WELCOME To E-Bank Mexico

General Economy-

Who and what isn’t affected by the current economy and world wide recession? Virtually no one or nothing. Employees are losing jobs at enormous rates; the national unemployment number stands at 9+% and worldwide the gnp will be down at least 10% and some experts expect that to rise to high double digits. Homeowners, business’s, golf course’s, resorts, hotels’, factories, schools, and shopping malls are being foreclosed upon in record numbers and lenders & banks can’t keep up in selling the properties they’ve taken back. Companies large and small are losing business, cutting labor, production and new product development.

The most human face to this crisis is the level of unemployment America and the G20 countries is facing. Without jobs, in the US, our neighbors are losing their houses right and left. Not only does that create catastrophic problems for those who lose their jobs. The consequences fall on the rest of our population as well. A fellow citizen who loses his or her job becomes at risk for not being able to continue to make their payments. If they can’t make their payments, there is a good chance their home will face foreclosure. When that happens we all lose, because foreclosures are driving the values of homes and other assets down by incredible levels. In some cities in the hardest hit areas, home values are plummeting by 70% or more.

In terms of commercial businesses banks and the financial industries are probably most affected by the negative economy. By foreclosing on so many residential and commercial properties, lenders are having trouble moving all of the negative assets off their books quickly enough. And some assets are hard to value.

There are other major industries being affected by the economy as well. Here are some key areas outside of banking, retail and financial that could be at risk. For each sector you’ll see how the decline in these specific industries is also impacting the housing crisis.

(1) Healthcare- With people worldwide losing jobs and insurance, major and minor illnesses are being treated at hospitals. Care is provided regardless of a patient’s ability to pay. This is one reason why our nation’s heath care costs are the highest in any industrialized nation. Further, if patient’s do put their health care bills first, there is a significant chance their ability to pay their mortgages and other will be hindered.

(2 )Government- Local cities and municipalities are going broke. States such as California are billions of dollars in debt. The collection of tax revenues are declining significantly especially in the area of property taxes which are based on home values. Blight is occurring in many local towns with the number of foreclosures. Local governments are putting liens on properties based on non-payment of taxes which puts the government into the bad housing business.

(3) Entertainment- With people spending less on entertainment- employees from the travel, media, advertising, film and music industries are all at risk. With some of the G-20 and our nation’s highest paying jobs in media, hotels and resorts many employees are at risk in paying high mortgage payments on their primary or secondary homes.

(4) Hospitality- WORLDWIDE Discretionary dollars for everything from resorts and travel to eating in restaurants is put at risk in a recession. You see deals on everything from hotels, to airfare to 2 for 1 dinners because some hospitality companies trying to stay afloat during hard economic times. Many city streets and storefronts are littered with signs of businesses for sale or for rent signs in retail properties. Many commercial landlords and property owners are also at risk for losing their properties to foreclosure without paying tenants.

Recently US News and World Report listed 15 top companies which may not be able to survive this recession. They include:

Rite Aid
Claire’s Stores
Chrysler
Dollar-Thrify Automotive Group
Realogy Corp.
Station Casinos
Loehmann’s Captial Corp
Sbarro
Six Flags
Blockbuster
Krispy Kreme
Landry’s Restaurants
Sirius Satellite Radio
Trump Entertainment Resorts Holdings
Bearing Point

Most all of these sectors or individual companies will also be affected by the real estate market. They will need to sell real estate associated with virtually any of their businesses.

If you are in need of selling your real estate assets fast, there is help. A local Southern California company, Terra Asset Management is an expert in liquidation risk and work to sell property and brands to interested parties. Operating under Terra Asset Management in Palm Springs, Terra Asset Managers and its partners have unique foreclosure expertise and are the leading foreclosure specialists in Southern California and also operate through the United States. Terra Asset Management can cut your time of sale down. Equally important, Terra can limit your liquidation risk and most importantly Terra has the resources and the relationships to get your property sold quickly.

The 4 step process of Terra Asset Management takes the worry off your shoulders and handles all aspects of selling the property.

Step 1: Terra takes over the property so you don’t have to be involved,
Deals with planning, code and local government for you.
Step 2: They take the property and put in on the right path. They will handle all repairs or other items that may keep you from selling it quickly.
Step 3: Terra handles all of the day to day operations of the property including maintenance and upkeep.
Step 4: Terra disposes of your property in the quickly and easily and puts the most money back into your pocket.

Terra Asset Management is a full services real estate firm and has contractors,
CPA’s, legal and other help that may be necessary for you to sell your property.

If you are a residential home owner or commercial property owner and you need properties sold, call the foreclosure experts, Terra Asset Management. Charles Stewart can be reached at (760) 408-8998.