Industry News

Software entrepreneur finds calling in foreclosures

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Sean O'Toole is founder and CEO for ForeclosureRadar.com, a site that tracks foreclosures in California. The site launched in May 2007. He will speak at Real Estate Connect in San Francisco, July 23-25, 2008. O'Toole answered a set of questions posed by Inman News: What do you see happening in the real estate market in 2008? Bank-owned inventories will continue to rise for the remainder of the year. Lending options will decrease as the extent of losses further unfolds. These two items will keep significant pressure on both price and demand for the remainder of 2008. Lower prices will begin to attract investors looking for rental income. What advice do you have to help real estate agents and brokers get through this market? Even though foreclosures now represent more than half of the market, Realtors do not have to reinvent themselves. They do not necessarily even have to do foreclosure transactions. But they will better serve themselves and their clients by understanding ...