Real Estate Weekly News

This week’s Interest Rate (6th Week) (Fairway Asset) 30 Y Rate: 3.450%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.125% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   “SOJO” Spa Club in Edgewater filed the suit against  the town government (The Korea Daily, Korea Times  2/5) SOJO claims that the town approved the new development project 1200 unit apartment complex at 660 River Road...

This week’s Interest Rate (3rd Week) (Fairway Asset) 30 Y Rate: 3.450%/ 15 Year Rate:2.99%/ 10 Y Treasury: 1.651%/  FHA:3.375% Prime Rate:4.75% / Ref IR: 1.50- 1.75%   Englewood Cliffs town will appeal to Bergen County for the pending development (The Korea Daily  1/25) Bergen county ordered to begin the apartment complex development project including 174 low income units at 800 Sylvan...

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,...