Signs of a N.J. Housing Recovery. . . Below $400K

January 19, 2012

In a sign of recovery in the housing market, cost-conscious buyers have returned to the market for lower-priced properties across the New York area in recent months, leading analysts to speculate that the worst of the housing slump may be over.  In New Jersey sales have picked up due to buyers of properties priced less than […]

Read the full article →

Home Seizures May Jump 25% in 2012 as Foreclosures Resume

January 17, 2012

Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac Inc. said.  About 1.89 million properties received notices of default, auction or repossession last year, down 34 percent from 2010 and the lowest number since 2007, the Irvine, […]

Read the full article →

Apartment Vacancy Rate Tumbles

January 5, 2012

The nation’s apartment-vacancy rate in the fourth quarter fell to its lowest level since late 2001 as Americans continued to favor renting homes instead of buying them.  Demand has swollen from people being foreclosed out of their houses as well as those unable or unwilling to buy.  In the fourth quarter, the vacancy rate fell […]

Read the full article →

Commercial Property Financing Costs Soar

December 28, 2011

At the height of the boom years, many owners of office buildings, hotels, shopping malls and other commercial real estate financed their properties using five-year mortgages, most of which are set to mature next year.  But lenders are warning property owners that refinancing won’t be automatic, and the low mortgage rates in the headlines probably […]

Read the full article →

National Association of Realtors Revises Data Lower

December 22, 2011

New data indicate that the housing slump was deeper than initially estimated.  The National Association of Realtors said Wednesday that it over-estimated home sales by 14.3% between 2007 and 2010, meaning that 2.9 million fewer homes sold during those years than thought earlier. Wall Street Journal  December 22, 2011

Read the full article →

Vacancy Rate at U.S. Malls Hits Record 9.4%

December 15, 2011

The average third-quarter vacancy rate at U.S. malls hit a record of 9.4%, according to Reis Inc., a real-estate research company.  It was the highest on record since Reis began tracking the data in 2000.  Green Street Advisors predicts that about 10% of the roughly 1,100 malls in the U.S. will either be dead within […]

Read the full article →

Wary First-Time Home Buyers Hold Back Market

December 11, 2011

This should be a great time to buy a first home.  Prices have sunk and mortgage rates are near all-time lows, yet the most likely first-time homeowners, especially young professionals and couples starting families, either won’t buy, can’t buy, or they already did, during the housing boom.  The obstacles range from higher down payments to heavy debt from […]

Read the full article →

Home Insurance Trap?

December 6, 2011

Homeowner policies have important differences that can affect whether claims are paid, according to a study scheduled to be published early next year in the University of Chicago Law Review.  The problem is that those differences are poorly understood.  Some policies provide $1,000 per item damaged by a sudden electrical current, and others pay an […]

Read the full article →

Debt Collectors Go After Families of the Deceased

December 3, 2011

When you die, your debts usually die with you.  Surviving family members rarely have a legal obligation to pay unless they co-signed a loan, such as a mortgage or credit card.  But debt collectors have found a way to help lenders get their money anyway.  Working on behalf of financial giants from Bank of America […]

Read the full article →

Home Prices Decline in September

November 30, 2011

According to the Standard & Poor’s/Case-Shiller index of 20 major metropolitan areas, home prices declined o.6% in September from the prior month, breaking a five month run of increases during the spring and summer.  For the third quarter, prices were down 3.9% nationwide compared with a year earlier.  Price drops could be even larger this winter […]

Read the full article →

Home Sales Climb But Prices Decline

November 22, 2011

The National Association of Realtors reported that sales of previously owned homes improved in October but that prices continued to fall, underscoring the broader market weaknesses. Sales declined 5.1% in the Northeast. A separate report from mortgage-data firm CoreLogic to be released Tuesday projected that it could take until 2020 for markets to fully digest […]

Read the full article →

NJ Home Prices Under Pressure

November 21, 2011

Those looking for signs of a recovery in New Jersey home values may need to take the long view, as more than 100,000 homeowners are dealing with foreclosures that are stalled in court and another 48,000 are way behind on mortgage payments. The delinquency survey, by the Mortgage Bankers Association, found that 8.1% of homes […]

Read the full article →

← Previous Entries

Next Entries →