I was looking at comps for resale vs. new homes in 4S ranch and don’t understand why anyone would buy a resale.
Developments like Pienza, Evergreen and Silhouette are selling comparable sized brand new homes for at least $100k less than resale homes and they are in a great location of 4S. Don’t these people selling or the realtors listing them realize they are fighting a losing battle trying list at such high prices compared to new homes?
Yea this seems to be happening everywhere (well most everywhere), The Builders know what the mortgage companies will go for and what they won’t (or they are learning fast).
This whole credit crisis is really not what most think, The Sub-Prime of it’s self is not a big issue, what is a big issue is what the sub-prime did (this is where I think most economist get it wrong), What it did was drive the average price about 200K more than where it should have gone,
So Now the issue with credit is, who wants to buy paper on an asset that is 200K over priced ????
Alex: when you factor in the HOA fees and the mello-roos fees, and the god knows how many other fees 4S Ranch has, you’ll find that the resale home is actually cheaper or the difference is at least negligible.
I think Alex is talking about almost exactly the same house just on the different lot in 4S Ranch. You know the sucker who brought 6 months to a year ago.
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