Portola Springs - Sendero

NEW -> Contingent Buyer Assistance Program
"Laing will apparently put the guarantee in writing, others won't, but it all comes down to the size of your deposit. "





That reminds of me of an article or video I saw where Ara Hovnanian indicated that buyers were walking away at closing and that they were making deals at the closing table and "doing whatever they could" to make sure the deal closed. It makes me wonder what the real price of a K. Hov home <em>could</em> be.





And with Laing putting the guarantee in writing, they are guaranteeing that I won't be buying in Stonetree regardless of how much I want to. Their (advertised) prices actually have gone <em>up</em> $50K since I first looked there.
 
On behalf of housing bears everywhere I'd like to accept red's complement. Most of us are willing to revise our opinions based on new evidence. I have never heard a bear say "It's always a bad time to buy" or "real estate is always a bad investment."
 
<p>And I added an important qualifier....<strong>in a while</strong>. It's been horrible until lately, and now it's just OK if you have a long enough window until close of escrow. I still don't think it's a good time to plunk down a deposit, it is just staring to head in the right direction.</p>

<p>You can still chalk me up as a bear, but like bigmoney, a rational one willing to look at new evidence.</p>

<p>SCHB</p>
 
The main reason I am blogging here is actually to find up-to-date info regarding new home market. So many thanks to zovall providing this blog. It's excellent.





Regarding the bulls vs bear game, I honestly dont really know how to judge winners or losers unless we are all willing to stick around for long enough. 2007 may end up being a great year only to find a huge crash in 2010, and vice versa.





With my personality (and luck), I will probably end up "loosing financially" when it comes to finding a home. I hate buying in a frenzy market so I actually welcome this sluggish market so at least we can take our time finding the perfect home. The good thing going for us is we do have some equity now so we may be able to weather some storms down the road although probably not if it is one as big as IrvineRenter's or crucialtaunt's scenario :)
 
got an email from sales last week saying 3 homes are available... i think there were only 6 total homes for the 1st release. sales are sloooooooow...
 
<p>Word through the grapevine is they have experienced a lot of "churn" on their reservations. All 6 of the first release apparently were reserved or deposited at some point, more than 3 have fell through, and a couple of those were picked up by new buyers.</p>

<p>The current net is that 3 of the 6 are still available, which has got to be depressing for them given their original grand-opening delay from October. I wonder how long Laing can afford to pay two salespeople to stand around and not sell anything (even though this is a pricing issue, not a salesperson competence issue).</p>

<p>Considering how busy their January grand opening was, this shows that buyers can sense that prices are only going to drop.</p>

<p>SCHB</p>
 
<p>Some of them may have been "reservations," which is the pre-deposit couple-a-days. I don't know what their exact threshold for calling it sold is.</p>

<p>Are you sure Sendero has a $20k deposit? If so, that should be added to the master first post.</p>

<p>SCHB</p>
 
It looks like some of their prices may have dropped. I just got this listing in my E-mail for $507,880. Last Time i went they were $532,000. <a href="http://homeseekers.com/Scripts/detail.asp?_org_id=oc&_cstm=0&mls_property_id=S484587&_lid=0&_ver=5">http://homeseekers.com/Scripts/detail.asp?_org_id=oc&_cstm=0&mls_property_id=S484587&_lid=0&_ver=5</a>
 
<p>So at first glance... 507k seems pretty good for 1300sqft</p>

<p>but after calculating the Tax + Mello Roos + SubHOA + MasterHOA, it comes out to an extra $1146/month BEFORE mortgage. good lord!! that's a lot of shopping i could be doing.......</p>
 
<p>mk9,</p>

<p>You reminded me of my brother. He has been complaining about how expensive housing cost is since 1990. My brother still has not bought!</p>

<p> </p>
 
And your point is? I'm sorry but those mello roos and HOA fees are indeed ridiculous. If you bought a home without those added fees, you could get a home worth over $100,000 more for the same monthly payment.





You reminded me of Gary Watts.
 
<p>I listened to Gary Watts twice, he was actually very entertaining.</p>

<p>My point is you either find good reasons to buy, OR you can find good reasons NOT to buy. The choice is yours. It's logical.</p>

<p>Also, you get what you paid for. That is what people say.</p>
 
<em>"My point is you either find good reasons to buy, OR you can find good reasons NOT to buy. The choice is yours. It's logical."</em>





Losing large amounts of money is no trivial reason not to buy. This isn't an exercise in debating over whether you like red or blue. The consequences for the people is very real.





Gary Watts probably is entertaining. I imagine he is not well respected by the bears on this board. Personally, I have read his 2007 outlook report. It is some of the most clueless drivel I have ever encountered.
 
<p>IR,</p>

<p>I agree with you. Who would want to lose money?</p>

<p>Gary Watts puts up a very good show (as good as Jay Leno's). I laughed the whole time. It costs only $10 for his show and it comes with breakfast, well worth it. If you are interested, I will let you know when his next show is.</p>
 
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