Bridog
Posts:60
 | | 11/03/2007 1:41 AM |
 Alert | Just some good new for those of us that are home owners in the area.
I am a Realtor in the area, pretty much only sell new builds. (buyer broker, not a seller broker).
Anyway, keeping up to date on the best prices for my clients is my number 1 priority.
As of 2 days ago, DRHorton raised the base prices in their Continental series by about 10k per house.(that equals about 1/6 of the subdivisions in Maricopa) In some of their smaller homes (trailhead) the increase equaled almost 10%.
This doesn't mean that the market is changing by any means, the next few months will tell the story. IF DR doesn't drop the prices again in the next few months, and the other builders follow DRHorton's lead to raise prices (like they did in the price drops.)
Anyway, that is a lot of "if's" but I just wanted to shed a glimpse of the local market in my opinion.
<img src='http://www.85239.com/desktopmodules/ntforums/images/emoticons/biggrin.gif' height='20' width='20' border='0' title='Big Grin' align='absmiddle'> | | | |
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kjgreifer
Posts:0
| | 11/03/2007 8:13 AM |
Alert | DR's bonds were just reduced to junk bond status by S&P. They are going to need all the cash they can get their hands on since they will have trouble borrowing because of their bond status. They have some of the largest number of spec homes of any homebuilder.
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missPolitick
Posts:645
| | 11/03/2007 9:10 AM |
Alert | Way to be a buzzkill!  | |
Despite All My Rage I Am Still Just A Rat In A Cage | |
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mrwonderful
Posts:282
| | 11/03/2007 10:08 AM |
Alert | Truth brings many responses in different ways, some good and some unwanted. DRH and many other homebuilders are in the red ink beyond financial belief. When you pay interest based on your bond status "junk" then you may well need to increase prices to cover additional interest rate increases.
I have always wondered why a person uses a real estate agent to purchase a new home. It is basically a contract between the buyer and the builder, thus the r/e agent boosts the price affecting the builders bottom line and increasing the final sale price for the buyer. | | | |
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Bridog
Posts:60
| | 11/03/2007 6:26 PM |
Alert | We could debate the use of a Realtor all day.
Some people may not need to use one. If someone calls me and wants bang for their buck, I know where to take them.
If you havent noticed, most of the builder's signs "starting in the mid 100's" are incorrect. The homes may be starting in the 110's
Some builders won't give you the commission saved by NOT bringing one.
Some builders have "pocket money" which is usually 5 or 10k. They dont mention that when Joe Blow walks in and asks what the prices are. A local Realtor knows about it and asks for it right off the bat.
Also, if the price or incentive changes during the contract, the Realtor may have a better chance to get it rewritten for you with the better price, since he may bring a lot of clients in.
If someone feels comfortable doing everything by themselves, then thats ok too
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Colgate
Posts:642
| | 11/03/2007 7:41 PM |
Alert | | It would be nice if all the builders follow suit! The market has been down a while and just a little jump would be nice for all of us homeowners but, I think it will take just a bit more than that to lift the spirits around here. | |
Live every day as if it were your last and smile! | |
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Bionicbunny
Posts:644
| | 11/05/2007 3:42 PM |
Alert | | personally, I think that the fires in CA will bring in new buyers. It did last time. | | | |
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Reagan
Posts:745
| | 11/27/2007 9:07 AM |
Alert | Doesn't appear others are following suit.
We just checked the current Pulte prices online. They have recently done a price cut, and also added a smaller model into the mix. This is the Cactus series. The larger series didn't do a price cut I believe. I was hoping the prices would start going back up but I guess its is still going to take some time.
Anyone know about any other builders in town? Did DR Horton's price increase remain? | |
Welfare's purpose should be to eliminate, as far as possible, the need for its own existence.
Reagan, Los Angeles Times, January 7, 1970 | |
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smalltowngal
Posts:27
| | 11/30/2007 5:19 AM |
Alert | | We took our realtor with us when we bought our new spec home. She researched all builders, and all forclosed homes. We looked at over 12 homes in a day until we found this spec home. She negotiated a lower rate for us, and went with us on the inspections to make sure everything was how it should be (she saw things that we never thought of). I would always use a realtor when buying a new home. | | | |
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theotheramy
Posts:141
| | 11/30/2007 7:34 AM |
Alert | <div class='NTForums_Quote'>Posted By Reagan on 11/27/2007 9:07 AM
Doesn't appear others are following suit.
