Cranbury Forum | Bulletin | Info Sharing
[Click here to bookmark this page: http://cranbury.info]
▪
Cranbury School
▪
Cranbury Township
▪
Cranbury Library
▪
Cranbury.org
▪
Cranburyhistory.org
(Press Ctrl and = keys to increase font size)
Search
Register (optional)
Log in to check your private messages
Log in
[http://cranbury.info]
->
Home Sweet Home
Post a reply
Username
Subject
Message body
Emoticons
Font colour:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Indigo
Violet
White
Black
Font size:
Tiny
Small
Normal
Large
Huge
Close Tags
Options
HTML is
ON
BBCode
is
ON
Smilies are
ON
Disable HTML in this post
Disable BBCode in this post
Disable Smilies in this post
All times are GMT - 4 Hours
Jump to:
Select a forum
Topics
----------------
News | Events
School | Parenting
Blogs by Cranbury Residents
Shopping | Good Deals | Price Talk
Home Sweet Home
House For Sale
Home Sales Pricing Records
Financial | Stocks | Mutual Funds
Cool Bytes & Bits
Garage Sale | ForSale Ads | Things to Trade
Tech Related (PC, Internet, HDTV, etc.)
Interesing and Fun Stuff to Share
What's Your Favorite?
Interests | Hobbies
Cranbury History
Radom Thoughts | Sports | Kitchen Sink
Amazon Deals
Local Business Info
----------------
Local Business Ads (FREE)
Support
----------------
Daily Sponsored Message & Amazon Ads
About Us | Your Privacy | Suggestion | Sponsored
Test Area (Practice your posting skills here)
Topic review
<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Oct 5 2007, 11:10 pm EDT<span class="gen"> </span> Post subject: Re: Homebuilders Liquidate Assets in Desperation Sales</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>FL wrote:</b></span></td> </tr> <tr> <td class="quote">you can hear and read tons of such kind of news every day from wsj, cnn money, bloomberg and other financial media or main street media. but i am curious if anybody in this area have actually benefitted from such desperation sales. on the other side of Rt-130, the builder fo Stratford development even raised price this year.</td> </tr></table><span class="postbody"> <br /> <br />In a nutshell, it's the supply and demand thing. It's an easy concept: if the demand is low, sellers can increase the demand by reducing the price. <br /> <br />It seems the demand for the homes in the Stratford development is high. There must be a reason for this. Any ideas why this is so?</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>FL</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Oct 5 2007, 10:59 pm EDT<span class="gen"> </span> Post subject: Re: Homebuilders Liquidate Assets in Desperation Sales</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">you can hear and read tons of such kind of news every day from wsj, cnn money, bloomberg and other financial media or main street media. but i am curious if anybody in this area have actually benefitted from such desperation sales. on the other side of Rt-130, the builder fo Stratford development even raised price this year.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Bloomberg</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Oct 5 2007, 3:04 pm EDT<span class="gen"> </span> Post subject: Homebuilders Liquidate Assets in Desperation Sales</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Homebuilders Liquidate Assets in Desperation Sales (Update1) <br /> <br />By Bob Ivry <br /> <br /> Oct. 5 (Bloomberg) -- When D.R. Horton Inc., the second- biggest U.S. homebuilder, couldn't sell the one-bedroom condominium in San Diego it listed for $349,800, the property was auctioned as a last resort for 37 percent less. <br /> <br />D.R. Horton, with annual revenue of about $11 billion, and Hovnanian Enterprises Inc. now face the worst choice in the worst residential real estate slump since the 1930s. They're selling homes at any price they can get. <br /> <br />``It's desperation time and some companies may not make it,'' said Alex Barron, an industry analyst at Agency Trading Group Inc. in Wayzata, Minnesota. ``At this point in the housing cycle, if you have too much debt, it's hard to get out from under it.'' <br /> <br />Homebuilder profits depend on the cost of land, said John Burns, president of John Burns Real Estate Consulting in Irvine, California. Companies can still make money building on land purchased before the 2005 peak of the five-year U.S. housing boom, though price declines of as little as 10 percent might wipe out those profits, he said. <br /> <br />``They are all losing money,'' Burns said. ``They'll talk in terms of gross margin and it sounds like they made money, but they actually lost money because they didn't make their costs.'' <br /> <br />`Really Stinks' <br /> <br />The average cost to build a 3,340-square-foot home in the U.S. is $403,925, according to the National Association of Home Builders in Washington. That includes $219,015 for construction costs, $45,507 for the price of undeveloped land, $65,969 to prepare the land for building, marketing expenses of $11,258 and a sales commission of $19,499. <br /> <br />During Hovnanian's ``Deal of the Century'' promotion last month, the company sold a 2,900-square foot five-bedroom, three- bathroom house at the Greenwood Manor development in Royal Palm Beach, Florida, for $525,000, said Kathy Bell, who bought a house with the same floor plan down the street for $575,000 in March 2006. <br /> <br />``It really stinks,'' said Bell, 50, a medical billing specialist. ``We were here in the beginning and we didn't get any deals. It's very upsetting.'' <br />... <br /><a href="http://www.bloomberg.com/apps/news?pid=20601103&sid=adFsGVxspArw&refer=news" target="_blank">http://www.bloomberg.com/apps/news?pid=20601103&sid=adFsGVxspArw&refer=news</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
Search
Register (optional)
Log in to check your private messages
Log in
Search
Register (optional)
Log in to check your private messages
Log in