Texas Property Insider- Austin Real Estate and Texas Coastal Real Estate Blog

Welcome to Texas Property Insider. The purpose of this blog is to provide accurate and helpful information about market trends and issues important to property owners in Central Texas and on the Texas Coast. You hear a lot of talk out there. You see the statistics, read the stories in the newspaper and you see practitioners regurgitate those same stories and statistics. There is more information available then ever before. But why is it, even after all of the stories and pundits have had their say, you still feel you can’t grasp what’s really happening in the real estate market?


There is a lot more to it than simple statistics and market info. These numbers are helpful and vitally important, but if taken at face value they can be misleading, even deceiving. As Mark Twain once said, “There are lies, damned lies and then there are statistics.” I created this blog to pull back the curtain on Texas real estate, interpret the market information and present it to you in a format that is both pithy and easy to digest.

Friday, May 7, 2010

Forestar Group net loss falls to $3M in Q1 Read more: Forestar Group net loss falls to $3M in Q1

Austin-based Forestar Group Inc. improved finances in the first quarter, though still posted a $3 million net loss compared with a $3.9 million negative the same three months last year.


“Our first quarter results reflect current market conditions for our business,” Forestar President and CEO Jim DeCosmo said.

“Although we are encouraged many elements of the economy have stabilized or improved, we remain cautious as job growth has yet to materialize - a critical component of demand for our real estate and natural resources.”


The real estate and mineral resources company lost about 8 cents per basic share during the first quarter, compared with 11 cents during the same quarter last year. Total revenues fell to $26.4 million from about $29.1 million the first quarter 2009.


Forestar's real estate division owns about 249,000 acres of land in nine states either directly or through ventures. The company also owns 25 percent interest in the Palisades West office park in Austin, 59 percent interest in Las Brisas apartments in Austin and 100 percent of the Radisson Hotel in Austin. Its mineral resources cover about 620,000 net acres of oil and gas interests located, primarily in Texas, Louisiana, Alabama and Georgia.


The company was formed as a spin-off of Temple-Inland Inc. (NYSE: TIN) in 2008 and has about 93 employees.



Read more: Forestar Group net loss falls to $3M in Q1 - Austin Business Journal:
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