tag:blogger.com,1999:blog-3329419642567789295.post5322110486267173842..comments2023-10-30T06:49:13.259-07:00Comments on Larry Roberts real estate writing blog: What happens when.....Larry Robertshttp://www.blogger.com/profile/07551274023310137270noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3329419642567789295.post-91114630929768406902009-01-12T20:12:00.000-08:002009-01-12T20:12:00.000-08:00I had checked this tract out about a year ago. Th...I had checked this tract out about a year ago. They were already discounting and we were offered a home for around $630K. Like you say, they are nice. I inquired about the lack of mello-roos and found out that the builder prepaid them and they were rolled into the sales price. I wonder what happens when a CFD is created and bonds are sold, and a builder such as this plans to sell a bunch of homes... but he runs out of money to finish the tract, then what? Who pays back those bonds, if the lots were never built or sold? Hmmmm...Martin Burtinhttps://www.blogger.com/profile/01506934069894903418noreply@blogger.comtag:blogger.com,1999:blog-3329419642567789295.post-8811451078515468402009-01-10T07:48:00.000-08:002009-01-10T07:48:00.000-08:00I could be naive, but in the old days that would h...I could be naive, but in the old days that would have been considered a move-up neighborhood. If so, you probably have a good % of people that cashed out bubble equity on other homes, and are sitting with manageable amounts of mortgage debt.<BR/><BR/>People that took out 100% financing for their first home purchase in an $800K neighborhood are facing a pretty tough reality.Oldtimerhttps://www.blogger.com/profile/06149644650543356416noreply@blogger.com