FOR IMMEDIATE RELEASE:
MOTIVATED SELLERS SURGE IN AZ, CA, FL
House Buyer Network calls a real estate bust in twelve U.S. counties
MARIETTA, GA (September 19, 2006) – House Buyer Network is North America’s
largest home selling solutions company, catering specifically to those who need to sell a
home fast. The company has been providing solutions since 2002 and annually processes
billions of dollars in real estate.
Today the company declared a bust in several U.S. real estate markets as real estate
prices driven to unsustainable levels by years of activity by real estate speculators and
increased reliance by homeowners on low down-payment, short-term ARMs have created
a glut of motivated home sellers. That increase in homeowners needing to sell fast has, in
turn, created great opportunity for both true real estate investors and real estate agents
who specialize in quick sales.
In just the previous year, the amount of Arizona property processed by the company each
month has soared by 235%, almost exclusively as a result of increases in cities in
Maricopa County (243% increase). Surprise, AZ, showed the biggest increase with as
many quick-sale homes in August 2006 as in all of 2005 combined. Mesa was next with
a 400% increase, followed by Phoenix at 307%.
Florida has seen the second largest year-over-year increase—climbing steadily by 219%
since January 2006 alone. The increase there was led by Dade County (400% increase),
Lee County (338%), Palm Beach County (318%) and Hillsborough County (210%).
California saw a 196% increase in motivated sellers since August, 2006, but unlike
Florida and Arizona, the bust in California has been more widespread with a full seven
counties seeing motivated sellers triple or more: Alameda County (650% increase), San
Joaquin County (450%), Orange County (375%), Fresno County (333%), San Bernardino
County (300%), Riverside County (222%) and Los Angeles County (194%).
Emerging Bust Markets
In addition to being able to pinpoint today’s bust markets, the volume of real estate
coming though the system every month also allows House Buyer Network to spot
emerging bust markets six months or more in advance.
Today, the largest concentration of potential bust markets is in the Washington, D.C.,
area with six surrounding counties showing a significant recent surge in the number of
motivated sellers: Virginia’s Fairfax County, Loudoun County and Prince William
County, and Maryland’s Baltimore County, Montgomery County and Price George’s
Illinois and Massachusetts are also showing signs of weakness. Motivated sellers have
started to climb in Cook County and Lake County in Illinois, as well as in Massachusetts’
Middlesex County and Worcester County.
Finally, individual pockets of real estate slowdown are beginning to emerge in other parts
of the country as well, including Shelby County, TN; Hamilton County, OH; Bexar
County, TX; and Kent County, MI.
Whether these areas emerge into a true bust market remains to be seen, but all show
strong early indicators that a bust may be developing.
About House Buyer Network
House Buyer Network (www.housebuyernetwork.com) is North America’s largest home
selling solutions company. Since 2002, the company’s nationwide network of
professional home buyers and real estate agents has helped more than 100,000 families
and individuals who needed to sell a property fast—processing more than $20 billion in
property during that time.
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