Hey guys, there's a bunch of good looking Ryland condos going up in my area. Right now they are a decent price, but with all the problems in the economy right now and the housing market tanking again, I was hoping I could get it a little cheaper in the next year while I save up for a down payment. How is Ryland doing? Are they in bad financial shape? Do you think they will lower prices in the next year? How should I play this? Need some advice!
Prices could be reduced some in the future, its very hard to tell. RYL has reigned in their expenses and shoudl weather a further downturn, but again you can only lose money so long before even their short term credit may dry up.
Only advice I can give you is look at how many units are fro sale, or never been sold, in each development. If there is a much higher percentage unsold to already purchased, bad things can happen to association fees and reserves for upkeep (lawns, driveways, roofs, etc) in a hurry.