Interest-Rate Spike Puts Mortgages at 14-Year Low
By
Nick Timiraos
Updated April 24, 2014 7:34 p.m. ET
Mortgage lending declined to the lowest level in 14 years in the first quarter as homeowners pulled back sharply from refinancing and house hunters showed little appetite for new loans, the latest sign of how rising interest rates have dented the housing recovery.
Lenders originated $235 billion in mortgage loans during the January-March quarter, down 58% from the same period a year ago and down 23% from the fourth quarter of 2013,…
Existing home sales fall three months in row Paul Davidson, USA TODAY
The housing market continued to sputter in March as adverse weather, low supplies and higher costs discouraged home buyers.
Existing home sales declined 0.2% to a seasonally adjusted annual rate of 4.59 million, the lowest level since July 2012, the National Association of Realtors said Tuesday. Home sales have fallen in seven of the past eight months.
Still, the market was a bit firmer than expected. Economists’ median estimate was for an annual sales rate of 4.57 million, according to Action Economics’ survey.
A brutal winter continued to play a role in the weak showing. Although March brought milder temperatures and fewer storms, sales activity largely reflected closings on purchase agreements signed in January and February, says Jim O’Sullivan, chief U.S. economist of High Frequency Economics.
Other factors are also holding down sales. The average 30-year fixed mortgage rate is at 4.27%, low by historical standards but up from about 3.4% a year ago. And higher home prices and a tight supply of homes for sale discouraged some buyers, NAR said.
There was a a 5.2-month supply of homes last month, up from a five-month supply in February, but six months is normal. Some of the tight inventory is welcome as the housing market recovers from the 2006 crash. Distressed homes, including foreclosures and short sales, accounted for 14% of sales in March, down from 21% a year ago.
Ben Carson: ‘We’re Being Manipulated’ by Those ‘Trying to Divide Us’ Alissa Tabirian April 18, 2014 at 10:17 pm
Dr. Ben Carson slammed the culture of political correctness and partisan labels at a WPEC-TV town hall panel held Thursday at the station’s studio in West Palm Beach, Florida, arguing that it has stifled free expression in America—namely religious freedom.
“We’re being manipulated. We’re being played by those people who want to divide, conquer, and control,” Carson said, alluding to the labels attached to those who disagree with their liberal counterparts. (Carson’s comments begin at at the 19:08 mark on the second video,WPEC Town Hall Religion 2. Scroll down the page and the three videos of the event are on the right side).
“If you are pro-life, then you’re anti-woman. If you’re pro-traditional marriage, then you’re homophobic. If you’re a white person and you say something against a progressive black person, you’re a racist,” Carson explained, calling for Americans “to realize that we are not each other’s enemies. The enemies are those people who are trying to divide us up.”
The panel featured religious leaders and a representative of an atheist organization speaking about religious freedom in society, including prayer in schools and the roots of morality.
Carson noted that when it comes to religion in the public sphere, secular progressives “try to impose a code of silence upon those who believe differently than they do.”
He cited the role of the Founding Fathers in building America as “a very spiritual nation” despite the claims of those “who try to re-write history,” and spoke of his own faith throughout his life’s work in pediatric neurosurgery.
Commenting on the split between science and religion on human biological development, Carson said, “It requires an enormous amount of faith to believe that something came from nothing.”
Chris Christie’s comments spark debate over realty transfer fees in NJ
FRANKLIN — Several months ago, Scott Packwood, a retired state trooper, started looking for a smaller, less expensive place for his family to live.
The eldest of two daughters was planning to move out after graduating from college, and the family’s 10-room house in the Somerset section of Franklin Township was suddenly larger than he and his wife needed. Property taxes, Packwood said, had also grown to more than $13,000 a year.
“We said enough was enough,” the 52-year-old explained.
The house sold quickly. But when Packwood was about to close on the sale last month, his attorney told him something that shocked him: He had to pay $5,435 for a realty transfer fee imposed by the state.
“It’s painfully ridiculous,” said Packwood, who has since moved to North Brunswick. “I mean, $5,400?”
So when Gov. Chris Christie held a town hall in Somerset last Tuesday, Packwood reserved a spot in the audience, raised his hand, and asked the governor why the fee exists.
