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It seems like all of the oil service companies have been increasing revenues. Companies such as WFT and SSOF have been growing revenues the past six months or more. But then DPDW has been struggling to grow and maintain revenues for quite a while now. Hopefully DPDW can start growing again as soon as possible even if that means an acquisition or two.
This might be a good time for longs to offset.
DB is trading at a steep discount (considering book value). If you compare DB with SSOF or NBRI there is quite a contrast. SSOF and NBRI both set new 52-week highs this week whereas DB hit a 52-week low. Would it not be wise to buy SSOF and NBRI since they are going up and wait for DB to start trending up before adding DB shares? Once DB starts a clear trend to the north, that would be the time to add...agree?
Hello Clay, good to hear from you. I enjoyed watching the video and agree with the analysis 100%. WFT is at 3.27 now but I heard it's going to 4. What do you and everyone else think? Private message ok.
By the way, did you do a chart on SSOF or NBRI recently? If not, let's step it up. Both SSOF and NBRI printed 52-week highs this week and they have been setting new highs repeatedly. I would also be interested in your thoughts on PLSB. Aloha brother
This might be a good time to buy shares of HAL and similar stocks. Even with the big move in oil, HAL and others are not expensive. It wasn't long ago when energy stocks were the largest stock market component. This was the case for many years. Now look at the diminished value, it is compelling. HAL and SSOF look good to me.
Jim Cramer was asked about WFT on Mad Money last Friday. He said it was too risky but I think WFT is looking pretty good long term.
Besides WFT, everyone should take a look at SSOF and also NBRI. Both SSOF and NBRI are on the move.
WFT- Trade it or fade it? I say trade it. Now that oil is trading at 3 year highs and better, WFT is coiled. Look at SSOF hitting a new 52 week high yesterday. Oil is poised to hit 85 according to analysts. If HAL were to acquire WFT and SSOF it would not surprise me in the least.
HAL and SSOF both looking strong. SSOF set a new 52 week high yesterday. Some of the analysts on Cnbc have been talking up HAL lately.
Caution is needed here. I sold all my shares of RXMD up around 22 and glad I did. I might re-enter if share price hits 4 or so, but will re-evaluate periodically just in case. Good luck to you and everyone holding long!
I'm loading up. Got a tip on this stock from a very reliable source!
Stock is going up, up with strong movements even on down market days. The company could be in the right place at the right time much like MSPC. Expert said on the radio a couple of days ago that Emerging Market International Real Estate is the best investment for 2018 and 2019 which could help MSPC since they have at least one development in South America.
SunTrust is very bullish per your post. That's a good sign for WFT but I am still staying out of the oil patch per Cramer lol. I like MSPC, I am trying to buy more on the dip if I can.
It sounds like you have been reading too much news. KBH and all of the home builders are going up. Ticker tells the tale. True, KBH might not be the pick of the litter but they are making great strides and finding success in a booming industry.
Why would high prices hurt home builders? I suppose one might speculate that higher prices would lower demand but it's a stretch! It's like saying high potato prices will hurt potato farmers because nobody will buy potatoes anymore. Doesn't it make more sense to think that high potato prices will benefit the farmers/producers, especially those with a direct to market pipeline? I like to invest in hot industries and I think real estate is starting to heat up, especially land and homes. With land and home prices going up as you say, why wouldn't the holders of land and houses have share price increases? A lot of news reports are citing high prices but see this report and good luck with your other long position:
Updated March 1, 2018 - 7:54 pm
Nevada home prices fell hardest in the country after the economy tanked and have bounced back the most, but they remain furthest from peak prices, a new report shows.
Compared to all other states and Washington, D.C., Nevada home prices had the steepest plunge from “peak to trough” (60 percent) and have rebounded the most since hitting bottom (93 percent), according to housing tracker CoreLogic.
Despite the gains, Nevada prices remain furthest below pre-recession peaks (23 percent).
Greater demand, lower supply and “booming” job markets have boosted home prices in some of the hardest-hit markets nationally. But many still are not back to pre-crash levels yet, CoreLogic Chief Economist Frank Nothaft said in a statement.
The bulk of Nevada’s population is in the Las Vegas area, and CoreLogic’s report again highlights how extreme the valley’s boom and bust was last decade. Las Vegas’ market was among the most inflated nationally during the real estate bubble, with soaring prices and booming construction. It was also one of the hardest-hit after it burst, marked by sweeping foreclosures, bankruptcies and job losses.
