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Am I missing something here? Liquidated damages provide for 3% in most sales contracts so how are HBs able to ask for and keep all 15% deposit as non-refundable? It's legally unsupported. Anything more than 3% is construed as a penalty and not enforceable.

Way off, at least for me anyway. Any bloggers out there wish to comment?

<p>New release prices:</p> <p>Lot Plan Price</p> <p>138 3MR $1,635,000 139 2SC $1,532,000 140 3SCR $1,606,000 141 2SB $1,518,000 142...

<p>rama007 -</p> <p>Yes, all of what you said and also a good school district is always a good selling point.</p>

<p>NIR - LOL that I don't quite fit the profile of the bloggers you are describing. I suppose I could take it as a compliment.</p>

zer0g - How much lower do you think they will consider?

NIR, I just had to LOL at your comments.

Latest update: May Closing Special Lot 20 - Plan 3B - $1,275,000 Lot Plan Price 45 5AR $1,372,300 15 1AR $1,255,125 18 3C $1,266,950 43...

HBs are required to mitigage their damages, not by assumption of a drop in property value, but by actual realized loss. They are required by best efforts to remarket the property and if similar models are reselling at the same or higher price, they could be held for further liability if the...

NIR - For what you are being compensated, up to 6% commission on a $1MM home (according to what you say your targeted market is), that's $60,000 for a few hours of work. For this amount of money, even if I were to pay a lawyer $500/hour, I know I wouldn't be paying anywhere near that...

Standard Pacific reports a swing of Q1 loss of $40.8MM from $94.8MM profits a year ago, then immediately declares a dividend. Do I smell another NEW CENTURY?

graphrix - I strongly believe in freedom of choice and let the people be held accountable for their own business judgments. Who is NAR to say that people are too stupid to handle their own RE transactions, that there is a need to be represented or the consumer will be hurt? And why...

If houses were built on landfills, homebuyers would have had to sign off on disclosures and this information would be passed on down the chain of title. This is material information that could make or break a transaction, and would be a huge lawsuit for homebuilders if they "fail" to divulge it.

Realtors are overpaid, simply put, and why NAR is adopting a cartel approach to protect its interests, lobbying against discounted real estate services, anti-competitive if not down right anti-trust policy (i.e. restricting MLS listings from discounted brokers, etc.).

"The "focus on the monthly payment" mentality is how car dealers rip people off with outrageous prices and loans filled with fees." You're right on. All the players in this market want buyers to focus on the monthly payments, not prices: banks can charge higher loan fees, realtors make...

Open listings, which few people know about, give the sellers the flexibility to work with whoever is the procurer of a ready and willing buyer. If homeowners sell the home themselves, they pay nothing because they are unrepresented. In a hot market, even monkeys can sell homes (no offense to...

mino, I think Lereah has already said this downturn was going to last through 2008, from his previous statements that "the worst is over"!! I am also reading that the downturn has now spread to Canada.

Fraud wasn't "discovered." Subprime lenders knew of the problem, but preferred "see no evil hear no evil". New Century execs didn't care. It is a public company, public money, and they were reaping huge bonuses.

"Rates are still great." Interest rate is not the only factor buyers should be looking at. Prices should be the bigger factor.

Yes, the HOAs and regs are different for each development. You will have to look at the CC&Rs to determine what the specifics are. Some of the best and worst stories involve HOAs, including how many cars you can park, whether or not you can park on your own driveway, can fine you, attach liens...