All GLG News Analyses Filed Under: Homebuilding

When Does a Market Bottom?

June 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:HOUSING INVENTORY INCREASE EXPECTED | www.lvrj.com

The determination of when a market bottoms is based upon the resurgence of a "free selling market" when sellers are not forced to sell and buyers are not buying because of subsidies, tax bonuses and all sorts of market stimulus. Reaching a decision that buyers are now in the market buying forced sales, short sales and foreclosures in record numbers does not signal a return to a free selling market until all of the short sales, foreclosures and government inducements to buy are not causing the sales. Much of this activity is fueled by speculators who will disappear from the buying market and resurface when the market prices rise then they become sellers which is a signal that a resurgent market is present but not the only signal.

Orlando Metro Market Has Bottomed- A Tale of Two Markets

June 25, 2009

Analysis by: GLG Expert Contributor

Analysis of:HOUSING INVENTORY INCREASE EXPECTED | www.lvrj.com

The Orlando (Central Florida) market is comprised of two submarkets.  N. Orlando and Seminole County S. Orlando, Polk County and Osceola County.  N. Orlando and Seminole County are seeing robust demand among consumer bargain hunters as well as investors.  One local firm indicated results were up 40% with bargain inventory being snapped up within days (even bidding wars).  In this market, condo sales are being driven by (more) realistic prices (esp. in conversions).  This is driving investor interest as strong cash flow and the prospect of strong appreciation in two-to-three years is compelling. Homes are also being snapped up at bargain prices as those with jobs and credit take advantage of the pre-boom pricing that made Orlando an affordable market. S. Orlando et al is still falling as residents are lower income hospitality workers have no jobs/credit and new projects compete with new projects and lots of current and potential inventory.  Recovery is years away.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: RESIDENTIAL HAS FOUND THE BOTTOM

June 23, 2009

Analysis of:HOUSING INVENTORY INCREASE EXPECTED | www.lvrj.com

  May housing data strongly suggests that Las Vegas will experience a bottom to the residential recession in the 2nd quarter of this year.

Economic downturn exposes embryonic regulatory framework

June 10, 2009

Analysis by: GLG Expert Contributor

Analysis of:Gulf real estate regulators to announce more industry rules | www.propertywire.com

Gulf States regulatory agencies accelerate the introduction of new regulations as a result of both buyers’ and developers’ defaults. Countries with undeveloped financial markets depend on pre-sales and “saving” schemes to finance project construction. Unless clear rules are developed international buyers and investors may retrench until transparency is established.

How home builders can stay out of trouble with new home technologies and make money while doing it.

April 21, 2009

Analysis by: GLG Expert Contributor

Analysis of:What to Look for in an Electronic Systems Contractor | www.nahbmonday.com

If you're a builder of homes, you might be wondering: how to increase your profits on projects you're building how to tap into the exploding trend toward automation, providing your customers with "future proof" homes how to tap into the trend toward "green" homeownership through technology You might be wondering how to accomplish all of this with very little work on your part, and without the need to learn all the details of these new technologies.  This article shows you how.

Pulte and Centex Sitting in a tree

April 20, 2009

Analysis by: GLG Expert Contributor

Analysis of:Pulte Homes in $3.1 billion merger | money.cnn.com

With the merger of Pulte Homes and the Centex Corp, I ask myself two very important questions, first that comes to mind is Pulte's availability to be able to effectively operate some of Centex's subsidies on the commercial and industrial levels of construction and  number two, will Pulte be able to maintain the number one rating position of all builders in customer satisfaction.  My experience speaks a clear history. Having held numerous titles with numerous National Home Builders, Centex Homes employed me as Director of Customer Care Services,  in the Northeast Division. The problem was, that the production department was always given a free hand. This lent to a mindfulness that building em as quickly and inexpensively as possibly, was far more important that providing excellent customer services as does Pulte Homes. I am sure that Pulte has the horse power to achieve this, however, how much deadwood will need to be removed in order to do so? Good Luck to Pulte 

economies of scale

April 13, 2009

Analysis by: GLG Expert Contributor

Analysis of:Pulte Homes in $3.1 billion merger | money.cnn.com

The merger will allow pulte to capture cash from Centex as well as get a foot hold in the Texas market. this will also allow the cutting of overhead. as long as the merger does not require Pulte to add existing short term debt, which it will not, this will be a great merger. Pulte will increase its lot positions and establish itself as the largest builder in the Country when home building recovers, which i suspect will be in 2010. the counrty will have a housing shortage in 2010 and this allows Pulte to have a foot hold in the first time home buyers market, which because of government subsidies will be huge come 2010. All things considered since this was an all stock buyout this is a great deal.

Joint Ventures forced by the global financial crisis. A new way to survive

April 13, 2009

Analysis by: GLG Expert Contributor

Analysis of:Joint Ventures forced by the global financial crisis | www.vimay-group.com

Under the global financial crisis, a Joint Venture forced will allow market or stay in in the same position. And thus, once leading the market re launch an overall strategy to confront crisis.

David GreenPrincipalTrinity Development Group

In Tampa: Lot Owners Woo Builders With Offer of Free Lots

April 1, 2009

Analysis of:Building in a bear market | money.cnn.com

This article is spot on.  From an insider's perspective I could not agree more with the author.  The Tampa residential market is decimated and it takes wild creativity to spur building activity.

Steve BottfeldPrincipalMarketing Solutions

THIS BEAR MAY BE GROWING HORNS ...

March 24, 2009

Analysis of:Building in a bear market | money.cnn.com

  After citing a 10-month supply of existing homes in February, and home sales at their lowest level in many years, this article asks the intriguing question: “Why are homes being built at all?”  It states with some certainty that there is no recovery in the near future.   But, is there a recovery on the horizon?  Is this Bear growing horns?  The key problem with this article is the statistics used are lagging indicators.  

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