The report is also another reminder of how long it’s taking for Southern Nevada prices to get back to the levels of the go-go days, despite having one of the fastest growth rates nationally.
The median sales price of previously owned single-family homes, the bulk of the market, peaked at $315,000 in mid-2006 and hit bottom at $118,000 in early 2012. As of January, it was $265,000, according to the Greater Las Vegas Association of Realtors.
Nationally, Seattle posted the largest year-over-year price increase in December, at 12.7 percent, followed by Las Vegas at 11.1 percent and San Francisco at 9.2 percent, according to the S&P CoreLogic Case-Shiller index of 20 metro areas.
CoreLogic’s state-by-state report mirrors one issued in January by home-listing service Zillow.
Among the 35 metro areas listed in that report, Las Vegas posted the steepest drop in home values after the market crashed (62 percent), the biggest bounce back after hitting bottom (113.2 percent) and, currently, the widest gap from its previous peak (19 percent).
Forestar Group Inc. has sold $232 million of homes and land to the East Coast investment firm that had tried to acquire the Austin real estate company in 2017.
In a Thursday securities filing, Forestar said it offloaded 20 community development projects to an affiliate of Starwood Capital Group and an affiliate of Land Strategies Management.
The 20 community development projects total about 750 home lots that are developed or under development as well 4,000-plus undeveloped lots, plus 730 acres and an ownership stake in a multifamily property in Katy, Texas.
Connecticut-based Starwood was in a bidding war last year for Forestar (NYSE: FOR), but lost out to Dallas-based D.R. Horton Inc., the nation's largest homebuilder. The $560 million D.R. Horton deal closed on Oct. 5; it now owns a majority stake in Forestar.
Also on Thursday, D.R. Horton (NYSE: DHI) reported that Forestar generated about $30.8 million in revenue between the close of the deal and the end of 2017. Income before taxes was $4 million.
In 2007 Forestar was spun out of the now-defunct Temple-Inland Co. to handle a variety of operations and investments related to land banking, land development, groundwater rights and leasing, minerals and natural resources management and the oil and gas business.
But its mission shifted drastically over the years, and it sold off its oil-and-gas and multifamily divisions. It now focuses on land development for real estate projects and is active in 11 states.
Daniel Bartok took over as Forestar CEO in December, replacing Phillip Weber.
If WFT was to merge with a competitor, which competitor do you think would be the best fit? SLB, HAL, Baker? I'm staying out of the oil patch for now but I hope the trade works out for you! If you haven't heard of MSPC you might want to check it out. It's trading at a 52-week high, it's been moving higher on heavy volume. On Thursday it was up 50% and hit a 52-wk high. The next day it went up 33% and closed at a new high. Their revenues are growing a lot and every day there is heavy trading volume. One idea would be to get shares of MSPC and hold them for a few months or more and then take out some profits and wait until oil comes into favor. Once oil comes into favor, that would be the time to add to energy positions.
Great news for Pulte:
Pulte Homes has spent $102.8 million to bite off a piece of entitled land in what is slated to become part of a massive mixed-use transit village in San Jose’s Edenvale area on the city’s south side, county records show. The property, a vacant swath of land adjacent to the former IBM disk drive campus, is one of only a few areas in San Jose that is slated to be filled with single-family homes. Cupertino-based Hunter Storm entitled the 25-acre property, which is owned by iStar Financial, for 418 single-family homes and 301 multifamily units in 2014. -Feb 28, 2018
Comment: This should mean revenue of half a billion dollars. Profit could be anywhere from 100M to 200M. This is great, much better than more developments in questionable markets. I was starting to worry PHM was only focused on unfavorable local markets but this is a step in the right direction. Land prices are booming in California and if PHM can collect more land soon it would be beneficial.
Citrus Ranch MP in Indio Ca. Is Sold
Buyer is identified only as a prominent local investor.
Citrus Ranch, an approved master-planned golf course community in Indio, California, has been sold by Saxony Land Company to a buyer identified only as "a prominent local investor in the Coachella Valley, according to Land Advisors Organization of Irvine, which represented the seller and announced the deal.
The Citrus Ranch community will feature approximately 3,053 residential units that will range in density from 2.5 du/ac to 15 du/ac. Citrus Ranch will offer segmented products along with luxury amenities like a community pool/spa, clubhouse, parks, and a golf course. The community also will contain an 18-hole, 7,100 yard, par 72 golf course that will provide spectacular views of the surrounding communities and take advantage of the natural topography.
