First, I would confirm that Altaire is, indeed, lowering its prices by 15 percent on all new inventory, because while the market has been slow, new homes are now selling without further price drops, so most of the developers who dropped prices in June have been briskly selling available inventory.
As for a further reduction in November and December, I do not see that on the horizon for Altaire unless:
1. The remaining number of homes within the community that are unsold remains high
2. The bank agrees to a further reduction in prices--remember, the bank holding the construction loan is often in the "driver's seat" when it comes to adjusting home sales prices.
At this time, Altaire appears to be selling out standing inventory, so the developer may wait another year before committing more funds to any further building. Also, most of the developers who were able to get additional price reductions for the summer, had to work very hard to convince the lenders that the drop was required. I think another push toward a further price reduction will be darned near close to impossible especially since most housing is on an uptick and the economy seems to be slowly recovering. If things were still trending heavily downward, then perhaps the bank would consider a further reduction, but waiting for the last elusive 15 percent may mean not getting any Altaire homes for yourself.
Good luck and happy house hunting!!
Grace Morioka, SRES, e-Pro
See My Blog on Saving Money By Buying w/ a Facilitator