What the early stages of this housing recovery show, like every one before it, is the value of home sites that the market's early movers want. A, B, and C lots in America's 25-or so new-home building Meccas earn their letter grades because they trade, not as financial assets, but as real-world real estate that a home buyer wants as his or her home. We've seen in parts 1 and 2 of the TRI Pointe Homes story how global capital and corporate strategy converged on home building earlier this year. In this final segment of the story, we get a feel for what it's like to sprint for the finish line of an initial public offering on the NYSE, and what comes next. BIG BUILDER's John McManus reports.