[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Cloudy
Cloudy
72°F
 
Calendar
Today in
S.C.V. History
June 25
1859 - Outlaw Tiburcio Vasquez escapes from prison while serving sentence for grand larceny in L.A. County; recaptured in August and sent to San Quentin [story]
Tiburcio Vasquez


Up, up, up. The third quarter of 2012 was kind to Lennar Corp. as the Florida-based homebuilder’s year-over-year profits quadrupled to 40 cents per share ($87.1 million) from 11 cents ($20.7 million) one year earlier.

“Our third quarter reflects solid profitability in all of our business segments,” CEO Stuart Miller said in the quarterly earnings report. “The housing market has stabilized and the recovery is well underway.”

Locally, Lennar is marketing seven new-home communities in Valencia and the company owns 15 percent of The Newhall Land and Farming Co., which is preparing to build the first two (of five) phases of the eventual 20,880-home Newhall Ranch development west of Interstate 5 in the Santa Clarita Valley.

Nationally, Lennar’s year-over-year total revenues rose 34 percent ($1.1 billion). Revenues from home sales were up 33 percent to $932.8 million from $700.6 million in 2011, due largely to a 28-percent increase in the number of home deliveries (3,655 versus 2,832 a year ago) and an average price increase of 4 percent ($258,000 versus $247,000).

The company didn’t have to sweeten the pot for homebuyers nearly as much, either. Sales incentives offered to homebuyers on homes delivered during the quarter were $26,100 – 9.2 percent of home sales revenue – versus $33,600 one year earlier (12.0 percent).

“Low mortgage rates, affordable home prices, increased buyer confidence and an extremely favorable rent-to-own comparison are driving growth in each of our markets,” Miller said.

He said fewer foreclosure homes on the market are contributing to new-home orders, as well.

New orders during the quarter were up 44 percent (4,198 homes) with a cancellation rate of 17 percent. As of Aug. 31 the company had a backlog of 4,513 homes, up 79 percent, and that backlog had a dollar value of  $1.3 billion, up 95 percent.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
The Los Angeles County Department of Public Works (Public Works) announced lane closures in Castaic on Thursday.
Lane Closures in Castaic Thursday Expected to Cause Delays
SAN BERNARDINO - The JetHawks put together their biggest ninth-inning comeback of the season on Monday night, rallying for six runs to beat the Inland Empire 66ers, 8-7, at San Manuel Stadium.
JetHawks Rally with 6 Runs in 9th-Inning Comeback
The Santa Clarita City Council will consider adopting its new budget for the 2019-20 fiscal year Tuesday, and hold public hearings related to special districts and open space.
City Council to Consider Adopting 2019-20 Budget
1859 - Outlaw Tiburcio Vasquez escapes from prison while serving sentence for grand larceny in L.A. County; recaptured in August and sent to San Quentin [story]
Tiburcio Vasquez
The Lancaster JetHawks came out on top, 9-8, over Rancho Cucamonga in a game that saw multiple lead changes in the late innings Sunday afternoon at The Hangar.
JetHawks Win in Late Innings Sunday, Take Series
Sean Bouchard went deep and drove in four runs on Saturday night, but the JetHawks fell to the Rancho Cucamonga Quakes, 10-5, at The Hangar.
Another Big Game for Bouchard in JetHawks Loss
The Santa Clarita City Council Legislative Committee will hold its next public meeting Tuesday, June 25, starting at 4 p.m.
June 25 City Council Legislative Committee Meeting
The Santa Clarita Valley Sanitation District Board of Directors regular meeting is set for Wednesday, June 26, starting at 1 p.m.
June 26 Special Meeting: SCV Sanitation District
The June 25 agendas for the Santa Clarita City Council's special and regular meetings have been released by officials.
June 25 Agendas – Santa Clarita City Council Meetings
Of all the parks and recreation agencies in the nation, the city of Santa Clarita's Jakes Way Neighborhood Program in Canyon Country has won the 2019 Innovation in Social Equity Award from the National Recreation and Parks Association.
City’s Jakes Way Program Wins Top National Award
The Los Angeles County Department of Public Health is assessing exposure on the West Side of Los Angeles by two county residents who recently traveled and became ill with measles shortly after returning home.
County Warns of Measles Exposure on LA’s West Side
The Lancaster JetHawks, playing as El Viento de Lancaster for the sixth time this year, took down Rancho Cucamonga, 13-7, at The Hangar Friday night.
El Viento Win Over Los Temblores Friday
The Santa Clarita Valley Chamber of Commerce, in partnership with the city of Santa Clarita, is proud to announce the honorees for the 9th Annual Patriots Luncheon.
SCV Chamber Names 2019 Patriots Luncheon Honorees
Southern California Gas Co. will continue its grant program that helps California cities become more resilient in the face of climate change risks such as flooding, wildfires, extreme heat, drought, sea level rise, and other extreme weather events.
SoCalGas Offers $100K Grant to Help Cities Prep for Climate Change
The city of Santa Clarita has received an award from the Association of Public Treasurers of the United States and Canada for its Fiscal Year 2019-20 Investment Policy.
Santa Clarita Investment Policy Wins National Honor
Static and ham radio codes pierced the air at SCV Water in Saugus as the Santa Clarita Amateur Radio Club held its Amateur Radio Field Day on Saturday and Sunday.
SCV Amateur Radio Club Broadcasts Nationwide for Field Day
A traffic collision involving two semi trucks and an electric car caused a fuel spill in Newhall on Monday morning.
Truck, EV Crash Causes Fuel Spill on Sierra Highway
The California Department of Motor Vehicles will close its offices statewide for a half day of 'Operation: Excellence' customer service training on Wednesday, July 24.
DMV to Close Statewide for ‘Operation Excellence’ Training
The spiteful ex-boyfriend was dead wrong when he told Ashley Farley she would never see her beloved Pomeranian pup “Ella” again after informing her that he sold the dog while she was at work.
Ash, Ella Reunited: Dog Sold by Ex Returned
An individual involved in a stabbing by an apartment complex in Newhall was sent to a hospital Saturday night, according to Los Angeles County Sheriff’s Department officials.
Stabbing in Newhall Sends 1 Person to Hospital
Santa Clarita Valley Sheriff’s Station deputies discovered a suspected concentrated marijuana grow lab and detained three suspects after being called to the scene of a party at a vacant property in Canyon Country on Saturday evening.
Deputies Bust Suspected Cannabis Grow Lab, 3 Detained
A Canyon Country property that housed the Soledad Trailer Lodge for decades until the mobile home park's recent demolition could soon become the site of several new residential and office units.
Developer Seeks to Build on Mobile Home Park Site
1980 - Saugus Train Station relocated to Heritage Junction [story]
Saugus Train Station
1946, 11:20pm: William S. Hart, 81, dies at L.A.'s California Lutheran Hospital, leaving his Newhall home and 80-acre estate to L.A. County and his Hollywood home to L.A. City [story]
Hart dies
%d bloggers like this: