YES - YOU DO. REALTORS NEGOTIATE ON YOUR BEHALF. WE KNOW WHAT TO ASK FOR IN A CONTRACT. WE KNOW HOW TO USE YOUR DESIRED LENDER AS MOST BUILDERS WANT YOU TO USE THEIR'S. REALTORS Â ARE NOT SALES PEOPLE THAT YOU WILL NEVER WORK WITH AFTER YOU SIGN ON THE "DOTTED LINE" AND HAVE TURNED OVER YOUR EARNEST MONEY CHECK. WE ARE THE FOLKS RESPONSIBLE FOR COMMUNICATING WITH THE BUILDER,YOUR Â LENDER AND TITLE COMPANY. ONCE YOU WALK IN THE SALES OFFICE Â OFFICE, THEY WANT TO SELL YOU THEIR PRODUCT. SOME SALES REPS Â ARE HIRED RIGHT OFF THE STREET AND HAVE NO IDEA WHAT INFRASTRUCTURE IS IN PLACE OR WILL COME IN THE FUTURE. SALES REPS FOR BUILDERS WILL TELL YOU EVERYTHING POSITIVE ABOUT THE AREA, A REALTOR WILL ANSWER YOUR QUESTIONS STRAIGHT FORWARD SO YOU CAN DETERMINE IF THE DEVELOPMENT YOU ARE LOOKING IN IS RIGHT FOR YOU. THE BUILDER MAY HAVE ANOTHER COMMUNITY THAT IS A BETTER OPTION FOR YOU. DO YOU THINK A SALES REP IS GOING TO GUIDE YOU AWAY FROM THEIR DEVELOPMENT?
YOU DON'T PAY FOR OUR SERVICES, THE BUILDER DOES. OUR COMMISSION DOES NOT AFFECT THE PRICE OF YOUR HOME, IT CAN'T, THAT IS A CRIME IN TEXAS. BUILDERS ARE NOT ALLOWED TO DISCRIMINATE AGAINST REALTORS. HOWEVER, ONCE YOU WALK IN TO A SALES OFFICE AND STATE YOU HAVE NO REALTOR, YOU HAVE NO ONE OTHER THAN THAT SALES OFFICE OR THE PERSON THEY HAND YOU OFF TO , TO HELP YOU. ALWAYS USE A REALTOR WHEN BUYING A NEW HOME.
LUCY A. PUNIWAI
BY SANDRA BAKER
FORT WORTH â€”Â Fort Worth-based homebuilder D.R. Horton today reported fiscal third-quarter income of $787.8 million, which included a non-cash tax benefit of $716.7 million related to losses incurred during the housing crash.
Without the tax benefit, Horton still realized $72.2 million in pre-tax income in the quarter ending June 30, its best performance since the second fiscal quarter of 2007, Donald Tomnitz, Hortonâ€™s CEO, told Wall Street analysts.
"We feel very good about the U.S. housing market . . . and our position in the U.S. housing market," Tomnitz said.
Shares of Horton stock (ticker: DHI) were trading down 2.8 percent at $18.27 mid-morning on the New York Stock Exchange.
The earnings amount to $2.22 a diluted share. That compares to $28.7 million, or 9 cents a share, in the year-ago quarter. Revenue from homebuilding was $1.1 billion, an increase of 14 percent from $975.4 million in the same quarter of 2011.
More home sales were closed in the quarter, 4,957, compared to 4,555 a year ago, Horton said. In its first three quarters of its fiscal year, Horton has closed on 13,315 homes, up from 11,708 homes in the same period a year ago.
Sales orders, including buyers looking for custom-built homes, increased 25 percent to 6,079 homes, from 4,874 a year ago, Horton said, while net sales orders for the first nine months grew 20 percent to 15,772 homes.
Horton has also concentrated on buying lots to position itself for economic and housing recoveries.
"Weâ€™ve got a huge footprint," Tomnitz said. "I would be very disappointed in five years if we're not closing over 50,000 units."
In a statement, Chairman Donald Horton said, "All of our homebuilding regions were profitable in the third quarter, and each region reported increases in sales, backlog, revenue and pre-tax income compared to last year. Our lots controlled under option increased 41 percent, positioning us to grow our community count in fiscal 2013."