New Home Sales Up Significantly in Last Six Weeks
Conversations have been quite positive with our builder and investor clients lately. Rumblings of a recent uptick in new home sales inspired us to interview a sampling of builders to find out how much sales are up and why. One builder stated that this is the first time in 13 quarters that projects performed to budget. Those of us weathering the last few years have been well versed in missing our projections so to finally accurately “predict” performance is a major coup. Are the quarters of free falling prices and dismal absorption behind us... more.

Inland Empire’s Housing Supply Contracts
The story of the Inland Empire’s housing meltdown is a well known one. The inland market was the bastion of affordably priced homes in Southern California, drawing entry level buyers that were locked out of the high priced coastal markets. Loose lending standards drew a large proportion of subprime buyers and commute times lengthened as buyers headed further out into outlying areas. The implosion of the subprime market set off a chain of events which included a downturn in job growth, an increase in default notices, and a sharp decline in home values. By the end of 2008, the region was mired in foreclosures, resale values plummeted by more than 30%, and builders reported only half the new home sales volume seen a year earlier... more.

San Diego’s New Home Housing Cycle
Last year’s analysis of California’s resale price appreciation revealed the state’s existing home market recorded 33 years of positive price appreciation. On average, the market averaged an 8.1% annual return with periods of double-digit price appreciation in three of the four decades. Our analysis now turns to the new home market and some interesting price trends we’ve uncovered in our analysis of home values throughout the state... more.

Brian Schappert Adds Financial Valuations to Meyers Team
Meyers Builder Advisors announced that Brian Schappert has joined the company as Director of Finance adding a layer of financial expertise to the company. Brian will be working alongside the consulting group and the newly formed Asset Management Group to combine leading market research with sophisticated financial analysis, providing clients with an invaluable tool for making informed investment decisions. Mr. Schappert has spent more than 12 years in the residential and commercial real estate industry and has extensive experience in finance, banking, and asset management... more.

Where Foreclosures Have Hit Hardest in California
There were fewer properties in California seized in the month of February according to the latest statistics by Foreclosure Radar. While default notices in the state were up 17% from a year ago to 43,836 filings, foreclosures, or Notices of Trustee Sales (NTS) inched down 2% compared to a year ago. While it may appear that banks are foreclosing upon fewer homes, the dip reflects the passage of state’s legislation (SB 1137) last year that forced lenders to make contact with troubled borrowers and explore their financial options... more.

Uncovering Bright Spots in the Housing Market
Unprecedented stock market volatility, record setting unemployment figures, and billion dollar bailouts continue to grab the headlines. Most economists point to stabilizing the housing market in alleviating the economic stress. According to Lorry Lynn, Managing Principal, “While it is difficult to discern if the market has truly hit bottom, there are glimmers of hope amid the dire news.” We’ve identified five emerging trends that indicate progress is being made to find the bottom of the market... more.

David Hudson, Adds Planning and Entitlement experience to Meyers Asset Management Group
We are pleased to announce the addition of David Hudson as Director of the Asset Management Group being developed at Meyers Builder Advisors. Having been employed in both the public and private planning sectors for the last 25 years, Mr. Hudson has attained a broad perspective on both the philosophical concepts and practical realities of planning issues and methods by which to resolve potential conflicts between them... more.

Recent legislation drawing out first-time buyers?
Two new legislative measures were rolled out in the last two weeks, both specifically aimed at shoring up the housing industry. First, the federal economic stimulus package offers a 10% tax credit, or a maximum of $8,000, for first-time home buyers purchasing their primary residence and meet income requirements. More important to California buyers is the additional 5% tax credit, or maximum of $10,000, approved by state lawmakers when passing the most recent budget... more.

Have New Home Sales Finished their Dive?
The sales volume decline that began in 2007 was slight compared to the havoc experienced in 2008 for the new home market. With drastic price declines, short sales and foreclosures fueling the resale market, new home sales levels finished the year down 35% to 55% for detached homes and 25% to 70% for attached homes across the Southland... more.

Mixed Resale Market in Phoenix
According to the latest statistics from Arizona State University (ASU), sales of resale homes were up substantially in the Phoenix metro area in 2008 amid slowing economic conditions. There were 81,700 homes sold last year, up a staggering 50% from a year ago. When compared to historical levels, the volume of sales activity last year was robust, coming in 54% above the 21-year average... more.

Lorry Lynn, Leading Real Estate Expert Joins Meyers Team
We are pleased to announce the addition of Lorry Lynn as Managing Principal to Meyers Builder Advisors.  Lorry Lynn built her reputation as a housing market expert as Principal in the Meyers Group Consulting Services before transitioning to President of Meyers Group Consulting and Information Services during the growth years... more.

Assessments Influence Project Peformance
New home builders slashed prices dramatically over the last year, down about 10% to 25% throughout the Southland. In areas that incur a significant assessment, whether through the use of mello roos or community facility districts (CFDs), these lower prices result in a considerably higher total tax rate (as a percentage of home price)... more.

Jeff Meyers is Back in the Game
OC Metro Business
These are busy days for Jeff Meyers, a man who – in a sense – is reinventing himself in the real estate consulting arena. After spending 20 years building his company into the largest homebuilding consulting firm in the United States... more.

Homebuyers seek help after builder walks away
East Valley Tribune
Industry watcher John Fioramonti, senior managing director of Scottsdale-based Meyers Builder Advisors, said Randall Martin Homes is a prime example of a startup builder that was hoping to make big bucks at the height of the construction boom but couldn't survive the market downturn. more.

For Single-Family Builders, Going Vertical Carries Risk
CNNMoney.com
"You've got to have some long-term financial strength to be able to carry the expense of that high-rise ghost town until you've sold it," says John Fioramonti, senior managing director of Meyers Builder Advisors, a real- estate consulting firm. more.