real estate market: Credit Challenge Society, lets fix it! - 10/18/10 04:00 PM
Back in March of 2009 I wrote " Credit Challenged Society", with all the foreclosures and shortsales and the like who would be left to buy. It is said that 25% of the houses are in some stage of foreclosure or not being paid as intended. The economy can not get traction with 25% of the people not viable consumers who can borrow.
The mortgage guidelines have to changed to take in account the foreclosures and shortsales that were market driven. I have been getting people who assets have been destroyed in the decline, however they are gainfully employed and have … (4 comments)

real estate market: Home Buyer's Tax Credit Needs To Come Back - 09/28/10 02:44 PM
It seems that the home buyer tax credit had put a bid in the real estate market this past spring. Most markets since have slow down considerably. Yes, it was spring the strongest season and it pulled many buyers out early, but you can feel the difference in the lower end of the market. If the lower end doesn't moved it affects all the ranges. It is estimated, that it cost the federal government 22 Billion dollars for the program. Compared to the trillions spent on the other aspects of the recovery act, this was well spent and helped sell a lot of … (5 comments)

real estate market: The Markets Are Making A Bottom, Believe It or Not! - 03/23/09 02:37 PM
I have been writing about the market for months saying we are bottoming. What we needed was a price and interest rate line to cross, along with plenty of mortgage money. Well, it looks like we are there and past through the bottom, over the winter here. Let's look at why.
1. Many markets like Southern California, Florida, Nevada, Arizona, which amount for the bulk of the foreclosures have dropped over 50% from the highs. In some cases 60%.
2. Markets like Bergen County New Jersey, North Jersey in general and many metro area suburbs have decline less than 20% or … (3 comments)

real estate market: Record News Paper interview on market conditions! - 03/22/09 12:10 PM
The Record, our North Jersey News paper quoted myself and other brokers on market conditions. There front page story, REAL ESTATE SUFFERS WORST YEAR IN DECADES- Where's the bottom? printed Sunday March 22, 2008. The article can be seen in it's entirety electronically at Where's the bottom?

To go further, I think we are bottoming now. Many parts of the country are experiencing higher volume. Bergen County is also picking up. The market will eventually not be anything it seem it would be. That is the way it works!
 Search Real Estate in Bergen County New Jersey
 View my new homes … (5 comments)

real estate market: Zero Funds rate and buying Agency Paper what dose this mean? - 12/16/08 11:33 AM
The Federal Reserve lowering the Funds rate helps everyone. It lowers many home equity loans and business loans which look at the funds rate to set their index rate. It should also lower home mortgage rates although since the crisis started the yield risk spread, availability and willingness to lend effects the rates too.  
Interest rates are coming down. Mortgage rates are coming down for real estate, finally. The Fed buying agency paper from Fannie and Freddie to provide funds to loan for mortgages. Sooner or later it will stick. It takes a bit of time to turn the Queen Mary and … (10 comments)

real estate market: Real Estate markets need lots of money, let's set the record straight! - 12/10/08 02:18 PM
I have been reading many different ideas about the problems in our Real Estate markets.
I think it is important for us all to focus on the solution. The market got overheated and out of line by inappropriate use of capital. The capital has been removed, which as you all can see has not only hurt the market but our whole economy.
 Let us review these facts:
Overbuilding which was accommodated by unqualified purchasers of homes started the problem. Over pricing, by having too much capital in too many hands which was not normally available caused prices to accelerate and rise … (9 comments)

real estate market: I'll be brief and to the point! What are you doing to get ready? - 12/08/08 03:57 PM
This real estate market is waiting for a reason to do something. The reason has arrived in interest rates. Deals are starting in our market and they are all price points. There is a pent up demand and if the financing comes and stays the property is going to sell. We are at a sweet spot where values are coming down to meet the bids. Seasonally we are where sellers give in. If the Fed gives the money Fannie and Freddie to put out at 4.5 % look out. It won't cost the tax payers anything. The Fed can borrow almost … (4 comments)

