What happens when the master builder goes under?

[temeculaguy]

One of the developments I have been looking at is Wolf Creek. Standard pacific is the master builder and it is about 2/3 completed, with 8 tracts still under construction. Standard pacific is building their last three but Lennar and Woodside are building a combined four tracts and all 8 have years to go before buildout at the current rate. Watching Stan Pac’s stock fall this year from 30 to 3, they are hemmoraging cash and I see no way for them to survive more than a few more months. What happens to the developers that stay afloat if the master goes under? Most of the community amenities (pool, parks, etc.) are complete, but where does that leave the tenant builders. Even if they aren’t hurt specifically, wouldn’t the stigma of tracts going under within the development scare away the few remaining buyers for their product. Can you imagine the impact of boarded up models at every other tract.

[5yes]

TG I think this will happen even more severely out in French Valley where at one development the sales lady told us they have 400 homes yet to build. My husband laughed out loud. You can barely make it down Winchester to the freeway right now. What is this going to do to water and other resources since there are so many homes still about to be added out in the desert? Also, what is up with Spencer’s Crossing? They are just getting going, they have to have some kind of plan to sell all their homes the next few years? Who is going to buy them with the high tax rates, high HOA, and all the other problems with living out so far? On a side note, I remember last summer you told me to watch Temecula Lane’s progress and so I have, several teachers I know bought in there this fall. I have been surprised that they are really selling fast and not lowering prices to where I think they would be even worth considering! I stop at the bungalows to look for deals but they rarely have anything worth my time. Am I getting too snooty now? What do you think the Centex homes up off Butterfield Stage should be worth? Those are very nice! We have been looking at repos in that area, but every month we wait prices go lower so we are just going to keep waiting. Have you decided what you want to do?

[halftrojan]

My wife and I just went by Standard Pacific’s Redwood at Wolf Creek. They are having their end of the year sale for move in next month. Homes that were going in the high $590s were going for $450k. They are only about a third of a way into their buildout (sales rep said 2 years to finish).

The homes were nice enough but the sales lady Katy was a real arrogant witch. As to the reason for her rude behavior, I noticed that besides the spec homes they were selling there were no houses under construction. When asked she said they were go to start taking orders again in January with move-ins in June. 6 months with no new sales!!! After monitoring their stock for several months now, I think there is a more than 50% chance they will be bankrupt by then. The odds of them never finishing are pretty good.

So in summary, buy now at Standard Pacific Redwood and live next to dirt for several years!

[halftrojan]

My wife and I just went by Standard Pacific’s Redwood at Wolf Creek. They are having their end of the year sale for move in next month. Homes that were going in the high $590s were going for $450k. They are only about a third of a way into their buildout (sales rep said 2 years to finish).

The homes were nice enough but the sales lady Katy was a real arrogant witch. As to the reason for her rude behavior, I noticed that besides the spec homes they were selling there were no houses under construction. When asked she said they were go to start taking orders again in January with move-ins in June. 6 months with no new sales!!! After monitoring their stock for several months now, I think there is a more than 50% chance they will be bankrupt by then. The odds of them never finishing are pretty good.

So in summary, buy now at Standard Pacific Redwood and live next to dirt for several years!

[halftrojan]

My wife and I just went by Standard Pacific’s Redwood at Wolf Creek. They are having their end of the year sale for move in next month. Homes that were going in the high $590s were going for $450k. They are only about a third of a way into their buildout (sales rep said 2 years to finish).

The homes were nice enough but the sales lady Katy was a real arrogant witch. As to the reason for her rude behavior, I noticed that besides the spec homes they were selling there were no houses under construction. When asked she said they were go to start taking orders again in January with move-ins in June. 6 months with no new sales!!! After monitoring their stock for several months now, I think there is a more than 50% chance they will be bankrupt by then. The odds of them never finishing are pretty good.

So in summary, buy now at Standard Pacific Redwood and live next to dirt for several years!

[halftrojan]

My wife and I just went by Standard Pacific’s Redwood at Wolf Creek. They are having their end of the year sale for move in next month. Homes that were going in the high $590s were going for $450k. They are only about a third of a way into their buildout (sales rep said 2 years to finish).

