This book contained a grandfather who makes clocks for a living. He has a clock that when he presses it, time stops.
He has a grandson who he lives with and he is constantly being attacked by goblins, who I think are working for someone I can't remember.
The goblins are undergoing hard labor and are trying to get the magic clock so that they can give to their master to stop time.
I read this book in 2009, so it must be at least that old.