Foreclosure All Over The Map

Names Big and Small Among The List
Everyday, many homeowners on all different levels of the economic spectrum fall victim to the foreclosure crisis. Some have bad loans, while others are unemployed or have fallen underwater due to decreasing property values. While these stories are familiar, perhaps it is worth a look now at some of the other places in society where foreclosure is hitting.

The Infinity II Lofts, a potential 69-story building in Miami’s Brickell area, is now the site of a new foreclosure complaint to the tune of more than $6 million. High end lofts in once sure bets places like Miami have suffered during the downturn, and this example is no anomaly. For example, Talbott Realty in Boca Raton has been hit repeatedly by foreclosure actions.

Across the country, California is no different. L.A. County and San Diego County have seen foreclosures skyrocket amongst hotels, including most recently the St. Regis Monarch Beach Resort. With business and leisure travel both down nationally and worldwide, expanded inventory created in the earlier part of the decade is weighing heavily on the financials.

Uvestor Opportunity:
If you’re a local real estate investor who has been hit hard by the economic downturn, there is no shame. Some of the biggest of the big are dealing with the same issues. A struggling economy with high unemployment and serious lending issues has been a tough backdrop for real estate investment during the past couple of years.

Continue to squeeze money out of investments where possible. If selling is not going well, possibly renting will go better. If money is tight but a property will sell, unload it. There are a variety of ways to juggle through the tough times, and most investors have the instincts to do it. The trick is putting in the work and taking the leap of faith.