The folloiwng was summarized from a March 4 article in Risemedia:
Nationally, January existing homes sales are down 7.2% from December 2009 but are still 11.5% above January 2009 levels.
Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in ...
N.J. real estate prices headed up
Monday, January 11, 2010
BY KATHLEEN LYNN
The Record
STAFF WRITER
New Jersey home prices have bottomed out and will rise about 2 percent this year, real estate appraiser Jeffrey Otteau predicted Monday.
“While things will get better from here, they’re going to get better at a slow, steady and sustained pace,” Otteau said. Otteau is based in ...
NEW JERSEY'S HOUSING MKT IN 2010
After putting the nation's economy through the spin cycle, the real estate market this year could take a break.Home prices look as if they’ve reached their lowest points, and people are starting to take deep breaths and buy again. It’s beneficial, too, that the federal government has helped keep mortgage rates down, in the 5 percent range, and Congress ...
The attached link is for a NY Times article (Oct 25, '09) that highlights the findings of Jeffrey Otteau of the Otteau Valuation Group. His data suggests that "a ground is beginning to form in terms of prices".
Please click on the link to read more. Puzzling Over Home Prices
Pending home sales rose for a record eight stright months which is the longest streak since this index was first measured in 2001! This is a forward looking indicator based on the number of contracts signed in September 2009. It rose 6.1% over August '09 and 21.2% over September 2008!!!
For more information please click on the following link:
Pending Home Sales Rise
"The U.S. housing market has been in a slump for the past four years. When will it ever end?...In recent years, real estate has proven as jittery and unreliable as any other market…Here is a guide (published in the Nov 17 2009 edition of the Wall St Journal) to navigating a fractured and volatile market" see below link
10 Questions on Volatile Housing Mkt
The plan being considered would allow $6,500 for existing home owners and raise the qualifying income limits. Please click on the attached link for more information.
EXPANSION OF 1ST TIME HOME BUYERS TAX CREDIT
Check out this new listing. It is in very good condition and is priced to sell. the owner wants a quick closing!
The following is an excerpt from the Aug 19 2009 acticle:
"Working parents in Edison, N.J., can take advantage of the township's expansive after-school programs, which expose youngsters to a host of activities, including magic, piano , cooking, and arts and crafts. More than 30 area parks have facilities for tennis, basketball, soccer, and other sports. At the same time, this community of about 100,000 ...
Sales of new one-family houses in June 2009 were at a seasonally adjusted annual rate of 384,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 11.0 percent (±13.2%)* above the revised May rate of 346,000, but is 21.3 percent (±11.4%) below the June 2008 estimate of 488,000.
The median sales price ...
