Let's just say I'd be a bit perturbed if I bought a Pulte home a few months ago, with no kick-backs, and then I stopped by the desperate model home and saw $100 grand in give-aways (not reflected in the sales price btw) to new suckers (oops, I mean homebuyers)
Can you say homebuyer lawsuits for deceptive business practices?
September 16, 2006
The end is here for recent Pulte buyers - your developer is now screwing you with $100,000 in incentives
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17 comments:
I am getting a job in the Home Sales Incentive Business!
Think positive, Keith
- realtor dude
Hey Realtor Dude,
Get use to saying in your new career soon :
"Would you like fries with that?"
There's a Pulte development of McMansions near me, where I've watched re-sales of 2-3 year old houses gather dust for 7 or 8 months. There are 15 or so SFH and about 20 TH listings lingering. These are competing with the brand new ones, which have upgrades/incentives. I saw one FB from there on Craigslist, saying the bank was about to foreclose, desperately trying to rent/sell - very sad.
Prior to construction, Pulte had agreed to build a recreation area, but so far hasn't, and half the land allocated land for the park is taken up by drainage ponds. The remaining land is mostly very hilly and unusable for recreation (except maybe for tubing in snow ) The city is threatening to pull permits for the remaining 6 building sites. I was thinking they oughta scrap buiding anymore since they can't seem to move inventory, but 6 sites are probably only little more than an acre (really crammed-together houses)-- way smaller than the promised 32 acre rec area. I have a feeling that park won't happen.
Pulte, Beazer, Toll etc. build overpriced crap boxes. Sub-standard materials are only the tip of the iceberg. Their homes have very poor resale in a good market in our area.
What deception? If I buy a DVD player for $39.99 last month and its on sale for $29.99 this month, or is the old $39.99 price with a $10 rebate, do I sue the retailer? Unless the retailer guaranteed me in writing at the time of purchase that the price of that exact brand/model DVD player would never go lower, I have nothing to complain about except bad luck or timing.
I bought a 13 inch panel tv years ago, when they first came out, for $550.00 and now they are $299.00.
No, it's not deceptive. It's what you call CREATIVE MARKETING techniques.
I think they're mindful of the time Pulte dropped prices in Vegas and a several speculators started howling for blood and tried to sue.
http://www.reviewjournal.com/lvrj_home/2004/Oct-05-Tue-2004/news/24917895.html
Recent homeowners should be grateful that builders aren't dropping the price and lowering comps.
No it's not deception, but it certainly flies in the face of the notion that houses are a "good investment", and we should buy the biggest we can afford because its appreciation will increase our "wealth".
Using that flat panel TV analogy, can you imagine a salesman's spiel that said "Buy this 32" LCD today for $1000 because next year it will cost $2000!"
Most people would laugh at the guy, but with houses they just seem to nod their heads and smile.
It's like you have a dumb, then you have a dumber. The latter was the last to buy a house because he/she was told the same way as illustrated in the 32" LCD. For example; buy it now at $650k with no money down at option ARM, because it will around $725k next year.LOL.
Shhh..
We WANT the Homebuilders to lower teir pices. HELLO!!!
People who bought at the top ofthe bubble? Tough luck!
That's the way the cookie crumbles.
Go home builders! Do whatever you need to sell that stuff.
people once got sold into slavery, now they buy into it, if the gamble works out, as every dog has its day, ill hear a racist threed starting, turnabout, fairplay?
builders will ride this deflation down into the ground and the big boys can afford to ride it down. the little guys will try to hang tough because it is all they know how to do but in the end the little builders are going to be sucking wind. the big boys will still make money, just not as much for the rest of 06 and part of 07. then toward this time next year, they will be just cutting thier losses as low as they can as they get out of property purchased for development in the past couple of years. it is a numbers game so if they make two bucks here and take a loss of one buck over there, they are still ahead by one buck. as for the morons who bought from them at the peak in 04 and 05? you pays your money and you takes your chances - too bad! enjoy your "investment" - you just bought your own prison cell for the next few years (or more).
Well after seeing all these ads on HP I wanted to see for myself what bargains were out there. Guess what, NONE! The ads say UP TO $100,000. To get the upper end you have to head toward a million dollar house.
Most of the builders I checked in with in Phoenix were giving in incentives about 7% of the price of the house, which by the way is still 30-40% higher than that same house was sold for by those builders in 2000-2003.
We purchased a Pulte home early in 2006 with a promised delivery date of Fall of 2006. Now, Pulte informs us that our home will not be built until the Fall of 2007.
AND they refuse to return our deposit!!
Hellllllllllloooooooooo
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