November 2023 Update

The Big Idea:

See you at the Q4 Investor Update on 16 November!

House construction is underway!

We’ve got several homes in various stages of design, permitting, and construction.  Here is our PDF called “lot status” to see where each lot is in the process! 

Sales are underway!

When it comes to selling homes, we’re in the midst of the slowest season of the year.  Yet we’re also in the midst of a huge housing crisis, and we’ve seen plenty of enthusiasm and interest.  We’re laser-light focused on turning interest into sales, and we’ll give you an up-to-date report at the Q4 meeting!

Interest Reserve Account

The interest reserve is currently decreasing at a faster pace than originally projected due to a slightly slower pace in the projected home starts.  With that said, it is still showing that the reserve should carry the project up to the March 2024 payment.  We will closely monitor the reserve as we get closer to this date to weigh the benefits of homes sales and their impact of operational cash flow.

The status of our loans

Check out our website

This is a great place to see our 7 beautiful home designs, learn a little bit about Ferndale Washington, and meet our partners!

And don’t forget to follow us on social media!

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