Hey there, Renee! Lennar has some incredible deals here in Ft. Worth, too! Some of their communities are very nice!

That deal in Anthem is seriously a SMOKIN deal Linda!  I have been showing and selling new construction all month.  I had a feeling that this was across the board for Lennar, thanks for the confirmation!  Go sell it!

With the existing market condition this had to happen.   It was only yesterday I was reading Laurie Mindnich's post; she was concern about the effect this wii have on the resale market.

http://activerain.com/blogs/laurieatoptionsrealty

Hi Jennifer, thanks for pointing that out to me!  Here is my response: 

New construction is jet setting the bottom of the single family market right now.  There have been some major price reductions in the last month and a half and I truly feel this is it (doo wop, a little Huey for your Mon AM).  Banks are going to have to liquidate their inventory and they have to start BELOW that standing inventory-highly upgraded-nobody has lived in or trashed-new construction product.  Where will resale single families and the condo market go?

My crystal ball is broke!  I do know if HALF of the listings were removed from the resale market and rented out, we would have a balanced rental and resale market.  No longer would we see a stagnant resale and frenzied rental market.

Ahhhh but what do I know?

Renee,  This post is very concerning!  The new home builders have always been my arch nemesis and to hear that they are undercutting so much just makes me that much more upset with them!  Ugh!

Rey:  I do fear a snowball effect that can start an avalanche of foreclosures if owners feel hopeless that they have no opportunity in the future to make up for the equity they are losing.  Right now is the perfect investor's market.  People need to take advantage because I truly believe it won't last, and make sure they shop builder's lenders vs their own :wink: