Filed under: Products and services, Marketing and advertising, Lennar Corp’A’ (LEN), Economic data, Housing, Federal Reserve

Hovnanian Enterprises Inc. (NYSE: HOV) deserves kudos turning lemons into lemonade. This weekend, the upscale homebuilder had a “sale” where lucky home buyers could get about $100,000 in price cuts through incentives, upgrades and add-ons. Media reports indicate that it was a huge success.

Thousands of people lined up at Hovnanian developments in 19 states over the weekend for what the company dubbed as “The Deal of the Century,” according to CNBC. You can bet that other home builders including Lennar Corp. (NYSE: LEN) and Toll Brothers Inc. (NYSE: TOL) took note of Hovnanian’s success and will follow suit. Banks stuck with huge amounts of foreclosed properties might also start to get creative as well. It’s a good sign but people shouldn’t expect miracles.

Continue reading Hovnanian (HOV) turned lemons into lemonade

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This entry was posted on Monday, September 17th, 2007 at 11:08 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.