Home prices in BBT's core market of Va and the Carolinas remain stable even though sales volume is down. This is good for BBT and means limited writeoffs for mortgages and construction loans IMO. Here are typical reports:
Greenville SC: The MLS statistics "are encouraging overall," said Scott Evans, Upstate region president for BB&T Bank. "We are seeing some softening of the market. There is some uncertainty out there." According to Evans much of the slowdown here is in houses priced $500,000 and up. "That market is slower to move," he said. The median sales price for a house in the Greenville market was $151,000 for the first quarter, up 6.1 percent over the same period a year ago. The average sales price, according to the Greater Greenville Association of Realtors, was $182,768 for the same period, up from $175,705 for the first three months in 2007. Columbia SC: On the positive side, the median sales price — the point in the market where half of the homes sold for more and half for less — remained steady in Columbia at $143,000, according to the report. Harrisonburg Va: Home sales in the Valley are down 27 percent, according to the Virginia housing market's first quarter report, but the average price of home is up eight percent from last year. With the economy in a slump, Realtor Kemper Funkhouser says most people are scared to buy. However, he says the economy in the Valley is faring better locally than the rest of the nation. The average price of home in the Valley is about $225,000, while the average is closer to $200,000 nationwide. Richmond Va: In the immediate Richmond area -- Richmond and the counties of Chesterfield, Hanover and Henrico -- sales fell 33 percent, one of the largest drops in the state. Yet, prices remain stable in the area. The median price, with half the houses selling for more and half for less, was $225,000, up 2 percent from a year ago. Statewide, home sales fell 26 percent. The median price was unchanged at about $260,000.
MoBB&T named 2008 Export Lender of the Year PR NEWSWIRE Posted: 2008-04-25 10:00:30 NEW YORK, April 25 /PRNewswire-FirstCall/ -- BB&T Corporation (NYSE: BBT ) today was named as a 2008 U.S. Small Business Administration (SBA) Export Lender of the Year. BB&T officials accepted the award here on the final day of the SBA's annual National Small Business Week.
The award goes to the lender that generates the most SBA-guaranteed international loans in the previous fiscal year and for "steadfast commitment to supporting the growth and expansion of small businesses across the country, even beyond the scope of SBA loans," the SBA said.
"We're very proud to be recognized by the SBA for helping a large number of U.S. small businesses drive the global economy and create jobs for so many Americans," said Mark Edwards, president of BB&T's SBA Group. "We have a talented team of professionals who believe in the vital role small businesses play and are committed to earning the right to be their trusted financial partners."
U.S. small businesses represent more than 99 percent of all employers, provide 60 to 80 percent of new jobs, and "generate a majority of American innovations," the SBA said. This year's 45th annual National Small Business Week recognized the nation's nearly 27 million small businesses, including the Small Business Person of the Year.
BB&T's Atlanta-based SBA Group supports BB&T's 33 community bank regions with SBA-lending guidance and products for the bank's small business clients and prospects. re good news to the chagrin of numbie, billie et al, who always say writeoffs dont matter, 20 to 40 billion, versus a few million, and"it's the share price that matters", well take a looksee fellers at share price.