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“Sometimes the worst of times are the best of Soloff said. Soloff is undaunted. After heading up the retaikl group and becoming an equith partnerat CL&A, his experience has given him the confidencse to not only venture into a new realjm of real estate but to leave the comforts of one leasing — completely behind. “I’m viewingb it as a very opportunistic time to take advantagw of betterbuying opportunities,” he While he hasn’t pulled the trigged on any deals yet, Soloffd is scouring the East Coast to buy or builx single-tenant, freestanding properties and grocery-anchored centers.
On the biggef deals, Soloff has a public life insurance company he can tap as an equity partner and will seek local partners to joint ventureon deals. sold aboutt one home for each of its communitiex during its fiscal first reflecting the state of paralysis of thehousing market. Toll sold 266 homez totaling $127.8 million from 258 housing communities from wher e it is activelyselling homes, according to its quarterlyu report. Though the first quarter includes colder monthss in which fewer salestypicallg occur, during the same period a year ago, Toll sold 647 homeas totaling $375.1 million from 273 communities.
What Robert Toll, CEO of the Horshamk company, thinks would help sell a lot of houses isa $15,00p0 tax credit for all home buyeres and not the $8,000 credit just for new home buyerx the Obama administration has according to the company’s first-quarter conference Toll is holding out hope the highedr credit for all buyers will make its way back into the stimulud package. If it does, Toll believes prices will eventuao stabilize and prospective buyers will feelmore confident, and finallty buy houses again.
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