On Friday, February 15th my wife and I closed on our new home in Solivita, a retirement community. The next day we were told that the builder, Avatar, had lowered the base price of our home by 20% to weeks prior to our closing. I feel that my wife and I were cheated and deceived by their action. We did a walk-thru 2 days prior to our closing and the sales people purposely did not inform us of the price reduction. Rick Woodley, VP, General Manager at Solivita, called me in response to my e-mail to Mr.Fels. CEO/President of Avatar Holdings. He informed me that Avatar would not make any adjustment on the price that we paid. He also informed me that he and the sales people at Solivita were instructed not to say anything to any of the buyers about this reduction. This 20% reduction has lowered the value of my home by $91, 980.00. He also mentioned that some buyers did receive the lowered base price prior to closing.

It's one thing to have the market deflate home values over a period of time, however we lost over $91, 000.00 the day we closed. This is not right.