“The recent activity of sales in markets which are affordable to first-time buyers, are being driven mainly by foreclosures and short sales.”
Entries Tagged as ‘New Jersey’
June 2, 2009
Geographic-Market Study: Route 22/Green Brook, NJ
Of the 107 total properties along Route 22 in Green Brook, there are 24 vacant units. Of those 24 vacancies, 19 are advertised for rent, 2 listed for sale, and 3 are abandoned.
June 1, 2009
More Abysmal News for NJ’s Economy
RE Report/Analysis
Update I
In long line of New Jersey businesses that have gone liquid or bankrupt, there are now 30 more you can add to the dole.
Here is the list of the 30 franchises that was delivered to the unfortunate New Jersey Chrysler/Jeep Dealers.
Certainly this is not good news for each town and city these dealerships are located [...]
May 13, 2009
National Foreclosures Hit Record High- Yet Again.
From Bloomberg:
May 13 — Foreclosure filings in the U.S. rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers.
A total of 342,038 properties received a default or auction notice or were seized last month, RealtyTrac Inc. of Irvine, California, said today in a [...]
May 2, 2009
Grand-Am Racing Series- Back in Jersey
Milleville NJ,
New Jersey Motorsports Park, or Thunderbolt Raceway as it is better known by, will play host again this weekend for the second year to the Grand American Road Racing Series.
Daytona Prototypes (pictured above) and GT cars are showcased in the Grand-Am Rolex Series. The series will feature both classes on Thunderbolt’s course simultaneously. The Rolex [...]
April 19, 2009
Leading the Lambs to the Slaughter
RE Report/Analysis
April 21st in New Jersey marks the school budget and school board elections. So why April 21st and not the first Tuesday in November then? When all other elections take place?
By design. Typically, only 12% to 13% of voters actually vote on April 21st. By discouraging the majority of voters away from the poles the more [...]
April 16, 2009
Garden State- Withering
RE Report
According to RealtyTrac residential foreclosures in New Jersey jumped 1.96% during the first quarter of 2009, y-o-y and rose a colossal 40% from February 2009.
Q1 official auctions in NJ included 2,293 residential properties as Essex County lead the way with 296. Passaic followed with 217, as well as Ocean- 217 and Union with 215. These were the top four counties [...]
April 16, 2009
The UN-avoidable, New Jersey Un-employment Report
RE Report
Though it was a diminutive increase, the most tax burdened, liberal state in the union saw its unemployment rate go up yet again, from 8.2% to 8.3%. Reaction from the left-wing corzine administration was of course low-key.
In fact a spokesmen from the socialist administration went as far as saying that that number only represents [...]
April 9, 2009
Office Space (If you could just go ahead and sign that lease…that would be g r e a t- mmmkay?
RE Report
Central New Jersey class A office space is showing signs of life. With a lack of spec building in the overall market, class A vacancy rates have gone from about an appalling 20% to around 5.5%.
Recent data shows most class A units are currently leasing between $24 psf to $28 psf. Although on the flip-side, class B vacancy [...]
