“In this business, a deal is not done till it’s done.”
From the Record: More deals falling through Deal — or no deal? Does a signed contract mean the property will actually sell? In a volatile housing market, the answer these days is “not necessarily.”...
View ArticleCovered with gloom
From the Associated Press: Poll finds New Jerseyans feeling gloomy on economy Economic woes have New Jerseyans gloomy, a new poll has found. Forty-nine percent of respondents in the poll issued Monday...
View ArticleMonmouth/Ocean: Home of the Housing ATM
From the Asbury Park Press: Borrowers used houses to get cash Proponents had once touted subprime loans as a way for some consumers to afford the American dream of homeownership. Yet new government...
View Article“The market value is what the market value is”
From the Record: How low will homes go? The number of home sales in North Jersey plummeted some 30 percent in 2007, raising the odds of a significant decline in home values beginning this year. Prices...
View Article“You just can’t afford to stay in this house”
From the Record: In North Jersey foreclosures are up, home sales down In a painful sign of the worsening real estate downturn, foreclosure actions in North Jersey nearly tripled in the first five...
View Article$8 $10 Billion in the Hole
From the Courier Post: N.J. faces $10B deficit next year, report says New Jersey faces a projected budget deficit of $8 billion in its next fiscal year, as well as a shortfall of more than $2 billion...
View ArticleLabor Day Weekend Open Discussion
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 ask...
View ArticleOtteau: Slow recovery for housing, no recovery for high-end
From the Record: N.J. real estate prices headed up New Jersey home prices have bottomed out and will rise about 2 percent this year, real estate appraiser Jeffrey Otteau predicted Monday. “While things...
View ArticleFed: Home prices “drifting down in northern New Jersey”
From the Federal Reserve: Beige Book – Second District–New York Construction and Real Estate Housing markets have been mixed but generally stable since the last report. Real estate contacts in both...
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New Jersey Contract Sales Continue Decline
From the Otteau Valuation Group: MarketNEWS – November 2010 The New Jersey housing market continued to experience weak purchase demand in October due to the lingering effects of the economic recession....
View ArticleCareful with that claim, you might just get screwed twice
From the Record: Storms may push homeowners’ insurance rates higher Homeowners’ insurance rates may go up as insurers seek to offset losses expected from the unusual pre-Halloween snowstorm that socked...
View ArticleCoreLogic – Northern NJ/NY Metro home prices up 2.6% YOY in October
From CoreLogic (no link): Home Prices Down 3.9 Percent Year-Over-Year Home prices in the U.S. decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. According to the...
View ArticleAgents and Sellers “adjusted to the new pricing realities”?
From the Record: Bergen, Passaic home prices continue to slide North Jersey home values dropped 3 percent in the first half of this year, bringing Bergen County’s median single-family home price below...
View ArticlePaying the Sandy Tax
From Bloomberg: Christie Says Damage Costs From Sandy Outside Tax Cap New Jersey Governor Chris Christie said property owners in areas devastated by Superstorm Sandy may face higher tax bills, as local...
View ArticleMarch Beige Book
From the Federal Reserve: Beige Book – March 6, 2013 – Second District–New York Economic activity in the Second District has continued to expand at a moderate pace since the last report. Business...
View ArticleSo far away
From the Star Ledger: Home prices in N.J. slower to climb than previously thought, report says While New Jersey home prices are climbing steadily, they won’t reach their previous peak for another seven...
View ArticleHide the Zombies?
From the South Jersey Times: Don’t give N.J. zombie homes the upper hand Owing to its ongoing high rate of residential foreclosures, New Jersey has become known the Land of the Zombie Houses. If a...
View ArticleThat time when Vernon was cool, until it wasn’t.
From the Record: Remembering Hugh Hefner’s Great Gorge Playboy Club There was much excitement for miles around the North Jersey area when Hugh Hefner built and officially opened The Great Gorge Playboy...
View ArticleWill it work?
From Bloomberg: New Jersey Senate Passes Charitable Tax Workaround New Jersey residents might be able to avoid federal deduction limits on property taxes by converting them to a charitable contribution...
View ArticleFiscal … Death … Spiral
From the Star Ledger: N.J. is in a ‘fiscal death spiral’ and Murphy call for new tax on millionaires isn’t the answer, top Democrat says New Jersey’s Democratic state Senate president, who is...
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