skasavaraju, wantobuy made a very good point. The purchase contracts you sign with the developers are pretty much air tight. They are not filled with contingencies like standard contracts used for resale homes. I do not believe you will be able to get your deposit back simply because you are changing your mind.
Please do not confuse my statement with saying you should follow through with the purchase. I know different people buy for different reasons… I also am stumped as to how the new home sales have been able to hold up, but they have much to the chagrin of alot of bears.
Personally, the 4s Ranch housing is not anything that turns me on. Regardless, I do believe that one of two things will happen in 4s. Either the new homes offered by the developers will come down in price, OR there will be more distressed sellers there and maybe they will come to reality and try to undercut the developers. Either way time will tell and I do feel that in the long run the deposit you will lose will be regained by buying at a lower price IFF you have patience.
