Centex is selling some of its communities. News you need to know.

I just blogged about how wonderful the Centex owned Pointe West community is for Galveston, Texas. It makes me a bit sad to report this but as a home builder I understand why Centex is in negotiations to sell part of their holdings. The specific communities have not been named, yet The Galveston County Daily News is reporting that Pointe West is included. We received this news via our live real estate news feed courtesy of Yahoo. You can explore all your daily real estate needs by visiting our home page to view the live feed. Thanks to www.Yahoo.com for their help informing our real estate community about what matters.

Please view the article here.

I have talked about the effects of our current recession before. What is sad is how much this is effecting the work force in the New Home Construction market. This cycle is cyclical. Don't be shocked by what is happening because it will get better. Centex was previously in talks regarding the sale of Pointe West. The explanation I was given was that they loved the experience of creating a destination property yet their bread and butter is within the norm of Centex standard development operations. Pointe West is far above your standard community. They have pulled out all the stops. Galveston is a very seasonal market so my assumption is that this is all falling into their considerations while exploring a sale of the community. It is by far one of our most popular developments in Galveston, and for good reason. Please click here to find out more about why I LOVE Pointe West.

Point West will do great regardless of the owner. They have done well and are one of the most requested communities on our site. We wish Centex the best as they try to navigate the economic woes so may builders are facing.