real estate market: Bravo! I think they got the point!! Fund Mortages for Buyers! - 12/04/08 12:53 PM
On Nov 16th I posted a blog If there is a solution, I think this is it, tell me what you think!
The idea was for the Federal Reserve to borrow at a low rate and lend through their mortgage facilities Fannie and Freddie at a low rate and still make a spread, for people to buy houses. It would be no cost to the tax payer but would get our market going.
To make the critical mass and get everything going, it needs to be across the buying chain and to include jumbo mortgages at a bit higher rate.
My … (6 comments)

real estate market: Fed Pledges $500 Billion for Agency MBS, mortgage rates plummet!!!! - 11/25/08 10:28 AM
It is what I been waiting for the Fed commits it hand. I don't agree this is the right way. I believe they should of funded Fannie and Freddie to loan 4% loans, but hopefully this will work. The issue is that the money that goes into to buy the paper must go back into the lending pool.
Today they posted the 30 year rate under 5%, 4 7/8 and better on 30 year fixed. This will turn most markets, if it holds. Get ready the last time I seen this in November was 1993 and Dec. 1993 was the best … (1 comments)

real estate market: If there is a solution, I think this is it, tell me what you think! - 11/16/08 02:55 PM
Our government is putting money into the banks and institution directly now without commitment or direction, for the funds to flow, if flow at all.
Instead of putting money everywhere in creation and not knowing if it is going to be put to use, I think it should go into subsidizing new home purchases through Fannie and Freddie. If Uncle Sam just buys bad paper it isn't going to help real estate prices move lower and there are more bad mortgages to deal with. The banks they give the money to don't want to give mortgages because they are not sure … (12 comments)

real estate market: Existing Homes sales up 5.5 percent in September. What is it like by you! - 10/24/08 02:31 AM
National homes sales are up 5.5% for September per NAR.  This was the best month change since July 2003, just after the start of the Iraq war. The median sale price however has fallen 9% from a year ago to $191,600. Yesterday's report on new home sales showed a drop of .06 percent which is a somewhat slowing number.
While the stock market tries to find it feet, housing, I feel has got a little stymied over the past few weeks. We see locally in our market, Bergen County New Jersey that people have been a stunned by the financial crisis.

real estate market: Trader's desk signals, Let's look into their eyes again. - 10/22/08 02:15 PM
10/22/08 10 PM
The stock indexes have headed down again as we have figured they would. We are flat Stocks indexes.  Today's 875 range again on the SP futures SPZ08 again bounced. I don't think that is the end of the decline. Another low should come to finish the 5 wave decline. The market my still need another small up "e" wave in a 4th wave triangle. That probably will stay with in 950 range. So we will try again to buy a decline. Break the buy into 3 parts again. The first 1/3 to buy at 850 and the second … (1 comments)

real estate market: Trader's Desk Signals, 100 points in one day in SP Futures trade - 10/17/08 11:13 AM
10/17/2008 PM
Yesterday we bought SP Dec. Future (SPZ08) at 875.  We sold the position for 100 point profit today at 975. The market as I thought was in a 4th wave and topped today at 987.75 Yesterday I said, "I believe this is a 4th wave now and will peak out between here and about 1025 area". (Here meaning 946.50.) Then head back down to above today's low and bounce again. Today's low meaning yesterday's low, Thursday.  We closed today down, at 933.25 . That trade again was over 100% profit on margin!
I will give other trading ideas Sunday … (0 comments)

real estate market: Trader's Desk Signals, Crude hit and SP Hit, up over 70 handles already! - 10/16/08 10:59 AM
10/16/2008 PM
Last night we set up to buy this morning Crude oil near by contract at $73.00 and $68.00, we got the $73.00 and missed the $68.00 by 55cents so far. Lets leave the $68.00 buy in place. Put a sell order in at $80 for this unit.
We also had orders to by the SP Dec. Future (SPZ08) at 875, 835, 800, 3 individual units. We were filled the 875. The market, last I look was trading 946.50 up 76.50 points already. About 80% +gain on margin in less then a day. We will put an order to sell … (1 comments)