The homes were nice enough but the sales lady Katy was a real arrogant witch. As to the reason for her rude behavior, I noticed that besides the spec homes they were selling there were no houses under construction. When asked she said they were go to start taking orders again in January with move-ins in June. 6 months with no new sales!!! After monitoring their stock for several months now, I think there is a more than 50% chance they will be bankrupt by then. The odds of them never finishing are pretty good.

So in summary, buy now at Standard Pacific Redwood and live next to dirt for several years!

[halftrojan]

My wife and I just went by Standard Pacific’s Redwood at Wolf Creek. They are having their end of the year sale for move in next month. Homes that were going in the high $590s were going for $450k. They are only about a third of a way into their buildout (sales rep said 2 years to finish).

The homes were nice enough but the sales lady Katy was a real arrogant witch. As to the reason for her rude behavior, I noticed that besides the spec homes they were selling there were no houses under construction. When asked she said they were go to start taking orders again in January with move-ins in June. 6 months with no new sales!!! After monitoring their stock for several months now, I think there is a more than 50% chance they will be bankrupt by then. The odds of them never finishing are pretty good.

So in summary, buy now at Standard Pacific Redwood and live next to dirt for several years!

[5yes]

TG I think this will happen even more severely out in French Valley where at one development the sales lady told us they have 400 homes yet to build. My husband laughed out loud. You can barely make it down Winchester to the freeway right now. What is this going to do to water and other resources since there are so many homes still about to be added out in the desert? Also, what is up with Spencer’s Crossing? They are just getting going, they have to have some kind of plan to sell all their homes the next few years? Who is going to buy them with the high tax rates, high HOA, and all the other problems with living out so far? On a side note, I remember last summer you told me to watch Temecula Lane’s progress and so I have, several teachers I know bought in there this fall. I have been surprised that they are really selling fast and not lowering prices to where I think they would be even worth considering! I stop at the bungalows to look for deals but they rarely have anything worth my time. Am I getting too snooty now? What do you think the Centex homes up off Butterfield Stage should be worth? Those are very nice! We have been looking at repos in that area, but every month we wait prices go lower so we are just going to keep waiting. Have you decided what you want to do?

[5yes]

TG I think this will happen even more severely out in French Valley where at one development the sales lady told us they have 400 homes yet to build. My husband laughed out loud. You can barely make it down Winchester to the freeway right now. What is this going to do to water and other resources since there are so many homes still about to be added out in the desert? Also, what is up with Spencer’s Crossing? They are just getting going, they have to have some kind of plan to sell all their homes the next few years? Who is going to buy them with the high tax rates, high HOA, and all the other problems with living out so far? On a side note, I remember last summer you told me to watch Temecula Lane’s progress and so I have, several teachers I know bought in there this fall. I have been surprised that they are really selling fast and not lowering prices to where I think they would be even worth considering! I stop at the bungalows to look for deals but they rarely have anything worth my time. Am I getting too snooty now? What do you think the Centex homes up off Butterfield Stage should be worth? Those are very nice! We have been looking at repos in that area, but every month we wait prices go lower so we are just going to keep waiting. Have you decided what you want to do?

[5yes]

TG I think this will happen even more severely out in French Valley where at one development the sales lady told us they have 400 homes yet to build. My husband laughed out loud. You can barely make it down Winchester to the freeway right now. What is this going to do to water and other resources since there are so many homes still about to be added out in the desert? Also, what is up with Spencer’s Crossing? They are just getting going, they have to have some kind of plan to sell all their homes the next few years? Who is going to buy them with the high tax rates, high HOA, and all the other problems with living out so far? On a side note, I remember last summer you told me to watch Temecula Lane’s progress and so I have, several teachers I know bought in there this fall. I have been surprised that they are really selling fast and not lowering prices to where I think they would be even worth considering! I stop at the bungalows to look for deals but they rarely have anything worth my time. Am I getting too snooty now? What do you think the Centex homes up off Butterfield Stage should be worth? Those are very nice! We have been looking at repos in that area, but every month we wait prices go lower so we are just going to keep waiting. Have you decided what you want to do?

