238 Distressed Real Estate Properties Identified in Southern California, Up from 194
14% of Off Market Projects are Pulled in Q2, 2008
San Diego, California September, 2008 As Southern California faces the clean up of the new home market crisis, Capitol investors are looking for opportunities to invest. MarketPointe Realty Advisors, Inc. analysts went back to January of 2006 to identify all Southern California distressed projects, those whose initiative to complete their original plan didn’t come to fruition. The second quarter update is complete; another 41 projects were pulled from the market totaling 3,811 units, bringing the total to 26,519 units in Southern California. Now available through MarketPointe Realty Advisors are two reports, the original report compiling nine quarters of data in ten regions, and the second quarter, 2008 update, both providing detailed information on each project.
“We continue to be contacted by many investors wanting information on distressed properties. An arduous task, it took our analysts some time to come up with the original report extracted from our ResidentialTrends database. As consumer confidence in new home buying continues to wane, 14% of the off-market projects were pulled in the second quarter of 2008,” reported Russ Valone, President, MarketPointe Realty Advisors, Inc.
MarketPointe Realty Advisors, Inc. a San Diego market research firm who has been tracking the new home market throughout Southern California for three decades, painstakingly extracted projects from ten quarters of new home statistics via its ResidentialTrends database, to identify all distressed projects dating back to January of 2006.
The 238 project reports are available new. Also included is a 35 page Southern California 2007 Annual Housing Market Report, providing regional housing statistics, with trending data for the last few years. For information, contact the nearest office, San Diego 619-233-3781, or Orange County 714-528-2554. url:www.marketpointe.com
MarketPointe Realty Advisors provides new housing market statistics throughout California via its ResidentialTrends new-home database and its LandTracker proposed development database, as well as site specific, tailored housing market research and consulting services. Comprehensive “Housing Market Overviews” providing new home sales, pricing, housing inventory trends, future housing supply, and new and leading developments are available for regions across California at www.marketpointe.com/landing/.
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- Russ Valone
- MarketPointe Realty Advisors
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