Huh! Real Estate Bouncing?
#1
Posted 24 May 2007 - 09:38 AM
I suspect that they just dropped prices and pushed hard to get some inventory off their hands.
I doubt we'll see that in existing homes...
Mark
Mark S Young
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#2
Posted 24 May 2007 - 09:49 AM
#3
Posted 24 May 2007 - 09:50 AM
Edited by spielchekr, 24 May 2007 - 09:50 AM.
#4
Posted 24 May 2007 - 09:51 AM
April new-home sales in U.S. unexpectedly leap 16%
I suspect that they just dropped prices and pushed hard to get some inventory off their hands.
I doubt we'll see that in existing homes...
Mark
The builders have so many tricks up their sleeves with throwing in free uprgades, cash back incentives, rate buy downs that these numbers are easily maipulated.
I did 20 properties in Phoenix in Feb where the builder offered a huge cash back incentive!
#5
Posted 24 May 2007 - 10:08 AM
#6
Posted 24 May 2007 - 10:11 AM
Mark S Young
Wall Street Sentiment
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#7
Posted 24 May 2007 - 10:27 AM
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#8
Posted 24 May 2007 - 10:40 AM
#9
Posted 24 May 2007 - 11:20 AM
So I gather, IC.
I put myself in a builder's shoes. I've cut every cost I can, and I'm sitting on a several million in homes, OR, I've got lots that I have to sell and equipment and staff and debt that I have to take care of. If I want to stay in business, I have to do SOMETHING to get rid of the inventory and keep my people busy and pay down or just service debt. I NEED to do that, I DON'T NEED to make a profit initially. I just want to hang on.
I also bet that there's some shady stuff going on, too. Maybe some risk financings by the builders themselves.
I'm sure that there's plenty of stuff that they can do, too, to dump homes on folks without it looking like huge price cuts to the outside world, or their banks.
Meanwhile, I'm just not seeing much activity by realtors in re the places for sale around here. I actually hope it's better elsewhere (I mean besides Semi's neighborhood ).
Mark
In Vegas there are entire neighboorhoods for Sale I am not kidding either. I heard 40% of the houses for sale are vacant..which scares the bejesus out of me! My house has been on the mkt for 3 months priced a little over a mill and I even offered to throw in their choice of a porsche, jag, s-500 or hummer and still havnt had a bite! I am even offering a MONSTER 6% commission to the buyers agent!
I shorted that SRS fund two days ago in my IRA. this decline is going to go for a long long time
#10
Posted 24 May 2007 - 12:07 PM
Edited by Data, 24 May 2007 - 12:07 PM.