The rumors have been swirling all week that First Home Builders was closing it’s doors.  While this may not be true, what apparently is in the works is for First Home Builders to sell off assets in SW Florida it no longer intends to use.

Parent company Hovanian Enterprises, Inc is losing money, and expects a negative cash flow of between $175-$225 Million dollars this year.

In related news, we hear KB Homes has pulled out of the Cape Coral Florida market and will focus on selling in other SW Florida real estate markets.