IrvineRenter_IHB
New member
[quote author="irvine_home_owner" date=1221280207]Something interesting that was told to me by a salesperson at WB... any type of widescale price adjustment for a development has to be approved by The Irvine Company. What this means is that they really can't lower the sales price of their homes all that much but they can kick it back in incentives or financing.
Whereas in CG, the salespeople were willing to knock $200k off the prices of homes and still offer incentives.
Is this true? Does the mere fact of being in a non-TIC development give the builder more leeway on pricing?</blockquote>
Yes to both questions. The Irvine Company is simply unwilling to lower the price for its land. It sells small phases, and it has agreements with builders controlling asking prices. However, they have no control over what people are willing and able to offer. It is the collapse of bids due to the elimination of exotic financing that has stopped sales on the Ranch.
Whereas in CG, the salespeople were willing to knock $200k off the prices of homes and still offer incentives.
Is this true? Does the mere fact of being in a non-TIC development give the builder more leeway on pricing?</blockquote>
Yes to both questions. The Irvine Company is simply unwilling to lower the price for its land. It sells small phases, and it has agreements with builders controlling asking prices. However, they have no control over what people are willing and able to offer. It is the collapse of bids due to the elimination of exotic financing that has stopped sales on the Ranch.