The state Appellate Division yesterday upheld former Superior Court Judge Bill Mathesius’s 2009 decision to strike down two Ewing ordinances aimed at controlling rowdy college students living in rental housing through occupancy and parking restrictions.
With the likely exception of real estate agents who are now working with hesitant buyers, no one really disputes the fact that there are a ton of houses that are likely to come on to the market over the next year or two both from distressed sales and from sellers who think the market has recovered enough that they'll get a decent price.
via Seeking Alpha.
[This is why it remains too early to invest. Most markets have much further to fall -- Tim]
About 5 million to 7 million properties are potentially eligible for foreclosure but have not yet been repossessed and put up for sale. Some economists project it could take nearly three years before all these homes have been put on the market and purchased by new owners. And the number of pending foreclosures could grow much bigger over the coming year as more distressed borrowers become delinquent and then, if they can’t obtain mortgage relief, wade through the foreclosure process, which often takes more than a year to complete.
Because way too many real estate investors, agents and business entrepreneurs don’t take action on it. I strongly believe it is one of the biggest success killers. It almost seems like a secret because too many people don’t do it. If you do anything and I mean anything in your business today, take some time and develop what I am about to share with you.
The down economy has meant brisk business for Landlord Solutions, a Tacoma-based company that specializes in eviction services.
via The News Tribune.
Again, we have to cry foul. NAHB is just doing their job by rallying for the industry, but we have to note that with foreclosures at a historic high, by the time the economy turns around, there will be more than enough houses for rent. It’s not like there’s a population boom here, there are options for renters other than multi-family.