Friday, February 10, 2006
Who Wants to Raise Your Taxes? Homebuilder Contribute Less Than the Profit on One House Trying To Raise Your School Taxes
DRH- D.H. Horton, new owner of Cambridge Homes seems to have a 16.7% profit margin on its homes. (A 25.8% gross profit is reported in its Summary Consolidated Financial Information and Operating Data. I subtracted sales and administrative cost to derived a 16.7% profit before taxes.) It is the largest homebuilder in the country, according to its September 8, 2005, SEC Registration Statement S-3/A.
Attached homes at Algonquin’s Winding Creek Luxury Townhomes are priced from $263,080 to $317,510. The homebuilder will earn about $43,000 profit on its cheapest townhouse.
Another area builder, Centex reports its “home building operating margin was 16.8%” in the quarter ended December 31, 2005.
It did not make contributions to District 300’s tax hike committees since 2000, but is building the Canterbury Place attached homes in Algonquin and Sweetwater in Woodstock. Its web site says its Algonquin “base plan prices (range) from $196s-$237s.” Profit on the lowest price model would be about $33,000.
Using Pulte’s 2004 net profit margin of 14.5%, Pulte would earn about $43,000 on its cheapest Carpentersville model.
Pulte Homes reports on page 18 of its 2004 Annual Report says “selling, general and administrative expenses” as a percentage of revenue were 14.5%.
Pulte is selling homes in Carpentersville at its two subdivisions Prairies and Meadows of Winchester Glens. The price at the Prairies start at $362,990 for the cheapest home and starts at $419,990 for the most expensive model. At the less expensive Meadows, the low-end starts at $297,990. The highest priced model without add-ons is $331,990.
If Pulte’s profit margin remains as high as it was in 2004, the profit on the lowest priced home in District 300 would be about $43,000.
Realen, owned by Orleans Homebuilders SEC # (0000038570) had a gross profit from July through Sept, 2005, of 22% on page 18 of an SEC filing.
I couldn’t find the net profit, but, let’s assume that it is over 10%.
If so, a sale of the cheapest home in Lake in the Hills’ Cheswick Place. No prices are listed on the web site, but my guess is over $200,000, based on the competition.
R. Chad Dreier, CEO of Ryland, ranked number 481 in the Fortune 500 list, in SEC filing # 1-8029 reported that the pretax homebuilding margin was 17.7% for the fourth quarter of 2005, compared to 14.8% for the fourth quarter of 2004. Jan. 24, 2006.
In the 2004 Annual Report: Gross profit margins from home sales are reported to have been 23.2%. Subtracting the 9.6% sales and admin yields a net profit margin of 13.7%. Rylan reported the strongest gross margins in California, Chicago, Denver, Las Vegas, Mid-Atlantic, Orlando and Twin-Cities.
Timber Trails Townhomes in Gilberts range from $209,350 to $235,350. At the more recent 17.7% profit margin, Ryland would make over $43,000. Ryland is also building more expensive single family homes and town homes at Gilberts Town Center.
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Attached homes at Algonquin’s Winding Creek Luxury Townhomes are priced from $263,080 to $317,510. The homebuilder will earn about $43,000 profit on its cheapest townhouse.
Another area builder, Centex reports its “home building operating margin was 16.8%” in the quarter ended December 31, 2005.
It did not make contributions to District 300’s tax hike committees since 2000, but is building the Canterbury Place attached homes in Algonquin and Sweetwater in Woodstock. Its web site says its Algonquin “base plan prices (range) from $196s-$237s.” Profit on the lowest price model would be about $33,000.
Using Pulte’s 2004 net profit margin of 14.5%, Pulte would earn about $43,000 on its cheapest Carpentersville model.
Pulte Homes reports on page 18 of its 2004 Annual Report says “selling, general and administrative expenses” as a percentage of revenue were 14.5%.
Pulte is selling homes in Carpentersville at its two subdivisions Prairies and Meadows of Winchester Glens. The price at the Prairies start at $362,990 for the cheapest home and starts at $419,990 for the most expensive model. At the less expensive Meadows, the low-end starts at $297,990. The highest priced model without add-ons is $331,990.
If Pulte’s profit margin remains as high as it was in 2004, the profit on the lowest priced home in District 300 would be about $43,000.
Realen, owned by Orleans Homebuilders SEC # (0000038570) had a gross profit from July through Sept, 2005, of 22% on page 18 of an SEC filing.
I couldn’t find the net profit, but, let’s assume that it is over 10%.
If so, a sale of the cheapest home in Lake in the Hills’ Cheswick Place. No prices are listed on the web site, but my guess is over $200,000, based on the competition.
R. Chad Dreier, CEO of Ryland, ranked number 481 in the Fortune 500 list, in SEC filing # 1-8029 reported that the pretax homebuilding margin was 17.7% for the fourth quarter of 2005, compared to 14.8% for the fourth quarter of 2004. Jan. 24, 2006.
In the 2004 Annual Report: Gross profit margins from home sales are reported to have been 23.2%. Subtracting the 9.6% sales and admin yields a net profit margin of 13.7%. Rylan reported the strongest gross margins in California, Chicago, Denver, Las Vegas, Mid-Atlantic, Orlando and Twin-Cities.
Timber Trails Townhomes in Gilberts range from $209,350 to $235,350. At the more recent 17.7% profit margin, Ryland would make over $43,000. Ryland is also building more expensive single family homes and town homes at Gilberts Town Center.
To return to McHenry County Blog, click here.
# posted by Cal Skinner : 4:54 AM
