Archive for 2006

Foreclosure Auctions Increase in Los Angeles and Miami in the Third Quarter of 2006; Pre-Foreclosures Jump in New York City

Wednesday, November 29th, 2006

New York City, November 29, 2006 – PropertyShark.com, the premier real estate data site, issued its quarterly new residential foreclosure report covering New York City, Miami, and Los Angeles for the July-September 2006 time period. To see actual foreclosure listings in each area, visit: http://www.propertyshark.com/mason/Foreclosures/

Four-City Findings (Request full report for details):

  • Number of New Foreclosure Auctions: PropertyShark.com recorded 1533 trustee sales in Los Angeles, 425 foreclosure auctions in New York City, 572 in Miami-Dade County, and 293 in Seattle (King County) for July-September 2006.
  • Foreclosure Auctions per Household: On a per household basis, Miami had a concerning 523% more properties scheduled for foreclosure per household during the quarter than New York City, 179% more per household than Seattle, and 150% more per household than Los Angeles.

New York City:

  • Number of New Foreclosure Auctions: There were 425 new residential foreclosures in New York City (5 boroughs), an overall decrease (-21%) in new foreclosures in the current quarter from the second quarter of 2006 (538 foreclosures).
  • Foreclosure Auctions per Household: Of the five boroughs, Staten Island had the highest rate of foreclosure auctions per household in Q3 2006, about twice the rate of Brooklyn and over 10 times the rate of Manhattan.
  • Average Lien Amounts: Manhattan had the highest average lien per property in foreclosure at $330,728. The Bronx had the lowest average lien at $226,995.
  • Foreclosure Auctions by Neighborhood: In NYC, 17 of the top 20 zip codes for foreclosures were in Queens and Brooklyn.
  • Lis Pendens (Pre-Foreclosures): The number of residential pre-foreclosures in NYC for the quarter (1468) dropped 10.92% from the second quarter of 2006 (1648), but increased 20.33% from the third quarter of 2005 (1220).

“The decrease in new foreclosure auctions in New York City since the second quarter of 2006 is definitely counter to popular perception of the housing market, but foreclosures are just one factor in determining the economic state of real estate”, stated Ryan Slack, chief executive officer of PropertyShark.com “Comparing NYC Lis Pendens in Q3 2005 and Q3 2006, we see an increase in defaults across all boroughs; this may be indicative of a future increase in foreclosure rates City-wide”.

Los Angeles County

  • Number of Trustee Sales: Los Angeles had 1533 trustee sales during the period, an increase of 22.15% from the second quarter of 2006.
  • Trustee Sales by Neighborhood: The majority of Los Angeles trustee sales occurred in the Lancaster/Palmdale area and in South Central Los Angeles.

“The 22% increase in Los Angeles trustee sales is important because California, a trustee state with an expedited foreclosure process, tends to foreshadow future trends in other states such as New York, which has a lengthy foreclosure court process” said Ryan Slack, chief executive officer of PropertyShark.com.

Seattle (King County)

  • Number of Trustee Sales: King County had 293 new foreclosures in the third quarter of 2006.
  • Trustee Sales by Neighborhood: The majority of King County foreclosures occurred in the Auburn/Federal Way areas.

Key Miami-Dade County Findings

  • Number of New Foreclosure Auctions: There were 572 new residential foreclosures in Miami-Dade for the quarter, an 8.92% increase from Q2 2006.
  • Foreclosures by Neighborhood: The majority of Miami-Dade foreclosures occurred in the Hialeah area. (Request report for top 20 zip codes).

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With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, homes for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com Launches Maps and Foreclosure Listings for San Francisco

Thursday, November 16th, 2006

New York City, November 16, 2006 – PropertyShark.com, the premier real estate investment data site, announces the addition of maps and foreclosure listings (trustee sales) to round out its offering in San Francisco. Now, in addition to the comparable sales tool and the detailed property reports for almost every residential and commercial property in SF, PropertyShark.com has maps for Land Use, Median Population Age, Population Density, Median Household Income, and Property Outlines. Additionally, current foreclosure listings have been added for the San Francisco area.

View any of the San Francisco Maps

To browse the Foreclosures in San Francisco go to: San Francisco Foreclosure Listings

“The addition of maps and foreclosure listings help to round out our San Francisco offering and provide real state professionals, investors, and savvy homebuyers with new tools and data to evaluate neighborhoods and investment opportunities.” said Ryan Slack, chief executive officer, PropertyShark.com.

In addition to the new maps, PropertyShark.com offers detailed property reports for almost every residential and commercial building in San Francisco and a comparable sales tool to help users determine market value of a SF property based on a wide variety of assorted criteria. Detailed property reports include building details (size, year built, construction type, etc.), property ownership, last sale price with buyer and seller’s names, demographic info on the neighborhood, tax assessment data, zoning, automated valuation models, and recent permits filed. The Comparables tool allows users to enter in sales price range, sales date range, building type, building size, year built, construction type, and zip code, in order to find the market value of a specific property.

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With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property records, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com Announces it now has Sales Price Data for Co-ops

Thursday, August 3rd, 2006

New York City, August 3, 2006 – PropertyShark.com, the premier real estate investment data site, announces that by end of day today it will have incorporated New York City co-op data into its award winning website.

For the first time ever, NYC co-op sales prices going back to January 2004 will now be made public on the easy to search PropertyShark.com website. Prior to the recent legislation making co-op sales data public information, brokers, agents, appraisers, investors, and most importantly, homebuyers, had no way to compare sale prices of co-ops and determine a co-op’s fair market value.

“No other site will be carrying this information immediately, and we have made the data accessible from the easy-to-use PropertyShark.com web interface. By end of day today we should have most of the data online, and going forward, we will automatically incorporate all available New York City co-op data into our site on a daily basis,” explains Ryan Slack, chief executive officer, PropertyShark.com.

In addition to co-op sales prices and ownership information, PropertyShark.com provides brokers and homebuyers with other critical data important when evaluating co-ops, including school district information, neighborhood police reports, building photos, interactive maps, number of units in the building, year built, and much more, with room count and square footage information coming soon. With a wealth of co-op information now available at their fingertips, brokers and agents could also use PropertyShark.com to canvass co-op owners to list and sell their units.

“Until now, the Manhattan residential market has been both the largest and yet the most opaque housing market in the country. This will radically change the way people evaluate the co-op market, bringing transparency to what was a veiled marketplace,” says Slack. “No longer will homebuyers and independent brokers have to rely on the top three brokerages for co-op comparables.”

To see listings of recent co-op sales by neighborhood, go to: New York City co-op comparable sales

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With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, apartments for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com Announces Hire of VP of Sales and VP of Marketing

Wednesday, June 14th, 2006

New York City, June 14, 2006 – PropertyShark.com, the premier real estate investment data site, announces the addition of key players to its management team during the first half of 2006, Bill Staniford as Vice President of Sales, and Brian Scully as Vice President of Marketing.

“Expansion of the PropertyShark.com management team is an important milestone in our rapid growth. Bill Staniford and Brian Scully bring extensive sales and marketing experience to bear on the task of increasing awareness of the most in-depth real estate investment data and tools in the marketplace. We are delighted to have Brian and Bill as part of PropertyShark.com team,” says Ryan Slack, chief executive officer, PropertyShark.com.

Brian Scully joins PropertyShark.com as Vice President of Marketing, bringing over ten years of experience successfully growing new software, technology, and digital media companies. From marketing strategy to lead generation to branding, he effectively created market demand for new and innovative products. In his last position, Brian headed end-to-end marketing for UMT, supporting the launch and commercialization of UMT’s enterprise software solution by driving leads and new business while positioning the company and the product as leaders in the space. His efforts helped lead to the successful sale of UMT to Microsoft in 2006.

Brian has a B.A. from UCLA and an M.B.A. from the Stanford Graduate School of Business.

