“New-home sales are way up, so much so that we’re selling off our inventories, which are still historically below accepted equilibrium levels,” said Alan Banks, president of the Home Builders Association of Charlotte.
For many, 13 is a dreaded number, a cursed pair of digits to be avoided at all costs. But ’13 might be a year of luck and plenty for some Charlotte-area developers and real estate and construction companies. Our 13-part series will take a look at companies and people expected to be among the busiest and biggest newsmakers this year.
“The builders will have to be financially qualified with effective business models and financial discipline," said Bill Bickett, who is spearheading the creation of the Charlotte-based division of the bank. "But smaller builders have had more problems getting financing. We’ll be looking at loans from $2 million to $6 million. That’ll be our sweet spot.”
When Stephen Pace, owner of Charlotte-based Pace Development, looks around the area, there’s something he’s not seeing, and it worries him: lots that are developed and ready for new homes to be built on them. Well, lots that are in desirable locations, anyway. And that’s a major problem for a new-home market that has yet [...]