David Landes, a vp at Land Advisors, said, “The new owners of Citrus Ranch recognized the value of the previous approved Specific Plan. They plan to add value through various innovative new land uses and plans.”
Riverside County’s population is expected to increase by 1.2% each year until 2022, ultimately confirming the already optimistic vision of many home builders looking to expand into the county.
The Coachella Team of Land Advisors Organization will be coming to market soon with two additional masterplans: Escena in Palm Springs and Shadow View in Coachella. (Builder Magazine, Feb. 2018)
Comment: Too bad PHM didn't buy this land. I think golf developments are not the way to go, perhaps that's why PHM didn't buy it. I was thinking PHM could divest the golf portion or change the master plan and take out the golf making it something else instead like a man-made lake. It would be nice to see PHM focus more on Southern California.
In Las Vegas, a market dominated by public builders—the eight biggest builders there in 2016 were publics who controlled 75.4% of the market share, according to BUILDER’s Local Leaders data—American West Homes founder Larry Canarelli says the land competition is fierce. For those in the area who aren’t a public or large private builder, like American West, there aren’t many lots to go around. “The little guy, he is caught by wherever he can find between a 2.5- and 5-acre piece,” Canarelli says. “If the little guy finds a piece in North Las Vegas that he can put 12 houses on and he can buy it cheap, he’s gotta buy it. Because that’s all he can get.
“It’s not like it used to be where there would be 20-acre pieces that you could put 100 homesites on and maybe put a little community park in,” he adds. “Those pieces don’t exist now.”
As most high school juniors can tell you, when inventory is low and demand is high, prices rise. The June HMI survey also found that 81% of builders said the price of developed A lots was somewhat to substantially higher than it was the year prior. In comparison, 74% said the same was true with respect to B lots, and for C lots it was 65%.
Shrinking lot supply and rising land prices make business complicated for any builder. But for those at companies without large development teams or sizable capital backings, finding and buying land is even more of a reason to lose sleep. (Builder Magazine Feb 5, 2018)
Interesting take. Perhaps you are more familiar than I am but I still think interest rates are low now and not expected to rise much any time soon. Incremental increases are no sweat. Interest rates went up around 2003 or 2004 and yet housing stocks boomed 2004, 2005. Thanks for sharing your ideas! Since you are bearish on builders is there an industry you are bullish on?
I disagree. KBH just bought some land in Moraga, California and plans to build 36 homes. This is another example of a profitable venture in a very hot market. Rising interest rates could impact KBH's margins, mainly their borrowing costs. Demand is very high in areas like Moraga. The interest rate doesn't matter for many of the buyers and there are way more buyers than houses to buy. So, if you eliminate some of the poor buyers who cannot afford to buy you still have all the remainders. Also, when KBH sells a house they often carry paper and benefit from higher rates like a bank. Higher interest rates are a headwind but getting financing currently is easy especially for a company like KBH so they pay low rates. What woild hurt would be a glut of inventory, huge stock market selloff or a much tighter credit market all in my opinion. Your thoughts?
Mid-Atlantic real estate expert, Shark Tank's Barbara Corcoran is predicting higher home prices. She was asked whether the tax changes or other headwinds will lower home prices this year. If anyone knows the re business it's the delightful and devastatingly beautiful Barbie! This is a great time to be a builder. TOL has many competitors but it's one of the better choices and they have a history of making wise financial decisions. The niche market that TOL serves makes it special in the industry and there is an upside from here according to my analysis. How can you disagree with a shark?
The company is moving ahead with new projects in hot markets like NJ and CA. Projects are selling out. This looks like a great time to load up and enjoy the ride. Now that we have the financing in place all the stars are aligned. Huge upside possible.
Recent indicators from NAHB are very positive. Sentiment is high at 72. Sales expectations for the next 6 mos. rose to 80, up 2 from a month prior. Buyer traffic remained steady at 54. Current sales conditions rated 78. All signs indicate WLH should have a great 2018. It's a strong seller's market.
Institutional buying on WLH and other builder stocks today as the overall indices fell sharply. I see this as a low term treand, ie, fund rotation into builder stocks. MSPC hit a 52-week high today on very heavy volume. I'm glad I bought shares and I hope WLH can hit a 52-week high soon. The new lots in Beaumont, Riverside County should help future revenue.
