Dream Homes Stock Price, News & Analysis

Dream Homes & Development Corporation (OTCPK: DREM) announced a successful $4.67 million funding package for its Berkeley Terrace development, which will cover refinancing land debt, site improvements, and construction of the first 10 units. Financing was facilitated by Mattics Lending and Whitestone Realty Capital. CEO Vince Simonelli expressed optimism about the financing conditions in the current market. The company reported profitability in its 2022 annual report and is pivoting to a Build to Lease strategy due to a shortage of rental properties, aiming to complete 155 units for leasing rather than selling. This shift is expected to create significant revenue streams and supports future growth in the New Jersey real estate market.

Dream Homes & Development Corporation (OTCPK: DREM) reports significant growth with plans for $108 million in new construction projects.

Sales increased by over 28%, and assets rose by $8 million. The company is shifting focus to the emerging Build To Lease trend, changing 155 units from Build For Sale to Build To Lease in Ocean County.

Management anticipates new home construction to account for over 70% of revenue by mid-2023, addressing a $3.4 billion market opportunity for rebuilding affected by Storm Sandy.

Dream Homes & Development Corporation (OTCPK: DREM) announced receipt of letters of intent for its Berkeley Terrace 70-unit Townhome development. Acquired on June 29, 2021, the company plans to commence infrastructure work and a pre-sales program. President Vince Simonelli highlighted New Jersey's robust real estate market, attracting interest in their projects. DHDC intends to file its Q3 financial report by November 15, 2021. The company specializes in construction and development along the New Jersey shore.

Dream Homes & Development Corporation (OTC PINK:DREM) has collaborated with Action Plus Realty, New Jersey's top Century 21 firm, to market its new 70-unit townhome project, Berkeley Terrace. The company has secured financing from Ocean First Bank, enabling them to initiate infrastructure work and a pre-sales program, with first closings expected by late spring 2022. The press release emphasizes the area's booming real estate market, evidenced by a 23% increase in townhome sales in 2020 and an anticipated average sales price of $330,000 for the new units.

Dream Homes & Development Corp. (OTC PINK:DREM) recently addressed a surge in trading activity and stock price appreciation. On September 14, 2021, DREM reached a trading range of .0676 to .32 per share, closing at .12 with record volume. CEO Vince Simonelli noted no specific material event triggered this interest but highlighted significant year-over-year gains in current and total assets. The company anticipates strong performance ahead, with several development projects in progress, including townhome and apartment complexes in New Jersey, and has signed a consulting agreement for enhanced investor relations.

Dream Homes & Development Corporation (OTC PINK:DREM) reported a record third quarter for the period ending September 30, 2020, highlighting a significant increase in jobs in process, now totaling $7,807,467. The estimated gross profit from these projects is $1,895,552. The company is also pursuing 20 additional jobs with potential contracts exceeding $6 million. CEO Vince Simonelli expressed confidence that 2020 contract sales will reach or exceed $6 million, reflecting strong market interest and a positive outlook for the future.

Dream Homes & Development Corporation (OTC PINK:DREM) has reported a significant start to its Berkeley Terrace Reservation Program, achieving 45% reservations for Phase 1, consisting of 9 homes out of 20. CEO Vince Simonelli expressed surprise at the strong interest level for these townhomes, expected to be ready for occupancy between July and September 2021. The demand is attributed to the lack of affordable housing in New Jersey and demographic shifts. The company is actively pursuing numerous residential projects and has over 1,200 active prospects in its database.

Dream Homes & Development Corporation (DREM) announced record-breaking sales growth for 2020, achieving a quarterly revenue of approximately $2,984,000, marking a 341% increase year-over-year, and a 144% increase for the first nine months with total revenue of $5,118,000. Factors driving this growth included new contracts and increased office traffic. CEO Vince Simonelli anticipates full-year sales could reach $6,000,000. The company is actively pursuing new opportunities in residential construction with over 1200 active prospects.