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Advertising 56% discounts in price, as well as discounts in financing, Centex is showing that the pressure to move inventor at any cost is mounting. Remember, they are probably going to lose the ability to fund their mortgage arms through swaps due the impending loss of their investment grade rating, and their warehouse credit line (the loan they use to fund mortgages before they sell them off to investors) matures in part this month. This means dump'em while you still can. A 56% drop in revenue portends a much larger drop in profits when you add the write-offs for land devaluation, etc.

I am sure they are going to get stuck with many non-conforming loans on their warehouse line, which they will not have much longer as well. It should be an interesting reporting period for Centex.Webshell_madison3_3 Click thumbnail to expand...

From their site:

Madison Park, located between Radio Road and Davis Boulevard in Naples, exudes a small town neighborhood feeling and is just minutes away from Fifth Avenue restaurants and shopping.

QUINCY SQUARE #11-101. Villa home, 2BR/2BA + den, great rm, 2-car garage. 1,747 A/C sq. ft. Old Price $391,022 New Price $254,990 Save $136,032 Old Payment $1,955/mo New Payment Only $956/mo

HAMILTON COVE #133. Villa home, 3BR/3BA + den, great rm, 2-car garage. 2,109 A/C sq. ft. Old Price $512,205 New Price $399,990 Save $112,215 Old Payment $2,561/mo New Payment Only $1,500/mo

Hamilton Cove #155
Villa home 2,453 A/C sq. ft. 3BR/ 2 1/2 2BA + den, 2-car garage