Home › Forums › Closed Forums › Properties or Areas › 4S Ranch–Builders not negotiating
- This topic has 305 replies, 29 voices, and was last updated 16 years, 4 months ago by
Aecetia.
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February 19, 2008 at 6:09 PM #156255February 19, 2008 at 8:32 PM #155925
sandiego
ParticipantIf you are only putting down 20% you will need to get a loan. Therefore, your purchase is CONTINGENT on getting financing.
As Raybyrnes stated, come in with a pre-approved letter. Otherwise, you are a looky-lou.
The Public builders have already written down the value of the standing inventory. They don’t have the axe over their head as much as you think.
The smaller, private builders can’t drop prices willy-nilly. They have lenders and partners to answer to. I am not saying that they might not drop prices later in the year but they will need approval from their lenders and partners. At some point, the builder doesn’t have any skin in the game anymore and their equity is gone. They have no incentive to drop the price (unless they have personal guarantees to the lender).
San Diego doesn’t have the huge oversupply of new detached homes that they have in the Inland Empire. You can probably negotiate harder out there.
Downtown condos are obvioulsy overbuilt. I don’t know how they will unwind those.
February 19, 2008 at 8:32 PM #156210sandiego
ParticipantIf you are only putting down 20% you will need to get a loan. Therefore, your purchase is CONTINGENT on getting financing.
As Raybyrnes stated, come in with a pre-approved letter. Otherwise, you are a looky-lou.
The Public builders have already written down the value of the standing inventory. They don’t have the axe over their head as much as you think.
The smaller, private builders can’t drop prices willy-nilly. They have lenders and partners to answer to. I am not saying that they might not drop prices later in the year but they will need approval from their lenders and partners. At some point, the builder doesn’t have any skin in the game anymore and their equity is gone. They have no incentive to drop the price (unless they have personal guarantees to the lender).
San Diego doesn’t have the huge oversupply of new detached homes that they have in the Inland Empire. You can probably negotiate harder out there.
Downtown condos are obvioulsy overbuilt. I don’t know how they will unwind those.
February 19, 2008 at 8:32 PM #156212sandiego
ParticipantIf you are only putting down 20% you will need to get a loan. Therefore, your purchase is CONTINGENT on getting financing.
As Raybyrnes stated, come in with a pre-approved letter. Otherwise, you are a looky-lou.
The Public builders have already written down the value of the standing inventory. They don’t have the axe over their head as much as you think.
The smaller, private builders can’t drop prices willy-nilly. They have lenders and partners to answer to. I am not saying that they might not drop prices later in the year but they will need approval from their lenders and partners. At some point, the builder doesn’t have any skin in the game anymore and their equity is gone. They have no incentive to drop the price (unless they have personal guarantees to the lender).
San Diego doesn’t have the huge oversupply of new detached homes that they have in the Inland Empire. You can probably negotiate harder out there.
Downtown condos are obvioulsy overbuilt. I don’t know how they will unwind those.
February 19, 2008 at 8:32 PM #156230sandiego
ParticipantIf you are only putting down 20% you will need to get a loan. Therefore, your purchase is CONTINGENT on getting financing.
As Raybyrnes stated, come in with a pre-approved letter. Otherwise, you are a looky-lou.
The Public builders have already written down the value of the standing inventory. They don’t have the axe over their head as much as you think.
The smaller, private builders can’t drop prices willy-nilly. They have lenders and partners to answer to. I am not saying that they might not drop prices later in the year but they will need approval from their lenders and partners. At some point, the builder doesn’t have any skin in the game anymore and their equity is gone. They have no incentive to drop the price (unless they have personal guarantees to the lender).
San Diego doesn’t have the huge oversupply of new detached homes that they have in the Inland Empire. You can probably negotiate harder out there.
Downtown condos are obvioulsy overbuilt. I don’t know how they will unwind those.
