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“Sometimes the worst of times are the bestof times,” Soloff Soloff is undaunted. After headinf up the retail group and becoming an equitg partnerat CL&A, his experience has givem him the confidence to not only venture into a new realn of real estate but to leave the comforts of one leasing — completely behind. “I’m viewing it as a very opportunistic time to take advantagew of betterbuying opportunities,” he said.
While he hasn’t pulledr the trigger on any deals yet, Soloff is scouring the East Coast to buy or build single-tenant, freestanding properties and grocery-anchored On the bigger deals, Soloff has a public life insurance companyy he can tap as an equitu partner and will seek local partners to jointy venture on deals. sold about one home for each of its communities during its fiscalfirst quarter, reflectingy the state of paralysis of the housintg market. Toll sold 266 homes totaling $127.8 million from 258 housinfg communities from where it is activelysellingg homes, according to its quarterly report.
Thoughb the first quarter includes colder monthd in which fewer salestypically occur, during the same period a year ago, Toll sold 647 homex totaling $375.1 million from 273 What Robert Toll, CEO of the Horsham thinks would help sell a lot of houses is a $15,009 tax credit for all home buyers and not the $8,00 0 credit just for new home buyers the Obams administration has proposed, according to the company’s first-quarter conference call. Toll is holding out hope the higherf credit for all buyers will make its way back into thestimulus package. If it does, Toll believes pricezs will eventual stabilize and prospective buyera will feelmore confident, and finallty buy houses again.
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