We made an offer where we asked for some "free" upgrades. We hope it will be accepted or that we are allowed to negotiate.
Buyers are very hard to find, builders have a difficult time (especially in Arizona) and have some cashflow issues. We want to take advantage of that.
It will probably be the most expensive house that will be build in Maricopa in 2008 (the start of the post bubble era). Which from an investor standpoint of view is not such a good move. You'd rather want to own a low-class home in a fancy neighbourhood instead of an upscale home in a low-class neighbourhood. The high price is caused by the high premium of the lot. Americans don't want to pay extra for land. We are Belgians, we don't mind. Land prices in Belgium are (change that to "were" for the foreseeable future) extremely expensive and for that $225 / m2 lot you have a view on a "Discount Profi"...
Prices in Maricopa have dropped 40% the last 18 months and are at 2003/2004 levels. Half of Maricopa is for sale right now .. and the other half is auctioned off :-)
I remember in 2004-2005 hundreds of homes sold each month ... link
Will it go lower? Probably, but we will pay a price that is reasonable, with a low interest rate and on the dreamlot we have always wanted.
If we are able to buy the home, we will not visit Belgium this summer. We'll be busy moving. Our lease ends at the end of June.
The builder of our rental home just went bankrupt ... LINK
Holy cow: Countrywide: 1 in 3 subprime mortgages delinquent
Countrywide Financial Corp, the largest U.S. mortgage lender, on Tuesday said more than one in three subprime mortgages were delinquent at year-end in the $1.48 billion portfolio of home loans it services.
That's what I would call "tight" lending standards ...
2 comments:
Whaw, very exciting! Do you have a link to (a plan of) the house itself? Hope that you will get it, despite all financial considerations the most important thing is that this is the house you always wanted to live in, not sure how to translate subjectieve waarde but you know what i mean;-) The only downside is that it might interfere with travel plans (having two mortgates at the same time i know what it feels like!!), but then again, that's only a matter of time. Bonne chance!
Me thinks you mean "the value of that lot is in the eye of the beholder". Link to the floorplan: http://tinyurl.com/2vfvmu (right bottom) Master suite is 54 m2 / 2 car garage = 43m2 / house is 16.5 m wide and 21m long / aiconditioned space =350m2 / lot 1300m2 / waterside 53m
ramsesVI (who is too lazy to log in)
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