Boom, Bust, Flip - NYTimes Magazine

OK, profiteers at the gates of real estate?  Maybe.  It depends who you ask.  The NY Times Sunday magazine contains a detailed article about folks whose homes have been lost which were then purchased by the bank and sold to a third-party investor for eventual resale.  So what kind of properties are we talking about?

There’s a popular perception that so-called McMansions and Garage-Mahals brought down the housing market. Yet more than half of all homes that went into foreclosure between 2007 and 2012 were actually in the lowest price tier when they were purchased, and most were located in middle- and lower-income areas.

Read the full story and see what's happening in the distressed property market. Boom, Bust, Flip

For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us. We can help. Located in Fairfield, NJ, we are the title insurance agent that does it all for you.

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Stephen M. Flatow, Esq.

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New Jersey's open space disappearing

The Star-Ledger reports

For the first time, New Jersey’s landscape is covered more by housing and shopping malls rather than forests, the real consequence of the "two most sprawling decades" ever, a report being released today concludes.

The study, a collaboration between Rowan and Rutgers universities, analyzed land use data between 1986 and 2007 and estimates the state could run out of open space around 2050 if the pace of development that took place in the sprawl years continued.

The question is will the slow market further slow the amount of land under development?

And how about the upsurge in urban development, especially the kind seen in Hudson County?

Experts point to several factors behind the trend: younger generations now have fewer children and prefer urbanized settings; the recession has forced both builders and buyers to settle for smaller (and cheaper) houses; land is just too expensive now for more McMansions.

Read the full story.

 

For your next title order 

or if you have questions about what you see here, 

contact Stephen M. Flatow 

Vested Title Inc. 

648 Newark Avenue, P.O. Box 6453, 

Jersey City, NJ 07306 

Tel 201-656-9220 - Fax 201-656-4506 

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