Great Info Bugs,
To summarize:
Everythings Included from Lennar doesnt mean you cant spend more than these nicely appointed homes come with. Flooring which isnt included can easily vary by $50K or more.
The highest sales were models which were very well appointed and are likely outliers pricewise as they are in most cases.
The real decline in these homes based upon builder concessions looks to be about $70,000 which is a roughly 10% discount. Additional financing concessions and free upgrades could push this up higher and its not out of the question for the discount to be closer to $100,000.
As a point of comparison, I have seen 5 to 10% declines in the value of many resale homes (particularly those sold at the peak of the frenzy Feb 2004 – May 2004) also so this seems to be on target with what is going on around here and perhaps slightly ahead of the curve.
