unsold property

It is a reminder of how hard it will be to clear almost a million unsold properties.

Listings of unsold properties remain huge and many homes have been languishing on the market for more than a year.

Moreover, the overhang of unsold properties is evaporating much faster than expected.

As the mortgage rates continued to climb, many buyers balked, and a surplus of unsold properties began to build up.

They can unload their inventory of unsold property in several months - allowing for the closing - rather than waiting several years.

Because some developers are renting their unsold properties, rental prices statewide are up 7 to 10 percent over last year, he said.

The Zombie house builders seem oblivious to the rising tide of unsold properties, empty homes and repossessions.

The cost or hassle of any of these alternatives, say brokers, should always be weighed against the continued financial drain of carrying unsold property.

We need more affordable homes: There is a medium-sized development near us which has been up for a while now which still has five unsold properties.

But the number of unsold properties has risen far less steeply, suggesting there are far fewer forced sellers in Guildford.

We will be left with thousands of unsold properties and half-built developments and greater debts, just like Ireland and Spain.

And for the first time since the mid-1980's, the number of unsold properties soared at contemporary-art sales to as much as 50 percent of the works offered.

Housing has been so weak that party conversation in the Northeast is no longer about real estate coups but rather horror stories of price declines and unsold property.

This is nonetheless a deliciously high margin business for Cendant, which gets many of the weeks free from developers looking to lure prospective purchasers to unsold properties.

Sales of previously owned homes declined last month as the supply of unsold properties on the market ballooned and prices declined compared with those a year earlier.

If the sales are successful the dealers share in the company's profits, and if they aren't the dealers can help the auction house find buyers for the unsold property.

The recent jump in interest rates and a glut of unsold properties available for sale will probably make it harder for borrowers to refinance or sell their homes.

The Madrid research group RR de Acuña & Asociados said the overhang of unsold properties will soon reach 1.6m, taking six or seven years to clear.

Moreover, any initial pick-up in the market is likely to be revealed in higher turnover rather than higher prices, because of the overhang of unsold properties and continued repossessions.

She said that overly ambitious regulations could have the unintended consequence of cutting off credit, hurting home sales and adding to the already high levels of unsold properties on the market.

The recession and the war, however, dried up the supply of potential investors, and the company was left with a large amount of unsold property and huge interest costs on its debt.

Thus, while the Government's scheme to purchase some 20,000 properties will help reduce the overhang of unsold properties, it is unlikely to provide a significant boost to the market as a whole.

For these properties, at least in Manhattan, high sale prices in the mid-80's and an effort to lift valuations of unsold properties felt to be undertaxed led to rapidly rising property taxes.

In his Autumn Statement, the Chancellor also announced a £750m package to buy up to 20,000 unoccupied homes in an attempt to reduce the overhang of unsold properties on the market.

The property, a large barn conversion arranged around a courtyard at South Nutfield, is still languishing among a growing number of unsold properties - despite the price having been reduced from £835,000 to £799,950.