Builder Online Magazine points out that there are some very smart investors who have taken advantage of the current real estate cycle. Case in point, Chris Kemmerly sold his company Kemmerly Homes to Standard Pacific in August 2004. In December 2007, Standard Pacific sold its Tucson division back to a group led by Kemmerly. The price was not disclosed but everyone has to assume that in lieu of Standard Pacific's struggling financial state, the Kemmerly group got a good deal. The inventory at that time was 700 lots and 70 completed or partially completed homes. The deal closed prior to fiscal year end (smart investment move for the buyers).
Smart Tucson investors love our $299 AZ flat fee listing service. Visit the www.congressrealty.com website to learn more.
Comments(0)