Comments on: The Weekly Wednesday Wrap Up – Hoboken Condo Sales and Activity for the Week of June 17th http://hobokenrealestatenews.com/2009/06/17/the-weekly-wednesday-wrap-up-hoboken-condo-sales-and-activity-for-the-week-of-june-17th/ What buyers and sellers need to know about Hoboken condos and real estate. Sat, 12 May 2012 19:15:20 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: bz http://hobokenrealestatenews.com/2009/06/17/the-weekly-wednesday-wrap-up-hoboken-condo-sales-and-activity-for-the-week-of-june-17th/comment-page-3/#comment-2671 bz Thu, 25 Jun 2009 16:41:11 +0000 http://hobokenrealestatenews.com/?p=1475#comment-2671 potentialbuyer - I agree with most you have said. But this proposal isn't endless spending. It's temperary, as far as I understand it. Increasing jobs is altimately the right solution but it takes years to get millions of people back on track. Tax credit, historically, is a patch work that at most acts as a short-term solution. I think it's working. a couple of my friends have decided to take advantage of this year's $8000 and buy condos in Hoboken. I actually recommended this blog and Lori for them to start with. They were completely on the sideline until this $8000 is on the table. Again, I don't think the proposal is great, but it works in a quick fix. Reducing the inventory might be one of the most important triggers for the market to start getting back to the equilibrium. It's just what I think. I don't have a better idea and I haven't seen a better idea yet. potentialbuyer – I agree with most you have said. But this proposal isn’t endless spending. It’s temperary, as far as I understand it. Increasing jobs is altimately the right solution but it takes years to get millions of people back on track. Tax credit, historically, is a patch work that at most acts as a short-term solution. I think it’s working. a couple of my friends have decided to take advantage of this year’s $8000 and buy condos in Hoboken. I actually recommended this blog and Lori for them to start with. They were completely on the sideline until this $8000 is on the table. Again, I don’t think the proposal is great, but it works in a quick fix. Reducing the inventory might be one of the most important triggers for the market to start getting back to the equilibrium. It’s just what I think. I don’t have a better idea and I haven’t seen a better idea yet.

]]> By: potentialbuyer http://hobokenrealestatenews.com/2009/06/17/the-weekly-wednesday-wrap-up-hoboken-condo-sales-and-activity-for-the-week-of-june-17th/comment-page-3/#comment-2644 potentialbuyer Wed, 24 Jun 2009 18:48:42 +0000 http://hobokenrealestatenews.com/?p=1475#comment-2644 bz, I'm in the camp that don't think it's a good idea but not in either of the groups that you mentioned. Like Tiger said, we need to spend money on the things that matter and not increase the load any more with things that don't work. All the proposal does is subsidize the seller while doing absolutely nothing in regards to bringing the market into an equilibrium. Also, if they were to do it at all, it should be limited (whether to first time buyer or certain income) as it could really get out of hand. Our government's budget is already in the gutters, we don't need more needless spending like that. To keep the boat from sinking, we need to create real jobs by using projects and by innovating. bz,

I’m in the camp that don’t think it’s a good idea but not in either of the groups that you mentioned.

Like Tiger said, we need to spend money on the things that matter and not increase the load any more with things that don’t work. All the proposal does is subsidize the seller while doing absolutely nothing in regards to bringing the market into an equilibrium.

Also, if they were to do it at all, it should be limited (whether to first time buyer or certain income) as it could really get out of hand. Our government’s budget is already in the gutters, we don’t need more needless spending like that.

To keep the boat from sinking, we need to create real jobs by using projects and by innovating.

]]> By: JC http://hobokenrealestatenews.com/2009/06/17/the-weekly-wednesday-wrap-up-hoboken-condo-sales-and-activity-for-the-week-of-june-17th/comment-page-3/#comment-2628 JC Tue, 23 Jun 2009 18:02:52 +0000 http://hobokenrealestatenews.com/?p=1475#comment-2628 Regarding that DB article about 40% declines....samuel miller (possible #1 appraiser in NYC) came out on his blog and questioned the methodology and reliability for this 40% decline. "The market area covered was NYC, Long Island, Fairfield and Westchester, Northern NJ and 1 PA county. The 3 big national reports are the data source but FHFA and CSI exclude co-ops and condos, which are a significant portion of NYC housing units and NAR is light on co-op data." He did say we still have a way to go on the correction. Regarding that DB article about 40% declines….samuel miller (possible #1 appraiser in NYC) came out on his blog and questioned the methodology and reliability for this 40% decline.

“The market area covered was NYC, Long Island, Fairfield and Westchester, Northern NJ and 1 PA county. The 3 big national reports are the data source but FHFA and CSI exclude co-ops and condos, which are a significant portion of NYC housing units and NAR is light on co-op data.”

He did say we still have a way to go on the correction.

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