It's called a firesale. Get out why you still can. Clear through dead inventory. Get some of your investment back before there's nothing left.
Oh, those recent Centex buyers sure have to be pissed. Losing $100,000 because you bought at the top, took the recommendation of your realtor and Centex salesperson, and then BAM - they screw you.
But... $100,000 will seem like childs play in a few more months.
May 01, 2006
Latest Centex advertisement. Yup, those new home sales numbers are making sense now
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12 comments:
Too bad for the suckers who bought the previous week. LMAO
They did not have any sales the previous week, that is why the discount...I wonder when the "last one in" did buy?
Who the f@ck really wants to live in a cookie cutter POS on a postage stamp out in the sticks? Is this The American Dream, or just a fancy "looking" box to house a slave to a government mortgage, taxes, oil company, and WAR!
Who the f@ck really wants to live in a cookie cutter POS on a postage stamp out in the sticks? Is this The American Dream, or just a fancy "looking" box to house a slave to a government mortgage, taxes, oil company, and WAR!
True. Low quality housing has been acceptable to many buyers because of the bubble's wealth effect. Now that the wealth effect is receding the low quality of the great majority of homes built in the last 4 years will become a greater issue for buyers - as well as location.
The rising tide lifted all ships and now the opposite will be just as true.
Goodby wealth effect, goodby consumer spending, goodby retirement, goodby hope.
My sister bought a crappy home from Grand Homes a few years ago. She was able to sell at a 20% gain. The house was full of problems and cheap and shoddy. When someone was taking a shower upstairs, it sounded like a waterfall downstairs. It was so loud you couldn't even hear to TV in the living room. The garage door wouldn't close. The foundation shifted and cause a crack running from ground to roof. Those are just a few of the problems.
Here's another homebuilder strategy. It's called "Out of the frying pan . . ."
http://www.commercialappeal.com/mca/business/article/0,1426,MCA_440_4659093,00.html
Oops. Here is the link in two pieces. In regular text because I am not going to start learning HTML if I can help it.
http://www.commercialappeal.com/mca/business/
article/0,1426,MCA_440_4659093,00.html
Anybody who believes a smiling realtor anywhere in the US deserves what they get at this point.
Last Fall I felt bad for people who got suckered in.
Now, with all the evidence mounting, anyone who buys is too stupid for their own good.
My compassion is completely gone.
DON'T expect the neighbors to be HAPPY to see YOU....What a HIT they just took!
Even with a 100k price cut some owner still see themselfs above water. If they are above water they have no damages, thus no lawsuit. Anyone under contract at a higher price, now that a different story.
Providence, RI: I bought a year ago, a house at $575K. Now I find that my neighborhood is too fancy for me. I would like to be in a slightly smaller home in a slightly less fancy but more convenient neighborhood; now, I could find a house that I would like just as much as my current one, or more, for about $450K. Question: Should I try to sell? I hate the idea of paying closing fees etc. all over again, and the hassle. And aren't there extra taxes when selling so soon? Alternatively, I could wait a few years... I'm very undecided...
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