Distressed Assets

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Land and Money: Finance Options Open Up

The awaited credit spigot has begun to flow. At least in select markets, lenders and investors now compete with one another to finance acquisition, development, and construction capital for home builders to buy lots, develop them, operate, and go vertical. Here's the lowdown on a new program from North Star, which promises particular benefits to smaller, National Association of Home Builders members, and some context around this always-fraught issue of AD&C finance. More

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What to do next about new-home pricing?

Two challenges of the moment face production home building strategic leaders: 1) last week's bewildering series of data points--home builder sentiment, housing starts and permits, and existing home sales--fed into housing's atmosphere like a wet blanket, a mere pulse-beat or two after a highly exuberant showing earlier this month at the International Home Builders Show in Las Vegas. Which is real? More importantly, is this: 2) What's leadership's role--and what are the options--when near-term headline risk shows its ugly head. To get at both challenges, we need to look first at prices, particularly rising prices, and understand whether they're the true culprit for which cold wintry weather may be getting the blame. Or merely an associated factor? More

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Home Building Is on the Rebound

Home construction is just beginning to imprint its normal influence on the rest of the economy. More

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NAHB Provides Value and Support to Its Members

Chairman says NAHB membership is the best investment a member can make in their business and their future. More

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Ten bold predictions for 2014: The 'fend for yourself' year

We see 2014 as home building's "fend for yourself" year. Fewer government accommodations, a harsher financial climate, particularly for first-timer entry-level buyers, pressures on input costs, including labor, and a more-discriminating home buyer than ever. And, if that's not enough, the recovery's seven dwarfs--Bumpy, Lumpy, Choppy, Grumpy, Iffy, Sniffy, and Fitful--each want attention and care. Here's 10 bold predictions for the 12 months ahead. TICK, TICK, TICK: time's ticking away, and this is the week we're completing our research on "home building's 10 most influential women executives" in 2013. Go to the post; check out the list; add to it; tell us what we should be looking at for judging criteria; give us your thoughts. This is a moment to focus on a leadership talent pool that deserves attention and growth opportunity now, not later. More

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Big builder 2014 budget planning ... the year of 'being better, or else': UPDATE 2 p.m. EDT

Imagine a diagram that looks somewhat like this one, only the word “Projected” would go on top of this split personality figure, and the word “Actual” would appear at the bottom. On one side are the factors within a home building company management’s control. On the other, externalities, or forces that lie outside any individual’s influence. Welcome to big builder 2014 budget planning, which we’ll call the year of “being better or else.” Are you projecting a 25% increase in sales, with profitability to match, as some home builders are? Or, given the current slowdown, are you paring back your projections? This morning, BIG BUILDER will explore the alternative scenarios from reports around the landscape. Also, check out our top-10 glossary of most common four-letter words used in the budget planning process. More

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Do We Really Need Fannie and Freddie?

A panel of multifamily housing CEOs mostly agree that it is important to keep the federal government involved with America’s housing finance sector. More

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The Lone Star State is About to Get Crowded

Development is not the only way that Texas is thriving. They also have multiple markets where people can afford to live, and considering that the national median income has been gradually decreasing in the past decade, that makes Texas super appealing. More

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For Sale: Lots at Good Terms

Black Orchid Equity, which recently bought thousands of distressed lots from Rialto Capital, is parsing them out to builders with terms that allow the builder to pay for the lots after the homes are constructed. More

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Should the Federal Government Exit the Housing Finance Market?

As the House and Senate push forward on reform bills, two experts ponder what a new system might mean for consumers and investors. More

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