Saturday, February 19, 2011
Thursday, February 17, 2011
Blue Asset Management Selling Millville property
Charles Blumenkehl, managing partner at Blue Asset Management LLC, announced that his fund has listed for sale its remaining Millville asset, a multi family property near the downtown area.
According to Blumenkehl, “Millville is a semi-urban setting that provides for excellent long term investment potential and a strong demand for rentals. However, we decided several months back to focus on our existing and strong northern New Jersey infrastructure more as we divest ourselves of properties like the Millville piece that fall out of our real estate service area.” Blumenkehl continued, “We have listed the property with Steve Crivello of ERA Statewide Realty and are confident in his ability to market the property on our behalf.” For information about the property specifically, Blumenkehl suggests interested parties contact Mr. Crivello at his Medord office directly at 609 714 0050.
According to Blumenkehl, the Millville property is one of app 7 properties currently listed for sale by the fund, which controls real estate equity investments throughout the state. Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage the opportunities made available to real estate investors after the mortgage meltdown took its affect on the Real Estate marketplace. For more information about Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
According to Blumenkehl, “Millville is a semi-urban setting that provides for excellent long term investment potential and a strong demand for rentals. However, we decided several months back to focus on our existing and strong northern New Jersey infrastructure more as we divest ourselves of properties like the Millville piece that fall out of our real estate service area.” Blumenkehl continued, “We have listed the property with Steve Crivello of ERA Statewide Realty and are confident in his ability to market the property on our behalf.” For information about the property specifically, Blumenkehl suggests interested parties contact Mr. Crivello at his Medord office directly at 609 714 0050.
According to Blumenkehl, the Millville property is one of app 7 properties currently listed for sale by the fund, which controls real estate equity investments throughout the state. Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage the opportunities made available to real estate investors after the mortgage meltdown took its affect on the Real Estate marketplace. For more information about Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
Blue Asset Management LLC Finds its Local Footprint Goes a Long Way in Managing its Real Estate Assets
Charles Blumenkehl, managing partner of Blue Asset Management LLC, says his company has built an infrastructure of effective real estate brokers, contractors and other required service providers and a depth of knowledge in their markets in Northern New Jersey that enables Blumenkehls’ fund returns upwards of 30% on certain funds they manage and control.
According to Blumenkehl, “Many national funds have purchased mortgages at deep discounts from their originating lenders. Funds concerned with a lack of local knowledge wouldn’t buy notes that companies like ourselves, who know and specialize in our local northern New Jersey urban and suburban markets, have allowed our fund to purchase properties that were in areas that wouldn’t require higher maintenance or management intensity other properties might.” Blumenkehl continued, “As a result, we have seen yields on some of our investment properties above 30%, and are please to be able to achieve a high level of results for our investors.”
Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage opportunities which arose as a result of the mortgage meltdown that has affected our economy these last few years. For more information about Charles Blumenkehl or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
According to Blumenkehl, “Many national funds have purchased mortgages at deep discounts from their originating lenders. Funds concerned with a lack of local knowledge wouldn’t buy notes that companies like ourselves, who know and specialize in our local northern New Jersey urban and suburban markets, have allowed our fund to purchase properties that were in areas that wouldn’t require higher maintenance or management intensity other properties might.” Blumenkehl continued, “As a result, we have seen yields on some of our investment properties above 30%, and are please to be able to achieve a high level of results for our investors.”
Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage opportunities which arose as a result of the mortgage meltdown that has affected our economy these last few years. For more information about Charles Blumenkehl or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
Wednesday, February 16, 2011
Blumenkehl Credits Obama Administration With Having the Commitment to lead America to Recovery
Charles Blumenkehl, managing partner of Blue Asset Management LLC, believes the current administration is fully committed to the economic recovery of our country and has taken the initiative to put into effect initiatives which will help employment and provide an infusion into the real estate market that will yield returns and low cost to the taxpayer.
According to Blumenkehl, “President Obama has provided the leadership to focus on those areas of our economy that will have the most impact on the impetus and direction of the recovery. That includes the housing recovery, where the administration has focused efforts that have allowed the real estate market to settle without artificial aides and now begin its sustained upward cycle 5 of the past 6 months which will continue through 2011.”. Blumenkehl continued, “Throughout my career I have seen both the thick and the thin of the market, and have always understood one underlying notion, that in the short run anything can happen, but in the long run, and indications are we are headed in that direction, real estate will only move in one direction. As Malcolm Forbes said, God stopped making dirt a long time ago, but hasn’t stopped making people. Eventually, that supply will dry up and the values will continue to increase.”
