All GLG News Analyses Filed Under: Homebuilding

There Will Be More to Follow

December 5, 2008

Analysis by: GLG Expert Contributor

Analysis of:Kimball Hill Calls it Quits, For Good | www.bigbuilderonline.com

Is the business model for regional and national homebuilders sustainable in the current market? Can other regional and national players survive a prolonged recession?

Matthew AndersonPartnerForesight Analytics LLC

Cracks in the Dike - More Trouble Ahead

December 5, 2008

Analysis of:Delinquencies Tick Up On Construction Loans | login.nreionline.com

Construction financing is becoming much more difficult to obtain. Residential (single family and condo) amounts outstanding have been contracting since 2006. Commercial construction is still expanding, albeit at reduced rates (4-5% per quarter vs. 14% per quarter during 2006 and 2007), and really is only for projects already underway. Deteriorating credit quality means more pressure ahead on banks, including some that are exposed to commercial mortgages and commercial construction, and that have reported better relative performance.

Steve BottfeldPrincipalMarketing Solutions

THANKSGIVING IN LAS VEGAS: BETTER THAN EXPECTED!

November 17, 2008

Analysis of:Housing Foreclosure Filings Drop | www.lvrj.com

October's housing statistics may give the Las Vegas real estate community some much needed hope as we head toward the Thanksgiving holiday.  They suggest that Las Vegas may be among the first markets to escape the real estate slump affecting the entire nation.

Steve BottfeldPrincipalMarketing Solutions

TRICK OR TREAT: The Las Vegas Market Improves, and May be Near the Bottom!

October 21, 2008

Analysis of:Local Builder Closes Sales Offices, Citing Credit Mess | www.lvrj.com

undefinedundefined <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:1; mso-generic-font-family:roman; mso-font-format:other; mso-font-pitch:variable; mso-font-signature:0 0 0 0 0 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style- September’s housing statistics for Las Vegas are like a Halloween costume.  We can’t quite tell what’s behind the mask.  What complicates our vision is that this data was developed just as economic news regarding the bailout and the further misadventures of AIG, Lehman Brothers and others hit the public consciousness.      Certainly, as the US is battered by an economic system undergoing a frightening metamorphosis, people look for signs that something good may be happening. September housing statistics for Las Vegas provides some good news.  But, there are some tricks among the treats:

Jack KernManaging DirectorKern Investment Research

Multiple Personality Multifamily Markets

October 20, 2008

Analysis of:Multifamily Development Likely to Slow in ‘09 | www.builderonline.com

The multifamily industry and in particular the investment grade rental markets popular with REITs are now undergoing some stresses. The industry has enjoyed, in the recent past, an almost unbroken string of good years with gains in net operating income, rent increases and a terrific capital market, allowing property transactions to sell at low cap rates. Now, the U.S. economy's slowdown has finally started to catch up with apartment owners, and the next few years are going to be rocky.

maybe there's also reward

September 26, 2008

Analysis by: GLG Expert Contributor

Analysis of:Rescue Plan's Success Gets Linked to Home Prices | online.wsj.com

The big question about "the bailout" is price. If the taxpayer pays too much, obviously, there's little chance of doing anything but losing money. At the right price, however, there is an excellent chance of making some. Can the political process be trusted with that opportunity?

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS CONTINUES TO MOVE FORWARD (AT LEAST UNTIL DATA CATCHES UP)

September 23, 2008

Analysis of:Speculators Coming Back | www.lvrj.com

  As the US is battered by an economic system undergoing a frightening metamorphosis, people look for signs that something good may be happening.   Unfortunately, they won't find it in the Las Vegas August housing data.  Of great concern to economic and market analysts is that Las Vegas housing prices continue to slide.  The caveat is that August data was developed prior to recent economic news regarding such major financial entities as Fannie Mae, Freddie Mac, Merrill Lynch Lehman Brothers, and AIG.   And, September’s housing data will suffer the same shortcoming.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: REAL ESTATE RECOVERY UNDERWAY?

August 19, 2008

Analysis of:EMPLOYMENT: Open season for jobs | www.lvrj.com

For the first time in two years, the Las Vegas resale market has less than 8 months of inventory.  If a normal market is defined by six months of inventory, then the resale market in Las Vegas is on the edge of being considered normal. undefined is n----->There is not one person reading this article who believes that last         sentence. The truth is: Nothing in Las Vegas real estate is “normal.”  And, July data accentuates that point.  There’s enough negative news to keep all of the pessimists beating on their alarm drums.    undefinedü  J -----> But, July data also suggests that the Las Vegas market         continues to improve more rapidly than other areas of the         country. Let’s look at the various market segments:

Phoney Downpayment Grant Program Killed by New Housing Legislation?

August 11, 2008

Analysis by: GLG Expert Contributor

Analysis of:Builders Feel Pinch of Key Omission From the Housing Bill | online.wsj.com

Many home builders are concerned that a provision in the new federal Housing Bill will reduce sales to borrowers that used phoney grants from charities to fund their downpayments.   The new legislation ends the circular charade of allowing builders and other home sellers to jack up the price of their properties by 3% and then use those proceeds to make a "donation" to a nonprofit organization that, in turn, would "assist" borrowers by making their 3% downpayment. 

Orville PowerPrincipalVertical Infill, Inc.

Cost is the Key!

August 5, 2008

Analysis of:US home builder outlines greener future | www.energyefficiencynews.com

Solar Panel systems are not yet cost effective for builders to use on traditional housing.  Overall, an environmental movement will help sell homes, however, it must make financial sense to be widely accepted in the building industry.

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