The usual suspects top the list. Wayne County, Mich., home to Detroit, is first, with 10,622 homes in foreclosure with negative equity, 176 of which have more than $100,000 of negative equity. Clark County, Nev., where you'll find Las Vegas, has 4,278 homes in foreclosure with negative equity and lands at No. 2.
Rounding out the top five are Maricopa County in Arizona, and Riverside and Los Angeles counties in California......" Foreclosures
The usual suspects top the list. Wayne County, Mich., home to Detroit, is first, with 10,622 homes in foreclosure with negative equity, 176 of which have more than $100,000 of negative equity. Clark County, Nev., where you'll find Las Vegas, has 4,278 homes in foreclosure with negative equity and lands at No. 2.
Rounding out the top five are Maricopa County in Arizona, and Riverside and Los Angeles counties in California......" Foreclosures
"Rather, Roost has cultivated partnerships with local MLS’ and brokers’ IDX feeds to provide complete coverage in each market it enters. It reminded me of the approach another of my favorite search tools, [4] Estately.com, has taken.
Unlike Estately however – which only works in Washington State - at launch Roost will be live in 14 markets. These include Atlanta, Baltimore, Boise, Boston, Chicago, Dallas, Houston, Minneapolis, Orange County, Philadelphia, Portland, Sacramento/Modesto, Washington D.C. and San Diego. Chang expects by the end of 2008, they will be in close to 40 markets.
How it works is, in each market, the search results are sponsored by an individual broker (e.g. “Portland listings brought to you by…”). As a consumer, if you want more information on any particular listing, including contact information, all the traffic drives through to that sponsoring broker’s site.
Every market however, can have an unlimited number of sponsors and the sponsors rotate in based on the amount of traffic they have bought." more Future of Real Estate
"Rather, Roost has cultivated partnerships with local MLS’ and brokers’ IDX feeds to provide complete coverage in each market it enters. It reminded me of the approach another of my favorite search tools, [4] Estately.com, has taken.
Unlike Estately however – which only works in Washington State - at launch Roost will be live in 14 markets. These include Atlanta, Baltimore, Boise, Boston, Chicago, Dallas, Houston, Minneapolis, Orange County, Philadelphia, Portland, Sacramento/Modesto, Washington D.C. and San Diego. Chang expects by the end of 2008, they will be in close to 40 markets.
How it works is, in each market, the search results are sponsored by an individual broker (e.g. “Portland listings brought to you by…”). As a consumer, if you want more information on any particular listing, including contact information, all the traffic drives through to that sponsoring broker’s site.
Every market however, can have an unlimited number of sponsors and the sponsors rotate in based on the amount of traffic they have bought." more Future of Real Estate
"Vacancies have risen in 29 markets in the fourth quarter of 2007, including Las Vegas, Palm Beach, Memphis, Orange County, Calif., and Orlando, according to Reis Inc., a New York real-estate research firm. Ron Witten, a Dallas-based housing analyst, estimates there are 760,000 vacant condos and homes for sale nationwide beyond what the market could normally carry, in addition to a surplus of 350,000 vacant rental properties.
Behind the trend are tens of thousands of unsold condominium units that are being dumped on markets such as South Florida, Las Vegas and Phoenix. While thousands of single-family homes also are coming on the market, renters prefer condos to houses, which typically have more expensive upkeep. "Tenants have to pick up more of the bills," says Artur Ciesielski, a Phoenix real-estate agent....." Vacant Homes Increase
"Vacancies have risen in 29 markets in the fourth quarter of 2007, including Las Vegas, Palm Beach, Memphis, Orange County, Calif., and Orlando, according to Reis Inc., a New York real-estate research firm. Ron Witten, a Dallas-based housing analyst, estimates there are 760,000 vacant condos and homes for sale nationwide beyond what the market could normally carry, in addition to a surplus of 350,000 vacant rental properties.
Behind the trend are tens of thousands of unsold condominium units that are being dumped on markets such as South Florida, Las Vegas and Phoenix. While thousands of single-family homes also are coming on the market, renters prefer condos to houses, which typically have more expensive upkeep. "Tenants have to pick up more of the bills," says Artur Ciesielski, a Phoenix real-estate agent....." Vacant Homes Increase
"A new national "risk list" could help guide real estate investors -- not only those looking to scoop up distressed property through short sales or pre-foreclosure deals with lenders -- but those looking for the safest places to stash their real estate dollars.
PMI Group's quarterly risk list, released earlier this week, rates the relative riskiness of owning or buying property in dozens of major markets around the country. PMI, which is one of the largest private mortgage insurance companies, uses the ratings in its own risk underwriting on home loans." from Yahoo Real Estate
"A new national "risk list" could help guide real estate investors -- not only those looking to scoop up distressed property through short sales or pre-foreclosure deals with lenders -- but those looking for the safest places to stash their real estate dollars.
PMI Group's quarterly risk list, released earlier this week, rates the relative riskiness of owning or buying property in dozens of major markets around the country. PMI, which is one of the largest private mortgage insurance companies, uses the ratings in its own risk underwriting on home loans." from Yahoo Real Estate
"The credit crunch that roared through the residential real-estate market is starting to bite commercial projects, too.
Yesterday, Ian Bruce Eichner, the developer of a twin-tower casino resort in the heart of Las Vegas, defaulted on a $760 million loan from Deutsche Bank AG after he failed to get refinancing. The default on the loan supporting the $3 billion Cosmopolitan Resort Casino is a signal of trouble for Mr. Eichner, who gained notice during an earlier real-estate downturn in the early 1990s when he lost several projects in New York City.
Owners and developers of some of the country's choicest properties are having trouble refinancing shorter-term loans they received during the boom days......" Real Estate Journal
"The credit crunch that roared through the residential real-estate market is starting to bite commercial projects, too.
Yesterday, Ian Bruce Eichner, the developer of a twin-tower casino resort in the heart of Las Vegas, defaulted on a $760 million loan from Deutsche Bank AG after he failed to get refinancing. The default on the loan supporting the $3 billion Cosmopolitan Resort Casino is a signal of trouble for Mr. Eichner, who gained notice during an earlier real-estate downturn in the early 1990s when he lost several projects in New York City.
Owners and developers of some of the country's choicest properties are having trouble refinancing shorter-term loans they received during the boom days......" Real Estate Journal
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My 'Other Blogs'
Working by Referral
Musings from California
"It happens oh so often, the customer calls their agent and states, "I need to renew my policy but the home has been vacant for 2+ months as we try to sell." The statement immediately positions the insurance company to non renew the policy...
"It happens oh so often, the customer calls their agent and states, "I need to renew my policy but the home has been vacant for 2+ months as we try to sell." The statement immediately positions the insurance company to non renew the policy...
