Gilbert homeowners, builder reach compromise on development

A homebuilder’s plans for 114 luxury homes in south Gilbert won a 6-0 recommendation from the Gilbert Planning Commission on Wednesday after a hard-fought compromise between the developer and a group of neighbors who had protested the proposed increase in density.

Pennsylvania-based Toll Brothers recently purchased about 59 acres of surplus property from the Flood Control District of Maricopa County and is seeking a zoning change to accommodate nearly twice as many homes on the land as currently allowed.

The parcel, near Riggs Road and Adora Boulevard, is next to two communities with much bigger lots, Greenfield Acres and Greenfield Glen.

 Several residents from those subdivisions complained the zoning change, as requested by Toll Brothers, would detract from the low-density, agrarian feel of the Santan Character Area, which encompasses about 16 square miles in south Gilbert.

Read more: Gilbert homeowners, builder reach compromise on development

Toll Brothers Posts Strong Growth - WSJ.com

In the latest sign that the U.S. home-building industry has finally found its footing, Toll Brothers Inc., the nation's largest builder of luxury homes, reported a 46% increase in quarterly earnings and posted a double-digit gain in revenue.

Toll's results follow strong earnings from other home builders and increasing confidence in the market for newly built homes. Across the sector, companies such as PulteGroup Inc., D.R. Horton Inc. and Meritage Homes Corp. have reported earnings jumps, and last week, the National Association of Home Builders said builder confidence had risen to its highest level since February 2007.

"It feels good to be making money again," said Martin Connor, Toll's chief financial officer, in a conference call with analysts Wednesday.

For the fiscal third quarter ended July 31, Toll Brothers reported a profit of $61.6 million, or 36 cents a share, up from $42.1 million, or 25 cents a share, a year earlier. Revenue rose 41% to $554.3 million. Analysts polled by Thomson Reuters had expected earnings of 18 cents a share on $510 million in revenue.

Orders of new homes—a crucial metric for builders—surged 57% to 1,119, a further sign the rebounding activity seen this year may be more than just a blip.

"Top to bottom, this result was easily the best we've seen in the industry this quarter. One must look hard to find a negative," wrote Stephen East, an analyst with ISI Homebuilding Research, in a client note. "The luxury market has been one of the best, if not the best segment in housing. Throw in lack of competition, and the recipe is there for [Toll's] continued outperformance."

Toll executives chalked up the strong results to low mortgage rates and renewed interest from consumers as the economy continues to improve.

"Why is demand up, in light of macro trends? People on the sidelines for seven years, incredible interest rates, homes more affordable than ever, families tired of waiting," Toll Chief Executive Douglas Yearley said during Wednesday's conference call. "Confidence is up, and people are coming back out."

Toll also has been able to increase profit margins by raising prices on its homes. Gross margin, excluding interest and write-downs, was 24.4%, compared with 23.4% a year earlier, and the average price on contracts signed for Toll homes was $603,000, up from $570,000 in the prior-year period.

These price increases can be attributed in part to the lack of competition from existing homes. Inventories of unsold, previously owned homes have been falling steadily for the past year, from 8.7 months' supply to six months' supply in July, the National Association of Realtors said Wednesday.

"With an industrywide shortage of inventory in many markets, we are enjoying some pricing power," Toll said in a written statement.

While Toll's contracts and home-building revenue rose in all four regions of the country in which it operates over the past nine months, the biggest gains were in the West.

That is partly because of an expansion on the West Coast over the past year. In November, Toll bought Seattle-based builder CamWest Development LLC, and this year began selling its first homes in the Pacific Northwest. In June, Toll expanded its presence in Orange County, Calif., by paying $110 million for a half-share of Baker Ranch, a large land parcel near Irvine, Calif., that is slated for 2,000 homes.

For the most recent quarter, revenue increased 66% from the North and 5.3% from the Mid-Atlantic region. The South was up 41%, and the West climbed 75%.

Toll's shares, which have more than doubled over the past year, rose 3.8% to $33.01 at 4 p.m. Wednesday in composite trading on the New York Stock Exchange.

by Robbie Whelan Wall Street Journal Aug 22, 2012


Toll Brothers Posts Strong Growth - WSJ.com

Toll Brothers Posts Strong Growth - WSJ.com

In the latest sign that the U.S. home-building industry has finally found its footing, Toll Brothers Inc., the nation's largest builder of luxury homes, reported a 46% increase in quarterly earnings and posted a double-digit gain in revenue.

Toll's results follow strong earnings from other home builders and increasing confidence in the market for newly built homes. Across the sector, companies such as PulteGroup Inc., D.R. Horton Inc. and Meritage Homes Corp. have reported earnings jumps, and last week, the National Association of Home Builders said builder confidence had risen to its highest level since February 2007.

"It feels good to be making money again," said Martin Connor, Toll's chief financial officer, in a conference call with analysts Wednesday.

For the fiscal third quarter ended July 31, Toll Brothers reported a profit of $61.6 million, or 36 cents a share, up from $42.1 million, or 25 cents a share, a year earlier. Revenue rose 41% to $554.3 million. Analysts polled by Thomson Reuters had expected earnings of 18 cents a share on $510 million in revenue.

