Real Estate Weekly News

This week’s Interest Rate (3rd Week) (Fairway Asset) 30 Y Rate: 3.625%/ 15 Year Rate:3.25%/ 10 Y Treasury: 1.769%/  FHA:3.375% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Korean owned Foreclosure in NJ slows down (The Korea Times  1/16) According to Bergen County sheriff department, 27 foreclosures owned by Korean among 313 foreclosures as 1/10/2020, which is 8.6% owned by Korean, while it...

This week’s Interest Rate (2nd Week) (Time Mortgage) 30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.811%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Parking meters in Palisades Park, NJ will be replaced after 5 years of operation (The Korea Times 1/4/2020) Since there are accumulated problems for 5 years which is contract period with MPS, the town has decided to replace the parking...

This week’s Interest Rate (1st week) (Time Mortgage)  30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.811%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Parking meters in Palisades Park, NJ will be replaced after 5 years of operation (The Korea Times 1/4/2020) Since there are accumulated problems for 5 years which is contract period with MPS, the town has decided to replace the...

This week’s Interest Rate (51st Week) (Fair Asset Corp.)    30 Y Rate: 3.625%/ 15 Year Rate:3.25%/ 10 Y Treasury: 1.889%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Edgewater (NJ) construction shakes nearby homes like “Earthquake” (The  Record  12/18) 15 story new apartment, to be called as “Kray Plaza” is being built at 1000 Portside Dr., Edgewater nearby rental complex...

This week’s Interest Rate (50th Week) 30 Y Rate: 3.750%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.831%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Leonia school uses dehydrator to cut food waste (The  Record  12/11) Anna C Scott Elementary School will reduce food waste volume and weight by 80 to 90 percent by using a food dehydrator.  The Leonia Green Team, a group of parents and school...

This week’s Interest Rate (47th Week)  30 Y Rate: 3.620%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.745%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   The highest  home priced Zip code area is 94027 (Atherton, CA) in US (The Korea Time  11/30) According to the Property Shark, the highest home priced zip code area is Atherton in Sam Mateo county, CA, where the median price is $7,050,000.  They...

This week’s Interest Rate (47th Week) 30 Y Rate: 3.620%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.745%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Toys R Us is back in Northern New Jersey (The  Record  11/27) The beloved brand is opening first new US retail store since liquidation in Garden State Plaza on Wednesday(11/27), right before Thanksgiving Day. The new store, a highly experiential...

This week’s Interest Rate (45th Week) 30 Y Rate: 3.750%/ 15 Year Rate:3.150%/ 10 Y Treasury: 1.786%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   SamSung has opted to keep its North American HQ in Ridgefield Park (The  Costar  11/18) SamSung signed up with Landlord KABR Group for currently occupied 235,000 sf at 85 Challenger Rd, Ridgefield Park.  When SamSung moved in this building in 2010,...

This week’s Interest Rate (45th week)  30 Y Rate: 3.750%/ 15 Year Rate:3.250%/ 10 Y Treasury: 1.917%/  Prime Rate:4.75% Ref IR: 1.50- 1.75%   Major redevelopment plan for school district was rejected in Palisades Park, NJ (The Korea Times  11/7) On 11/5/2019 residents vote revealed that residents in Palisades park do not want major redevelopment plan for school district. (311 For and 819...

This week’s Interest Rate (44th Week) 30 Y Rate: 3.750%/ 15 Year Rate: 3.25%/ 10 Y Treasury: 1.864%/  Prime Rate: 4.75% Ref IR: 1.50- 1.75%   Edison, NJ introduced the program to convert own house to public rental house ( The Korea Times 11/4) Through M2A (Market to Affordable Rental Program), individually owned house can be a public rental house for 30 years.  In return, home owner...