Housing Doom

Hat tip to L, who forwarded us this unbelievable offer he received:

Good morning all,

First let me wish you a Very Happy Thanksgiving.

I am very excited about a program that is now available for both purchase and refinance.

It is a 30 year fixed loan with a pick a payment option. Unlike most option ARMs, this loan is fixed and fixed for 30 years. It does not adjust monthly with the applicable index.

The base rate varies based on the borrower’s credit from 1.95 to 2.25%. The borrower can also set a higher base rate which can reduce the negative amortization significantly.

This loan is perfect for someone whose income is seasonal or based on commission. This loan is also available to foreign nationals so bring your Canadian buyers!!

For more information on this great program or any other give me a call at 602-XXX-XXXX

 

Always at your service,

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Courtland Homes has come out with this month’s list of inventory specials, and the list is showing an interesting trend.  In October, Courtland was offering realtors a 7% cobroke- in November it is offering 10%.  That in and of itself is not surprising.  What is surprising is that the buyer is subsidizing the cobroke increase, as the actual prices of the home has gone up from last month. This is not stated as an increase however. Either it appears to be a lesser incentive, or the "base price" is increased to keep the discount appear to be higher.

I compared the specials being offered last month versus this month, and I found ten properties that were present on both lists.  These homes are from the Highlands and Silvergate Communities at Crossriver.  Click here to see all properties listed at both communities. [sheet 1] Below is a chart showing October and November prices and incentives for the homes on both lists.  The top listing of any pair is the earlier price:
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