A public auction is a sale in which property or merchandise is sold via a competitive bidding process that is open to the general public. It is often used in real estate to expedite the selling process, especially in cases of foreclosure or hardware sales.
Realtor Property Resource (RPR) is an Internet-based data and information service designed exclusively for REALTORS®. It provides a comprehensive database that includes sales data from Multiple Listing Services (MLS), mortgage loans and foreclosure details, demographics, as well as additional government and private data related to real estate. The service is accessible for free to members of the National Association of REALTORS® (NAR).
Shadow inventory refers to the potential supply of homes that are kept off the market by their owners or banks, waiting for more favorable market conditions such as improved demand and higher prices.
