New York City, the plushest state in the US, has once again made the headlines; and this one’s no different than the previous ones.

Homes were 28% more expensive than the earlier reports and the results? Sales plummeted to about 22%. Unbelievably, the typical price of houses in Manhattan sky rockets to $1.6 million and obviously, the average Joe can’t afford it. More so with co-ops and condominiums as they rose to about 96% with the average cost being $2.1 million.

New Yorkers both have mixed emotions about it. They wouldn’t know if they should feel happy that the market value of their houses are increasing per annum, or quite worried as to how will it be in the future.

Photo taken from http://propertysmarty.com

Ironically, the state that focuses on gambling as its main tourist attraction is the state that currently has the largest number of foreclosed properties in the past month all over the United States. RealtyTrac said that in every 139 houses, 1 house is either listed as foreclosed or is in the process of being foreclosed. Looking under the lenses of macro statistics, it shows that the foreclosure rate of houses in the United States was up by 5% from February to March. But apart from Nevada, states like Georgia, Ohio, Massachusetts, Michigan and Maryland seem to follow the same trend.

Photo taken from http://www.lisavasa.com

In this world, all you need is creativity and determination. This saying is applicable indeed to Chase Nation, one of the premier agency companies in the real estate world.

So what is up with Chase Nation? Recently, Chase Nation took advantage of the internet in a whole lot manner: they joined a popular social networking site called MySpace. Yes, the ever-growing and ever-popular MySpace. MySpace claims that they have over a hundred million users and Chase Nation thought that they might as well capitalize on that user count. Chase Nation said that the reason why they signed up on MySpace was for the agent to easily hook up with users (the interested parties I guess).

Photo taken from http://chasenation.ning.com

There has been a sudden growth of online real estate websites on the internet during the past years. Since then, official websites of realty agencies serve as mini portals to house seekers who wish to do their enquiries online. However, there are certain circumstances wherein third party websites are more popular than the official ones.

This is what exactly happened in Minneapolis. The solution of the official website realtors? Simple. They plan to disseminate their listings on the different popular real estate website picks such as Zillow. Zillow allows live tracking and feeding of news information & postings to the different respective subscribers. With this, Minneapolis realtors hope to reach more buyers and in effect, boost their sales.

Photo taken from http://inventorspot.com

Since real estate market in Florida is plummeting, houses in some areas are in for a bargain. This probably is music to the ears to those who are planning to relocate to some place in the South, but you have to take note first why this phenomenon is happening.

If something in the market plummets, then that means it’s failing. If you pass by Palm Beach, you’ll probably see a lot of leased houses or apartments along the way, but before you take the too-good-to-be-true deal, make sure you do some little investigation. Ask the owner why he or she is leasing the place. You might want to know too why the owner is leasing the house/apartment for a low-priced bargain. Who knows? Maybe the owner has a bad credit rating or worse, the house is set to be foreclosed that’s why it’s for rent.

Photo taken from http://www.floridahomeloan.com

by: Christine Zafra

South Florida is having a crisis: the prices of houses are dropping and a lot of homes are being foreclosed by banks due to non-payment of mortgage. Many families have already suffered and will continuously suffer if this trend will persist. And if foreclosed houses are aggregated, the real estate market value of South Florida will soon find itself in great jeopardy.

The Congress however, has an idea: to deduct a $7,000.00 tax credit for those who will buy properties that are foreclosed. Although they weren’t really able to target the cause of the problem (existing foreclosures), they hoped that through this measure, a lot of prospective buyers will be encourage to acquire foreclosed properties.

Photo taken from http://www.lossmitigationopportunities.com