With mortgage restrictions and economic uncertainties making home purchasing difficult for many in the current real estate market, an old real estate marketing strategy is finding its way back to popularity amongst potential sellers and buyers who wish to enter the real estate market but aren’t in a position to close quickly.
According to Charles Blumenkehl, managing partner of Blue Asset Management, the lease to buy scenario has become an acceptable alternative for some of today’s market participants. Blumenkehl said “With prices as attractive as they are, potential buyers are seeking to lock into a purchase without having to fully commit to closing. At the same time, sellers who find they are carrying the costs of properties they no longer wish to own are finding this alternative attractive by allowing the mortgage and most expenses to be covered by their prospective buyer as they await the point in the market that the buyer can potentially close on the property.” Blumenkehl explained “By leasing to buy, typically a buyer will put up a small non-refundable deposit which will be applied against their ultimate purchase price, and then are given the opportunity to accumulate enough of a down payment over the course of their occupancy by paying slightly above current market rents and having the overage added to their down payment.” In so doing, Blumenkehl says that buyers can meet the larger down payment requirements imposed by lenders, and if they don’t want to buy at the end of an agreed upon period of time, they can simply walk away without being saddled with a mortgage on property they decide not to own.
Simultaneously, sellers will either have their houses sold at the end of the occupancy period, or at least will not have to carry the expenses of a vacant mortgaged home while they wait for the housing market to recover. “The result,” Blumenkehl said, “is a win-win for both parties, one by locking into an attractive price and reasonable terms which could enable them to become homeowners when they would otherwise end up leasing without the ability to accumulate equity or take advantage of low housing process in today's market, while sellers are relieved of the pressure of carrying vacant property in these difficult economic times.”
Blumenkehl points out that even if the market recovers and the sellers can get more money for their homes in a year or two, the amount they would have to spend on payments for a vacant home would be more than the potential increase in sales price in many cases. Blumenkehl said that his fund has considered lease to buy on certain properties they currently own, and are seeing more of these type transactions now than they have in prior years.
Charles Blumenkehl is president of Blumenkehl Properties, owner/operator of rental properties throughout northern New Jersey, and managing partner of Blue Asset Management, buyer and seller of non performing mortgages, distressed and investment real estate. For more information about Mr. Blumenkehl and his companies, or to learn more about lease to buy opportunities currently available through Blumenkehl, log onto the company website at www.blueassetmanagementllc.com or call the company at 973 835-1400.
Monday, February 28, 2011
Monday, February 21, 2011
Blue Asset Management Sees Home Prices Stabilizing in New Jersey
Charles Blumenkehl, managing partner for Blue Asset Management LLC, says home prices in New Jersey have been stabilizing and are even experiencing gains in certain markets.
According to Blumenkehl, “Home sales have been recovering since the fourth quarter of 2010, and the trend is continuing into 2011. Available inventory is being absorbed, distressed properties in many suburban markets are starting to slow down, and with a decrease in housing inventory the real estate market is headed toward recovery.” Blumenkehl continued, “As the employment situation improves, housing will improve. It is now just a matter of time until markets normalize. With interest rates as low as they are, and prices as attractive as they are, it is hard to imagine a better home buying opportunity than the present”.
Blumenkehl points to a recently released survey by the National Association of Realtors which showed the median priced home increasing from $170,300 to $170,600 from the fourth quarter of 2009 to the same period in 2010. The same survey noted that home prices have increased in over half of the 152 Metropolitan Statistics Areas tracked by the study in the fourth quarter of 2010. Blumenkehl added, “As a major metropolitan market serving the New York and local employment hubs, New Jersey is poised for a market rebound in 2011 which will have far reaching effects into the local economies. Increases in consumer spending and employment resultant from these increases will serve as a springboard for further economic recovery in the area as the year unfolds.”
