Saturday, September 24, 2016

Wall Street Journal Reports: Lennar to Buy WCI Communities as Florida Housing Recovery Continues

Lennar to Buy WCI Communities as Florida Housing Recovery Continues

The deal combines two of the largest home builders in the state


By AUSTEN HUFFORD
Updated Sept. 22, 2016 10:28 a.m. ET


 
Lennar Corp. will buy WCI Communities Inc. for about $643 million, a move that combines two of the largest home builders in Florida as the housing recovery continues.

Lennar will pay $23.50 a share in cash and stock for WCI, a 37% premium over WCI’s closing share price Wednesday.

“WCI’s land portfolio dovetails perfectly with our own Florida footprint and expands our product offering to capture more of the move-up market,” Lennar Chief Executive Stuart Miller said.


The offer will be $11.75 in cash and $11.75 worth of Lennar shares.

WCI has a 35-day “go-shop” period in which it will solicit and evaluate potential alternative offers.

The deal is subject to approval by WCI stockholders. A vote is expected to occur in December or January.

Shares of WCI rose 41% in morning trading to $24.19 and Lennar shares rose 2% to $44.35.

In recent quarters, home builders have seen increases in average price per home and in the number of homes delivered as the housing market continues its recovery from the 2007 financial crisis.

WCI also said it had reached retention agreements with its chief executive, chief financial officer and the president of its north region to stay 120 days after the deal closes.





Thanks for reading!
Ali

Ali H. Johnston, MHA, MBA in Real Estate
Realtor®, Lic. Broker #BK3284964
West Villages Realty LLC
Mobile: 941-460-3179

Tuesday, September 20, 2016

September 12 West Villages Presentation Slides

North Port Sarasota County Meeting September 12, 2016
West Villages Information












Ali H. Johnston, MHA, MBA in Real Estate
Realtor®, Lic. Broker #BK3284964
West Villages Realty LLC
Mobile: 941-460-3179


If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to you, and in most instances, I am even able to save home buyers money.  I do not work for any of the wonderful builders/developers in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction can provide you with a wealth of information as well as saving you money.

Please, check out my Venice area website, and contact me for more information.
Look forward to hearing from you!


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Monday, September 12, 2016

Venice Lighting Company

There is a terrific new lighting store that opened this year, and I just found out that new development residents (like us) get a 10% discount. It is called Venice Lighting Company. 

Went in there today for a couple of pieces. The prices were great, and I have done A LOT of shopping online before making the purchase at this store. The owner and her assistant were so friendly and helpful, too. Just can't say enough positive things about it. 

Apparently, it is a husband and wife operation. He is an electrician, so they offer in-house installation services as well.










508 COLONIA LN. E. NOKOMIS, FL 34275 

MON-FRI: 9AM-5PM, SAT: 10AM-4PM  

PHONE: 941-484-4205



Ali H. Johnston, MHA, MBA in Real Estate
Realtor®, Lic. Broker #BK3284964
West Villages Realty LLC
Mobile: 941-460-3179
www.WestVillagesRealty.com


Saturday, September 3, 2016

Finding Sharks' Teeth

Just a quick note...they say that a great time to look for sharks' teeth is after a storm, since it churns everything up. Quite a number of people were out on Manasota Beach last evening getting a head start on it already.



Happy hunting!
Ali Johnston




Broker/REALTOR®
West Villages Realty LLC
(941)460-3179

19503 S. West Villages Pkwy
Suite A2 (office hrs by appt)
Venice, FL 34293

www.WestVillagesRealty.com
www.WestVillagesHome.com
www.IslandWalkVillage.com
www.GranParadisoVillage.com
www.NewHomeVenice.com