California Dreaming On Such a Winter Day
If you want low-down on California dirt, Patrick Duffy is your guy. He’s a principal at MetroIntelligence Real Estate Advisors, a division of Beacon Economics. Better than that he can tell you who needs to sell prime lots right now, and why, right now.
He’s started contributing weekly for the Wall Street Journal’s “Developments” blog. Clearly, he’s starting off on an informed sources, provocative note. The kicker in his maiden contribution:
However, before jumping on any deals consumers should research the financial strength of potential home builders to ensure there’s someone around to address warranty issues. It’s about balancing some of the best deals on new homes we’ll see for a while — in which many builders are basically selling at or below cost — against your own comfort level that a builder may go out of business sometime after the sale closes.
At Housingcrisis, we feel that trust and confidence are at the core of the meltdown, and will be at the core of the recovery. Thing is, we can’t predict what will cause trust and confidence to swing back toward positive after the extreme yaw toward paralysis and dread.
Clearly, though, it’s an advantage to have knowledgeable veterans on the ground who’ll be the first ones to sense a sustainable turn in market trends. That’s Duffy, who also blogs at www.housingchronicles.com.
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