In the News

Region's home prices climb, inch over inch
Atlantic City Press
August 29, 2010
Home prices in southern New Jersey increased in the second quarter, as sales statewide surged, driven by the now-expired federal subsidies for buyers. [Full Story]

Mortgage Picture Brightens, for Now
Wall Street Journal
August 27, 2010
The number of U.S. households that missed consecutive mortgage payments or were in foreclosure fell more in the second quarter than anytime since the mortgage crisis began four years ago, a survey found. [Full Story]

Some Homebuyers Are Holding Back, but Market offers Bright Spots Too
RISMEDIA
August 27, 2010
Everywhere you look, July was not ideal for real estate—that’s one thing on which the economists and the statistics agree. Sales figures released recently for the first month in 19, not invigorated by government tax credits, offered a poor prognosis for the housing sector. [Full Story]

Mortgage Rates Hit Low of 4.36 Percent
Houselogic
August 26, 2010
Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening. [Full Story]

Home sales are down across the Garden State and the rest of the country
News 12
August 25, 2010
Existing home sales fell a record 27 percent nationwide last month. New home sales also fell 12 percent nationally. The head of the New Jersey Association of Realtors says there are no specific statistics for the state to compare with those national numbers, but New Jersey is better off than the nation as a whole as far as housing sales. [Full Story]

Bayonne renter achieves ultimate American dream: home ownership
Jersey Journal
August 24, 2010
After renting his entire adult life, a 50-year-old Bayonne union worker recently achieved the American dream of home ownership with the help of a state-sponsored program that covered his downpayment and closing costs. [Full Story]

Average Mortgage Rates Hit Low of 4.42%
HouseLogic
August 20, 2010
Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy. The average rate for 30-year fixed loans this week was 4.42 percent, down from 4.44 percent last week, mortgage buyer Freddie Mac said Thursday. That’s the lowest since Freddie Mac began tracking rates in 1971. [Full Story]

New Data Reflects an Encouraging Trend for Jersey Home Sales
NJ 101.5
August 12, 2010
Jersey's housing market is still struggling - home prices remain at lower levels, and many deals are taking longer to complete than they did 3 and 4 years ago - but new data shows home sales are doing better here than in many other parts of the country. [Full Story]

Homes prices in North Jersey up in 2Q
The Record
August 11, 2010
Home prices in the New York metropolitan area, including North Jersey, rose 4.4 percent in the second quarter of 2010, as a federal tax credit for home buyers boosted sales. [Full Story]

Home prices in Monmouth and Ocean rise 4.3 percent
Asbury Park Press
August 11, 2010
The median price for a home in the area that includes Monmouth and Ocean counties rose 4.3 percent in the second quarter, a boost helped by the now-expired federal homebuyer tax credit, the National Association of Realtors said today. [Full Story]

Hispanic home-buying on upswing
The Record
August 8, 2010
When Consuelo Ruiz and her sister bought a house in Totowa 10 years after coming to the U.S., she recalls, "I didn't know anything; I just bought on faith. I didn't know what an easement was. It's different to buy here than in Colombia. A lot of Hispanic people don't know how the banking system works or how expensive it is to maintain a house." [Full Story]

Fannie Mae Unveils Consumer Website for Borrowers
HouseLogic
August 3, 2010
Mortgage company Fannie Mae is introducing a website to help consumers who are struggling to avoid foreclosure learn about ways to get help.

The government-controlled company on Tuesday launched www.knowyouroptions.com. It is designed to provide easy-to-understand definitions of mortgage industry terms and online calculators that help consumers determine whether they can qualify for a refinanced mortgage or a loan modification. [Full Story]

Mortgage Rates Hit Low of 4.54 Percent
HouseLogic
July 29, 2010
Mortgage rates are the most affordable in decades for those who can qualify for a loan. For many, the opportunity to buy a home or refinance at this time is lost because of the tough economy and tight credit standards. But those who have secure jobs, superior credit, and strong finances could do even better than the 4.54 average rate that Freddie Mac reported Thursday, according to experts. [Full Story]

Gov.: State can't afford homebuyer program
APP.com
July 26, 2010
A Red Bank-based homebuilder says it's disappointed over Gov. Chris Christie's veto of legislation that would have granted a tax credit of up $15,000 to people who buy a home this year. [Full Story]

Gov. Christie: NJ can't afford homebuyer program
MyCentralNJ.com
July 27, 2010
A Red Bank-based homebuilder says it's disappointed over Gov. Chris Christie's veto of legislation that would have granted a tax credit of up $15,000 to people who buy a home this year. [Full Story]

