1) call a local homebuilder
2) ask about model homes and specs
3) inquire about pricing and incentives
4) inform fu&ked builder that you'll be waiting for a better deal - "something in the 50% off range"
5) report findings here
Enjoy!!!!!!!!!
October 18, 2006
HousingPanic mandatory class project
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35 comments:
1) call a local homebuilder
I called Mercedes Homes about this little gem. The office was still open which was a surprise.
2) ask about model homes and specs
I asked for specifics and discussed items I could see on the web site.
3) inquire about pricing and incentives
I was informed that there was a 50k off status to move the house. I asked about upgrades and she said that it was "fully upgraded".
4) inform fu&ked builder that you'll be waiting for a better deal - "something in the 50% off range"
I told them I wanted it for less than 200k.
5) report findings here
The sales person said to come on into the office and we can discuss pricing. 200k would be to low, but they said that we could probably work out a deal. There has been "a lot of demand" in this community, but she was "authorized" to go lower than 50k off. She wanted my contact information and I said I would call her back. I realized I made a big mistake by using my cell phone. I'll probably get a call back tomorrow. If so, I'll tell here I'm waiting for a better deal.
In San Diego
He said, Good Luck! Laughed and said, you serious?
She called back and left a message on my cell saying she could meet me this Saturday. I'm going to go. My wife and I were going to go to some open houses this weekend anyway (don't worry, no intent to buy this soon). Might as well see this one...
Just about everyone that called into 620 AM KTAR in Phoenix this after noon when Ted Simons did a segment on the housing market said that the market will make a rebound in the spring after builders sell off some inventory. One man who said he was a mortgage broker and wife a realtor said that they are buying up inventory as fast as they can to get ready for the appreciation this spring. Ted Simons replied ;
"there must be people flying off the road right now listening to you say that because NOTHING is selling right now. For sale signs are becoming fixed parts of the landscaping in my neighborhood.I speak to realtors that have not moved inventory in months"
Another caller said;
"if no one is even looking at your home , fire the realtor. If there is a stampede in your home and no one is buying YOU are the problem. Bottom line is PRICES ARE TO HIGH !"
Anyway , it is getting very painfully obvious. People who feel they DESERVE their asking price cause someone got that for their house a few months ago are getting freakin pissed off.
As for myself , I look forward to the day when home prices come back to their fundamental and affordable levels. It WILL happen. Everything reverts back to the trend line as Charles Hugh Smith said over at Oftwominds.com (my other favorite blog.)
Dam you Keith,
You stole my idea- from my post today, but it is so much fun.
Ryland Homes is up over 5% in the after hours. Look for all the homies to rn a good rally for the week.
Why?
Ryland was able to beat estimates because their homes sold for more money last quarter than they did last year!!!!!
Go play with yourself monkey boy. You lost.
housing bust over. Read todyas CNN/Money
bogus prices picked up by the lazy msm
forgot those pesky incentives again, eh?
Had to go to the registry of deeds this morning to register a piece of property from a tax title.
Long story short for the last 4 years this was an hour and a half wait to register a peice of property...I was in and out of there in 10 minutes.
I asked the women who was helping me, "boy this palce is dead"
She looked at me and said No bullshit..."Housing is to"
but hey the stock market is preparing for a crash...
keep pumping the Numbers so when it does crash the impact won't look so bad.
called local builders.....no answer! To busy out LOOKING for work!
called local builders.....no answer! To busy out LOOKING for work!
Here's what CNN/Money actually said:
Still, the pace of building permits fell, coming in at a rate of 1.62 million, down from 1.73 million in August. Economists were looking for this sign of builder confidence in the market to barely edge lower.
The disconnect between the two numbers surprised David Seiders, chief economist with the National Association of Home Builders (NAHB), who said builders seemed to be working through a backlog of home permits they held for properties where they had not started construction.
Seiders said that a pick-up in building is not necessarily a positive for the market, which has seen the inventory of completed but unsold homes increase to record levels, pushing down prices and forcing builders to offer incentives to sell homes.
"If both permits and starts were up I'd be scared because I think there are still inventory issues that we need to work through," he said. "I hope the bounce in starts is a temporary phenomenon. I think it's inevitable that starts will be down in October."
Why would anybody in their right mind continue building if the sales are going down???
Who's the 1st to go Bankrupt?
I think WCI or KBH.
It's neck and neck.
