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Price cuts move properties
From NJ Real Estate Report - view blog entries - visit this blogJuly 6, 2020 at 6:28 am ET
From Bloomberg: Manhattan Home Sales Surge as Cuts Bring Prices to Buyersâ?? Level Manhattan homebuyers found deals they couldnâ??t refuse in the second quarter, driving up sales of previously owned properties by the most in more than two years. Purchases … Continue reading → ... (more)
No slow down in May
From NJ Real Estate Report - view blog entries - visit this blogJuly 5, 2020 at 8:13 am ET
From CoreLogic: CoreLogic US Home Price Report Shows Prices Up 6.6 Percent in May 2017 CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPIâ?˘) and HPI Forecastâ?˘ for … Continue reading → ... (more)
So much for the summer job
From NJ Real Estate Report - view blog entries - visit this blogJuly 3, 2020 at 6:38 am ET
From Time: Where Did America’s Summer Jobs Go? It’s not like the jobs aren’t there. The ice cream still needs scooping. A Tilt-a-Whirl doesn’t run itself. And that floppy, weirdly heavy rubber frog that somersaults toward the rotating lily pads? … Continue reading → ... (more)
March 2019? Yeah, right.
From NJ Real Estate Report - view blog entries - visit this blogJune 30, 2020 at 8:19 am ET
From the Record: American Dream Meadowlands finalizes $2.8B in construction financing; work resumes A complex $2.8 billion closing on construction financing for American Dream Meadowlands was completed on Thursday, locking in the funds developers say they need to finish the … Continue reading → ... (more)
Time for Newark
From NJ Real Estate Report - view blog entries - visit this blogJune 29, 2020 at 6:25 am ET
From the Commercial Observer: Five Reasons to Pay Attention to Newark Of all the commuter cities west of the Hudson River, Newark, N.J., gets the least respect from real estate professionals. Some of the reasons for this are understandable; Newark … Continue reading → ... (more)
Say it ain’t so
From NJ Real Estate Report - view blog entries - visit this blogJune 28, 2020 at 5:52 am ET
From the Washington Post: The McMansion, ultimate symbol of the pre-recession boom, is back If there’s anything that typifies the boom times before the Great Recession, it is the McMansion. These sprawling houses proliferated around the country in the 2000s, … Continue reading → ... (more)
May Otteau MarketNEWS
From NJ Real Estate Report - view blog entries - visit this blogJune 27, 2020 at 6:42 am ET
From Otteau Group: NJ Purchase Contracts Bounce Back in May After recording a 7% decline in April, home purchase contracts in New Jersey increased by 11% compared to the same month last year. Given the 9% increase during May of … Continue reading → ... (more)
King of the hill, top of the heap.
From NJ Real Estate Report - view blog entries - visit this blogJune 26, 2020 at 6:30 am ET
From the Star Ledger: Recent college grads are leaving N.J. in record numbers. Here’s why. The bed is on an elevated bunk. Below the bed is a desk, dressed with items from college: clothes, books and accessories. The floor is … Continue reading → ... (more)
Do so at your own peril
From NJ Real Estate Report - view blog entries - visit this blogJune 23, 2020 at 6:28 am ET
From the Record: Millennial generation shunning the suburbs for city life They want the bustle. They want the convenience. They want the diversity. In short, they want the city and not the suburbs â?? even after their children start school. … Continue reading → ... (more)
May EHS exceeds expectations
From NJ Real Estate Report - view blog entries - visit this blogJune 22, 2020 at 6:34 am ET
From CNBC: Existing home sales hit 5.62 million units in May, vs. expectations of 5.57 million U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median … Continue reading → ... (more)
Gentrification of the shore almost complete?
From NJ Real Estate Report - view blog entries - visit this blogJune 20, 2020 at 5:38 am ET
From the NYT: Memories of a Jersey Shore Town, Before a Boom On a hot August afternoon in the late 1990s, I waited at Donnellyâ??s Deli in Avalon, N.J., for our familyâ??s sandwich order. This was a rare treat. We … Continue reading → ... (more)
What Jersey Thinks
From NJ Real Estate Report - view blog entries - visit this blogJune 19, 2020 at 5:59 am ET
From the Star Ledger: Christie says N.J. economy is better. Here’s what voters think. Gov. Chris Christie has declared in recent months that New Jersey’s economy has vastly improved — but a new poll shows most voters aren’t feeling good … Continue reading → ... (more)
No New Homes (1 click)
From NJ Real Estate Report - view blog entries - visit this blogJune 18, 2020 at 5:44 am ET
From HousingWire: Economists: Housing inventory could soon turn into an emergency The latest report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau showed housing starts sank to an eight-month low. Now, economists are saying … Continue reading → ... (more)
Poof go the jobs? (1 click)
From NJ Real Estate Report - view blog entries - visit this blogJune 16, 2020 at 8:35 am ET
From the Star Ledger: New Jersey lost 13,000 jobs in May New Jersey lost employers cut 14,000 private-sector jobs in May as the unemployment rate held steady at 4.1 percent. The state Department of Labor and Workforce Development reported a … Continue reading → ... (more)
It’s a good time to sell, but don’t.
