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<blockquote data-quote="jakeman" data-source="post: 3712048" data-attributes="member: 10690">They&#039;re going to get, and are getting, worse in the near term. Is there an end in sight? Not currently. Will it end? You damn right it will, with a loud crescendo. It&#039;s anybody&#039;s guess as to when though. I think it will be sooner rather than later, like this year, cause I think the bottom is going to fall out of the market and inventory will out pace ability to pay (notice I didn&#039;t say &quot;supply&quot;).I&#039;m done building specs, for the near term any way. I&#039;ll have another look in a couple months. We&#039;re just doing it to piddle and have something to do and make some extra money. We&#039;re not an assembly line builder. We build 2000-2300 sq ft specs and we&#039;ll finish out a barn or do a custom on the owners const loan. I don&#039;t build starter homes, and I don&#039;t build anything bigger than 3300 sq for a custom. We just aren&#039;t that guy. We have a scant few trusted subs that do quality work, or they don&#039;t work for us, and we build as nice a home (and a lot better than most) as gets built in the neighborhoods we work in. The last 4 we&#039;ve built were bought by the first buyer that walked thru them after they were finished. The one before that was bought when we were at the paint &amp; floor covering stage. That turned into almost a full blown custom, and it was a complete PITA. It got so out of hand that we had to collect almost $50k in nonrefundable change orders because what they wanted would never be recoverable if they failed to close. It was a nightmare. I&#039;ll never do a custom on anything other than a cost plus basis.</blockquote>

[QUOTE="jakeman, post: 3712048, member: 10690"] They're going to get, and are getting, worse in the near term. Is there an end in sight? Not currently. Will it end? You damn right it will, with a loud crescendo. It's anybody's guess as to when though. I think it will be sooner rather than later, like this year, cause I think the bottom is going to fall out of the market and inventory will out pace ability to pay (notice I didn't say "supply"). I'm done building specs, for the near term any way. I'll have another look in a couple months. We're just doing it to piddle and have something to do and make some extra money. We're not an assembly line builder. We build 2000-2300 sq ft specs and we'll finish out a barn or do a custom on the owners const loan. I don't build starter homes, and I don't build anything bigger than 3300 sq for a custom. We just aren't that guy. We have a scant few trusted subs that do quality work, or they don't work for us, and we build as nice a home (and a lot better than most) as gets built in the neighborhoods we work in. The last 4 we've built were bought by the first buyer that walked thru them after they were finished. The one before that was bought when we were at the paint & floor covering stage. That turned into almost a full blown custom, and it was a complete PITA. It got so out of hand that we had to collect almost $50k in nonrefundable change orders because what they wanted would never be recoverable if they failed to close. It was a nightmare. I'll never do a custom on anything other than a cost plus basis. [/QUOTE]

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