A few months back me and the wife stopped at a Centex development in Riverside. The prices were high like all the other places. They started in the mid $500s and went into the high $700s. I picked up a price sheet and put it into my notebook. Well today I went to the website to see how the prices were holding up. Wow was I shocked. These things have taken a dive in price.
For instance the 4303 model Hawksbury is listed in the brochure I have at $769,990.....
New price on the website.....ready for this.... $599,990. That's a 22% drop and puts this model at $140 sq/ft.
Plan 4, 3931 of the Ardenwood homes was $645,990 and is now $499,990. Again that's about a 22% drop. That puts this one at $127 sq/ft! Not too bad
There are about 15 models in this development and all of them have similar price drops. Looks like Centex is getting the message. I think they still have a ways to go though. Another 20% should get the prices back near where they should probably be.
I wonder how the poor saps that bought at the old prices are feeling right about now knowing they are upside down $170K on that 4303 Hawksbury model.