“It’s a grab by the government to take more money for no good reason,” Christie said, blaming Democrats for raising the fee years ago. “A sales tax? There’s a rhyme or reason to it. An income tax? There’s a rhyme or reason to it. A corporate business tax? There’s a rhyme or reason to it. A realty transfer fee? From my perspective, it makes no sense.” (Johnson/Star-Ledger)
High school senior forms petition with over ONE THOUSAND signatures against Michele Obama speaking at their high school graduation ‘because it would overshadow the students’ big day’
Taylor Gifford, 18, started an online petition on Thursday with over 1,200 signatures asking that Michelle Obama not speak at Topeka High School graduation Obama’s speech is tied to the 60th anniversary of the U.S. Supreme Court’s decision in Brown v. Board of Education outlawing segregation in schools Some students feel that the speech would overshadow student accomplishments and others feel limited seating will be a problem
By ASSOCIATED PRESS
PUBLISHED: 17:26 EST, 18 April 2014 | UPDATED: 01:20 EST, 19 April 2014
If expanding the guest list to include Michelle Obama at graduation for high school students in the Kansas capital city means fewer seats for friends and family, some students and their parents would prefer the first lady not attend.
A furor over what the Topeka school district considers an honor has erupted after plans were announced for Obama to address a combined graduation ceremony for five area high schools next month an 8,000-seat arena. For some, it was the prospect of a tight limit on the number of seats allotted to each graduate.
For others, it was the notion that Obama’s speech, tied to the 60th anniversary of the U.S. Supreme Court’s decision in Brown v. Board of Education outlawing segregation in schools, would overshadow the student’s big day.
Read more: https://www.dailymail.co.uk/news/article-2607817/Kansas-speech-Michelle-Obama-draws-complaints.html#ixzz2zQakn74k Follow us: @MailOnline on Twitter | DailyMail on Facebook
7 dangerous Apps that kids are using and parents need to know about
A look into the some of the scariest Apps for your kids
Yik Yak – This App is one of the newest and one of the most dangerous. It allows users to post text-only Yaks of up to 200 characters. The messages can be viewed by the 500 Yakkers who are closest to the person who wrote the Yak, as determined by GPS tracking. Users are exposed to – and contributing -sexually explicit content, abusive language and personal attacks so severe that schools are starting to block the App on their Wi-Fi. Although the posts are anonymous, kids start revealing personal information as they get more comfortable with other users.
SnapChat – This App allows users to send photos that will disappear after 10 seconds. Once the recipient opens the picture, the timer starts. Then it’s gone. From both the sender’s phone and the recipient’s phone. However, the recipient can take a screen shot of the photo and have it to share with others. This App enables kids to feel more comfortable “sexting” with peers. KiK Messenger – This is a private messenger app and is coveted by those under 18 for a number of reasons. The App allows kids to send private messages that their parents can’t see. There is very little you can do to verify the identity of someone on Kik, which obviously poses the risk of sexual predators chatting with your child. And again, this is an easy tool for sexting. Poof –The Poof App allows users to make Apps disappear on their phone with one touch. Kids can hide every app they don’t want you to see on their phone. All they have to do is open the App and select the ones they don’t want you to see. Very scary! The good news about this App is it is no longer available, which isn’t uncommon for these types of Apps. But, if it was downloaded before it was deleted from the App store, your child may still have it. Keep in mind that Apps like this are created and then terminated pretty quickly by Android and Apple stores, but there are similar ones being created constantly. Some other names include: Hidden Apps, App Lock and Hide It Pro. Omegle – This App has been around since 2008, with video chat added in 2009. When you use Omegle you do not identify yourself through the service – chat participants are only identified as “You” and “Stranger”. You don’t have to register for the App. However, you can connect Omegle to your Facebook account to find chat partners with similar interests. When choosing this feature, an Omegle Facebook App will receive your Facebook “likes” and try to match you with a stranger with similar likes. This is not okay for children. There is a high risk of sexual predators and you don’t want your kids giving out their personal information, much less even talking to strangers. Whisper – This is a meeting App that encourages users to post secrets. You post anonymously, but it displays the area you are posting from. You can search for users posting within a mile from you. A quick look at the App and you can see that online relationships are forming constantly on this App, but you never know the person behind the computer or phone. One man in Washington was convicted of raping a 12-year-old girl he met on this App just last year. Down – This application, which used to be called “Bang with Friends,” is connected to Facebook. Users can categorize their Facebook friends in one of two ways: they can indicate whether or not a friend is someone they’d like to hang with or someone they are “down” to hook up with. The slogan for the App: “The anonymous, simple, fun way to find friends who are down for the night.” If that alone doesn’t scare you, I don’t know what will!