Rising tide raises all boats. The housing market is white-hot and it is getting hotter every day. Funds are pouring into this industry from saavy managers and investors. TOL will benefit, it's a given. Another stock to consider is MSPC. I bought shares and now I'm as happy as a clam. MSPC hit a 52-week high today on steady volume and closed at the high price of the day. Hopefully, TOL will also be able to set a new 52-week high as well.
Stock keeps going up even on down market days. Huge buys came in end of day on several home building stocks. I think what is happening is that fund managers are waking up to the realization that the housing market is sizzling hot. Demand far outstrips supply which benefits DHI tremendously. More good news ahead for DHI! Another good one is MSPC. That stock is up 50% today on heavy volume and closed at a 52-week high but it's not too late to get on board.
Funds are flowing into homebuilding stocks. Quality builders' shares are doing well even in a down market. Is it a flight to quality? According to reports, sales of new homes were very soft in PHM's main market and yet the pps is going up, up. I wonder if PHM is planning to buy up a competitor or two this year like WLH recently did. Regardless, PHM is poised to do well this year because I think the industry is booming and should be able to raise prices without difficulty at least in the hot markets. MSPC is another stock that is in favor, closing today at the 52-week high on heavy volume.
LEN is a bright spot in a down market today. A lot of news reports are talking about low sales in the housing market but that is only due to low inventory. Higher rates should not impact LEN as long as demand is so strong. This should be a great year for LEN shares and MSPC is another great stock which happens to be up at the 52-week high on strong volume. Many of LEN's assets such as lots should be increased in value on upcoming financial filings which equates to higher intrinsic value per share. If that happens the share price should also increase.
HOV is plugging along on many great projects that will have no problem selling. Prices are surging in the west and HOV has a strong presence in the hottest markets. I like HOV better than any of its competitors that I can think of. Much better than PHM and better than TOL and WLH because HOV has the best locations! LEN also has great locations but the market cap is a lot higher. Another great stock is MSPC, it's trading at the 52-week high.
The good news is that WFT is raising money and continuing to pay their bills. I was worried there for a minute about bk. I tried to everyone here and on the CHK board that this might go to 1 unless oil goes up but my msg was deleted on CHK a few weeks back. My advice is to stay out of the oil patch and instead look at MSPC or HOV. MSPC is trading at a 52-week high yet seems undervalued considering revenue growth outlook. Oil is at 61 now. If oil creeps up WFT should hold steady or creep up.
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--William Lyon Homes (the “Company” or “William Lyon Homes”) (NYSE: WLH), a leading homebuilder in the Western U.S., today announced that it has entered into a definitive agreement to acquire RSI Communities (“RSI”), a Southern California and Texas based homebuilder, and three additional related real estate assets for an aggregate cash purchase price of approximately $460 million. The transaction marks the Company’s entry into Texas and is expected to close in the first quarter of 2018, subject to the satisfaction of certain closing conditions.
RSI Communities has operated in the Inland Empire of Southern California and the Austin and San Antonio, Texas markets since being founded by Newport Beach based entrepreneur and building products veteran, Ron Simon, and 30-year homebuilding veteran, Todd Palmaer. As of December 31, 2017, RSI owned or controlled 11,128 lots, including 6,895 in Austin, Texas, 1,060 in San Antonio, Texas and 3,173 in the Inland Empire, California. RSI primarily targets the entry level and first time buyer segments.
Comments:
$42,000 per lot purchase price, approx. I like the Inland Empire exposure but I'm not as excited about the high price for the Austin and San Antonio lots. Overall, I'd say it's good news...the new normal of high lot prices.
Morningstar's Preston Caldwell recently came out with a piece rating WFT above HAL, equal with SLB and only beaten out by Baker Hughes. Good news for WFT.
"Overall, fourth-quarter results from the integrated oilfield services companies-- Baker Hughes (BHGE), Halliburton (HAL), Schlumberger (SLB), and Weatherford International (WFT)--were in line with ongoing trends, with few surprises for investors. Across the board, the companies experienced robust revenue growth in the high single digits. Likewise, there was continued strengthening in margins, with the primary exception of Weatherford, which remains mired in a seemingly endless restructuring campaign..."
ORINDA, CA / ACCESSWIRE / February 13, 2018 / Leading national homebuilder and real estate developer Taylor Morrison (TMHC) announces its luxury view homes at the Wilder master-planned community in Orinda are move-in ready. Awarded America's Most Trusted™ Home Builder three years running, Taylor Morrison starts 2018 with the availability of its estate-style homes at Wilder. Surrounded by over 1,300 acres of protected natural open space in Northern California's Contra Costa County, Taylor Morrison at Wilder offers residents the distinction of living in a luxurious home in an exceptional natural setting, with significant proximity to Bay Area cities.
