Dec 11, 2012

Home sales hit a high note

Here is a look at the unbelievable 2012 performance of home sales in from NTREIS ( North Texas Real Estate Information Services - also known as our local MLS). November 2012 dollar volume of sales was $1.171 billion, which was 32% higher than last November and was the second highest November dollar volume ever (behind only November 2005). This 32% increase was due to 18% higher transaction volume and 11% increase in average sales price.
The good folks at Hexter Fair Title put this chart together for us and we're all interested in watching whether this growth can continue. Most experts have been tagging 2013 as the come-back year for quite some time. But we'll wait to see what the uncertainty in Washington brings. Whatever happens, Texas continues to lead the country in real estate sales.


sapna said...
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Unknown said...

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Some junior lien holders and others with an interest in the property may object to the amounts other lien holders are receiving. It is possible for any one lien holder to prevent a short sale by refusing to agree to negotiate a reduction in their payoff to release their lien. (Iowa has a procedure, sale free of liens, which allows a foreclosure court to "cram down" a short sale over the objections of the junior creditors.) If a creditor has mortgage insurance on their loan, the insurer will likely also become a third party to these negotiations, since the insurance policy may be asked to pay out a claim to offset the creditor's loss. The wide array of parties, parameters and processes involved in a short sale can make it a complex and highly specialized form of debt renegotiation. Short sales can have a high risk of failure from inability to obtain agreement from all parties, or they might not be approved in time to prevent a scheduled foreclosure date.
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