I think you're clearly biased, particularly given your comments indicating you think the buyers are either un-informed or ignorant. I can see a couple people perhaps were duped by sales people or desperate to purchase something but it defies logic that ALL of those buyers are making ignorant, short sighted decisions. They didn't ALL buy the first place they looked at, they shopped around and decided this was the home they wanted.
I am aware of that, however, here in S Florida, yes, hundreds of buyers in new home communities make the wrong choice price wise. Perhaps you have seen that in Arizona? (or perhaps not)
I have seen entire new home communities lose 30% of value within first year or two. So yes, those buyers may have shopped around and liked the house they were buying, but they all made the wrong decision about what price to pay (and had crappy number hitting appraisals, sorry to say)
Not all new home subdivisions here lose value, some keep value or appreciate...I am pretty good at separating them out. (not bragging, just fact, after appraising a long time in a county and seeing what happens to developments and what features the community that do well share and the communities that decline in value share)
u decide to keep the assignment I think you owe it to everyone involved to figure out exactly WHAT the appeal to the market there is. Have you even seen inside one? Go knock on a couple doors and ask the people why they chose THIS development. Talk to realtors involved in some of the comp sales and figure it out.