[5yes]

TG I think this will happen even more severely out in French Valley where at one development the sales lady told us they have 400 homes yet to build. My husband laughed out loud. You can barely make it down Winchester to the freeway right now. What is this going to do to water and other resources since there are so many homes still about to be added out in the desert? Also, what is up with Spencer’s Crossing? They are just getting going, they have to have some kind of plan to sell all their homes the next few years? Who is going to buy them with the high tax rates, high HOA, and all the other problems with living out so far? On a side note, I remember last summer you told me to watch Temecula Lane’s progress and so I have, several teachers I know bought in there this fall. I have been surprised that they are really selling fast and not lowering prices to where I think they would be even worth considering! I stop at the bungalows to look for deals but they rarely have anything worth my time. Am I getting too snooty now? What do you think the Centex homes up off Butterfield Stage should be worth? Those are very nice! We have been looking at repos in that area, but every month we wait prices go lower so we are just going to keep waiting. Have you decided what you want to do?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[temeculaguy]

5yes, every day I get less sleep and I’m buying advil at Costco in the 5 gallon buckets. I honestly don’t know what to do. I found a repo that I like and fits my needs in the area I wan’t with a list of 300k and was thinking of getting SD Realtor to write an offer for me for 250k, I was thinking of renting the same model on that street for $1850 but when I run the numbers, my out the door cost with 20% down is less than rent not even counting the tax benefit. Even with 10% down and pmi it is a tie. That side of my brain argues with the side that knows it will keep going down, I would say that that it can drive a man to drink, but it’s me were talking about, not getting the right parking spot can drive me to drink. Hell getting the right parking spot is reason to celebrate and you can’t celebrate without champagne. Drinking aside, the reason i worry about Standard Pacific is that unlike the Redwood referenced earlier, their Cottonwood and Laurel tracts have some screaming deals and that same stoppage on construction. They are pouring a bunch of pads right now for April/May move in and have some standing inventory but nothing in between (they didn’t staart anything for six months). I am afraid to buy the standing inventory and live next to empty lots but May would require me to rent for less than six months so the timing sucks. I either move in March 08 or not until September 08, one is too soon and one too late. I fear the builders are going to start cheapening their stuff and using cheaper methods, it’s common in mid downturn, I was hoping for something planned during the good times and sold in the bad. They are basically knocking more that 25% off from last month and about 40% from last year. Salesperson said their corporate office decided they would lose less money selling for less than sitting on the land. I wonder what will happen to Del Sur if the company goes under. Oops, it’s almost 8 p.m., time to drink, I’ll start trying to rule the world bright and early tomorrow.

[PadreBrian]

Del Sur has a 10 year master plan finish, anyway, so don’t worry about it. Black Mountain Ranch sales the land to developers in small blocks. There’s 5 builders in Del Sur, so if 1 or 2 don’t make it the other (and even new ones) keep building.

[sdcellar]

I believe that StanPac has a significant interest in Black Mountain Ranch LLC (perhaps even a majority interest). Not saying this means it’s all doom and gloom for Del Sur, but it’s more than just than their builder presence there.

That said, of the 7 initial tracts, 4 were Standard Pacific, making them the most prominent builder to date.

I agree though, that even if they go under, someone else will come in and pick up the slack (?) on both fronts of the business.

[5yes]

He he TG, I wonder if you are Irish. They say the Irish would have ruled the world if not for alcohol:) I am proudly descended from some very drunk Irish stock!

So, if it costs you less to own than rent, it seems that it makes sense to buy, but there are a lot of posts running through my head that I have read to dispute this theory. I think that we might buy if we find the perfect place that costs less to buy than rent, I know a lot of people my age (late 20s) who are all waiting with good credit and money saved for this to happen. I don’t think rents would go down too significantly, so if I can easily rent out the house I buy if push comes to shove and we have to move out of area or something happens, then we might buy. If you remember, I was in a similar place as yours, our rental out here was foreclosed on and we had to move and were all pissed off and so wanted to buy. We found a good deal (3 car garage, 2800 sq/ft, 305,000 accepted offer) but I convinced myself that renting for a few more months would bring even better deals, maybe not price per square feet but hopefully more options at that price. Moving into another rental when you know you will move again soon sucks but we are so glad not to be rushed into buying a place. If you look hard enough: Criagslist, newspapers, drive around the areas you want to rent in, you can find a month to month rental, we did. Then you can busy yourself with more time killers like the 3 car garage monitor until you find the perfect house.

