Thursday, April 17, 2008

I thought Texas was different

I'm not sure how I got on this mailing list, but today I received spam from a home builder in Dallas encouraging be to BUY NOW! The subject of the email was HUGE DISCOUNTS!

These are the options I got:

CHRISTIE RANCH - Zero Move In Special
Frisco is one of the top 5 cities for growth in America. Beauty of the area, exceptional schools and the lowest tax base in DFW are part of Frisco's appeal.

Village of Fairview - Zero Move In
One of the wealthiest cities in the Dallas area as the appreciation rates for homes continue to rise. Just to the south will be the new “Village At Fairview” shopping mall, an open-air concept mall.

So I have a question or two for the builder.

If Frisco is one of the wealthiest cities in Dallas, what the hell are you offering Zero Move In specials for? You'd think these wealthy people could afford a couple of bucks to put down or at least closing costs. If I lived in Frisco I sure wouldn't want riff raff moving in next door that needs these no money down come ons. Sounds to me like a foreclosure just begging to take place sometime around October or November. If I were a Frsico resident - one of them rich types - I'd be quite concerned.

And if the appreciation continues to rise, why are you having a massive sale? Rising appreciation indicates a booming market. Builders don't have massive sales in booming markets. Something doesn't sound quite right here. Unless, maybe just maybe, this builder is full of shit and the only appreciation anyone foolish enough to buy right now will get is in the amount of money they owe and can't ever pay back.

1 comment:

Anonymous said...

Greed and stupidity are universal