Scharpe St Guy Posted December 1, 2007 Share Posted December 1, 2007 MLS 4572930MLS 9366600MLS 6720233Sorry for not posting the links but I'm sure they will be posted soon!Scharpe St Guy Link to comment Share on other sites More sharing options...
rps324 Posted December 1, 2007 Share Posted December 1, 2007 Thats over in 3rd ward area isn't it? Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted December 1, 2007 Author Share Posted December 1, 2007 RPS, yes they are in the 3rd ward, just outside of downtown.Scharpe St Guy Link to comment Share on other sites More sharing options...
gnu Posted December 1, 2007 Share Posted December 1, 2007 MLS 4572930MLS 9366600MLS 6720233Sorry for not posting the links but I'm sure they will be posted soon!Scharpe St GuyYesterday i noticed they had also listed three or four parcels in the Southmore/Almeda Rd area.Do you think they are predicting hard times? or just casting a net to see if anyone bites? Link to comment Share on other sites More sharing options...
houstonmacbro Posted December 1, 2007 Share Posted December 1, 2007 I live in Ella Crossing subdivision (just south of 1960 on Ella). It's a very nice subdivision and Perry built out Part 1 & 2 furthest to the back, but they have completely stopped any new construction closer to the front of the subdivision. So you drive in and there are acres of vacant land (kinda cool actually), but there is no time table from them on when they are gonna finish it --which is actually fine with me. I kinda like it being vacant out here. Link to comment Share on other sites More sharing options...
Scharpe St Guy Posted December 1, 2007 Author Share Posted December 1, 2007 Banks are being very reluctant to loan to anyone right now and credit terms are not great. I would imagine they are floating quite a few spec homes and tax bills are due in January for all those homes. When a home is completed and your not getting draws on it then you start using up your margins on taxes, insurance, utilities, employees, overhead, etc.... Very expensive.I'm sure Niche can fill us in with some additional information.Scharpe St Guy Link to comment Share on other sites More sharing options...
houstonmacbro Posted December 1, 2007 Share Posted December 1, 2007 Banks are being very reluctant to loan to anyone right now and credit terms are not great. I would imagine they are floating quite a few spec homes and tax bills are due in January for all those homes. When a home is completed and your not getting draws on it then you start using up your margins on taxes, insurance, utilities, employees, overhead, etc.... Very expensive.I'm sure Niche can fill us in with some additional information.Scharpe St GuyAnd if Perry --one of the better builders in the city is doing this-- things must not be all that great for lesser builders. Link to comment Share on other sites More sharing options...
TheNiche Posted December 1, 2007 Share Posted December 1, 2007 The one on St. Emanuel kind of makes sense for townhomes, but I can't figure out why Perry purchased the other parcels in the first place.Perhaps sales at CityView Place aren't as quick as they'd hoped, and revised underwriting for their other land holdings couldn't be made to fly. I have no direct knowledge, though. Link to comment Share on other sites More sharing options...
west20th Posted December 1, 2007 Share Posted December 1, 2007 Perry seems to be very cash flow sensitive. Sometimes they will hold out as long as it takes and sometimes they price to move houses quickly. Our house, for example, Perry priced them about $30 p/sf less than the going rate at the time. Doing this they had all houses sold before they even poured a slab. That fit their needs at that time. About a year later Perry built some identical homes in Shady Acres, on smaller lots, and priced them for about 50K more than ours. They sold but it took about 6 months to clear that inventory. Guess they had the cash on hand to wait. I don't think you can identify a trend unless some other builders try to dump their lots. Perry is not a very good indicator. On the other hand maybe 'ol Bob Perry needs some cash for the '08 elections. Link to comment Share on other sites More sharing options...
Mr. Chenevert Posted December 1, 2007 Share Posted December 1, 2007 Tricon has 85 finished properties in the inner loop area that they are trying to sell. I know someone that just got 70k off of the list price. Link to comment Share on other sites More sharing options...
editor Posted December 2, 2007 Share Posted December 2, 2007 I live in Ella Crossing subdivision (just south of 1960 on Ella). It's a very nice subdivision and Perry built out Part 1 & 2 furthest to the back, but they have completely stopped any new construction closer to the front of the subdivision. So you drive in and there are acres of vacant land (kinda cool actually), but there is no time table from them on when they are gonna finish it --which is actually fine with me. I kinda like it being vacant out here.Smells like an opportunity. With land prices depressed the way they are you and your neighbors could pool some money and buy a few lots for a private park. Put it in a trust or something to keep anything bad from happening. Link to comment Share on other sites More sharing options...
houstonmacbro Posted December 2, 2007 Share Posted December 2, 2007 Tricon has 85 finished properties in the inner loop area that they are trying to sell. I know someone that just got 70k off of the list price.Wasn't there a recent thread about Tricon homes having problems?Smells like an opportunity. With land prices depressed the way they are you and your neighbors could pool some money and buy a few lots for a private park. Put it in a trust or something to keep anything bad from happening.Yeah, I've thought the same thing. Actually, back in the section where I am, I am 3 houses away from a small park (maybe .5 - 1 acre). I do not see them doing the same thing in the sections closer to Ella, but I could be wrong. Link to comment Share on other sites More sharing options...
gwilson Posted December 2, 2007 Share Posted December 2, 2007 Hmmmm Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.