The smaller homebuilder that we spoke with builds mostly in California’s Central Valley. He said that he had a meeting with the people from CalPERS last week where they warned him that they were going to be reducing their development loans to builders and that he should start looking for an alternate source of funding.
Not good news for smaller to mid-sized builders that have relied on CalPERS
I am a longtime real estate agent who has pretty much seen it all during the housing boom as bust. With experience in selling high-end property and low-end foreclosures, raw land, short sales, development work, apartment buildings, and working with investors, I bring a well-rounded perspective to my work. I cover most of Northern Alameda County and Western Contra Costa county and I live in Danville with my three kids. You can reach me at gregpfielding@gmail.com or call me at 925-212-2908
View all posts by Greg Fielding
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October 1, 2009
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