Housing Giants - June 23, 2008 - (Page 25) Grim times leave home builders facing a big question: Is it time to buy or sell land? builders in the same situation, that leaves a lot of land for sale with relatively few potential buyers. Those who do find interested buyers may have to sell at a considerable discount. Some large builders have done just that this year. In March, for example, Centex sold 8,500 lots in 11 states to a joint venture led by Dallas-based RSF partners for $161 million. The book value, according to Centex, was $528 million at the time of the sale, but analysts said that was already after significant write downs, and that the land was worth $900 million originally. Based on a $900 million valuation, the properties sold for just 18 cents on the dollar, analysts said. Why would Centex unload these lots for so little? A big incentive to do so is for www.Housinggiants.com a By Peter Fabris, Contributing Editor 6.23.08.Housing giants 25 http://www.centex.com/ http://www.housinggiants.com
Table of Contents Feed for the Digital Edition of Housing Giants - June 23, 2008 Housing Giants - June 23, 2008 Contents Viewpoint News and Moves Sell Workforce The Land Dilemma Housing Giants - June 23, 2008 Housing Giants - June 23, 2008 - Housing Giants - June 23, 2008 (Page 1) Housing Giants - June 23, 2008 - Housing Giants - June 23, 2008 (Page 2) Housing Giants - June 23, 2008 - Housing Giants - June 23, 2008 (Page 3) Housing Giants - June 23, 2008 - Housing Giants - June 23, 2008 (Page 4) Housing Giants - June 23, 2008 - Contents (Page 5) Housing Giants - June 23, 2008 - Contents (Page 6) Housing Giants - June 23, 2008 - Viewpoint (Page 7) Housing Giants - June 23, 2008 - Viewpoint (Page 8) Housing Giants - June 23, 2008 - Viewpoint (Page 9) Housing Giants - June 23, 2008 - News and Moves (Page 10) Housing Giants - June 23, 2008 - News and Moves (Page 11) Housing Giants - June 23, 2008 - News and Moves (Page 12) Housing Giants - June 23, 2008 - News and Moves (Page 13) Housing Giants - June 23, 2008 - Sell (Page 14) Housing Giants - June 23, 2008 - Sell (Page 15) Housing Giants - June 23, 2008 - Sell (Page 16) Housing Giants - June 23, 2008 - Sell (Page 17) Housing Giants - June 23, 2008 - Sell (Page 18) Housing Giants - June 23, 2008 - Sell (Page 19) Housing Giants - June 23, 2008 - Workforce (Page 20) Housing Giants - June 23, 2008 - Workforce (Page 21) Housing Giants - June 23, 2008 - Workforce (Page 22) Housing Giants - June 23, 2008 - Workforce (Page 23) Housing Giants - June 23, 2008 - The Land Dilemma (Page 24) Housing Giants - June 23, 2008 - The Land Dilemma (Page 25) Housing Giants - June 23, 2008 - The Land Dilemma (Page 26) Housing Giants - June 23, 2008 - The Land Dilemma (Page 27) Housing Giants - June 23, 2008 - The Land Dilemma (Page 28) Housing Giants - June 23, 2008 - The Land Dilemma (Page 29) Housing Giants - June 23, 2008 - The Land Dilemma (Page 30) Housing Giants - June 23, 2008 - The Land Dilemma (Page 31) Housing Giants - June 23, 2008 - The Land Dilemma (Page 32) Housing Giants - June 23, 2008 - The Land Dilemma (Page 33)
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