50,000 Jobs to be Eliminated at Citigroup - 11/17/08 08:27 AM
Citigroup, thought to be one of the more conservative players in the financial industry, hasn't gone unscathed by the mortgage meltdown.  While, Citgroup has not made a play to acquire any struggling competitors, it has likewise not been a target for a takeover.
Citigroup's problems were highlighted back in January of this year in an article by Charlie Gasparino for CNBC On Air entitled Citigroup's Layoffs Could Reach 24,000 This Year. The projection was reflective of the anticipated impact from the downturn in the market combined with a portfolio of non-performing sub-prime loans.
Fast forward to this morning and we now get … (16 comments)

Monthly Residential Property Market Analysis For Fanwood, New Jersey- August 2008 - 11/15/08 11:55 PM
Fanwood's residential listings were down by 24% in August 2008 by comparison to last year. The listing price was down by 4%, with an average of $457,665. New listings were also down by27% with an average price of $465,291.
Homes under contract and scheduled to close were also down by nearly 14%, with an average price of $460,100. However, closings for the month were up 8%, with an average sales price of $431,393.
 
 
 

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Monthly Residential Property Market Analysis For Scotch Plains, New Jersey- August 2008 - 11/15/08 11:50 PM
Scotch Plains residential listings were down by 13% by comparison to August 2007, with an average list price of $689,648, representing an increase in price by 3%. However, new listings during the month were down by9% with an average price of $520,490, representing a decrease in price by 16.4%.
August 2008 saw an increase in properties scheduled to close by 6% with an average price of $532,389, representing an increase in price over August 2007 by 1%.
In the end, sales were down by 51.43%, although the average price was $515,765, up by 3%.
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Monthly Residential Property Market Analysis For East Orange, New Jersey- August 2008 - 11/15/08 11:46 PM
North Plainfield residential listings were up to 245 representing an 13,43% increase over August 2007. Conversely, the average price was $279,022, down by 9.3%.
New Listings were down to 34 for the month, with an average price of $269,604. Properties scheduled to close were also down to 14 with an average price of $242,706, representing a decrease of 12%.
Sales for the month were nearly 50% lower by comparison to August 2007, while prices remained roughly the same at $282,083.
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Monthly Residential Property Market Analysis For East Orange, New Jersey- August 2008 - 11/15/08 11:41 PM
East Orange's residential listings were down as was the average listing price at $215,344. New listings were down for the month to 54 verses 68 last year for the same month. New listings average $220,004.
Properties scheduled to close were basically the same at ten for the month with n average price of $168,260.
There were twelve closings with an average price of $180,821.
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Monthly Residential Property Market Analysis For Irvington, New Jersey- August 2008 - 11/15/08 11:38 PM
Irvington has higher residential listings for the month of August at 294 over last year's 272. Prices were down at $196,415, on average. Mew listings registered a lower price point at $164,096 with 34 coming on the market.
While properties scheduled to close average $156,629, the volume was unchanged from last year, at seven for the month.
Sales were down slightly with an average sales price of $141,250.
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Monthly Residential Property Market Analysis For Maplewood, New Jersey- August 2008 - 11/15/08 11:34 PM
Maplewood's residential listings were up by 8%, with a lower average price of $466,646. New listings were down in volume but up in price at $534,92, a 9% increase over last year.
Properties scheduled to close were up at 25 for the month, verses 16 for the same period, last year, with an average price of $525,915. slightly down from last year.
There was a variance of one for the sales for the month of August, with an average price of $578,778 up by 5% over last year.
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Monthly Residential Property Market Analysis For Newark, New Jersey- August 2008 - 11/15/08 11:29 PM
Newark's residential listings were 592 for the month of August, down from 664 for 2007 during the month of August. The average price was $233,443, also down.
New listings for the month came in at 68, down from 121 for 2007. The average price was down 21% at $219,407.
Properties scheduled to close were up at 18 with an average price of $206,567.
Sales were down slightly, with an average price of $180,000, a 21.5% reduction over August 2007.
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Monthly Residential Property Market Analysis For South Orange, New Jersey- August 2008 - 11/15/08 11:24 PM
South Orange's residential listings were up by 22.4% at 180 with an average price of $666,428, down from last year during the same period. New listings were up at 32 for the month with an average price of $772,229 up by 1% over last year.
Properties scheduled to close were up in volume and down in price, at $582,242.
Sales were down by 17.4% with an average sales price of $594,579, down by 14%.
 
