Bright Spot: New home pending sales are up 48% year over year since February MarketNsight, a leading real estate data and analysis provider, reports that pending sales in July were down 18% year to year – showing no significant change from the 19% decrease revealed in its January 2023 update. Unless interest rates drop significantly in the next few months, pending[...]
Today, SRP Lending is shining the spotlight on David Ray, a key member of the company and a lifelong resident of metro Atlanta. With over 40 years of experience in residential construction and development, Ray's expertise is foundational to SRP Lending's thriving hard-money lending business. "David's dedication to the field of construction and home building has helped shape the landscape of[...]
A recent Fortune article reports that Warren Buffet just made a big bet on the U.S. housing market, and from Blue River Development's perspective, it is easy to see why. The recent investment by Warren Buffett's Berkshire Hathaway in three leading U.S. homebuilders – D.R. Horton, Lennar and NVR – signals strong confidence in the U.S. housing market. The investments, worth[...]
In the first half of 2023, the housing market in the United States witnessed a significant downturn in turnover. Redfin reports that only 14 out of every 1,000 U.S. homes changed hands, a drastic decline from 19 out of every 1,000 during the same period in 2019. The drop is even more pronounced for large suburban houses. Let's dive into[...]
Redfin recently revealed startling findings about the U.S. housing market. To afford the typical starter home, a first-time buyer must earn $64,500 per year. This figure is up 13% from last year due to rising mortgage rates and home prices. The income needed to afford a starter home has risen over 20% in Fort Lauderdale, FL, and Miami -- more[...]
The U.S. housing market has witnessed a surge in luxury homes. According to a new report by Redfin, just over 8% of U.S. homes are valued at $1 million or more, approaching June 2022's record high of 8.6%. In Atlanta, MarketNsight data shows the same thing, with new and resale closings of homes more than $500,000 making up the bulk[...]
During the 1950s, a group of real estate developers combined and collected over 12,000 acres in Fayette County to build a community. Now encompassing 24 square miles in the county, Peachtree City contains five “villages” within city limits: Aberdeen, Braelinn, Glenloch, Kedron and Wilksmoor. Each contains active lifestyles, vacation-style living and southern charm. Having been named the best place to[...]
MarketNsight, a leading real estate data and analysis provider, reports that June’s collapse in housing inventory ushered in 2023’s first significant price increase. In late June, total inventory turned negative year over year for the first time in 13 months. Two weeks later, the effect of this drop in inventory was reflected in prices. Prices in July 2023 were up 6%[...]
SRP Lending, a prominent private money lender, is stepping up to offer alternative lending options to home builders and contractors facing tightened credit due to ongoing bank tightening and bank failures. The National Association of Home Builders (NAHB) reports that nearly 60% of builders have faced difficulties obtaining loans for speculative construction due to bank failures this year. A significant portion[...]
SRP Lending, a leading private money lending firm, is pleased to highlight its Private Lending Manager Melissa Bannister. In this role, Bannister utilizes her extensive experience and expertise in construction lending to bolster the company's robust portfolio and cultivate relationships with borrowers and attorneys. "Melissa is a consummate professional bringing more than three decades of experience in construction lending to our[...]