Digging Out

Our latest Snowmagedden brought back memories of one of the earliest comic books I can remember reading. Little Lulu was a plain Jane ageless pre-teen with a thimble-hat, whose parents were rarely seen or heard, but had countless humorous encounters with her boy friend, Tubby, brother Alvin and her curious puppy.
For this snow-deprived California born lad, her most memorable adventure was digging out of her home alone after a blizzard that left drifts above the roof line. My comic book collection is long gone, but Google brought the circa 1950 story back to life. Loved the fact that she could dig a tunnel for blocks that beelined to the front door of her favorite soda fountain. Holsteins here I come!
(click on images to enlarge)

Housing Affordability at Near Record Level

(photo of Levittown model home)
The typical American family, who makes the nation’s median income of $64,000 a year, could afford to buy 70.8% of all homes sold in the United States during the last three months of 2009. By comparison, only 55% were affordable in the second quarter of 2008.
The National Association of Home Builders judges a home to be affordable if a family making the median income could devote no more than 28% of their take-home pay toward housing costs.
There was a huge variation in affordability around the nation. All five of the most affordable major housing markets were in the Rust Belt, led by Indianapolis, which has been the nation’s most affordable major metro area for more than four years. More than 95% of all home sold there were classed as within the budget. Detroit was the second most affordable major market with 93.4%. The least affordable city? New York, at 20%.

Homeowners Renting Out Rooms to Avoid Foreclosure

Economic setbacks are forcing increasing numbers of people to reevaluate where and how they live. In addition to former homeowners becoming renters, those who cannot afford their mortgage payments have decided to rent out rooms in their homes to make ends meet. A recent story in The San Jose Mercury News suggests that we are now becoming a nation of “sharers,” as homeowners continue to take in tenants to pay their mortgages. Some may even take in multiple tenants although many towns have restrictions on "Rooming House" zoning. College towns tend to be more tolerant of such setups. My cousin paid off the mortgage on his modest 3BR Palo Alto Ranch home by taking in as many as eight Stanford students at a time for over 30 years.

Snowpocolipse in a Warming World

Dr.Jeff Masters puts it in context in his Wunderblog post: It’s not hard at all to get temperatures cold enough for snow in a world experiencing global warming. According to the Intergovernmental Panel on Climate Change. the globe warmed 0.74°C (1.3°F) over the past 100 years. There will still be colder than average winters in a world that is experiencing warming, with plenty of opportunities for snow. The more difficult ingredient for producing a record snowstorm is the requirement of near-record levels of moisture. Global warming theory predicts that global precipitation will increase, and that heavy precipitation events—the ones most likely to cause flash flooding—will also increase. This occurs because as the climate warms, evaporation of moisture from the oceans increases, resulting in more water vapor in the air.

Open House on Orange St.

Had an interesting encounter with a gent with a different approach to open houses. He's not licensed as a Realtor, but apparently gets paid to snag passers by(like me) who he sees pausing in front of these condo steps -- from the relative warmth of his minivan a couple of houses away. He then shares info about the units and gets a fee from management for showing them. We discussed the sluggish condo market in Bloomfield and he reported that half the 14 units are still unsold after over two years on the market.

Meanwhile, several blocks away on Montgomery Street, sits another just completed block of a dozen townhouses with no sign of life on a Sunday afternoon. They're asking about 100k more. Their 339k unit is the highest priced in Bloomfield. It has been on the market for 443 days. For yet another 100K you can move up to the Brookdale section of Bloomfield where Bloomfield's last woodland forest has been clear cut in half to make way for a much larger development of 42 townhouses.

I've written earlier about my discussion with the aforementioned Liongate developer who seemed unaware of the declining market for condos and townhouses in town. He seems to have had a reality check since the only development to the site in the past year has been a growing pond of stagnant rainwater. Developers continue to be attracted to Bloomfield's proximity to the high end gloss of Montclair and express RR and Bus service to NYC. Commuters are just starting to appreciate the advantages of Bloomfield, but not so much the advantages of condo living.

Top 5 Home Improvements Updated

HomeGain.com, one of the first websites to offer Web-based free instant home values, has released the results of its nationwide home improvement and home staging Home Sale Maximizer survey.