From NJ Real Estate Report - view blog entries - visit this blogJune 15, 2020 at 7:02 am ET
From HousingWire: Capital Economics: A seller’s market wonâ??t cure inventory shortages Itâ??s finally a seller’s market, but according to a new Capital Economics report, the increased selling sentiment doesnâ??t guarantee a boost in much-needed housing inventory. Fannie Maeâ??s most recent … Continue reading → ... (more)
Delinquencies improve, even in NJ
From NJ Real Estate Report - view blog entries - visit this blogJune 14, 2020 at 6:17 am ET
From National Mortgage Professional: Mortgage Delinquencies Dropped to 10-Year Low CoreLogicâ??s Loan Performance Insights Report shows that in March, nationally, 4.4 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure), … Continue reading → ... (more)
Still #1
From NJ Real Estate Report - view blog entries - visit this blogJune 13, 2020 at 7:11 am ET
From HousingWire: Foreclosure filings see slight uptick in May The number of foreclosure filings increased slightly in May, but they are still down significantly from the year before, according to ATTOM Data Solutions. Foreclosure filings in May increased to a … Continue reading → ... (more)
DINKS with style - what do you expect?
From NJ Real Estate Report - view blog entries - visit this blogJune 12, 2020 at 5:48 am ET
From MarketWatch: Why house prices in gay neighborhoods are soaring American homeowners can take pride in these prices. At the nadir of the housing market in 2012, homebuyers had to pay an average premium of almost 29%, or $209 per … Continue reading → ... (more)
Can’t live in one, can’t live without one
From NJ Real Estate Report - view blog entries - visit this blogJune 10, 2020 at 6:11 am ET
From MarketWatch: Mortgages are unaffordable in half of Americaâ??s largest housing markets Owning a home is becoming an increasingly unaffordable proposition in many of the largest metropolitan areas across the U.S. In more than half of the nationâ??s 35 largest … Continue reading → ... (more)
Escalades and Jet Skis … Baby!
From NJ Real Estate Report - view blog entries - visit this blogJune 9, 2020 at 6:43 am ET
From HousingWire: Homeowner equity soars in first quarter Homeowner equity increased significantly in the first quarter of 2017, according to the Q1 2017 home equity analysis from CoreLogic, a property information, analytics and data-enabled solutions provider. Homeowners with a mortgage, … Continue reading → ... (more)
Ah the good old days
From NJ Real Estate Report - view blog entries - visit this blogJune 8, 2020 at 7:13 am ET
From NPR - All Things Considered: Before Silicon Valley, New Jersey Reigned As Nation’s Center Of Innovation People from New Jersey are used to defending their state. But, in fact, New Jersey has a history to brag about. Thomas Edison … Continue reading → ... (more)
Slowdown ahead?
From NJ Real Estate Report - view blog entries - visit this blogJune 7, 2020 at 5:51 am ET
From CNBC: Fast-rising home prices finally hit a wall This spring may be one of the hottest sellers’ markets in history, but even off-the-chart-demand can’t put every potential buyer in a home of their own. If the house is too … Continue reading → ... (more)
Shaping up to be the strongest year yet?
From NJ Real Estate Report - view blog entries - visit this blogJune 6, 2020 at 6:15 am ET
From CBS News: House-hunting in 2017? You’ll need a fatter wallet What’s on your TV? In many middle-class homes, programs about house-hunting now compete for viewers with sporting events, cooking shows and financial advice. Americans are house-hungry. And nothing proves … Continue reading → ... (more)
Refis down, foreclosures down, purchases down
From NJ Real Estate Report - view blog entries - visit this blogJune 5, 2020 at 6:15 am ET
From DSNews: First-time Foreclosure Starts Hit All-time Low Both mortgage originations and foreclosures are in freefall, according to the recent Mortgage Monitor report released by Black Knight Financial Services on Monday. Overall originations dropped 34 percent over the first quarter … Continue reading → ... (more)
Bayonne joins the Gold Coast
From NJ Real Estate Report - view blog entries - visit this blogJune 2, 2020 at 6:04 am ET
From the NY Post: When Jason Tsay and Michael Suchocki left artsy Chelsea for sleepy Bayonne, they thought the New Jersey city was on the cusp of a real estate renaissance. Turns out they were a decade early. The couple … Continue reading → ... (more)
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