San Diego, CA (PRWEB) September 08, 2012
REMI’s Mr. Nergarden issued his statement today about the declaration recently made by an expert that a real estate recovery has already started, and his opinion is that this will help home sellers because opinions from credible sources may help reassure buyers as well as promote realtor marketing.
CNBC recently conducted an interview with Bill Mack, the founder and chief executive of AREA property. In this interview, Mack claimed that property sales and home prices have recently bottomed out. This means that the long-awaited housing recovery has begun. Mack went on to claim that some areas are even seeing prices get closer to the level they were at before the 2007 housing crisis began. According to REMI, it is particularly visible in areas with many strong rentals such as San Diego vacation rentals. Mack was particularly enthusiastic about multi-family housing, which he felt had the most potential.
William Mack founded AREA Property in 1993. He has long experience in the real estate world and personally owns many different income-producing properties and is a major investor in properties found all over the United States. He is also involved as a board member for many different organizations outside the realm of real estate, including the Guggenheim Foundation and the University of Pennsylvania.
AREA Property partners was originally known as Apollo Property Partners and functions as a real estate investment and asset manager on a global scale. Their particular areas of focus are in North America, Europe, and India. They have offices throughout these areas in major cities. AREA has been involved in billions of dollars worth of real estate investments since 1993 and holds a large amount of assets.
The 2007 housing crisis began when an artificial price bubble that had been building for several years burst, causing housing prices to plummet drastically. This in turn sparked a worldwide financial meltdown. The bursting of the bubble was itself triggered by a rise in subprime mortgage delinquencies and many foreclosures. At the same time, there were fewer securities backed by these subprime mortgages.
Real Estate Marketing Insider today commented on the expert statement that the housing recovery has finally started.
About Real Estate Marketing Insider:
Real Estate Marketing Insider is a publication based out of La Jolla, California. The primary goal of REMI is to provide expert analysis of trends, hot news, and strategies for real estate professionals.