Cal Pacific Homes

biscuitninja_IHB

biscuitninja_IHB

New member
<p>I've recently read that they may be going through bankruptcy. So does this bode well for home prices, what do you think will be the eventual outcome.</p>

<p>-bix</p>
 
<p>Funny thing, a friend of mine mentioned the same thing to me as well. I thought he was refering to Standard Pacific just got the names mixed up. From what I've read Standard Pacific is very close to going under.</p>
 
i thought it was his daughter kirsten. but she's since quit the homebuilding business. her and her husband decided to move back to berkeley after the great earthquake of 2005 destroyed their house in newport. that was after don bren had a heart attack and then it turned out he was broke.
 
<p>Cal Pacific were planning to open a new home community in Woodbury called "Andalucia". Recall that?</p>

<p>There is now no mention of this in their website. The link to this page is disabled now. So - I guess they must be going down soon. </p>
 
<p>I was just wondering, i was thinking of putting in some VERY lowball offers, but it a company comes in a buys out everybody, then the best we can do is probably a good discount (10-20%), but nowhere near what would be desirable (40-50%). Anyway let me know guys.</p>

<p>-bix</p>
 
Cal Pac is listed on the irvine companys website as one of their business units, so it looks like it is owned by TIC. If the above is true that Calpac would be fiing for bankruptcy, isnt america great? A cash rich (i presume) company can let one of its subsidiaries file for bankruptcy and avoid its liabilities. Paul Allen, of microsoft, did the same thing several years ago with one his companies that owned the arena where his basketball team, the Trailblazers play in.





This reminds me of that thread regarding the morality of walking away from debt. If billionaires can walk away and be considered brilliant business men, why do home "owners" who walk away get such a bad rep? Shouldnt they be considered brilliant as well?
 
<p>Whoever loans the billionaire's companies the money could have asked for a personal guarantee at the time they lent. I suppose that the lenders were hypnotized by the glamour and charm of the rich guys and just lent without the normal assurances that I would tell my clients to get or avoid (depending on which side of the transaction I was on).</p>

<p>Alas, I have no billion dollar clients. Good thing, because my office isn't fancy enough for them.</p>
 
<p>The subject of recent <a href="http://www.chron.com/disp/story.mpl/ap/fn/5453447.html">BK rumors</a> is <strong>Standard</strong> Pacific Corp. </p>

<p>California Pacific is Irvine Company affiliated and almost certainly is not anywhere near BK.</p>

<p>SCHB</p>
 
<p>Ok, standard pacific it is! As far lending billionairs money, do we need to look any farther than our favorite comb over (Mr. Trump). Anyways good luck</p>

<p>-bix</p>
 
<p>California Pacific Homes is a regional builder. Most privately own companies tend to do well during the recession. The unfortunate destiny of the private company is determined by the public share holders. The last recession of 90's Cal Pac pretty much monopolized Westpark. Their inventory in relatively low unlike Stan Pac. Cal Pac targets entry level boutique market and Asian buyers. Historically Cal Pac has done well in the down turn market. While other builders copies from each other Cal Pac has been busy inventing better products that yield better density as well as discipline in construction efficiency without compromising design aesthetic. Creating better density and lowering construction cost are some key factors that translate favorably to lower selling price. </p>

<p> </p>
 
Bk,



Is that why those darn Cal Pac homes are so small? You can literally touch the ceilings. And the stairs can barely fit one person.
 
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