Weekend Open Discussion
What's on your mind?
Tell us what is going on in your local area. Observations about recent news stories, open house reports, real estate water cooler talk, etc. Special brownie points for anyone that reports on the Sacramento Centex 12-hour sale!
12 comments:
Did I mention that the Centex 12-hour sale is tomorrow?
Lander:
Maybe once or twice....
Couple of thoughts:
When does CENTEX run its next "sale"? I'll guess March 4th.
Who blinks next? Take your pick. better keep a scorecard.
The effect of 50k-150k cuts by the big boys? Priceless!
What's this Sacramento place you keep talking about? Is it anywhere near California? Does anything that goes on there have any influence on California?
What's this Sacramento place you keep talking about? Is it anywhere near California?
Somewhere between San Francisco & New York.
Does anything that goes on there have any influence on California?
No. We live in a bubble.
It may not be 150k, but...
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Robert and Lander:
With all due respect, its generally referred to as "somewhere between San Francisco and Lake Tahoe". In the past it was used by Bay Area people as a pit stop, but only if they HAD to.
Now, however, its also a Bay Area housing investor's dream. Prices are SO MUCH cheaper than the Bay Area, they can't resist, they buy two.
As to any influence on California, not really, it's the state capital and nothing really gets done there anyway.
But, with the rising inventory, developer cuts, and falling sale prices it may become a leading indicator for the shit-has-hit-the fan scenario.
Chance to win a diamond? That's pathetic.
I'm gonna' negotiate a free granite counter-top, or maybe a carpet upgrade. Dare I demand both?
Upon further review, I'll sit this dance out.
Ohhhh that Sacramento. Can you imagine explaining to the New England Satas about our government? Tell them that 20 million citizens live more than 450 miles away from the Capital? Yeah, Boston to Washington D.C.
I think you are correct. Sacto is the zipperhead. The housing bubble will start unzipping there and run down through Fresno, Bakersfield, LA and SD.
WB58 News just had an upbeat piece on the Centex 12-hour sale. According to the Centex spokesman(?) now is a perfect time to buy a house.
The very next segment was on...foreclosures!
So how many houses did Centex sell?
I wish I knew. I don't have a source in Centex, yet ;-)
The news segment made it sound quite successful, but no specifics.
When I went to the January one in Modesto, I learned that the sale applied to very few houses in any subdivision. In one tract, only ONE house was offered with the sale incentives (which were $40k in Modesto); in the other tract, about 8 houses had the incentives. The "sale" was basically a schtick to bring buyers in so they could be sold other houses.
Those two tracts were both quite lively, though the free buffet didn't hurt.
We checked out a couple rival developments the same afternoon, and those were very quiet. I know at least one other set of "lookers" were just there for free entertainment because they were people we knew. (Cruising model homes for free entertainment has replaced the promenade around the village square in Modesto.)
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