real estate market: Trader's Desk Signals, Crude is Bottoming, SP coming into range again. - 10/15/08 03:25 PM
We are flat all markets, however I would break up the crude oil into two units.
One unit to buy at $73.00, the second unit to buy at $68.00 Dec. Contract.
SP stock index future, break buy into 3 units. Buy one unit at 875.00, the second unit at 835.00 and the third unit at 800.00 all basis Dec. Contract.
I am looking for a longer lasting low to come in here. This should be the 5thof the third wave down. We should ultimately get at least a 3 wave rally of dissent proportion when it's over. If we bounce before … (2 comments)

real estate market: Trader's Desk Signals, Crude Oil gets below $75.00 target reached - 10/15/08 01:20 AM
Crude oil hits target! On July 10, 2008 a Sunday night, I said to short Crude Oil at the open on Monday morning, the 11th, with an ultimate target of $75.00 in six months.  Oil Opened at 147.10 and dropped from there. It is just a few days past 3 months and Crude Oil hit $74.975 this morning.  We are now flat, resting waiting for another opportunity. When I decided this the market was in great fear of Crude oil going higher and gas going to $5.00 per gallon. Contrary thinking at pivotal wave structure, set the view of market psychology … (3 comments)

real estate market: Bravo to the Senate, they acted like true Statesman. They want kids to have arrows! - 10/02/08 02:10 AM
Last night, October 1, 2008, the Senate met and voted and acted like true Statesman. Unlike the House who have used this crisis as a wiping post for each other. The idea of conduct, to be bestowing to the office held, should not be lost. However, I have heard that the senate members have added to the bill proposed for this crisis many unrelated ear marks. One is a repeal of an excise tax of $.39 cents per wooded toy arrow imported. Another is a reduction in tariff on Rum imports and a subsidy on Racing. There are many others, which … (8 comments)

real estate market: What really happened to Real Estate? What happens next? Updated - 09/25/08 03:13 AM
Deflating a massive credit expansion are like bombs going off all around. Deleveraging all these institutions is like a crack in a dam that grows and breaks, and the water wipes out the countryside.
If there was an easy way to describe the situation I would say it is something like this. The market, with low rates and full of liquidity (cash), needed to find a way to make a profit with it. So they leveraged it to the maximum amount. The idea was to create a profit with the least amount of equity. This drifted right down the eco scale and … (3 comments)

real estate market: FBI on Wall Street! Where have they been? - 09/23/08 03:43 PM
The FBI is now investigating the major Wall Street firms, to see if fraud was involved in the handling of their businesses in mortgage back securities, real estate and related matters. This is what we all knew was coming. I hope that the powers to be in the federal government can solve the mess we are in to get back our markets. Restitution, if and when wrong doing is found should accompany the prosecution of wrong doers.
Congress needs to stay the course and get this bailout over. It is being said by many that if they prop up this market … (1 comments)

real estate market: They sent in the Calvary, and we are all riding a horse. - 09/19/08 01:25 AM
Our financial markets are being rescued by our federal government.
Of course, I LOVE IT! We needed this panic to stop. However, although there is no choice and we must do everything possible to put the system back together, the cowboys were out of control.  The greed and irresponsible actions of these institutions to look away from risk and only care about fees and profits was criminal. This is strong but we must realize they ruined  lot of people's lives. We the tax payers are footing the bill for the poor judgment of the Banks, Wall Street and others who created a … (5 comments)

Richard Stabile, Bergen County New Homes Builder Realtor (Re/Max Real Estate Limited) Rainmaker large

Richard Stabile

Bergen County New Homes Builder Realtor

Oradell, NJ

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