Event Brief of Q2 2006 Standard Pacific Corp.
|
|
I think we — we approach the business like we would in any market and if we see opportunities where we are segmented — and we pride ourself in our ability to segment product — we’re fairly diversified in our approach in our business, so we don’t have all our product in a select range of price,. An example in markets like Raleigh where we operate — again, we find ourselves in many different pockets in that marketplace. But we are certainly going evaluate. If there’s an inordinate amount of competition, we’re not going to be opening projects right in the face of that kind of competition. We’ll be more restrained in that effort. And I think that’s what we are showing in Phoenix. RICK MURRAY: Okay, great. Thanks. Last question was just can you give us a sense of traffic in orders through July? STEVE SCARBOROUGH,: I would say that they’re not measurably different. I don’t think we would make a statement that we’re seeing improvement yet from what we disclosed in the quarter. RICK MURRAY: Okay. Thanks. OPERATOR: Our next question comes from Timothy Jones with Wasserman Associates. TIMOTHY JONES: Good morning. STEVE SCARBOROUGH,: Hi, Tim. TIMOTHY JONES: How are you? A couple questions. Since two people were concerned about ‘91, I happen to have asked KNB in 1991 how much land was down, finished lots and unfinished lots, and they told me that they were down 25% and 33% respectively; raw land. There was hardly any transactions. Could you give me sort of a feeling on your fini — what you would get if finished lots and unfinished lots are down now in California to give you sort of a magnitude as compared to then? STEVE SCARBOROUGH,: You mean from a market value, market price perspective? TIMOTHY JONES: Market value. How much are they down from the high? I don’t think it’s anything like 25% to 33%. STEVE SCARBOROUGH,: No, I wouldn’t sense that there has been a major movement yet in the pricing of land in Southern California. TIMOTHY JONES: In Northern California, too? Like 5% maybe you want to use? STEVE SCARBOROUGH,: I would say marginal. I would say that’s probably appropriate and that very recently. TIMOTHY JONES: So that gives you an idea of the difference. The other one is, you gave a 7% of equity number. Was that the value of your option or the preacquisitions cost,? What was that number that you gave? STEVE SCARBOROUGH,: That was deposits for land that we have not taken down as a percent of our equity. TIMOTHY JONES: So your option deposits? Source : accessmylibrary.com |