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Justin
My head implode


Joined: 17 May 2006
Posts: 493
Location: Atlanta

Re: so who's next?
PostPosted: Tue Feb 05, 2008 3:03 am Reply with quoteBack to top

Looks like Gateway Homes might be another one we need to consider ...

http://www.ketv.com/money/15215417/detail.html

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Hackney71
C-4


Joined: 08 Nov 2007
Posts: 1260
Location: Nashville

Re: so who's next?
PostPosted: Wed Feb 20, 2008 3:39 pm Reply with quoteBack to top

Quote:
"Home Builder Lowers Prices, Neighbors Angry"
Neighbors in one Brentwood community are furious after their home builder lowered his prices on new homes by as much as $80,000.



Lowering the price of invetory has to hurt the bottom line...

This is CENTEX Homes, by the way...

http://wkrn.com/nashville/news.....136236.htm

Oh, they might be in trouble, too:

Quote:
after it reported a loss of nearly $1 billion in the fourth quarter

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builderdude33
Dud?


Joined: 04 Feb 2008
Posts: 3
Location: California

Those homeowners should just deal with reality
PostPosted: Wed Feb 20, 2008 6:10 pm Reply with quoteBack to top

Homeowners who whine about a builder lowering prices to sell homes should just shut up and deal with it. Those people wanting a refund of the difference from thier purchase price and the new selling price are just plain ignorant....

When times were good, the builders weren't asking for the difference in what the home value increase from the original selling price...

People are just desperate to blame the ...wake up people...next time don't buy a house you know you can't afford....

These are the times we are living ...Builders have employees and those employees have ...don't fault the builder for doing what it needs to do to stay in business and keep countless employees still working. Don't worry, this is a ...it will pass and home prices will increase ...but for now....

Enjoy the low prices, because now is the best time to buy a ...not an investment...a HOME.....

Thanks...

the builderdude....
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Hackney71
C-4


Joined: 08 Nov 2007
Posts: 1260
Location: Nashville

Re: so who's next?
PostPosted: Wed Feb 20, 2008 7:45 pm Reply with quoteBack to top

Builderdude...

I wasn't agreeing with them at all... I was posting the story, lol...

And, those people in that neighborhood can afford it... They just don't like that They could buy a new one for less today than they paid for theirs. (it is top 100 wealthiest zipcodes 37027)

They sell for what the market can get...

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ghpacific
Flash in the pan


Joined: 12 Dec 2007
Posts: 30

Re: so who's next?
PostPosted: Wed Feb 20, 2008 8:37 pm Reply with quoteBack to top

builderdude said:

When times were good, the builders weren't asking for the difference in what the home value increase from the original selling price...

I heard that during the price run-up, investors were plunking down deposits for condos in Vegas, trying to ride the appreciation bubble, but the builders would return the deposit right before completion and cancel the contract when they realized how much profit they were going to miss out on. And certain investment groups were advising their clients in pre-construction "investing" to be sure there was an assignment clause in their purchase contracts to prevent builders from copping out and taking all the future profits for themselves.

Of course, it didn't last and either the investor or the developer or both have ended up without a chair when the music stopped!

Not disagreeing with you, but it takes 2 to tango... Wink
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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: so who's next?
PostPosted: Fri Feb 22, 2008 11:12 pm Reply with quoteBack to top

Out of KB, Lennar and KHov, my money is on KHOV that they will be the next one to get concrete shoes and be tossed in the river.

If you listen to Ara's comments on MSNBC or in major publications he shows this unfounded bravado that the recoveryy is around the corner.

Tom Eggleston of CP Morgan is correct when he says it will take till 2010 for the market to see growth

KHOV stock is at $9.4 a share, up from under $6 dollars a couple of weeks ago. With that week of a stock price they will have trouble raising cash and growing credit lines.

Coupled with unseasoned local management teams that have not seen this before and do not know how to act.

Everyones looks smart when times are good, let's see some hero's now

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Aaron
A-Bomb


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

Re: so who's next?
PostPosted: Sat Feb 23, 2008 12:33 am Reply with quoteBack to top

Yeah, the bull***t meter really goes off the scale with HOV.

We plan to have an "ailing" profile for them up shortly.
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The Wizard
Cherry Bomb


Joined: 22 Feb 2008
Posts: 114

Re: so who's next?
PostPosted: Mon Mar 10, 2008 3:45 pm Reply with quoteBack to top

Keep your eyes on the news, major homebuilder news announcement due in the next 45 days regarding bankruptcy.

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Pooge
Flash in the pan


Joined: 28 Feb 2008
Posts: 90

Re: so who's next?
PostPosted: Tue Mar 11, 2008 3:25 pm Reply with quoteBack to top

The Wizard wrote:
Keep your eyes on the news, major homebuilder news announcement due in the next 45 days regarding bankruptcy.



So many choices, so little time. I think Kimball Hill is teetering over the brink right now. Am I warm?
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Aristotle
Nitroglycerin


Joined: 05 Dec 2007
Posts: 594
Location: On a sand dune, sipping a cold soda

D R Horton Is Not In Great Shape Either
PostPosted: Wed Mar 12, 2008 8:37 pm Reply with quoteBack to top

In today's Las Vegas Review Journal, D R Horton advertises that they have 350 homes as standing inventory "No reasonable offer refused".

Unfortunately, the homes are in places where new, foreclosed homes are selling for $100 per square foot or less...which is about half of D R Horton's asking price. So it will be interesting to see how they define "reasonable offer".

In addition, the homes D R Horton has for sale are surrounded by their own tract homes now in foreclosure.

Not a pretty picture, which is too bad because the standing inventory homes are nice homes...not plain vanilla boxes

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As Yogi Berra said "It's like deja vu all over again."
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