not infill your knowledge about infilling...
Said they:
"Developers can buy the finished lots for a fraction of what they sold for a few years ago, and the cost-per-square-foot to build a house has plunged"
No permits to buy & wait for, no land to develop, no utilities to pay for & install, no amenities to pay for...
no upfront costs.
Just find a buyer with a pre-approved mortgage to pay for it, and build to their specs.
MOG, what fun.
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- JGBHimself
- May-29 @ 3:56 PM
Obviously, very good news, for the builders, the pre-existing home owners in the subdivisions, and the "new home buyers" using the Tax Credits.
However, please notice the sharp decline in new permits.
That, along with the news that purchase mortgage apps declined in May to a 13 year low, might lead some of U.S. to a rather different conclusion.
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However, please notice the sharp decline in new permits.
That, along with the news that purchase mortgage apps declined in May to a 13 year low, might lead some of U.S. to a rather different conclusion.
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- JGBHimself
- May-29 @ 4:10 PM
Also, please note:
"Developers can buy the finished lots for a fraction of what they sold for a few years ago, and the cost-per-square-foot to build a house has plunged"
What THAT means is that existing homes - sold in sand states, during the dead years, and very much underwater..., are NOW being undermined by newly constructed homes as much as they were/are by "foreclosures".
THAT probably will force far more walkaways/strategic defaults, bcuz your home will never, EVER be as affordable as these new homes are now.
Depressing the AZ housing economy, for years....!
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New homes being sold again in distressed Gilbert area
2010 Gilbert residential permit activity
Permits issued (before construction begins)
• January: 128.
• February: 132.
• March: 160.
• April: 82.
• May: 65.
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