Looking to buy a house in Sacramento?
Its no secret that the housing market has been slowing over the past 6-9 months here in Sacramento. I was very actively lookign into getting a house around April/May of 2005; but just coudn’t justify the ‘outrageous’ prices back then. Well; it looks like it was a wise choice to wait. The so called ‘housing bubble’ that analysts have been talking about has finally burst. Centex homes is offering $100k off on their new homes as part of a special 2 day sale.
Imagine being a homeowner who bought those same homes last year. Your home has just lost $100k. If you had to sell your home; why would anyone but yours when they could buy a brand spanking new one for $100,000 less. Its things like that which are going to finally lead to the ‘housing bubble’ we have been hearing so much about. Just think for a second; how can Centex afford to price down this home $100,000. Does that mean they are going to lose $100,000 on this house? Most likely; they are going to have to give up the $100k profit they were going to make on this house. The housing prices in Sacramento (Northern California) have been insane for the past 2-3 years. It is about time that we start seeing discounts like this!
Add comment May 2nd, 2006