AI
Thursday, February 23, 2006 12:26:40 PM
Len re CTON,
Sales and closings are two different things with CTON. Closings trailed sales by seven homes in Q2 and 4 more homes in Q3. If closings just catch up with old sales in Q4 they will report an outstanding quarter!. But I also think they will show a continued strong backlog into 06. I also see no sign of any sale slowdown for them based on what I have seen.
For whatever reason, people are moving to warm and sunny places like Vero Beach. On the other hand, I don't know of anyone who wants to move to places like say...hmmm..Kansas when they retire. Yes Florida has the risk of hurricanes but Kansas has tornadoes, miserably hot summers and frigid winters (the norm). A growing shortfall of lots due to growth and environmental restrictions in areas like Vero Beach will likely bring a continued increase in lot and real estate prices, not a bust as you predict.
Sales and closings are two different things with CTON. Closings trailed sales by seven homes in Q2 and 4 more homes in Q3. If closings just catch up with old sales in Q4 they will report an outstanding quarter!. But I also think they will show a continued strong backlog into 06. I also see no sign of any sale slowdown for them based on what I have seen.
For whatever reason, people are moving to warm and sunny places like Vero Beach. On the other hand, I don't know of anyone who wants to move to places like say...hmmm..Kansas when they retire. Yes Florida has the risk of hurricanes but Kansas has tornadoes, miserably hot summers and frigid winters (the norm). A growing shortfall of lots due to growth and environmental restrictions in areas like Vero Beach will likely bring a continued increase in lot and real estate prices, not a bust as you predict.
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