After several homeowner protests, letters and telephone calls, Pardee ended the offer, which company officials said was meant to attract buyers in a difficult housing market.
...
On Jan. 12, some residents received phone calls from Jim Bizzelle, vice
president of community development, who said the incentive has ended. One couple
asked for it in writing, and received a letter from Bizzelle, dated Jan. 12.
In part it read: "After further consideration, we have decided to end the
New Community Facilities District (Mello-Roos) assessment incentive being
provided to new home buyers at our Moorpark Highlands community."
If this incentive was being offered "to attract buyers in a difficult housing market" it opens the question what incentive they will offer to attract buyers. If the issue is cost and they can't drop Mello-Roos there is not much more they can do to affect affordability. Fancy financing (which is becoming more taboo from the buyers perspective, buy-downs are temporary and people are much more wary) or price cuts seem to be on the horizon.
1 comment:
I think in the minds of the homeowners, price drops maybe temporary, but having that "mello roos" scarlet letter is forever.
this is very bad news buyers waiting on the sideline and all future buyers of new homes. mello roos priced at an outragious rate may be here to stay.
btw, excellent blog, will be linking up shortly.
Post a Comment