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Housing Dimensions Blog
Our survey of 188 home building executives last month turned up a very interesting, and disturbing, finding. More builders are shying away from selling homes to Vets because VA appraisers have become so conservative that the homes rarely close. In addition, the low appraisals impact the value of future community sales, costing the builders significant money. Particularly disturbing are some of the VA procedures that make it difficult to challenge mistakes, as well as the impact the appraisals are having on other homes available for sale in the community. All of the builders we spoke with love selling homes to Vets, but many have grown so frustrated with the process that it is becoming financially questionable to continue.
October 18, 2011
Three Builders Win Gift Cards in Survey Drawing
Congratulations to the three builders who won prizes for their participation in our monthly surveys this summer. The builders' names were selected at random from a pool of all participants from June through August. We thank Dirk and Jerry for their feedback and are pleased to feature them and their companies on our website. We also thank our third winner for his participation, and are complying with his request that we not identify him.
Dirk Neumann, Director of Land Acquisition, Market Research and Product Design, Minto Florida - 1st prize
Public builders are dominating finished lot purchases, which is increasing their market share in major metropolitan areas. Although demand for lots and land cooled slightly in the 2nd quarter, our survey of the top land brokers in large metropolitan areas around the country tell us the public builders continued to buy finished lots at a much faster pace than the private builders.
Land prices didn't change much in the 2nd quarter, with slightly rising prices in Texas being the notable exception.