About the Author

author photo

Residential Re-Sale, Commercial Properties, Foreclosures and Investments…As a long-time Fullerton resident Adam is intimately familiar with North Orange County neighborhoods. He has extensive expertise in residential real estate, commercial build outs, hard money lending and mortgage banking. As an authorized REO agent for GMAC, CountryWide Home Loans and World Savings he has extensive experience in all aspects of the foreclosure process. Investors rely on his knowledge and experience to help them identify and capitalize on distressed properties.

See All Posts by This Author

Local Homebuilder Has Productive Quarter

November 9th, 2009 • Related • Filed Under

For the first time in three years local homebuilder Standard Pacific Homes came out of the red. They reported achart net loss of $23.8 million during the third quarter which was 94% smaller than the year before – although slightly bigger than the previous quarter.

Standard Pacific Homes revenues fell 18% in the July-September quarter due to a combination of a 9% drop in the company’s average sale price and fewer homes for the company to sell. Last quarter the average Standard Pacific Home sold for $302,000 compared to $332,000 the year before.

From a development standpoint sales were up from last year. The company averaged 2.2 home sales a month per development compared to 1.7 per development in 2008. Standard Pacific Homes was also able to able to pay down $348 million in short-term debt through a combination or stocks swaps and issuance of longer term notes.

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google
  • Blogosphere News
  • Reddit
  • StumbleUpon
  • Technorati

Post a Response