Real estate is the fastest growing auction industry in the United States. At least that’s what the Professional Auctioneers Association is saying. Why is this relevant? Because many believe that as the real estate market continues to slow, auctioning may provide an effective way to make a sale. In an auction scenario, anyone interested in [...]
Jerome Belson Associates will soon sell a portfolio of 4,000 Upper Manhattan apartments. The sale price is estimated to top $1 billion. The buildings which were originally built as part of the Mitchell-Lama program have recently been taken out of the affordable housing program. This subjects the units to market-value rents and greatly increases their [...]
LendersBestBid.com is a new eBay-style online service which will group borrowers together providing bulk-buying power. Using a Dutch/Reverse Auction style, a network of up to 100+ nationwide mortgage lenders will enter into a bidding war to offer consumers cheaper mortgage rates of interest and fees on deals placed for auction. Borrowers are informed of the [...]
Northwest Montana continues to enjoy a ten year long surge in real estate sales and volume. Total sales volume for residential and commerical properties in 2006, topped $1.2 billion, up 12% from 2005. That’s almost triple the value just five years ago. According to figures from the Northwest Montana Association of Realtors, residential sales, accounted [...]
It appears that supply definitely jumped ahead of demand in the Atlanta Metro area. Over the past few years, builders constructed new homes at a frantic rate. It’s true that the Atlanta Regional Commission predicts more than 6 million people will call the area home by 2030, putting the current population at around 5 million, [...]
Home sales in the metro Denver area appear to be improving. Both sales and prices rose in March, compared with February. The number of homes sold increased 38%. However, this was still down 3% from the March 2006. The single- family home median price was $240,000, compared to $235,000 in February. While up month over [...]
In Southwest Florida, local real estate experts share a positive outlook about the local market. However, how quickly it is able to turn around is largely contingent on the sellers’ willingness to reduce prices. One example of a county dealing with over-inflated prices is Lee County. Lee County’s median housing prices rose 120% over five [...]
“Long-Term Perspectives on the Current Boom in Home Prices” by Yale professor Robert J. Shiller looks at over 100 years of data and asks the question many homeowners want to know: what is the short-term and long-term prognosis for real estate values? While his research suggests that homeowners face substantial risk of much lower prices [...]
The Honolulu Board of Realtors recently reported that the median sales price of single-family homes resold on Oahu increased almost $30,000 in March 2007. While it is the highest median sales price for single-family homes in six months at $643,500, it is still lower than the 12-month high of $668,300 in May 2006. For March, [...]
David Wyss, chief economist at Standards & Poort in New York was recently quoted as saying,”That giant ATM you’ve been living in has just shut down. Consumers are in debt and we’ve been living beyond our means for some time.” The comment followed a recent S&P conference call which elluded to the fact that foreclosure [...]