4S ranch–Pienza Jan release

[SD Realtor]

At this point I heavily agree with sdr and esmith. Indeed the data does not support a 3000 sf home going for 470k or some crazy amount of money in the near future. Unless there is a very large spike in unemployment or interest rates I don’t see it happening for a long time based on the raw data.

SD Realtor

[SD Realtor]

At this point I heavily agree with sdr and esmith. Indeed the data does not support a 3000 sf home going for 470k or some crazy amount of money in the near future. Unless there is a very large spike in unemployment or interest rates I don’t see it happening for a long time based on the raw data.

SD Realtor

[SD Realtor]

At this point I heavily agree with sdr and esmith. Indeed the data does not support a 3000 sf home going for 470k or some crazy amount of money in the near future. Unless there is a very large spike in unemployment or interest rates I don’t see it happening for a long time based on the raw data.

SD Realtor

[Eugene]

Suppose that prices do drop and you buy a house for 470k in a 2005 development that originally sold for 800k.

What will it be like living there?

Will there be a 100% resident turnover (foreclosures, short sales)?

Will this neighborhood get so blighted from foreclosures, neglect, and HOA fee shortfall, that you’ll be afraid to live there? Will some angry foreclosed guy torch his house after moving out, or worse?

Will your neighbors who bought at full price talk to you? Or will they throw eggs at your car when you can’t see it?

I guess my point is – be careful what you wish for.

[Eugene]

Suppose that prices do drop and you buy a house for 470k in a 2005 development that originally sold for 800k.

What will it be like living there?

Will there be a 100% resident turnover (foreclosures, short sales)?

Will this neighborhood get so blighted from foreclosures, neglect, and HOA fee shortfall, that you’ll be afraid to live there? Will some angry foreclosed guy torch his house after moving out, or worse?

Will your neighbors who bought at full price talk to you? Or will they throw eggs at your car when you can’t see it?

I guess my point is – be careful what you wish for.

[Eugene]

Suppose that prices do drop and you buy a house for 470k in a 2005 development that originally sold for 800k.

What will it be like living there?

Will there be a 100% resident turnover (foreclosures, short sales)?

Will this neighborhood get so blighted from foreclosures, neglect, and HOA fee shortfall, that you’ll be afraid to live there? Will some angry foreclosed guy torch his house after moving out, or worse?

Will your neighbors who bought at full price talk to you? Or will they throw eggs at your car when you can’t see it?

I guess my point is – be careful what you wish for.

[Eugene]

Suppose that prices do drop and you buy a house for 470k in a 2005 development that originally sold for 800k.

What will it be like living there?

Will there be a 100% resident turnover (foreclosures, short sales)?

Will this neighborhood get so blighted from foreclosures, neglect, and HOA fee shortfall, that you’ll be afraid to live there? Will some angry foreclosed guy torch his house after moving out, or worse?

Will your neighbors who bought at full price talk to you? Or will they throw eggs at your car when you can’t see it?

I guess my point is – be careful what you wish for.

[Eugene]

Suppose that prices do drop and you buy a house for 470k in a 2005 development that originally sold for 800k.

What will it be like living there?

Will there be a 100% resident turnover (foreclosures, short sales)?

Will this neighborhood get so blighted from foreclosures, neglect, and HOA fee shortfall, that you’ll be afraid to live there? Will some angry foreclosed guy torch his house after moving out, or worse?

Will your neighbors who bought at full price talk to you? Or will they throw eggs at your car when you can’t see it?

I guess my point is – be careful what you wish for.

[4spotentialbuyer]

SD Realtor,

What do you think these 3000 sq ft will go for in the upcoming year? We are still trying to wait it out however it’s getting harder. Our friend just bit the bullet and bought in Pienza, 820K before incentives, however the builder is making new owners sign confidentiality paperwork not to disclose the amount of incentives. The sales rep is stating that the prices would not only NOT go gown, they were only going to go UP as they are able to sale 3-4 homes a month. I disagree there as many of those homes are homes that came back on the market as the buyer dropped out. Plus they have not had a sales release in a few months and are not scheduled for another sales release until March/April. I was hoping for mid 600s in 2008 however with the possible mortgage bail out plus lower interest rates, I’m not sure I see that happening this year.

[4spotentialbuyer]

SD Realtor,

What do you think these 3000 sq ft will go for in the upcoming year? We are still trying to wait it out however it’s getting harder. Our friend just bit the bullet and bought in Pienza, 820K before incentives, however the builder is making new owners sign confidentiality paperwork not to disclose the amount of incentives. The sales rep is stating that the prices would not only NOT go gown, they were only going to go UP as they are able to sale 3-4 homes a month. I disagree there as many of those homes are homes that came back on the market as the buyer dropped out. Plus they have not had a sales release in a few months and are not scheduled for another sales release until March/April. I was hoping for mid 600s in 2008 however with the possible mortgage bail out plus lower interest rates, I’m not sure I see that happening this year.

[4spotentialbuyer]

SD Realtor,

What do you think these 3000 sq ft will go for in the upcoming year? We are still trying to wait it out however it’s getting harder. Our friend just bit the bullet and bought in Pienza, 820K before incentives, however the builder is making new owners sign confidentiality paperwork not to disclose the amount of incentives. The sales rep is stating that the prices would not only NOT go gown, they were only going to go UP as they are able to sale 3-4 homes a month. I disagree there as many of those homes are homes that came back on the market as the buyer dropped out. Plus they have not had a sales release in a few months and are not scheduled for another sales release until March/April. I was hoping for mid 600s in 2008 however with the possible mortgage bail out plus lower interest rates, I’m not sure I see that happening this year.

[4spotentialbuyer]

SD Realtor,

What do you think these 3000 sq ft will go for in the upcoming year? We are still trying to wait it out however it’s getting harder. Our friend just bit the bullet and bought in Pienza, 820K before incentives, however the builder is making new owners sign confidentiality paperwork not to disclose the amount of incentives. The sales rep is stating that the prices would not only NOT go gown, they were only going to go UP as they are able to sale 3-4 homes a month. I disagree there as many of those homes are homes that came back on the market as the buyer dropped out. Plus they have not had a sales release in a few months and are not scheduled for another sales release until March/April. I was hoping for mid 600s in 2008 however with the possible mortgage bail out plus lower interest rates, I’m not sure I see that happening this year.

[4spotentialbuyer]

SD Realtor,

What do you think these 3000 sq ft will go for in the upcoming year? We are still trying to wait it out however it’s getting harder. Our friend just bit the bullet and bought in Pienza, 820K before incentives, however the builder is making new owners sign confidentiality paperwork not to disclose the amount of incentives. The sales rep is stating that the prices would not only NOT go gown, they were only going to go UP as they are able to sale 3-4 homes a month. I disagree there as many of those homes are homes that came back on the market as the buyer dropped out. Plus they have not had a sales release in a few months and are not scheduled for another sales release until March/April. I was hoping for mid 600s in 2008 however with the possible mortgage bail out plus lower interest rates, I’m not sure I see that happening this year.

[sdrealtor]

Interest rates are key. Remember that low interest rates dont just reduce the carrying cost for buyers they reduce them for highly leveraged builders also. The lower rates will give them more time to space out phase releases and trickle supply in to match whatever level the demand is.

[sdrealtor]

Interest rates are key. Remember that low interest rates dont just reduce the carrying cost for buyers they reduce them for highly leveraged builders also. The lower rates will give them more time to space out phase releases and trickle supply in to match whatever level the demand is.

[Author]

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