A prolonged government shutdown could create delays for homebuilders and first-time buyers if the Federal Housing Administration remains closed for longer than a few weeks, an analyst with Sterne Agee claimed Tuesday.
[Ryland] took pretax charges of $60.4 million for inventory valuation adjustments. New orders dropped 31.6%. The company said its inventory of unsold homes stood at 719 units at the end of September, down 12.6% from the end of 2007...
(At Pulte) Net new home orders for the quarter totaled 3,008 homes, a 34% decline from the same period a year ago.
We have to ask -- in light of today's news that both KB Home and Ryland are planning to roll out nationwide price protection guarantees -- can anyone else without a guarantee sue to get one? We at HW could see plenty of pissed-off borrowers who bought and weren't offered price protection.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..
Typically, for a process and a product that depends largely on human effort, if you want a higher quality product, you have to pay more. The best doctors, chefs, mechanics and attorneys all make more than the market average. Nevertheless, lenders, AMCs and Fannie Mae all expect appraisal quality to increase even as appraiser fees decrease. Read More