Double-digit days for LP, O’Charley’s
Posted on November 5, 2009 at 2:57 pm
Shares of Louisiana-Pacific (Ticker: LPX) are basking in the afterglow of analyst praise and have extended the strong run that was cut short yesterday. Heading into the close, they’re up more than 17 percent.
Why O’Charley’s is up about the same amount is more of a puzzle. Yes, many industry players are having good days, but this Dow Jones chart shows Nashville-based O’Charley’s (Ticker: CHUX) is outpacting them by a factor of two to one.
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Analysts impressed with LP
Posted on at 7:43 am
Although they rolled over late in the day like the broader market, shares of Louisiana-Pacific (Ticker: LPX) had a nice Wednesday after several analysts praised Rick Frost’s crew for their steady hand during a “sloppy” economy. D.A. Davidson analyst Steven Chercover raised his rating on the company to ‘buy’ from ‘neutral.’
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Clarcor’s retail push has to settle for a single
Posted on November 2, 2009 at 7:33 amThe Franklin-based manufacturer’s pilot program to sell high-end HVAC filters under its Puralotor brand has unexpectedly ended, but CEO Norm Johnson is ready to move forward.
“Our team did a terrific job in all aspects of this project, and nothing we learned over the past four months changes our view that we have a winning combination of product, packaging and price. We are as excited about the retail marketplace as ever. Although we would have loved to hit a home run out of the box, the fact is that we are just beginning our retail efforts.”
Shares of Clarcor (Ticker: CLC) fell 3 percent Friday, pushing their 2009 losses to 11 percent.
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This is how the housing inventory will be whittled down
Posted on October 30, 2009 at 9:14 am
Numbers from MTSU’s BERC show the value of Nashville-area building permits the past three months was only about a third of the volume from the boom years. Check out the raw numbers and other regional stats here.
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The housing crisis will peak in 2011
Posted on October 28, 2009 at 11:59 am
Now that the subprime mortgage default wave has played itself out, it’s time to prepare for the damage that will be inflicted by souring option ARMs. The rates on many of those loans will start resetting next spring.
Something, anything
Posted on at 10:28 am
Crosland takes a drastic step in an attempt to start shipping condos at its Terrazzo tower. It will hold an auction the weekend before Thanksgiving with minimum bids starting below $200 per square foot.
The condominium homes offered in the sales event include a broad array of floorplans, and minimum offering bids are approximately 40-50% of the list price. One-bedroom and one-bedroom den residences available at the sales event range from 891 to 1,150 square feet with minimum offering bids of $159,000 - $225,000. Two-bedroom, two-bath and two-bedroom plus den residences available at the sales event range from 1,320 to 1,617 square feet with minimum offering bids of $250,000 - $310,000. Three-bedroom, three-bath residences available at the sales event have 2,090 square feet with minimum offering bids of $399,000. The minimum bid prices include one parking space in the access-controlled, underground garage.
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The types of homes that are actually selling
Posted on at 8:06 amBarry Ritholtz passes on some numbers about just where the rise in home sales is coming from this fall. Which raises the question of whether the housing market really is ready to stand on its two feet again. Those commenting here are of a pretty firm opinion that it isn’t.
Let’s think for a moment…70% of September sales $250,00 and under. Well of course! The $8,000 credit almost covers the down payment in this range (FHA 3.5%.) Now with a $15,000 credit we can start to move some of those @ $500,000.
Give me a break…
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Uncle Sam builds a floor for the housing market
Posted on October 27, 2009 at 9:21 amGoldman Sachs researchers say the government’s interventions in the housing market have added 5 percent to the value of our homes. The question is how long that crutch will carry us.
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The impact of the mortgage bust
Posted on October 26, 2009 at 8:08 am
The hangover pain from the biggest housing boom in history hasn’t been shared equally. The nation’s biggest lenders have been grabbing chunks of market share as massive numbers of small lenders have shut their doors.
In Tennessee, the number of licensed mortgage originators has fallen by more than half since the summer of 2006. For more on the changed mortgage market, check out this story from our print edition. You can also click on the chart at left for the full numbers.
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Your home will rise in value in the next year
Posted on October 23, 2009 at 11:37 am
First American CoreLogic says national home price numbers fell at a double-digit pace over the summer, but that the pendulum will swing come spring.
The new forecast projects price declines will continue throughout the remainder of 2009 before hitting bottom in March 2010, based primarily on the impending expiration of the first-time homebuyer tax credit and the potential shadow inventory of foreclosed homes expected to hit the market soon.
New home appraisal rules put on ice
Posted on at 7:57 amAs part of their vote on a new consumer finance regulation bill on Thursday, lawmakers placed an 18-month moratorium on the Home Valuation Code of Conduct, a controversial new(ish) rule that governs the home appraisal process. The HVCC separated the mortgage broker from the appraiser, who instead reported to the lender. Not surprisingly, the broker community reviles the rule, which they say adds time and cost to the loan closing process.
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There is a light at the end of the tunnel
Posted on at 7:21 am
So when was the last time you saw the phrases ‘housing market’ and ‘major turn to the upside’ in the same sentence? Check ‘em out here, but don’t get giddy just yet.
[T]here is a buying frenzy right now in the existing home market, especially at the low end. Unfortunately existing home sales add little to the economy (compared to new home sales). And the impact is even less than usual right now because many of the marginal buyers are using the first-time homebuyer tax credit as their downpayment, and have little additional money to spend on furniture or upgrades.
SEE ALSO: The bottom is just five months away!
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State’s construction job losses among worst in country
Posted on October 22, 2009 at 10:08 am
Tennessee is 48th on an Associated General Contractors list that tallies the number of construction jobs lost in the 12 months to September. Only the hard hat job markets in Michigan, Arizona and Nevada fared worse.
“These figures should serve as a sobering reminder that public investments alone are not going to turn around a trillion dollar construction industry,” said Stephen E. Sandherr, the association’s chief executive officer. “The three most important issues in Washington ought to be jobs, jobs and jobs, which is why we need pro-growth measures like those we outlined in our blueprint for recovery.”
SEE ALSO: Our recent print story on the possibility of a construction labor shortage
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New green supply store to open on 12 South
Posted on at 8:11 am
Homeowners looking for sustainable choices for their home design and fixtures will soon have a new option. Local couple Rachel and Edward Martin are soon opening an eco-friendly home store in the 12 South area. Located in a former home across the street from Rumours Art Bar, (n)habit will offer green products such as paint, plaster, bamboo carpentry and water-efficient bathroom fixtures.
The store will be stocked with 70 products, all with a minimal amount of Volatile Organic Compounds (VOCs). A grand opening event is slated for Sunday Nov. 8 from 1 p.m. to 6 p.m.
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No Lowe’s for Spring Hill
Posted on October 20, 2009 at 10:10 am
The home improvement retailer has hired Atlantic Retail Properties to sell an acre where it had planned to build its second Spring Hill store. The company runs about 15 outlets in the Nashville area.
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