September Housing Survey

We recently received the monthly Bank of America Real Estate Agent survey regarding home sales and pricing.  Once again, it shows a declining market with slow sales and depressed prices.

In the Denver market in particular,  new home builders are offering up to $80,000 in incentives and one home builder noted "Any offers we do see being made are 20% or more below offering prices."

If you are considering purchasing a home, make sure to take a look at builder inventory.  Most builders have spec homes available that can close in 30 days or less and some will still have the ability for you to pick some options.  These same builders usually have an arrangement with a lender where you can get below average interest rates and other incentives.

Although some builders have rules against it, it is also a good time to invest in new homes.  They make a good buy for investors for the same reasons they are good buys for home owners.  Be prepared to rent them out of a while as the ability to make a profit may not be there for a while - at least until the builder completes the project and moves on.

2:54 PM - Oct. 31, 2006 - comments {0} - post comment

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