VIEWS: 7 PAGES: 2 CATEGORY: Business & Economics POSTED ON: 6/22/2010
The unsafe jewelry bill follows an incident in which 55,000 children's necklaces were recalled due to high levels of toxic cadmium.
renovate one- to four-family homes ing New Jersey residents New Jersey Home Prices and small mixed-use properties. unsolicited checks that 4 Qtr Price Change Small residential and mixed- enroll them in pro- 0% 2009 Q1 2009 Q2 2009 Q3 2009 Q4 use buildings are safer bets in terms grams requiring -2% of the time needed to renovate and payments and Th in sell the properties, said Billy Pro- put restrictions kS toc -4% kP cida, chief executive of Procida on unsafe jew- ho tos -6% Funding. With larger properties, “it’s elry advanced -6.2% harder to predict your investment in the Assembly. -8% -7.4% period and your value proposition.” The mailed check law was ap- -10% The program aims to help “the proved 75-0 on Feb. 25. -10.4% remodeling community pull the Assemblyman -12% -12% housing stock through foreclosures Paul Moriarty -14% and short sales, get it fixed up, and (D-Washing- get it back in the hands of qualified ton) said he Some positive news can be found in the trend of U.S. home prices, which essentially were homeowners,” he said. drafted the bill unchanged in the fourth quarter, recording a 0.1 percent decline. This compares to a 1.21 Under the program, loans have after a constituent percent decline from a year ago. Focusing on New Jersey, there’s even more reason for terms of three months to a year — showed him a check optimism, as home prices ended the year being down over the past four quarters by 6.2 the same loan-to-value as a bank for $8.25 that would en- percent — only half as much where they stood at the start of the year. loan — and are “slightly more ex- roll the person in a roadside Source: Otteau Valuation Group Inc., www.otteau.com pensive,” he said, with the interest assistance program costing $15.99 rate priced according to the asset’s per month. the development rights. Under cur- sored by Assemblyman Erik Peter- investment risk. The unsafe jewelry bill fol- rent law, rights can only be trans- son (R-Flemington). It now goes be- Procida piloted the program last lows an incident in which 55,000 CorreCtions ferred to towns in counties with fore the Senate. – Andrew Kitchenman year, with 16 loans totaling $4 million children’s necklaces were recalled Highlands land. in Bergen, Hudson and Union coun- due to high levels of toxic cad- n Hudson City Savings could face Assemblyman John F. McKeon (D-South Orange) said the transfer Procida launches program ties. It now hopes to do $50 million
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