Industry tidbits from the Columbus Dispatch 9/30/07

The ARM mess that the nation is in has yet to peak! In March of 2008, $110 billion in ARM will reset, and will hopefully decline pretty steeply in the months following.

How the local home builders rate, resulting from a survey by JD Powers & Ass. To be eligible to be a part of the study, the builder had to close at least 150 homes in 2006 in Franklin & surrounding counties. Overall, Centex Homes was the winner in the categories of design, customer service & quality. M/I Homes came in 2nd in customer service, followed by Dominion Homes, Lifestyle Communities, Epcon Communities, Beazer Homes, Village Communities, Rockford Homes & Maronda Homes. Dominion Homes ranked 2nd in quality, followed by Maronda Homes, Epcon, Beazer, Village, M/I, Lifestyle & Rockford. M/I came in 2nd in design, followed by Beazer, Dominion, Rockford, Epcon, Village, Lifestyle & Maronda. The results are based on a survey of 720 local homeowners who have lived in their home from four to 18 months.

In August of this year, 1 in every 281 homes were in foreclosure in Ohio. Surprisingly, according to bankrate.com, 34% of homeowners have no idea what type of mortgage they have. I have a feeling these two statistics are very closely related to one another...

New home sales fell the most in August for the first time in seven years.

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