More Home Builders in Triangle in trouble

After Hasentree was reported in trouble not too long ago, St Lawrence Homes is also reported in the news that it has more than 400 liens on its unsold homes and lands for the contractors' fees related to building materials, labors and advertising..e.t.c
Right now, as the Triangle Homes Sales dropped nearly 40% compared to last year and the Triangle area builders not only need to compete with others builders but also with those foreclosures, Short Sales and bank seized properties now flooded in the market. The builders are motivated to move the inventory and are cautious about building any "spec homes".
According the economist of Wachovia, the receission will continue at least until to 2nd quarter of 2009 and I am working with investors and bargain home buyers. In my opinion, right now is the golden opportunity to buy and I am making offer for my customers weekly cause with the interest rate cut and all these good deals popping up. You need to be fast in order to take advantages in existing market.
Anyway, if you are interested to know more about investing or buying in Triangle area, please feel free to email me or call me for any question.

Hannah Chan
(Please check out my blog periodically to keep track of the local market and fun things to do in our area.)
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