Republican senator plans to introduce bill to end NJ’s realty transfer fees
TRENTON — One day after Gov. Chris Christie said he would abolish reality transfer fees in New Jersey if given the chance, a fellow Republican responded with a bill seeking to do just that.
State Sen. Diane Allen (R-Burlington) said today she will soon introduce legislation that would repeal the fees that residents have to pay when selling a home here.
“When you sell your home in New Jersey, you’re getting whacked by this arbitrary tax, and that’s wrong,” Allen said. “This initiative will help struggling homeowners, including those who might be facing short sales or foreclosures. It will save property owners across this state a burden of thousands of dollars, which particularly hurts those who have lost equity in their homes due to the economic recession.”
Allen plans to introduce the bill April 28. (Johnson/Star-Ledger)
Over 60,000 New Jersey Students Take Part in Field Test of Online PARCC Exams
More than 62,000 New Jersey elementary and high school students were part of the nation’s first large-scale test of the online PARCC exams, an early trial that officials are calling a success — despite some glitches.
New Jersey’s participation over the past month was among the largest in the country, topped only by Illinois and Ohio.
And depending on who is talking, the trial went fairly well, with comments still coming in. NJ Spotlight is conducting its own survey, too, for our readers to share their experiences.
The chief spokesman for PARCC — the acronym for the Partnership for the Assessment of Readiness for College and Careers — said yesterday that the field tests, which involved more than 200,000 students in more than a dozen states, went about as expected, with no major problems but plenty of smaller issues to be addressed.
Taking place in more than 1,000 New Jersey schools, the trial was in the performance-based piece of the PARCC exams for language arts and math, in which students are asked to complete writing assignments or more complex math computations.
PARCC released new versions of the practice exam last week, allowing the public to take the language arts and math tests themselves. (Mooney/NJSpotlight)
Benjamin Franklin Middle School students show school spirit
Students from B.F. Middle School competed for the best Super Hero Costume as part of School Spirit week during an assembly at the school this morning. The principals of Travell, Somerville and Hawes schools came by to judge the costumes. Ridgewood Officers Michael Karcher and Lt.Glenn Ender were on hand as part of the youth outreach program.
School budget elections disappearing in New Jersey
April 12, 2014, 11:28 AM Last updated: Saturday, April 12, 2014, 11:28 AM
By GEOFF MULVIHILL
Associated Press
TRENTON, N.J. (AP) — Just a few years ago, April school elections were a key date on New Jersey’s political calendar, the time most of the state’s voters had — but ignored — the chance to say yes or no to property tax increases.
Now, the only-in-New Jersey votes hardly exist.
Just 26 of the state’s 585 school districts will hold elections April 23. That’s 15 fewer than last year.
The change is a result of a law that, starting in 2012, allowed schools to save money and duck public outrage by moving school board elections to November and scrap votes on the tax levy. School budgets are the biggest component of New Jersey property tax bills, which average more than $8,000, the highest in the nation.
The conversion has been faster than expected, and it has come without much complaint.
Frank Belluscio, a spokesman for the New Jersey School Boards Association, said his group doesn’t believe the school budgeting process has changed much because the direct vote on tax levies associated with school budgets is a thing of the past in most communities.
The budgets, he says, are still subject to a cap on how much administrative expenses can grow, still get reviewed by state education officials and are still subject to public hearing. And those that call for property tax increases of about 2 percent still must be voted on — unless the bigger increases are because of certain exceptions.
– See more at: https://www.northjersey.com/news/school-budget-elections-disappearing-in-new-jersey-1.938920#sthash.zbWpmLqc.dpuf
Charter School Applications Remain Strong, Despite Few Approvals by State
Administration’s reluctance to sign off on new charters doesn’t do much to discourage nearly 40 new applicants
Even as the Christie administration approves fewer new charter schools, interest in opening these facilities remains high, with nearly 40 applications coming in last week for the latest round of review.
Thirty-eight applications were received in all, although that number may be culled after preliminary reviews are conducted by the state Department of Education to determine if the proposals are complete.
The high number of applications reflects the enduring interest in operating these schools, even as the state throttles back on approvals. In the round of applications this past March, 38 proposals yielded just three approvals.
Overall, 14 of this year’s applications are repeat submissions; nearly a dozen come from the larger education management organizations that are coming to dominate New Jersey’s charter landscape. (Mooney/NJSpotlight)
UConn’s success envied around nation, especially in N.J.