We just checked the current Pulte prices online. They have recently done a price cut, and also added a smaller model into the mix. This is the Cactus series. The larger series didn't do a price cut I believe. I was hoping the prices would start going back up but I guess its is still going to take some time.
Anyone know about any other builders in town? Did DR Horton's price increase remain?</div>
I believe their prices have held steady. My husband picked up a pricing sheet for our series the other day out of curiousity and the prices weren't much different than when we bought 8 months ago, which was a pleasant surprise...
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bear down
Posts:62
| | 11/30/2007 9:36 AM |
Alert | | mr wonderful - the price is not affected whether you use a realtor or not. The builder factors in a certain % that will be realtor represented and puts that into their formula. The price stays the same with or without a realtor. | | | |
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LeonPotter
Posts:653
| | 11/30/2007 11:35 AM |
Alert | It doesn't matter to me if prices go up or down. One could "win" either way. Home values go up then I might consider selling. If home prices go down I might consider buying. In the meantime, that deal is done.
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My answer WAS "NO" to Q#5 and Q#1.
Proverbs 22:7
The rich ruleth over the poor and the borrower is servant to the lender. | |
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Bridog
Posts:60
| | 11/30/2007 10:33 PM |
Alert |
| yes, the increases stayed, then DR raised the prices by another 1k on Friday, and another 1k on Monday. They also reduced the incentives by 5k-20k based on the line of homes | | | |
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Bridog
Posts:60
| | 11/30/2007 10:40 PM |
Alert | centex was supposed to take an increase this weekend also.
Please keep in mind most builders dont put the incentives on their site. They change so frequently that getting them in person is they way to do it. | | | |
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riverar7
Posts:14
| | 01/05/2008 12:40 AM |
Alert | | Just recently following their prices I noticed a big price drop of around 40-50k. especially homestead. Now that was sudden. Wow! | | | |
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dkmopars
Posts:30
| | 01/05/2008 5:24 AM |
Alert | | I am also in the New Home business, and I can tell you that KB Homes at Desert Passage is also going to be raising their prices, they should have the new prices within a few days. And they have pulled all their incentives. It's a new year, and the builders have 12 months to sell their homes.... they are hoping to start to drive the market back upward and figure they have reached their bottem pricing. | | | |
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TortosaGuy
Posts:725
| | 01/05/2008 8:44 AM |
Alert | | i dont think it was just DR HORTON....builders talk amongst each other and decide on these things jointly in many cases....our elite communities homes in tortosa went up a couple of days ago also | |
*formerly known as inyrfce2*
Senior Member
Posts: 797
Joined: Dec 2006 | |
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GilaGuy
Posts:789
| | 01/05/2008 4:53 PM |
Alert | <div class='NTForums_Quote'>Posted By dkmopars on 01/05/2008 5:24 AM
It's a new year, and the builders have 12 months to sell their homes.... they are hoping to start to drive the market back upward and figure they have reached their bottem pricing.</div>
Ahh yes, but it's also an election year...a time where history has shown a tendency for people to hold onto their money until the direction of the country is known. Not to mention all the recessionary pressure that has befallen the country of late. It's a pretty gutsy move of the builders to raise prices at this time...after all, they do not have the power to drive a market back upward. That part is the job of the consumer. ;-)
Oh, the joy of Economics. ;-) | | | |
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alwaysamytoo
Posts:0
| | 01/06/2008 9:16 AM |
Alert | | Well,not yet ready to sell, but have been offered by 3 different homeowners to buy our home (It's the back yard I think) Looking at next years after we are more stable in the business, The off to Glenwild we will go so the grand babies can trot offer to Nanny's and Poppy's. Plus our other daughter will be moving here with her husband as well so we can all be close. | | | |
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shannon77
Posts:60
| | 01/07/2008 11:43 AM |
Alert | | How are they driving up the prices by going lower? Centex and DR Horton are at the lowest I have ever seen them. | | | |
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