be reported down 16% in April from a year earlier, worse than March’s ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 23, 2008 at 5:57 am ET
From the New York Times:
Home Not-So-Sweet Home
“Owning a home lies at the heart of the American dream.” So declared President Bush in 2002, introducing his “Homeownership Challenge” — a set of policy initiatives that ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 22, 2008 at 6:53 am ET
Welcome to another edition of Lowball!
Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 20, 2008 at 5:05 pm ET
Now Open, Part II!
Weekend Comp Killers!
Summit Killer Comp Killer
MLS# 2100704 - 20 Caldwell Ave
Listed: 8/15/2008
OLP: $649,900
Last List Price: $599,000
DOM: 184
Expired
Foreclosed, REO
Sold: 6/19/2008
Sale Price: $390,000
Basking Ridge Comp Killer
51 Battalion Drive
Purchased: 9/26/2005
Purchase Price: $585,000
MLS# 2505733
Sold: 6/12/2008
Sale Price: ... ( more)
From NJ Real Estate Report - view blog entries - visit this blogJune 20, 2008 at 5:41 am ET
This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ... ( more)
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