Real Estate Bergen County New Jersey | Homes For Sale

March crude Oil, we missed our buy at $39.00 by .10. We wait till the next calling.

SPH09 stock index future.  We were long from 800 and 835. 

We sold our 2 units of SPH09 or ESH09 the mini's at 860 today. I had orginally had the orders at 1 at 860 and 1 at 880 but changed them on the last update to both at 860. I got spooked ti wait on the 880, well see if I was right or wrong.  Never the less it was a 25 point and 60 point gain! Nice!

Treasury 10 Year Notes,  We are now flat.

I am a little in flux for a bit. I have been hot for 7 months and have not broken a trade since. I must do some accessing before I get aggressive again. Volatility has been fading so let's be happy of our gains and look to see what the next big moves will be.

Real Estate Markets,  I think a volume turn around is underway. Homes sale have been picking up. Lower prices and lower mortgage rates are making houses much more affordable, If you have a job.

In Bergen County New Jersey:   I am seeing the same signs that i have seen after the 80-90's market correction.  Homes are getting bids, prices are taking drops into the arms of buyers.

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Richard

March crude Oil, we missed our buy at $39.00 by .10. We wait till the next calling.

SPH09 stock index future.  We are still long from 800 and 835, current market is in the low 840's. 

We will sell both at $860 .

Treasury 10 Year Notes, In the last update, we were short one TYH09 at 126'15, for now let's put an order to cover at 124 even. We covered our short at 124.  This was a 2 1/2 point trade or 100% profit on minimum margin requirement. Not bad! We are now flat.

Real Estate Markets,  I been talking about a turn around in home sales, with the money flow to mortgages by the Fed. Well, on the West Coast, December home sales have pick up nicely. Enough to lift sales over 6% nationally, even though the rest of the country was off. The West Coast had the biggest price declines from the highs. This has brought out buyers. I also hear the mortgages are starting to work.

Here we go, real estate is going to have a volume year. Lower prices and newly plentiful mortgage money is going to get the pent up demand for homes sizzling. I have been talking this talk, now we are walking the walk. The market is buzzing a bit.

In Bergen County New Jersey:  This is something I have seen before, lower prices and short sales in our market has caused sudden gaps down here and there. This is what a bottom is made of in real estate prices. I have seen the capitulated sellers act like this before. In the early 90's it looked the same after the Savings and Loan crisis.

Happy Selling!

Richard

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Hillsdale NJ Sales Report for 2008 shows, 73 residential units vs 68 in 2007. Total sales of $39,515,900 in 2008 vs 39,313,698. This is the 1st up year in four. These are all Brokers sales, reported to NJMLS in Bergen County New Jersey.

Average Median price has declined 13.51 from high year in 2006. Hillsdale has fared well, compared to most areas of the country. See the chart below for median price changes. A complete Hillsdale report with data statistic and multiple charts are available.

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Richard

In our last update I said,"  Lets buy March crude at $39.00 for one unit for now. I missed selling short the $50 handles on Feb crude, I guess I got lazy and didn't go for it." Well believe it we missed the buy by .10cents it hit $39.10 yesterday and turned up. That's the price of playing in the big leages. So we are sitting the bench on oil for now. If you hadn't looked oil March contract hit in the mid 40's today.

SPH09 stock index future.   We said last update,"Let's put an order to buy for one unit ESH09 at $835 and a second at $800."  So, we bought $835 and $800  today it hit in the 840's.

We will sell one at $860 and the other at $880.

In the last update, we were short one TYH09 at 126'15, for now let's put an order to cover at 124 even. It is trading in the mid 124's as I write.

We will leave our cover order at the 124 even.

Real Estate Markets,  there are more scary reports for real estate. Today I heard it will be 10 years for the money the government was putting in, to take affect.  This is a typical talk at a bottoms. I read reports that buyers are out and buying homes in the most percentage declined markets. If money keeps coming in by the Fed. in the  right places, mortgages, homes will sell, then we will build out of this decline and clear out inventory.

Deals are happening, but I think it could get real busy if money shows up. Hopefully soon!

Bergen County real estate needs jumbo loans. The Savings and loans have been filling that bill. Thank God everyone didn't nmarch to the same drum.

The Government needs to work the incentive side of the board. People love incentives. 

