They did overbuild and there are hundreds of empty homes, blocks and blocks in Collier, Hillsboro and south. It is sort of spooky driving through miles of empty homes.
I really think they shot themselves in the foot when they built out all inventory. The sales numbers are certainly off. They previously created a feeling of urgency with sales, which now does not exist.
More concerning to us is the fact that they are reducing the sales price on homes. We could buy a comparable home for much less than we paid. Don't get me wrong, we love our home and feel very fortunate to have been able to design our own. But it is hard to watch the value decrease.
Hopefully they have a good winter and sales activity will increase as well as prices.
We have so much tied up in this home, as we paid cash, it would have been better off in
the S & P 500 for another year. And we would have gotten a free golf cart!
I'm really not all that negative....I just wish we had some equity at this point!
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