Pienza – New Lots Pricing

[SD Realtor]

The longer you can wait the better… if you could even stick it out til the fall of 08 you will be better served then the spring of 08…

One thing to think about as well, which in my mind may be important but in others not so… the financing situation. If this is a long term investment then you need to analyze the long term financing costs of the home. What I am getting at here is that a difference in pricing over a long period of time should be analyzed against a difference in financing over that same period.

I don’t ever disagree with the thoughts that a lower price home at a higher rate is better then a higher price home at a lower rate. This is true because of refinancing possibilities in the future and less risk of depreciation when you buy the lower price asset. Still, there is something to be said for running the numbers out if you think that over the life of you owning the home, the interest rate climate is not going to be lower.

SD Realtor

[sdcellar]

4spb– Fall/Winter will generally be the best time to buy until things turn around, so if you can only wait until 2008, then at least wait until the fall, lest you find yourself kicking yourself in the head.

Sure, you’ll probably still be kicking yourself in 2009, but at least you’ll have a chance at 8-months or so of happiness.

That’s about the best I can offer you (although I’ve *heard* you can actually rent houses in 4S Ranch). Crazy, eh?

[stop_the_bubble_hype]

I believe owners pull out of these deals when they hear news of further declines, which puts more pressure on the builders. My question is — Is it possible for those who have already put a deposit down to get their price negotiated lower based on the new pricing?

It would make sense to me that they would hold onto a buyer rather than wait for someone else to come in, perhaps I’m being optimistic?

[stockstradr]

Well, on the plus side. My wife and I lived about 4 blocks from Pienza and saw them develop that area.

We really liked that area of Ranch Bernardo, even though it is not as desireable as many other RB areas such as homes around Bernardo Heights Country Club (where we also lived previously)

The weather is fanastic in that area. We only ran either AC or heat about 3 total days per year.

I love that Lake Poway park that is only about ten minutes drive to the East. When I was in good shape I used to drive over and fun full speed up to the top of Mt Woodson and then run back down to Blue Sky Ecological Reserve, about 9 miles. That was a great run, really wonderful.

[SD Realtor]

stopthebubblehype that is a pretty good theory. You would think that the developer would let the buyers renegotiate. However that logic makes to much sense so I guess we shouldn’t be surprised if they don’t do that.

stockstradr if you ever ride mtn bikes the ride from the top of mt woodson down to poway lake is a fun one… except you need to pick up the car at the backside of mt woodson.

SD Realtor

[4spotentialbuyer]

SDcellar,

Thanks for the advice, we will try to wait as long as possible hopefully until Fall 2008 (not sure if we could hold out for that long)…we really want to buy a new house rather than buy resell as we want to pick our own options. Pienza has about 16 homes left after this phasea nd we re also looking at the other new builders in 4S…John Laing or Buie…We don’t have our hearts set on Pienza, we just want to buy a new 3000 sq ft home to live in for the next 10-20 years. It seems as if the 3000 sq ft NEW homes will be completed by 2008 for all the buillders for 4S Ranch so that is why we will not wait until 2009. We love Del Sur however prices and mello roos are higher and we don’t want to wait 5-7 years…we recently sold our house and we are renting an apartment in order to save more money for a down payment…we don’t want to rent a house in 4S as those rents are currently 2.5 -3K per month, we rahter rent an apartment and try to save more money…although it is more cramped in apartment.

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