Keeping that hard hat handy: community bankers find challenges of residential construction lending and other commercial real estate finance a variable affair.

From: ABA Banking Journal | Date: January 1, 2008| Author: | Copyright information

Last year saw the country's largest home builders backing out of options or contracts on land that hadn't been built on or developed yet.

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D.R. Horton, Inc., the country's largest homebuilder, ended its fiscal year on Sept. 30, 2007, with a net loss of $712.5 million. A hefty portion of that came from writeoffs of deposits and pre-acquisition costs related to land option contracts that the company chose not to pursue--$107.3 million for the year, and $40.3 million just in the company's final quarter.

To Horton and other large builders, houses ...

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