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Monthly Residential Property Market Analysis For Orange, New Jersey- August 2008 - 11/15/08 11:20 PM
Orange residential listings were up at 174 with an average price of $261,851. New listings were slightly lower with virtually no change in the average price of 4294,078. Only two sales were scheduled to close, down from nine with an average price of $221,950, representing an increase of 8%.
Sales were down 50% at 4 for the month, with an average sales price of $264,250 verses last year's $263,688
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Monthly Residential Property Market Analysis For Plainfield, New Jersey- August 2008 - 11/09/08 12:00 AM
The number of listings for August 2007 was 445 with an average price of $336,766  & August 2008 was 510  with an average price of $296,757. More properties were available for sale this year. However, prices were down by 12%.
New residential listings during the month were 81 with an average of $315,290 for July 2007 and July 2008 was 69 residential listings averaging $283,960. Fewer properties came on the market this August and prices were down by 10%.
Now we come to the numbers reflecting the sales activity. August 2007 had 14 properties go under contract averaging $$287,907 versus August 2008 with 19 properties aveaging $241,376. prices are down this … (3 comments)

3rd Annual Harvest Wine Festival at the Hilton Short Hills - 11/08/08 11:57 PM
New Jersey wine connoisseurs and Jazz aficionados have cause to celebrate the fall season, as it ushers in the 3rd Annual Harvest Wine Festival on Friday, November 14, 2008. 80 plus wines chosen by The Wine Library of Springfield, New Jersey, will be offered for sampling along with hors d'oeuvres at the Hilton Short Hills. Attendees can sup on light fare and sample libations, while listening to Grammy nominated jazz guitarist Gil Parris and his band. Parris has the distinction of having provided musical accompaniment for artists such as Toni Braxton, David Sanborn and Bob James.
There will be an opportunity to attend a wine class conducted by a wine connoisseur, offered three … (2 comments)

Plainfield Events for the Week of November 09, 2008 - 11/08/08 11:39 PM
 
Monday - November 10. 7:30 PM. City Hall Library is the venue of the City Council Agenda Session. City Hall Library. 515 Watchung Avenue. Tuesday - November 11. 11 AM. Come out to the War Memorial and participate in Plainfield's observance of Veterans Dayl, Watchung Avenue and East 7th Street. Wednesday - November 12. 7 PM. The public is invited to attend the Cable TV Advisory Committee, at the City Hall Library. Thursday - November 13. 5:30 - 8:30 PM. Getting Connected: Free and Low-cost Marketing Solutions. Marketing solutions will be the focus of this workshop sponsored by the Plainfield Chamber of … (0 comments)

Ah Tis The Season - 11/06/08 08:11 AM
While driving through town yesterday I was marveling over the variety of colors the fall foliage takes on. How clean and crisp the air is and how we are about to embark upon the holiday season.
This is the time of year that I truly enjoy, probably because there are so many self indulgent activities to partake of. Just last month we concluded Spa Week, where you can have luxurious treatments for about half the cost at participating spas and salons. Now comes the opportunity to indulge in decadent chocolate creations.
The Chocolate Show which is hosted in Paris, Tokyo, Beijing … (4 comments)

Plainfield Symphony Celebrates leonard Bernstein - 11/04/08 05:20 AM
Guest conductor Gary Schneiderwill lead the Plainfield Symphony in its celebration of Leonard Bernstein's 100th birthday and his music. The audience will be treated to the Overture to Candide, as well as the symphonic dances from West Side Story. An added treat will be the performance of Tchaikovsky's Symphony No. 5. The Plainfield Symphony, New Jersey's oldest community symphony, will perform at the Crescent Avenue Presbyterian Church, located at Watchung Avenue and East 7th Street. The concert begins at 8:00 pm. Tickets are $25 for general seating and $15 for seniors and students. For more information call (908) 561-5140 or email info@plainfieldsymphony.org.
 

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Beavis & Butthead Come to Maplewood, New Jersey - 11/04/08 04:50 AM
Have you ever wonder how TV and film animation come together. Well, wonder no more. November 5, 2008 is your opportunity to meet Rick Parker, animator of Beavis & Butthead. Mr. Parker will provide teens with insights on how to develop animation for cable television and film, as well as the road to a career in animation. The presentation will take place at the Main Library, located at 51 baker Street in Maplewood, commencing at 5:00 pm. for more information call 973-762-1622 ext. 5001 or contact Timur A. Davis tdavis@maplewoodlibrary.org
 
 
 

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Newark, New Jersey's Gallery 744 - A Juried Exhibition - 11/04/08 04:23 AM
The art world has found a haven in Newark, New Jersey and during the month of October Newark has been the venue for numerous opening receptions for new exhibitions. The National Newark Building located at 744 Broad Street, is yet another venue to witness the collection of talent from near and afar Until December 5, 2008. Included in the exhibit entitled Gallery 744 are some thirty artists from Iraq, Holland, Gambia, Italy, New York and Newark to name a few. The exhibit is curated by Yoland Skeete, director of Newark's Sumei Multidisciplinary Art Gallery. The show's guests jurors are internationally acclaimed artists Willie Cole and … (1 comments)

The Red Badge of Courage - 11/01/08 09:26 AM
Stephen Crane is the focus of the new Exhibit in Newark entitled The Red Badge of Courage Revisited, curated by Omar-Lopez-Chahoud. Born in Newark, New Jersey on November 1, 1871, Crane became a noted American writer. His genres included short stories, novels, poetry and journalism. Crane's writings tended toward reflections of everyday reality, depicting symbolism of contemporary life and society during his time.
Published by the time he was sixteen. Crane's novel Red Badge of Courage is herald as one of his greatest achievements. The novel depicts the life of a soldier during the American Civil War and made into a movie directed … (0 comments)

 
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William Collins, Vice President

Scotch Plains, NJ

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FirstService Residential Realty

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