You are not signed in. (Sign In)

  • stucco-home.jpg

Toll Brothers, the nation's largest builder of luxury homes, said this week 28 percent of customers canceled agreements in the fiscal quarter ended Jan. 31.

Toll Brothers, beset by customers walking away from agreements to buy new homes, said that one cancellation last month came from the daughter of co-founder and Vice Chairman Bruce Toll.

Wendy Topkis and her husband, Douglas, told the company last month that "they did not intend to make settlement" on a $2.5 million Florida condominium, according to a filing Friday with the U.S. Securities and Exchange Commission. Toll Brothers said the company "intends to pursue its rights" under the purchase agreement.

See whole story

Print this

Delicious Digg Reddit Magnoliacom Newsvine Furl Facebook Google Yahoo Technorati Icerocket

Posted in:

You know things aren't looking good when you see this kind of stuff happen!
Could it be they saw the bubble about to burst and knew there would be bailouts. Tax cuts, interest rates lowered, raising of limits on loans. Did they think the cost would be lowered on the property and better to wait six months and consider buying then. Or has everyone just become cautious about the economy right now even the wealthy.
Did I read that correctly? The walk-out buyer is related to a Toll Brother? That's pretty hard core.

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <h1> <h2> <h3> <h4> <h5> <h6> <em> <strong> <code> <del> <blockquote> <q> <sub> <p> <br> <ul> <ol> <li> <dl> <dt> <dd> <a> <b> <u> <i> <sup> <img> <object> <param> <embed>

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.