Betty Poore: What's New on the Charleston Coast Blog: Housing Market Rebound?

Charleston Coast, SC Real Estate | Betty Poore
What's New on the Charleston Coast?

Featured Homes
Bookmark and Share

Quick Search

Advanced Search

Click Here

Search by Listing #

Search by Street Address
Free Email Updates

Send Betty Poore a TXT Message


Visit Betty Poore's Facebook profile
Visit Betty Poore's Zillow profile
Visit Betty Poore's LinkedIn profile
Visit Betty Poore's Twitter account

Charleston Coast Foreclosure and Bank Owned Property Email Alerts from Betty Poore

What's New on the Charleston Coast?
Subscribe to Betty Poore's What's New on the Charleston Coast Blog by Email

Sunday, June 15, 2008

Housing Market Rebound?

Below is an interesting article on the Housing Industry and one bit of good news admist all the doom and gloom of late.

Lampert Puts Money On Housing Rebound
Stakes Being Taken In Battered Builders, Lenders and Retailer

By GARY MCWILLIAMSJune 12, 2008; Page C4

Billionaire hedge-fund manager Edward S. Lampert is placing new bets on a U.S. housing recovery, buying stakes in beaten-up home builders, mortgage lenders and a home-improvement retailer.

Mr. Lampert's ESL Investments Inc., which owns half of department-store giant Sears Holdings Corp. and 40% of car retailer AutoNation Inc., has previously focused with mixed success on retail and bank stocks.

Recently, the Greenwich, Conn., hedge fund, which controls investments it valued at about $11.6 billion in its most recent government financial report, began picking up shares in hard-hit housing-related stocks. ESL acquired small stakes in U.S. home builders Centex Corp. and KB Home, according to its latest Securities and Exchange Commission filings. At recent prices, the stakes in the two home builders are valued at $10.4 million and $10.8 million, respectively.
ESL also is tip-toeing into mortgage origination and servicing, acquiring about four million shares of CIT Group Inc., a struggling subprime home and commercial lender, as well as 1.4 million shares of PHH Corp., a mortgage originator and mortgage-service company. The shares are valued currently at about $35.5 million and $25.2 million, respectively. ESL spokesman Steve Lipin declined to comment on the investments.

Mr. Lampert's purchases come as some analysts think the housing market's decline may be nearing an end.

In another bet on a housing turnaround, Mr. Lampert this spring increased his stake in Atlanta-based home-improvement retailer Home Depot Inc. ESL now holds about 22.7 million shares valued at $590 million, up from 16.7 million shares last year.

Labels: , , ,

# posted by Betty Poore @ 11:27 AM

This page is powered by Blogger. Isn't yours?

Betty Poore Your Connection to the Charleston Coast
Dunes Properties of Charleston, Inc. Direct: .. (843) 442-1889
1400 Palm Blvd Fax: (866) 279-2260
Isle of Palms, SC 29451 Send Email to Betty
Dunes Properties of Charleston, Inc., 1400 Palm Blvd, Isle of Palms, SC 29451

Charleston Coast, SC Real Estate | Betty Poore
About Betty Poore's Charleston Coast, SC Real Estate Website: The web site provides Charleston, Seabrook Island, Kiawah Island, Folly Beach, James Island, Sullivans Island, Isle of Palms, Dewees Island, Daniel Island, Mount Pleasant and the Charleston Coast, South Carolina real estate information and resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other realty property in the Charleston Coast area. Betty Poore Sometimes spelled as Bettye, Betti, Bettie, Bety, Beti, Betie, Poor, Pore, Porre, Pour, or Poure has services to help you get the best value for your Charleston Coast home and this website offers home buyers and home sellers a superior comparative market analysis (CMA), a way to view real estate and MLS IDX listings including virtual tours, prepare your home for sale, and more. Investors looking for real estate investment properties to invest in need look no farther. Anyone selling a home, buying a home or seeking housing can learn more about our realty services, and will appreciate working with a  Charleston Coast REALTOR who knows  the area so well. Through trusted partners, we also provide real estate and financial services to consumers looking for houses for sale or selling their home in Charleston Coast, SC, such as mortgages, credit history, new homes, foreclosures and other services. If you've already tried to go the for sale by owner (FSBO) route and find you are needing a partner who you can trust in the sale of your most precious asset, Betty Poore can take care of your special needs. It really doesn't matter if you spell it REALTOR, Realator or Realter, realty, realety or reality, real estate or realestate, Betty speaks  your language.
Great Real Estate Agent Websites for Realtors - Best Real Estate Web Site Design for Realtors (c)2010 HoopJumper WebSystems, All Rights Reserved (949) 309-2299 | Merchants
Bookmark and Share