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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LP buys back chunk of debt
Posted on November 4, 2009 at 8:25 amIn its quarterly filing with the SEC, Louisiana-Pacific says it spent $113 million late last month to buy back more than a third of its debt series due in 2017. The company (Ticker: LPX) will take a $21 million charge this quarter to account for the deal.
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Apartment rents to slide further
Posted on November 2, 2009 at 7:47 amData from the National Multi Housing Council shows the apartment market finding its feet, but observers don’t see price support coming soon from the job market.
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Clarcor’s retail push has to settle for a single
Posted on 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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Another steady retreat from a regional bank
Posted on October 27, 2009 at 10:18 am
Similar to Green Bankshares, Mississippi-based Cadence Financial is flushing out of its system a bunch of soured Middle Tennessee real estate loans. Cadence’s Sept. 30 exposure to Nashville’s development scene totaled $122 million, down 15 percent from June 30 – versus Cadence’s companwide shrinkage of 3 percent – and a whopping 38 percent from the end of 2008.
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Uncle Sam builds a floor for the housing market
Posted on 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.
Psst, property managers – Lookin’ for an exit strategy?
Posted on at 10:24 amNorth Carolina property management company William Douglas is a willing buyer.
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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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