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Real Estate Market: $100K off of a New Home February 16, 2008

Posted by pf in Expenses and Savings, Home Purchase.
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As they often say, “real-estate is local”. Thus far, the local real-estate in my area has been fairly resistant to the types of price drops we have seen in some of the sunnier parts of the country (Florida, Nevada, Arizona, etc.)…until now.

Today, I saw an ad for $100K off the base price of newly built homes by a local builder. Wow. I suspect this ad sent shivers down many people’s spine:

  • A “shot across the bow” for other builders who will feel additional pressure on their own prices
  • A startling wake-up call for existing home owner’s who are trying to hang tight
  • A body blow for those who currently have their home for sale or soon will be
  • Absolute despair for those who recently purchased houses from this builder in the last year or so

Of course, not everyone is entirely unhappy…including me. As everyone who reads this blog is likely aware, I have been struggling over a potential home purchase for over a year now (Buying a More Expensive House: Update). Although the price drop from the builder is likely to affect my current house as well, I think this is easily offset by the money we could potentially save on the new house we have been considering.

I will continue to watch the situation slowly, but this may prove to be the beginning of a more sharp decline in our own real-estate market, which may in fact lead to a faster recovery. Admittedly, if that is the case, it would be a bit quicker than I had expected as I had anticipated 2008 to continue with a slow, but consistent decline.

Comments»

1. Buying A More Expensive House: Good Investment? « My Personal Finance Odyssey - February 24, 2008

[…] Real Estate Market: $100K off of a New Home […]

2. marcus anthony bynum - May 10, 2015

i looked at an article from the investors business daily paper 6 months ago there was an article about the ebola affect ,and a lot of hotel business not big business but business…..through the end of august we signed 360 deals for over 55,000 rooms ” said Anthony Capuano global chief development officer.. About 40 % of marriots pipeline he said , is for luxury and lifestyle brands – the latter one -of-a-kind hotels targeting specific customers……hotels learn to travel light … most of marriots nearly 4,100 hotels worldwide are franchised to third party owners operators, a so called asset light business model that other hotel chains have been copying….Now that was something from the real estate business 6 months ago… And now there are reits rebound :rate fears ease… by scott Stoddard at the investor business daily may 11, 2015 real estate investment trust have taken a beating the past few months amid fears that higher interest rates will lower their appeal…Reits typically borrow money to buy retail hotel and other properties, so higher interest rates tend to increase their debt – servicing costs ..Yet reits can benefit from higher interest rates to the extent that they reflect a growing economy, rising occupancy rates and higher rents…..some new lenders are trying to bounce back.. digital realty trust….. Lasalle hotel properties… National retal properties…….

3. marcus anthony bynum - May 10, 2015

the business will need to make application to the lender by providing them the documents they require .. Generally an application includes a business plan that explains what resources will be needed to accomplish the desired business purpose including the associated costs the applicants contributions , planned uses for the loan proceeds , a listing of the assets that will secure a loan (collateral), and most important , an explanation of how the business will be able to repay the loan in a timely manner…..by capital a source from the small business guide… Ardmore Oklahoma……

4. marcus anthony bynum - May 10, 2015

You can look at Sotheby”s international realty there are places like great oaks ranch.. four flat acres, toro canyon park road, designer vintage farm, panoramic views , French country style, Tuscan style home, castle in the clouds, and the ocean view estate …. also new at the vintage cottage charm…..

5. marcus anthony bynum - May 10, 2015

marketing and sales activities this section should contain a discussion of marketing and sales activities and how these activities will help you meet the sales and profit levels in you financial statements . marketing and sales strategies should be conveyed, as well as the keys to success in your competitive environment… an outline for a business plan…..

6. marcus anthony bynum - May 10, 2015

executive summary … the executive summary is probably the most important aspect of your plan.. it should communicate your company
‘s competence to be successful in a competitive market. it summarizes the other sections in your plan and should be written last…. by levern webb a counselor at scor small business administration……


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