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post #1 of 17 (permalink) Old 09-14-2007, 03:31 PM Thread Starter
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home fire sale

Can you guys believe that builder is selling 1000 homes at ROCK BOTTOM prices? t hat is nuts. Wonder if things will get worse in the next year or so. I'm in shock at that 3 day house sale that builder is doing.


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post #2 of 17 (permalink) Old 09-14-2007, 03:42 PM
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1000x250,000 average means he's sitting on 250,000,000 in inventory.... I'd be inclined to move that too if I was him.

HAIL TO THE KING!!

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post #3 of 17 (permalink) Old 09-14-2007, 03:46 PM
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What are you talking about? lol



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post #4 of 17 (permalink) Old 09-14-2007, 03:50 PM
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have no idea what they are talking about, but can guess....

the mortgage crises has builders sucking wind too, they are willing to do anything to move units... Here they are not only lowering prices, but tossing in finished basements, morning rooms, and other extras


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post #5 of 17 (permalink) Old 09-14-2007, 03:57 PM Thread Starter
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listen to the news guys...one builder is doing a 3 day fire sale and dropping the prices of homes up to 100k on some models. I believe all the homes are 20% off or something crazy.


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post #6 of 17 (permalink) Old 09-14-2007, 04:42 PM
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In that case this is nothing new out here... this has been happening for the last 8 months... lol

The thing is... we are only about half way through this drop in home prices... IMO!

I see another 10-20% drop in the next 6 months.

Disclaimer- This is my opinion only..............



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post #7 of 17 (permalink) Old 09-14-2007, 04:45 PM Thread Starter
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I hope you're right R1Lover as in about 8mo i'm gonna be in the market


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post #8 of 17 (permalink) Old 09-14-2007, 04:47 PM
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Even if it doesn't go down more it won't be going up by then so that will be a great time to enter it imo.



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post #9 of 17 (permalink) Old 09-14-2007, 07:51 PM
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we bought our home in April, at the start of all this....so we got a great price. I have no intention of selling for at least 10 years, so this "crunch" doesn't bother me much.... It is a GREAT time to be a buyer though, just don't go with countrywide...lol

The rates aren't what they were back in 04, but the costs are waaaay down!


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post #10 of 17 (permalink) Old 09-16-2007, 11:54 PM
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ya....that's great. 100K drop in san diego means a 900K house is now only a screaming 800K.

they're dropping here, but not by THAT much. it's still san diego, ya know. /sarcasm


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post #11 of 17 (permalink) Old 09-17-2007, 05:51 PM Thread Starter
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yah, i'm hoping it falls more before we buy. LIke you said phil, it won't matter if you buy for the long haul, but those who are trying to flip houses or have adjustable rates...they are in for a treat.


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post #12 of 17 (permalink) Old 09-17-2007, 08:15 PM
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why is this thread title "home fire sale"



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post #13 of 17 (permalink) Old 09-17-2007, 08:48 PM Thread Starter
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That's what they were calling it. a housing fire sale...fire sale as in DEEP DISCOUNTS and must go. This one maker dropped their houses for 20% for only 3 days. It was all over the news. Ended last sunday i think. Only goes to show how desperate they are to move their inventory.


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post #14 of 17 (permalink) Old 09-17-2007, 09:32 PM
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oh.. gotcha..



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post #15 of 17 (permalink) Old 09-17-2007, 09:48 PM Thread Starter
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actually they light them on fire...burn about 15% of the house then they discount them the same % so people can afford them. You know...


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post #16 of 17 (permalink) Old 09-18-2007, 02:25 PM
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Quote:
Originally Posted by gsxcorey View Post
actually they light them on fire...burn about 15% of the house then they discount them the same % so people can afford them. You know...
appears to be similar to AMD's new business strategy https://www.sportbikeforum.net/showthread.php?t=25548

and yes, I knew you where joking, just figured I'd point out that someone out there is actually stupid enough to attempt something like that.

HAIL TO THE KING!!

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post #17 of 17 (permalink) Old 09-19-2007, 01:03 PM
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My fiance and I got a fair deal on our home I believe. We are getting it built and signed the contract in July of this year. Rates are slumping, but because we didn't put that much money down it is still in the 6.5% range as of right now.

I'm hoping it slumps to 6%, if it does, I will be VERY happy!!
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