February 19, 2008 at 8:32 PM #156303sandiego
ParticipantIf you are only putting down 20% you will need to get a loan. Therefore, your purchase is CONTINGENT on getting financing.
As Raybyrnes stated, come in with a pre-approved letter. Otherwise, you are a looky-lou.
The Public builders have already written down the value of the standing inventory. They don’t have the axe over their head as much as you think.
The smaller, private builders can’t drop prices willy-nilly. They have lenders and partners to answer to. I am not saying that they might not drop prices later in the year but they will need approval from their lenders and partners. At some point, the builder doesn’t have any skin in the game anymore and their equity is gone. They have no incentive to drop the price (unless they have personal guarantees to the lender).
San Diego doesn’t have the huge oversupply of new detached homes that they have in the Inland Empire. You can probably negotiate harder out there.
Downtown condos are obvioulsy overbuilt. I don’t know how they will unwind those.
February 19, 2008 at 8:39 PM #155940jpinpb
ParticipantI think it may have been somewhere on this board that I read people don’t HAVE to buy, but sometimes people HAVE to sell, something like that
If it’s becomes a stand off, who can last the longest?February 19, 2008 at 8:39 PM #156223jpinpb
ParticipantI think it may have been somewhere on this board that I read people don’t HAVE to buy, but sometimes people HAVE to sell, something like that
If it’s becomes a stand off, who can last the longest?February 19, 2008 at 8:39 PM #156227jpinpb
ParticipantI think it may have been somewhere on this board that I read people don’t HAVE to buy, but sometimes people HAVE to sell, something like that
If it’s becomes a stand off, who can last the longest?February 19, 2008 at 8:39 PM #156244jpinpb
ParticipantI think it may have been somewhere on this board that I read people don’t HAVE to buy, but sometimes people HAVE to sell, something like that
If it’s becomes a stand off, who can last the longest?February 19, 2008 at 8:39 PM #156318jpinpb
ParticipantI think it may have been somewhere on this board that I read people don’t HAVE to buy, but sometimes people HAVE to sell, something like that
If it’s becomes a stand off, who can last the longest?February 19, 2008 at 9:30 PM #1560204spotentialbuyer
ParticipantI agree with jpinpb. At this point it is a stand off. As for all the other suggestions about how qualified we are, etc…we are already preapproved with their lender…have more than enough in cash, assets, income, etc to qualify for a loan, the point is that SELLERS, whether it is a builder or a resell, have not reached the same conclusion that may on this board have….that real estate in San Diego is only declining in value….We have already decided that we WILL not buy unless we see more price drops.
February 19, 2008 at 9:30 PM #1563024spotentialbuyer
ParticipantI agree with jpinpb. At this point it is a stand off. As for all the other suggestions about how qualified we are, etc…we are already preapproved with their lender…have more than enough in cash, assets, income, etc to qualify for a loan, the point is that SELLERS, whether it is a builder or a resell, have not reached the same conclusion that may on this board have….that real estate in San Diego is only declining in value….We have already decided that we WILL not buy unless we see more price drops.
February 19, 2008 at 9:30 PM #1563064spotentialbuyer
ParticipantI agree with jpinpb. At this point it is a stand off. As for all the other suggestions about how qualified we are, etc…we are already preapproved with their lender…have more than enough in cash, assets, income, etc to qualify for a loan, the point is that SELLERS, whether it is a builder or a resell, have not reached the same conclusion that may on this board have….that real estate in San Diego is only declining in value….We have already decided that we WILL not buy unless we see more price drops.
February 19, 2008 at 9:30 PM #1563254spotentialbuyer
ParticipantI agree with jpinpb. At this point it is a stand off. As for all the other suggestions about how qualified we are, etc…we are already preapproved with their lender…have more than enough in cash, assets, income, etc to qualify for a loan, the point is that SELLERS, whether it is a builder or a resell, have not reached the same conclusion that may on this board have….that real estate in San Diego is only declining in value….We have already decided that we WILL not buy unless we see more price drops.
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