PHOENIX, AZ -- In light of the radical changes recently in the Real Estate market over the past two years, America's entrepreneurs find opportunity to turn market crisis to their advantage.
Businesses of every type are seeking to maximize ways to benefit from opportunities created from chaos. Everything from loan modifications to buying foreclosed homes, capitalists are playing their roles to help stimulate the American economy and at the same time justify America as the "land of opportunity."
Troy Bohlke, CEO of Niche Focus Group, an Advertising firm specializing in creating Real Estate investment packages for Real Estate Funds' states, "I am amazed with the positive attitudes of these aggressive entrepreneurs. They see treasures in this marketplace." It is inspiring. After doing extensive research required to develop our clients investment packages, I learned quickly that when the market at bottom is exactly when our clients make "great buys." Big profits are made available to those investors with liquidity, timing, and executing a well designed plan. Our Fund clients are buying up as much real estate as they can get their hands on."
Billionaire real estate mogul, Donald Trump agrees that this is the best time to buy. "It's an amazing time to buy," Trump said. "This is the best time I've ever seen to buy both real estate and probably other things. This is one of the great opportunities."
The Current Situation
According to the Metropolitan Foreclosure Market Report for Q1 of 2009, California, Florida, Nevada and Arizona accounted for the 26 highest foreclosure rates among metro areas with a population of 200,000 or more. "The metro areas with the highest levels of foreclosure activity in the first quarter of 2009 paint a picture of concentrated problems in a relatively small number of hard hit areas," said James J. Saccacio, chief executive officer of RealtyTrac, a California based company that tracks foreclosure filings.
For example, one in every 43 Nevada households received a foreclosure filing during the second quarter, the highest foreclosure rate among the states and nearly four times the national average. Foreclosure filings were reported on 24,657 Nevada properties during the quarter, up 26 percent from the previous quarter and up 147 percent from the first quarter of 2007.
Foreclosure filings were reported on 202,599 California properties during the second quarter, the highest total among the states and a rate of one in every 65 households -- the nation's second highest state foreclosure rate. Foreclosure activity in California increased 19 percent from the previous quarter and was nearly three times the level reported in the second quarter of 2007.
Despite these staggering statistics, Bohlke and his team at Niche Focus Group are booming with business from optimistic Real Estate investors pooling their money together in funds. Our investors and clients are convinced that the Sunbelt states, although the hardest hit, are also the most likely to bounce back the fastest on the real estate upswing.
"Sales activity appears to be increasing in some of the hardest hit markets as home prices have fallen to levels that are attractive to first-time homebuyers and investors," Stated Saccacio of RealtyTrac. 45% of the transactions were distressed sales, foreclosures and short sales, which lead to the decline in the median price. However, these price drops lead to the largest gain in sales volume for the fourth quarter particularly in the Sunbelt states; Nevada, up 133.7 percent, followed by California, rose 84.7 percent, Arizona, up 42.6 percent and Florida with a 12.5 percent increase.
Bohlke states that in adapting to these trends, that his firm has been packaging offerings for Real Estate Funds both big and small. "We find that the hottest target seems to be foreclosed single family homes. There is a plethora of high quality properties available at unheard of low prices. Since Real Estate is a tangible asset, many people are now looking to move their money out of the volatile stock market and into tangibles like gold and real estate until the market stabilizes." That's good for Niche Focus Group" Bohlke says.
Troy Bohlke
602-463-3124
troy@nichefocusgroup.com
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Source: Niche Focus Group
CONTACT: Troy Bohlke of Niche Focus Group, +1-602-463-3124,
troy@nichefocusgroup.com
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