I don’t know how many times I’ve had write this blog entry, but I guess I’m going to write it one more time.

Here we go- housing is going to crash again, and the world is coming to an end.  If I hear another “expert” get up and talk about the “housing market” and how horrible it is.  Let’s be honest- the housing market is very challenging right now.  Capstone Homes is working non-stop to be the best value in Delaware Beach Homes, and it is a hard time to get this done.  Somehow, in the midst of all this horrible news for new home builders, Capstone Homes has managed to reduce our company debt 65% year-over-year.  If we don’t sell another home this year, our sales we be up by over 30% in 2010 over 2009.

So what does that mean- let me say it again.  There is no national housing market.  It’s that simple.

According to RealtyTrac, this is all you need to know about foreclosures:

“10 states account for more than 70 percent of national total
California alone accounted for more than 22 percent of the national total in May, with 72,030 properties receiving a foreclosure notice during the month — up 3 percent from the previous month but down nearly 22 percent from May 2009.

With 50,685 properties receiving a foreclosure filing during the month, Florida accounted for nearly 16 percent of the national total in May despite a nearly 14 percent decrease in foreclosure activity from May 2009. Florida foreclosure activity increased nearly 5 percent from the previous month.

Michigan accounted for 6 percent of the national total, with 20,322 properties receiving a foreclosure notice during the month, and Arizona accounted for nearly 5 percent of the national total, with 16,097 properties receiving a foreclosure notice.

Illinois foreclosure activity decreased 20 percent from the previous month, but the state still accounted for nearly 5 percent of the national total, with 15,061 properties receiving foreclosure notices in May. Illinois foreclosure activity was up nearly 38 percent from May 2009.

Other states with foreclosure activity totals among the nation’s 10 highest were Nevada (14,346), Georgia (13,778), Texas (11,137), Ohio (10,379) and New Jersey (7,993).”

For the entire press release, click HERE.  Even more interesting, Delaware’s foreclosure rate actually DROPPED year-over-year.  See USAToday, Here.  California’s foreclosure rate is 1 in 186 homes.  Delaware’s foreclosure rate is 1 in 1086 homes.  That little zero makes all the difference.  There is no national new home sales market, for most people do not conduct a nationwide search for new homes.  People pick a new home based upon location, so there will be no national new home recovery… there will be individual market recoveries.

My point is that there is a foreclosure crisis, but it isn’t really here in Delaware.  Make no mistake, the housing market is not going to get much stronger until there are some government policies that grow the private sector (and not the government), but it’s a great time to buy.  The Delaware housing market isn’t crashing.  It’s sputtering along, which makes this a great buyer’s opportunity.  If you are in the market for a Delaware New Home, stop by our new sales center on Coastal Highway in Lewes and see the great value in a Capstone Home.

Come here and see the value in a Capstone Home!