Recently I’ve noticed what seems to be a new strategy on the part of some banks. On several properties in areas that I follow in Murrieta they have listed for an artificially low price and started a biding war that ended up with the property selling at or above the price that current market would dictate. For example in one area I follow all of the recent sales (primarily REOs) have been in the neighborhood of 450,000 to 500,000. Of course these same homes were selling for 600,000 to 700,000 at the peak. The bank takes back one of these houses and lists it at 331,000. Three days and 28 offers later it goes into escrow at the highest offer which I’m told was 450,000. Pretty decent marketing ploy, but I don’t see that it means there has been any sort of change in market sentiment. Reminds me of the REDC auctions.
The one thing that I have noticed (at least with DR, Horton), The builder priced their existing inventory to move ,
ie.. one tract I know of had five completed homes that were sitting there for at least 3 to 5 months, then all of a sudden, late January early Feb, they were all sold.
So it seems to me that most of the builders have managed sell off their existing inventory in the TV, now it’s the forclosures that are where the deals are it would seem.
The one thing that I have noticed (at least with DR, Horton), The builder priced their existing inventory to move ,
ie.. one tract I know of had five completed homes that were sitting there for at least 3 to 5 months, then all of a sudden, late January early Feb, they were all sold.
So it seems to me that most of the builders have managed sell off their existing inventory in the TV, now it’s the forclosures that are where the deals are it would seem.
The one thing that I have noticed (at least with DR, Horton), The builder priced their existing inventory to move ,
ie.. one tract I know of had five completed homes that were sitting there for at least 3 to 5 months, then all of a sudden, late January early Feb, they were all sold.
So it seems to me that most of the builders have managed sell off their existing inventory in the TV, now it’s the forclosures that are where the deals are it would seem.
The one thing that I have noticed (at least with DR, Horton), The builder priced their existing inventory to move ,
ie.. one tract I know of had five completed homes that were sitting there for at least 3 to 5 months, then all of a sudden, late January early Feb, they were all sold.
So it seems to me that most of the builders have managed sell off their existing inventory in the TV, now it’s the forclosures that are where the deals are it would seem.
The one thing that I have noticed (at least with DR, Horton), The builder priced their existing inventory to move ,
ie.. one tract I know of had five completed homes that were sitting there for at least 3 to 5 months, then all of a sudden, late January early Feb, they were all sold.
So it seems to me that most of the builders have managed sell off their existing inventory in the TV, now it’s the forclosures that are where the deals are it would seem.
I have been saying for a while that properties are still moving in Temecula – the new builders are still selling. At least as far as I can tell – I’m thinking all along who would be foolish enough to buy now.
I have been saying for a while that properties are still moving in Temecula – the new builders are still selling. At least as far as I can tell – I’m thinking all along who would be foolish enough to buy now.
I have been saying for a while that properties are still moving in Temecula – the new builders are still selling. At least as far as I can tell – I’m thinking all along who would be foolish enough to buy now.
I have been saying for a while that properties are still moving in Temecula – the new builders are still selling. At least as far as I can tell – I’m thinking all along who would be foolish enough to buy now.
I have been saying for a while that properties are still moving in Temecula – the new builders are still selling. At least as far as I can tell – I’m thinking all along who would be foolish enough to buy now.
