Author	Message
Star Ledger	Posted: Fri, Jul 25 2008, 10:34 am EDT    Post subject: N.J. foreclosure rates jumped 140 percent N.J. foreclosure rates jumped 140 percent in second quarter compared to last year by Jeff May/The Star-Ledger Friday July 25, 2008, 8:10 AM Foreclosure filings in New Jersey jumped 140 percent in the second quarter, compared with a year ago, according to figures compiled by RealtyTrac. The Garden State ranked 12th in the rate of filings, a category that includes default notices, scheduled auction sales or bank repossessions, the Irvine, Calif.-based data firm said. It had been 16th in the previous rankings. One in every 201 households in the state received a foreclosure filing in the quarter. New Jersey's foreclosure rate is lower than the national average of one filing per 171 households, but that number is skewed by rates in the top foreclosure states of Nevada, California and Arizona. The year-over-year increase in New Jersey topped the national figure of 121 percent, suggesting the problem is accelerating here. "Although much of the fallout from foreclosures is being driven by rampant activity in a few states, such as Nevada, California, Florida, Ohio, Arizona and Michigan, most areas of the country are seeing at least some increase in foreclosure activity," James Saccacio, chief executive of RealtyTrac, said in a statement. Here's a Bloomberg News story on the national picture. New Jersey had a total of 17,289 foreclosure filings in the second quarter, a three-month period that ended June 30. That number represents an increase of almost 32 percent over the first quarter. Newark ranked No. 38 in the nation for metropolitan areas with the highest foreclosure rates.
Guest	Posted: Tue, Jul 8 2008, 10:07 am EDT    Post subject: Re: Houses in Cranbury When are people going to look at what we are doing with our land? what we are doing to OUR earth? Its all about politics - but c'mon - this is crazy - our earth is being destroyed to build MORE houses WE DO NOT NEED... yes - all for the developers.... What happens when we run out of land? What happens when we destroy the earth? GLOBAL WARMING - what has happend here is people are GREEDY - more money for themselves - who cares who gets hurt...I will tell you who gets hurt? OUR CHILDREN OUR CHILDRENS CHILDREN... Not even houses - look at all the buildings standing there for YEARS with no one in them.... only 2 miles up the road --- Ginardies - and shoprite garden center are 2 BIG places..... WAKE UP PEOPLE..... but sad thing is no one ever will as long as these people can have their nice cars, fancy houses, vacations... WHO CARES right? WHO Cares what we are doing to our world?
publius	Posted: Tue, Jul 8 2008, 9:45 am EDT    Post subject: Re: Houses in Cranbury Why can't these dumb-ass developers fix up cities like Trento, Paterson, Newark etc. , and leave the burbs alone? Not enough profit in it for them? I guess it's easier to build McMansions on farmland than to refurbish 100 year old bldg. in the inner city? Developers are in cohoots with state government to legislate small town NJ out of existance. All they care about is the buck in THEIR pockets. No regard for decades, or even a couple of centuries, of natural organic growth and planning. It doesn't matter which party is in power. They are ALL out to grab whatever they can get, and don't care how it affects anyone else!!!!!!!!!!!!!!! Only insomuch as whatever can get them re-elected so they can get MORE for themselves.
Guest	Posted: Mon, Jul 7 2008, 4:10 pm EDT    Post subject: Re: Houses in Cranbury Homes for sale increase seasonally in the Spring and Summer every year (more people move in the Summet than any other time and it is typically in communities where the school is a major draw that people leave/come between school years) so I wouldn't presume that there are more coming up for sale now than typically do every year. I haven't done a count but I follow the market closely and it feels pretty comparable, at best. Homes are however selling more slowly (especially with some people putting them up for unrealistic prices given the overall market) so the net result may be more on the market at any given time because of the backlog of inventory. But this is true locally, regionally and nationally and I see no evidence that Cranbury is being hit any harder than other areas in Central NJ, at least so far. In fact, statistically based on final sale prices we are definitely doing better than some other areas like West Windsor which have seen sharp declines. I know people who live in Los Angeles area where in some places prices have decline 25-35% within the last year. And we're talking nice upper-middle class areas with good schools, comparable to here.
Guest	Posted: Mon, Jul 7 2008, 3:33 pm EDT    Post subject: Re: Houses in Cranbury Uncertainty is bad for Wall Street, and is also bad for Cranbury housing market. I am projecting a decline in Cranbury school enrollment for the new school year.
Guest	Posted: Mon, Jul 7 2008, 2:54 pm EDT    Post subject: Re: Houses in Cranbury I agree to an extent, but still believe the town has value at the right price and location. Let's remember as of today we're still a great town and COAH even if it stays the same will not show an immediate impact. We still have many years of fighting and even then there is an opportunity to opt out. Most people who buy today will see their kids through HS before the effects of COAH are felt. Simply because of all the pending litigation that will follow. Then time to build and plan. (note- this is a short term scenario not a defense of COAH, because in the long term Cranbury is being challenged). If you base a decision on financials (99% of people do), then I think COAH is a concern for the long term. However, I also think that the COAH rules will change. On the society front I think there are very valid concerns as well. There will be (if COAH proceeds) changes in schools, population, etc... Honestly, I am just as concerned about the attitudes of people who come into the COAH housing, just like any new development. In this case though the COAH houses making a huge impact. Will they come from the cities and want the city services? Will they have the city attitude that is more door shutting then friendly neighbor? Will they want to do things their way or understand they joined a town and rather then look for change try to understand the society they joined? I don't want to see Cranbury become a WW or Plainsboro town where attitude of elitisim and one up manship are the norm and people don't talk to their neighbors. I do think that the COAH rules will be changed due to the outcry from all the different municipalities and the legislature will realize they won't be reelected if the rules stand as they do today. It will not be easy and we need to show up and voice concern over these matters. However, I think the COAH battle will go for a while and a new Republican Governor will step into office in 2009. With that change, I think we'll see a more moderate office and the COAH rules will be modified accordingly.
Guest	Posted: Mon, Jul 7 2008, 2:31 pm EDT    Post subject: Houses in Cranbury Right now there are 34 houses for sale in Cranbury - Thats something to think about - and now with the COAH maybe moving in? I dont think it is a good investment to buy a house in this town until we figure out if COAH is moving in or not. It is such ashame that things can never stay the same.... I am actually suprised that cranbury has stayed a nice small town as long as it has with everything changing..