New Construction Craze

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destinsm

Beach Lover
May 23, 2006
92
1
Last edited:
SHELLY

SHELLY

SoWal Insider
Jun 13, 2005
5,763
803
destinsm said:
Anybody see the new prices at Plantation of Santa Rosa???

DR Horton has three floorplans in there now ranging from $229,900 to $251,990....

They started at $299,900 not to long ago...

Will be interesting to see how a major national builder like this will effect the local market in this area...
Click to expand...

Overall, the big builders will crush their competition (existing home sales) every time. With all the investulating that went on over the past couple of years, builders sold homes to folks at substantial markups--those investulators are now the competition. Builders' profit margins were huge during the last couple years, so they can afford to narrow them to just about nothing until they are the last competitor standing...they must...because like a shark that needs to keep swimming to stay alive, if builders quit building, they die. Additionally, builders can now take advantage of lower material and labor prices that weren't available during the boom. But even with all this going for them, they are crying the blues...so it looks like there is more pain to come.

Moreover, builders are keenly aware of what carry costs do to their profits, unlike the many sellers today who just don't have a clue. So builders will be first to start slashing prices...that is after they get over cheezy come-ons for "upgrades" and the free granite countertop give-away.



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Miss Kitty

Miss Kitty

Meow
Jun 10, 2005
47,011
1,131
71
SHELLY...what kind of countertops do you have?
 
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