Incidentally, what is your opinion of the relationship between post election year and interest rates. I am worried that rates may go up quickly and so am sort of planning on buying next fall, maybe earlier depending on how fast the inventory of houses that I like lowers their prices to a level that I like. I want to pay no more than 280,000 for a decent 4 bedroom house with a nice backyard and near parks and an elementary school for my boys. Funny thing about strike prices is I have the pleasure of being able to keep lowering my strike price and the houses keep catching up!

[5yes]

He he TG, I wonder if you are Irish. They say the Irish would have ruled the world if not for alcohol:) I am proudly descended from some very drunk Irish stock!

So, if it costs you less to own than rent, it seems that it makes sense to buy, but there are a lot of posts running through my head that I have read to dispute this theory. I think that we might buy if we find the perfect place that costs less to buy than rent, I know a lot of people my age (late 20s) who are all waiting with good credit and money saved for this to happen. I don’t think rents would go down too significantly, so if I can easily rent out the house I buy if push comes to shove and we have to move out of area or something happens, then we might buy. If you remember, I was in a similar place as yours, our rental out here was foreclosed on and we had to move and were all pissed off and so wanted to buy. We found a good deal (3 car garage, 2800 sq/ft, 305,000 accepted offer) but I convinced myself that renting for a few more months would bring even better deals, maybe not price per square feet but hopefully more options at that price. Moving into another rental when you know you will move again soon sucks but we are so glad not to be rushed into buying a place. If you look hard enough: Criagslist, newspapers, drive around the areas you want to rent in, you can find a month to month rental, we did. Then you can busy yourself with more time killers like the 3 car garage monitor until you find the perfect house.

Incidentally, what is your opinion of the relationship between post election year and interest rates. I am worried that rates may go up quickly and so am sort of planning on buying next fall, maybe earlier depending on how fast the inventory of houses that I like lowers their prices to a level that I like. I want to pay no more than 280,000 for a decent 4 bedroom house with a nice backyard and near parks and an elementary school for my boys. Funny thing about strike prices is I have the pleasure of being able to keep lowering my strike price and the houses keep catching up!

[5yes]

He he TG, I wonder if you are Irish. They say the Irish would have ruled the world if not for alcohol:) I am proudly descended from some very drunk Irish stock!

So, if it costs you less to own than rent, it seems that it makes sense to buy, but there are a lot of posts running through my head that I have read to dispute this theory. I think that we might buy if we find the perfect place that costs less to buy than rent, I know a lot of people my age (late 20s) who are all waiting with good credit and money saved for this to happen. I don’t think rents would go down too significantly, so if I can easily rent out the house I buy if push comes to shove and we have to move out of area or something happens, then we might buy. If you remember, I was in a similar place as yours, our rental out here was foreclosed on and we had to move and were all pissed off and so wanted to buy. We found a good deal (3 car garage, 2800 sq/ft, 305,000 accepted offer) but I convinced myself that renting for a few more months would bring even better deals, maybe not price per square feet but hopefully more options at that price. Moving into another rental when you know you will move again soon sucks but we are so glad not to be rushed into buying a place. If you look hard enough: Criagslist, newspapers, drive around the areas you want to rent in, you can find a month to month rental, we did. Then you can busy yourself with more time killers like the 3 car garage monitor until you find the perfect house.

Incidentally, what is your opinion of the relationship between post election year and interest rates. I am worried that rates may go up quickly and so am sort of planning on buying next fall, maybe earlier depending on how fast the inventory of houses that I like lowers their prices to a level that I like. I want to pay no more than 280,000 for a decent 4 bedroom house with a nice backyard and near parks and an elementary school for my boys. Funny thing about strike prices is I have the pleasure of being able to keep lowering my strike price and the houses keep catching up!

[5yes]

He he TG, I wonder if you are Irish. They say the Irish would have ruled the world if not for alcohol:) I am proudly descended from some very drunk Irish stock!

