http://theveracityblog.com/2010/02/22/whats-ahead-for-mortgage-rates-this-week-february-22-2010/ Best Mortgage Loans In Arizona and California Mon, 05 Dec 2011 20:37:49 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://theveracityblog.com/2010/02/22/whats-ahead-for-mortgage-rates-this-week-february-22-2010/comment-page-1/#comment-184 veracityteam Mon, 22 Feb 2010 17:08:00 +0000 http://theveracityblog.com/2010/02/22/whats-ahead-for-mortgage-rates-this-week-february-22-2010/#comment-184 Great point Nick. The builders really are dead unless they compete with the REO inventory, and better yet, the shortsale inventory. I've had a number of discussions regarding this and they've pretty much lead to the builders picking up sites, partial builds, etc. from failed projects for pennies on the dollar. This allows them to get in at a lower cost, build or finish, then sell at a competing price. Drive anywhere in the valley and we are seeing homes being built. It's great! Now... if we could just do something about shortsale and REO inventory.... Great point Nick. The builders really are dead unless they compete with the REO inventory, and better yet, the shortsale inventory. I’ve had a number of discussions regarding this and they’ve pretty much lead to the builders picking up sites, partial builds, etc. from failed projects for pennies on the dollar. This allows them to get in at a lower cost, build or finish, then sell at a competing price. Drive anywhere in the valley and we are seeing homes being built. It’s great!
Now… if we could just do something about shortsale and REO inventory….

]]> http://theveracityblog.com/2010/02/22/whats-ahead-for-mortgage-rates-this-week-february-22-2010/comment-page-1/#comment-183 Nick Bastian Mon, 22 Feb 2010 16:56:27 +0000 http://theveracityblog.com/2010/02/22/whats-ahead-for-mortgage-rates-this-week-february-22-2010/#comment-183 I am curious to see Wednesday's report on new home sales. I have noticed a LOT more activity recently in the marketing activity from local builders. Last year, we saw marginal marketing from builders, since the first of the year, the builders in the valley seem to have started a much bigger push. No, this won't show on Wednesday's report, it is just something I find interesting to watch. The builders know it is tough to compete with reo's etc. but, they HAVE to sell homes. :-) Thanks for some great info Shane. I am curious to see Wednesday’s report on new home sales. I have noticed a LOT more activity recently in the marketing activity from local builders. Last year, we saw marginal marketing from builders, since the first of the year, the builders in the valley seem to have started a much bigger push. No, this won’t show on Wednesday’s report, it is just something I find interesting to watch. The builders know it is tough to compete with reo’s etc. but, they HAVE to sell homes.
Thanks for some great info Shane.

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