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Main » 2013 » July » 27 » Real Estate Information Melt Down by Karrie Rose
10:23 AM Real Estate Information Melt Down by Karrie Rose |
| Real Estate Information Melt Down by Karrie Rose Trawling the internet for real
estate news, one could be forgiven for getting a little confused by the sheer
volume of contrasting commentary. For example, I recently came across an
authoritative article, which informed me that the number of foreclosures was
still climbing, and property sales were still falling in the US. Well, there was
no big surprise there. Reading this piece, I learnt that poor old Las Vegas
continues to reign as the foreclosure capital of the country. I also discovered
that Texas, with a huge 35% rise during February 2010, claimed the top spot for
the state with the biggest increase in the number of property foreclosures. This
second statistic was the one that really caught my eye, as I had only just
finished reading another article, published in the Washington Post, under the
headline 'How Texas escaped the real estate crisis'. So how can one article
claim that Texas has Charlotte Olympia the
unfortunate distinction of being the state with the highest increase in
foreclosures, while another simultaneously hails it as a beacon of success? The
significant thing here is that a 35% increase, in a comparatively small number,
can result in a relatively minor increase in actual inventory. So, if there were
only 4 houses in foreclosure in the whole of Texas, and suddenly another 4
houses appeared on that market, that would be a 100% increase - but it is still
only 8 houses in total. On the other hand, a seemingly insignificant 10%
increase in a market with 1000 foreclosed homes would, in reality, see a further
100 properties added to the inventory. As it happens, it would appear that fewer
post by haiyan701 than 6% of Texas mortgage borrowers are in, or approaching,
foreclosure. The national average is close to 10%. Nonetheless, a gain is still
a gain, and 35% is no small figure. According to ForeclosureListings.com, that
increase resulted in Texas experiencing the highest monthly gain in the US in
February. In March, however, it had fallen back again, and Florida had the
dubious honor Charlotte
Olympia Birthday Sagittarius Zodiac Suede Smoking Slipper In Mustard of
experiencing the highest percentage of foreclosure listings. In essence, figures
can be misleading, and are capable of being manipulated to strengthen, or
weaken, any argument or point. Whichever way one looks at this, it's pretty grim
news. But it is worth considering that any news, good or bad, can be presented
in such a way as to make things sound way better, or indeed worse, than is the
case. With this in mind, it is essential that anyone considering buying or
selling a house in the current economic climate, should make a point of
researching the local market thoroughly. It can be a difficult task, deciphering
the reality from the fanciful. Any single news item, piece of real estate agent
advice, or wise family member's opinion, may well provide a valuable appraisal
of the situation. But only a wide range of expert opinions, and amateur
predictions, will allow you to look at the bigger picture and, hopefully, act
accordingly.
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