So, if it costs you less to own than rent, it seems that it makes sense to buy, but there are a lot of posts running through my head that I have read to dispute this theory. I think that we might buy if we find the perfect place that costs less to buy than rent, I know a lot of people my age (late 20s) who are all waiting with good credit and money saved for this to happen. I don’t think rents would go down too significantly, so if I can easily rent out the house I buy if push comes to shove and we have to move out of area or something happens, then we might buy. If you remember, I was in a similar place as yours, our rental out here was foreclosed on and we had to move and were all pissed off and so wanted to buy. We found a good deal (3 car garage, 2800 sq/ft, 305,000 accepted offer) but I convinced myself that renting for a few more months would bring even better deals, maybe not price per square feet but hopefully more options at that price. Moving into another rental when you know you will move again soon sucks but we are so glad not to be rushed into buying a place. If you look hard enough: Criagslist, newspapers, drive around the areas you want to rent in, you can find a month to month rental, we did. Then you can busy yourself with more time killers like the 3 car garage monitor until you find the perfect house.

Incidentally, what is your opinion of the relationship between post election year and interest rates. I am worried that rates may go up quickly and so am sort of planning on buying next fall, maybe earlier depending on how fast the inventory of houses that I like lowers their prices to a level that I like. I want to pay no more than 280,000 for a decent 4 bedroom house with a nice backyard and near parks and an elementary school for my boys. Funny thing about strike prices is I have the pleasure of being able to keep lowering my strike price and the houses keep catching up!

[5yes]

He he TG, I wonder if you are Irish. They say the Irish would have ruled the world if not for alcohol:) I am proudly descended from some very drunk Irish stock!

So, if it costs you less to own than rent, it seems that it makes sense to buy, but there are a lot of posts running through my head that I have read to dispute this theory. I think that we might buy if we find the perfect place that costs less to buy than rent, I know a lot of people my age (late 20s) who are all waiting with good credit and money saved for this to happen. I don’t think rents would go down too significantly, so if I can easily rent out the house I buy if push comes to shove and we have to move out of area or something happens, then we might buy. If you remember, I was in a similar place as yours, our rental out here was foreclosed on and we had to move and were all pissed off and so wanted to buy. We found a good deal (3 car garage, 2800 sq/ft, 305,000 accepted offer) but I convinced myself that renting for a few more months would bring even better deals, maybe not price per square feet but hopefully more options at that price. Moving into another rental when you know you will move again soon sucks but we are so glad not to be rushed into buying a place. If you look hard enough: Criagslist, newspapers, drive around the areas you want to rent in, you can find a month to month rental, we did. Then you can busy yourself with more time killers like the 3 car garage monitor until you find the perfect house.

Incidentally, what is your opinion of the relationship between post election year and interest rates. I am worried that rates may go up quickly and so am sort of planning on buying next fall, maybe earlier depending on how fast the inventory of houses that I like lowers their prices to a level that I like. I want to pay no more than 280,000 for a decent 4 bedroom house with a nice backyard and near parks and an elementary school for my boys. Funny thing about strike prices is I have the pleasure of being able to keep lowering my strike price and the houses keep catching up!

[sdcellar]

I believe that StanPac has a significant interest in Black Mountain Ranch LLC (perhaps even a majority interest). Not saying this means it’s all doom and gloom for Del Sur, but it’s more than just than their builder presence there.

That said, of the 7 initial tracts, 4 were Standard Pacific, making them the most prominent builder to date.

I agree though, that even if they go under, someone else will come in and pick up the slack (?) on both fronts of the business.

[sdcellar]

I believe that StanPac has a significant interest in Black Mountain Ranch LLC (perhaps even a majority interest). Not saying this means it’s all doom and gloom for Del Sur, but it’s more than just than their builder presence there.

That said, of the 7 initial tracts, 4 were Standard Pacific, making them the most prominent builder to date.

I agree though, that even if they go under, someone else will come in and pick up the slack (?) on both fronts of the business.

[sdcellar]

I believe that StanPac has a significant interest in Black Mountain Ranch LLC (perhaps even a majority interest). Not saying this means it’s all doom and gloom for Del Sur, but it’s more than just than their builder presence there.

