Quote:
Originally Posted by justjim
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.
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Agree with most of what you said. However, some homes in Lake Denham and Dabney were indeed reduced by $50,000. My daughter looked at one because the price intrigued her. The sales rep told her the developer was eager to unload the inventory.She did not purchase because she felt the prices may go lower. She did not want to live in an area where she paid more for a home than neighbors.