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Old 07-06-2007, 11:30 PM
Location: Plano, TX
2,332 posts, read 4,824,145 times
Reputation: 2198


My neighborhood is a small development in Plano split between two builders. K.Hovnanian took half of it over when they bought out Goodman Homes a couple three years back. The other builder (Toll Brothers) is done selling and has less than a dozen homes to finish. K.Hov. is flooded with spec homes and unsold lots. The final product is fine, but the wait is ridiculous. Maybe it's just that they can't deal with Goodman-level homes, but I wouldn't buy anything from them that wasn't 100% complete.
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Old 07-07-2007, 04:54 AM
3,002 posts, read 11,747,726 times
Reputation: 846
Big G, are you referring to Preston Lakes at Preston/Tulane ?

Any idea what kind of deals Khov is offering to unload some of the spec inventory there ?
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Old 07-09-2007, 01:18 PM
Location: Plano, TX
2,332 posts, read 4,824,145 times
Reputation: 2198
Default Re:

I don't know that they are offering much of anything. They seem to have a real lack of urgency on the whole development. Their houses have been priced at $800K and up from the start, which is $100K-$150K more than Toll Brothers was getting for similar layouts and lot sizes. They dump a ton of upgrades into every spec home, then park it on the MLS until someone bites. It almost seems as if they are hoping for price inflation to set in and make their spec homes and lots more valuable.
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