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TOUSA, Inc. Message Board

  • needmoney97 needmoney97 Jun 23, 2007 9:58 PM Flag

    TOA - What will 2007 bring?

    2005 - Builder Online (.com)

    12 Technical Olympic USA

    Made headlines with acquisition of Transeastern Properties, No. 37 on last year�s BUILDER 100 ... posted net earnings of $218.3 million, an 83 percent jump over 2004 ... 2006 goals include increasing closings by more than 50 percent and net income by more than 30 percent.

    2006 - Builder Online (.com)

    13 Technical Olympic USA

    WAY OFF goal of 50% closings increase but did post 2% more in 2006 � 79% of closings were single-family, 21% were townhomes � lowered costs of building supplies through deals with suppliers � 2007 goals include rebalancing land initiatives and preserving company in bad market.

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    • The Herald Tribune reports from Florida. �Foreclosures are putting a damper on an already sluggish housing market in Southwest Florida. The number of foreclosures in the region spiked during May, and Manatee County was fifth among all Florida counties in terms of per-capita foreclosures. �We all knew it was coming,� said Steve Jonsson, president of Bradenton�s Flagship National Bank. �I�m not sure the housing market can get much worse, quite frankly.��

      ��They aren�t doing 95 percent loans like a couple years back,� he said. Several other lenders, including some of the area�s largest like SunTrust and Washington Mutual, declined to be interviewed about foreclosures, saying it has negative connotations.�

      �In Southwest Florida, the foreclosure hot spots remain in North Port and north of the Manatee River, two areas with large swaths of homes and condominiums that attracted investors during the recent housing boom. Another substantial concentration was in Port Charlotte.�

      �The number of foreclosure actions filed in Manatee County during May rose 164 percent from April. In Sarasota County, foreclosures rose 104 percent, putting it 10th in the the state. Charlotte County foreclosures rose 74 percent, placing it 16th.�

      �Three other west coast counties, Lee, Hillsborough and Pinellas, were in the top 20 statewide last month.�

      ��It�s not that people are being kicked to the curb and losing their homes,� said Mark Vitner, senior economist with Wachovia Corp. �It�s more similar to the folks who were day trading in dot-com stocks and were losing their money.��

 

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