Lenders Push Delinquent Loans More Aggressively
According to DataQuick News "After dropping to a three-year low in the second quarter of this year, the number of California homeowners being pulled into the foreclosure process snapped back to prior levels over the last three months."
A total of 71,275 Notices of Default (NoDs) were recorded at county recorders offices during the third quarter. That was up 25.9 percent from 56,633 for the prior three months, and down 14.4 percent from 83,261 in third-quarter 2010, according to San Diego-based DataQuick. "The way it looks right now, it's reasonable to expect default filings to run at a somewhat higher level than we saw earlier this year. Obviously, some lenders and loan servicers have begun to plow through their backlogs of delinquent loans more aggressively," said John Walsh, DataQuick's president.
The fact that lenders are pushing delinquent loans in the market, is good news for value investors with cash who are willing to pick up these assets at very low valuations. Markets often over-react to bad news and excess supply, creating an opportunity to invest in distressed properties at very favorable terms. Floyd Associates will continue to identify and acquire such properties.
To find out if our real estate investment strategies are right for you, please contact us by email at info@floyd-associates.com or by phone at +1 (310) 300-0890.
To read more about Floyd Associates please visit www.floyd-associates.com.
Showing posts with label distressed real estate fund. Show all posts
Showing posts with label distressed real estate fund. Show all posts
Tuesday, November 8, 2011
Sunday, October 30, 2011
Floyd Associates Continues to Acquire Residential Real Estate Assets in 2011
Southern California's Distressed Real Estate Market Provides Exceptional Investment Opportunities
Floyd Associates announced that its real estate investment arm continued to acquire distressed residential real estate assets during the first three quarters of 2011.
"We continue to identify and invest in real estate in Southern California. From a value investment stand point, we have not seen opportunities like these in many years and our goal is to build a solid portfolio of income properties that provide us and our investors with steady income and promising capital gain potentials," said Mr. Nima Montazeri, Floyd Associates' Managing Director. "2011 has so far been a very active year for us. We have added a few properties to our portfolio and are in line to execute a few more acquisitions by the end of the year," he added.
In September, Southern California home prices continued their sideways-to-downward slide, with the region's median sale price falling below the year-ago level for the seventh consecutive month, a real estate information service reported. According to DataQuick, today's median price is also undermined by the Southland's extraordinarily weak new-home market. Sales of newly built homes, which typically sell for more than resale homes, totaled 1,056 last month, down 24.9 percent from a year ago and the lowest for the month of September in DataQuick's records back to 1988. Many of the sub-$300,000 deals were distressed properties, which accounted for more than half of the Southland resale market last month. Nearly one out of three homes resold last month was a foreclosure, while close to one in five was a "short sale."
Such statistics very clearly show the glut in the market and underscore the concentration of distressed properties in the sub-$300,000 asset class. We believe that such pressures combined with the extreme difficulties for many families to qualify for financing, have depressed prices to levels below the underlying assets' fundamental values. This in turn creates long term solid investment opportunities for investors who want to realize above-average returns while taking low risks.
To find out if our real estate investment strategies are right for you, please contact us by email at info@floyd-associates.com or by phone at +1 (310) 300-0890.
To read more about Floyd Associates please visit www.floyd-associates.com.
NOTICE: THIS IS NOT AN OFFER TO BUY OR SELL SECURITIES. THIS IS NOT A SOLICITATION FOR INVESTMENTS.
Floyd Associates announced that its real estate investment arm continued to acquire distressed residential real estate assets during the first three quarters of 2011.
"We continue to identify and invest in real estate in Southern California. From a value investment stand point, we have not seen opportunities like these in many years and our goal is to build a solid portfolio of income properties that provide us and our investors with steady income and promising capital gain potentials," said Mr. Nima Montazeri, Floyd Associates' Managing Director. "2011 has so far been a very active year for us. We have added a few properties to our portfolio and are in line to execute a few more acquisitions by the end of the year," he added.
In September, Southern California home prices continued their sideways-to-downward slide, with the region's median sale price falling below the year-ago level for the seventh consecutive month, a real estate information service reported. According to DataQuick, today's median price is also undermined by the Southland's extraordinarily weak new-home market. Sales of newly built homes, which typically sell for more than resale homes, totaled 1,056 last month, down 24.9 percent from a year ago and the lowest for the month of September in DataQuick's records back to 1988. Many of the sub-$300,000 deals were distressed properties, which accounted for more than half of the Southland resale market last month. Nearly one out of three homes resold last month was a foreclosure, while close to one in five was a "short sale."
Such statistics very clearly show the glut in the market and underscore the concentration of distressed properties in the sub-$300,000 asset class. We believe that such pressures combined with the extreme difficulties for many families to qualify for financing, have depressed prices to levels below the underlying assets' fundamental values. This in turn creates long term solid investment opportunities for investors who want to realize above-average returns while taking low risks.
To find out if our real estate investment strategies are right for you, please contact us by email at info@floyd-associates.com or by phone at +1 (310) 300-0890.
To read more about Floyd Associates please visit www.floyd-associates.com.
NOTICE: THIS IS NOT AN OFFER TO BUY OR SELL SECURITIES. THIS IS NOT A SOLICITATION FOR INVESTMENTS.
Subscribe to:
Posts (Atom)
