In the counties of Union, Snyder, Northumberland and Montour, sales of homes recorded a total of 1,037 in 2010 which is 38 more than the total number of sales posted in 2009. Realtors have reported that during the months of November and December, when housing sales usually dip, local agencies have experienced higher levels of activities, with buyers keen to take advantage of the low prices of properties in the areas.

Realtors stated that homebuyers in these counties seemed to have more confidence on where the economy is going. They were also encouraged by the fact that despite increasing sales, prices of dwellings and commercial structures under real estate broker listings remain low, while interest rates also maintained their low levels. Real property agents stated that the current structure of the home market heavily favors buyers and those planning to purchase will not get a better deal than what they can get right now.

For the January-November 2010 period, local housing reports showed that foreclosed property sales in the upper area of Northumberland County accounted for 13.6% of total housing sales. In the western part of Northumberland, 19.7% of housing sales were accounted for by foreclosures in the same period, while the eastern part recorded a 10.8% share for foreclosed properties. In Snyder County, 8.7% of total sales for the same period were accounted for by foreclosed properties.

Meanwhile, the lowest percentage of foreclosure sales were recorded in Union County and Montour County for January-November 2010, with the former posting a foreclosure sale percentage of 8.4, while the latter was pegged at 4.8%. Local agents have stated that housing figures are often dependent on job availability, with counties that have stable job markets having higher number of people purchasing houses and commercial properties under real estate broker listings.

Buyers Advised to Purchase Properties in Real Estate Broker Listings is a post from: Brokers Blog

Under Minnesota law, any licensed broker or real estate agent convicted of misdemeanor or felony associated with misrepresentation, fraud or funds conversion is required to report these cases to the state's Commerce Department. The same requirements apply to those who are still applying for a license. Traffic violations are not included in the violations that require reporting.

According to a spokesperson from the Minnesota Commerce Department, those who belong to the licensed list of home agents and brokers who got involved in any of these acts are also required to submit a written explanation expounding on how they got into trouble. The department will then determine whether the broker or real property agent will be allowed to keep his or her license.

Officials further added that there are no specific provisions in the state's law dictating which scenarios will result in agents getting their licenses revoked or which will allow them to keep their professional licenses. The issue of stripping agents and brokers of their licenses became a hot issue in the state following the case of a real property agent who has been accused of hitting a client during an altercation.

According to local reports, real property agent Bill Bernier was involved in an argument with a client which culminated in the agent allegedly hitting the client. The agent was also accused of violating a restraining order filed against him by inspection workers from St. Paul who accused Bernier of threatening them.

The incident reportedly happened five years ago and since then, Bernier was able to keep his professional license. However, the agent eventually lost his license in April of this year after he reportedly failed to provide proper documents to several home buyers and the state's Department of Commerce. The case has reportedly resulted in questions regarding specific licensing rules as they apply to the state's list of home agents and brokers.

Specific Licensing Rules Apply to List of Home Agents in Minnesota is a post from: Brokers Blog

According to ERA, hiring quality real estate agents is not very easy, particularly while the housing industry is in a crisis. Officials from ERA have stated that the company is aware of the challenges facing brokers in terms of recruiting good sales employees and of the challenges that the current crisis is posing on property brokers in terms of finding reliable sales representatives.

The firm explains that the ERA TopRecruiter is a system that can be used by both small and large broker firms. The system was reportedly tested and honed for four months and had exceeded most category expectations. Company officials added that the tool has produced sterling results, particularly in the area of leads received and actual real estate agents hired.

USA home brokers looking for new property agents, including inexperienced and veteran agents, can rely on the comprehensive approach offered by the recruitment tool, ERA has asserted. The system features tools for analyzing hiring needs, keeping track of the progress of recruitment and also offers lesson on effective recruitment practices.

ERA has reported that brokers who participated in testing the pilot program were able to observe immediate benefits and the firm has now decided to offer the ERA Top Recruiter to its franchisees. The company added that personal coaching, virtual training and peer to peer info sharing are also being offered to brokers. The introduction of the recruitment tool enhances these offerings and provides brokers with analysis, planning, development and tracking tools for recruiting sales personnel, ERA has added.

ERA Real Estate also has a customized recruitment Web site called SmarterCareer.com. The site is specifically designed for USA home brokers and they can use it as a home base for hiring and recruiting sales representatives, ERA has revealed. Some of the features of the site are the Confidential Business Assessment, a marketing course in audio form and business-building information resources.

ERA Launches Recruitment Tool for USA Home Brokers is a post from: Brokers Blog

Realtors are focusing on positive things happening in the California residential property market, although they are also not ignoring the negative ones. Some of them have stated that brokers and agents should take heart from the fact that since February 2009, average home price has risen by 20%. They emphasized the fact that the rise in median house prices has been going on now for five consecutive months, which shows that the property market mood is improving.

Market-savvy realtors have also encouraged their fellow professionals to take advantage of whatever opportunities are available, like targeting buyers who have the means to invest and take advantage of low-priced properties under broker listings. Mastering the process of selling short sales can also be an advantage, experienced realtors have stated.

Such advice can come in handy, particularly when attendees have predicted a slowdown in the economic recovery of the country, which will consequently result in further decline in residential sales for the rest of 2010. Any improvement in sales in 2011 will be minimal at best, realtors at the conference have added.

In California, less than half a million residential properties are expected to be sold for the rest of 2010, which will represent a decline of around 10% compared with the previous year. However, prices of residences are expected to pick up, particularly in the single family category. Predicted price increase is estimated to be around 11%, with next year's prices projected to rise a further 2%.

Although prices of houses are expected to rise until next year, average prices will still be lower than 2007 peak numbers by over 40%. The residential property problem is projected to last until 2013 and can go as far as 2015, depending on unexpected factors that will appear in the coming years. With a not-so-bright outlook for California housing, realtors are concentrating on a number of opportunities that the profession can take advantage of to unload properties under broker listings.

Realtors: There Is Hope Yet for Property Broker Listings is a post from: Brokers Blog

The recent housing sales statistics issued by the National Association of Realtors led to some economists declaring that the occurrence of a double dip recession is more likely now than it was half a year ago. However, most analysts are still leaning towards an economic recovery, albeit a slow one.

Based on data released by the NAR, sales of existing homes declined by 27.2% in July compared with June and recorded a 12-month total of 3.83 million, the lowest number of units since May of 1995. Most real estate analysts have stated that the latest sales report demonstrates the market's volatility. The situation was made worse right after the tax credit deadline closed, they further added. Analysts also stated that the data showed that housing demand has deteriorated further in the past few months.

Meanwhile, it is not only home sellers who are suffering from declining sales but also property brokers who rely on such sales to earn their commissions. Most real estate agents believe that the country will not encounter a second recession, but they do agree with the general opinion that any recovery within the housing market and for the economy in general will be slow.

Along with poor home sales records for July, economists are also paying attention to the impact of unemployment on the economy. According to them, more than any economic factor, unemployment will have the biggest say when it comes to the issue of whether the country will achieve a sustainable economic recovery in the coming months.

With all significant data showing declines, the government is also expected to report a drop in the gross domestic product for the second quarter to an annual level of 1.4%. Unemployment, housing market statistics and even activities by property brokers are all expected to record declines in the coming months just like the nation's gross domestic product.

Property Brokers Suffer Along With Housing Market As Sales Decline is a post from: Brokers Blog

Harrelson, a Myrtle Beach real estate broker, did not close his Century 21 Harrelson Group real property firm and he did not look for another field where he can earn his income. Instead, he just expanded his services in the same field by getting into real estate coaching.

Harrelson's firm is one of the very few real estate agencies that were able to ride the tide of foreclosure. Even when the worst of the housing market caused other property firms to shut down, Harrelson's agents continue to close an average of 40 home sales each year.

The broker has been in the real estate business for over 17 years. In 1991, he purchased a Century 21 franchise and after spending almost ten years under the tutelage of a California real property expert, he believes that now would be the ideal time to teach to others everything he has learned about the business.

According to Harrelson, during the peak of the housing industry, he averaged around 300 sales in one year. This sterling performance is just one reason why he decided to be a guide for brokers agents who are trying to make their way into the confusing world of real estate. So far, Harrelson has started his foray into coaching by working with several top real estate agents in the Myrtle Beach area.

He is also developing several Web sites related to real estate, with one of them aimed at launching his Career Coach services. He states that real property brokers and agents have responsibilities towards their clients to provide them with sound advice and help them get the properties they need under the most reasonable terms. He also emphasizes the need for real estate brokers agents to understand the different situations for each client and guide them towards making a decision that is appropriate for their particular situation.

Real Estate Brokers Agents Expand Their Horizons is a post from: Brokers Blog

More lenders now are also considering and approving short sale proposals, as they found they can cut their mortgage losses if distressed properties are sold before foreclosure. The support of the FHA, VA, Fannie Mae and Freddie Mac and other federal agencies to the Home Affordable Foreclosure Alternatives program is also prompting lenders to put more attention into short sales as a solution to the foreclosure problem.

Based on data from the National Association of Realtors, nearly 40 percent of the current housing market is comprised by distressed and foreclosed properties, representing a great field of opportunities for real estate agents trained in short sales.

