The two-year housing decline is worsening

[almaty 19]

You could always move to Arizona like all the other priced out SoCal'ers

why have him stop there? I heard the south has some very affordable areas.

eg, Arkansas/Alabama/Louisiana/etc..

Daniel

:energetic:

damn brother daniel, but those good ol' boys have fun with my brother arijit...he learn the meaning of squeal like a pig

[w¡n9Nµ7 §£@¥€r 123]

almaty,

stop watching reruns of deliverance. i know thats how you get your jollies, but really. stop

[Ban Hammer 13,365]

almaty,

stop watching reruns of deliverance. i know thats how you get your jollies, but really. stop

squeal for almaty, arjit

[almaty 19]

almaty,

stop watching reruns of deliverance. i know thats how you get your jollies, but really. stop

damn man, i come from the south..and it reminds me of the high school senior picnic....

[Jasman0717 9]

Been through this before, housing prices will go back up......just hope they do before it is time for me to retire

[Fandango 1,439]

My apologies. I did not notice that you contradicted yourself later

It wasn't a contradiction...it was a usually-should-go-without-saying-but-I'll-make-a-formal-exception-for-the-excessively-literal

I've been repeating myself in this thread for God knows how many pages, so if you want more of a response to everything in your post, just check for some of my other posts here

[w¡n9Nµ7 §£@¥€r 123]

Hovnanian Sells 2,100 homes in 3 Days

Hovnanian Enterprises announced Monday that its "Deal of the Century" three day sales promotion led to 2,100 home sales, beating their own expectations. The sales included about 1,700 contracts and about 400 sales deposits. CEO Ara Hovnanian, "The high level of traffic we saw in our sales offices and models over the weekend and over the past several weeks convinces us that there are interested buyers in the market today." Vicki Bryan, senior analyst at Gimme Credit noted, "Even if one third of those sales cancel, in line with industry and Hovnanian trends over the past couple of quarters, Hovnanian may be on track in just one weekend to meet 39 percent of its fiscal fourth quarter estimate of 3,600 homes sold, and there are six weeks left in the quarter." In New Jersey and New York, buyers saved up to $149,600. Analysts were watching the outcome of the event, wondering if announced price specials are what it will take to bring nervous buyers out. Hovnanian shares rose 3.0% to $11.33 on Monday, and are up 13.0% in the last two days of trading.

[w¡n9Nµ7 §£@¥€r 123]

According to BusinessWeek's Hot Property blog, Hovnanian now has one of the lowest inventory levels in its history.

During a RE bear market, no less.

Wow!

Source: http://www.businessweek.com/the_thread/hot...eal_of_cen.html

Edited September 18, 2007 by VJ Troll

[russ 1]

According to BusinessWeek's Hot Property blog, Hovnanian now has one of the lowest inventory levels in its history.

Well, reading the article, a few facts. They were discounting 25% - up to $240,000. Which tells me these homes were listing at $1,000,000. They also were prime borrowers (~720 FICO), from a wealthy market (NJ and SoCal).

Assuming an average discount $150,000 on 1500 homes that is $225 million in profit they left on the table. The article says nothing about their financial state, but the firesale prices may have more to do with cash flow problems, and the need to get rid of what inventory they do have.

600K-1 Mil houses are not the average in the US - this is definitely the high end of the market - households making about $250K.

[mawilson 2,133]

According to BusinessWeek's Hot Property blog, Hovnanian now has one of the lowest inventory levels in its history.

I'm a little surprised that a company called "Hovnanian" could actually sell something.

[Fandango 1,439]

According to BusinessWeek's Hot Property blog, Hovnanian now has one of the lowest inventory levels in its history.

I'm a little surprised that a company called "Hovnanian" could actually sell something.

And see, for some reason, now I want a packet of HobNobs...

[mawilson 2,133]

According to BusinessWeek's Hot Property blog, Hovnanian now has one of the lowest inventory levels in its history.

I'm a little surprised that a company called "Hovnanian" could actually sell something.

And see, for some reason, now I want a packet of HobNobs...

[brtlmj 0]

My apologies. I did not notice that you contradicted yourself later

It wasn't a contradiction...it was a usually-should-go-without-saying-but-I'll-make-a-formal-exception-for-the-excessively-literal

When it comes to finances - especially buying a house - not being literal can cost you dearly

[brtlmj 0]

CEO Ara Hovnanian, "The high level of traffic we saw in our sales offices and models over the weekend and over the past several weeks convinces us that there are interested buyers in the market today."

There are, indeed. Just keep on lowering the prices, dear builders...

[Fandango 1,439]

My apologies. I did not notice that you contradicted yourself later

It wasn't a contradiction...it was a usually-should-go-without-saying-but-I'll-make-a-formal-exception-for-the-excessively-literal

When it comes to finances - especially buying a house - not being literal can cost you dearly

And that is so true, so when it comes to your own finances, one should never rely on a single poster on a messageboard who is involved in a speculative, general discussion which encompasses countless individual and varied markets...one should rather go to a financial advisor or licensed professional for guidance on one's own specific situation

Mark...gimme them damn HobKnobs! hahahahah