“I was drawn to PropertyShark.com because its breakthrough service finally provides people with the information transparency essential to evaluate real estate and make informed decisions. The extensive real estate data, maps, and photos being aggregated on PropertyShark.com from disparate government and business silos is astounding, and will lead to a new era where no property transaction is made without deeper analysis. I want to help make this critical information easily accessible to everyone involved with real estate at a fair and affordable price,” comments Brian Scully, vice president of marketing, PropertyShark.com

Bill Staniford joins PropertyShark.com as Vice President of Sales with extensive sales experience in top-level positions, including selling to homeowners and businesses for redecoration and renovation projects in the home improvement industry. He also has sales experience in the education industry and has over nine years of general management experience. As Vice President of Sales his responsibilities will include creating and managing both an in-house and an outside sales force.

Bill has a B.A. from the University of Texas and an M.B.A. from the Leeds School of Business at the University of Colorado.

“I was attracted to PropertyShark.com for two reasons: As a businessman, I feel that PropertyShark.com has unlimited potential and a distinct competitive advantage over our competitors. As a salesman, I feel that our product is a must-have for anyone even remotely interested in real estate let alone the professionals. Even if you are just buying a house, the information that we provide is invaluable. Furthermore, I believe that my experience will enable me to educate and manage an aggressive results-driven national sales force for PropertyShark.com,” says Bill Staniford, vice president of sales, PropertyShark.com.

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With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, apartments for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com Integrates Maps and Data with Leading Proprietary RE Platforms

Wednesday, May 10th, 2006

New York City, May 10, 2006 – PropertyShark.com, a data analytical tool for property search has announced today they now have made automated property data and interactive maps feeds available to top NYC-area real estate firms.

“We have enabled integration of our state-of-the-art interactive maps directly into the Halstead Property website,” says Ryan Slack, chief executive officer, PropertyShark.com.

“Now Halstead.com visitors can view detailed neighborhood maps with customized New York City property data. Our Property Shark.com partnership provides tools our customers want with the service they expect from Halstead Property,” explains Jim Cahill, executive vice president, Halstead Property.

“Further, PropertyShark.com created a web data service which enables brokers, software vendors, and service providers to pipe PropertyShark.com data automatically into their applications,” elaborates Slack. “RealPlus, Massey Knakal, and Sales Team Live are three prominent examples of the power of combining proprietary software with our data.”

“By integrating a link to PropertyShark.com into RealPlus, the 240+ firms that use RealPlus can now obtain high quality building information and reports directly from PropertyShark.com by simply clicking on an icon within our application. This powerful tool gives the brokers easy access to much needed information so they can better service their customers,” says Eric Gordon, managing director, RealPlus LLC.

“Massey Knakal has decided to integrate with PropertyShark.com to provide our professionals the most up-to-date sales data to augment our in-house proprietary database of property and owner information.” explains Timothy D. King, chief operating officer, Massey Knakal Realty Services.

“Data is king in this business – if you don’t have accurate, up-to-date information, it is very difficult to succeed,” says Ali Nazar, vice president of product management, Sales Team Live. “We work with only the best data providers around the country to ensure that our users, who employ sophisticated marketing and sales strategies using SalesTeamLive’s Real Estate Console, get the best returns on their marketing dollar. PropertyShark.com is hands down the best provider to work with in the New York metro area.”

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SalesTeamLive offers proven marketing materials, tools, websites, phone systems and training as a complete business solution for automating the business of real estate investment. SalesTeamLive is
for serious real estate investors who believe that marketing is critical in driving a high 6-7 figure a year business.

Halstead Property, LLC, is one of New York City’s most visible, largest, and fastest-growing residential real estate brokerage firms. Founded in 1984 and owned by Terra Holdings, Halstead’s services include Residential Sales, Property Management, Relocation and Development Marketing. Headquartered at 770 Lexington Avenue, the firm also has eight prime retail office locations in Manhattan, Brooklyn and Riverdale. Additional Halstead Property offices include prime locations in the second home market of Hudson Valley. Halstead Property was one of the first real estate brokerages to make buying and selling property more efficient through the aggressive use of technology and the first in New York to bring real estate sales out of Midtown office buildings and into prime boutique retail storefronts. The firm has more than 500 sales and rental agents throughout New York. In addition, through its property management division, Halstead Property manages over 7,000 residential units within 77 buildings.

