by Bonnie Cook & Al Heavens
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T.H. Properties execs are optimisticWhen they responded to Builder magazine's 2009 survey of the Top 100
U.S. home builders, Todd and Tim Hendricks listed "reducing debt and
lowering operating expenses" of their company, T.H. Properties L.P., as
two top accomplishments of 2008.
The third: T.H. Properties had "lived to fight another year."
The year seemed to end abruptly Tuesday, when the Hendricks brothers
announced that the company, known as THP, was "temporarily suspending
operations."
But yesterday, at THP's storefront headquarters on Harleyville's
Main Street, Todd Hendricks continued to exude confidence, telling
about 50 buyers, homeowners, and contractors demanding answers that the
company was not "going anywhere."
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by Al Heavens
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Slide continues for existing-home sales
Existing-home sales in the eight-county Philadelphia region
continued to slide in March, declining 25 percent from the same month
in 2008.
Median prices fell 7.5 percent year-over-year, according to
Prudential Fox & Roach's HomExpert Market Report, which tracks
sales through data from Trend Multiple Listing Service.
Nationally, booming foreclosure sales in the Southwest and Florida
did not lift the numbers out of the negative range. Sales declined 7.1
percent from March 2008, while prices fell 12.4 percent.
Some housing economists tried to put a positive spin on the national numbers yesterday; others did not.
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