Pacific Lifestyle Homes Auction

Posted on November 30, 2008
Filed Under Builder Liquidations | 2 Comments

You heard it right.  Pacific Lifestyle Homes is Liquidating 60+ homes as part of their restructure under Chapter 11 Bankruptcy.  For a large home builder they have the least amount of open unsold inventory but still too much to make the banks happy.  The banks have are requiring the open debt to be paid down to be in line with the recent valuation of the unsold lots.
The new prices are discounted compared to the original price.
For example one home in Ridgefield is priced $100,000+ lower than the original asking price.  It seems this strategy is working since on the website several homes have pending or sold next to them.  However, at the time of this writing there are still plenty of deals to be had.So, don’t be shy. Pony up an offer.  With rates as low as they are right now it’s anybody’s guess how fast the remaining homes will sell.

Comments

2 Responses to “Pacific Lifestyle Homes Auction”

  1. jh on February 8th, 2009 2:14 am

    I am interested in looking at some of these properties. Could you E-mail me a list?

  2. MG on March 17th, 2009 9:04 pm

    How do I get a list of these properties?

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