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How has the large number of foreclosures affected homebuilders The economic environment facesd by homebuilders has been terrible in almosttevery way. Neither builders nor their customersd have been able to obtain financing upon favorablew terms and many have been unable to obtain financingbat all. It has become so bad that buildefr lines of credit have beenfrozen and, in some called. Very recently, appraisal issues have arise n because foreclosure properties can beconsideredc “comparable.
” This has made the challenge of obtaining financingt approval even more Also, the quantity of foreclosures we are experiencing has had a dramaticf negative impact upon a large group of companies and their employees. Many builders have restructured or left the and many skilled workers have leftthe Foreclosed, surrendered, and “in homes are available on the market at discountedx prices, in direct competition with builder product. Abandonerd and “for sale” properties throughout subdivisions and neighborhoodsdeter sales, and affecf property values. Hopefully, we are nearing the end of this “foreclosurew boom.
” What kind of legal cases are you seeing becaus e of the residential realestate problems?
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