Since 1984, RealPlus LLC has been designing and maintaining Brokerage Listing Systems for the Manhattan Residential Real Estate community. Currently, over 240 firms use our application which represents approximately 75% of the industry. For more information:

Massey Knakal Realty Services is a full service property sales company specializing in the sale of investment and user properties. It was founded in 1988 by Paul J. Massey, Jr. and Robert A. Knakal, two former Coldwell Banker Commercial executives. The firm has building coverage in Manhattan, Queens, Brooklyn, the Bronx/Northern Manhattan, Staten Island and both Westchester and Nassau Counties. Massey Knakal operates on a territory system, in which each professional is assigned a specific number of blocks in order to know all variables of their submarket including who’s buying, who’s selling, what sales prices have been, what factors are effecting value and how transactions are being structured. Although the majority of Massey Knakal sales are of properties under $20,000,000, the firm has sold properties as large as 850,000 square feet and for as much as $180,000,000.

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PropertyShark.com and Toxics Targeting Partner to Provide New Environmental Information Service

Wednesday, March 1st, 2006

New York City, March 1, 2006 – PropertyShark.com and Toxics Targeting today posted a detailed Internet map that illustrates more than 12,000 toxic dumps, leaking tanks and pollution discharges throughout New York’s five boroughs. Real estate buyers can screen individual parcels for selected toxic sites that can reduce property value, impose clean up liability, or restrict property use. View map at: http://www.propertyshark.com/maps/?map=nyc2&basemap=toxicsites

Ryan Slack, PropertyShark.com’s chief executive officer, said “Purchasers of contaminated property can be held liable for costly clean ups so they should always conduct due diligence for environmental hazards. Prospective real estate investors will find this easy-to-use toxic site map invaluable.

Toxics Targeting used the City’s tax parcel map to locate toxic sites reported by local, state, and federal authorities. “This is the most detailed toxic site map ever made publicly available for New York City,” said Walter Hang, Toxics Targeting’s president. “Real estate investors can zoom in on individual parcels to see selected toxic sites,” Hang noted.

Toxics Targeting provides a report service that maps and profiles up to 19 toxic site categories on or around any specific address ($150.00 each). Prospective buyers can use the reports to conduct property due diligence or Phase I environmental site assessments required by mortgage lenders.

Toxics Targeting Reports can be ordered on PropertyShark.com’s web site and are emailed for fast turn-around to meet closing deadlines. Purchasers can call 800-2-TOXICS to ask report questions.

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Toxics Targeting specializes in mapping and profiling nearly 1.0 million toxic sites across New York State and New Jersey. It provides environmental database reports to property buyers, engineers, consultants, attorneys, drinking water suppliers, and municipalities.

With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, apartments for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com and Trulia Form a Strategic Partnership

Wednesday, February 15th, 2006

New York City, February 15, 2006 – PropertyShark.com, a leading data analytical tool for property search and Trulia, a real estate listings metasearch service based in San Francisco, announced their partnership today.

“We have a bilateral cross linking relationship which allows Trulia to enhance its search results with PropertyShark data, helping to make it a better service for home researchers. In return, we use Trulia search results in PropertyShark reports, giving our users a good sense of what nearby properties are for sale. We also jointly promote each other,” comments chief executive officer of PropertyShark.com, Ryan Slack.

Trulia’s co-founder, Pete Flint adds, “The Internet real estate researcher is hungry for the most comprehensive and accurate information. With this integrated partnership, we can offer consumers a more informed search experience while supporting the sales process for brokers and agents.”

PropertyShark founder, Matthew Haines, further explains, “As the real-estate data market heats up, with lavishly-funded start-ups like Zillow joining the fray, it is essential that focused players like Trulia and PropertyShark partner to provide consumers and professionals with a soup-to-nuts offering of sales, leads, and property data and tools.”

The two companies have already partnered in Los Angeles and New York City markets and plan to tackle other key cities in coming months.

About Trulia

Trulia has revolutionized the search for residential real estate by offering a comprehensive source of information that does not require any software installation, download, or registration. By partnering with real estate brokers, Trulia helps consumers to find the most comprehensive and up-to-date information about individual homes for sale in addition to extensive information about neighborhoods and market trends. Based in San Francisco, Trulia was founded by two Stanford graduate students who believed that they could deliver a superior real estate search experience that met the needs of consumers and the real estate brokerage industry.

