Foreclosure Crisis Slowing Sales

The foreclosure mess is making it harder for banks to sell properties. ForeclosureRadar, which tracks foreclosures in five Western states, says the number of properties coming to auction in Arizona, California, and Nevada has declined by more than 30 percent.

Investors are backing away from sales because they fear that the properties they buy will be tied up in an investigation, says Sean O’Toole, CEO of Foreclosure Radar.

O’Toole believes the problem is short-lived and ultimately will be settled in favor of the banks. “The fear that has been created in based more in hype than in law,” he says.

Source: CNNMoney.com, Les Christie (11/29/2010)

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Real Estate Investors Optimistic

Real estate investors worldwide are convinced the market is at or near bottom and about to shoot up, according the Colliers International’s first survey of global investor sentiment.

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Investors from Asia, Canada, Latin America, and Western European say financing is increasingly available, while investors in the Middle East and Eastern Europe make the opposite observation.

While there was considerable disagreement about what “normal” is, the majority of respondents say their respective markets will return to “normal” within 18 months.

Globally, rents are anticipated to hit bottom this year – the first quarter of 2010 for the office sector was the most frequently offered response, followed by the second quarter of 2010 for industrial, and the third or fourth quarter of 2010 for retail.

Source: Colliers International (04/14/2010)

  • Julie Nesbitt

    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROAD McLean, VA 22101 6 Bedrooms 5.5 Bathrooms 6,752 SF $1,695,000

    Read More

  • [FWD: The Empire Strikes Back Pictures]

    We played a game at the office this Sunday. Lots of fun. Sincerely, Will Nesbitt Principal Broker   Nesbitt RealtyAlexandria VA licensed in the Commonwealth of Virginia and the State of Maryland 703 765 0300 (main) 571 237 7902 (direct)888 783 6391 (fax) ——– Original Message ——– Subject: The Empire Strikes Back Pictures From: [email protected]

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