NEWPORT BEACH, CA--(Marketwired - Mar 2, 2015) - For a long time, newswires and headlines have been screaming, "Foreclosures Soar" and "Millions Lose Their Homes." The Sunbelt States, California, Florida, Nevada and Arizona, did indeed lead the nation in foreclosures in the first half of 2009 and shortly thereafter. Experts predicted foreclosures would continue well into 2014 & 2015. Despite this continued doom and gloom, the Sunbelt states are on the rise again. Arizona, Nevada and California, seeing definite signs of progress.
David Crantz, Senior Advisor at Cantor Capital, a Newport Beach California real estate investment firm states, "There is tangible value in today's market. Some Phoenix and California area commercial properties have already sold at or below replacement costs during the recovery, so these assets are on their way back up in value. Real Estate doesn't go to zero." Crantz continues, that the Sunbelt States, although hit hardest by the recession times, were the most likely to recover first.
Mr. Crantz served as lead advisor on the acquisition and recent sale of the Arizona Golf Resort, a jewel of a property based in Mesa, Arizona that was impacted by the Real Estate crash in 2008. "As business people, we need to be leery of reports and headlines that focus only on the negative, without due diligence to the positives that are now occurring, especially in California and Arizona," continues Crantz "We must not allow the negativity to overshadow the positive facts that exist in specific markets. All too often, we tend to correlate what is occurring nationally to more specific local economies. The Sunbelt States have a very different response rate."
The unemployment rate in the Sunbelt State of Arizona remained relatively unchanged during the past five years or so during recovery, consistently below the national average.
"There have been sustained sales gains in Arizona, Nevada and Florida."
In a normal market, housing inventory sometimes averages 6 to 7 months. This is the time it takes to sell all the active listings at the current rate of sales. "Even with a good recovery taking place, the market is not yet back to normal. With a gradual absorption of inventory, we are on the cusp of a general stabilization in home prices," stated Charles McMillan, Former President of the National Association of REALTORS®. "Each home sale pumps an additional $63,000 into the economy through related goods and services," the equivalent of one new job.
"When buying real estate, consider all the facts and trends specific to your target market," advises Crantz. "Today's market is not all negative, positive things are happening, especially in the west and certainly in the Arizona and California areas. We've seen investment opportunities like never before and we may never see them again in our lifetime." Crantz adds, "The goal is always to buy right and buy smart, because bought well is half sold."
Steve Brown, 2014 President of the National Association of REALTORS® says in a 930 word Manifesto co-written by Dale Stinton.
"Your future lies in upgrading and elevating our profession to make you absolutely indispensable to the real estate transaction," they write. "Do not fall in the trap of thinking if we just regain control of the data that everything will go back to the way it was. It won't."
About:
With over 30 years in lending, finance Mr. David Crantz comes from a long lineage of banking background. For three generations his family has been in the business of Lending money for Real Estate. David has in depth experience in investing in commercial and residential real estate as well as decades of lending on properties. He has managed large complex Real Estate transactions, purchased distressed properties and has handled consumer finance loans. With the skill sets acquired in Real Estate investing and lending Mr. Crantz has also developed a keen understanding of Water Rights, Land Entitlements, Health Care, Hospitality, Construction and lending against Distressed Notes. Most importantly, Mr. Crantz understands Real Estate value. Mr. Crantz often doubles his investors' money in Real Estate Transactions with his expertise.
Contact Information:
Media Contact:
Troy Bohlke
480-584-2909