HomeGain’s recent survey shows the top do-it-yourself home improvements that Realtors recommend to home sellers. According to their survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:

1. Cleaning and de-cluttering ($200 cost / $1,700 price increase = 872% ROI)
2. Home staging ($300 cost /$1,780 price increase = 586% ROI)
3. Lightening and brightening ($230 cost / $1,300 price increase = 572% ROI)
4. Landscaping ($320 cost /$1,500 price increase = 473% ROI)
5. Repairing plumbing ($385 cost /$1,250 price increase = 327% ROI)

Cleaning and de-cluttering continues to rank as the top suggested home improvement recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment.

“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of a home.”

LEEDing the way in Bloomfield

The Leadership in Energy and Environmental Design (LEED) Green Building Rating System™ encourages and accelerates global adoption of sustainable green building and development practices. LEED is a third-party certification program and the nationally accepted benchmark for the design, construction and operation of high performance green buildings. LEED for Homes is a rating system that promotes the design and construction of high-performance green homes. Green homes use less energy, water and natural resources, create less waste, and are more durable and comfortable for occupants.

One enterprising Bloomfielder we know has spent the last year turning his recently acquired home into the first LEED Platinum home in NJ. We recently photographed the Innards before the drywall was installed. The home includes a geothermal heating and cooling system, energy efficient lighting and plumbing, closed cell foam insulation, zero-VOC paints, sustainable materials, and much more. Tomorrow we tour the nearly completed home. Stay tuned.

Fannie Mae -- Not?

Chairman of the House Financial Services Committee Barney Frank said Friday "I believe this committee will be recommending abolishing both Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance." The Treasury has poured more than $100 billion into these two quasi-government institutions, providing a government backstop to Fannie and Freddie in their role as guarantors of more than $5 trillion in home mortgages.

According to one perceptive blogger: "Fannie and Freddie stood ready to make a market in these toxic assets, to provide the liquidity so that the profit-seekers could lay off the risk on another entity. Without Fannie and Freddie the whole rotten mess couldn't have happened. They didn't point the gun and they didn't pull the trigger; but they sold the bullets. They were enablers that allowed the greedy bankers to successfully realize their aims."

Greenopolis

Greenopolis.com focuses on changing the world through recycling, waste-to-energy and conservation. Greenopolis rewards visitors for their sustainable behaviors on their website, through their GreenOps Tracking Stations as well as with with curbside recycling programs.

Each time you recycle using the GreenOps Tracking Station, you receive a receipt indicating the number of items recycled and a deposit statement with a prize code redeemable for points at Greenopolis.com. Applications are also in development for scanning at home, school and from your mobile phone.

New FHA Rules to Speed Foreclosure Sales

The Real Estate Industry has been buzzing with news out of Washington that should have a major effect on investors interested in the foreclosure market. HUD Secretary Shaun Donovan announced a temporary policy yesterday that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure.

FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties. "This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed," Donovan said.

"FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties," said FHA Commissioner David H. Stevens. "This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity." The waiver will take effect on February 1, 2010 and is effective for one year,

The new FHA rule will open doors that have been closed before, not only because of the new FHA buyers, but also because it removes much of the stigma over property flipping by helping to preserve property values.

Helping the Homeless in Haiti

During my early photojournalistic years, I spent an unforgettable Thanksgiving weekend in Haiti during the reign of Papa Doc. I'll never forget the beauty, dignity, and graciousness of the people I encountered in spite of their intolerable living conditions. Hunger, brutality, and shantytowns co-exicted with a flourishing tourist industry. Upon hearing about yesterday's catastrophic earthquake,
I was especially concerned, because a journalist friend, of many decades, Tequilla Minsky, had been sending Facebook updates of her latest trip there. For many years, she had been reporting on Haiti's culture and it's emigre community in NYC. Tequilla's silence was finally broken with this post on Facebook: "7. 0 or so...many building have collapsed but not the Oloffson(hotel), which is my home...all is fine here (i arrive about 2 hours before this happened)." She was then able to upload her stunning photographs to to the NY Times before anyone else.
There are many ways you can help:
UNICEF requests donations for relief for children in Haiti. You can also call 1-800-4UNICEF.On the Internet: unicefusa.org/haitiquake
You can easily donate through Wyclef Jean's foundation, Yele Haiti. Text "Yele" to 501501 and $5 will be charged to your phone bill and given to relief projects through the organization.
Locally, Farm 2 Bistro suggests dropping off relief supplies at 177 Franklin Ave. in Nutley from 11 am -10pm. Free gift in return for every donation.
Baristanet and Huffington have many other opportunities for support.
•Operation USA is appealing for donations of funds from the public and corporate donations in bulk of health care materials, water purification supplies and food supplements which it will ship to the region from its base in the Port of Los Angeles. Donate online at www.opusa.org, by phone at1-800-678-7255
CARE Telephone: 800-521-CARE (800-521-2273) On the Internet: care.org
Updated property damage reports can be found here:
News of the NJ connection to Haiti can be found at North Jersey.com