Richard

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We are looking at March Crude now for the mini's that would be QMH09. Feb is going out really low in the $36 handle right now. Last month expiration found the front month 15% or so below back month and then the new month continued to fill the gap down.  Lets buy March crude at $39.00 for one unit for now. I missed selling short the $50 handles on Feb crude, I guess I got lazy and didn't go for it.

SPH09 stock index future.   We missed the short sale at 945 on the ESH09 by 1.25 points. I guess  I was trying to be to close on the projection. I put the order in when it was down around 900 so. We are flat now.

Let's put an order to buy for one unit ESH09 at $835 and a second at $800.

On on last update we said the following:

"Interest rates, we were waiting an entry to go short. I had figures we are in the late stages of this decline in yield. It looks like the lows in yield have been put in place for now. We will look to short the TYH09 that is the March 10 year note at 126'15. on one unit."

We are now short one TYH09 at 126'15, for now let's put an order to cover at 124 even.

Real Estate Markets,  are in a battle for cash. The conforming loans are getting money, but are still a battle to get to closing. In some parts of the country houses and condo are selling well. My friend Renee' Burrows a top agent out in las Vagas said they are busy and loans are flowing. Lower prices are attracting buyers. In Bergen we need a lot of Jumbo loans. They have improved, but need some more improvement. Until all the money get thu the pipeline, we will be touch and go.

Deals are happening, but I think it could get real busy if money shows up.

I suspect soon the money will get better for Jumbo loans. Bergen County Real Estate will beneifit. 

Richard

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River Vale, Bergen County New Jersey sales analysis of homes sold in 2008. The data shows a decline of 28.28% in over all sales volume from high year. Average sales price declines from high year by only 9.53%,while median price declines by only 11.49 percent from high year. Data source is NJMLS all Brokers residential sales.

Full charts and data analysis can be found at River Vale real estate sales.

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Richard

Old Tappan, Bergen County New Jersey sales analysis of homes sold in 2008. The data shows a decline of 30.5% in over all sales volume from high year. Average sales price declines from high year by only 5.39%,while median price declines by only 9.55 percent from high year. The growth of larger homes over recent years have supported the drop in pricing.

Full charts and data analysis can be found at Old Tappan real estate sales.

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Richard

We sold our 2 units of February Crude at $42.50. We remain flat waiting a new signal. 

We made a small profit averaged 1 1/2 dollars, still 15% or so on margin. I got out a little too soon maybe, we could of made more. But a profit is good, we will make more on the next trade.

SPH09 stock index future. We sold our long position at $910.00. It was a 50 points or about 60% on margin, not bad. Again, I got out a bit early. However, it was a great trade.

We will enter an order to sell on unit short ESH09, march future( I will used the e-mini designation from now on.) the short entry price should be $945.

Interest rates, we were waiting an entry to go short. I had figures we are in the late stages of this decline in yield. It looks like the lows in yield have been put in place for now. We will look to short the TYH09 that is the March 10 year note at 126'15. on one unit.

Real Estate Markets, I am looking for this expansion in money flow to increase over the next 90 days. Our President Elect Obama will make sure there is plenty of money. I think the treasures, as mentioned in the previous paragraph, are going under pressure now because of the government borrowing and intend to borrow more. Never the less real estate is going to benefit from all the money. If reasonable mortgages happen we will see a lot of homes being bought.

The new administration is going to do what it can to get the banks to lend. That will get real estate going.

Richard

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Saddle River, Bergen County New Jersey Sales report for 2008 covering Broker sales as reported by the NJMLS. Over all dollar volume has decline over 40%, Unit sales over 50%. Median price declined only 2% form 2007 high year. However, average sales price has hit a new high in price. Saddle River is a fairly unique town for home values. There were a few high individual sales which raised the average. Saddle River has a great varients in property values due to many large estates.

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Richard

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Woodcliff lake, Bergen County New Jersey, has shown sale volume decline, almost 45% while average price decline from high year less then 15%. This is considerably less than most areas of the country. The median price decline 11%. See chart and report on Woodcliff lake sales.

Year     Units    Total sales        Average List   Ave Sale   Median

Woodcliff Lake is a unscale community. It is interesting to note the median sales price, average sales price and average list prices are still ahead of 2004. Many areas of the country are at 2003 pricing and some lower.

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Richard