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New Jersey Rated 2nd Worse Place to Retire

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Ridgewood NJ, according to MoneyWise , New Jersey is the second worse place to retire . MoneyWise  says New Jersey is  No. 2 on our list because the Garden State can take a serious financial toll on retirees. That’s despite its charming suburbs and small cities, its pretty beach towns and its golf links galore for your amusement.

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Home price growth in NYC, North Jersey lags rest of U.S.

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file photo by Boyd Loving

By Erin O’Neill | NJ Advance Media for NJ.com
on September 27, 2016 at 5:35 PM, updated September 27, 2016 at 6:03 PM

Home prices in the New York area ticked up slightly over the last year but increased at a slower rate than 19 other major metropolitan markets in the country, according to a new report released on Tuesday.

The S&P CoreLogic Case-Shiller 20-City Composite index notched a 5 percent year-over-year increase in July led by big gains in real estate values in the Pacific Northwest, specifically Portland and Seattle. The New York region, including northern New Jersey, saw home prices rise just 1.7 percent over that same time frame, the weakest growth among all of the cities included in that index.

The Washington, D.C., area’s rise in home prices was the second-worst at 2 percent year-over-year.

http://realestate.nj.com/realestate-news/2016/09/homes_prices_case_shiller_new.html

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New Jersey sees some improvement in wealth index

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Andy Kapyrin, the director of research, a partner and a chartered financial analyst with RegentAtlantic in Morristown says home prices are increasing, stock returns on Jersey companies are rising, as well as employment and income levels.

“What we are seeing is a broadening is what’s improving the wealth,” Kapyrin said. “The single biggest piece of good news is actually the level of the index.” (Cutter/NJ101.5)

New Jersey sees some improvement in wealth index

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Home prices in North Jersey remain steady

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$1,175,000 – 44 Fairmount Rd, Ridgewood NJ

Home prices in North Jersey remain steady

SEPTEMBER 25, 2014    LAST UPDATED: THURSDAY, SEPTEMBER 25, 2014, 1:21 AM
BY MELANIE ANZIDEI
STAFF WRITER
THE RECORD
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* The median cost was $425,000 in Bergen and $265,000 in Passaic

Home prices in North Jersey rose in August, as sales across the United States slowed and sales of luxury homes increased, according to data released by RealtyTrac on Thursday.

For New Jersey, the median price for homes sold in August was $285,000, an increase $13,000 from last month.

Bergen County sales in August remained steady with a median price of $425,000, an increase of $1,000 from the same period last year. Passaic County sales also remained unchanged from July at a median price of $265,000. It was a $3,500 drop from last year.

Nationally, residential properties sold at an annual pace of about 4.5 million in August, down a half a percentage point from July and 16 percent from last year. The decline marks the fourth consecutive month where sales decreased on a year-over-year basis.

Despite the slowing pace, the median price of the properties sold in the U.S. rose 3 percent to $195,000 from July and 15 percent from last year. It is the highest price since August 2008.

– See more at: http://www.northjersey.com/news/business/north-jersey-home-prices-remained-steady-in-august-1.1096003#sthash.JqQPsNJn.dpuf

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Home prices in region rise, but slower than national pace

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Home prices in region rise, but slower than national pace

JULY 29, 2014    LAST UPDATED: TUESDAY, JULY 29, 2014, 12:06 PM
BY KATHLEEN LYNN
STAFF WRITER
THE RECORD

Home prices in the region rose 4.8 percent in May over a year earlier, slower than the 9.3 percent national increase, the S&P/Case-Shiller home price index said Tuesday. Nationally, housing values continue to rebound after the deepest real estate bust in decades, but not as quickly as last year.

“Home prices rose at their slowest pace since February of last year,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Housing has been turning in mixed economic numbers in the last few months. Prices and sales of existing homes have shown improvement, while construction and sales of new homes continue to lag.”

Both nationally and in the New York metropolitan area, which includes North Jersey, the housing bust wiped out a decade’s worth of gains; single-family home values are now at the same level they were in summer 2004. Values in the region are about 20 percent below their peaks in mid-2006, while values nationally are about 18 percent below that peak.

In Bergen County, single-family home prices ticked down 0.3 percent in May from a year earlier, to a median $450,000. In Passaic, prices dropped 2.6 percent, to a median $285,000. These numbers are from the New Jersey Association of Realtors and are affected by the mix of properties sold in a given month. Case-Shiller does not break out price data by county but is considered a reliable measure because it measures the value of the same properties over time.

Home values in the region have not rebounded as strongly as national numbers because they didn’t fall as far during the housing bust. In addition, while the worst of the foreclosure crisis has passed in most of the nation, New Jersey is still dealing with distressed properties going through the process. Foreclosed properties tend to sell at a significant discount.

– See more at: http://www.northjersey.com/news/business/home-prices-in-region-rise-but-slower-than-national-pace-1.1058756#sthash.55TEZ6GK.dpuf