Taylor Morrison homes currently on sale at Wilder range from 3,944 to 4,147 square feet, with four bedrooms, 4.5 bathrooms, and three-car garages. The homebuilder incorporates open concept design, spacious owner suites, expansive courtyards, formal dining rooms, fireplaces, butler's pantries, and other quality features into these two-storied homes. Prices start from approximately $2.1 million.
''We're proud to announce we have extraordinary luxury homes at Wilder, ready for Spring move in,'' said Joyce Lee, VP of Sales and Marketing at the Bay Area division of Taylor Morrison. ''Active homebuyers have the incredible opportunity to make a Taylor Morrison home, and the Wilder lifestyle immediately theirs.''
Taylor Morrison residents enjoy an array of Wilder amenities, including a private swim and recreation center, five community ball fields, and an extensive network of paths and trails for walking, hiking and biking. Wilder is a five-minute drive to downtown Orinda, and 25-minute drive to San Francisco. Families may attend Orinda's award-winning public schools, or select from East Bay's top private schools that are also an easy drive away.
Upgrade; Bank of America: Neutral to Buy
1/24/2018
It should be a good year for 2018 just like many other housing related stocks! In terms of valuation, the stock does not seem to be overbought at the moment of overvalued compared to the overall market.
New upgrade:
Wedbush - neutral to outperform!
WLH has lots of great developments in hot markets. Looking into my crystal ball, I think 2018 is going to be a great year for WLH much like many of their competitors.
SAN RAMON, CA, Feb. 06, 2018 (GLOBE NEWSWIRE) -- The True Life Companies (TTLC) is pleased to announce the first two sales of home sites at its 199-acre, 976-unit Sterling Meadows master-planned community in Elk Grove, CA, a highly regarded suburb of Sacramento. The first 60 home sites were sold to national builder K. Hovnanian Homes, which closed in mid-December. The second set of 69 home sites was sold to Richmond American Homes, which closed in mid-January. These two closings are part of three recent bulk transactions in the North Village phase of Sterling Meadows, with a total of 460 lots. The third sale of home sites is currently in escrow.
According to Aidan Barry, Senior Vice President of Development, TTLC, “The sale of these home sites to K. Hovnanian and Richmond American are excellent examples of our company’s commitment to deliver developed lots on time, and on budget, to the industry’s premier home builders.”
Homes at North Village will include five product types to be offered by three different home builders, and will be designed to address the needs of both entry-level and first-time move-up buyers. The remaining home sites are expected to close escrow in the coming months, with model homes for the new neighborhoods opening by the middle of 2018. Prices will likely initially range from the mid-$300,000s to the $500,000s.
The timing of these releases is expected to help address the pent-up demand for new housing in the Sacramento area. As of November 2017, the Sacramento Association of Realtors® reported just 1.7 months of for-sale housing inventory versus 3.4 months nationally. In general, a supply of six months is typically considered balanced. At the same time, the group reported a median single-family home sale price of $348,250, up 7.2 percent over the previous year and almost 79 percent higher since the same month of 2012.
A primary factor driving the increase in home prices is the lack of new housing. Between 2012 and 2016, based on building permit totals from the Census Bureau, population estimates from the California Department of Finance and an average household size of 2.7 persons, the four-county Sacramento Metropolitan Statistical Area (MSA) averaged just over 5,000 permits per year against a need for about 7,800. In total, just from this five-year period alone, potential housing demand outpaced supply by over 14,000 units.
“To address this chronic housing shortage, The True Life Companies is investing heavily in the Sacramento region, with over 700 future home sites in our pipeline,” said Scott Clark, Chairman and CEO, TTLC. “We’re also looking to convert under-utilized infill properties to a residential use, thereby helping to meet the immediate demand for buildable lots by home builders, homebuyers, and local municipalities.”
Sterling Meadows is adjacent to The Outlet Collection at Elk Grove, a regional retail center expected to be completed in 2018, and which will include over 100 shops as well as a 14-screen movie theater, outdoor dining and a children’s play area. Also in planning next door to The Outlet Collection is the Wilton Rancheria Resort casino, which will include a 12-story, 302-room hotel and spa, convention center, six restaurants and bars as well as a 110,260-square-foot gaming floor. Located just one quarter-mile from Highway 99, residents of the community will enjoy an easy commute to job centers throughout the Sacramento area.
