New York, New York (PRWEB) May 31, 2012
In recent years, good news from the real estate industry has proven difficult to come by. A new report from CBS is bucking that trend, however. According to the latest data, foreclosure activity is at its lowest point since 2007—the same year that the housing crisis began. As of April, the number of repossessions, scheduled auctions, and default notices had fallen by 5% from the month prior. These figures have garnered much enthusiasm from members of the real estate industry. Jonathan Dieguez, the founder of New York-based Absolute Capital Homes, has responded to these new figures in a press statement—and while he urges caution in interpreting the data, his overall outlook is an optimistic one.
Dieguez, a real estate veteran, is quick to point out that any new figures should be interpreted in light of regular economic cycles. “The duration of each general cycle in the real estate market typically lasts 8-10 years,” he says. “Considering housing prices hit their peak in 2007, history would state that by 2017 we should expect a turnaround.”
The Absolute Capital Homes executive does urge a certain level of caution. “On a side note, be careful believing everything the general media tells you,” he says. “Similar to the U.S. government, the media continually suppresses pertinent, candid data and forthcoming indicators in attempts to boost economic and consumer morale.”
His words of caution aside, however, Dieguez says the new figures, reported by CBS, are ultimately very positive. “With that being said, it’s good to finally see big banks recognizing and appreciating the fact real estate investors are the key to offloading toxic, non-performing assets from their balance sheets, via short sale transactions,” he opines. “From personal experience, I believe we are witnessing the bottoming of the housing sector with a significant transition anticipated for 3rd Quarter 2014.”
Dieguez’ comments affirm the findings of the CBS report, which notes that many homeowners, eager to avoid foreclosure, are taking advantage of the short sale option—and that many banks are increasingly willing to allow for a short sale over a foreclosure.
Absolute Capital Homes is a company that buys many pro-foreclosed and bank-owned properties with the goal of rehabilitating them, but their services also help prospective homeowners, making these refurbishes properties easier to afford, through Rent-to-But programs as well as credit repair.
Absolute Capital Homes is a privately owned, fully integrated real estate investment firm, headquartered in New York but maintaining operations across the East coast. The company’s chief aim is to generate attractive returns through investment in residential and commercial real estate, capitalizing on the rising inventory of distressed properties held by private and public financial institutions. Absolute Capital Homes buys select bank-owned (REO) and pre-foreclosed properties that require rehabilitation, then partners with local contractors to perform the necessary work, and utilize seasoned realtors to list and sell these properties in a prompt fashion. The company, founded by Jonathan Dieguez, is also passionate for helping individual clients become homeowners, whether through credit repair or Rent-to-Buy programs.