real estate market: 15% Year to Year Increase in Foreclosures
- 02/18/10 05:40 AM
It was just reported that the number of homes in the US now facing foreclosure jumped 15% in one year and that another wave of debt ridden homeowners could be adding to those numbers in the months ahead. In 2009, approximately 2.8 million households were threatened with foreclosure. This year that number is already expected to rise up to 3.5 million according to RealtyTrac, a leading real estate services firm. Slowing the foreclosure rate is a key step in the recovery of the real estate market. Many foreclosures can be avoided if homeowners take proactive steps to work … (0 comments)
real estate market: As the real estate market continues to dominate the headlines, the question remains, has the market bottomed out?
- 08/11/09 05:58 AM
I was watching a panel debate on this topic last night and one thing became very clear, no one is clear on this answer. Of course, when you have the company leaders of the countries largest real estate firms weighing in, they are almost obligated to put a positive spin on things. Being in the real estate industry myself, I want to believe the worst is behind us. Unfortunately, I do not.
I do believe that there are rational arguments for why one would take either position. Depending on where you live in this country, your exposure and the … (0 comments)
real estate market: Rising Mortgage Rates and the Impact on Sales
- 06/12/09 07:53 AM
As the real estate market in South Florida continues to find the floor in terms of pricing, another nuisance is slowly finding its way into the marketplace ...interest rates!!!! Thankfully mortgage interest rates have been at historic lows for quite some time now. This has been taken for granted and with market turmoil and the huge surplus of available housing, rising interest rates have a direct impact on the ability for many buyers to qualify for the home of there dreams. As a Licensed Auctioneer, we are very fortunate that the vast majority of purchasers pay cash. This in part is … (2 comments)
real estate market: Real Estate Market
- 01/06/09 04:15 AM
AS SO MANY ARTICLES HAVE STATED, WE ARE IN THE MIDST OF ANOTHER DOWNTURN IN SOUTH FLORIDA'S BOOM AND BUST REAL ESTATE MARKET. THE MOST RECENT ARTICLE IN THE DAILY BUSINESS REVIEW MENTIONED THAT THIS IS THE 4TH MARKET DOWNTURN IN 26 YEARS. WHAT IS SO DIFFERENT ABOUT THIS DOWNTURN IS JUST HOW RAPIDLY IT CAME AND THE EXTENT TO WHICH IT CAME TO SUCH A QUICK HALT. IN THE PAST YOU COULD SEE A SLOWDOWN OCCURING AND IT WAS MORE PREDICTABLE. THIS TIME THE BOTTOM JUST DROPPED OUT. IN THE SAME TIME, REAL ESTATE AUCTIONS ARE BOOMING. (NAA Stats.). PLEASE … (1 comments)
real estate market: Overview of Auction Industry
- 08/17/08 12:50 AM
The sale of Real Estate in North America through auction has been for over a Century. The widely accepted definition of a real estate auction is "The sale of real property through a competitive bidding process". In 2007 nearly $270 billion of goods and services were sold using the Auction method with real estate being it's hottest sector, accounting for close $65 billion. With the recognition of the importance of ongoing interest costs and or the loss of return on capital locked up in idle assets, the marketplace has placed increased importance on the time value of money. This fact … (7 comments)
Why Auction? For Developers... In today's ever changing real estate marketplace, Auctions have become an increasingly viable solution to buy and sell real estate. Auctions offer numerous benefits for Developers... For Developers, these benefits can include:Developing a highly proactive sale strategy to move homes/units quickly and for the highest possible price. Creating a spotlight effect on your development motivating buyers to take action. Creating a specific defined timeline for the sale and closing of the homes/units. Selling all homes/units as is with no contingencies. … (0 comments)
It was just reported that the number of homes in the US now facing foreclosure jumped 15% in one year and that another wave of debt ridden homeowners could be adding to those numbers in the months ahead.
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