What are your thoughts on Foreclosure?
According to RealtyTrac, foreclosures are increasing in the top 100 metropolitan areas for the third quarter. Stockton, California had the greatest increase foreclosures, 32% rise from the last quarter. Other areas with an increase in foreclosures include Detroit, Riverside-San Bernadino, California , Fort Lauderdale, Las Vegas, Sacramento, Cleveland, Miami, Bakersfield and Oakland. “When foreclosure can’t be avoided, the losses extend beyond the borrower losing a home. The foreclosure process typically costs lenders added legal fees, taxes due until the property is sold and lost equity in a house that must be priced to sell in a falling market. The added inventory of unsold homes further weakens local housing markets, depressing the value of other nearby homes.”
:: Do you agree with NAR’s assessment that Technology is behind the growing numbers of REALTORS?
Here is an excerpt of the articles and link to review. Post back with your comments and thoughts:
Excerpt:
The membership of the National Association of REALTORS® has grown steadily over the years, although it has taken some hits every so often in the face of economic recessions. But for the most part, NAR membership has grown in defiance of economic and housing market conditions.
The “smoking gun” behind the boom in REALTORS®, at least according to PoliticalCalculations.com, is technology. “Our working theory is that technological innovation, first in the form of the computerized MLS and later through improved access to information through computerized database and Internet technologies, lowered the barriers and costs of entry to larger numbers of real estate agents, above and beyond what would be expected if only the health of the U.S. housing market and economy is taken into consideration,” says PoliticalCalculations’ April 9 entry.
What do you think?