Charles Blumenkehl is CEO of Blumenkehl Properties, president of Gold Circle Builders, Inc and managing partner of Blue Asset Management LLC. For more information about Charles Blumenkehl, Blumenkehl Companies or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400
According to Blumenkehl, “President Obama has provided the leadership to focus on those areas of our economy that will have the most impact on the impetus and direction of the recovery. That includes the housing recovery, where the administration has focused efforts that have allowed the real estate market to settle without artificial aides and now begin its sustained upward cycle 5 of the past 6 months which will continue through 2011.”. Blumenkehl continued, “Throughout my career I have seen both the thick and the thin of the market, and have always understood one underlying notion, that in the short run anything can happen, but in the long run, and indications are we are headed in that direction, real estate will only move in one direction. As Malcolm Forbes said, God stopped making dirt a long time ago, but hasn’t stopped making people. Eventually, that supply will dry up and the values will continue to increase.”
Charles Blumenkehl is CEO of Blumenkehl Properties, president of Gold Circle Builders, Inc and managing partner of Blue Asset Management LLC. For more information about Charles Blumenkehl, Blumenkehl Companies or Blue Asset Management LLC, log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400
Blue Asset Management Sells Bergenfield Property
Charles Blumenkehl, managing partner of Blue Asset Management LLC, announced his fund has sold a multi family property it owned in Bergenfield, New Jersey.
According to Blumenkehl, “We are pleased to have been able to take title to the property and within just a few weeks, through applying our value enhancement model, were able to sell the property at a substantial return to our investors while still providing the buyers with an outstanding value for competing property in the Bergenfield real estate market." Blumenkehl also credits Realtor Cheryl Napolitano of Coldwell Banker of Bergenfield New Jersey with helping to facilitate the sale. “Cheryl was very helpful in the expeditious processing of this transaction. Her local knowledge enabled us to sell the property at a price point that lent itself to our model in a short period of time." Blumenkehls’ fund has been active in purchasing multi-unit investment properties in primarily northern New Jersey. According to Blumenkehl, the Bergenfield sale is consistent with the funds desire to manage high yield multi family properties that are sizeable enough to lend themselves to the costs of efficient property management while maintaining a high return on properties which it purchases and resells in the short term.
Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage the opportunities made available to real estate investors after the mortgage meltdown took its affect on the Real Estate marketplace. For more information about Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
According to Blumenkehl, “We are pleased to have been able to take title to the property and within just a few weeks, through applying our value enhancement model, were able to sell the property at a substantial return to our investors while still providing the buyers with an outstanding value for competing property in the Bergenfield real estate market." Blumenkehl also credits Realtor Cheryl Napolitano of Coldwell Banker of Bergenfield New Jersey with helping to facilitate the sale. “Cheryl was very helpful in the expeditious processing of this transaction. Her local knowledge enabled us to sell the property at a price point that lent itself to our model in a short period of time." Blumenkehls’ fund has been active in purchasing multi-unit investment properties in primarily northern New Jersey. According to Blumenkehl, the Bergenfield sale is consistent with the funds desire to manage high yield multi family properties that are sizeable enough to lend themselves to the costs of efficient property management while maintaining a high return on properties which it purchases and resells in the short term.
Charles Blumenkehl founded Blue Asset Management LLC in 2008 to leverage the opportunities made available to real estate investors after the mortgage meltdown took its affect on the Real Estate marketplace. For more information about Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the company directly at 973 835-1400.
Monday, February 14, 2011
Spike in Mortgage Rates May Slow Down Housing Recovery
According to Charles Blumenkehl, managing partner of Blue Asset Management, the recent spike in interest rates could dampen the housing recovery
Soon after President Obama made a deal with Republicans to extend the Bush-era economic recovery initiatives, interest rates spiked to their highest levels since June and debt prices sharply fell. According to Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner at Blue Asset Management LLC, “The sudden rise in interest rates to the consumer are disconcerting, Typically, a rise in rate in a normalized market could increase an urgency for buyers to get into the market before rates have a meaningful impact on their buying power.. But in the current market, real estate sales are not responding well to the incentives that are not being offered. With unemployment hovering close to 10% in most of the county, it is likely higher interest rates will dampen any meaningful real estate recovery in the first quarter of 2011”.