APRIL 8, 2014, 10:55 PM LAST UPDATED: WEDNESDAY, APRIL 9, 2014, 12:48 AM
BY TARA SULLIVAN
RECORD COLUMNIST
THE RECORD
This was before the opening tipoff, before her Connecticut women’s basketball team routed Notre Dame for a second consecutive national championship, before Stefanie Dolson helped turn Storrs, Conn., into the college basketball’s epicenter. Dolson, a senior center who would go out and dismantle the Fighting Irish with 17 points and 16 rebounds, was asked if she’d heard any words of advice from the previous night’s national champions, otherwise known as her male counterparts back at UConn.
Dolson said she and her teammates had received texts from the men’s players that said, “One more game to go – you got this.”
That they did.
For the second night in a row, a Connecticut team outran, out-jumped and out-hustled the opposition; and for the second night in a row, Connecticut was the last college basketball team standing, finishing off a male-female double-double championship for the second time in school history.
The school that was supposed to be left behind is on top of the world.
With a wire-to-wire 79-58 win over previously undefeated Notre Dame in Nashville, Tenn., on Tuesday night, the Connecticut women didn’t simply finish off a perfect 40-0 season, but improved to 9-0 in national title games under head coach Geno Auriemma. One night earlier, the UConn men’s team defeated Kentucky, winning its second national title in four years, and fourth overall.
Between second-year coach Kevin Ollie and predecessor Jim Calhoun, the men’s team is also perfect in four championship games.
Connecticut’s position among the country’s elite athletic programs is indisputable, a testament to a long, sustained and successful building project that is the envy of schools across the land.
Nowhere is that shade of green deeper than amid the sea of Rutgers red, where a floundering department feels so far away from the superior level Connecticut projected to the world across a dominant month of March.
Ridgewood NJ, April 9, 2014 – The Ridgewood blog was founded in March of 2006 by James J Foytlin aka PJ Blogger .[1] Mr. Foytlin was born and raised in Ridgewood ,New Jersey and is a graduate of Ridgewood High School .[2] [3]
After many years living in New York City[4] Mr Foytlin returned to Ridgewood after a divorce and the tragic events of 9/11 . Once he settled in he noticed a lack of sufficient news coverage of local events . One day a friend from Brazil[5] showed him her home town on the internet and to Mr. Foytlin’s great surprise when he tried to reciprocate he was utterly dismayed at the absolute lake coverage of his home town. After all Ridgewood is only 18 miles from midtown Manhattan[6] the media capitol of world and there was not a single picture of Ridgewood to be found . How could this be? Ridgewood is a picturesque upper middle class village of around 25,000 located in Bergen county in northern New Jersey[7] . Founded by Dutch settlers before it became an English colony[8] . The town or village as its called is steeped in rich history and tradition .Known for a large amount of Victorian era housing , a quality school system and a family friendly atmosphere.
Though busy getting reacquainted with his home town the fact that the Village of Ridgewood was so under represented on the internet continued to disturb Mr. Foytlin. Mr. Foytlin had been writing news letters for his job in financial services since the mid 1990’s . The popular flip, off beat investment strategy news letters had become email blasts with the advent of readily accessible internet.[9] By 2004 the email blasts were converted into blog format for the One Small Voice blog (https://onesmallvoice.blogspot.com/ ). [10]
Around that time the Village of Ridgewood had finally completed it’s much anticipated and long delayed renovation of the Village hall which has been flooded out due to Hurricane Floyd.[11] The renovation was marred by huge cost over runs and lengthy delays. In 2005 it opened with great fan fare , was once again flooded with the very first rain . Mr. Foytlin was more shocked by the abject lack of responsibility taken by elected officials than the fact that the $9 million dollar renovation had to some extent been a failure . That was the breaking point and Mr. Foytlin had had enough so he decided to give , citizen journalism a go and created the Ridgewood blog in March of 2006. [12]
The birth of PJ Blogger .By this time Blogging its seems had become quite the rage and mainstream news anchors such as Dan Rather had questioned the validity of information from non professionals sitting around in their Pajama’s blogging.[13] Mr. Foytlin not a fan of Dan Rather or any of the mainstream media decided to blog under the name PJ Blogger as a play on words and to plant himself firmly in the camp of the new digital media.
Innovations by the Ridgewood blog to citizen journalism.
