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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

so who's next?
PostPosted: Tue Jan 29, 2008 9:44 pm Reply with quoteBack to top

TOUSA has got to be the next to go over. But who after that?

KB? Hov? Lennar? Investors seem to think Lennar is back in business here, I guess because it didn't lose as much as it could have!
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billddrummer
Nitroglycerin


Joined: 06 Aug 2007
Posts: 792
Location: Reno, NV

Re: so who's next?
PostPosted: Tue Jan 29, 2008 9:52 pm Reply with quoteBack to top

Aaron wrote:
TOUSA has got to be the next to go over. But who after that?

KB? Hov? Lennar? Investors seem to think Lennar is back in business here, I guess because it didn't lose as much as it could have!


I think it all depends on three things:

    Where their land exposure is (high cost states like FL, AZ, CA, NV, NY, MA)
    How much debt their balance sheet carries
    How much cash their balance sheet has


If land isn't selling, and homes aren't either, the companies have to sit on their inventories and pay carrying costs out of their reserves. Those firms with slim reserves and high costs will fail. In some cases, lenders are asking builders to come up with additional collateral to cover falling values on land under development. If the builder doesn't have sufficient reserves, the lender forecloses.

Just my two cents. I haven't done any in-depth research on home builders.

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icenvegas
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Joined: 22 Nov 2007
Posts: 3896
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Re: so who's next?
PostPosted: Tue Jan 29, 2008 10:29 pm Reply with quoteBack to top

BEAZER is gonna go down like the titanic...

I dont know that to be true, but I just wanted to post here Very Happy

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Justin
My head implode


Joined: 17 May 2006
Posts: 493
Location: Atlanta

Re: so who's next?
PostPosted: Tue Jan 29, 2008 10:40 pm Reply with quoteBack to top

icenvegas wrote:
BEAZER is gonna go down like the titanic...

I dont know that to be true, but I just wanted to post here Very Happy


That very may well be. Time will tell won't it?

P.S. You know there's no prize for posting the most, right?

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SlickJulie
Flash in the pan


Joined: 01 Feb 2008
Posts: 59

Re: so who's next?
PostPosted: Fri Feb 01, 2008 12:16 am Reply with quoteBack to top

According to this ...Standard Pacific (SPF) has a high probability....
http://www.ft.com/cms/s/0/f7ff.....07658.html

The article also stated this....
"At least 13 other homebuilders have gone bankrupt since June, according to Bloomberg data."....Any idea what the other names are besides the 4 listed on this website?....

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SlickJulie
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Joined: 01 Feb 2008
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Panitz Signature Homes
PostPosted: Fri Feb 01, 2008 8:50 pm Reply with quoteBack to top

Not sure if this site has a $ criteria but Panitz Signature Homes filed Chapter 7 late December ...FYI....

http://www.builderonline.com/i.....eID=632666

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AtlantaPOV
Dud?


Joined: 01 Feb 2008
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Beazer cutting back on home building
PostPosted: Fri Feb 01, 2008 11:32 pm Reply with quoteBack to top

This out today...

Daily Real Estate News | February 1, 2008
Beazer Cuts Back on Home Building
Beazer Homes USA Inc., one of the nation’s largest home builders and one that has been hard hit by the housing slowdown, announced Friday that it will shut down operations in several major markets.

Beazer will stop building in Charlotte, N.C.; Cincinnati, Ohio; Dayton, Ohio; Columbia, S.C.; and Lexington, Ky. The company will finish any homes under construction and continue to service the communities it has built. Operations in these areas represent only 5 percent of the company’s home building business.

Beazer will be recommending Countrywide Financial Corp. to its customers as part of a new marketing deal with the mortgage company, which is being acquired by Bank of America.

Beazer has been under investigation by the U.S. Attorney’s office in connection with violations of federal lending rules.

Source: The Associated Press (02/01/0Cool
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Justin
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Joined: 17 May 2006
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Location: Atlanta

Re: Panitz Signature Homes
PostPosted: Mon Feb 04, 2008 3:22 pm Reply with quoteBack to top

SlickJulie wrote:
Not sure if this site has a $ criteria but Panitz Signature Homes filed Chapter 7 late December ...FYI....

http://www.builderonline.com/i.....eID=632666


Thanks for the heads up! Got them on the list now. I think we're still missing about four or five, so if you hear of any others, you know what to do Smile

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SlickJulie
Flash in the pan


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Re: so who's next?
PostPosted: Mon Feb 04, 2008 4:44 pm Reply with quoteBack to top

Hi Justin....

I took a look in BizJournals....FYI....

Turner & Associates LLC....
http://www.bizjournals.com/was.....ory11.html

Nouveau Homes Inc....
http://www.bizjournals.com/sac.....ory15.html

British American Homes....
http://www.bizjournals.com/orl.....ory11.html

Prime Development Inc....
http://www.bizjournals.com/stl.....ory14.html

Matthews Brothers....
http://www.bizjournals.com/mem.....rial1.html

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Justin
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Joined: 17 May 2006
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Re: so who's next?
PostPosted: Mon Feb 04, 2008 6:16 pm Reply with quoteBack to top

Fantastic! Ok now to do some write-ups ...

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