AXR ==> The Independence Day Winner!

[studentofthemarket]

What about Water?

does anybody know what/ if any water constraints there might be?

That is thing that gives me pause in SW development.

student

[mrmarket]

does anybody know what/ if any water constraints there might be?

That is thing that gives me pause in SW development.

student

If they can do it in Vegas, with its population, Rio Rancho is a snap.

[Karel]

OK, Huge One, I am in! Today at 49.55. Limit order to sell at 57.45 in place!

Regards,

Karel

[jiesen]

I'm in!

Excellent pick, $$MM! I'm in with you at 49.9.

[mrmarket]

Looks like I finally got a good entry...

[Lyehopper]

Looks like I finally got a good entry...

Yes you did!.... I'm playin' with you on this one too $$$Mr. Market$$$.... Should happen quick.

[billyjoe]

Mr.Market,
You and Lye must have put some big bucks into this one , volume more than doubled and price way up. Keep 'er going.
-------------billyjoe

[DSteckler]

Nice call, Ernie.

[mrmarket]

does anyone else see the same long term value that I do? I could care less about the short term chart action. I was looking for someone to tell me that I wasn't valuing their land holdings properly....

[Websman]

Look at that little doggie run! <TICK>

[lemonjello]

Gimme land lotsa dusty land...

If my maff is correct, I think your $600,000,000 could be too hi.

Gross margin on land sales last 10Q - 47%
RE inventory on last 10K - $52,906,000

Approx retail land value = $100,000,000

By my reading only a portion of the 20k acres are under current development.

Who cares tho, it looks like it's on its way to make 15% in a crappy market!

Anyone confirm it made the IBD 100?

Thanks to Spike for the nice stoppage info.

While the earnings are pretty impressive, the real story is in the balance sheet. It’s pretty simple. A call to several Rio Rancho realtors revealed that the average Rio Rancho undeveloped acre was going for $30,000. If you take AMREP’s 20,000 acres and multiply it by $30,000 per acre, you get $600,000,000.

[shavens123]

ibd 100 # 12 debut

could easily go to top 3 in a week or so.....

[New-born baby]

15%

MM,
Did I miss something? You bought at $49.80

1.15 X $49.80= $57.27

OR

$49.80 X 15% = $7.47, when added to $49.80 = $57.27

Your target price is $57.45. Is the difference commisions?

[mrmarket]

MM,
Did I miss something? You bought at $49.80

1.15 X $49.80= $57.27

OR

$49.80 X 15% = $7.47, when added to $49.80 = $57.27

Your target price is $57.45. Is the difference commisions?

something like that

[lemonjello]

Thank you, Clyde Frog ...

Dearest Lemonjello,

Thank you for wading thru the complicated footnotes of the 10K and 10Q and providing that fine bit of concise, insightful financial analysis regarding the retail land value. Truly, you are a gentleman and a scholar.

If my maff is correct, I think your $600,000,000 could be too hi.

Gross margin on land sales last 10Q - 47%
RE inventory on last 10K - $52,906,000

Approx retail land value = $100,000,000

By my reading only a portion of the 20k acres are under current development.