Blue Asset Management was founded by Charles Blumenkehl in 2008 to leverage the real estate investment opportunities which were made available through the mortgages and real estate meltdown in the area over the past few years. For more information about Charles Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or contact Blumenkehl directly at 973 835-1400.
According to Blumenkehl, “Home sales have been recovering since the fourth quarter of 2010, and the trend is continuing into 2011. Available inventory is being absorbed, distressed properties in many suburban markets are starting to slow down, and with a decrease in housing inventory the real estate market is headed toward recovery.” Blumenkehl continued, “As the employment situation improves, housing will improve. It is now just a matter of time until markets normalize. With interest rates as low as they are, and prices as attractive as they are, it is hard to imagine a better home buying opportunity than the present”.
Blumenkehl points to a recently released survey by the National Association of Realtors which showed the median priced home increasing from $170,300 to $170,600 from the fourth quarter of 2009 to the same period in 2010. The same survey noted that home prices have increased in over half of the 152 Metropolitan Statistics Areas tracked by the study in the fourth quarter of 2010. Blumenkehl added, “As a major metropolitan market serving the New York and local employment hubs, New Jersey is poised for a market rebound in 2011 which will have far reaching effects into the local economies. Increases in consumer spending and employment resultant from these increases will serve as a springboard for further economic recovery in the area as the year unfolds.”
Blue Asset Management was founded by Charles Blumenkehl in 2008 to leverage the real estate investment opportunities which were made available through the mortgages and real estate meltdown in the area over the past few years. For more information about Charles Blumenkehl or Blue Asset Management LLC log onto the company website at www.blueassetmanagementllc.com or contact Blumenkehl directly at 973 835-1400.
Sunday, February 20, 2011
Blue Asset Management in Market for New Jersey Apartment Buildings
Blue Asset Management LLC, buyer of mortgages, distressed and investment real estate in New Jersey, is seeking to buy apartment complexes and buildings in northern New Jersey.
According to Charles Blumenkehl, managing partner for Blue Asset Management LLC, “We believe we are reaching the bottom of the real estate market. The opportunity to buy residential rental properties and the demand for rentals are as good as we have seen in many years.” Blumenkehl continued, “We are aggressively seeking to add to our existing inventory of residential rental properties and are scouring the northern New Jersey market for opportunities.”
Blumenkehl says his group currently owns over 30 buildings in the northern New Jersey market, including 6 or more buildings each in Hudson, Bergen, Passaic and Morris Counties. Blumenkehl added, “With the residential rental market strengthening substantially, we can’t get apartments quick enough.” Blumenkehl invites anyone who has apartment inventory for sale or knows of buildings for sale in northern New Jersey to contact him directly at the main office of Blue Asset Management LLC in Wayne New Jersey.
Blue Asset Management LLC was founded by Blumenkehl in 2008 to leverage the opportunities which became available as a result of the real estate and mortgage meltdown of the 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 Mr. Blumenkehl directly at 973 835-1400.
According to Charles Blumenkehl, managing partner for Blue Asset Management LLC, “We believe we are reaching the bottom of the real estate market. The opportunity to buy residential rental properties and the demand for rentals are as good as we have seen in many years.” Blumenkehl continued, “We are aggressively seeking to add to our existing inventory of residential rental properties and are scouring the northern New Jersey market for opportunities.”
Blumenkehl says his group currently owns over 30 buildings in the northern New Jersey market, including 6 or more buildings each in Hudson, Bergen, Passaic and Morris Counties. Blumenkehl added, “With the residential rental market strengthening substantially, we can’t get apartments quick enough.” Blumenkehl invites anyone who has apartment inventory for sale or knows of buildings for sale in northern New Jersey to contact him directly at the main office of Blue Asset Management LLC in Wayne New Jersey.
Blue Asset Management LLC was founded by Blumenkehl in 2008 to leverage the opportunities which became available as a result of the real estate and mortgage meltdown of the 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 Mr. Blumenkehl directly at 973 835-1400.
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
Subscribe to:
Posts (Atom)
