All GLG News Analyses Filed Under: Homebuilding
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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Mark MariottiChief Executive OfficerFuture Management Holdings Inc
June 17, 2008
HOME INVENTORY INCREASES IN MAY | www.lvrj.com
With 45 percent of contingent sales identified as "short sales," or sales in which the lender will be required to accept less than the principal balance owed, we can't expect investor demand to grow. Investors currently have other more liquid and stable securities to place their bets, and these instruments are yielding strong cash-flows.
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Steve BottfeldPrincipalMarketing Solutions
LAS VEGAS: The Recovery Begins!
June 17, 2008
HOME INVENTORY INCREASES IN MAY | www.lvrj.com
May data for the Las Vegas housing market suggests that recovery is underway for the resale market. Unfortunately, the data clearly points out that recovery does not yet extend into the new construction arena.
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Jim BelfiorePresidentBelfiore Real Estate Consulting
June 16, 2008
Lessons From the Housing Bubble | online.wsj.com
Our next lesson may be that homebuyers should carry some of the financial risk associated with owning a home.
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Jon WatsonPrincipalJon Watson Consulting
Pretty painful, but not terminal
June 16, 2008
U.K. Homebuilders May Avoid `Armageddon,' UBS Says | www.bloomberg.com
Whilst there is no doubt that there will be significant write downs on some sites in most house-builders’ land banks, the nature of the land deals for many of the sites in those land banks means that much of the pain will be felt by the original vendors of the sites rather than the house-builders themselves.
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Jim BelfiorePresidentBelfiore Real Estate Consulting
Phoenix Attached Projects in Trouble
June 6, 2008
$3.1M lien filed against condo developer | www.bizjournals.com
The question many looking from the outside-in may soon start asking is, “How many buyers are there for $300 / square foot to $800 / square foot housing in Phoenix?” As the single-family market bottoms out, the answer will come. Hopefully the timing is sooner rather than later.
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Jim BelfiorePresidentBelfiore Real Estate Consulting
For Buyers with Income, Feelings are Problem, not Financing
May 29, 2008
Consumers Are Downbeat on Economy | online.wsj.com
An improvement in consumer sentiment will lead to an improvement in new home traffic and home sales, as well as an improvement in other areas of the economy. Buyers that “feel” good make confident purchases. Watch consumer sentiment and confidence indices, as well as BREC traffic count figures, for improvements, which we expect late in 2008.
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Jim BelfiorePresidentBelfiore Real Estate Consulting
May 27, 2008
As Dues Dry Up, The Neighbors Pay | online.wsj.com
Rising costs and high delinquencies are pushing HOAs into bankruptcy. Add HOA solvency to your underwriting checklist.
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Howard LiggettPresident and CEODistressed Real Estate Consulting Services, Inc.
Connecticut Bucks National Trend of Inventory Overbuild
May 23, 2008
Housing Prices Going Lower | www.lvrj.com
It easy to think nationally when reading of the foreclosure number increases;the glut of homes and the downward impact on price point when,in fact,there are many regions of the country that have not been as adversely affected by speculator development and inflated land values. Connecticut is one of several states that have weathered the storm and continue to have considerably healthier residential markets.
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Steve BottfeldPrincipalMarketing Solutions
The Beginning of The Beginning: Las Vegas turning the Corner
May 20, 2008
Housing Prices Going Lower | www.lvrj.com
To paraphrase Winston Churchill, April’s housing data for Las Vegas could be the “beginning of the beginning.” undefined· -----Prices of ALL new homes have reached a yearly high of $291,080 – just 9.3% below last April. The price differential between 2008 and 2007 has narrowed in each successive month of this year. undefined· undefined--Sales of existing homes (2.225) boasted the first year-over-year increase since September 2005. undefined· undefined--At 21,338, existing home inventory is at the lowest point since February 2007. At current sales rates, that represents just under 13 months of supply. Normal markets are defined as seven to ten months of supply. undefined· undefined undefined· undefined
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Kenneth EganBroker and RealtorRe/Max All Cities Realty
April 28, 2008
Construction Companies Are Clamoring for Managers | online.wsj.com
A year's worth of new home inventory remains unsold. Regional banks are reporting losses, because of regional builders excess inventory. With increasing foreclosures, and at current building levels, the issues remain. Large projects will be next. Poor sales at destination resorts will start to impact this area--second home sales will decline sharply--already have.
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