At Sterling Meadows itself, work is already underway on a unique community park with a music theme developed in collaboration with the local Community Services District. With over $5 million invested, the 13.7-acre park will open in 2018 and include facilities for soccer, basketball, tennis, volleyball, fitness stations and a tot lot, but that’s just the start.
“In order to create a unique sense of place for the entire community, the music theme is present throughout the park, with interior pathways resembling the treble cleft, which is a key musical element,” explained Aidan. “Even the play areas and water play areas are envisioned to contain music-themed equipment, while both the plazas and water play areas will have musical notes and symbols inlaid into the pavement.”
In order to carry the theme beyond the park, street names are also tied to music, with the exception of one key street to be named for a fallen military veteran of Elk Grove.
Future home site development at Sterling Meadows is also included in the South Village, with a total of 486 lots, which TTLC is planning to develop and market for sale starting in 2018.
“With national new home sales recently rising by the largest amount in 25 years and the highest total in over 10 years, we are well-positioned to provide ongoing home site inventory to the industry’s best builders,” added Clark.
The True Life Companies is composed of a team of highly successful residential real estate professionals who work together with property owners, municipalities, and local stakeholders to address the need for sustainable housing options in high-need communities. The company seeks to establish suburban and urban infill housing options that are the result of insightful research, innovative planning and creative collaboration. TTLC is headquartered in Denver, Colorado, with offices in Folsom, California; San Ramon, California; and Scottsdale, Arizona.
For more information regarding TTLC's property portfolio, please visit www.TheTrueLifeCompanies.com.
Demand was strong across the US, including Massachusetts, Texas, Nevada, Arizona and California.
New orders rose 14% to 4,805 homes and by 22% to $2 billion.
However, adjusted gross margin fell to 23.8% vs. 24.9% a year earlier as wages rise and commodity prices climb.
PulteGroup also announced a $500 million stock buyback program. It'll be added to its existing plan, which has $94 million remaining.
Outlook: Management expects demand in the housing sector to continue to improve with the active adult and entry level markets were cited as growth areas. But Pulte sees margins squeezed further due to increasing labor and material costs, with lumber and concrete highlighted as particular concerns. "There remain many positive forces pushing the market higher," President and CEO Ryan Marshall said during the earnings call. "Employment trends are favorable and wages are showing signs of growth."
by Michael Larkin IBD
Pulte Homes is developing a 229-home community in the Dr. Phillips area of Orlando with homes ranging from $500,000 to $2 million.
Atlanta-based Pulte purchased the land last year and has plans to invest several millions more in infrastructure. It will offer 13 floor plans at the Phillips Grove community, ranging from two to seven bedrooms and two-and-a-half to six-and-a-half bathrooms, plus two- or three-car garages. Home sizes will range from 2,000 square feet to more than 5,000 square feet and prices will reach the $2 million mark for lakefront home sites. The large homes with life-tested designs can be personalized to fit a family’s needs and style, Pulte says.
“We are very excited to bring our Phillips Grove community to life this year,” said Clint Ball, president of Pulte’s North Florida division, in a statement. “This is a prime opportunity for buyers looking for new construction in Dr. Phillips. Plus, there are very few opportunities to own a home on the Butler chain of lakes—that’s something exclusive we are able to offer. We believe this will be one of the most unique opportunities to come to the market in Orlando this year.”
Phillips Grove will also offer several luxury amenities including a gated entrance, resort-style pool with cabana and a summer kitchen, athletic courts, and included lawn care. The new community is located just minutes from I-4 and residents can easily access “Restaurant Row”, highly-rated schools, and shopping.
“With the wide-variety of floor plans and square footage, this community is for buyers who want to upgrade to new construction in one of Orlando’s top submarkets or those who already live in the area who may want to downsize,” said Ball. “That’s why this is such a highly-desirable community.”
Pre-sales for the home sites have begun and the grand opening is set for April with model homes available to tour. Pulte plans to incorporate their model home tours with the latest in virtual reality technology.
Phillips Grove is one of 13 projects Pulte plans to open in the Orlando area this year.
by Brian Croce
Revenue jumped 15%
Pre-tax income surged 23%
All good news coming out for DHI. Foot traffic at open houses is very heavy in the west according to reports. Very high demand can only help DHI.