|
|
I am obviously having trouble keeping up with the fast developing news in the housing market. In the first 6 weeks of this year, I have now written five missives on the housing market, and I still feel way behind. Once again, href="http://www.tradermike.net">TraderMike got me hip to yet another firesale of homes. This time, the sale is burrowing through the hot (literally and figuratively) Phoenix, Arizona housing market. Meritage Homes is delivering the gift in the form of a 48-hour sale this weekend that promises up to $50,000 off current bubblicious prices. You can click here for the advertisement, and after the sale is over, you can click here to see the ad posted on the blog that seems to have gotten the early scoop on the home sale.
Now, as we learned with the big firesale from Centex, there can be a variety of reasons and caveats behind such sales. Meritage's advertisement does not reveal much, but you can bet I will be listening to their next earnings conference call to get the story. These conference calls can be very helpful. Centex revealed in their last earnings call that their firesales were basically on compromised inventory and would not have a material effect on financial results. So, while the Meritage sale makes for great sensational headlines, I will wait until I can get my hands on more details before I get too excited. In the meantime, you can examine my timely review of Meritage's stock.
So, stay tuned, and, as always, be careful out there!