Financial
Financial
Business financials advice, reports, and trends for professional home builders and remodelers.
The Five Foundational Cornerstones
Business coach Scott Beebe shares insights into the often ignored business basics that could be the difference between long-term success and failure
Custom Builder
Start With the Why: Fundamentals of the Custom Builder Business
In our inaugural episode of Taking Care of Business, host and custom builder Duane Johns sits down with Scott Beebe, head coach and founder of My Business on Purpose, to talk vision, purpose, mission, values, and more
Business
Why AI Is Now Key to Our Trade Partner Strategy
Thompson Custom Homes Business Manager Erin Day explains how AI became a crucial part of building and maintaining successful trade partner relationships
Business
November Data: Custom Architects Weigh In, New Construction Trends, Contractor Confidence, and Material Price Changes
We've collected highlights from a number of data reports published throughout the industry in November
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Business
Survey Defines Custom-Built Home Demographics
New research by Custom Builder magazine provides insights into client profiles, home specifications, and top business challenges. Among the findings: homes are getting smaller, purse strings are tightening, and move-up buyers rule the market. Check out our full report.
Leadership
Snapshot of the custom-home market
Last month, the U.S. Census Bureau released the first batch of the freshly collected 2010 census data of the nation. The big news so far: The official resident population count increased 9.7 percent over the 2000 census to 308.74 million people (the slowest growth rate since the Great Depression), with most growth occurring in the South and West regions, led by Texas.
Financial
Study shows delinquent borrowers don’t always default on second mortgage
A study from the Federal Reserve Bank of Philadelphia shows that 20 percent of homeowners that go into foreclosure on their first mortgage continue to make payments on a second-lien mortgage. The story was reported by The Wall Street Journal.
Financial
National housing prices corrected to 2003 levels
Real estate prices nationwide have corrected back to first quarter 2003 levels and could wind up near third quarter 2002 prices, according to estimates from John Burns Real Estate Consulting. These prices are a 5 percent correction from the S&P Case-Shiller Home Price Index.
Financial
Toll Bros. reports $50 million profit, despite sharp decline in contracts
Luxury home builder Toll Brothers said its new contracts fell 27 percent in its most recent quarter compared to a year ago, The New York Times reported. The company reported a $50.5 million profit, but noted that demand remained erratic.
Financial
Budget proposal would hit home sellers with higher taxes
Under the government’s proposed budget overhaul, Americans who sell their homes at a profit would be hit with much higher taxes. Although President Obama’s deficit commission failed to get the necessary votes, one proposal is to tax capital gains the same as ordinary income. Previously, sellers were only taxed 15 percent on profits exceeding $500,000.
Leadership
Former Simonini executives launch Charlotte-area luxury home building company
Bill Saint and Doug Dozier, former executives with recently shuttered Simonini Builders, have launched a Charlotte-area luxury home building company that will take over where their former employer left off — building custom homes in two former Simonini neighborhoods.
Financial
Mortgage applications tumble as interest rates climb
Rates on home mortgages climbed this past week, causing mortgage applications to plummet, according to HousingPredictor.com. The average rate on a fixed 30-year mortgage climbed to 4.46 percent, showing that the foreclosure moratoriums enacted by major lenders are affecting the housing market.
Financial
Real-estate price cuts hit 18-month high
For the second straight month, a record number of home sellers have cut the price on their house at least once. As of Nov. 1, 27 percent of sellers had lowered the asking price, the highest number in 18 months. In several cities, those numbers were even higher.
Financial
6 markets positioned for recovery in 2011
Most experts agree that very few housing markets will experience a full recovery in 2011, but HousingPredictor said six cities, including Denver, Fargo, N.D., and Washington, D.C., should make solid gains next year.