37% Price Drop in 4S Ranch –3000+ sq ft homes

[Anonymous]

I saw the inside of this house and got some info. There is already an offer over $800K, probably around $850K. Thing is, it is trashed! All the appliances are ripped out. Holes in the ceilings where speakers used to be. Wires hanging out of walls. Landscaping all dead.

[Bugs]

For the price to reach $450K there should be no buyers in $500-550K price range. I think there are a couple of dozen such buyers on this board alone.

I originally said “closer to $150 than $200”, so once it gets to $174 I’m golden.

A year ago we weren’t talking about the collapse of the secondary market for mortgage paper or 30% price decreases in this county or $5/gallon gasoline, but it all happened anyway. We might be in the 5th inning of this game, but it’s a double header and we have a long ways to go yet.

Besides, I don’t think the regional pricing structure will decline to that point without mortgage interest rates going up. That means that people who are $600k buyers now may only be able to swing $400k purchases then. A $360,000 loan at 9% is almost $2,900/month, and that’s without taxes, insurance, maintenance, etc. Even now those homes aren’t renting for $3,000/month.

It can happen.

[Bugs]

For the price to reach $450K there should be no buyers in $500-550K price range. I think there are a couple of dozen such buyers on this board alone.

I originally said “closer to $150 than $200”, so once it gets to $174 I’m golden.

A year ago we weren’t talking about the collapse of the secondary market for mortgage paper or 30% price decreases in this county or $5/gallon gasoline, but it all happened anyway. We might be in the 5th inning of this game, but it’s a double header and we have a long ways to go yet.

Besides, I don’t think the regional pricing structure will decline to that point without mortgage interest rates going up. That means that people who are $600k buyers now may only be able to swing $400k purchases then. A $360,000 loan at 9% is almost $2,900/month, and that’s without taxes, insurance, maintenance, etc. Even now those homes aren’t renting for $3,000/month.

It can happen.

[Bugs]

For the price to reach $450K there should be no buyers in $500-550K price range. I think there are a couple of dozen such buyers on this board alone.

I originally said “closer to $150 than $200”, so once it gets to $174 I’m golden.

A year ago we weren’t talking about the collapse of the secondary market for mortgage paper or 30% price decreases in this county or $5/gallon gasoline, but it all happened anyway. We might be in the 5th inning of this game, but it’s a double header and we have a long ways to go yet.

Besides, I don’t think the regional pricing structure will decline to that point without mortgage interest rates going up. That means that people who are $600k buyers now may only be able to swing $400k purchases then. A $360,000 loan at 9% is almost $2,900/month, and that’s without taxes, insurance, maintenance, etc. Even now those homes aren’t renting for $3,000/month.

It can happen.

[Bugs]

For the price to reach $450K there should be no buyers in $500-550K price range. I think there are a couple of dozen such buyers on this board alone.

I originally said “closer to $150 than $200”, so once it gets to $174 I’m golden.

A year ago we weren’t talking about the collapse of the secondary market for mortgage paper or 30% price decreases in this county or $5/gallon gasoline, but it all happened anyway. We might be in the 5th inning of this game, but it’s a double header and we have a long ways to go yet.

Besides, I don’t think the regional pricing structure will decline to that point without mortgage interest rates going up. That means that people who are $600k buyers now may only be able to swing $400k purchases then. A $360,000 loan at 9% is almost $2,900/month, and that’s without taxes, insurance, maintenance, etc. Even now those homes aren’t renting for $3,000/month.

It can happen.

[Bugs]

For the price to reach $450K there should be no buyers in $500-550K price range. I think there are a couple of dozen such buyers on this board alone.

I originally said “closer to $150 than $200”, so once it gets to $174 I’m golden.

A year ago we weren’t talking about the collapse of the secondary market for mortgage paper or 30% price decreases in this county or $5/gallon gasoline, but it all happened anyway. We might be in the 5th inning of this game, but it’s a double header and we have a long ways to go yet.

Besides, I don’t think the regional pricing structure will decline to that point without mortgage interest rates going up. That means that people who are $600k buyers now may only be able to swing $400k purchases then. A $360,000 loan at 9% is almost $2,900/month, and that’s without taxes, insurance, maintenance, etc. Even now those homes aren’t renting for $3,000/month.

It can happen.

[oceanbreeze]

[quote=Bugs]That’s only 10% more off this list price. Sub $200/SF pricing is in the bag. I’m thinking it’ll settle out closer to $150/SF than $200/SF.

[/quote]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.

[oceanbreeze]

[quote=Bugs]That’s only 10% more off this list price. Sub $200/SF pricing is in the bag. I’m thinking it’ll settle out closer to $150/SF than $200/SF.

[/quote]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.

[oceanbreeze]

[quote=Bugs]That’s only 10% more off this list price. Sub $200/SF pricing is in the bag. I’m thinking it’ll settle out closer to $150/SF than $200/SF.

[/quote]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.

[oceanbreeze]

[quote=Bugs]That’s only 10% more off this list price. Sub $200/SF pricing is in the bag. I’m thinking it’ll settle out closer to $150/SF than $200/SF.

[/quote]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.

[oceanbreeze]

[quote=Bugs]That’s only 10% more off this list price. Sub $200/SF pricing is in the bag. I’m thinking it’ll settle out closer to $150/SF than $200/SF.

[/quote]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.

[an]

[quote=maoing]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.[/quote]
Builders are not the only one that’s serious in this market. I think banks are actually even more serious than the builders if you don’t count in incentives. Here are 3 places that’s listing under $200/sq-ft:
Linky 1
Linky 2
Linky 3

There are also 7 houses in 4S Ranch that’s priced between $200-220/sq-ft.

[an]

[quote=maoing]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.[/quote]
Builders are not the only one that’s serious in this market. I think banks are actually even more serious than the builders if you don’t count in incentives. Here are 3 places that’s listing under $200/sq-ft:
Linky 1
Linky 2
Linky 3

There are also 7 houses in 4S Ranch that’s priced between $200-220/sq-ft.

[an]

[quote=maoing]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.[/quote]
Builders are not the only one that’s serious in this market. I think banks are actually even more serious than the builders if you don’t count in incentives. Here are 3 places that’s listing under $200/sq-ft:
Linky 1
Linky 2
Linky 3

There are also 7 houses in 4S Ranch that’s priced between $200-220/sq-ft.

[an]

[quote=maoing]
Check around the SFH developments in 4S, Chanteclair just sold out he Phase 3A release, Pienza only has 4 homes left, Silouette only has 1 left in Phase 5 release. The Maybeck may have more before it doesn’t have backyard. So I would say the support for $220/sft in 4S is strong till the end of the 2008 because it looks there won’t have to many new home inventories to drag the price.[/quote]
Builders are not the only one that’s serious in this market. I think banks are actually even more serious than the builders if you don’t count in incentives. Here are 3 places that’s listing under $200/sq-ft:
Linky 1
Linky 2
Linky 3

There are also 7 houses in 4S Ranch that’s priced between $200-220/sq-ft.

[Author]

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