Caligirl43
Posts:382
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| 03/13/2009 2:41 PM |
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| This is happening tomorrow and Sunday in Southern California. They won't release the prices until they open for business tomorrow. Anybody have any idea how much they might be reducing their prices? Website for this is 2dayshortsale.com. |
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punstress
Posts:301
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| 03/13/2009 3:02 PM |
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| probably 2little2late |
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gman
Posts:3
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| 03/13/2009 3:06 PM |
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Perception is reality. They will see a major market slide as a minor correction and try to use the short sell ploy to get buyers excited enough to bid unrealistically. Hope people do their homework and buy with their heads not hearts.
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Caligirl43
Posts:382
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| 03/13/2009 3:15 PM |
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| Supposedly, the prices will compete with today's current short sales and foreclosures - i.e., they're desperate - though I doubt they'll be unloading their 350k houses for 250k, which is basically what you can get a similar and relatively new foreclosure for up in Riverside County. |
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jpinpb
Posts:4538
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| 03/13/2009 3:17 PM |
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| These auctions rarely work out. REDC is a joke and OPP's auction was a major flop. |
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Caligirl43
Posts:382
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| 03/13/2009 3:25 PM |
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| Yep, I've heard that REDC is a total scam! D.R. Horton's is not an auction though. |
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TotoMMB66
Posts:132
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| 03/13/2009 3:45 PM |
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| So, if it's "short sale-esque," does that mean they'll get back to potential purchasers 4 months later? |
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Caligirl43
Posts:382
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| 03/13/2009 3:51 PM |
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| Yeah really - that's funny - and pit offers against each other. |
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MWtoSD
Posts:1085
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| 03/14/2009 11:04 AM |
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| Does anyone know what the prices are for the two projects in SD area? Atlas is supposed to have 6 units and Seaside 9 units in Oceanside. It is not posted on the 2dayshortsale.com or on DRHorton's webpage. I think it would be good to have a record of the prices on here for knowledge about future sales price comparison. |
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Caligirl43
Posts:382
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| 03/14/2009 11:28 AM |
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| MW - You have to go to the sales offices to get the prices - they won't release them online. |
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MWtoSD
Posts:1085
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| 03/14/2009 12:25 PM |
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| Ok thanks Caligirl43, little problem is I am on the east coast and not in SD yet. Maybe someone else following the thread will get them and post the info. |
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Caligirl43
Posts:382
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| 03/14/2009 1:16 PM |
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| Yeah, that is a bit of a problem MW! |
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MWtoSD
Posts:1085
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| 03/14/2009 1:32 PM |
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| I thought they were ok, especially the ones with the view of downtown, but way over priced. I just would be curious to how much of a discount they are offering on each of the units in the complex. |
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MWtoSD
Posts:1085
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| 03/14/2009 1:34 PM |
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| Gee I just called the Atlas site, they must have razor thin margins if they are short selling at $15,000 off. That was the max discount!!! So unbelievable how small the discount was. At this time they sold 5 of the 6 units, I find it hard to believe. |
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punstress
Posts:301
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| 03/20/2009 6:32 PM |
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Anybody have more news about this? Anybody go to the event last weekend?
I see they link to an "Affordable Lending Solutions Application Document" -- this project includes (so-called) affordable units?! |
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dchestney
Posts:1268
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| 03/20/2009 8:47 PM |
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Posted By MWtoSD on 03/14/2009 1:34 PM
At this time they sold 5 of the 6 units, I find it hard to believe.
Something doesn't sound right. The "Short Sale" promotion at Atlas Hillcrest coincided with the near completion of their second building, the one fronting on Fifth Avenue. They just finished the sidewalk on Fifth last week and may have completed the sidewalk on Pennsylvania today; tall palm trees were put in on Fifth about 10 days ago when they finished the paint touch-up on the outside surfaces. I would assume that most of the units in THAT building are for sale--way more than 6 units.
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MWtoSD
Posts:1085
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| 03/20/2009 9:36 PM |
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| I did NOT confirm if it was Phase 1 or Phase 2. Their ad said only 6 units at the Atlas were for "short sale promotion", I made the **assumptions** it was from the first phase and they wanted to get rid of the last remaining units from Phase 1. When I called just out of curiosity, the woman that answered the phone said they only had one out of the six remaining at the short sale price. I asked how much of a discount and she said $15,000 (sold 5 in 4.5 hours - I really do find it hard to believe with such a poor discount). I asked if the others had a greater discount and is why they went first, she said no, I then asked so they were not $50,000 or $100,000 off and she said no way. . All of them were $15,000 off. That would have been a real short sale price :-), but even at that I still think they may be over priced. |
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MWtoSD
Posts:1085
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| 03/20/2009 9:38 PM |
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| However, I would be curious if anyone did go to the sale and can post which units they were and their prices just to track and see if they actually close and at what price. |
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MWtoSD
Posts:1085
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| 03/20/2009 9:56 PM |
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| Here are 2 screen caps of their website (2dayshortsale.com) incase they take it down or change it. Again my assumption was since they only had 6 units for short sale it was in the older phase to finish it out - they would have many more units to sell in the new phase. I do not think they would lower the prices on the new phase yet since their website for Atlas says new models opening March '09. D.R. Horton in SD seems to have a history of waiting until the last minute (before they reduce prices) and then ultimately have the remaining units go for auction. |
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MWtoSD
Posts:1085
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| 03/20/2009 9:56 PM |
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| Here are 2 screen caps of their website (2dayshortsale.com) incase they take it down or change it. Again my assumption was since they only had 6 units for short sale it was in the older phase to finish it out - they would have many more units to sell in the new phase. I do not think they would lower the prices on the new phase yet since their website for Atlas says new models opening March '09. D.R. Horton in SD seems to have a history of waiting until the last minute (before they reduce prices) and then ultimately have the remaining units go for auction. |
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