Posts From Steve Devorak
Housing Outlook 2015
Kiplinger sets forth its perspective on the housing market for 2015. Among the key takeaways – modest price appreciation, return of first-time buyers and increased new home production. All-in-all, similar
Hovnanian Beats the Street
In its latest quarterly earnings report, Hovnanian posted profit of $322.5M or $1.95 per share versus analyst expectations of 20 cents per share. Notably, $285.1M of profit was from a
Land Acquisition Challenges
Land acquisition veteran Joseph Reed, newly with Shopoff Realty Investments, discusses acquisitions strategy and challenges. At the top of his list of challenges? Navigating the difficult entitlement process in California
Shopoff Bolsters Land Acquisition Staff
Joseph Reed joins Shopoff Realty Investments as Vice President of Land Acquisition. The 27-year land business veteran was most recently with KB Home and had also previously held positions with
Hombuilder IPO Window Closed for Now
After eight homebuilder IPOs in 2013 and the beginning of 2014, there seems to be no appetite for new stock issuances as a result of a generally slow 2014 in
Woodbridge Pacific Closes on 76 Lot Canyon Hills Project in Chino Hills
Foremost Communities sells Canyon Hills to Woodbridge Pacific, a private homebuilder based out of Mission Viejo. The project, located in the highly desirable Inland Empire market of Chino Hills, will
Trumark Takes Down Wallis Ranch
Newport Beach-based developer, Trumark, closed on 184-acres in Dublin, CA for approximately $200M. While the transaction is a Northern California land deal, it is worth noting as one of the
Small Cap Homebuilder UCP Positioned for Buyout
In this article by Seeking Alpha, the contention is made that the landholdings of the publicly-traded homebuilder, UCP, the bulk of which was acquired in the downturn, is being carried
Foreign Investors Playing Larger Role in High-Profile Land Segment
Top CBRE broker, Laurie Lustig-Bower, has a front row seat to the influence foreign investors are having on the trophy, land asset market. While in Southern California, the outsize buys
Stage Set for a Strong Second Half of 2014?
In this article from Zacks, many of the factors affecting the housing market outlook for the remainder of the year are examined along with how some of the various public
