Composite Solutions To Look At Opportunities In Growing Foreclosure Market

It was declared by Composite Solutions, Inc. today it was in the process of forming a subsidiary arm which will take advantage of the opportunities derived from the nation’s increasing foreclosure market.

Having set their sights on the indecisive real estate market, CSI thinks that this may be an important opportunity for real estate speculation and investment as bank foreclosure rates continue to climb. According to the Federal Deposit Insurance Corp., Wall Street’s investors are claiming a larger piece of Main Street. With the rise in foreclosures, U.S. housing value held by commercial banks went up by 53 percent countrywide to reach $2.3 billion at the end of the first quarter this year. This was the highest since 1992, and up from a year earlier from around $1.5 billion.

An investment-oriented company, Composite Solutions, Inc. focuses on purchasing high-return commercial, industrial and residential real estate in the ever-changing real estate market. The Company is also planning to build more revenue streams through designing, developing and constructing ready properties on offer for direct sale to the general public. The company plans to develop their entire property bank into a ready real estate product which has been developed entirely in-house. For this purpose, they are setting up a subsidiary company.

Walter Wright, CEO of Composite Solutions, Inc. says that the biggest of U.S. lending companies are feeling the pressure of the current real estate market trend and that it promotes a great investment opportunity. Composite Solutions, Inc. is insistently seeking bank-owned real estate, and is in the middle of buying a non-performing note portfolio to the tune of around $6.06 million. Mr. Wright went on to say, “Banks and other lenders want to lend money and see a return. They’re not in the business of holding or marketing real estate, which creates an excellent opportunities like our note project.”

Earlier this month, Bloomberg reported that there was a record jump in mortgage foreclosures in the country in the first six months of this year. This was as a direct result of rising interest rates and falling home prices which really shook up homeowners. Over 925,500 foreclosure notices were filed, which was 56% higher than a year ago. Incidentally, this was also the highest since 2005 when California-based RealtyTrac started tracking real estate data. This June, there was a 87% increase in defaults to 164,644 on a year to year basis, reported RealtyTrac.

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