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michael.
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January 10, 2008 at 11:00 AM #11452January 10, 2008 at 11:08 AM #133366
waterboy
ParticipantThat is nice to see if you are waiting on the sidelines to purchase, but it doesn’t mean 60% drop for the avg buyer. Morgan Stanley purchased a large block of business for 40 cents on the dollar, but only because they believe they can get 60 cents or more in the future. Hopefully the avg buyer of new home construction will see those 40% drops soon
January 10, 2008 at 11:08 AM #133553ParticipantThat is nice to see if you are waiting on the sidelines to purchase, but it doesn’t mean 60% drop for the avg buyer. Morgan Stanley purchased a large block of business for 40 cents on the dollar, but only because they believe they can get 60 cents or more in the future. Hopefully the avg buyer of new home construction will see those 40% drops soon
January 10, 2008 at 11:08 AM #133567ParticipantThat is nice to see if you are waiting on the sidelines to purchase, but it doesn’t mean 60% drop for the avg buyer. Morgan Stanley purchased a large block of business for 40 cents on the dollar, but only because they believe they can get 60 cents or more in the future. Hopefully the avg buyer of new home construction will see those 40% drops soon
January 10, 2008 at 11:08 AM #133621ParticipantThat is nice to see if you are waiting on the sidelines to purchase, but it doesn’t mean 60% drop for the avg buyer. Morgan Stanley purchased a large block of business for 40 cents on the dollar, but only because they believe they can get 60 cents or more in the future. Hopefully the avg buyer of new home construction will see those 40% drops soon
January 10, 2008 at 11:08 AM #133659ParticipantThat is nice to see if you are waiting on the sidelines to purchase, but it doesn’t mean 60% drop for the avg buyer. Morgan Stanley purchased a large block of business for 40 cents on the dollar, but only because they believe they can get 60 cents or more in the future. Hopefully the avg buyer of new home construction will see those 40% drops soon
January 10, 2008 at 12:19 PM #133417kev374
ParticipantThey are asking $425,000 for a 1100sqft condo in Irvine. That’s $386/sqft, way too expensive and definitely not a 60% drop at all. In addition this community has Mello Roos and some other garbage taxes.
January 10, 2008 at 12:19 PM #133605ParticipantThey are asking $425,000 for a 1100sqft condo in Irvine. That’s $386/sqft, way too expensive and definitely not a 60% drop at all. In addition this community has Mello Roos and some other garbage taxes.
January 10, 2008 at 12:19 PM #133619ParticipantThey are asking $425,000 for a 1100sqft condo in Irvine. That’s $386/sqft, way too expensive and definitely not a 60% drop at all. In addition this community has Mello Roos and some other garbage taxes.
January 10, 2008 at 12:19 PM #133711ParticipantThey are asking $425,000 for a 1100sqft condo in Irvine. That’s $386/sqft, way too expensive and definitely not a 60% drop at all. In addition this community has Mello Roos and some other garbage taxes.
January 10, 2008 at 12:19 PM #133674ParticipantThey are asking $425,000 for a 1100sqft condo in Irvine. That’s $386/sqft, way too expensive and definitely not a 60% drop at all. In addition this community has Mello Roos and some other garbage taxes.
January 10, 2008 at 1:37 PM #133656michael
ParticipantPer the article…
“I could say I bought for 50 cents on the dollar of last year’s price, because I did, but I think that’s a little bit of hyperbole because last year’s price was last year,” Gottesdiener said.
This purchase demonstrates an element of speculation which says that current “market prices” are higher than the purchase price. Much the same way that BofA thought that a stake in countrywide was worth more of their original $17 per share stake. “The market” proved them wrong.
This could backfire… or it could work out. One thing is for sure, sales of 50% discounts from the original prices would prove to be a 25% return for the new owners. That provides a lot of wiggle room that existing homeowners just don’t have. New homes will lead the way!
January 10, 2008 at 1:37 PM #133761ParticipantPer the article…
“I could say I bought for 50 cents on the dollar of last year’s price, because I did, but I think that’s a little bit of hyperbole because last year’s price was last year,” Gottesdiener said.
This purchase demonstrates an element of speculation which says that current “market prices” are higher than the purchase price. Much the same way that BofA thought that a stake in countrywide was worth more of their original $17 per share stake. “The market” proved them wrong.
This could backfire… or it could work out. One thing is for sure, sales of 50% discounts from the original prices would prove to be a 25% return for the new owners. That provides a lot of wiggle room that existing homeowners just don’t have. New homes will lead the way!
January 10, 2008 at 1:37 PM #133724ParticipantPer the article…
“I could say I bought for 50 cents on the dollar of last year’s price, because I did, but I think that’s a little bit of hyperbole because last year’s price was last year,” Gottesdiener said.
This purchase demonstrates an element of speculation which says that current “market prices” are higher than the purchase price. Much the same way that BofA thought that a stake in countrywide was worth more of their original $17 per share stake. “The market” proved them wrong.
This could backfire… or it could work out. One thing is for sure, sales of 50% discounts from the original prices would prove to be a 25% return for the new owners. That provides a lot of wiggle room that existing homeowners just don’t have. New homes will lead the way!
January 10, 2008 at 1:37 PM #133670ParticipantPer the article…
“I could say I bought for 50 cents on the dollar of last year’s price, because I did, but I think that’s a little bit of hyperbole because last year’s price was last year,” Gottesdiener said.
This purchase demonstrates an element of speculation which says that current “market prices” are higher than the purchase price. Much the same way that BofA thought that a stake in countrywide was worth more of their original $17 per share stake. “The market” proved them wrong.
This could backfire… or it could work out. One thing is for sure, sales of 50% discounts from the original prices would prove to be a 25% return for the new owners. That provides a lot of wiggle room that existing homeowners just don’t have. New homes will lead the way!
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