San Diego, CA (PRWEB) December 16, 2009
As the residential property market stabilizes, the wave of San Diego REO commercial foreclosures in San Diego is just beginning. Many banks have delayed foreclosure on troubled properties to avoid major write downs on their books that will affect their reserve requirements. However, while only a small number of commercial properties were foreclosed upon in the last two years, 2010 is poised to be a bumper year for investors seeking to capitalize on troubled commercial assets.
While 48 commerical properties are currently bank-owned, another 62 San Diego commercial foreclosure properties are scheduled for auction in the next 90 days. In addition, 122 San Diego commercial properties are in the pre-foreclosure phase. Owners of these properties in pre-foreclosure have received a Notice of Default to alert them that a foreclosure auction is pending. As banks can no longer carry these unpaid loans, expect a dramatic increase in foreclosed commercial real estate in San Diego. That's good news for shrewd investors who now have the opportunity to take advantage of these distressed properties.
MBA Commercial, Inc. is a leader in San Diego commercial real estate. Its REO division provides management and disposition of bank-owned properties. MBA Commercial offers a turn-key solution for property management, leasing and sales, specializing in the maintenance and liquidation of San Diego commercial bank owned properties.
The REO Asset Management division is committed to providing the highest quality service. MBA Commercial can be reached at 888-248-6222.
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