Blumenkehl did note that the decrease in demand has varied throughout the country, and pointed to reports that actually noted increases in certain markets including an increase in value of 3% in the New York area for 2009, as an indicator that while it may take longer, ultimately the real estate market will recover.
Blumenkehl added. “God stopped making dirt a long time ago, but hasn’t stopped making people, In the short term, anything can happen, but history has shown that in the long term, real estate will only become more scarce and as a result more valuable.”
For more information about Charles Blumenkehl or Blue Asset Management, log on to their companies website at www.bluemanagementllc.com or call the company directly at 973-835-1400
Soon after President Obama made a deal with Republicans to extend the Bush-era economic recovery initiatives, interest rates spiked to their highest levels since June and debt prices sharply fell. According to Charles Blumenkehl, CEO of Blumenkehl Companies and managing partner at Blue Asset Management LLC, “The sudden rise in interest rates to the consumer are disconcerting, Typically, a rise in rate in a normalized market could increase an urgency for buyers to get into the market before rates have a meaningful impact on their buying power.. But in the current market, real estate sales are not responding well to the incentives that are not being offered. With unemployment hovering close to 10% in most of the county, it is likely higher interest rates will dampen any meaningful real estate recovery in the first quarter of 2011”.
Blumenkehl did note that the decrease in demand has varied throughout the country, and pointed to reports that actually noted increases in certain markets including an increase in value of 3% in the New York area for 2009, as an indicator that while it may take longer, ultimately the real estate market will recover.
Blumenkehl added. “God stopped making dirt a long time ago, but hasn’t stopped making people, In the short term, anything can happen, but history has shown that in the long term, real estate will only become more scarce and as a result more valuable.”
For more information about Charles Blumenkehl or Blue Asset Management, log on to their companies website at www.bluemanagementllc.com or call the company directly at 973-835-1400
Blumenkehl Supports National Association of Realtors "Home Ownership Matters" Campaign
Charles Blumenkehl, CEO of Blumenkehl Properties and managing partner at Blue Asset Management LLC, is supporting the "Home Ownership Matters" campaign currently being initiated by the National Association of Realtors.
According to Rismedia, a real estate industry news source, owner-occupied home ownership accounts for 67% of all homes built in the United States, and 15% of the countries Gross Domestic Product (GDP) results from purchases made as a result of buying a home. "Over $60,000 is pumped back into the economy", according to the 1/14/11 Rismedia article, "including furniture, improvements and related items once a home is purchased".
According to Charles Blumenkehl, "Home ownership is a vital part of our economy and provides jobs and stability to the regions. So often, in my Real Estate career, I encountered retirees who were able to retire comfortably solely because of the investment their home, paid off over their years of living there, represented in their financial plan. As Real Estate goes, so goes the country." Blumenkehl continued, "I would strongly advocate a little incentive similar to the one ended in June by the Obama administration. The initiative then helped the economy regain some footing and create more jobs, and the tax monies that flow from the home purchase will more than pay for the same results if the government reinstates even a watered down version of the home buying incentive."
For more information about Blumenkehl Properties, Charles Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the New Jersey based company directly at 973-835-1400.
According to Rismedia, a real estate industry news source, owner-occupied home ownership accounts for 67% of all homes built in the United States, and 15% of the countries Gross Domestic Product (GDP) results from purchases made as a result of buying a home. "Over $60,000 is pumped back into the economy", according to the 1/14/11 Rismedia article, "including furniture, improvements and related items once a home is purchased".
According to Charles Blumenkehl, "Home ownership is a vital part of our economy and provides jobs and stability to the regions. So often, in my Real Estate career, I encountered retirees who were able to retire comfortably solely because of the investment their home, paid off over their years of living there, represented in their financial plan. As Real Estate goes, so goes the country." Blumenkehl continued, "I would strongly advocate a little incentive similar to the one ended in June by the Obama administration. The initiative then helped the economy regain some footing and create more jobs, and the tax monies that flow from the home purchase will more than pay for the same results if the government reinstates even a watered down version of the home buying incentive."
For more information about Blumenkehl Properties, Charles Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or call the New Jersey based company directly at 973-835-1400.
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