Alternatives to Foreclosure – Part 1 of 5

Even if the government tells you the recession is over, many of you are still feeling it. With over 14% unemployment in Miami Dade County and over 12% statewide, you are not alone. These harsh statistics are well above national averages and they also do not account for underemployment (people who simply stopped applying for unemployment benefits) nor does it account for people who have had their hours and pay checks reduced. If you are a small business owner, you may be feeling it the most, and if you happen to own commercial property that you use for your business, it may be hard to pay your mortgage, property taxes and insurance, while also keeping up with the overhead of your business. If you are an investor in commercial property, small businesses may be your tenants, and your vacancy may have increased significantl and you are likely receiving 1/3 to 1/2 less from your current rent roll.  As a result your investment property may have a negative cash flow. In either case, whether a small business owner or an investor you may be forced to stop making payments, and in some cases your lender may have already taken action.

These are uncharted waters for many, because a recession typically lasts for 2 to 4 years out of a 15 year economic cycle, in which case the majority of the population is trained to handle the boom cycle of the economy. So it is helpful to have someone who understands the process and knows your options, and can navigate these uncharted waters to help mitigate your loss. International Port of Calls around the world require that ships be handled by local tugboat captains who know the local waters and tides, and who understand where the shallows and eddies exist, so that they can provide a safe berth. Likewise in these difficult times, it is best to have a professional who has relationships with your lender and who understands their concerns, their culture, their processes and most importantly their language. Who better to do this than your trusted commercial real estate advisor who knows your property, knows the market, knows additional lending sources, and knows buyers and tenants. A Commercial Real Estate Advisor can act as a third-party communicator to all the various entities involved, which is something your attorney can not do.

Keep in mind that not all Advisors are equal, so be sure to use someone who is currently dealing with banks and assisting their customers in the various stages of foreclosure. Sperry Van Ness is a national platform that is built to service commercial real estate at the highest possible levels. Our Asset Recovery Team is thoroughly versed in the various options that an individual has to mitigate loss.  We can consult with you to solve your commercial real estate needs, so that your business can stay on track and continue to operate. While we are not lawyers, we know the best small-business lawyers and other vendors who are key to forming a successful team to implement your strategy. The longer you wait, the less options you have, and the less time you have to exercise those options.  Call our office now and receive a complimentary valuation of your property and your situation. We can connect you with the right professionals, or if you already have your team in place, we can compliment them with the additional tools and skill sets we bring to the table.   Call Matt at 305-490-6526 and find out more about how you can improve your situation, or if nothing else to talk about the market and the economy, and what is in store for Commercial Real Estate in 2011. 

Stay Tuned for Part 2…

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CCIM Outlook Conference 2011

A CCIM (Certified Commercial Investment Member) is one of the top Commercial Real Estate designations and memberships in the world.  As CCIM President Elect for the Miami District I can tell you that we have a great Board and great members in the South Florida market.  We host educational courses throughout the year, but our most important event is definitely the Outlook Conference held every year in January with the purpose of providing a Commercial Real Estate road map for the year to come.  We break down each sector: Industrial, Office, Retail, Multifamily, and an Economic Forecast, as well.  Take a look at the headliners this year and download the program.  2011OutlookConferenceProgram1.12.11

FDIC Real Estate Summit – Sperry Van Ness Sponsors

 Sperry Van Ness recently sponsored another all-star event that included Special Servicers, Receivers, Asset Managers, Workout Specialists and a host of other professionals who are controlling the majority of commercial real estate that is transacting in today’s choppy market.  For more details on what was said, and what we can expect for 2011 don’t hesitate to give our office a call.

Distressed Real Estate Summit - Florida - January 27, 2011

Hi Matthew,

There is Still Time to Register for the Distressed Real Estate Summit!

Pre-registration is still available for the Distressed Real Estate Summit in Miami, FL on January 27.  As part of your registration, enjoy networking opportunities on Wednesday and Thursday to connect with investors, banks, servicers, sellers, and other market participants.

Flying in from NYC?  Flights to FLL for as little as $200 through Hotwire.com.

What You Will Learn – topics covering office, retail, hospitality, multi-family condo and residentia real estate include:

  • Pre-Conference Workshops: When Workouts Don’t Work Out: Litigation, Receivers, Lender Liability and More; and Tax Liens Workshop: GFI Tax Receivables
  • The Real Estate Capital Markets: Where the Debt Capital Is and How to Get It
  • State of the (Distressed) Union: Where We Are and Where We Are Headed
  • Workouts & Recapitalizations: Rescue Financing & Restructuring Options
  • Distressed Retail: Creating Value Through Asset Repositioning in Challenging Times
  • Special Servicing: Unleash the Deal Flow!
  • Hot(el) Pursuit: Distressed Hospitality Properties
  • The Residential Market in Florida and the Southeast
  • Roundtable Discussions: Multifamily/Condo, Working with Banks, Tax Lien Trading Strategy, Bloomberg CRE Data, Distressed Hospitality Properties
  • Office Properties in the Southeast and Florida Markets
  • Predicting and Navigating the Regulatory Landscape
  • Acquisitions: How Carnage Translates into Opportunity
  • Multifamily Properties: Distressed Opportunities in Rentals and Condos
  • FDIC Special Asset Sales
  • Working with and Buying Assets from Banks
  • Cocktail Reception at Marenas Beachfront Resort
Visit the Conference Website to view the full agenda, see the list of speakers, get directions to the venue, book hotel accommodations, and register.

“The Distressed Real Estate Summit is a conference designed by and for commercial and residential real estate executives…the agenda will speak to the issues unique to your area. If you work in this region, make plans to attend to find out who is selling, and what it takes to get deals done in a distressed environment.”

— Fred B. Córdova, III, SVP, Colliers Asset Resolutions Team


This conference is produced by GreenPearl Events

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(646) 862-9393

  DISTRESSED REAL ESTATE SUMMIT FLORIDA

Thursday, January 27, 2011
Kovens Conference Center

Miami, Florida

Register online now or call us at (646) 862-6136 x 1.

 
Event Information, Speaking & Sponsorship Opportunities:

Ryan Slack

 

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Bloomberg
Colliers
CPS
Ernst & Young
Foresite Realty
GFI Group
Massey Knakal
Payton & Associates
Sperry Van Ness
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Real Capital Analytics, Esteemed Economist, Dr. Chandan Debriefs Sperry Van Ness Advisors in a Yearly Review and Forecast

Premier real estate economist, Dr. Sam Chandan, from the Wharton business school and Real Capital Analytics recently debriefed the Sperry Van Ness family on his thoughts moving into 2011 and beyond. Dr. Chandan is well regarded within our ranks and he speaks to us on a quarterly basis, providing us key indicators and trends that give our clients the edge they need to make decisions. Click Here to listen to our recorded webcast and find out more about what buying activity he saw in the month of December, the direction of unemployment, and what asset classes and geographies are going to be off to the races in 2011. Feel free to call our office for more details on his next speech, and to review slides from his presentation.