Lay an Egg Over Easy for a Spare Room

You wouldn't need a very big yard for this super-cool modern addition.
According to rentedspaces.com, it was designed by the Belgian firm, dmvA and constructed of polyester. Since it can pass for art and can be dropped anywhere via crane, it could apparently skirt local building codes -- perhaps even here in Bloomfield.

The Way We Were -- Last Week

We've carved out a unique niche in the NJ blogosphere that somehow keeps us hopping around this top ten list. Expect to find us somewhere over or under the rainbow next week.

Look to the Rainbow

We were looking for an optimistic perspective on such issues as foreclosures and tax sales, not to mention land developers. Throw in a few more controversial issues like immigration, racism, the national debt, and political corruption and you have key elements to Finian's Rainbow. We were lucky enough to catch the rarely revived Broadway musical satire this week and found it as topical as it must have seemed when it opened in 1947. The musical's economic themes — the perils of easy credit are among them — seem even more relevant today. It's also a lot of fun with unforgettable musical numbers. In spite of rave reviews, it's closing on January 17th.

A Time to Reflect

WISHING YOU - SOME TIME FOR RELAXATION AND REFLECTION...

GOOD HEALTH WITH EXERCISE

SOMEONE TO DANCE WITH

BUT MOST OF ALL --- I WISH YOU. 
LOTS OF HUGS...

AND THE BLISS OF REAL LOVE

MANY BLESSINGS COME YOUR WAY TODAY:
MAY YOU ALWAYS HAVE LOVE TO SHARE
HEALTH TO SPARE
AND FRIENDS THAT CARE!!
Happy, Healthy, Joyous and Prosperous
New Year from our house…
To yours!
Love and Peace….

Geoff and Rebecca

At What Point is Flying More Trouble Than It's Worth?

Treehugger.com is suggesting that Air Travel may be going the way of the horse and buggy. Forget the lines while you wait to get on the plane, the real torture starts when you are in the air. Gizmodo lists the new rules, and flying has just become a far more miserable experience than it ever was before; we now have to sit on our hands:
1. Passengers must remain in seats beginning 1 hour prior to arrival at destination.
2. Passenger access to carry-on baggage is prohibited beginning 1 hour prior to arrival at destination.
3. Disable aircraft-integrated passenger communications systems and services (phone, internet access services, live television programming, global positioning systems) prior to boarding and during all phases of flight.
4. While over U.S. airspace, flight crew may not make any announcement to passengers concerning flight path or position over cities or landmarks.
5. Passengers may not have any blankets, pillows, or personal belongings on the lap beginning 1 hour prior to arrival at destination.
Does this put us at the tipping point where people might start flocking to trains? Or change our attitudes toward travel?

Latest Surge in Existing Home Sales Spurs Optimism for 2010

November's better than expected housing data is reinforcing last summer's market turnaround. As existing home sales for November rose to their highest level since February 2007, industry watchers are anticipating a buying spree in 2010. Stocks rallied with new signs of a stabilizing housing market.
The momentum is expected to continue into 2010 since the $8,000 tax credit was extended and expanded with $6,500 tax break for repeat home buyers that expires on April 30.

Current sales remain at the highest level since February 2007 when they hit 6.55 million, according to the National Association of Realtors®

A Few Survival Items for "The Blizard of the Century"

Brett and Kate McKay are living proof that their eclectic website: The Art of Manliness is not for men only. Their latest collaboration is "13 Things A Man Should Keep in His Car." If 13 seems like too many to cover most emergency contingencies, scroll down their page for many more practical reader additions(This is only a selection from the first 94 posts -- please forgive any duplication) including:

