California Homes 50% OFF Sale!!! "Unheard of Savings"
D.R. Horton will be liquidating homes at 50% OFF in the next few weeks in CA. The following is an excerpt from BigBuilder Online:
Horton is focused on Southern California, where the company's new orders plummeted by 72% last quarter.
Promoting "unheard of savings" of up to 50%, the company is hoping dramatic pricing on Saturday, Feb. 16, and again on Saturday, Feb. 23, will move the 399 homes the company has carried in standing inventory for more than 12 months. Under the terms of the sale, buyers must close before the company's quarter ends on March 31.
Now imagine all of the homes in the above communities. The recent comps will be 50% off. What do you think that will do to the value of the remaining homes in the communities. What about if they are leveragaed? Can anyone hear the JingleMail jingle bells?