That said, of the 7 initial tracts, 4 were Standard Pacific, making them the most prominent builder to date.

I agree though, that even if they go under, someone else will come in and pick up the slack (?) on both fronts of the business.

[sdcellar]

I believe that StanPac has a significant interest in Black Mountain Ranch LLC (perhaps even a majority interest). Not saying this means it’s all doom and gloom for Del Sur, but it’s more than just than their builder presence there.

That said, of the 7 initial tracts, 4 were Standard Pacific, making them the most prominent builder to date.

I agree though, that even if they go under, someone else will come in and pick up the slack (?) on both fronts of the business.

[PadreBrian]

Del Sur has a 10 year master plan finish, anyway, so don’t worry about it. Black Mountain Ranch sales the land to developers in small blocks. There’s 5 builders in Del Sur, so if 1 or 2 don’t make it the other (and even new ones) keep building.

[PadreBrian]

Del Sur has a 10 year master plan finish, anyway, so don’t worry about it. Black Mountain Ranch sales the land to developers in small blocks. There’s 5 builders in Del Sur, so if 1 or 2 don’t make it the other (and even new ones) keep building.

[PadreBrian]

Del Sur has a 10 year master plan finish, anyway, so don’t worry about it. Black Mountain Ranch sales the land to developers in small blocks. There’s 5 builders in Del Sur, so if 1 or 2 don’t make it the other (and even new ones) keep building.

[PadreBrian]

Del Sur has a 10 year master plan finish, anyway, so don’t worry about it. Black Mountain Ranch sales the land to developers in small blocks. There’s 5 builders in Del Sur, so if 1 or 2 don’t make it the other (and even new ones) keep building.

[temeculaguy]

5yes, every day I get less sleep and I’m buying advil at Costco in the 5 gallon buckets. I honestly don’t know what to do. I found a repo that I like and fits my needs in the area I wan’t with a list of 300k and was thinking of getting SD Realtor to write an offer for me for 250k, I was thinking of renting the same model on that street for $1850 but when I run the numbers, my out the door cost with 20% down is less than rent not even counting the tax benefit. Even with 10% down and pmi it is a tie. That side of my brain argues with the side that knows it will keep going down, I would say that that it can drive a man to drink, but it’s me were talking about, not getting the right parking spot can drive me to drink. Hell getting the right parking spot is reason to celebrate and you can’t celebrate without champagne. Drinking aside, the reason i worry about Standard Pacific is that unlike the Redwood referenced earlier, their Cottonwood and Laurel tracts have some screaming deals and that same stoppage on construction. They are pouring a bunch of pads right now for April/May move in and have some standing inventory but nothing in between (they didn’t staart anything for six months). I am afraid to buy the standing inventory and live next to empty lots but May would require me to rent for less than six months so the timing sucks. I either move in March 08 or not until September 08, one is too soon and one too late. I fear the builders are going to start cheapening their stuff and using cheaper methods, it’s common in mid downturn, I was hoping for something planned during the good times and sold in the bad. They are basically knocking more that 25% off from last month and about 40% from last year. Salesperson said their corporate office decided they would lose less money selling for less than sitting on the land. I wonder what will happen to Del Sur if the company goes under. Oops, it’s almost 8 p.m., time to drink, I’ll start trying to rule the world bright and early tomorrow.

[temeculaguy]

