71 San Diego Distressed Properties Found for Investors
Six New-Home Developments pulled from Market Q2, 2008
San Diego, California September, 2008 - As Southern California rides the storm of the new home market crisis, MarketPointe Realty Advisors, Inc. analysts went back to January of 2006 to identify projects whose initiative to complete their original plan didn’t come to fruition. In San Diego County, as of second quarter, 2008, 71 projects were identified as incomplete, or pulled off market, a total of 8,037 originally planned units, providing potential investment opportunities for new investors. “Although some developers may not want to have their distressed projects listed, by identifying the projects on the open investment market, it may provide them with an exit strategy, facilitating recovery”, remarked Russ Valone, President, MarketPointe Realty Advisors, Inc.
Research analysts at 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 went through nine quarters of new home statistics in 10 Southern California regions. Pulling from its ResidentialTrends database, the first issue identified all Off-Market projects dating back to January of 2006. In the second issue, second quarter, 2008, 41 Southern California projects were added to the Off-Market report. In San Diego, an additional six projects were pulled from the market in the second quarter, with the total number of 8,037 units originally slated to be sold.
The 238 project reports are available through MarketPointe Realty Advisors, Inc. in which each project is detailed. The report also includes a 35 page Southern California 2007 Annual Housing Market Report, providing housing statistics for each region, with trending data for the last few years. For more information, contact one of the offices, 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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