Archive for December, 2009
Mortgagee sales slip slightly in October
Filed under: Blog, Terralink Mortgagee Sales Report Responses: 0 Comments
Whilst the number of recorded mortgagee sales slipped in October from the high of 343 in September they still remain historically high. A total of 298 sales were recorded in October taking the year to date figure to 2,465 – for the month this represents a 71% increase on the same month last year.
The chart above clearly shows not only the significant levels of sales in each of the months of 2009, but also the fact that this time last year marked the beginning of the steep rise in sales of mortgagee properties. This will provide the opportunity in the coming quarter to assess the year on year comparison more accurately.
The first 10 months of 2009 has seen 2,465 sales – this compares to 964 in the same period of 2008 and just 370 in the first 10 months of 2007 clearly highlighting the significant fall out of the recessionary impact of unemployment and tighter monetary policy and the consequential effect on heavily leveraged investors.
The scale of the rise in mortgagee sales can be best seen in this chart below showing the full history by month since from 2006 when a monthly total of 50 would have seemed high.
The make up of the sales in October comprise a mix of single family homes as multiple property portfolios (more than 5 properties owned by a single entity). The impact of the recession is certainly forecasted by Terralink to continue to see high levels of mortgagee sales into 2010.
Whilst sales levels have continued to rise the number of listings of mortgagee properties on the market has begun to stabilise in the current year with the level of interest as measured by the keyword search of mortgagee showing signs of falling in the last 3 months – these statistics are presented in recent posts on the Unconditional blog on the realestate.co.nz website.
Tags: mortgagee
Want to know more about that house?
Filed under: Blog, International views, Technology Responses: 0 Comments
When it comes to search – the limits of possibility are nowadays limited only by our imagination. This is all thanks to Google who seem to be accelerating the pace of search based tools and applications.
For the real estate industry, map based search has been launched by Google and has created some waves in certain markets internationally.
For property seekers and interested investors – there are emerging tools to look forward to, which should help in the coming year (certainly feasible given technological pace of change!).
Firstly there is Augmented Reality – the ability through mobile applications to create a “heads up display” when you “photograph” a property. The concept is simple in that it stitches together GPS location with compass orientation and then matches it to property data. The company Layer is already seeing their application deployed in Holland on the property website Funda.
Added to this technology is the announcement today by Google of another application from their frenetically paced Google Labs. This is the area of Google responsible for over 200 applications over the past decade as they have deployed their veritable army of technologically advanced engineers to come up with game changing applications.
The latest app is called Google Goggles and using the new Google Android smart phone allows a seamless photo search capability for books, products, places and people (business cards only at this stage, although photo recognition software for people must be just around the corner)!
The key application for property search could emerge through a combination of Google Goggles and / or Augmented Reality as a capability which Zoodle has ambition to offer whereby wherever you are in the country you can point your smart phone at any property and immediately on your screen receive valuable property information.
This information will naturally show basic property information augmented by a suite of information covering CV, valuation, sales history, local sales history, local amenities, some free and some charged for depending on content licenses. To this could naturally be added any details of the property if it is currently being marketed by an agent. As ever the scope is only ever limited by our imagination and the source data.
Tags: augmented reality, google, GPS
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