Thursday, November 09, 2006

Another Builder Reports Decreased Earnings

Hovnanian Enterprises, Inc of Red Bank, New Jersey chimed in with its fourth quarter report of a decrease in contracts of 36% from last year’s totals with cancellations representing 35% of the total.
”Our financial results for the fourth quarter continued to be negatively impacted by high cancellation rates and increased use of concessions and incentives, particularly on the resale of those homes which experienced contract cancellations," said Chief Executive Ara Hovnanian.

Read John Spence’s story


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Wednesday, November 08, 2006

Signed Contracts and Revenue Down

Tolls Brothers reported signed contracts down 55 percent and new home building revenue down ten percent compared to 2005, as the housing market continues to soften.
Nobody wants to buy something that they think will cost less two week later,” said Robert Toll, Chief Executive for Toll Brothers

Beazer Homes of Atlanta reported a 44 percent decline in profit. New orders for Beazer fell 58 percent.
Read Deborah Yao’s of the AP story.


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For more information on Real Estate in New Jersey visit here.

Monday, November 06, 2006

When Autumn Leaves Start to Fall

The falling leaves, drift by my window... If that was all they did it probably would be okay; but, gravity brings them to the ground where they make a slippery mess.
It is that time of year again gang. The trees are beyond their display of colors stage and are now dropping leaves all over lawns, cars, and garden furniture. Many homeowners are using these last mild days to rake the rubbish to the curb but a word of caution. Before you get in an afternoon of leaf throwing, blowing, or rolling, it might be in your best interest to check out the ordinances regarding yard debris for your town.
Some towns restrict not only the time when one can put leaves at the curb but also how close they may be to a storm drain. The ordinance will have some information on whether or not leaves may be bagged or otherwise contained and how soon one may put yard debris at the curb. Knowing the ordinance could keep you from having to pay a stiff fine or as in West Windsor from having to spend time in jail or do community service.
Read Joyce J. Persico's story


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