D.R. Horton offers 50% discount on existing home inventory in Southern California. New comps bring bitter tears to prior home buyers.
• • • • • D.R. Horton first quarter revenue plunged to $1.71 billion from $2.8 billion a year ago. The builder closed on 6,549 homes, down sharply from 10,202 in 2007.
"Market conditions remained challenging in our December quarter as inventory levels of both new and existing homes remained high while pricing remained very competitive," said Donald R. Horton, chairman, in a statement.
The company's 2008 goal is to generate at least $1 billion in cash flow from operations. In the first quarter it generated more than $550 million in cash flow from operations, mainly driven by $476 million in cash generated by reducing our inventories. • • • • •
Prices Offered Up to 50% Off During D.R. Horton's 'UnAuction' Sale - February 16 and 23 Only!
prnewswire.com
SIMI VALLEY, Calif., Feb. 8 /PRNewswire/ -- D.R. Horton has announced unheard of savings up to 50% off on a variety of homes at 23 participating neighborhoods throughout Southern California. Unlike any Sale homebuyers have ever seen, D.R. Horton's UnAuction presents dramatic sale prices and unbeatable new home value without the auction hassle. The UnAuction's homes will go on sale promptly at 10 a.m. on Saturday, February 16 and again on Saturday, February 23 only.
During the two-day sale, all homes will be sold on a first-come-first-serve basis. Homebuyers must pre-qualify in person or by phone at a participating neighborhood to take advantage of the perfect timing and get an unbelievable deal. Pre-qualified buyers need to arrive early and present a $5,000 cashier's check for the best selection and before these brand new homes are gone forever!
"Market-wise buyers do not want to miss out on this opportunity to purchase a new D.R. Horton home at prices up to half-off. With a record number of neighborhoods taking part in The UnAuction Sale, buyers will find a comprehensive offering of homes unmatched in location, style and price," explains Chris Chambers, California Regional President for D.R. Horton, "America's Builder." "To locate a neighborhood and select your dream home, visit drhortonunauction.com today!"
Whether buyers are looking for their first home, needing additional space for a growing family or wanting to downsize, they must act now to benefit from D.R. Horton's unprecedented sale. With move-in ready residences now available in the most sought after neighborhoods, buyers will find a variety of homes from which to choose including townhomes, condominiums and big, beautiful family homes at participating neighborhoods in Kern, Ventura, Riverside, San Bernardino and Imperial counties.
UnAuction's new home selections and unbelievable deals present timely opportunity for buyers at every stage of life.
Move-in ready homes include the superb single-family residences of Contessa's Vineyard and Lavender Trails at City in the Hills in the New Northeast of Bakersfield and the single level flats of Port Marluna at Seabridge, a national award-winning community in the Channel Islands Harbor. Participating neighborhoods throughout San Bernardino County include the inviting single-family designs of Manzanita in Adelanto and the stylish one- and two-story homes of Senna in Victorville.
Throughout the Inland Empire, select D.R. Horton collections offering UnAuction pricing on move-in ready homes include the townhomes of Fenton at Artisan Collection in Chino, the attached condominiums of Reflections, the triplexes of Enclave and single-family homes of the Bungalows at Temecula Lane all located in Temecula. A wide selection of detached homes in Murrieta include North Oaks, Biarritz and Latour at Country Roads. Additionally, the condominium homes of Woodbury at College Park in Chino have move-in ready homes available.
Desert neighborhoods include the single-family collections of Alicante, Florencia, Genova and Venecia at Talavera and Sonora Wells at Shadow Hills in Indio; Aurora and Hopewell at Skyborne in Desert Hot Springs and the condominiums of Alegria in Palm Desert.
In the Imperial County participating neighborhoods include the spacious single-family homes of Estancia at Sevilla in Heber and the townhome collection of Villas Serena in Imperial.
D.R. Horton intelligently blends the strength and stability of the nation's largest homebuilding brand with the depth of regional knowledge of a seasoned local builder. D.R. Horton has earned a solid reputation for putting their customers first and proudly continues that tradition at each of their neighborhoods by offering homebuyers a variety of innovative,
flexible financing options. D.R. Horton is ranked as the nation's largest homebuilder for the fifth consecutive year. D.R. Horton is a publicly traded company and a Fortune 500 company.
Product availability is subject to change; please see a Sales Representative for details.
* This offer is on a first come, first served basis and is only on specific homes and only in participating neighborhoods listed above. To participate, buyers must first pre-qualify at a participating neighborhood. Purchaser must also present a $5,000 cashier's check, made payable to D.R. Horton at time of home selection and purchase agreement.
All terms subject to credit approval, market changes and availability.
Loan programs are offered by seller's affiliated lender, DHI Mortgage Company Ltd., L.P. CA Residential Mortgage Lender & Servicer BC 8135179. Promotion is applicable on all sales contracted between February 16 and February 29, 2008. All sales must close by March 31, 2008. Buyer is not required to finance the home purchase through DHI Mortgage to receive the sales price.
D.R. Horton offers a 3% Broker Co-Op. Current broker commission is 3% of the base price of the home. Buyer must close escrow by March 31, 2008 for broker to receive commission. Broker and client must be present on initial visit. Restrictions apply. Please see a Sales Representative for details.
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