Thursday, May 30, 2013

RealtyTrac Reports U.S. Foreclosure Sales in First Quarter Down 22 Percent from Year Ago

IRVINE, CA, May 30, 2013 — RealtyTrac® (, the leading online marketplace for foreclosure properties and real estate data, today released its Q1 2013 U.S. Foreclosure & Short Sales Report™, which shows a total of 190,121 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the quarter, a decrease of 18 percent from the previous quarter and down 22 percent from the first quarter of 2012.

Daren Blomquist
“We expected foreclosure-related sales to be lower given the downward trend in new foreclosure activity nationwide over the past two and a half years, but the decrease in non-foreclosure short sales was a bit of surprise given the 11 million homeowners nationwide still underwater,” said Daren Blomquist, vice president at RealtyTrac.

“Rising home prices in many markets are stunting the continued growth of short sales by reducing incentive for both underwater homeowners and lenders.

”Underwater homeowners may be willing to stick it out a few more months or even years in the hope that they will be able to walk away with money at the closing table and without a hit to their credit rating, and for lenders a failed short sale may no longer translate into bigger losses down the road, given that average prices of bank-owned homes are rising — at a faster pace than non-distressed home prices in many markets.”

For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
949.502.8300, ext. 139

Ginny Walker
949.502.8300, ext. 268

Data and Report Licensing:
Data Sales Department

HFF closes $9.625 million sale of two-building industrial property in Dulles, VA

WASHINGTON, D.C. – HFF announced today that it has closed the sale of Northpointe B & C, a two-building, 83,086-square-foot industrial property in Dulles, Virginia.

Bruce Strasburg
HFF marketed the property on behalf of the seller, Velsor Properties, LLC.  The property sold for $9.625 million free and clear of debt.

Northpointe B & C are located at 44901 and 44931 Falcon Place adjacent to Dulles International Airport and proximate to Dulles Toll Road (Route 267) and Route 28. 

  Situated less than one half of a mile from Dulles International Airport’s cargo entrance, the buildings are 87 percent leased to a diverse tenant base including The Richards Corporation. 

Samuel Fagelson
The HFF investment sales team representing the seller was led by senior managing director Bruce Strasburg and real estate analyst Samuel Fagelson.

“Investors were attracted to Northpointe because it offered the opportunity to acquire a well-leased property with a strong tenant base in immediate proximity to Dulles Airport’s cargo entrance.  

"Combined with the capital markets imbalance of scarce supply and strong demand for well-located assets, Northpointe attracted substantial interest from the investment community,” commented Strasburg.

Dulles International Airport, Main Terminal
Founded in 1997, Velsor Properties, LLC is recognized as one of the fastest growing real estate ownership companies in the metropolitan Washington, D.C. area.  

Velsor, through its affiliates, owns and manages 53 industrial, flex and office buildings in Northern Virginia and Maryland.  As of January 2013, Velsor owns and manages more than three million square feet of property.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
 Associate Director
 HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
 Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |