In my last post I mentioned building permits were down and a brief reason as to why. A huge reason is the lenders have more stringent lending practices. There was an article in the local paper that goes into more detail and explains how and why the smaller builders are struggling. One of the reasons for higher lot prices has to do with the cost of subdividing, development, and the amount of time it takes to do both of these in Mesa County. Also, notice that the statistics at the end of the article aren't for our local market except for one concerning foreclosures and I am questioning how accurate that statistic is. If you go to my previous post on foreclosures you will find a link that will take you to a list of current foreclosures.
Loans Hard To Get For Some Grand Valley Developers- This is the article from the local paper.
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