Updated February 16, 2017
Posted February 14, 2017
Housing prices in New Jersey have suffered from the recession, and have yet to hit pre-recession levels. Most housing prices fell between the 2005-2009 Census and the 2011-2015 Census. To balance out those effects, NJ Advance Media looked at Zillow data comparing the 2012-2013 average home sale price with the 2014-2015 sale price.
Housing advocates blame a lack of leadership at state level for Garden State’s highest foreclosure rate in nation
Housing markets have improved and foreclosure numbers dropped across the country since the Great Recession, but a decade on, New Jersey remains mired in a deep foreclosure swamp.
Statewide figures are significantly better than in 2009, the depth of the economic downturn. Yet some analyses cite Atlantic City as the worst housing market in the country, with Trenton not far behind. Overall, New Jersey continues to have the highest foreclosure rate in the country, according to real-estate data firms.
While many factors contribute to the problem, housing advocates point to a lack of leadership from state government as significant. Gov. Chris Christie, who used $75 million from national foreclosure-prevention aid to plug a budget gap in 2012, seldom mentions the issue.
“In the other states where we work, we have governors who have welcomed us and networked us to their housing agencies and counselors,” said a relative newcomer to the state scene, Jessica Brooks, a vice president at Boston Community Capital.
Nonprofit housing organizations like BCC work with lenders and borrowers to prevent foreclosures. Some for-profit groups also have sprung up, like Community Champions of Melbourne, Florida to fight the effects of foreclosure blight. But as the major federal foreclosure relief ends, a lack of state leadership in New Jersey means municipalities must find such partners themselves. Meanwhile, borrowers must remain alert to police their own mortgages, according to a top foreclosure defense lawyer.
Given the population decrease in NJ due to people seeking greener pastures (or just a job or lower property taxes) elsewhere, perhaps the answer is not to build additional housing units in Ridgewood to help us meet our COACH obligations, but to find some way to force the price or market valuation of the entire existing housing stock in Ridgewood down far enough in value as that a sufficient number of previously built single family homes in Ridgewood end up falling into the affordable housing category. Why try to build up (because there is no actual room to build out) when you can simply drag down? Perhaps there would be some difficulty in forcing the unfortunate existing owners to sell but, hey, this is New Jersey…we’ll just intimidate them, Soprano’s style, until they see the wisdom of the policy. /s
MLS # 1700031
27 High St, Unit Floor 2, Ridgewood, NJ 07450
1 Bedroom, 1 Full Bath, 2Family Kevin Errico, Sales Associate RE/MAX Properties-Saddle River
Open House: 1:00 P.M. – 4:00 P.M. Sun. 1/22
2
MLS # 1700029
27 High St, Unit Floor 1, Ridgewood, NJ 07450
3 Bedroom, 1 Full Bath, 2Family Kevin Errico, Sales Associate RE/MAX Properties-Saddle River
Excellent but what is the next set of actions to ensure some real actions
Are taken before events and the Developers decend on Ridgewood ,Ho HoKus Glen Rock and other Bergen county communities.?
The developers should be targeted for negative aspects of Build and Run with the Cash tactics..what banks are financing these ruinous Multi family Neighborhood and School taxes blockbusters.Banks they to project community good citizens profiles but they are awash with cheap money for the Fed and lack of interest payments to the savers for a Decade now
“I implore our Senate President and Assembly Speaker to do everything in their power to move forward with bi-partisan legislation addressing this issue. The court rules on what is constitutional, not aggressively ruling what it thinks is best for the state. We cannot let the court legislate what is best for individual communities.”
By Rajeev Dhir | NJ Advance Media for NJ.com
on January 13, 2017 at 7:04 AM, updated January 13, 2017 at 5:20 PM
New Jersey led the country in foreclosures for the second year in a row at more than double the national rate.
Atlantic City topped the national list of metro areas with the highest foreclosure rate in 2016 at 3.39 percent, followed by Trenton at 2.16 percent. RealtyTrac tracks metropolitan statistical areas with a population of at least 200,000 or more.
The state posted an average foreclosure rate of 1.86 percent of housing units in 2016, according to data released by RealtyTrac. The national rate of 0.70 percent dropped to a 10-year low.
The state’s foreclosure rate for December was 0.2 percent, compared to the national rate of 0.06. The state saw an increase of 13 percent in overall foreclosure activity from last December, while the national average dropped almost 17 percent from a year ago.
To whomever posted -Anonymous January 12, 2017 at 8:05 pm- that put my AirBNB listing up with my address-which incidentally is kept totally confidential until AFTER the guest passes a 5-point security check. But Thank You for noticing that I am a hard-working professional who is willing to share her beautiful home with others. As an immigrant to this country, I founded a national association to help women. I help them achieve their national credential in order to find jobs, and get better ones, then I help them continue their education with one-on-one mentoring (some of the cars that are “in and out of there all the time”.)…so I guess I just like helping people. My guests park on my property and I have had no complaints from neighbors. AirBnb has helped me pay for taxes, repairs on my home, upgrade plumbing etc., so that the value is maintained. And who are the guests that stay with me? I have three different grandparents that come to visit their grandchildren, nurses that work long shifts at Valley Hospital, a son who lives in California that comes regularly to visit his mother in a nursing home, a self-employed marketing consultant who comes here for business, and then I have had two different couples who have stayed here while they bought a home in the area-they wanted to see what it was like living in Ridgewood–without this experience, they may not have chosen to live here! The sharing economy is an international model that can be found in small cities all over the world that only enhances the diversity and value of the community.
