Bigger Multifamily Properties Hit the Block
It seems default is creeping out of the residential sector and we’re seeing it in some larger multis. This month we are quarterbacking the sale of 20 units in a bankruptcy auction in Cambridge Massachusetts. This is a Tranzon Auction Properties Deal (you might know I represent Tranzon in southern New England).I also saw that [...]
More Banks May HAVE to Sell at Foreclosure
It is the norm for big banks foreclosing in Massachusetts to use the process simply as a title clearing procedure. The way it works is that there is minimal marketing and the bid process involves the foreclosing attorney “bidding the debt” or bidding the full amount that the bank has into the property. Very often [...]
Massachusetts Residential Market Takes a Beating
The Warren Group reported today that Massachusetts housing prices worsened and both sales and values declined substantially again in March (08).
single-family homes in Massachusetts fell more than 10 percent in March, the second-steepest price drop since The Warren Group began recording prices in 1987. The last time prices declined by more than 10 percent was [...]
Another Bank Owned Property Auction Comes to Town
Hudson and Marshall is a well known REO ballroom sale type of auction company. They are advertising an REO property auction in the Boston area but they’re not yet posting any property details. Hudson and Marshall is a well known firm with some rather large bank clients. As I find out more info I’ll post [...]
How Real Estate Auction Marketing Works
Imagine you have a beach ball and you are in the water. If you take that ball and force it under water what will it do? It will pop up and sit on top of the water. What happens if you push it further down? It pops up further, bursting right out of the water, [...]
Foreclosures Offer Squeaky Clean Title
I’ve been getting the question about clean title a lot lately while I’ve been showing the Charles Ridge project. People say to me “well jeez, how is anyone going to buy this with all those liens behind the mortgage?”. That is just the point of foreclosure, it offers a collection remedy for the mortgagee and [...]
5 Reasons Why 2008 Will be the Year of the Auction
I’m just getting back from the national Tranzon meeting and I think the one thing we all agree on is that all signs point towards a strong 2008 for the auction business.
With continued skittishness on the part of the lending community and general uncertainty throughout the real estate industry sellers are going to be looking [...]
