Builders Clawing Their Way back
Home builders have been out of the picture for the past couple of years. They could not match the outrageous prices banks were selling foreclosed properties for.
Recently we started getting some calls from builders trying to get back in the game. To compete with the banks they are trying “no-down” seller financing, special terms etc.
It was interesting for me to see an article in the Wall Street Journal today talking about builders nationwide fighting back and trying to regain their footing in markets where lender foreclosure dominate. The article confirmed our experience.
The article is called ” Battling Back, Builders Work Fast, Cut Prices”. It is written by James R. Hagerty and Dawn Wotapka and can be found at the WSJ site using this link: http://online.wsj.com/article/SB20001424052748703422904575039691675728982.html
I believe this could lead to a slow return back to builder-sold properties which could work for investors as well. Builders just have to be very competitive and creative. Stay tuned
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