My wife have been looking the last couple months for a new house. Our search has taken us from foreclosures, to retail resales properties, and on to new home builders. What we are finding is that in this slow economy, many new home builders are drastically cutting into their list price and/or offering a lot of incentives. For example, we were looking in this one neighborhood last fall, and started looking again a few weeks ago. Surprisingly, the saturation of homes weren't much different in almost a year's time. The good news is that many of these homebuilders are offering some pretty good deals.
For example, we talked with a sales rep in one community who has been trying to unload one of their inventory homes. It has been sitting for over five months now with no concrete deals. It is listed for $300k, and my wife has managed to get it down another $50,000 PLUS have the builder throw in some extra incentives. (Lo-and-behold I still haven't committed as I always think there's a better deal.)
The bottom line is there are a lot of deals to be had in this market even for newly built homes.
For example, we talked with a sales rep in one community who has been trying to unload one of their inventory homes. It has been sitting for over five months now with no concrete deals. It is listed for $300k, and my wife has managed to get it down another $50,000 PLUS have the builder throw in some extra incentives. (Lo-and-behold I still haven't committed as I always think there's a better deal.)
The bottom line is there are a lot of deals to be had in this market even for newly built homes.
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