Ryland homes (Charlotte, Raleigh: for sale, foreclosures, lease)

[DUKE1989]

Rylan homes has many subdivisions in the Charlotte area. Rylan is the first homebuilder to report this quarter. As in the past they reported bad finacials for the housing industry. I guess the bottoming of the market that many realtors saw just did not materialize. New homes closed dropped for 3554 units Q1 2006 to 2302 units Q1 2007 . Cancelation rates still at 28% . Rylan will post a loss of $0.5 to $0.6 per share. Wow, wonder what will happen to the numbers when the sub-prime effects are reported next month. Looks like its still a good time to lease a home until things come closer to a bottom.

[neoflex]

Ryland is a builder that builds homes all over the country. Are those numbers for the NC market or are they stats for all of their locations combined? Just curious because I read a snippet from an article a couple weeks ago that said that even though most of the country is hurting the Charlotte housing market seems to be growing slow and steady and is a healthy market despite what most of teh country is feeling.

[North_Raleigh_Guy]

Originally Posted by neoflex

Ryland is a builder that builds homes all over the country. Are those numbers for the NC market or are they stats for all of their locations combined? Just curious because I read a snippet from an article a couple weeks ago that said that even though most of the country is hurting the Charlotte housing market seems to be growing slow and steady and is a healthy market despite what most of teh country is feeling.

Good point Neoflex. Those sound like national numbers. The housing markets in Charlotte and Raleigh both seem to be relatively unaffected by all the bad news lately coming from the national builders. This does not surprise me at all since these two metros didn't see the explosive appreciation in home values like other regions between 2001 to 2005. Homes continue to be steadily and modestly appreciating in desireable locations here in Raleigh and in Charlotte from what I have been seeing. Nice modest appreciation is the key to the sustainability of the market.

[DUKE1989]

Actually, two big home builders that reported in the past 6 weeks claimed they saw slowdowns in the Carolinas. I will look for the article.

[North_Raleigh_Guy]

I think slow downs of new construction isn't necessicarily a bad thing at all. There are plenty of resales available for purchase. If and when the supply of resales becomes limited I'm sure a developer will be more than Happy to start building again. In the meantime, I am happy to see more people purchasing resales or moving into downtown urban redevelopment projects that will bolster the thriving downtowns of these two metros.

[businessperson]

Originally Posted by North_Raleigh_Guy

I think slow downs of new construction isn't necessicarily a bad thing at all. There are plenty of resales available for purchase. If and when the supply of resales becomes limited I'm sure a developer will be more than Happy to start building again. In the meantime, I am happy to see more people purchasing resales or moving into downtown urban redevelopment projects that will bolster the thriving downtowns of these two metros.

I'm looking forward to an upswing in resales. We have some beautiful homes for sale in the Charlotte area and people should take a serious look at them before going to new construction.

[DUKE1989]

Dont' forget all the foreclosures. I travel out to the Cottswald and 7 street areas alot for business. I am starting to see price reduced signs in the homes there that were recently remodeled. I am also surprised at how long some of those have been on the market.

[North_Raleigh_Guy]

I'm sorry to see anybody lose their home, especially those that got caught up in the sub-prime lending fiasco, but any increase in foreclosures will ultimately help fill any void left by any slowdown in new constrcution. Again, I think resales are a great option for people looking to buy a home.

[miklaur]

Bumping... I think this thread could be very helpful to some folks.

[niknaxx]

Originally Posted by North_Raleigh_Guy

I'm sorry to see anybody lose their home, especially those that got caught up in the sub-prime lending fiasco, but any increase in foreclosures will ultimately help fill any void left by any slowdown in new constrcution. Again, I think resales are a great option for people looking to buy a home.

I think it really depends on what you're looking for as to whether you buy new or a resale. The resale that we purchased was a nightmare! My two new constructions have been in much better shape, up to current building codes, and also have a warranty behind them that the builder fixes the repairs, some builders obviously better at warranty than others. I also like picking little things out like ceiling fans, blinds, etc. as opposed to buying a resale and replacing them. I find new constructions are typically blank canvases and more appealing than most resales. My husband is out of town frequently and Centex offers a 2 year warranty, so we like new v. the resale. Also, when we're ready to move, we need to do it in a hurry. We can't wait for a homeowner to get out of the home, so new construction just seems to work better for us. When we looked at the Charlotte area, there were 2 vacant resales and a whole bunch new for immediate occupancy. It depends on your lifestyle. On the flip side, I like resales to sell...