Short Sales on California Investment Property

Yes. Commercial Investment Properties in California are being unwound, in and out of court. Remember, fast Chapter 11 proceedings have helped many companies. The more the deals with creditors can be structured to identity disagreements, the quicker a court can process the chapter 11 and this is a key factor. When the business owner can focus on his business, everyone can benefit. Lawyers know this. Brokers know this. Judges know it too. Creditors... hmm. Creditors tend to hire bean counting, form filling, money draining middlemen. The deals can be delayed by this. If the deal can be structured on a good premise with a general outline, and it can keep moving forward while the diligence and processing is taking place, then it will work. If the creditors kill the clock and stall the negotiation while they count their beans and check the initials on page 100989 paragraph B, then they lose their buyers whom find a better deal. In a falling market the methods of the creditors work against all common sense and tend to take markets lower. I can help best as part of a good team. The lawyer and accountant I work with need to be savvy about working in a California falling commercial real estate market. The other fact is this, many who set out to sell, will settle on new loan terms instead. Many who set out to change loan terms, will short sell, and some will deed back in lieu of foreclosure. The last remedy, is to not agree and to continue the disagreement after the foreclosure. Investment real estate is not your home. So big or small, if it is not your home... the rules say you negotiate under separate circumstances from the rules for your residence.   If you are not in court proceedings, get a lawyer, a California Investment Realtor and accountant, and make your plan now... before court. You may never go to court if your plan works. - Mike Jaeger Live -

Published at - Mike Jaeger Live blog -

May 14, 2010 - Sacramento California - 4,026 Foreclosure Sales in only 60 days.

- WOW -  4,026 ARE A LOT OF PROPERTIES FACING FORECLOSURE AUCTIONS - ALL WITHIN 60 DAYS - JUST IN SACRAMENTO COUNTY... This is a big number in any county, or even for a state, or even for our nation. What does this tell us ? 
The number of foreclosure trustee sales, set to be sold at auction between May 7, 2010 through July 7, 2010 are an astounding 4,026 as I write this blog. These are; sold to the highest bidder, postponed, canceled, or sold to the beneficiary. If sold to a lender, they are mostly managed by loan service companies or banks. Real estate owned inventories are properties, which are then sold at REO sales by brokers, with some exceptions. Why is 4,026 such a large number of properties to reach the final stage of foreclosure within a 60 day period. There is a 90  period of time allowed for mitigations, reinstatements, work outs or other remedies after a lender begins the first stage of foreclosure, which is filing a notice of default  in California. After this a lender can begin the trustee sale process to perfect the foreclosure, in the State of California. These 4,026 distressed properties are now in a final stage of foreclosure... watching this number is a good way to keep a finger on the pulse of the local real estate market  I will post more about this over the weekend, at SacramentoShortSaleBlogspot which you may want to visit.  http://www.SacramentoShortSale.blogspot.com - Zowie - 


4,026 auctions in only 60 days.
Sourced at LPG on 5-14-10.
Mike Jaeger Live - May 14, 2010