Calabasas-based homebuilder Ryland Group Inc said it expects to report a loss of 50 cents to 60 cents per share for the first quarter due mainly to an impairment charge of $65 million.

The impairments are associated with assets at the company’s operations in Southern California as well as Fort Myers, Phoenix and Washington D.C. Lower home prices are likely to drive write-downs and a quarterly loss as subprime-mortgage fears weigh heavily on the market.

“At the end of the fourth quarter we were cautiously optimistic that pricing had begun to stabilize,” said Chief Executive Chad Dreier in a statement. “However, as the first quarter progressed, it became clear that aggressive pricing strategies persisted in several markets, requiring us to write-down the value of some of four assets this quarter.”