Kathleen Lynn , Staff Writer, @KathleenLynn312:06 a.m. EST December 15, 2016
One in every 598 Garden State households with a mortgage had some type of foreclosure filing in November
New Jersey leads the nation in foreclosure activity, as the state continues to unwind the mortgages that went bad in the worst housing crash in decades.
One in every 598 Garden State households with a mortgage had some type of foreclosure filing in November, according to Attom Data Solutions, a real estate research company that is the parent company of RealtyTrac, which tracks foreclosures. That’s down about 7 percent from a year ago – a sign that the worst of the foreclosure crisis may be in the past.
Ridgewood NJ, President-elect Donald J. Trump today met with more than a dozen of the greatest tech leaders in the country to begin a conversation and partnership in order to spark innovation and create more jobs in the U.S., particularly for working Americans.In addition to the private sector leaders in attendance, the President-elect was joined by Vice President-elect Mike Pence, Jared Kushner, Ivanka Trump, Donald Trump Jr., Eric Trump, Peter Thiel, Reince Priebus, Steve Bannon, Wilbur Ross, Gary Cohn and Stephen Miller. During the meeting the President-elect discussed a wide range of issues impacting both American workers and American companies, including specific innovative solutions that have been blocked by narrow thinking in Washington.
The President-elect expressed an open mind and willingness to listen, which was greatly received by the industry leaders in attendance.
During the Tech Summit, the following topics were discussed:
Creating more jobs for American workers
Climinating barriers preventing American companies from doing business in other countries
America’s competitive trade dynamic and market access with China
Cutting taxes
Repatriation of American profits kept overseas by prohibitive tax rates
Improving our physical and digital infrastructures
Protecting our intellectual property rights
Improving America’s cybersecurity
Updating our government software systems
Technology in schools,
The need for greater vocational education opportunities
Reducing bureaucracy
Introducing greater accountability in the government procurement process.
The leaders in attendance also praised the ingenuity and energy of the American workforce, and President-elect Trump suggested reconvening the tech leaders again in the future, perhaps as frequently as every quarter.
Tech leaders in attendance included:
Jeff Bezos, Amazon
Safra Catz, Oracle
Tim Cook, Apple
Alex Karp, Palantir
Brian Krzanich, Intel
Elon Musk, Tesla
Satya Nadella, Microsoft
Larry Page, Google
Chuck Robbins, Cisco
Ginni Rometty, IBM
Sheryl Sandberg, Facebook
Eric Schmidt, Google
Glen Rock NJ, Bear was sighted in the area of Diamond Brook/lower Doremus Avenue around 11am. It did not appear aggressive to the person that reported it to the police. Police checked the entire area, and was unable to locate the animal. All schools were notified. If anymore sighting, please call the police immediately to report its location.
Glen Rock Police Department
1 Harding Plaza
Glen Rock, NJ 07452
Ridgewood NJ, According to the latest census data home prices across the state are still feeling the effects of the Great Recession, According to the most recent Census data, the median home value in New Jersey is $315,900, a 20 percent decline between the 2005-2009 Census and the 2011-2015 data.
Bergen County had the highest home values in the state, with the runner-up position going to Morris County. Bergen home values dropped from $530,867 to $441,100 or -16.9% from the 2005-2009 period to the 2011-2015 period compared to New Jersey values which dropped 19.5% and US values dropped -12.5% during the same period.
Pictured (from left): Maria Mediago, Vice President, Facilities Management, The Valley Hospital; Howard Halverson, Director, Environmental Services, The Valley Hospital; and Audrey Meyers, President and CEO, Valley Health System.
December 4,2016
the staff of the Ridgewood blog
Ridgewood NJ, The New Jersey Department of Environmental Protection (EPA) has recognized Valley’s commitment to recycling with an outstanding achievement award.
Valley was lauded for its recycling efforts, which include solid waste, medical waste, recycled waste and hazardous waste. The hospital uses a single-stream recycling system and makes a concerted effort to recycle whenever possible. For example, the OR now sends its reports electronically, which is saving hundreds of reams of paper annually. The hospital also recycles items such as old hospital beds and sends certain medical goods to be recycled for use by other institutions.
According to the EPA, “The Department promotes recycling through the annual recycling awards program that is coordinated in conjunction with the Association of New Jersey Recyclers (ANJR). The awards recognize the outstanding recycling achievements of municipalities, counties, businesses and industry and individuals, as well as schools and other institutions and are presented at ANJR’s annual recycling symposium. This program has generated positive publicity for New Jersey’s recycling efforts.”