- A good lockback knife
- Rope and/or tiedown straps
- I keep a 2 liter bottle of water stuck in a corner of my tirewell in the event of overheating
- rags or cloths for cleaning up after a tire change
- I always keep a can of Fix-a-Flat in my car. I’ve never used the stuff myself, but more than once I have handed it to someone else when I didn’t really trust the way a stranded motorist situation looked.
- Keep a general interest book you love and don’t mind re-reading. Great way to entertain yourself when stranded anywhere.
Flat and Phllips head screwdrivers, knife, channel-lock pliers, a crescent wrench, some long cable (zip) ties,
Space blankets (Takes up less space than normal blankets; plus, it can be used for signaling.)
Two more essentials: a $20 in the first aid kit, and a hide-a-key with a working key.
Steel coffee can with a roll of toilet paper inside
Granola bars
A 2-liter pop bottle filled with water (but with enough room left for expansion if it freezes)
A towel
A socket wrench set, hammer and pliers....
a Battery Booster/ Air Compressor/ small appliance charger with a built in flash light. I find it to be a life saver since it combines so many necessary features that I think are a must have for your vehicle.
- a winter sleeping bag
- snow gear (boots, snow pants, proper jacket, winter gloves, several cheap toques, ski goggles are handy)
- 3 or 4 pairs of simple cotton gloves
- A full-sized shovel, forget the folding shovel this will cause more aggravation than good, do yourself a favor and bring a full sized shovel on all long winter trips. i leave mine in the car all winter.
- hot pockets hand-warmers.
Water resistant coveralls stuck in the tool box will keep you looking your best upon return to civilization and give you an added level of protection from automotive fluids. Don’t forget the leather work gloves and a box of disposable nitrile gloves as well.
Nobody’s said road flares yet, as far as I can tell. These, along with jumper cables, have been by far the most commonly used and important things I’ve had in my trunk.

...the Bible is also a great book in any situation; but especially good for warmth, cheering up, confidence and encouragement. Also, heaven forbid… it’s thin pages are great fire starters.

Sometimes the trunk may become inaccessible and you can’t get to what you need.
If you can carry what you need in the back seat in a small box, it could possibly save your life and prevent frostbite.

Your Guide to Copenhagen

The earth’s temperature has risen by 0.74 degrees Celsius in the last 100 years.

An increase of increase of just 2 degrees Celsius more will lead to massive loss of species, 100 million climate refugees, and other major stresses.

We need to set strict emissions restrictions by 2012 in order to avert a worldwide climate catastrophe.

The conference marks a milestone in climate change history, so if you’re not familiar with all the issues being discussed and the global changes we need to make to ensure a sustainable future, read on for Inhabitat's green guide to COP15!

Foreclosures Foreclosed

As foreclosed homes became more and more widespread, investors and bargain hunters have sought them out in growing numbers. But what happens when the owner of bank owned homes is foreclosed on. You then can have an FDIC owned home that may be an even bigger bargain. The Huffington Post reports that decent homes can be often found for as low as $500 at the FDIC website.

Down By the Riverside

Which would you prefer: An oceanfront, lakefront, or riverfront home? Most North Jersey folks would probably put riverfront living 3rd on the list because of flooding reports from monster storms of recent decades. As discussed in an earlier post, homes that need flood insurance are usually priced below market value and often turn out to be good deals. Many may have never had serious flooding but require close examination for signs of water damage. An older finished basement with wood trim, for example, may be a safer bet than a cleaned up concrete unfinished basement.
Garden State MLS listings are no longer required to state whether or not any property is in a flood zone or requires flood insurance. Yet even in non-flood areas, sellers are required to disclose if they have ever had water damage -- even in unfinished basements.The best time to find bargains is a few days after a major storm. Even several weeks after water levels have receded, tell-tale garbage piles can still be found in front lawns.
Incidentally, our office currently has three low priced listings in good condition with backyards on the Passaic River. The largest at 148 Bergen Ave. in Woodland Park(top), is listed at $269,900.
Two smaller properties at 4 and 5 Barber St.(below) in Little Falls are priced at $195,000 and $240,000 respectively. Since they are adjoining lots, they could be combined.