Tips for staying afloat and avoiding the underwater mortgage
Suburban News
July 27, 2010
Many New Jersey families are struggling to meet their monthly mortgage payments and reports indicate that New Jersey currently ranks 11th in the nation for foreclosure filings. Prolonged unemployment and other financial pressures are forcing many Garden State residents to take a close look at the balance of their mortgage and the value in their homes. These families are finding that they may owe more than their home is currently worth. [Full Story]

Women & The Housing Market
My Fox Philly
Several reasons for the increased purchasing power of unmarried women in the United States, according to the National Association of REALTORS®. [Full Story]

Obama Administration Housing Scorecard Shows Continued Increase in Home Affordability, Neighborhood Stabilization
RISMedia
July 22, 2010
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury recently released the second edition of the Administration’s Housing Scorecard showing that, thanks in part to interest rates continuing at all-time lows, home affordability in the U.S. remains near the most attractive levels in 10 years. [Full Story]

Ninety Percent of Americans Do Not Regret Buying Their Current Home
RISMedia
July 14, 2010
A new study released by Bankrate, Inc. and conducted by Princeton Survey Research Associates International shows that, even with home prices sliding and mortgage rates the lowest in decades, the vast majority of Americans do not regret buying their current home. [Full Story]

Commercial, Maurice River townships haven't seen home prices dip during downturn
Press of Atlantic City
July 11, 2010
Home prices may have dipped during the ongoing recession, but the cost of many properties in two rural Cumberland County municipalities have remained fairly stable. [Full Story]

Mortgage Rates Drop to New Low of 4.57%
HouseLogic
July 9, 2010
Mortgage rates fell for the second straight week to the lowest point in five decades. But many people either don’t qualify for new mortgages or have already taken advantage of the low rates this year. As a result, the housing market and the broader economy may not benefit much from the lower rates. [Full Story]

Mortgage Rates Hit Low for Year
HouseLogic
June 11, 2010
Rates on 30-year fixed mortgages fell this week to the lowest level of the year and were barely shy of the all-time low. [Full Story]

Senate Considers Home Tax Credit Extension
HouseLogic
June 11, 2010
Homebuyers may get an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring. [Full Story]

Pending Home Sales Surge Continuing
HouseLogic
June 2, 2010
Pending home sales have risen for three consecutive months, reflecting the broad impact of the homebuyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors. [Full Story]

As home sales grow, mind state's 'affordability index
Trenton TIMES
May 28, 2010
New Jersey has outpaced the nation when it comes to sales of homes. According to figures recently released from the National Association of Realtors, New Jersey was one of only three states that showed positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010. Michigan and Wyoming are the other two.  [Full Story]

Strong Markets Pump Up Home Sales  
Wall Street Journal  
May 26, 2010
While the winds of the housing recovery continue to blow at a moderate pace across the country, in the New York metropolitan area, it's a nor'easter.  [Full Story]

Crazy for Cranford: New Yorkers won over by this New Jersey town's all-American charm 
NY Daily News 
May 21, 2010
For some, house hunting is like a whirlwind romance or dramatic breakup, but for Christine and Bill Dyer, it was more like a long-drawn-out courtship. During their search, the former Manhattan residents managed to tour 45 New Jersey homes from Essex to Morris Counties. [Full Story]

Where are They Coming From and Where are They Going?
NJ 101.5
May 20, 2010

The New Jersey Association of Realtors Governmental Research Foundation released a report detailing the migration patterns of people moving in and out of New Jersey. [Full Story]

New Jersey bucks national trend in real estate; can we keep it going?
Vineland Daily Journal
May 20, 2010
New Jersey has outpaced the nation when it comes to the sales of homes. According to figures recently released from the National Association of Realtors, New Jersey was one of only three states that showed positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010. [Full Story]

Op-Ed: How N.J. will keep its national lead in home sales
The Record
May 20, 2010
NEW JERSEY has outpaced the nation when it comes to the sales of homes. According to figures recently released from the National Association of Realtors, New Jersey was one of only three states that showed positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010. [Full Story]

More U.S. home sellers cut prices as tax credit ends
Reuters
May 12, 2010
More U.S. home sellers cut their listing prices in April, aiming to seal deals in the waning days of federal tax credits meant to revive housing, real estate web site Trulia.com said on Wednesday. [Full Story]

North Jersey home prices steady in first quarter ends
The Record
May 11, 2010
Home prices in the New York metropolitan area, including North Jersey, rose slightly in the first quarter of 2010, in another sign that the housing market may be stabilizing. [Full Story]

Home prices in area rise; another sign of recovery
Asbury Park Press
May 11, 2010
The median price for a home in the area that includes Monmouth and Ocean counties rose 1.5 percent in the first quarter, another sign the housing market is stabilizing, the National Association of Realtors said today. [Full Story]