When you said "sell out quick", I think you meant "Pardee has buyers lined up for all of the lots in the phase".
Whether these buyers will/can follow through when the homes are built is a different matter.
Now that most lenders are shying away from exotic mortgages & that jumbo loans are more difficult to qualify for, I would expect a good percentage of these buyers will not be able to close escrow 6 months from now.
By then, Pardee will have to find away to sell those houses & you'll have more negotiating power.
I am puzzled on how quickly they are selling in this down market
It's perception vs. reality.
Perception: housing look hot
Reality: many buyers will not get the loans they need. They just haven't realize it yet.
