2011 was a great year

As 2012 starts, the Construction Capital Source team had a chance to look back to 2011, and we realized that 2011 was a wonderful year for our company.

Our construction lending in Idaho and Utah reached excellent levels, in part because borrowers seem more confident to build new homes, and in part because our small company actually took quite a considerable market share of the residential construction in both states. Our quality of service and dedication to the customer are renowned amongst the building professionals.

We appreciate the trust and loyalty of our customers, and we look forward to new opportunities to serve you in 2012.

Construction Capital Source Facebook Sweepstakes

CCS is doing to kick off of its Facebook page. CCS will be regularly giving away $50 gift cards to The Home Depot (I know you can all use them) to those who go on our Facebook page and like us.

You can find the Construction Capital Source page here.

On our Facebook page, we will be regularly posting special discount pricing on loans, loan guideline changes, and other useful information for builders, homeowners, and brokers interested in construction lending.  So it will be a useful tool to those who like our page.

Also, for those of you who have been the recipient of my personal touch of customer service by doing business with me, I would greatly appreciate it if you could post on our wall a short recommendation for CCS, or for me personally.  We want to let everyone know how nice it is to do a construction loan with people who care.

Thank You,

Julie Prince
Construction Capital Source

CCS Golf Promo

Sometimes things get tough, even if you know what you are doing. This is true in building a house as it is playing a round of golf.

We at CCS can’t do much to help you with your golf swing, but we can be quite a resourceful partner during the financing of your construction loan.

Let us show you what we can do for you!

CCS Construction Loan Draw Tips

Some valuable tips that make the disbursement of construction loan draws with Construction Capital Source a walk in the park.

Customer Testimonials Video

Check out our new video, with testimonials from some of our many satisfied customers.

New Learning Center

The average American has 7 different mortgages in their lifetime.  Most people know how mortgages work, and what to expect from the process of financing a home.

Enter construction loans, with their completely unique rules and requirements. In order to help educate our borrowers that are getting ready to build a home, our builders and mortgage brokers; we have created a new section on our website called LEARN.  We already loaded 6 videos and are planning to continue providing more resources to help educate and train our friends.

Our new LEARN section can be found here.

ccsloans.com has a new look

While the good products and friendly service at Construction Capital Source have been a constant over the years, as of yesterday our online look has been updated.

Our old web look was OK, but it was put together when Lord of The Rings was still in theaters. That is 350 years in website years…

You probably noticed the video on the landing page explaining how to package (cook) a construction loan. This is the first posting in a series of videos that will be posted in or site over the coming weeks. The goal of this new media approach is to help our customers better understand how a construction loan works, how to put a file together, and showcase our friendly hands-on approach to approving files.

New blossoms amidst the snow storms

Construction lending has always been a seasonal industry, specially in Utah and Idaho. In recent years January has been a time of catching up with document filings and preparations of the “busy season” that starts in the Spring.

So we were pleasantly surprised when we experienced one of the busiest Winters we had for several years. Many borrowers with great credit are ready to break ground as soon as it warms up a little and the construction season will be on its way.

While it’s always great to be able to help our customers finance their properties, it is great to see that people are feeling confident in their employment and that the future looks bright. Those are necessary conditions for a family to decide to build a new home. The confidence that each family feel in their future is the most important economic indicator to be watched during these difficult financial times.

Not around, but through…

There is no quick fix for the housing market troubles, no stimulus, tax credit, or government policy that can permanently fix the direction of the real estate markets.  I came across a good article talking about absorbtion.  There is no way around it–excess inventory needs time to be absorbed, and it looks like we are ploughing through it, at least.  Check it out:

http://www.bloomberg.com/news/2010-09-08/homebuilders-revive-stalled-u-s-projects-as-banks-unload-lots-at-discount.html

Pat on the Back…

I thought I would take a moment to pat ourselves on the back.  I attached a story from the Salt Lake Tribune which doesn’t mention us by name (even though it should), but really was a comlement to our business, and our model.

The story took me back a few years to more aggressive lending days.  I had a sales associate at the time come in every week lamenting that we lost a 95% spec loan to Centennial Bank, Barnes Bank, or somewhere else.  We would try to tell him that if they lent that aggressively, they wouldn’t be around that long to be our competition.  Turns out, they lasted longer than that particular salesman, but true the statement turned out to be.

Not just to single out Centennial and Barnes, we could also add First Horizon, IndyMac, WaMu, and a host of others to the list of former competitors who had years of executive banking experience, more capital, resources, and labor, and who we outived.  Even Zions Bank has taken severe construction related losses, and if they had to only rely on construction lending, they would’ve bitten the dust as well.

We have survived the storm when all we do is construction lending, and that speaks volumes to how we do it.  We do it with common sense.  Sure, we have had foreclosures, but at a fraction of a rate as almost every community bank and national lender out there.  So read the article below, and as they are pumping up Bank of Utah for being so smart for surviving by not doing as much construction lending, think of Construction Capital Source who survives while lending on construction.  So we might not be as smart as Bank of Utah (because, I mean, they’re a BANK…) but if you needed an expert in construction lending, who would you call?

http://www.sltrib.com/D=g/ci_15094054