Orange County Register

TOUSA in Vegas

‘Tis the season for bargain hunting. (Remember when it was time for excess?)

Might the bargain-basement acquisition bug pop up at O.C. builder Standard Pacific? Stan Pac says …

“Although the homebuilding industry is experiencing challenges at this time, we believe that there may be attractive land and corporate opportunities worth considering. We continuously review acquisition and other strategic opportunities which could enhance value for our stockholders. To this end, the Company is engaged in preliminary discussions and the exchange of information with TOUSA, Inc. regarding a possible transaction. There can be no assurances that any transaction will occur, or as to the timing, structure or terms of any transaction. That said, the Company does not anticipate having any further comment unless and until a definitive agreement for a transaction is reached.” (MORE)

So, who is TOUSA?

• “a leading homebuilder in the United States, operating in various metropolitan markets in 10 states located in four major geographic regions: Florida, the Mid-Atlantic, Texas, and the West.” … “We market our homes under leading local brand names including Engle Homes, Newmark Homes, Fedrick, Harris Estate Homes, and Trophy Homes.” (MORE)
• HOLLYWOOD, Fla., Oct. 14 /PRNewswire/ — TOUSA, Inc. (Pink Sheets: TOUS) and certain of its subsidiaries, today announced the filing of their Plan of Reorganization (the “Plan”) and related Disclosure Statement (the “Disclosure Statement”) with the U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division. (MORE)

O.C. builder pays CEO $3 million for 9-months work

Need an outlook on O.C. housing for 2009?

• Consultant eyes flat-at-best O.C. housing market
• Realtor group prez eyes housing’s opportunities
• Pimco’s Simon eyes O.C. home price bottom in late 2009
• Outgoing Realtor prez eyes O.C. rebound by summer
• Tell us what O.C. home prices will do in 2009

Real estate news you may have missed?

• Housing in O.C. beach towns slumps, sales off 28%
• O.C.’s newest beachfront listing: $36.9 million
• 1st home ($20 million+) hits O.C. seaside project
• SoCal rent hikes running at 8-year lows
• Renters spending half as much this holiday
• Big O.C. landlord offering a month’s free rent
• Inland Empire refugees boosting O.C. rents?
• New foreclosures dip, but delinquencies rise
• 8 million foreclosures seen through 2012
• Bungalow from 1922 (or ‘48?) on the market in H.B.
• Where’s the bottom? His crystal ball says it’s close
• Late surge puts O.C. property tax payment up $141 million

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