“PropertyShark’s aggregation of real estate data from hundreds of sources into a single property research website has changed the way real estate investors, professionals, and consumers educate themselves and make decisions about property in hubs like New York and Los Angeles,” said Gordon Morrell, Yardi’s executive vice president and chief operating officer. “Yardi acquired PropertyShark to expand the service nationally, strengthen our suite of products, and provide our clients with fully integrated access to detailed property information.”

“When I founded PropertyShark in 2002, I wanted access to the hard-to-reach property information held by sellers, city agencies and brokers so I could make informed decisions about real estate investments I was considering,” said Matthew Haines, PropertyShark’s founder.  “To see the concept taken from one neighborhood in New York City into the hands of one of the largest and most successful real estate software companies is a victory for everyone involved in buying, managing, and selling real estate based on transparent and comprehensive research.”

About Yardi

Yardi Systems has been committed to the design, development, and support of real estate investment management and property management software for more than 28 years.  With its Yardi Multifamily Suite™, Yardi Commercial Suite™, and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today.  Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.

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Hundreds of thousands of additional anonymous site visitors also use the free and open areas of PropertyShark.com such as the For Sale Listings (http://propertyshark.com/mason/Real-Estate-Listings).

Site visitors can view detailed property reports for almost every residential or commercial property, scan recent sales comparables of similar properties to determine market values, browse nearby for sale and foreclosure listings, and much more.

In August, PropertyShark.com was named to the TIME.com “Top 50 Websites of 2009″

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PropertyShark.com decided to make the move for several reasons including
a) getting the additional dedicated space to teach PropertyShark University continuing education classes (www.PropertySharkUniversity.com),
b) having space to grow new initiatives such as our comprehensive Residential Homes For Sale Listings (http://propertyshark.com/mason/RFS/)
c) the Manhattan location allows much easier access to trains/subways to Long Island, Westchester, New Jersey, Staten Island, the Bronx, all of Brooklyn and Queens as well as obviously Manhattan. This lets us get out to every real estate office quite easily for the free group training that we offer to help real estate professionals get the most out of PropertyShark’s data and tools.
d) we jumped at the chance to get a bigger office in Manhattan while commercial rents are lower.

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New York City Foreclosures February 2009

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• New foreclosures in Long Island totaled 324 in February 2009, increasing 26% over January 2009 (257) and 69% over February 2008 (192).
• There were 220 new foreclosures in Nassau County in February 2009, which is up 26% from January 2009 (174) and 168% higher than in February 2008 (82).
• With 104 new foreclosures in February 2009, Suffolk County saw a 25% increase over January 2009, but a 5% decrease compared to February 2008.
• Hampton’s foreclosures remain very few and far between.

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