Orders of new homes—a crucial metric for builders—surged 57% to 1,119, a further sign the rebounding activity seen this year may be more than just a blip.

"Top to bottom, this result was easily the best we've seen in the industry this quarter. One must look hard to find a negative," wrote Stephen East, an analyst with ISI Homebuilding Research, in a client note. "The luxury market has been one of the best, if not the best segment in housing. Throw in lack of competition, and the recipe is there for [Toll's] continued outperformance."

Toll executives chalked up the strong results to low mortgage rates and renewed interest from consumers as the economy continues to improve.

"Why is demand up, in light of macro trends? People on the sidelines for seven years, incredible interest rates, homes more affordable than ever, families tired of waiting," Toll Chief Executive Douglas Yearley said during Wednesday's conference call. "Confidence is up, and people are coming back out."

Toll also has been able to increase profit margins by raising prices on its homes. Gross margin, excluding interest and write-downs, was 24.4%, compared with 23.4% a year earlier, and the average price on contracts signed for Toll homes was $603,000, up from $570,000 in the prior-year period.

These price increases can be attributed in part to the lack of competition from existing homes. Inventories of unsold, previously owned homes have been falling steadily for the past year, from 8.7 months' supply to six months' supply in July, the National Association of Realtors said Wednesday.

"With an industrywide shortage of inventory in many markets, we are enjoying some pricing power," Toll said in a written statement.

While Toll's contracts and home-building revenue rose in all four regions of the country in which it operates over the past nine months, the biggest gains were in the West.

That is partly because of an expansion on the West Coast over the past year. In November, Toll bought Seattle-based builder CamWest Development LLC, and this year began selling its first homes in the Pacific Northwest. In June, Toll expanded its presence in Orange County, Calif., by paying $110 million for a half-share of Baker Ranch, a large land parcel near Irvine, Calif., that is slated for 2,000 homes.

For the most recent quarter, revenue increased 66% from the North and 5.3% from the Mid-Atlantic region. The South was up 41%, and the West climbed 75%.

Toll's shares, which have more than doubled over the past year, rose 3.8% to $33.01 at 4 p.m. Wednesday in composite trading on the New York Stock Exchange.

by Robbie Whelan Wall Street Journal Aug 22, 2012


Toll Brothers Posts Strong Growth - WSJ.com

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Moody's predicts tougher times for some homebuilders | HousingWire

Homebuilders with good liquidity can expect double-digit growth rates in 2012.

Not that the housing market is particularly robust, but larger companies are taking market share from less-prepared homebuilders, according to a report from Moody's Investors Service.

Homebuilders MDC Holdings ($26.07 0.43%), Toll Brothers ($23.50 0.44%), D.R. Horton ($15.66 0.6%) and Lennar ($25.55 0.83%) will likely grow at a rate above the 7% expectation Moody's holds for the industry. Hovnanian Enterprises ($1.92 0.0405%), Beazer Homes ($2.79 0.06%) and Orleans Homebuilders could struggle, the report states.

"Given recent builder commentary, we believe builders implementing pricing actions through a combination of price increases and incentive reductions can emerge as one of the single most important trends this earnings season," said Stephen Kim, homebuilder analyst at Barclays Capital.

The outlook for homebuilding remains stable, with revenue set to continue to grow on stronger deliveries during the next 12 to 18 months. Increased foreclosure rates will grow supply and depress home prices, on the downside.

"Although homebuilder revenues are expected to rise by more than 10% in 2012 on the back of bigger volumes, Moody's still maintains a stable outlook," said Moody's Credit Analyst Joseph Snider. "Pressures from a rise in foreclosures and declining house prices will dampen homebuilder operating profits even as homebuilders sell more units."

Housing starts dropped 5.8% in March from February, according to the Commerce Department, but rose 10.3% from a year earlier. Building permits also jumped 4.5% month-to-month.

by Jacob Gaffney Housingwire Apr 20, 2012


Moody's predicts tougher times for some homebuilders | HousingWire

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Sales up 20% at Scottsdale's Windgate Ranch

Behind the gated walls of Scottsdale's Windgate Ranch, streets are filling up with residents, mesquite trees are maturing and homes are selling at a modest pace.

It has been more tortoise than hare through the recession for Toll Brothers, but the Pennsylvania-based homebuilder has sold 270 homes here over the past five years.

Windgate Ranch, which is said to be Scottsdale's last master-planned community because no other parcels are set aside for such a development, has persevered through a long market downturn with about 43 percent of 633 homes sold, said Mark Bailey, Toll Brothers vice president.

After a brisk start, sales slowed for a few years and bottomed out last year, he said. This year, "We've had one of the best summers ever," with sales up 20 percent over 2010, Bailey said.

Windgate Ranch is a 780-acre community northwest of Thompson Peak Parkway and Bell Road.

It's positioned geographically and pricewise between McDowell Mountain Ranch to the south and DC Ranch to the north.

