FAQ  |  Search  |  Memberlist  |  Usergroups   |  Register  |  Profile  |  Log in to check your private messages  |  Log in 

 Lennar, KB now fee building...... View next topic
View previous topic



Post new topicReply to topic
Author Message
littledude
Flash in the pan


Joined: 06 Feb 2009
Posts: 45

Re: Lennar, KB now fee building......
PostPosted: Sun Oct 25, 2009 7:21 pm Reply with quoteBack to top

I never,never believe that on this blog somebody agree with me.
mikestronk , you are right D.R.Horton is the worse of the worse, but one
day (hope soon) they WILL PAY, they been, and still ruin ALL the homeowners that buy their products.
View user's profileSend private message
justin49x
Dud?


Joined: 20 Mar 2009
Posts: 8
Location: Irvine, CA

Re: Lennar, KB now fee building......
PostPosted: Fri Nov 13, 2009 12:33 am Reply with quoteBack to top

Lennar's not part of these 6 projects at Woodbury. Brookfield picked up 2, along with Tri Pointe, Van Daele, The New Home Co., and KB.

_________________
Justin
View user's profileSend private message
justin49x
Dud?


Joined: 20 Mar 2009
Posts: 8
Location: Irvine, CA

Re: Lennar, KB now fee building......
PostPosted: Thu Nov 19, 2009 11:33 pm Reply with quoteBack to top

Cal Pac's going to build some units there too. I'm surprised it took this long for Donald Bren's son to get involved.

_________________
Justin
View user's profileSend private message
Houston Builder
Dyn-o-mite!


Joined: 09 Jan 2009
Posts: 351

Lennar - KB now build for practice w tax rebates.....
PostPosted: Wed Jan 20, 2010 4:20 am Reply with quoteBack to top

I am the only one disgusted with KB's and Lennar's earning calls??

- these zombie/builders have apparently given up hope of being profitable anytime soon. They are happy building homes at a loss b/c they get so much in tax claw backs from Uncle Sam

- imagine trying to compete with these publics who don't need to make any profit (and apparently indicate that they can't make any operating profit this quarter or this year).

On KB's "earnings" call, Mezger brags about one whole new land deal in of all places......................drum.............roll..........................Houston!!!!!

OMG - so they bought ONE new land DEAL in Houston and they are going "full peacock" about it!!!!!!!!!!!!!!!

Interestingly they blab all day about their "open series" but there is no mention of KB's Martha Stewart program - I guess their $10MM community in Katy that's been laughed at here for 3+ years was a mirage and doesn't really exist?

I like my I phone, why doesn't KB compare their Martha Stewart partnership with I phones any more??? They don't mention Martha Stewart at all on their analyst call -- since that strategy was such a disaster, why should anyone believe that their "open series" strategy will not have the same fate.

The "open series" are nothing but bare boned cheap houses that have no frills in them. I guess they and Lennar would prefer to compete with bombed out foreclosures instead of building new homes in good school districts....

I know realtors who won't even show them.

Wow, more houses from the $70Ks - just what Houston needs!!!!!

My sources tell me that Horton and Meritage have done over 45 new land deals in Texas in the last 9 months.....that's how you get back to profitability - buy good lots at distressed prices...........
View user's profileSend private message
TX Homebuilder
Dyn-o-mite!


Joined: 09 Feb 2009
Posts: 276
Location: Houston Metro

Good Advice
PostPosted: Wed Jan 20, 2010 4:50 pm Reply with quoteBack to top

Houston ...welcome to Houston home building. For decades we've seen companies come into Houston without the intent of being immediately profitable. I could name names ... but, I won't. If you're a Houston production builder you know the names. They come in with the intent of capturing market share and establishing a name. They hope they will be profitable in 3-5 years. And that was during the good times. If you think you can start a profitable production home building company during these times you better be buying your lots for next to nothing or getting your lots subordinated.

I have no problem with anyone building $ 70K homes. If they can make a profit they can have the market. I'm only building on lots already owned and subordinated by the lender.

Good Luck in 2010.
View user's profileSend private message
BigDuke6
Flash in the pan


Joined: 28 Mar 2009
Posts: 40

Re: Lennar, KB now fee building......
PostPosted: Thu Jan 21, 2010 3:01 am Reply with quoteBack to top

KB bought quite a few new deal in Northern California last year from what I hear. Meritage and Stan Pac were also pretty active in the Sacramento area.
View user's profileSend private message
Houston Builder
Dyn-o-mite!


Joined: 09 Jan 2009
Posts: 351

Re: Lennar, KB now fee building......
PostPosted: Fri Jan 22, 2010 5:26 am Reply with quoteBack to top

BigDuke6 wrote:
KB bought quite a few new deal in Northern California last year from what I hear. Meritage and Stan Pac were also pretty active in the Sacramento area.


I have now talked to some sources:

Lennar - shriveling up, everyone there is miserable, they won't pull the trigger. Their Friendswood team has basically given up and they are just taking a pay check

DFW - same story, much smaller scale

Aus/SA -no movement at all

KB - no new TX deals outside of Houston - their one Houston deal were cheap lots in a bad submarket, no developers will ever let them in Katy, Sugarland or Woodlands -

in Dallas they actually rename their mothball communities and tell their employees and realtors that its a "new" community

Austin - they royally screwed up "new" deals in Kyle and Roundrock, so no more new deals for them.

San Antonio - dead man walking....
View user's profileSend private message
houston
Nitroglycerin


Joined: 02 Dec 2008
Posts: 661
Location: Houston, Texas

Re: Lennar, KB now fee building......
PostPosted: Sat Jan 23, 2010 11:05 pm Reply with quoteBack to top

That's hard to believe about San Antonio. When the three Jacks ran the former company, Rayco, they owned that market.

_________________
Thanks
View user's profileSend private messageYahoo Messenger
TX Homebuilder
Dyn-o-mite!


Joined: 09 Feb 2009
Posts: 276
Location: Houston Metro

Ray Ellison
PostPosted: Sun Jan 24, 2010 2:20 am Reply with quoteBack to top

And when Ray Ellison owned the company...prior to the three Jacks...he had an unheard of 60% of the S.A. market. The closest anyone came to him was Gemcraft in the mid '80s. I am not aware of any home builder dominating anywhere near 60% of any big market.
View user's profileSend private message
NewHomeDallas
Dyn-o-mite!


Joined: 05 Jan 2009
Posts: 404

Re: Lennar, KB now fee building......
PostPosted: Sun Jan 24, 2010 8:09 pm Reply with quoteBack to top

Ryan Homes had 85% of the Pittsburgh market. They were usually #3 behind U S Homes and Centex. They were bought by NVR. They now probably have 75% of the Pittsburgh market.

Although the Pittsburgh market was never in the top 20 and has been declinging, being the number 3 builder in the country building in one market is impressive.

Ryan was a big box entry level builder. It was their way or no way. Ed Ryan was the first to use pre-engineered construction. And their finance man, Jim McDonough was the best in the history of the business.

Ed also spawned some other builders within the family. It also was the training ground for builders in the Northeast like Putle in the Midwest.
View user's profileSend private message
Display posts from previous:      
Post new topicReply to topic


 Jump to:   


Merge topics 

View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB 2.0.22-2 (Debian) © 2001, 2002 phpBB Group :: FI Theme :: All times are GMT