Toll gives Colorado a 'C'

In a conference call discussing F2Q07, CEO Robert Toll issues his grades for performance in various markets:

Thank you. San Antonio, I said we haven’t got our product up and running as we should yet, so it’s only a C market, but suspect it is really a B. Northern California averages to be a C market for us, though there are some pockets that are Bs and some that are Ds. California southern market is a C market for us. California Palm Springs is a C market for us. Arizona, other than for the new special Wingate Ranch community, I would rate as a D-minus. Vegas is definitely an F. Reno is an F. Colorado is a C.

So there you have it . And here's the end of the call:

Timothy Jones - Wasserman & Associates

Bobby, this is the best breakdown that anybody gives, but you have quite a bunch more Fs than you had the last time. Does that imply that the business -- which I think you are saying -- is the business at best is going downward. Is that a correct interpretation?

Robert I. Toll

Yes.

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Finally, here's Seeking Alpha's latest agglomeration of housing-related articles. According to RealtyTrac's sometimes maligned foreclosures ranking, Reuters reports that CO came in 2nd to NV in April with 1 foreclosure for every 314 HH's, while among cities, Greeley was no. 3 (1:165) and Denver no. 10 (1:236). Nationally, foreclosures were down 1% from a two-year high in March, and up 62% from a year ago.