Are real estate agents still useful?

December 18, 2008
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

The growing popularity of the Internet has made information more accessible to people from all walks of life.  Thus, looking for real estate for sale whether for residential or commercial purpose is fairly easy even without the help of a real estate agent or broker.

Research shows that 32% of real estate buyers this year used the Internet to seek information on the property which they ultimately purchased. So did the Internet made real estate agents and brokers a thing of the past?

Real estate brokers and agents disagree.  While the Internet offers an efficient method by which buyers can find homes and other properties, you still need real estate brokers and…

Boston’s Hancock Tower losing tenants

December 18, 2008
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5 out of 5)
Loading ... Loading ...

Even the iconic Boston City Hancock Towers has not been spared from the real estate woes bugging the nation.  The Hancock Towers is the latest casualty of an economic slump which forced most of its tenants to vacate their offices in exchange for more affordable facilities.

During these times, companies including the locators of Hancock Towers find it more practical and cost efficient to locate in more modest locations.  It is also during these times when most landlords reduce their rents to fill in vacant spaces.
This recent happening is ironic considering the city’s bid to encourage high-end construction.

The decrease in the number of tenants plus the lowering of office space rents…

Illinois Gov’s wife face raps for real estate misdeals

December 17, 2008
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Illinois Governor Rod Blagojevich is now in hot water not only for his nefarious dealings for which he was recently arrested but also for the real estate dealings of his wife Patricia which were allegedly closed using his influence. Authorities were already investigating the couple for their real estate deals as early as 2007.  Patricia was reported to have made a killing in her real estate deals to state contractors, fundraisers and political supporters.

Patricia, who was also accused of helping the Governor in getting the highest bidder for the US Senate seat vacated by President-elect Barack Obama, switched careers earlier this year amidst the on-going federal investigation. She was caught…

Government interference worsening foreclosure problems

December 17, 2008
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

The government’s effort to delay foreclosure proceedings is only making the problem worse than it already is.  This is usually what happens when government interferes with business matters because businesses tend to add such intervention in their costs.

Too much restrictions is hurting the homeowners even more because lenders stay away from states with very stringent laws limiting the lending options for borrowers.

This was proven true when Massachusetts governor Deval Patrick intervened and stopped foreclosure proceedings for 90 days only to get skyrocketing foreclosure figures of up to 465% in the end.  Laws now require lenders to delay the issuance of a notice of default until they have given the borrower…

Orange County home foreclosures up by 74%

December 17, 2008
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

The 633 home foreclosed in Orange County last month is a 74% increase compared to only 364 homes foreclosed in November 2007.  Last month’s foreclosures are however considered a 14% reduction compared to the number of OC homes foreclosed in October.

The issuance of the notice of default was noticeably lower in September this year after banks were required by a state law to avoid foreclosures without first talking to the borrowers or homeowners at least 30 days before they file the notice of default.

A total of 1,205 homeowners however received notices of default in November which is an increase of 30% compared to the number of homeowners with default notices…

T-Boz Of Rap Group TLC Losing Atlanta Home to Foreclosure

December 2, 2008
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

It looks like the Atlanta Rap Star, T-Boz of the 90’s girls group TLC, is losing her home to foreclosure. The home which is valued at 1.5 million is being foreclosed over a 530,000 dollar loan.

These rough economic times are hard for all I guess. She joins Evander Holyfield as famous Atlantan’s to face foreclosure. One huge difference is that in Atlanta a million dollar plus home is huge, while on the coasts they are much smaller so the expenses are much higher on the Atlanta homes.

It is knows now that the five-bedroom, nearly 10,000-sq. ft. house owned by T-Boz (real name: Tionne Watkins-Rolison) is about to go on the…