Quote:
Originally Posted by margaretmattson
What the Developer earns has NOTHING to do with homebuyers and residents. His money is his to keep. Reducing homes prices in Denham and Dabney to sell them quickly hurts those who want to sell their preowned homes. For some, the sky is falling! In order to sell, many homeowners must reduce their asking price significantly.I am so glad you are happy the Developer is making money. But, have you tried to sell your home? Maybe your outlook will change when your wallet is involved. I am pretty sure those who bought in Lake Denham and Dabney aren't thrilled their neighbors paid $50,000 less for the same model home.
Average time on market is not a good indicator. Some homeowners are lucky to sell their home in a few days or weeks. Others have their homes sitting on the market much longer. You can't lump sales together and state "everything is great." Not to mention, there is NEVER a quarterly report that shows how many preowned homes did not sell within the contract time and were removed from the listings. Did those homes vanish? This report is an old marketing technique to sku your numbers so you look good. It in NO WAY tells the complete story.
|
IMHO there are still many overpriced resales. For a homeowner to expect to double their money in five or less years is now totally unrealistic. Those in TV who purchased their home when rates were 3% are not about to trade that for a 6% interest rate. There are still cash buyers who may be waiting for further price drops. In the past, many new homes were purchased by current homeowners. I have not seen a 50k reduction on a new home by the Developer.
We had friends who recently looked at a new designer home with a 48,000 bond. The bond was a deal breaker for them. I understand their thinking. Overall, given the current economy and higher interest rates, I would rate the Developer’s first quarter results as above average.