[BobbyD]

PowaySeller, I agree completely. We are actually not in a hurry at all and are “bubble-sitting” just like you. We sold our house last year at the peak and moved into a condo for the time being while we wait for a bargain. We own the condo, so we are not paying rent either. So we can afford to wait, and will do so. I guess I just have a lot of angst in wanting to see these greedy developers feel the heat and would like to see them sweat and retreat. Their smug arrogance just making me nuts.

In the meantime, I am learning about foreclosures and completely agree with your thoughts and approach. Thanks for all of the feedback and allof your informative and well thoughtout posts.

[BobbyD]

I concur with you wholeheartedly, I follow the market closely and read all of the various blogs that you do. I also have access to Sandicor (MLS) and watch the resales closely.

This particular group of builders and development is an anomoly. Their prices have not waivered one bit. They are all sitting on lots of inventory and carrying the costs for it. Brookfield in particluar still has 23 homes for sale and did another release of six more. I am certain there is price collusion going on there. I would have never thought of it, however their behavior is completely against the grain of other developments and the market dynamics. It just does not make sense.

Also, the slip of the tongue by the Shea sales rep that the builders all do meet and do discuss prices. As I mentioned, she shared that the other builders had given Brookfield lots of grief for not raising prices in line with them.

I am wondering if there is a consumer housing watch group out there that I can contact to poke around and see what is happening here? Does anyone know of anything?

[BobbyD]

PD and everyone else thanks for your feedback. I agree, I think they are sitting pretty, that is why there is no pressure to lower prices. But by 2007 that will probably change. At every release, I try to meet the other families that want to buy there and we are actually trying to organize ourselves and go in and buy several properties as a “buying group” to leverage our buying power.

PowaySeller, I saw the Bressi Rch info on Jim’s site. The problem with that development is that it sits right under the flight path for Palomar airport and it is also sold and marketed as Carlsbad although it is actually in the San Marcos school district.

I think we will wait until these guys come to their senses, they can not afford to wait forever and time is on our side this time.

[Author]

Posts