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san diego apartment reo: Foreclosure and REO Season Has Re-Opened in California: Los Angeles, San Diego, Orange County, Riverside and San Bernardino to Feel It - 09/15/09 04:06 PM
The California Foreclosure Prevention Act, which established a 90-day moratorium on foreclosure that went into effect June 15, ends today. What does this mean for property values and the coming sales activity? Will there be a flood of new properties that come to market? What have lenders learned?
Opinions vary. But, those on the ground are expressing some concern, especially because properties need to be marked to the market. Some glimmer of hope exists -- RealtyTrac’s report for August shows foreclosure activity is down from the same time last year—9% from a year ago and 15% from the previous month. … (0 comments)
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san diego apartment reo: Commercial Loan Delinquency Rate Continues to Climb and Southern California Retail, Apartments, and Offices Owners and Lenders are Feeling It - 09/13/09 12:11 AM
For some historical perspective, at the end of 2007 the CMBS Delinquency Rate stood between 35-50 basis points, whereas by the end of 2008 it increased to over 2%. JP Morgan’s recent August 11, 2009 study claims loans that are with special servicers are now at 6% of all loans, a 200% increase. Experts believe this rate is destined to get worse, believing the rate will climb to 8% by 2009-2010 and between 10-12% by 2011.
Special servicers now are holding $41b in commercial loans with multi-family, retail, and office comprising 80% of the defaults. Where are the majority of … (0 comments)
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