I found out the other day from a friend that Pardee has completely sold out all of the phases they’ve released thus far. 10 phases so far I think, some of which are still just dirt lots. The next phase is being released at the end of March (about 8-10 homes). Of course the sales people are pumping the next phase as going to be priced higher and there’s a waiting list for the next release – blah, blah, blah.
My question is: Is this just a dead cat bounce being created by buyers that are trying to get a jump on a potential spring run? Any thoughts?
BTW – Of course I’d like nothing more than to squeeze Pardee for a big losss with a low ball offer they’d be forced to take. I think we are in for a very interesting October-December this year. I see prices coming down significantly and the sales offices of these home builders becoming a lot less cocky. But, I’ve been wrong before. I thought this was going to happen two years ago.