4 Northeastern States Make Progress in CO2 Reduction

Carbon dioxide emissions from fossil fuel use are declining in a growing number of states as they invest in the clean, renewable technologies that are part of a new energy future. Emissions remain on the rise in other states that have not eased their reliance on dirty fuels.
Environment New Jersey reports that Four Northeastern states—Connecticut, Delaware, Massachusetts and New York—emitted less carbon dioxide from fossil fuel consumption in 2007 than they did in 1990. Since 1997, gross state product in these four states increased by 65 percent while carbon dioxide emissions decreased by 5 percent.
• Seventeen states and the District of Columbia have seen total emissions decline since 2004, a year of peak emissions for many states. Maine saw the largest percentage decline over this period, while New York and Texas—the nation’s eighth-highest and highest emitters of carbon dioxide, respectively—saw the greatest absolute declines.
• Still, emissions in 33 states increased between 2004 and 2007. Emissions in Oklahoma saw the greatest percent age increase, followed by Montana and Hawaii.

Hopes for NJ Tax Cuts Fade After Key Merger Vote

Brian Donahue notes on NJ.com that this month's decision not to merge the tiny towns of Wantage and Sussex could have larger implications for the debate over property taxes and consolidation in New Jersey. It's one of the great paradoxes of New Jersey politics: most people agree there are too many layers of government, too many town halls and police departments and bureaucrats in a tiny state with 566 municipalities. But ask taxpayers to merge their town with the one next door, or maybe even share a police department and most of the time, the answer is a loud, "No way."(Don't miss Brian's Feature Video and reader comments)

That's just what happened last week in the Township of Wantage, where voters rejected a ballot measure that would have joined the town with the tiny Borough of Sussex. Sussex is essentially Wantage's downtown, cut off from the surrounding township in a feud over utilities costs in the late 1800's.

Bloomfield Wins Eco-Recognition

New Jersey is the first state in the nation to have a sustainability program that links certification with strong state and private financial incentives, and a fully resourced program of technical support and training. The Sustainable Jersey program is now the accepted benchmark for evaluating a municipality’s progress.

Bloomfield is part of an elite group of municipalities that have achieved the prestigious Sustainable Jersey certification in the first year of the program. Municipalities that earn the designation are considered by their peers, by state government and by the experts and civic organizations in New Jersey, to be among the leading municipalities in the state. Thanks to John Palomaki and the volunteers at Greener Bloomfield for their tireless efforts in achieving the designation.

The 43 actions of the Sustainable Jersey program are ambitious, covering areas such as energy and efficiency, health and wellness, land use and transportation, waste reduction, local economies, natural resources, and diversity and equity, to name a fewThe Sustainability Champion award recognizes municipalities that have scored the most points in the Sustainable Jersey certification program in three population categories: small (0-5,000), medium (5,000-50,000) and large (50,000+). The 2009 Sustainability Champion award winners are:
• Large: Woodbridge Township (Middlesex County)
• Medium: A tie between Ocean City (Cape May County) and the City of Summit (Union County)
• Small: Woodbine Borough (Cape May County)..

A New Day for Homebuyers' Tax Credit

It's official! President Obama today signed legislation H.R. 3548, which includes a provision to extend and expand the $8,000 first-time home buyer tax credit, with a new $6500 Credit for current homeowners wishing to move up. The New Jersey Association of REALTORS® (NJAR®) anticipates that the newly signed legislation will help maintain the recent momentum seen in the New Jersey real estate market and spur the state's economy as a whole.

"It's a brand new day for those first-time home buyers who were rushing through their transaction in anticipation of the original November 30th deadline because they now have more time to complete the process," said NJAR® Executive Vice President Jarrod C. Grasso, RCE. "The extension to April 30th of next year is key because these new buyers now have the opportunity to analyze every aspect of their purchase carefully and still close in time to obtain the $8,000 credit."

The legislation will extend the $8,000 first-time home buyer tax credit past its original November 30 deadline, and it will now be available through April 30, 2010. Additionally, existing homeowners who have lived in their homes for at least five consecutive years out of the last eight will be eligible for a credit that can total $6,500. In both cases, a written, binding contract to purchase must be in effect by April 30, 2010, and the purchaser needs to close by July 1, 2010.

On the "trading up" side, Goldman Sachs estimates as many as 70 percent of owners will be eligible.

"The credit has been shown to be a powerful incentive that significantly spurred the real estate market here in New Jersey," said Diane Dilzell, president of NJAR®. "Expansion of the tax credit to current homeowners is bound to aid in continuing to elevate the housing market and the economy further as it offers a bonus to those buyers. In addition to experiencing low prices and low interest rates, current homeowners are now faced with a prime opportunity to trade up to the home of their dreams."

