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.
Sunday, October 30, 2011
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