Good morning! I'm encouraged today by two things I saw and read about. First of all, I was driving to work and saw that a large builder in our area was starting to build homes again. This was after construction literally stopped in a sub-division for the last 6 months. I'm encouraged. Granted, there have been a lot of builders who have bit the dust in the past year (including one in my building) but I'm planning on keeping my eyes open for other housing starts. The second thing I read is that foreclosures nationwide (and in my county) were down for the month of September. This is also good news. Could it be that this cycle has almost run its course? Obviously, time will tell.
The bottom line is I think we're closer to a real estate recovery. We've been pretty slow now since the Summer of 2007 and we all know eventually it will pick up again. The question is when. I continue to see credit being tight until the Spring but then think that whoever sticks it out will see a nice little bump in their business. What do you think? I'm always curious as to your thoughts. Have a great day!
Paul
Paul McFadden
Paul, we can hope. At least you live in one of the more statistically insulated areas of the country.
Good luck
Bo
Bo: Thank you. We have not been immune from the real estate bubble. We are also looking forward to better days up here. I've lost alot of good friends from this business. Take care.
Paul, you are so right, when you see construction, that is the first sign. I sell a lot of Land, and the phone has been very quite for the past six months. Last week I finally started geting a few calls. Now all we need is lenders to start lending on Land and Construction
Endre: That's great to hear. Keep up the good work! Somehow I believe we're going to survive.
Paul