One thing I want to remind it’s risky to reserve a new home which will finish building 6 months later or more during market downturn. First, you’ll potentially face price cut down before you close the home; Second, in the 2nd half of this year, the interest rate could go up, the mortgage calculated right now might now work in the future.

In market downturn, the release price must go down or keep flat, there is no way to go up.

Among 4 builders in 4S, Pienza, Silhouettee and Maybeck all are actively to make releases, and I can see they are going to sell model home by end of 2009. The only odd is Chanteclair, which still has 3 unreleased in total 5 releases. The last phase 2 release was back to June 2007, right now we are in May 2008, we still didn’t see phase 3 release yet. Anybody can speculate what Chanteclair wants to do? Hold all the land until the next housing bubble?