Len Sher’s Blog on Real Estate

Foreclosure Sales Jump by 21 Percent

Discovery Bay, CA, November 12, 2009 - ForeclosureRadar (www.foreclosureradar.com), the only website that tracks every California foreclosure and provides daily auction updates, issued its monthly California Foreclosure Report for October 2009. After 3 months of consecutive declines the number of foreclosure sales taken back by banks rose by 22.24 percent from September and 20.95 percent from October 2008. Despite these dramatic increases, the number of foreclosures taken back by banks remains 42.56 percent below the peak reached in July 2008, from which time the inventory of scheduled foreclosures has grown by 131.36 percent.

See Foreclosure Radar on the Blogroll to the right for Foreclosure searches.

As more and more consumers begin their search for real estate-related information on the Internet, it is critical that real estate professionals stay on top of the latest technology for the benefit of consumers and real estate practitioners alike. The e-PRO® Technology Certification Program fills that need.

Realizing the importance of technology training, the National Association of REALTORS® (NAR) created a comprehensive Technology Certification course in 2000. And now that course, e-PRO®, has been completely updated to include information on Social Media and Web 2.0 aspects that is, and will continue, to change the real estate business.

“The real estate industry has undergone a fundamental change over the past five years,” Len Sher said. “Today, more than 85% of all buyers and sellers begin their search online. As an e-PRO® certified agent, I have knowledge and tools needed to provide my clients with the information they need and the customer service they demand. It’s both hi-tech and hi-touch.”

The all new e-PRO® certification course — the only technology certification program offered by NAR — is designed to prepare real estate professionals to make the most of Internet technology and to identify, evaluate, and implement new Internet business models. The elite group of course graduates represents only four percent of all REALTORS® in the country including Len Sher of Tarbell, Realtors.

The e-PRO® certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.

The exclusive e-PRO® certification course is presented entirely online and certifies real estate agents and brokers as Internet professionals. The course is designed to help REALTORS® stay at the leading edge of technology and identify, evaluate and implement new Internet business models.

Once completed, the e-PRO® certified real estate professional joins the ranks of a special community of highly skilled and continuously trained professionals who provide high quality and innovative online-based real estate services. Consumers can identify the e-PRO® through the exclusive e-PRO® Internet Professional logo.

Both the content and the delivery platform were created by the San Diego-based technology company InternetCrusade®. Graduates use the skills they’ve acquired to provide clients information on properties for sale, local communities, and the local real estate market.

For more information,visit http://www.lensher.com or e-mail Len Sher at LenSher@LenSher.com

The Orange County Register reports that the median price for O. C. Homes hit $418,000 in June, the highest level since October, 2008. But there is no real price appreciation going on. In some upper price segments there appears to be a stand-off between buyers and sellers. Looking at sales by price, home sales below $400,000 have increased by 125.4% from 2008 whereas home sales above $700,000 have decreased by 25% in the same period.

For homes in the lower price points of the market, banks are listing properties below market value to entice multiple offers. And the multiple offers are coming in above the listing prices in many cases. Buyers and sellers really need to research and know their values and projected values to effectively buy and sell in this market.

This is not a smoothly operating market and it is one that requires expert guidance from well qualified Realtors.

That is pretty remarkable given that most of the market is operating below $700,000. So, in January the median price was $370,000 and in February $375,000. One DataQuick analyst is quoted in the OC Register observing that it is not likely that the median will go below January.

Inventory is still likely to increase though with the continuing onslaught of foreclosures and notices of default. It is still a great time to buy.

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