December 16, 2011
TIDBITS FROM INMAN NEWS:
- A record number of homes are in the foreclosure pipeline. Lenders are attempting to push 2.2 million homes through the process as of the end of October. But, the long-term outlook shows significant improvement. One reason the foreclosure pipeline is so full is that it’s taking so long for the lenders to begin proceedings in seriously delinquent loans.
- Android and iPhone have 75% of smartphone market share.
- Here’s some staging advice to sellers during the holidays: use winter scented home fragrances before an open house, make the home feel more cozy through reading nooks and blankets on couches and beds, set the table to showcase holiday entertaining, play seasonal music that is not specific to a particular holiday.
- Zillow reports that home values are down 23.7% from the May 2007 peak. They project an additional 2-4% decline before bottoming in 2012. In 156 metropolitan areas, 61% saw value decline, 14% remained flat, and 6% saw an increase on an annual basis. Of the 25 largest metro areas, all but one (Pittsburgh) saw a year over year decrease. Home values in Boston declined 2.7%.