Worst may be over for Atlantic City casinos as competition starts to flatten out

Posted: Sunday, January 13, 2013 By HOA NGUYEN Staff Writer At the start of 2006, 15 casinos were within about 600 miles of Atlantic City. Today, that number has nearly tripled to 39 casinos, including six that opened in 2012. The crowded scene directly affected Atlantic City, which previously had seen gambling revenue grow consistently year-over-year. But in 2006, at the…

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Why Do Renters Want to Buy NOW?

Author: Daniel Torelli January 11, 2013 In a recent survey of renters who hope to someday buy a home, more than half expressed their desire to purchase sooner rather than later. According to a survey by the PulteGroup, 60% of renters surveyed say they hope to buy a home within the next two years (506 adults total were surveyed in March…

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CRDA to study developing an indoor marketplace in Atlantic City

Posted: Sunday, December 2, 2012   By JENNIFER BOGDAN Staff Writer An indoor marketplace resembling Philadelphia’s Reading Terminal Market could be among the next projects undertaken by the Casino Reinvestment Development Authority. In September, the authority took steps toward spending $100,000 on a feasibility study to determine whether the project would be a good fit inAtlantic City. That study is moving…

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Most storm-damaged properties are second homes, creating a dilemma for owners and governments

Posted: Sunday, December 2, 2012 By LEE PROCIDA Staff Writer HurricaneSandy’s impact on the New Jersey shore line was felt far from the coast in a number of ways, but mainly because most people who own property by the ocean live somewhere else. An analysis of tax records by The Press of Atlantic City shows the majority of residential properties in…

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Historically Low Mortgage Rates Hit Atlantic City Area

Financing Options Rate Points Annual Percentage Rate 30 Yr Fixed Conforming 3.125% 0 3.15% 30 Yr Fixed JUMBO                                **loan amounts from $417,001 to $2,000,000** 3.990% 0 4.02% 15 Yr Fixed Conforming 2.500% 0 2.546% 5/1 ARM Conforming 2.125 0 2.836% **ARM Product listed is Fixed for the first 60 Months** Gina Tubertini Loefflad VP, Regional Residential Loan Sales Manager Cell:…

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Real estate slump makes Atlantic City beachfront homes more affordable

Posted: Sunday, August 26, 2012 By KEVIN POST, Business Editor The bottom of this real estate cycle, which went deeper than anyone expected, has produced something else surprising: beach-town bargains and charleston homes for sale. Properties on or near the ocean typically hold their value better in a downturn because their supply is limited.But this time, even some island properties are distressed,…

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Homebuyer Enthusiasm Slips; Growing Sense that the Market Is Shifting Toward Sellers

AUGUST 29, 2012 So is it a bad thing or a good thing that the property managers and buyers are sensing that the market is shifting towards the sellers? I think that with the low interest rates the buyers are still going to get great deals and maybe get off the fence sooner than wait around thinking if the prices…

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Revel Struggles as Summer Season Dwindles

From this observer the problems with The Revel is that they thought the players would all run over from whereever they were playing without getting comps. The management starting this summer soliciting gamblers. On a different note many tourists saw the prices of the food and beverages at the casino and either stayed away or never came back. I hope…

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Mortgage Rates Continue Record-Breaking Streak

Daily Real Estate News | Friday, July 27, 2012 The 30-year fixed-rate mortgage -- the most popular choice among home buyers -- is now a full percentage point lower than a year ago, Freddie Mac reports in its weekly mortgage market survey. Fixed-rate mortgages have been on a record-breaking streak the last few weeks, pushing home affordability even higher. "Market…

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Condo Boards Take a Stand on Delinquencies

By JULIE SATOW Published: June 22, 2012 A SUCCESSFUL condominium depends, in large part, on owners’ paying their monthly fees promptly and in full. Delinquencies can mean less money for maintenance and amenities — and draw the ill will of fellow residents. While the sheer size of larger buildings can often blunt their impact on the budget, small buildings with…

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