With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, apartments for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com Plots Home Sale Prices on Maps to Empower Brokers

Tuesday, February 7th, 2006

New York City, February 7, 2006 – PropertyShark.com announces its home sale-price maps to empower appraisers and real estate professionals to effectively serve home buyers and sellers.

Launched as a beta, an example of this map for New York City can be seen here: http://www.propertyshark.com/maps/sales/

“We’ve decided to launch this on the eve of the launch of residential home valuation tool Zillow because, in my opinion, computer-based automated valuations, such as those you will likely see at Zillow, are more likely to be wrong than right. Every property is an illiquid, unique asset, and a computer program cannot accurately predict the price it will fetch on the market,” commented PropertyShark.com founder, Matthew Haines.

PropertyShark.com, which is designed primarily for use by appraisers and real estate professionals, provides users with the original data directly from government records, including sales price, mortgage amounts, document images, and ownership records.

“My understanding is that Zillow is out to disintermediate the broker and real estate salesperson, attempting to devalue the broker’s Comparable Market Analysis by providing an instant valuation of sorts. Unlike Zillow, PropertyShark.com is focused on empowering real estate professionals, not disempowering them. We give professionals, and savvy consumers, the actual raw data, as well as an unprecedented level of depth which captures the unique nature of each piece of real estate and its value,” expanded PropertyShark.com chief executive officer, Ryan Slack.

With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, apartments for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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PropertyShark.com Photographs Every Building in Manhattan

Tuesday, January 3rd, 2006

New York City, January 3, 2006 – PropertyShark.com, a data analytical tool for property search, just announced they have taken a picture of every building in Manhattan—over 40,000 in total.

“We’ve indexed each photo to an actual building,” explains Matthew Haines, founder, PropertyShark.com. “Each photo has been taken by hand, by our team of extraordinary photographers, with high-quality digital cameras equipped with wide angle lenses to capture entire buildings and portions of neighboring properties,” continues Haines. “These photographers have quite a few stories to tell about all they’ve encountered in their mission to complete this project.

“When we first came up with the idea to do this project, we tried to fashion a much more high-tech way of taking pictures, but eventually went back to the most effective method—taking pictures of each building on foot, walking nearly 1000 miles in total,” comments Ryan Slack, chief executive officer, PropertyShark.com

“While this started out as a practical addition to our site, useful for professionals and consumers alike, as we began to work through the project, in addition to its business uses, it became a conceptual art project with sociological value,” declares Haines.

“Both Ryan and I moved to New York City from California and we came to love the gritty, big city feel—we wanted to capture the overwhelming size of it. We saw that New York City was undergoing a huge boom in new construction, and we knew that five years from now the city we had come to love would no longer be the city newcomers would see. We wanted to capture all the parts just as they are,” continues Haines, quick to note that these are not glamorous architectural shots, but rather everyday photos.

“No other company out there has done this,” proclaims Slack. “MSN, Google, Yahoo and Amazon’s A9.com are all attempting to do similar photo projects in Manhattan, yet none of these players have achieved what we have,” Slack elaborates proudly. “A9, which is farthest along, only shows the first two stories of each building, while PropertyShark.com offers a full picture of the entire façade; in addition, we provide shots of every building on every street, whereas they only have certain commercial streets available. We also link every photo to a specific building address, but A9’s photos are not indexed to specific addresses only general locations.”

In addition to displaying the pictures in the PropertyShark.com’s property reports, the photos are also incorporated into the site’s maps, showing exactly where the building is located.

“A9’s photos are displayed by showing all streets as East-West, which can make it difficult to know what building you are seeing or even what side of the street you are viewing,” adds Haines.

The photos can be used for a wide variety of purposes:

  • Researching buildings for sale
  • Checking out apartments
  • Scouting a neighborhood or location
  • Perusing a commercial district—viewing the exterior of a restaurant, bar or shop
  • Combining them with state-of-the-art interactive PropertyShark.com maps to quickly search to locate properties/locations

PropertyShark.com’s photographers will not get to rest for long. The company plans to continue until all of NYC is photographed.

With over 20 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property tax, sophisticated maps, apartments for sale, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

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