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January 11, 2007 at 11:16 AM in reply to: Pardee Homes Drops Mello Roos in new development in Moorpark (Ventura) #43234January 10, 2007 at 3:46 PM in reply to: Pardee Homes Drops Mello Roos in new development in Moorpark (Ventura) #43170
IONEGARM
ParticipantBill,
I would also think an effective strategy would be to have 1 person sit out in front of each the Shenandoah, Magnolia Lane, and Cherry Hill offices with a sign to educate any buyers coming in. This will really hurt their sales and since they are at the highest cost point in the development (paying all the interest for the already completed homes) I don’t think they would have much choice but to give in.
p.s. May I post your letter to my blog?
ParticipantA buyers market would be low prices and high inventory. A sellers market is high prices and high inventory. This is a sellers market with most sellers not being able to sell.
January 9, 2007 at 10:21 AM in reply to: Pardee Homes Drops Mello Roos in new development in Moorpark (Ventura) #43030ParticipantMello-Roos seems to be more like a property tax which is due the same time your property tax is due.
January 8, 2007 at 12:35 PM in reply to: Mello Roos – Do builders remove it in a down market? #42952ParticipantPardee Homes just dropped Mello-Roos at a development in Ventura (for new home purchasers not previous purchasers), I wrote about the change in my blog today.
http://rehq.blogspot.com/2007/01/pardee-homes-party-is-over.html
ParticipantYes, be rude, crass, invasive, and then blame others for calling you rude, crass, and invasive. Smart plan, it is working very well for you.
Argumentum ad hominem, what investments Rick made has no bearing on the arguments he is making (which he fully supports with data). If someone says 2+2 = 4 it isnt any less wrong if they are a College Professor or if they are a pedophile. The argument is to be discussed not the arguer. And it is especially weird because you agree with the argument and attack the arguer. You have zero right to know about Ricks financial dealings, do you demand to know his paycheck (why not?) as well? After all he is a “public figure”.
I have no idea why people continually put up with your stupidity on a daily basis. All you have ever done is parrot articles with no thoughtful analysis. Rick (and many others) add something to the discussion with every post he makes. You do not, you just spew articles that have been posted many times already and present the authors views as your own. I, personally, cannot wait until your new site launches, hopefully it will keep you nice and busy and away from all the good discussion sites on the internet. It will be a welcome relief.
ParticipantI agree with SDCellar 100%.
ParticipantThe Pardee home development in Ventura had Mello Roos and city maintenance tax that amounted to between 7500-9000 per year, HOA was somewhere north of $250. Add in property tax, and you are paying around $20k a year before you even touch your mortgage.
ParticipantHonestly, I think most of the bloggers come of sounding pretty bad in the article, especially David Jackson.
ParticipantI agree with doubledogdare, the banks are not yet at a point where they are aggressively moving their inventory.
ParticipantBob Toll comments were regarding the Wash DC/NOVA markets and he said that some communities that were seeing 0 to 1 sales a week were seeing 1-3 sales a week.
Therefore all of housing is saved.
There quarterly report is insanely bad, shedding land, stopped buybacks (presumably to save cash, I’ll have to listen to the CC), and order cancellations are spiking.
In the past, Bob Toll claimed their business was more immune than other homebuilders due to their market niche. Now the truth is coming out, they aren’t immune, the same exact thing that happened to every homebuilder is happening to them, high cancellations and low sales.
ParticipantRefis have been hot lately watching the mortgage appplication index, is this purchase or refi he is handling?
ParticipantIt would be a more interesting story if specifics were used, anecdotal “I heard from a friend of a friend” isnt very intersting, which bank doing exactly what, then its effect can be considered. Right now its just heresay.
Participant“Do not be afraid of falling prices. It’s sales that are important,” Lereah said. “We needed prices to fall. We had a balloon and we are deflating it. It got to the point where homes were unaffordable and we reached a breaking point. That’s the reason we are in this contraction.”
ParticipantInflating our way out of this mess is a perfectly valid solution, it’ll only take 10-12 years or so. Sales will continue to decline in the mean time.
p.s. UBS Chief economist disagrees with you, he says one of the reasons why the housing market traditionally doesnt fall is because the bad times have coincided with rampant inflation (thus saving home prices, not real home prices, but saving the illusion that housing doesnt fall). We do not have rampant inflation and therefore housing prices have to fall for equilibrium to be achieved. Either you have lower transactions or lower prices, simple econ 101.
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