“The Fly” is a column on the Ridgewood blog the originates from the expression ,”I’d like to be a fly on the wall “ . The idea is that every citizen has both a unique perspective and experience and these two factors can be used to gather news and opinions about local issues. Originally only of handful of people in town participated but with time the Ridgewood blog can now count on 30–50 semi regular contributors. These post are both anonymous and signed and are largely opinion as well a breaking news.[14]
The Ridgewood blog brings a free market lassie fare point of view to local issues . Mr. Foytlin aka PJ Blogger has stated that for local issues there are only two kinds of people ;the ones who say spend what every you want because I will not be around to pay the bill and the second group which are more focused on the ,”be careful this is my money your spending” . The Ridgewood blog is dedicated to the interplay of there two groups.[15]
[1][12] the Ridgewood blog website https://theridgewoodblog.blogspot.com/
[2] Birth Certificate born in Valley Hospital , Ridgewood 04/09/1962
[3] Ridgewood High School Class 1980
[4] 444 East 86th street ,530 East 72nd
[5] Monica Rocha
[6] Mapquest
[7] United States 2000 Census, the village population was 24,936.
[8] https://www.americantowns.com/nj/ridgewood/organization/vi…
[9] Fahnestock & Co. now Oppenheimer & Co.
[10] https://onesmallvoice.blogspot.com/
[11] https://www.ridgewoodlibrary.org/localhistory/lh_vh_pease.htm
[13] https://www.opinionjournal.com/diary/?id=110005611
[14] [15] James J Foytlin
file photo Cory Booker in Ridgewood by Boyd Loving
New Jersey – It Just Ain’t Working
Editor’s Note – There are a number of national news stories today that highlight how fiscal and social policies are destroying the state. The state’s credit rating was down-graded by Moody’s, it’s largest city is posed for state takeover, public pensions are in critical condition and political correctness has run amok in our schools.
How do you plan to change this?
NEWARK FACING ‘EXTRAORDINARY LEVEL OF FISCAL DISTRESS’
UNION CITY, New Jersey–New Jersey’s biggest city has yet to file a budget and hasn’t told the state whether it will need federal aid this year. Left in an “extraordinary level of fiscal distress” by former Mayor Cory Booker, Newark is on the brink of a state takeover.
The Associated Press reports that officials responsible for keeping Newark afloat are increasingly hitting roadblocks in their attempts to streamline the government. In one letter to the City Council, one city official, Thomas Neff, described the situation as “an extraordinary level of fiscal distress” and urged the ailing city to invite state oversight.
While the city is currently being run by an interim government since Cory Booker’s ascendance to the Senate, both candidates currently running for mayor oppose state intervention. New Jersey generally is struggling through a stagnating economy and serious revenue shortfalls, but Newark has become especially aggrieved.
Neff’s argument is centered around the fact that Newark has yet to produce a budget for 2014 and has not reached out to state officials for financial aid during this difficult time.
The federal government is also threatening to intervene to save Newark’s police department. The Justice Department announced in February that it would send observers to the city to monitor police. This resulted from a 96-page appeal that the American Civil Liberties Union sent to the federal government arguing that federal oversight in Newark would prevent police abuse.
The AP notes that Booker, who ran his Senate campaign on a commitment to reform Newark, continues to be proud of his work in the city. He argues that he “turned the city around” after being told “Newark’s problems were literally impossible to solve.” After several years of stagnant crime development, however, 2013 heralded a sea change in Newark’s status quo, with a significant increase in violent crimes–carjackings, in particular. The crime wave peaked during Booker’s Senate campaign but failed to deter his victory. Booker’s mark on the city led The New York Times to attack him as an “absentee landlord” who boasted of doing his job well because he “brought ice pops” around during the summer, though he never actually fixed problems.
Even Newark’s mayoral race is plagued with crime. The inside of the campaign bus of candidate Ras Baraka was “torn apart” and burned, and sugar was poured into the gas tank. A suspect has been arrested, but Baraka accuses opponent Shavar Jeffries of orchestrating the vandalism, as official campaign finance records show that the suspect was paid by the Jeffries campaign.
Reader says Calling Villagers crackpot laypeople is yond belief. Who was the alleged comment really directed to?
He must have meant the “laypeople” on the planning board — perhaps, those asking questions about the faulty premises in the reports of the developers so-called experts, or maybe those who dare to ask what the effect of 400 new families will be on schools, traffic and other aspects of village life. Shame on those planning board members who dare to ask questions of those who testify before the board!!
Could this really have been the developers’ response to the public or did the paper get the quote wrong. Is Saracino that much of a sniveling buffoon who thinks he can get away with destroying the town by insulting Villagers? I suspect there must have been a mistake. Surely, Mr. Saracino is not an ignorant bully who thinks he can insult and buy his way into re-making Ridgewood a city made in his image.
