February 10th, 2010
Daily Real Estate News
| February 10, 2010
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ShareTax Credit Inspires Builders Into Spec Homes
Some home builders are back building spec homes in the hopes that buyers will use the soon-to-expire tax credits to buy them.
“We know that we’re going to have more people out now,” says Lance Wright, co-owner of CastleRock Communities in Houston, Texas. “Buying is an emotional decision. Seeing the actual product that you’re moving into will certainly make it easier.”
Ken Campbell, CEO of Standard Pacific Corp., says home buyers having a brand-spanking new product available could be just the ticket to spur buyers. “It does make a difference if the home is ready, available to go.”
Charter Homes is putting up 20 well-appointed spec homes, says Rob Bowman, president of the Lancaster, Pa.-based company. “No matter how tough times are, that’s still a luxury that most people look at and say, ‘That’s something I really want.’”
Source: The Wall Street Journal, Dawn Wotapka (02/10/2010)
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March 20th, 2009
I’m going to get on my soapbox.
All the lowering of interest rates in the world will barely stimulate our economy, if at all! There are plenty of people that want to purchase a home. Enough, in fact, that if everyone that wanted to buy a house and had a job COULD, we wouldn’t need ANY other Government stimulus, whatsoever.
But, a major part of borrowers’ ability to purchase a home hinges on credit reporting agencies. Consumers are at the mercy of three separate credit reporting agencies. The consumer has NO control over who inquires into their credit or how many times a company can run a credit check. The number of inquiries on your credit report can and DOES lower your credit score.
The latest scheme that can REALLY mess up your credit score is when credit card companies or department stores lower your credit limits to just what you owe on your balance, When they do that, you have maxed out on your account, thus lowering your credit score.
Since these reporting companies have little, or no, accountability to the consumer, whose credit information they SELL or anyone else for that matter, consumers and homebuyers can get stuck in a never ending battle to either correct or prevent these problems.
I’ve called and written letters to my state and Federal legislators. You should inform yourself and do the same. This is a vital first step in our credit recovery as I see it!!!! Speak up while our voice is still heard!!
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March 17th, 2009
Today is the annual St Patrick’s Day parade in beautiful downtown Savannah Georgia. The weather is absolutely gorgeous without a cloud in the sky. This event will bring approximately 500K visitors to this great city. The city has done an excellent job of crowd control and keeping the peace for this event.
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