The new law raises the limits for first-time buyers. The new limits for obtaining the full credit are $125,000 for a single person and $225,000 for a married couple. Individuals earning up to $145,000 and married couples earning up to $245,000 are eligible for partial credit.

According to data from the NATIONAL ASSOCIATION OF REALTORS® (NAR), in New Jersey, the home buyer tax credit has brought in an additional 6,500 buyers into the market in 2009 compared to 2008. NJAR® is hopeful that the credit extension and expansion can lead to continued growth in 2010.

More than 1.4 million people nationally have claimed the original tax credit, based on figures provided by the Internal Revenue Service (IRS). About 350,000 of those would not have made their purchase without the tax credit, according to estimates from NAR.

The Well Rounded Home

Nothing like thinking of the box in home design. Building materials and construction techniques are part of the story, but even once a residence is built there are furniture objects, wall fixtures and all kinds of other design elements that make rounded homes a radical challenge inside and out. Thanks to dornob.com.

Time to Move UP?

Had very good turnout at my Open House in Nutley. 10 sets of people with no audible complaints about the roomy split level. First time in a long time that majority of buyers were current homeowners looking to upsize.

Experts are now predicting that the "first-time buyer" tax credit will be expanded to "move-up homeowners. Crucial Senate vote should come in next couple of days. Let us pray...

No Paws Left Behind

Displaced borrowers haven't been the only victims of the foreclosure crisis. An alarming number of pets are being abandoned in vacant homes and properties. Shelters in areas with high numbers of default properties and foreclosures have warned of over-crowding of animals while neighbors of foreclosed properties report stray animals roaming the streets and parks.

No Paws Left Behind is one way that Real Estate Professionals can help save these animals. 63 percent of U.S. households own a pet, according to the 2007-2008 National Pet Owners Survey, which equates to 71.1 million homes. If foreclosure rates continue at current levels, more than one million animals could be abandoned over the course of the next year.

Bloomfielders for the 350 Project

Congratulations to Bloomfield's environental groups led by Bloomfield College.for your valiant efforts, on a stormy Saturday, in supporting the 350.org efforts on climate change awareness.
I just wish they were positioned a little closer to the cameras.(Click on photos to enlarge)

New British Map shows Impact of Climate Change

The British government yesterday raised the political stakes on climate change when it published a new map of the world that details the likely effects of a failure to cut greenhouse gas emissions.

The map shows the impact of an average 4 degree Centigrade rise in global temperature, which John Beddington, the government's chief scientist, said would be "disastrous". A study by the Met Office last month said that such a 4C rise could come as soon as 2060 without urgent and serious action to reduce emissions.

There's Still Time to Get Your $8,000

Know anyone ready to purchase their first home? There's still time to move to receive that $8,000 Tax Credit before it expires on November 30. We work with attorneys and Mortgage specialists who(depending on the situation) can help you close on a home in less than 4 weeks -- if you act NOW.

Treehouses On the MLS

Tree houses are a dream living space for so many kids, yet some of the most amazing tree buildings are planned, designed and constructed for adults – from restaurants and resorts to homes away from home. Not something you'd expect in NJ, this one posed a bit of a challenge for one Montclair homeowner. We have mobile homes in Wayne listed for less than this sky high property -- but that's another story.

Once a far-fetched futuristic idea, a living tree building is now not only possible but is also a reality – amazing living architecture that uses growing trees as their structural supports, twisted, shaped and connected as they make their way skyward.

Mortgage Delinquicies Mapped by County

The Federal Reserve considers the record rate of mortgage delinquencies, foreclosures and their impacts on communities an urgent problem. The New York Fed uses its expertise and knowledge to provide detailed data on U.S. credit conditions to the public to establish a body of factual data for use in forming policy decisions and developing mortgage foreclosure mitigation efforts.

The website, which also tracks other measures of consumer credit, including auto loans, student loans, and bank loans, is intended to help "government agencies, community groups, commercial institutions and other practitioners better understand, monitor and respond to local conditions associated with foreclosures and credit and mortgage delinquencies.