5yes, every day I get less sleep and I’m buying advil at Costco in the 5 gallon buckets. I honestly don’t know what to do. I found a repo that I like and fits my needs in the area I wan’t with a list of 300k and was thinking of getting SD Realtor to write an offer for me for 250k, I was thinking of renting the same model on that street for $1850 but when I run the numbers, my out the door cost with 20% down is less than rent not even counting the tax benefit. Even with 10% down and pmi it is a tie. That side of my brain argues with the side that knows it will keep going down, I would say that that it can drive a man to drink, but it’s me were talking about, not getting the right parking spot can drive me to drink. Hell getting the right parking spot is reason to celebrate and you can’t celebrate without champagne. Drinking aside, the reason i worry about Standard Pacific is that unlike the Redwood referenced earlier, their Cottonwood and Laurel tracts have some screaming deals and that same stoppage on construction. They are pouring a bunch of pads right now for April/May move in and have some standing inventory but nothing in between (they didn’t staart anything for six months). I am afraid to buy the standing inventory and live next to empty lots but May would require me to rent for less than six months so the timing sucks. I either move in March 08 or not until September 08, one is too soon and one too late. I fear the builders are going to start cheapening their stuff and using cheaper methods, it’s common in mid downturn, I was hoping for something planned during the good times and sold in the bad. They are basically knocking more that 25% off from last month and about 40% from last year. Salesperson said their corporate office decided they would lose less money selling for less than sitting on the land. I wonder what will happen to Del Sur if the company goes under. Oops, it’s almost 8 p.m., time to drink, I’ll start trying to rule the world bright and early tomorrow.

[temeculaguy]

5yes, every day I get less sleep and I’m buying advil at Costco in the 5 gallon buckets. I honestly don’t know what to do. I found a repo that I like and fits my needs in the area I wan’t with a list of 300k and was thinking of getting SD Realtor to write an offer for me for 250k, I was thinking of renting the same model on that street for $1850 but when I run the numbers, my out the door cost with 20% down is less than rent not even counting the tax benefit. Even with 10% down and pmi it is a tie. That side of my brain argues with the side that knows it will keep going down, I would say that that it can drive a man to drink, but it’s me were talking about, not getting the right parking spot can drive me to drink. Hell getting the right parking spot is reason to celebrate and you can’t celebrate without champagne. Drinking aside, the reason i worry about Standard Pacific is that unlike the Redwood referenced earlier, their Cottonwood and Laurel tracts have some screaming deals and that same stoppage on construction. They are pouring a bunch of pads right now for April/May move in and have some standing inventory but nothing in between (they didn’t staart anything for six months). I am afraid to buy the standing inventory and live next to empty lots but May would require me to rent for less than six months so the timing sucks. I either move in March 08 or not until September 08, one is too soon and one too late. I fear the builders are going to start cheapening their stuff and using cheaper methods, it’s common in mid downturn, I was hoping for something planned during the good times and sold in the bad. They are basically knocking more that 25% off from last month and about 40% from last year. Salesperson said their corporate office decided they would lose less money selling for less than sitting on the land. I wonder what will happen to Del Sur if the company goes under. Oops, it’s almost 8 p.m., time to drink, I’ll start trying to rule the world bright and early tomorrow.

[temeculaguy]

5yes, every day I get less sleep and I’m buying advil at Costco in the 5 gallon buckets. I honestly don’t know what to do. I found a repo that I like and fits my needs in the area I wan’t with a list of 300k and was thinking of getting SD Realtor to write an offer for me for 250k, I was thinking of renting the same model on that street for $1850 but when I run the numbers, my out the door cost with 20% down is less than rent not even counting the tax benefit. Even with 10% down and pmi it is a tie. That side of my brain argues with the side that knows it will keep going down, I would say that that it can drive a man to drink, but it’s me were talking about, not getting the right parking spot can drive me to drink. Hell getting the right parking spot is reason to celebrate and you can’t celebrate without champagne. Drinking aside, the reason i worry about Standard Pacific is that unlike the Redwood referenced earlier, their Cottonwood and Laurel tracts have some screaming deals and that same stoppage on construction. They are pouring a bunch of pads right now for April/May move in and have some standing inventory but nothing in between (they didn’t staart anything for six months). I am afraid to buy the standing inventory and live next to empty lots but May would require me to rent for less than six months so the timing sucks. I either move in March 08 or not until September 08, one is too soon and one too late. I fear the builders are going to start cheapening their stuff and using cheaper methods, it’s common in mid downturn, I was hoping for something planned during the good times and sold in the bad. They are basically knocking more that 25% off from last month and about 40% from last year. Salesperson said their corporate office decided they would lose less money selling for less than sitting on the land. I wonder what will happen to Del Sur if the company goes under. Oops, it’s almost 8 p.m., time to drink, I’ll start trying to rule the world bright and early tomorrow.

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[Author]

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