Last month, I attended NAHB’s midyear meeting in Miami and had the pleasure of sitting in on a presentation by Daniel Swift, president and CEO of Des Moines-based architecture group BSB Design.
Lafferty Communities, The Hoffman Company, purchase, Faria Preserve, California
The Hoffman Company—one of California’s most established land brokerage firms—announced today that it has closed the sale of the Faria Preserve property to Lafferty Communities, a private, family-owned developer, in one of the largest land transactions in the East Bay area in several years.
Forestar Land Partners, Corona, California, Calif., Sierra Bella, purchase
Forestar Land Partners, a venture between the owners of Foremost Communities and an affiliate of Starwood Capital Group Global, LP, announced it has acquired a 300-acre parcel of entitled land at the western edge of Corona at a public auction.
Lately, the talk from builders that I’ve connected with has been about the suddenly dwindling supply of available prime real estate in their markets, especially entitled land and finished lots in good locations. I’m also hearing stories of bidding wars leading to a run-up in lot and land prices in certain submarkets and communities. The fascinating thing is that these land battles and lot shortages are even occurring in some of the nation’s most overbuilt markets.
residential construction, housing market, new homes sales
Irvine, Calif., officials last week granted final approval for the development of up to 5,000 homes on the old El Toro Marine Corps base. The development has a 10-year timeline and includes more than 500 affordable-housing units.
Taylor Morrison President and CEO Sheryl Palmer discusses the firm's acquisition, growth opportunities, road to profitability,
Professional Builder recently sat down with Taylor Morrison President and CEO Sheryl Palmer to discuss the firm's acquisition, growth opportunities, road to profitability, and land strategy. Here's a recap of the conversation.
Pella, Iowa and Southlake, Texas among top U.S. cities to ‘live and learn’
GreatSchools and Forbes have released their annual Top Cities to Live and Learn report, which ranks U.S. cities with the top-performing public schools in every housing price range. Among the 67 cities to make the 2011 list are: Pella, Iowa; Southlake, Texas; St. Johns, Fla.; Mercer Island, Wash.; and Manhattan Beach, Calif.
Builders profit from distressed land acquisitions
While many home builders are minimizing exposure to land assets, opportunistic companies like Charter Homes, Signature Homes, and Toll Brothers view distressed land acquisition as a solution for both short-term survival and future success.
Professional Builder survey: Most builders believe it's a great time to buy land
Recognizing the abundance of land deals available, the fact that banks are loosening their grip on distressed properties, and forecasts that show the housing market is finally on the road to recovery, most home builders believe now is a great time to be in the market for land, according to a January 2011 survey of Professional Builder readers. More than 55 percent of survey respondents agreed with the sentiment that now is an ideal time to purchase land for housing development, while less than a quarter disagreed with the statement.
8 essentials to re-starting a failed communities
If you think improved pricing is all you need to successfully restart a failed community, think again. Learn what the best professionals are doing to ensure success when entering a community that was abandoned by the previous builder.
KB Homes, Toll Bros. among builders that may be on hook for desert land
Some of the country’s largest home builders might have to buy hundreds of acres of desert near a failed development at boom-era prices. The legal battle between builders such as KB Home and Toll Brothers and a group of banks led by J.P. Morgan Chase stems from Inspirada, a failed development near Las Vegas.