Short sales take a longer time to get completed as there are several parties that need to agree to the short sale proposal. There are also documents that need to be submitted to the lender, such as proof of financial hardship and sales contract. Lenders and mortgage guarantors also have different requirements and different documentation rules, slowing down the process.

Because of these difficulties, agents who have previously completed trainings in distressed sales and who have accumulated experiences in short selling are the ones getting the short sale work from homeowners. One large real estate company which runs a nationwide network recently reported that its agents who have been certified as distressed sales specialists are among the top-performing agents in their areas.

Processing and cash incentives provided under the HAFA initiative are also contributing to the surge in short sales. In addition to the streamlined short sale processing, homeowners are given $3,000 in relocation assistance and servicers are given $1,500 for their processing efforts.

Indeed, the surge in short sales and the support from the HAFA program are great opportunities for real estate agents who specialize in distressed sales.

Opportunities for Real Estate Agents Trained in Short Sales is a post from: Brokers Blog

Not only individual brokers are going into niche real estate markets, but also real estate companies. In Chicago, one real estate brokerage has developed a database that features only listings of homes and condos within walking distance of mass-transit stops. With this focus, the firm also puts its advertisements on commuter trains and on websites that highlight services for commuters and car-free days.

There are also those that focus on serving the real estate needs of senior citizens or first timers who are selling or buying their homes. Brokers and agents with niches become experts in serving their specialized markets and they are the ones looked for by their target clients when their services are needed.

However, according to some realtors, one disadvantage of concentrating on niches is getting confined to just a small portion of the real estate market and losing some opportunities in other niches. But if the niche chosen by a broker or realtor is producing sales, then the decision to specialize is a winning strategy.

One niche popular and profitable for brokers real estate during the housing crisis is distressed and foreclosure sales. Some even specialize further and just focus on either one of the two: short sales or foreclosure sales.

As short sales are among the most difficult to carry out and complete, brokers who have been certified as specialists in distressed properties by reputable real estate schools are being sought by distressed homeowners who want to avoid foreclosure through short sales.

The success of short sales is generally dependent on the lenders, so specialists are needed to prepare the documents and navigate the process. These specialist brokers real estate also know how to guide homeowners who are experiencing among the most painful periods of their lives because they are losing their homes.

Brokers Real Estate Focus on Niche Markets to Compete is a post from: Brokers Blog

According to brokers, statistics have yet to demonstrate it, but the commercial market of Richmond is actually recording increased activities and prices of commercial structures are starting to stabilize. They stated that the signs of recovery are being felt in all types of commercial properties such as retail, industrial and office buildings. They added that comments from people on the street and from various businesses operating in the commercial property industry are mostly positive compared with last year’s mood.

With regards to the retail property sector, vacancy rate in the city has risen to 6.9% in the first quarter of 2010. This is slightly higher than previous year’s first quarter figures of 6.2%. However, most market observers believe that 6.9 is still a pretty good situation to be in. They argued that what the market is experiencing is more a softening in rents rather than actual excessive vacancy rates.

At the office building sector, one prevalent trend that commercial property analysts are seeing is tenants taking advantage of the soft market by moving into better office spaces and paying the same rates they paid for their old headquarters. More prospective office renters are also showing interest on big spaces at the western Henrico area, a place where vacancy rate used to be as high as 25%.

Empty office spaces in the city are mostly created by the failure of two major businesses, market analysts have revealed. The demise of LandAmerica Financial Group and Circuit City Stores Inc. created a lot of vacant office spaces in the area and analysts are predicting that the impact of the loss of these two major businesses will be felt by the city for years.

Meanwhile, commercial real estate brokers also see some reason for optimism in the industrial property market which, according to them, is at least not getting any worse. Most brokers admitted that demand for industrial space is still low, but at the very least, it is not expected to get any lower.

The closing of computer memory chip manufacturer Qimonda in 2009 is being seen as a major contributing factor, not only to the poor condition of the industrial property market, but also to the overall economic condition of Richmond. The former factory of Qimonda has been purchased by Quality Technology Services at a price of $12 million; a figure that is way below the real assessed value of the industrial structure.

The loss of the chip maker resulted in more job losses for the city, contributing further to the economic problems of the area and to the poor performance of the industrial market. Analysts have added that the industrial building sector was also hurt by low inventories from retailers and manufacturers not producing as much as they should.

Although the commercial property market of Richmond is recording poor numbers, commercial real estate brokers believe that the sector is on its way to recovery and improvements will become more evident in the coming months.

Commercial Real Estate Brokers Remain Optimistic About Richmond is a post from: Brokers Blog

New York Real Estate Brokers and Lawyers Indicted is a post from: Brokers Blog