Wouldn't you be PISSED if you bought a home from Centex last week, or heck even today, and then found out that for 12 hours on Saturday they're giving $60,000 off (as in, you overpaid $60k, or your home's value just dropped $60k)
These builder price cuts are a slippery, slippery slope, and like Vegas saw last year, open the builders up to charges of fraud and deception.
One more thing for folks to consider who are buying next to where builders are building. They can crush you at any time. The profit margins on new houses have soared to such atmospheric heights that they can hack away at price and still make a fortune. However, if you bought one of their houses for say $500k, your cost basis is $500k if not more.
Hat tip to HP reader AJ for the lead
January 12, 2006
Posted by blogger at 1/12/2006