Real Estate: Tom Kelly
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August 13, 2009
The Real Estate Adviser: More trouble ahead with foreclosures
By TOM KELLY
Special to the Journal
Special to the Journal
SAN FRANCISCO — Despite the growing optimism regarding the recent uptick in the market, there was no getting around the underlying foreclosure buzz at the recent Real Estate Connect, a four-day conference bringing together executives of the residential industry, technology specialists and everyday salespeople looking for ways to better serve buyers and sellers.
Cliff Bowman, the Vancouver, B.C.-based marketing expert who turned pre-selling condominium buildings into an industry art form, pointed to data by the credit bureau Equifax and Moody's showing that recent home price declines left 24 percent of all homes in the U.S. with debt greater than their value.
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