(The New York Fed's site has full data on each county.)
Red indicates counties where delinquencies have worsened, green indicates areas where conditions have improved, and the gray shading indicates areas where there has been no change. See extended comments at Huffington Post:

Climate Change Brewing Washington State

Visibility dropped to zero in parts of eastern Washington on October 4, as a large dust storm blew through. This image of the storm was captured on NASA’s Terra satellite shortly after noon. According to local news, the storm brought strong winds gusting to 43 miles per hour in places that propelled the dust across the southeast corner of the state. After numerous multi-vehicle accidents, sections of Interstate 90 near the town of Moses Lake and several local roads had to be closed for several hours.

Looking a bit like a new Starbuck's concoction, A thick, rippling plume of dust runs northeast to southwest through the center of the image. Dust stretches as far south as the cities of Pasco and Kennewick, which sit on opposite banks of the Columbia River.

Building An Even Better Lightbulb

Compact fluorescent light bulbs (CFLs), though far more energy efficient than their incandescent, have their critics. The lighting quality tends to be less intense and cool. They also contain trace amounts of mercury, posing health-related breakage and disposal concerns.

The L Prize is the first government-sponsored technology competition designed to spur lighting manufacturers to develop high-quality, high-efficiency solid-state lighting products to replace the common light bulb. Among the requirements is that the bulb must last more than 25,000 hours -— about 25 times longer than a standard light bulb.

The competition will substantially accelerate America's shift from inefficient, dated lighting products to innovative, high-performance products. Just as Thomas Edison transformed illumination over a century ago, the L Prize will drive innovation and market adoption.

The Department of Energy has announced that Philips Electronics has submitted the first entry in the L Prize competition. "The race is on," said DOE Solid-State Lighting Program Manager Jim Brodrick. "Philips is the first to submit a formal L Prize entry, demonstrating their leadership and corporate commitment to energy conservation in lighting. Philips' entry into the competition is a clear signal that massive energy savings from solid-state lighting are within our grasp. The field is wide-open, and we hope to see more entries from both large and small manufacturers."

Avoiding A Housing Relapse

Bloomberg is warning that the recovering housing market may be heading for a relapse as President Obama and Federal Reserve Chairman Ben Bernanke consider ending support for the industry that is widely viewed as he source of the global financial crisis.

The Obama administration is studying whether to let a first-time home buyers’ tax credit expire as scheduled at the end of November. The $8,000 credit has had a major impact on the demand for hew and existing homes in most markets nationwide, with new-house sales rising 9.6 percent in July from the prior month, the most since 2005.

Ending these efforts may stifle the housing rebound by depressing sales and pushing up both mortgage-backed bond yields and interest rates on home loans, even in the face of the record-low zero to 0.25 percent short-term rates the Fed has engineered, said economist Thomas Lawler.

New FDIC Info to Prevent Foreclosures.

The Federal Deposit Insurance Corporation (FDIC) announced on Wednesday that it is releasing a free tool kit of information that will help borrowers, community stakeholders and the banking industry avoid unnecessary foreclosures and stop foreclosure "rescue" scams that promise false hope to consumers at risk of losing their homes.

The tool kit includes critical information to help borrowers know who to contact and what documents they need to have available to apply for a loan modification that could save their home from foreclosure. This tool kit also describes the warning signs of potential foreclosure "rescue" scams and how consumers, community stakeholders, and bankers can report scammers and prevent fraud. The public can access the free tool kit at http://www.FDIC.gov/foreclosureprevention.

Does Living Green Increase your Life Expectancy?

It's no coincidence that healthy living has a direct connection to green living. People that care about the health of the planet often care about eating well, being outside, and avoiding the crap that will shorten their time on this beautiful planet. So it wasn't a huge surprise that when Prevention Magazine and Planet Green came up with a list of Surprising Signs That You'll Probably Live Longer, many of them fit right into a green lifestyle.

Open Houses

The 20 towns I cover the most usually average well over 200 open houses each Sunday. Yesterday there were 16 on this Labor Day weekend. What are the odds that the only two in Bloomfield were 3 doors apart from each other by competing brokers?
Both assured me they didn't coordinate with each other, but the two houses were very similar 4BR 2 Bath colonials comparably priced. We weren't the only party to show up -- got to listen to a sales pitch to a young couple in the kitchen as we snooped around.

Pending Home Sales Continue Record Roll

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June. It is 12 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007, when it was 100.7.

Affordability at Record High
Lawrence Yun, NAR chief economist, says the housing market momentum has clearly turned for the better.

“The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he says.

“Other buyers are taking advantage of low home values before prices turn higher," Yun says. "Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable."