Question-and-Answer Session
Operator
Thank you. We will now begin the question-and-answer session. We ask that everyone limit themselves to one question and one follow-up question to allow us others the opportunity to speak. (Operator Instructions)
Our first question will come from Dan Oppenheim from Banc of America Securities. Please go ahead.
Mike Donald - Banc of America Securities
Hi, this is Mike Donald on for Dan. I am just wondering if you could comment on what you are hearing from land sellers. What’s the gap between of their expectations and what you would be willing to pay, and have you seen any transactions that would be at attractive values for you at this point?
Gary Reece
Well, I think what I would say is, it very significantly market-by-market, so you can’t make a blanket statement other than the fact that generally there is still a gap, because you haven’t seen our start to buy yet. So obviously, they bid vs. ask are still some ways apart. It has come closer and there are number of deals that, not only us but many others are talking about. We are going to continue to watch it, and keep our eyes and ears open, and stay in front of the land sellers, and when they become realistic, then we'll be there to start buying.
Mike Donald - Banc of America Securities
Great. And would there be any markets in particular that you are looking to either exit from, or enter into if the price was right?
Gary Reece
The only one that right now we are looking to exit is the Tampa market. We do have some lots there. All of the lots that we hold there are being held for sale in their current condition. We have about just under 250 lots in that condition in that market. That's really the only market that we've identified as one that we would exit.
As far as new markets, that's not the mode we are in right now. We are right sizing to the markets that we are in and we're just looking for opportunities, and we have infrastructure and the ability to grow in the markets that we are in.
Mike Donald - Banc of America
Great. Thanks.
Operator
Our next question will come from Michael Rehaut with JPMorgan. Please go ahead.
Michael Rehaut - JPMorgan
Hi, good morning. First question, you mentioned, the can rate and the order decline, and I think in some ways it sounds like it certainly continues to comp, and fall short from perhaps your expectations. At the same time, your average order price is falling dramatically, and it doesn't seem to have the desired effect of getting some volumes through. So, I was wondering how you are approaching that going forward in terms of ultimately trying to get some volume back, and if you could give us some color in terms of where the difficulties are more pronounced and if there is any changes that you might be thinking that in terms of how you go about pricing or going to market over the next quarter or two?
- To read the full transcript on Seeking Alpha, click here »
