December 2006 - Posts

New Home Sales On The Rise
29 December 06 04:53 PM | Emil Ratti | 0 Comments   

A survey of home builders by the National Association of Home Builders (NAHB), indicated that sales of new homes were up, and builders' sales expectations, based on buyer traffic through model homes, rose significantly. In related news, the Mortgage Read More...

Filed under: Housing Outlook

NJ Home Sales Trending Higher
26 December 06 04:24 PM | Emil Ratti | 0 Comments   

According to the most recent OTTEAU Report, “The New Jersey housing market improved in October as home buyers took advantage of recent declines in home prices and lower mortgage rates. In October, contract-sales jumped 10% after being down by 20% Read More...

Filed under: Housing Outlook

Secondary MarketingTakeaways:
26 December 06 11:02 AM | Emil Ratti | 0 Comments   

Rates continue the slow grind downward, as Fixed Income prices improved just under another 25 bps this week. The curious focus is the yield curve: the 2 to 10 year Treasury curve remains inverted at negative 15bps. To put this more in perspective, any Read More...

Filed under: Market Monitor

Improving Your Credit Score
26 December 06 10:54 AM | Emil Ratti | 0 Comments   

In this current market environment wherefore and more borrowers are being forced to go with below credit or Sub-Prime loans due to low credit scores, the question is being asked: How do I maintain an above average credit score? Answer: You are your own Read More...

Filed under: Market Monitor

More Good News
23 December 06 06:04 PM | Emil Ratti | 0 Comments   

Recently, Alan Greenspan , former Federal Reserve Chairman, said of the real estate market: “The worst is behind us." Speaking at a conference organized by a national financial services firm, Greenspan predicted that the inventories of unsold Read More...

Filed under: Housing Outlook

IRS Offers Telephone Tax Rebates
23 December 06 08:59 AM | Emil Ratti | 0 Comments   

Businesses, tax-exempt organizations and individuals are eligible for refunds of past Telephone Excise Taxes on their 2006 tax returns, according to the federal Internal Revenue Service. All are eligible for refunds of the full amount of telephone taxes Read More...

Filed under: Misc Tax Issuse

Property Tax Reform Bills Pass Assembly
15 December 06 03:24 PM | Emil Ratti | 0 Comments   

Assembly members passed numerous property tax reform bills in marathon voting sessions held December 11 and December 14, but the measures are still awaiting action in the Senate, which will probably address them in January. Some of the property tax measures Read More...

Filed under: Property Tax

Legislators Release Property Tax Reform Recommendations
10 December 06 10:01 PM | Emil Ratti | 0 Comments   

The four joint legislative committees that have been studying ways to reduce New Jersey’s highest-in-the-nation property taxes released 98 specific recommendations for reform on November 15. The one receiving the most attention would reduce the Read More...

Filed under: Property Tax

Legislative Leaders Oppose Tax Shifting as Property Tax Reform
10 December 06 09:57 PM | Emil Ratti | 0 Comments   

Senate President Richard Codey and Assembly Speaker Joseph Roberts have said the property tax reform plan they are working on will not include shifting the tax burden to other local taxes, such as a local sales tax or income tax. In a November 6 Star Read More...

Filed under: Property Tax

Housing Starts Biggest Jump Since January of 2006
10 December 06 09:51 PM | Emil Ratti | 0 Comments   

The latest reading of the U.S. Department of Housing and Urban Development (HUD) report showed that housing starts posted their biggest jump since January of this year. The market is proving more resilient than many experts had assumed, and some see the Read More...

Filed under: Housing Outlook