Real estate for dummies by Real Estate MAX

I have come to realize what it is that I love about comparison shopping sites. It’s not just the fact you get to compare a huge selection of products but also the variety of items you can purchase from one location. As an example just recently on Become.com I was able to pick up a condensate pump for the house and a black and white comforter for the spare bedroom plus a garden hose holder fr the garage all without ever leaving the living room!

How cool is that? Sure people have been shopping online for years now but it’s really come to a point now where shopping online is more fun that shopping offline and the deals to be had on a large variety of name brand products is absolutely amazing. Websites like Become.com are making it more affordable, easier and now even more fun to shop online and I think that’s just great. Who needs some of these large warehouse retails stores with junk products stacked to the roof when you can sit at home on the computer and buy just about everything you need?

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Bankruptcy Homes and Other Residential Property Sales Up in Richmond

Sales of foreclosed and bankruptcy homes and regular dwellings surged in the west side area of Richmond, Virginia in February 2011. According to realtors, the housing market of the area, along with the adjacent west side of Vancouver, has become a seller's market as demand for residential properties continues to increase rapidly at the start of the current year.

Reports from the Fraser Valley Real Estate Board and the Real Estate Board of Greater Vancouver (REBGV) showed that demand for non-foreclosed and distressed homes in Richmond and in Vancouver has risen in the past few months, with detached dwellings becoming the hottest commodity in the areas' housing industry. Data from the REBGV revealed that for February, the region posted housing sales total of 3,097, higher than the monthly average of 2,742 recorded in the past 10 years.

Despite the competition posed by low-priced distressed homes in Virginia, house prices in the west side part of Richmond posted an increase in February. Statistics from REBGV showed that between November of last year and February 2011, the price of a detached house in Richmond has risen by $190,739 to reach over $1.09 million. In the west side of Vancouver on the other hand, the price of a detached residence has reached more than $1.8 million, up by $222,185 over the same period.

Realtors also reported that majority of buyers of bankruptcy homes and regular dwellings in the two areas were foreign investors and homebuyers. A report from Fraser Valley showed that detached houses in the region had a benchmark price of a little over $514,000 in February of this year, up by 1.2% compared with February 2010 when the price was at $508,000.

According to housing market observers, sales are likely to continue to be high in both markets for the rest of the year. Although lists of fixer upper homes and supply of foreclosed houses are expected to increase this year in Richmond and in the rest of the U.S., analysts are optimistic that the metro area's housing price will remain strong and sales will continue to outpace the rest of Virginia.

More bankruptcy homes and regular houses are projected to be purchased by investors and homebuyers this year in the west side of Richmond as the national economy continues to improve and the job market attains some stability. The metro area is also being hailed as one of the top housing markets in the U.S. in terms of potential for growth in 2011.

Bankruptcy Homes and Other Residential Property Sales Up in Richmond is a post from DistressedPropertiesSale.com – Your online source for distressed property for sale.

Bankruptcy Homes and Other Residential Property Sales Up in Richmond was verified at Distressed Properties Sale Articles while researching Real Estate and provided for by Free Moving Company Quotes

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Commercial Foreclosed Properties Fail to Hinder Luxury Market

Residential and commercial foreclosed properties have often been blamed for the decline in property prices and values, particularly in hard hit areas like California. However, 2010 fourth quarter data showed that the luxury home market of San Francisco and several other local areas were able to take on the challenge posed by cheap foreclosures as prices in the luxury category increased during the period.

Prices of luxury dwellings jumped during the period October-December 2010 despite the many lower-priced houses offered at foreclosure auctions in San Francisco. Compared with the 2010 third quarter, prices of higher-end houses increased by 1.6% in the metro area and also recorded a 3.6% rise when compared with the 2009 fourth quarter. During the last quarter of 2010, the average selling rate for a luxury house in San Francisco was around $2.6 million.

Although California foreclosure auctions remained at elevated levels last year, several other local areas in the state posted improved selling prices for luxury residences. In Los Angeles, prices for high end houses jumped by 0.6% in the 2010 fourth quarter compared with the previous three-month period. However, the 2010 fourth quarter average price of $1.97 million was actually lower by 2.2% than the average rate recorded in the same 2009 quarter.

Since California has some of the nation's highest numbers of residential and commercial foreclosed properties, people expect prices to decline in almost all categories, particularly in the luxury segment. However, this is untrue in San Francisco, Los Angeles and even in San Diego where prices of high end homes have been rising. San Diego luxury residential prices were up in the fourth quarter by 0.8% compared with the previous quarter. Compared with one year ago, the increase was 0.6%.

Housing industry analysts stated that more people still buy foreclosure auction homes in the region, but the low interest rates and the growing consumer confidence have convinced buyers of more expensive homes to take the plunge. They also cited the rise in the stock market as another factor since majority of luxury home buyers have their wealth invested in stocks.

Commercial foreclosed properties and distressed homes are expected to rise further in California in 2011. However, luxury home sellers are confident that the segment will be able to keep up, given its strong performance amid the foreclosure crisis. The last time prices of luxury houses increased in the three California markets was in the 2007 second quarter.

Commercial Foreclosed Properties Fail to Hinder Luxury Market is a post from Foreclosure-Auction.net – Your online source for foreclosure property auctions.

Commercial Foreclosed Properties Fail to Hinder Luxury Market was verified at Home Auctions Blog while researching Real Estate and provided for by Free Moving Company Quotes

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