CFD Infrastructure Bonds: Investors Are Buying and Foreclosing CFD Bonds to Acquire New Housing Subdivisions
January 25, 2009
So I’m sitting at lunch with some of the other speakers at a recent commercial loan workout conference (I was speaking on the use of receivers to complete and sell new housing projects), and someone mentions that vulture investors are buying, and in some cases foreclosing on, CFD and Mello Roos bonds to acquire distressed tract housing developments. Read the rest of this entry »
Where’s the Bottom? March of the Zombies
January 24, 2009
Several months ago I earnestly asked a friend of mine who is a land economist, “Where’s the bottom of this housing market?” and he promptly answered, “I don’t know.” However, being persistent, I asked again. This time he answered, “Well if you could tell me how much zombie housing is out there, I could make an intelligent guess.” Read the rest of this entry »
As a receiver completing new condominium and tract housing projects, the subject of California SB 800 long term construction defects liability comes up a lot. So I asked noted subdivision and DRE lawyer Robert Smylie of Robert Smylie & Associates to recap the issues for me. His explanation follows (with some paraphrasing on my part with his permission). Of course, I’m not a lawyer, so those of you with further questions should contact him directly at rsmylie@smylieandassociates.com, or read his article at http://www.waldrealtyadvisors.com/downloads/download.html: Read the rest of this entry »
