Kevin Belew This is Me

 Web References

1. 1. www.bellevilleview.com

   www.bellevilleview.com/stories - [Cached]

   Published on: 5/1/2008   Last Visited: 5/1/2008

   "The key issue is my partner and I our committed to this business and we're not walking away from anything," Kevin Belew, owner of Norfolk Homes, a developer with projects going in Washtenaw and Jackson Counties said. "We're going to stick this out. Hopefully surviving the worst real estate situation of our generation will come into effect when we later go to bank and with buyers after things improve. Viability is important."
   
   Norfolk saw sales tapering and began acting earlier than most companies by reducing overhead costs and cutting their staff, Belew said.
   
   Despite this the company is sitting on a quite a bit of land it purchased before sales began dropping - the entitlement process on land in Washtenaw County can take years and their surplus land was purchased before 2005.
   
   "We did some not so smart things, too, but we have survived," Belew said.
   ...
   Belew said Norfolk is exploring the possibility of working out of state and Singh has taken advantage of a housing boom in North Carolina.
   ...
   Belew is considering steering Norfolk toward MICHDA-funded projects, but they still have condos and single family homes to move, and are - on a limited basis - offering a major incentive to a potential buyer. The company will purchase the buyer's home so they can get into the newly built Norfolk home, then take care of the proper refurbishments of the old home before putting it on the market.
   
   Belew believes part of the problem with sellers is psychological. They don't know what to ask for their house or how to improve it, and Norfolk is in a much better position to make that assessment and take action.
   
   "Our construction guys go in and in a day we can make a home look than a homeowner can in months," he said. "Truly, we're just trying to figure out ways to help the buyer psychologically get over the hump."
   
   Belew said the market in Washtenaw County, where the unemployment rate is slightly below the state average, is slightly better than in other areas, and he hopes the increase seen in company sales will continue as buyers gain more confidence. Norfolk sold 11 homes in the first six weeks of 2008, which Belew noted is much better than a year ago.
   
   Like Shelton, he partly attributes the increased sales to home prices bottoming out.
   
   "There's no question in my mind that if you have a steady job and can get a mortgage, then you should be buying," he said. "This is the bottom, if not near, and you can buy a whole bunch of house in real nice location for a low price right now."
   
   For 2008, he sees as a year of stabilization for his company and the market.
   
   "In Michigan I think we'll see slow improvement," he said.

2. 2. www.norfolk-homes.com

   www.norfolk-homes.com/staff_pa - [Cached]

   Published on: 4/21/2006   Last Visited: 4/21/2006

   Kevin Belew Executive Vice President KBelew@norfolk-homes.com

3. 3. www.norfolk-homes.com

   www.norfolk-homes.com/company/ - [Cached]

   Published on: 10/9/2006   Last Visited: 3/22/2008

   "We're honored by these awards," commented James Franke and Kevin Belew of Norfolk Homes . "Being recognized by your professional peers is the highest praise and these awards represent the quality and dedication of our Norfolk Homes' family."