A sense the housing market has bottomed.
- Thread starter S2007S
- Start date
So if the property taxes will be higher, why do these fools agree to a rebate, instead of just paying the lower price?
Because the builder won't let them.
That's because if the builder sells for the lower price, and has more homes to sell in the subdivision, any additional mortgage applications prospective buyers submit will be based for approval on 'comps,' or what comparable homes sold for.
It also makes the builders books look better at quarter end, because they can play games with the rebates to show revenues in a variety of ways.
I obviously haven't heard all his quotes then. Every time I see a quote from him, its usually, "we don't see a bottom yet". Of course, I usually only hear about the guy when reading housingbubbleblog.com, and they rarely print the rosy quotes.
Thanks, for bringing this to my attention. I will filter what Robert Toll has to say from now on.
Hiya everybody I'm new here.
My name's Alt-A.
Read and reread about me:
"A mortgage risk categorization that falls between prime and sub-prime, but is closer to prime. Also referred to as "A minus"."
Be seeing you real soon.
My name's Alt-A.
Read and reread about me:
"A mortgage risk categorization that falls between prime and sub-prime, but is closer to prime. Also referred to as "A minus"."
Be seeing you real soon.
In my area of florida, taxes are based on fair market value. Closing price is one factor.
When it comes to time to argue taxable value you may use resales to establish your estimate of fair market value.
Then if you smart you also argue that the taxable value should only be 6-70 percent of that number and you provide stats to back your point up.
So it does not matter what the builders are getting in fla if resales are lower. And right now resales are lower.
When it comes to time to argue taxable value you may use resales to establish your estimate of fair market value.
Then if you smart you also argue that the taxable value should only be 6-70 percent of that number and you provide stats to back your point up.
So it does not matter what the builders are getting in fla if resales are lower. And right now resales are lower.
Quote from Trader5287:
Hiya everybody I'm new here.
My name's Alt-A.
Read and reread about me:
"A mortgage risk categorization that falls between prime and sub-prime, but is closer to prime. Also referred to as "A minus"."
Be seeing you real soon.
did the mess in the sub primes spill over to you???
nah..that couldn't be possible..
More of the same from the folks who know:
Hovnanian Doesn't Expect Quick Recovery
Friday March 9, 4:08 pm ET
By Janet Frankston Lorin, Associated Press Writer
Hovnanian Doesn't Expect Quick Recovery in Housing Slump
NEWARK, N.J. (AP) -- A day after homebuilder Hovnanian Enterprises Inc. reported a second consecutive quarterly loss, its chief executive officer said he doesn't expect a quick recovery to the housing slump.
President and Chief Executive Ara K. Hovnanian also said the company has not yet seen the bottom of the housing market slowdown.
"It's not getting worse, and it is slow but steady," he said Friday in a conference call with analysts.
http://biz.yahoo.com/ap/070309/hovnanian_housing_market.html?.v=1&printer=1
Hovnanian Doesn't Expect Quick Recovery
Friday March 9, 4:08 pm ET
By Janet Frankston Lorin, Associated Press Writer
Hovnanian Doesn't Expect Quick Recovery in Housing Slump
NEWARK, N.J. (AP) -- A day after homebuilder Hovnanian Enterprises Inc. reported a second consecutive quarterly loss, its chief executive officer said he doesn't expect a quick recovery to the housing slump.
President and Chief Executive Ara K. Hovnanian also said the company has not yet seen the bottom of the housing market slowdown.
"It's not getting worse, and it is slow but steady," he said Friday in a conference call with analysts.
http://biz.yahoo.com/ap/070309/hovnanian_housing_market.html?.v=1&printer=1
ALL BUSINESS: Homebuilder Talks StraightQuote from TM_Direct:
No he didn't...he said IT SUCKS!!!!!!!!
Friday March 9, 12:23 pm ET
By Rachel Beck, AP Business Writer
ALL BUSINESS: D.H. Horton's CEO Breaks Out of Housing Bust Spin Game With Negative View
NEW YORK (AP) -- D.H. Horton Inc.'s CEO Donald J. Tomnitz said what most others in the housing business wouldn't when he proclaimed on Wednesday that 2007 "is going to suck, all 12 months of the calendar year."
His blunt assessment contrasted with much of the spin that has been coming from lenders, realtors, trade groups, home builders and others in recent months. There haven't been many straight shooters discussing the housing and mortgage market collapse...
http://biz.yahoo.com/ap/070309/all_business.html?.v=1&printer=1