Housing Showing Signs of Life

" Take the bag and there are. The facts for you regarding the housing market. "

" Well despite a surprise hit to new home sales are we still seeing more positive signs that negative Jeff Flock is taking that question to the people and John Hall homes and -- Chicago suburb of Elgin Illinois Jeff. Lots -- lots."

" Here you can see a lot number 100 bear in the highland woods development outside Chicago -- you report David in Elgin Illinois there's number 101. You'll see any houses they are but there are signs -- positive. In the housing numbers yesterday the headline was negative. But let's talk a little deeper want to throw up the numbers of homes that are for sale that is to say the inventory of new homes right now. 200 I think that number is 251000. That is the lowest inventory level since 1982 they're really working through the inventory. And the -- John Paul Holmes John Hall junior his brother Josh. Eight you are on the verge of going out of business when we were just out of -- April this year and then. And then sales started happening out plan that we put in place for a new neighborhood went online and actually start to work and and and people came out of I -- these guys had the first and -- Turkish don't want to show that the house that's the key thing I like our viewers like to see. You had the first building permit and all of Kane County Illinois. For awhile bear the first one in 2009. It like it it took about nine months to get it yes and at saint Charles as well its rights -- you think Charles which is where the next town over. I want to show Dave and where is this home here because this is what a lot of developers. Almost gets stuck -- you're still in the not on this one right you built this yes. On -- gifts we did but it we've -- it as a model knowing that we have it for awhile. And as spot tourists around here you can see that you now bring people in the year to look at this and say this is the kind of finish I can do it mr. Yes and our clients that that -- in this area disciplinary it'll come here and work with my sister Jessica hall -- archer designer and then they actually will look through work things out for -- things like that here that are sites that are but he bowed heads upstairs relative -- go -- up top because as the room on this is incredibly you're going to sell this for what 850000. That would -- eight point nine. 829 now what I get a 469. At all fixed idea not just for me all or maybe just aren't really isn't David bar. One more set of numbers go up there -- sort of interest because we look deeper to these numbers. Percentage of home sales usually about 15% government new homes like this one. Now only about 8% so there's some pent up to -- and you'd think yeah."

" I think there is I think there's further steps that need to be made it went expanding via first time home buyer tax credit. Making it a little bit larger giving it to everybody instead of just first time homebuyers. But also maybe bring in the new initiative to bring in lower financing. Maybe a 3.5 percent fixed rate mortgage. For anyone that wants to buy their new home. Or refinance their home for their primary on enough for investors Jeff tell your -- and turn around them and then look at who's on television."

" until they lose that in a huge so let's get Fox Business Network on polo pony up I didn't know that violence -- surprised. Utility come back next hour -- even -- John has on his iPhone. He's got the new act you've got the new Fox Business California owned and check it out so we'll show that Syria -- am noticing what that looks Robert -- about --"

" Very happy and and fascinated by the fact that one minute he was on the verge of going out of business and then he was able to get -- not around so good for them."

" his father his father your brother John senior learned his trade in the navy seabees essentially you know they construction brigades -- all the Marines around and has been a successful builder here for years so here good -- Americans out here -- hard to believe that the price of that house buys you a two bedroom one bath a little apartment tiny. Manhattan in the market I'd rather have my house thank you."