Thursday, May 17, 2007

$175,000 Off? Centex, Say It Isn't So!



Sacramento Bee, June 2006:

Some Centex Homes buyers can get a $125,000 price break...[Jack] Pautsch [Sacramento division manager for Centex] said the deals reflect an oversupplied market and are likely to recede within weeks as builders slow construction.
Current Sacramento Centex ad:
You'll love savings a minimum of $30,000 and up to $175,000 on the home of your dreams - and choosing Centex is a great way to assure it's a lasting love affair. Come see how easy we're making it to live "Happily Ever After" this weekend at your favorite Centex neighborhood. Hurry for best selection and maximum savings!
Hurry folks, just a few days left! You just never know when these deals will disappear!

24 comments:

Lander said...

Tip of the hat to Patient Renter.

lexi said...

Gee whiz, that's really nice of
them to offer us such bargains.
They must be really nice people!
har d har har

Perfect Storm said...

The spin continues unabated, where is the ethics, maybe James can help us out here since he is so innocent. How many people have false allegations against you James?

Perfect Storm said...

Centex has a lot of room to cut and in the process drive down the resale maket. Go Centex Go.

whatsthis said...

Perfect storm, we cant be negative all the time. Be positive, Ok Centex is doing something good right? I doubt it. But maybe James can help us get a loan, to be honest it wouldn't be a good idea. I enjoy a good laugh though. Maybe Bernstein can do a story on Centex on whats really the story behind the 175k off.

norcaljeff said...

It's becoming an annual thing, maybe they ought to call it the "Annual Spring 40% off sale" LOL.
I thought they've gone as high as $200K off? I know JTS did/is having that sale.

whatsthis said...

The fraud grove Blog is getting crazy people.

Sittin' Out This One said...

Lexi says

"Gee whiz, that's really nice of
them to offer us such bargains."

I must tell you Lexi, the foreclosing lenders are even nicer than Centex. $420,000 for a Centex home that sold or $665,000 in 2005. That is $245,000 off the old price.

Hey, when banks compete, you win.

Gwynster said...

Thanks Cmyst for the feedback on the Mack area homes. Those weren't even in the running for us but I was trying to figure out why anyone would buy there.

What I want to know is if the $30k off applies to the new courtyard homes in Woodland?

Wonder if KB will cut their prices again to compete?

Perfect Storm said...

Gwnyster,

I cannot imagine why anybody would live off of Mack road or in all of South Sacramento, however the home prices in South Sacramento are getting crushed and will continue to fall. There were a ton of idiots who bought in this area either to invest or because they believed all the realtor spin, well now they are stuck.

Perfect Storm said...

"Perfect storm, we cant be negative all the time."

Yeah I can, if Lander would not delete my stuff I could become real negative, however I do enjoy the commentary from pro housing bloggers, just ask Sippin. James is a special case since he is local media star and should be keeping his mouth shut until he meets the end of this thing he is dealing with, whatever end that may be.

His comments should be to the press that the situiation is trivial and will be resolved shortly. James you don't have the "Stugots" to handle this situiation.

However, James feel free to comment I know other bloggers want to hear what you have to say.

Oh by the way make no mistake about it I am doom and gloom all the way. I think a lot of good will come out of this housing mess, such as the majority of real estate transactions will be performed by discount real estate brokers who operate like that guy on 60 minutes and the 6% commission will be no more.

Housing/Mortgage Doom 2007.

Were right on track for a 50% decline by 2009.

lexi said...

sittin' out this one said:
I must tell you Lexi, the foreclosing lenders are even nicer than Centex. $420,000 for a Centex home that sold or $665,000 in 2005. That is $245,000 off the old price"

It's finally starting to happen!

Gwynster said...

SacBee covers the local builders working to undercut the big national HBs
http://www.sacbee.com/103/story/184421.html

norcaljeff said...

Gwyn, great article.
Lander, you ought to post that one. The marketing analyst said 30% of buyers are gone now due to higher credit restrictions. That's freaking amazing, we're just starting this RE landslide, no pun intended. Those repos and REOs are going to really undercut everyone, then the new HB and the resales will have to end up competing as well. Damn I'm glad I don't own RE, and the stock market just keeps on jumping up.

anon1137 said...

Sac Bee, June 2008, Centex ad:

Going Out of Business!!! Everything Must Go!! Centex is liquidating all remaining inventory!! We won't be undersold (even by our previous customers)!! Save $100K, $200K, even $300K on your favorite Centex big stucco box!! Hurry for best selection and maximum savings!!

Sorry, couldn't resist that.

Patient Renter said...

Anon, you're a visionary! Tell me more about the future, does Ron Paul have a chance in hell at the GOP nomination? (He's the topic of the day at Mish's blog.) I'll think I'll shed a tear if/when he gets killed.

Gwynster said...
This comment has been removed by the author.
Gwynster said...

So he's a L trying to run on the R ticket? I'd never heard of him before.

I'll have to go back to reading Wonkette again now. It's that special time which occurs every four years like clockwork and it's going to get interesting.

and housing related....Damn you KB, drop your prices again already! Not that I want to buy your houses. I just want the local salespeople good and primed before my next visit.

Cmyst said...

I heard of Ron Paul when a few conservatives were mentioning him as a straight-talker that they could support. Of course, I interpreted that to mean he was a total wingnut, but it looks like I was wrong. In the last GOP debate, he actually was expounding in a thoughtful and informed way on the Iraq War....so Guiliani started shaking his fist and screaming "9/11!" of course, and then everyone threw pies at him.

Patient Renter said...

"So he's a L trying to run on the R ticket? I'd never heard of him before. "

Yep. I first heard of him through posts on Mish's blog. He seems to have a better grasp on economic and monetary issues than any politician in Washington, which makes him pretty popular around the economics blogs.

paranoid renter said...

Just contacted Elliot homes about their development in Roseville. They have only one home left in the smallest plan (~1900 sq ft) and they have priced it at ~600K.

It looks like prices are holding up pretty nicely in that area of Roseville.

Wonder what happens next. The rents are definitely on the rise in my apt complex.

I am dying to see prices fall to something realistic, but it just doesn't seem to want to happen.

norcalray said...

Saw a listing on CL for a Roseville home for $ 699K for 3800 sq. ft. house. Seems fairly cheap although who wants a house that big. Prices are coming down.

norcaljeff said...

PR: Elliott is on crack, no way that home sells for $600K.

Patient Renter said...

"I'll have to go back to reading Wonkette again now. It's that special time which occurs every four years like clockwork and it's going to get interesting."

I just came across an old Wonkette post that supports Ron Paul for 2008. It was right after he declared his candidacy.