Economics

More and more foreclosures

February 3, 2009
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RealtyTrac, the California-based expert on foreclosure listings, counted 3.1 million foreclosure filings during 2008. The new results represented a 81 percent increase from December 2007 to December 2008.
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The next few months could be tough

January 27, 2009
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The reality is that the next few months are going to be tough for the national economy, unemployment and the real estate industry. If you attended Dr. Austin Jaffe’s seminar at Monday’s PAR Business Meetings you have probably figured that out.
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Taking a look back

January 19, 2009
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Not too long ago REALTORS® enjoyed an extended period of professional growth and prosperity. Money was freely available and nearly everyone “qualified” for a mortgage loan.
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Appraisers concerned over new HVCC

January 14, 2009
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Imagine if all real estate transactions had to be referred to you by a company that pays less than half of your typical commission and requires the house to be sold in 48 hours. You may like the steady work or you may not like your paycheck being cut in half.
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Global real estate update

January 9, 2009
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I attended a session at Inman this week where global market expers from Canada, Germany, France, the Netherlands, Russia and Spain spoke about the state of their real estate markets.
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Multiple offers? Now?

January 7, 2009
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“Why is NAR worried about changing the rules for multiple offers? Nobody sees multiple offers in a market like this one.”
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How much money is needed to turn the housing market around?

December 16, 2008
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A billion dollars here, a billion there…pretty soon you’re talking about real money.– attributed to U.S. Sen. Everett Dirksen When the federal Hope for Homeowners program was signed into law last July, Americans were told that as many as 400,000 distressed homeowners would be helped by stemming the tide of foreclosures throughout the country....
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Does the market penalize overpriced listings?

December 9, 2008
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Most brokers intuitively understand that overpriced listings don’t result in higher prices for sellers. In fact, setting a high asking price might have unintended consequences: a longer time on the market that might lead to longer listing agreements.
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Is it a good time to buy a house?

December 2, 2008
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That’s the $64,000 question. Even when market fundamentals look bleak, some REALTORS® argue that anytime is the right time to buy a house. Others are more cautious, telling consumers it depends on their individual circumstances. But this is always true, isn’t it? And it doesn’t tell us much more than we knew before we...
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