Windgate's best features include its unobstructed views of the McDowell Mountains, proximity to the McDowell Sonoran Preserve trails and backyards that overlook washes and open space.

Key amenities include a 12,000-square-foot community center, with pools, fireplaces, game rooms, event space and a playground. A new neighborhood park includes two tennis courts.

Prices start at about $540,000 for 2,300 square feet up to $1.3 million for 6,300 square feet. That is down from the original pricing of $630,000 to $1.47 million.

The median price for new and resale homes in Windgate's ZIP code - 85255 - through Aug. 31 this year was $505,000, according to Information Market data.

Windgate has 40 floor plans and eight model homes.

There are about 20 houses under construction and five of those are spec homes that will be quickly available to buyers, Bailey said.

by Peter Corbett The Arizona Republic Sept. 30, 2011 04:03 PM




Sales up 20% at Scottsdale's Windgate Ranch

Toll Brothers posts profit for 3rd quarter - Business - msnbc.com

LOS ANGELES — Toll Brothers Inc. on Wednesday posted a fiscal third-quarter profit, but the luxury homebuilder said fewer buyers signed contracts, another sign that housing and the broader economy are stumbling.

After an initial pickup in deposits and customer traffic in the first few weeks of May, buyer demand retreated and has remained essentially flat ever since, the company said.

Management blamed weak flagging consumer confidence, not a demand hangover from homebuyer tax credits that expired in April.

"It's continued to be very bumpy and relatively slow, and where we go from here, we don't know," said CEO Douglas Yearley. "Our buyers tend to be very tied to stock market, to world events, to their confidence. And right now they're on the sidelines."

Home sales revived this spring as affordable prices, low mortgage rates and two federal tax credits lured homebuyers into the market. But they stalled after the credits expired at the end of April.

New home sales dropped 12.4 percent in July to the slowest pace on records dating back to 1963, the Commerce Department said Wednesday. And the number of borrowers who applied for a purchase mortgage this week remains 41.5 percent below its April levels, the Mortgage Bankers Association reported.

Now a weakening economy, high unemployment, slow job growth and tight credit are sidelining buyers and many experts don't expect home sales to recover until the job market improves.

By ALEX VEIGA Associated Press August 25, 2010


Toll Brothers posts profit for 3rd quarter - Business - msnbc.com

Toll Brothers posts profit for 3rd quarter - Business - msnbc.com

LOS ANGELES — Toll Brothers Inc. on Wednesday posted a fiscal third-quarter profit, but the luxury homebuilder said fewer buyers signed contracts, another sign that housing and the broader economy are stumbling.

After an initial pickup in deposits and customer traffic in the first few weeks of May, buyer demand retreated and has remained essentially flat ever since, the company said.

Management blamed weak flagging consumer confidence, not a demand hangover from homebuyer tax credits that expired in April.

"It's continued to be very bumpy and relatively slow, and where we go from here, we don't know," said CEO Douglas Yearley. "Our buyers tend to be very tied to stock market, to world events, to their confidence. And right now they're on the sidelines."

Home sales revived this spring as affordable prices, low mortgage rates and two federal tax credits lured homebuyers into the market. But they stalled after the credits expired at the end of April.

New home sales dropped 12.4 percent in July to the slowest pace on records dating back to 1963, the Commerce Department said Wednesday. And the number of borrowers who applied for a purchase mortgage this week remains 41.5 percent below its April levels, the Mortgage Bankers Association reported.

Now a weakening economy, high unemployment, slow job growth and tight credit are sidelining buyers and many experts don't expect home sales to recover until the job market improves.

By ALEX VEIGA Associated Press August 25, 2010


Toll Brothers posts profit for 3rd quarter - Business - msnbc.com

Toll Brothers posts profit for 3rd quarter - Business - msnbc.com

LOS ANGELES — Toll Brothers Inc. on Wednesday posted a fiscal third-quarter profit, but the luxury homebuilder said fewer buyers signed contracts, another sign that housing and the broader economy are stumbling.

After an initial pickup in deposits and customer traffic in the first few weeks of May, buyer demand retreated and has remained essentially flat ever since, the company said.

Management blamed weak flagging consumer confidence, not a demand hangover from homebuyer tax credits that expired in April.

"It's continued to be very bumpy and relatively slow, and where we go from here, we don't know," said CEO Douglas Yearley. "Our buyers tend to be very tied to stock market, to world events, to their confidence. And right now they're on the sidelines."

Home sales revived this spring as affordable prices, low mortgage rates and two federal tax credits lured homebuyers into the market. But they stalled after the credits expired at the end of April.

New home sales dropped 12.4 percent in July to the slowest pace on records dating back to 1963, the Commerce Department said Wednesday. And the number of borrowers who applied for a purchase mortgage this week remains 41.5 percent below its April levels, the Mortgage Bankers Association reported.

Now a weakening economy, high unemployment, slow job growth and tight credit are sidelining buyers and many experts don't expect home sales to recover until the job market improves.

By ALEX VEIGA Associated Press August 25, 2010


Toll Brothers posts profit for 3rd quarter - Business - msnbc.com