Called KB Home in Q Creek, AZ. He was as nice as cherry pie. A TOTALLY different treatment than 12 months ago when they would not even return phone calls. If I did get someone on the phone, they ususally were as nasty and rude as they could be. I was shocked even though I've been reading this and many other blogs.
Toll
David in JAX said...
1) call a local homebuilder
I called Mercedes Homes about this little gem. The office was still open which was a surprise.
__________________-
That house in Chicago would be $800,000+
Numbers don't lie :
In my area from melissa data sales:
60193
month total sales median price
09-2006 92 $262,000.00
09-2005 135 $258,000.00
60194
09-2006 59 $258,000.00
09-2005 133 $218,000.00
60133
09-2006 68 $220,000.00
09-2005 103 $222,000.00
60103
09-2006 61 $321,000.00
09-2005 112 $280,000.00
As you see prices are slightly up but the volume is 30-40 % down.
Last suckers are getting sucked in right now.
Dead Cat Bounce.
Someone call drhortonhawaii and ask about pricing..these guys are crazy..500-600k for houses.1400 sq ft on 7500 sqft of land. Tell them you'll buy it for 250k.
Centex and BK Homes!
Ryland Homes is up over 5% in the after hours. Look for all the homies to rn a good rally for the week.
Why?
Ryland was able to beat estimates because their homes sold for more money last quarter than they did last year!!!!!
Go play with yourself monkey boy. You lost.
Dogcrap aka Dmitri, the only thing getting lost around here is your sanity and your credibility. You have been running blogs that focus on sports gambling and penny stocks, and that "housing boom" blog -- LOL! Look at all the comments on there! Ha ha ha ha!
And you ran Warren Buffett's name through the mud just weeks before he gave all his money away to save poor people in Africa! Now THAT'S a loser! Let me guess...now you're going to say that Mother Teresa was promiscuous in her old age? Ha ha ha ha!
And Ryland Homes is up after-hours because investors have been so pessimistic about homebuilders that they get all excited when these companies might actually keep making money. Ryland's profits are still down 25% YOY. Can't say I am surprised that you would look only at the top line, which is about as manipulated as those penny stocks you love so much.
Ryland Group Inc. after the closing bell Wednesday said third-quarter net income fell over 25% from a year earlier, reflecting continuing weakness in the U.S. housing market.
david in jax:
if you think you've really gotten a bargain on a 200k off but not ready to buy, go for it and flip it. who would think that we're just doing this for fun, but might turn out to be a money making deal.
KB Homes won't be the 1st to go belly-up.
They're huge.
Wow that is the singularly worst piece of advice I've heard in a long time.
If he buys that house, he'll be buying in a falling market.
The ONLY reason to buy in a falling market is because you 1) can trully afford the house no matter WHAT happens and 2) you plan to live there FOREVER.
5 years ago that 200,000 was selling, brand new, without the rusting pipes, heat rotting wires, and leaky roof for 87,000, you may be getting a deal, but you just more than doubled the property tax on most neighbor hoods, are you a goverenment shill!, if so whats the price on border nomans land, might like a guarantee on national peoples, land ownership sovernity ownership rights, another war? cheap city?
sorry the panic has addled my brain
today: "KB Homes won't be the 1st to go belly-up.They're huge."
2001: "enron and worldcom won't go bellyup, they're huge"
humans are just so stupid some times aren't they?
In comparison to other BK's KB Homes is small. KB Homes is worth about 3 Billion. Worldcom was around 100 Billion.
Let's face it. All builders are having a cash crunch. What's hurting KB is that bought too much land in the last 3 years. They own hundreds of acres of raw land here in Sacramento right next to 3 communites with about 40 inventory homes. That's not counting their lots that are yet to be built on.
david in jax:
if you think you've really gotten a bargain on a 200k off but not ready to buy, go for it and flip it. who would think that we're just doing this for fun, but might turn out to be a money making deal.
I really don't think that the house is a bargain at 200k and I don't think the sales person would agree to 200k. She is trying to get me to go in and agree to 60-70k off. I also have no interest in flipping houses. With everything I know about today's RE market, there is no way that I would risk becoming another statistic.
BB said...
KB Homes won't be the 1st to go belly-up.
They're huge.
That is WHY they will go under.
This blog has become the most interesting & informed blog while having a lot of fun than any other I have visited.
They hung up on me half way through the conversation after I asked if I can expect another $30k reduction after the previous $30k reduction over the past 6 months.
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