4S Ranch–Builders not negotiating

[SD Realtor]

Raymond this is very true. Keeping the sales price is paramount for builders because of the pricing for subsequent phases. Not to mention the fact that previous phase buyers would not be to happy on immediate depreciation. Upgrades, freebies, and all other sorts of closing costs incentives are the most common lines of defense. Similarly this is the same reason why when you go to a developer without an agent, and ask the developer to reduce the price by what they would pay an agent, they will not do it.

SD Realtor

[civrealtor]

Is Chanteclair becoming so desperate? I recently received a letter from them about a new special FHA loan program which contains the following points:
1. New load limit of $697,500
2. No Minimum FICO score
3. No set income limits
4. Down payment assistance program.

Doesn’t this look familiar to you guys? Isn’t this country having enough problem with previous reckless loan practices? What is this FHA loan program trying to do? Creating more bad loans? I am really confused here. Anyone can explain a little bit here for me?

[civrealtor]

Is Chanteclair becoming so desperate? I recently received a letter from them about a new special FHA loan program which contains the following points:
1. New load limit of $697,500
2. No Minimum FICO score
3. No set income limits
4. Down payment assistance program.

Doesn’t this look familiar to you guys? Isn’t this country having enough problem with previous reckless loan practices? What is this FHA loan program trying to do? Creating more bad loans? I am really confused here. Anyone can explain a little bit here for me?

[civrealtor]

Is Chanteclair becoming so desperate? I recently received a letter from them about a new special FHA loan program which contains the following points:
1. New load limit of $697,500
2. No Minimum FICO score
3. No set income limits
4. Down payment assistance program.

Doesn’t this look familiar to you guys? Isn’t this country having enough problem with previous reckless loan practices? What is this FHA loan program trying to do? Creating more bad loans? I am really confused here. Anyone can explain a little bit here for me?

[civrealtor]

Is Chanteclair becoming so desperate? I recently received a letter from them about a new special FHA loan program which contains the following points:
1. New load limit of $697,500
2. No Minimum FICO score
3. No set income limits
4. Down payment assistance program.

Doesn’t this look familiar to you guys? Isn’t this country having enough problem with previous reckless loan practices? What is this FHA loan program trying to do? Creating more bad loans? I am really confused here. Anyone can explain a little bit here for me?

[civrealtor]

Is Chanteclair becoming so desperate? I recently received a letter from them about a new special FHA loan program which contains the following points:
1. New load limit of $697,500
2. No Minimum FICO score
3. No set income limits
4. Down payment assistance program.

Doesn’t this look familiar to you guys? Isn’t this country having enough problem with previous reckless loan practices? What is this FHA loan program trying to do? Creating more bad loans? I am really confused here. Anyone can explain a little bit here for me?

[SDEngineer]

Well, the FHA does require full-doc of income and reasonable debt ratios (I believe they’re at 29/41 right now), so it’s hard to compare them to the liar loans that most were using to buy beyond their means. While there’s no set income limit to use a FHA loan, to get the $697500 loan, the buyers would have to be able to document around 230K a year in earnings, without excessive debt on top of that.

I think the value increase was a bad idea on the FHA’s part (since their intended purpose was to help first-time buyers, hence the low down requirements), mostly because, even in San Diego, at least now (though maybe not in 2005/2006) you can get a starter house for their max previous (about 363K). I doubt many people would consider a 700K house a “starter” house.

[SDEngineer]

Well, the FHA does require full-doc of income and reasonable debt ratios (I believe they’re at 29/41 right now), so it’s hard to compare them to the liar loans that most were using to buy beyond their means. While there’s no set income limit to use a FHA loan, to get the $697500 loan, the buyers would have to be able to document around 230K a year in earnings, without excessive debt on top of that.

I think the value increase was a bad idea on the FHA’s part (since their intended purpose was to help first-time buyers, hence the low down requirements), mostly because, even in San Diego, at least now (though maybe not in 2005/2006) you can get a starter house for their max previous (about 363K). I doubt many people would consider a 700K house a “starter” house.

