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NewHomeDallas
Dyn-o-mite!


Joined: 05 Jan 2009
Posts: 404

Re: Tucker Hill in Mckinney, TX
PostPosted: Wed Aug 19, 2009 4:02 pm Reply with quoteBack to top

Centex is gone. Depending on which article you read, either the name Centex and F & J will remain on some products or just F & J. The company is Pulte, not Centex and is based in Michigan not Dallas. Within months, all of Centex's previous management will be goone, or at least 95%. They might keep some in areas where they don't have a presence now.

I don't recall seeing any US Home communities lately. NVR did keep the Ryan name because Ryan is entry level and NVR is high end. There aren't any Ryan management personel at NVR now.

It might be semantics. If having the name Centex on a Putle community means they are still around; so be it. When Horton was on their buying spree, they kept the local names for a while but not the management.
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BillyA
Cherry Bomb


Joined: 12 Mar 2008
Posts: 117
Location: Dallas,TX

PULTEX
PostPosted: Wed Aug 19, 2009 7:05 pm Reply with quoteBack to top

So New Home are you implying there are going to be something like BWW?
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NewHomeDallas
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Re: Tucker Hill in Mckinney, TX
PostPosted: Wed Aug 19, 2009 8:10 pm Reply with quoteBack to top

I don't know since I don't know what BWW is.
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BillyA
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Joined: 12 Mar 2008
Posts: 117
Location: Dallas,TX

PULTEX
PostPosted: Wed Aug 19, 2009 8:15 pm Reply with quoteBack to top

Build it the WEEKLY WAY>
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NewHomeDallas
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Re: Tucker Hill in Mckinney, TX
PostPosted: Thu Aug 20, 2009 12:11 am Reply with quoteBack to top

BillyA:

Sorry, my only contact with Weekley came somewhere around 12 years ago. I was interviewing with a Weekley PM and his first statement was, "I don't know anything about sales." His first question was, "Do you have a new four door car?" At that point I just played games with him. My first questions are," What have you sold or what have you built?" One of the best new home sales people I ever had working for me didn't drive because of a medical condition.
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Houston Builder
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Joined: 09 Jan 2009
Posts: 351

Re: Tucker Hill in Mckinney, TX
PostPosted: Thu Aug 20, 2009 3:25 pm Reply with quoteBack to top

NewHomeDallas wrote:
Centex is gone. Depending on which article you read, either the name Centex and F & J will remain on some products or just F & J. The company is Pulte, not Centex and is based in Michigan not Dallas. Within months, all of Centex's previous management will be goone, or at least 95%. They might keep some in areas where they don't have a presence now.

I don't recall seeing any US Home communities lately. NVR did keep the Ryan name because Ryan is entry level and NVR is high end. There aren't any Ryan management personel at NVR now.

It might be semantics. If having the name Centex on a Putle community means they are still around; so be it. When Horton was on their buying spree, they kept the local names for a while but not the management.


This is very true - try looking up Centex stock quote - its a shame they ruined so many of their customer's property values by switching to cheap ugly houses.........

The only other builder left that does this tactic is KB - fortunately for you, according to HOBB it appears that the "I Phone inventors" are winding down their DFW operations
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NewHomeDallas
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Re: Tucker Hill in Mckinney, TX
PostPosted: Thu Aug 20, 2009 6:23 pm Reply with quoteBack to top

Hiuston Builder:

Let's not play the blame game. It's the economy that dictated every builder's actions. Most builders have reduced prices or cut standard features; does this lower property values? Is walking away from communities where builders built $180,000 houses that are sold to the F & Js of the world where $120,000 houses are now being built lowering values? Is going out of business because they built overpriced unsellable houses lowerring the value for the few people who bought when the bank sells the lots cheaply enough to make a profit on hosuses selling for 2/3 of when the community opened?

Look at the parralel industry of car building and selling. Was it the car builders who lowerred the value of the large SUVs, especially the Hummer, or $4.00 gas?

All builders, both public and private have one goal in mind. It's to weahter the storm until the market returns to where they can make a reasonable profit. They aren't sitting in board rooms saying, "How can we screw our buyers today?" Rightly or wrongly, not all builders will make it. Unfortunately, there will be causulties along the way including some former buyers.

