A good sign for buyers and sellers alike is that major builders in the U.S. are starting to purchase land. Is the housing slump coming to an end. I think we have hit bottom and will start to see a rise in activity in Mortgage loan originations as well as our local real estate market. Check out www.realtor.org
In recent publications like www.Forbes.com and www.moneymagazine.com San Antonio has been listed in the top 10 if not top 5 places to live and work. Texas has been listed as the number state for industry as well. Our real estate market remains positive and home sellers and buyers are still getting a fair price on each side of the transaction. I have been personally involved in transactions that have been negotiated in as short as 1 week from listing the sellers home with multiple offers as well as back up offers.
Mortgage rates remain at historical lows and the fed has left bank rates alone until there next FOMC meeting in September. Yes we are still loaning money!
Lennar Homes has purchased $165 Million and KB Homes have purchased over $400 million just recently.
Daily Real Estate News | August 12, 2008
Home Builders' Stocks Surge
Monday was the best day for homebuilders’ stocks in a long time.
Several builders’ stocks were up by at least 5 percent, with Beazer Homes USA Inc. rising 23.7 percent.
Shares of Hovnanian Enterprises Inc. rose about 8.6 percent. Lennar Corp. rose about 7.2 percent and KB Home’s shares rose 8.5 percent.
Centex Corp. was up 6.2 percent, Toll Brother rose 5.9 percent, D.R. Horton Inc. climbed 5.6 percent, and Pulte Homes increased 5.6 percent.
Source: The Associated Press (08/11/08)
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