Click Here

REALTORŪ Magazine Online: The real estate professional's business support tool.

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  April 4, 2011  |   Builder Takes Different Approach, Starts Renting
After sluggish sales in the new-home market and a tight lending environment that is keeping many buyers out, one home builder is taking a new approach to improve its cash flow: Renting out recently built homes.

Beazer Homes is adding a new division to its company that will buy — at steep discounts — recently built homes and then rent them out. The company will purchase homes built after 2004 that are primarily foreclosures or short sales.

Beazer Homes will roll out its new division by starting to buy homes in Phoenix before moving to other areas across the country. It expects to have more than 100 homes in its pre-owned portfolio by the end of fiscal 2011, Reuters News reports.

Source: “Beazer Gets into Used Home Business,” Reuters News (April 4, 2011)


Browse all of today's news
E-mail this page to a friend
Give us feedback


Search news
 Launch my search
 
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
 
 
SHARE YOUR INSIGHTS
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!