Was it a friend on mines fault that while he was making a profit, although much smaller than three years ago, after spending millions on his new showroom, Chrysler put him out of business?
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Houston Builder
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Re: Tucker Hill in Mckinney, TX
PostPosted: Fri Aug 21, 2009 2:50 pm Reply with quoteBack to top

NewHomeDallas wrote:
Hiuston Builder:

Let's not play the blame game. It's the economy that dictated every builder's actions. Most builders have reduced prices or cut standard features; does this lower property values? Is walking away from communities where builders built $180,000 houses that are sold to the F & Js of the world where $120,000 houses are now being built lowering values? Is going out of business because they built overpriced unsellable houses lowerring the value for the few people who bought when the bank sells the lots cheaply enough to make a profit on hosuses selling for 2/3 of when the community opened?

Look at the parralel industry of car building and selling. Was it the car builders who lowerred the value of the large SUVs, especially the Hummer, or $4.00 gas?

All builders, both public and private have one goal in mind. It's to weahter the storm until the market returns to where they can make a reasonable profit. They aren't sitting in board rooms saying, "How can we screw our buyers today?" Rightly or wrongly, not all builders will make it. Unfortunately, there will be causulties along the way including some former buyers.

Was it a friend on mines fault that while he was making a profit, although much smaller than three years ago, after spending millions on his new showroom, Chrysler put him out of business?


Your points are well made, but what is interesting is that not all builders take this approach. Look at how realtors rank builders - KB is by far the biggest pig in the industry when it comes to realtor preferences - why is that?



Credit Suisse First Boston Survey Reveals Real Estate Agent Builder Preference


The July Credit Suisse First Boston Monthly Survey of Real Estate Agents was made available on Friday for institutional clients and consultants on the survey. Presented monthly, this 60-page (or thereabouts) publication has been an extremely accurate and predictive document - my first choice when I begin pondering my monthly real estate strategy.

Almost always, I focus on the top fifty metro markets and regions, primarily interested in the pure statistics and opinions of "boots on the ground" agents and investors that make this such an excellent read. Another feature of this monthly survey lists agents recommendations for national builders. The percentage number is based upon positive less negative responses from agents. This is an important reflection on these builders, and thus their stock, as over 40% of new home sales involve a real estate agent.

Here is the list, best to least favored:


Pulte Homes (PHM) 25.2%
Toll Brothers (TOL) 24.7%
D.R. Horton (DHI) 17.6%
Meritage Homes (MTH) 16.2%
Lennar Corporation (LEN) 14.3%
Centex Corporation (CTX) 11.7%
Ryland Group (RYL) 11.4%
Standard Pacific Corporation (SPF) 11.3%
Hovanian (HOV) 6.1%
MDC Holdings (MDC) 5.7%
NVR, Inc. (NVR) 4.3%
WCI Communities (WCI) 0.1%
KB Home (KBH) -12.9%
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NewHomeDallas
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Re: Tucker Hill in Mckinney, TX
PostPosted: Fri Aug 21, 2009 4:14 pm Reply with quoteBack to top

Houston:

As I replied before, I think this survey represents how much the Realtors are paid and when they are paid as opposed to quality.

I qusetion two points. One, I don't think realtor new home sales ever reached 40%. And the two best performing stocks this year are either at the bottom of the list or not on it; Beazer and Hovnanian.

NVR is one of the best run companies but doesn't show at the top. Historically, their Ryan division didn't pay any Realtor commissions.

As the commercial says, "Think with your dipstick." These Realtors are commenting on their commission and bonus checks.
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Nelson
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Joined: 07 Nov 2008
Posts: 351
Location: Texas

Re: Tucker Hill in Mckinney, TX
PostPosted: Fri Aug 21, 2009 9:22 pm Reply with quoteBack to top

In every industry there are businesses that are more customer oriented than others. There are also businesses that are focused on profit to the exclusion of almost everything else.

My opinion is that in the home building industry KB and Horton, and maybe Lennar to a lesser extent are willing to do whatever it takes to maximize profits or in today's market mitigate losses.

This manifests itself in their willingness to dump inventory at reduced prices, change product lines or specification levels, or take advantage of the opportunity to build much lower priced homes in neighborhoods where they can buy lots cheap or have written down their own lots. It also means they will layoff staff, abandon subdivisions or even whole markets faster than another builder might.

This willingness to take unplesant but decisive action probably means they will survive this downturn in some form or another.
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