“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Builder Spotlight: Newmark Home's Parent C...

Builder Spotlight: Newmark Home's Parent Company Files Bankruptcy

I was in a Austin real estate market update class this week where Residential Strategies gave a year-end summary and forecast for the Austin area.

Here is what was said for the January 2008 market summary.

Newmarkhomes_500_21. Texas isn't doing bad compared to other states, but many national builders are in trouble due to their activity in Florida, Arizona and California.

2. Dallas, Houston, and San Antonio real estate markets are overbuilt in the affordable home price ranges. Builders are doing auctions and fire sales to get rid of their sub-$150k inventory.

3. Austin continues to buck trends and will continue to do well in 2008. The downside is that national builders in Austin will still suffer because their parent companies are in trouble.

4. National builders located in Austin have already pulled back on inventory, which may cause a shortage in 2009.

WHY NEWMARK HOMES AND OTHER AUSTIN BUILDERS MAY BE IN TROUBLE

Continue reading "Builder Spotlight: Newmark Home's Parent Company Files Bankruptcy"

Posted Monday Feb 04