Developers and Construction

KB Home Reports Wider Loss, and Shares Skid

Posted on Monday, July 04, 2011

KB Home reported a wider-than-expected quarterly loss as margins and homes prices fell and write-downs of land values rose. Shares of KB, which has operations in nine states, were down 15 percent, or $1.84, to $10.08 a share. This summer is the fifth anniversary of the housing slump, which follo...

Lennar Posts Fewer Orders for Homes

Posted on Monday, April 04, 2011

Lennar, one of the nation’s largest home builders, reported lower quarterly orders on Tuesday, signaling continued weakness in the housing market. Shares fell 3.4 percent as the company said the important spring selling season, which began in early February, was not shaping up into a recovery from...

Miami developer Renzo Renzi files for bankruptcy

Posted on Thursday, March 17, 2011

Renzo Renzi, a Miami developer who was hit hard by the collapse of the housing market, has filed for Chapter 7 bankruptcy. According to a petition filed Thursday in U.S. Bankruptcy Court, Renzi has less than $50,000 in assets and between $10 million to $50 million in debt. In the filing, Renzi ...

Homebuilders have grim view of housing market

Posted on Thursday, February 17, 2011

Homebuilders are not seeing a turnaround in the housing market after the worst year for new-home sales in a half-century. The National Association of Home Builders says its index of builder sentiment for February remained unchanged for the fourth straight month at 16. Any reading below 50 indicat...

KB Home to lure buyers with energy bill savings

Posted on Thursday, February 17, 2011

Homebuilders say one of the biggest advantages of buying a newly built home is energy efficiency. However, some of the ways that builders make homes burn less cash might not be as recognizable to buyers as say, kitchen appliances, generous closets and bathroom amenities. So now some builders are b...

Homebuilders undermined by cost of construction boom's flaws

Posted on Wednesday, February 16, 2011

Seattle city planner Alan Justad is reviewing a project that will bring back the cranes, dust and noise absent since the real estate bust. This one will subtract from the skyline rather than add to it. The owners of McGuire Apartments opted to tear the 10-year- old tower down after discovering c...

Top homebuilder CEO: Worst is over for U.S. housing

Posted on Wednesday, February 16, 2011

The worst is over for the U.S. housing market and a rebound will gain momentum in 2012, according to Douglas Yearley, chief executive officer of Toll Brothers Inc. "The recovery is here to stay," Yearley, whose company is the largest U.S. luxury-home builder, said in an interview yesterday at ...

Investing in Homebuilders

Posted on Wednesday, February 16, 2011

Investors looking to invest in the homebuilder group will usually go with the SPDR S&P Homebuilder ETF (XHB). Interestingly, as shown below, XHB has significantly outperformed the S&P 1500 Homebuilder index over the last six months. The XHB ETF is up 16.73%, while the S&P 1500 Homebuilder index is...

Board of Contributors: Phantom units are a hidden problem in distressed condominiums

Posted on Thursday, January 27, 2011

A byproduct of the recent real estate boom and bust is an outbreak of phantom condominium units, once a rare phenomenon. Investors or lenders considering an investment in a distressed condominium project with phantom units need to be attuned to potential problems. Phantom units are possible because...

Board of Contributors: Developers may be on hook for additional construction liability

Posted on Tuesday, January 04, 2011

For centuries, builders and sellers of residential homes, whom we will collectively call "developers," were protected from construction liability by the Latin legal doctrine known as caveat emptor — "let the buyer beware." This ancient doctrine imposed on a buyer the responsibility to discover a...

Community Associations Hit Hard by Housing, Economic Slump

Posted on Friday, November 19, 2010

More than half of the estimated 310,000 homeowner and condominium associations in the United States are struggling with financial issues stemming from the nation’s mortgage foreclosure crisis and related economic downturn, according to the Community Associations Institute (CAI). The organization re...

Lennar shifts strategies to keep income flowing

Posted on Wednesday, November 17, 2010

Since the collapse of the housing market most home-builders have had to implement survival strategies, but none has been more aggressive and successful than Lennar. Judging by recent deals and Lennar's plans to raise large amounts of capital for its investment unit, the company is focusing on dist...

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