The biggest hurdle I am seeing for many people wanting to build a custom home is in the area of lending. If you're paying with cash as some are (and they are getting some good deals) then lending is not an issue. For those that are looking for a construction-to-permanent loan, we are seeing banks that used to require 5% down now requiring 25% down. And some are requiring that a person's existing home be sold before a construction loan can be opened - and for good reason as we've learned in the past several months.
So, this post is primarily to let anyone that is reading know that Master Plan Homes is still building custom homes and we're looking forward to what the rest of 2009 holds.
Here is a picture clue of one of the projects we're working on right now. Its a first for us...
Any guesses?
