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SD Realtor.
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June 19, 2007 at 2:20 AM #9334June 19, 2007 at 10:16 AM #60413
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ParticipantYes, it’s true that the builders are able to sell home.
Now, that’s largely b/c they reduced prices to attract buyers. For every new house sold, there is a re-sale house not being sold. In this market, the builders are simply stealing sales away from the re-sale market.
The fact that builders are able to sell-out a phase is NOT because of strong demand. It is because of their pricing strategy.
Most people don’t understand this. When they see builders selling well, they think: the market has reached the bottom, let’s buy 🙂
June 19, 2007 at 10:16 AM #60446ParticipantYes, it’s true that the builders are able to sell home.
Now, that’s largely b/c they reduced prices to attract buyers. For every new house sold, there is a re-sale house not being sold. In this market, the builders are simply stealing sales away from the re-sale market.
The fact that builders are able to sell-out a phase is NOT because of strong demand. It is because of their pricing strategy.
Most people don’t understand this. When they see builders selling well, they think: the market has reached the bottom, let’s buy 🙂
June 19, 2007 at 10:28 AM #60383Alex_angel
Participantthere are still a lot of people selling old homes they bought for 2x and even 3x profit and running to certain areas to buy a new home. The inventory of new homes is dwindling as they are close to finishing most of that master planned community. On the other hand Del Sur and Pacific Highlands ranch has a ton of land they want to build on. Give yourself time and wait a year or so when you can get a home in the PHR in Carmel Valley for the same price and you’ll save a ton on your electrical bill from not having to run your AC unit so much.
June 19, 2007 at 10:28 AM #60416Participantthere are still a lot of people selling old homes they bought for 2x and even 3x profit and running to certain areas to buy a new home. The inventory of new homes is dwindling as they are close to finishing most of that master planned community. On the other hand Del Sur and Pacific Highlands ranch has a ton of land they want to build on. Give yourself time and wait a year or so when you can get a home in the PHR in Carmel Valley for the same price and you’ll save a ton on your electrical bill from not having to run your AC unit so much.
June 19, 2007 at 10:29 AM #60423Participantalso new homes will always be attractive to buyers. Think about this. In about 3 more years there will be no such thing as a new home in San Diego since they won’t have anywhere else to build.
June 19, 2007 at 10:29 AM #60456Participantalso new homes will always be attractive to buyers. Think about this. In about 3 more years there will be no such thing as a new home in San Diego since they won’t have anywhere else to build.
June 19, 2007 at 10:41 AM #60427sdcellar
ParticipantAlex– Would you like to bet money on that? (the more the better for me!)
June 19, 2007 at 10:41 AM #60460ParticipantAlex– Would you like to bet money on that? (the more the better for me!)
June 19, 2007 at 10:48 AM #60433an
Participantsdcellar, can you get in on this bet too? :-).
New homes are selling because it’s at a discount compare to resale. Builders get it and they’ll sell at what ever market price is at the time. That’s usually about 10-20% less than comparable resale.
June 19, 2007 at 10:48 AM #60466Participantsdcellar, can you get in on this bet too? :-).
New homes are selling because it’s at a discount compare to resale. Builders get it and they’ll sell at what ever market price is at the time. That’s usually about 10-20% less than comparable resale.
June 19, 2007 at 10:51 AM #60435ParticipantThere’s a shiny new Maybeck with upgrades on the market right now listed at $716,665. It’s 125 square feet less than you seem to need, but you should buy it now before you can get it for something in the sixes.
I heard they thought they could get eight for it, but they wanted to be nice guys…
June 19, 2007 at 10:51 AM #60468ParticipantThere’s a shiny new Maybeck with upgrades on the market right now listed at $716,665. It’s 125 square feet less than you seem to need, but you should buy it now before you can get it for something in the sixes.
I heard they thought they could get eight for it, but they wanted to be nice guys…
June 19, 2007 at 11:12 AM #60445ParticipantI have the feeling that:
Deep down inside, schizo2buyORnot is afraid that the prevailing sentiment at Piggington may be correct. That’s because schizo2buyORnot probably realizes that many of the people at Piggington know a lot about real estate.
schizo2buyORnot reminds me of 23109VC in Temecula. He kept insisting that prices will not fall much & pulled the trigger. As soon as he bought his house, someone else got a much better deal for a nearby house 🙂
June 19, 2007 at 11:12 AM #60478ParticipantI have the feeling that:
Deep down inside, schizo2buyORnot is afraid that the prevailing sentiment at Piggington may be correct. That’s because schizo2buyORnot probably realizes that many of the people at Piggington know a lot about real estate.
schizo2buyORnot reminds me of 23109VC in Temecula. He kept insisting that prices will not fall much & pulled the trigger. As soon as he bought his house, someone else got a much better deal for a nearby house 🙂
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