[SDEngineer]

Well, the FHA does require full-doc of income and reasonable debt ratios (I believe they’re at 29/41 right now), so it’s hard to compare them to the liar loans that most were using to buy beyond their means. While there’s no set income limit to use a FHA loan, to get the $697500 loan, the buyers would have to be able to document around 230K a year in earnings, without excessive debt on top of that.

I think the value increase was a bad idea on the FHA’s part (since their intended purpose was to help first-time buyers, hence the low down requirements), mostly because, even in San Diego, at least now (though maybe not in 2005/2006) you can get a starter house for their max previous (about 363K). I doubt many people would consider a 700K house a “starter” house.

[SDEngineer]

Well, the FHA does require full-doc of income and reasonable debt ratios (I believe they’re at 29/41 right now), so it’s hard to compare them to the liar loans that most were using to buy beyond their means. While there’s no set income limit to use a FHA loan, to get the $697500 loan, the buyers would have to be able to document around 230K a year in earnings, without excessive debt on top of that.

I think the value increase was a bad idea on the FHA’s part (since their intended purpose was to help first-time buyers, hence the low down requirements), mostly because, even in San Diego, at least now (though maybe not in 2005/2006) you can get a starter house for their max previous (about 363K). I doubt many people would consider a 700K house a “starter” house.

[SDEngineer]

Well, the FHA does require full-doc of income and reasonable debt ratios (I believe they’re at 29/41 right now), so it’s hard to compare them to the liar loans that most were using to buy beyond their means. While there’s no set income limit to use a FHA loan, to get the $697500 loan, the buyers would have to be able to document around 230K a year in earnings, without excessive debt on top of that.

I think the value increase was a bad idea on the FHA’s part (since their intended purpose was to help first-time buyers, hence the low down requirements), mostly because, even in San Diego, at least now (though maybe not in 2005/2006) you can get a starter house for their max previous (about 363K). I doubt many people would consider a 700K house a “starter” house.

[robyns_song]

For those of you intersted, we stopped by Silhouette today and picked up their price list:

Explorer (residence one) 2559-2691 sq ft: $661,990
Surfer (residence two) 3070-3213: $702,990
Dreamer (residence three) 3185-3356 sq ft: $725,990 (anticipated release amount–plan 3 is not available right now)

The sales lady stated that there were 6 homes available since the October release and they expect this phase to be completed soon. There are a total of 9 phases–they are currently on phase 5. The sales lady said the “business plan” was to complete all nine phases by next June…without a price reduction (?). We’ll see what happens…

[robyns_song]

For those of you intersted, we stopped by Silhouette today and picked up their price list:

Explorer (residence one) 2559-2691 sq ft: $661,990
Surfer (residence two) 3070-3213: $702,990
Dreamer (residence three) 3185-3356 sq ft: $725,990 (anticipated release amount–plan 3 is not available right now)

The sales lady stated that there were 6 homes available since the October release and they expect this phase to be completed soon. There are a total of 9 phases–they are currently on phase 5. The sales lady said the “business plan” was to complete all nine phases by next June…without a price reduction (?). We’ll see what happens…

[robyns_song]

For those of you intersted, we stopped by Silhouette today and picked up their price list:

Explorer (residence one) 2559-2691 sq ft: $661,990
Surfer (residence two) 3070-3213: $702,990
Dreamer (residence three) 3185-3356 sq ft: $725,990 (anticipated release amount–plan 3 is not available right now)

The sales lady stated that there were 6 homes available since the October release and they expect this phase to be completed soon. There are a total of 9 phases–they are currently on phase 5. The sales lady said the “business plan” was to complete all nine phases by next June…without a price reduction (?). We’ll see what happens…

[robyns_song]

For those of you intersted, we stopped by Silhouette today and picked up their price list:

Explorer (residence one) 2559-2691 sq ft: $661,990
Surfer (residence two) 3070-3213: $702,990
Dreamer (residence three) 3185-3356 sq ft: $725,990 (anticipated release amount–plan 3 is not available right now)

The sales lady stated that there were 6 homes available since the October release and they expect this phase to be completed soon. There are a total of 9 phases–they are currently on phase 5. The sales lady said the “business plan” was to complete all nine phases by next June…without a price reduction (?). We’ll see what happens…

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