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Old 04-16-2008, 02:38 PM
 
Location: Matthews
59 posts, read 149,483 times
Reputation: 34

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Just curious, but can anyone tell me how much New Builders might consider reducing the prices of their SPEC homes. If I could spend no more than 340K on a house (even that is pushing it), should I even enter a neighborhood that advertises homes in the 400's?

Thanks so much!
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Old 04-16-2008, 02:46 PM
 
12 posts, read 44,115 times
Reputation: 12
A neighborhood in the 400's would be pushing it a little. Builders aren't able to negotiate as much as pre-existing homeowners. They're typically priced to allow for a little negotiation, but the builer knows how much he has invested and prices to allow for his desired margin of profit.
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Old 04-16-2008, 03:49 PM
 
1,242 posts, read 3,667,060 times
Reputation: 199
Default I don't think it can hurt

to look. There is so much inventory right now and they are trying to make some deals and get it off their list.

I pm'd you about St. John's Forest that is in your price range and it has a real community feel and tons of kids.
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Old 04-16-2008, 04:33 PM
 
Location: Huntersville
1,521 posts, read 4,483,543 times
Reputation: 298
You never know. Make them say no!
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Old 04-16-2008, 05:08 PM
 
364 posts, read 1,044,563 times
Reputation: 95
I know in our neighborhood the homes actually start lower than the advertised price. I am not sure if this is because they are expecting to raise prices or if they want to bring in higher clients. However, It's about 40,000 difference. It says 200-300 on a billboard, but you can get it at 176 and the higher end homes start at 260's. I know they have dropped prices several times and there are no more spec. homes in the neighborhood- to be built only (due to market?) and there is less negotiating there.
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Old 04-16-2008, 05:10 PM
 
Location: State of Being
35,885 posts, read 67,172,097 times
Reputation: 22373
You never know til you ask.
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Old 04-17-2008, 07:15 AM
 
889 posts, read 2,850,602 times
Reputation: 343
Profit is between 15-20% for builders. If they need to dump a house, you never know.Does not hurt to make the offer.
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Old 04-17-2008, 08:53 AM
 
Location: Charlotte, NC
422 posts, read 1,217,119 times
Reputation: 240
MAKE AN OFFER!!! I just sold a spec home the other day that was originally discounted around 30K.... and then the customer asked for another 3% off and Management said YES!!!!!!

So definatley ASK!
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Old 04-21-2008, 08:48 PM
 
33 posts, read 157,365 times
Reputation: 20
Default 10% would be a stretch

10% would be the ABSOLUTE most.

Most builders would prefer throwing in the kitchen sink, and tons of junk than EVER reducing the price.

Once the price is reduced for YOU it creates a DOMINO effect down the rest of the street.

I would stick to Lennar neighborhoods which are in $250 to $350k range (as are many others).

You'll still get good bang for your buck as prices are down 10 - 15% on most homes in that range (including mine sadly - but I made a triple killing with my three houses in NJ)
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Old 04-23-2008, 06:57 AM
 
Location: Concord, NC
367 posts, read 929,805 times
Reputation: 117
It doesn't have to be a spec home that is already built to get a good price. We had ours built from the ground up and picked out everything and got oit $33,500 off list price. My agent thought we could have got more, but I was happy with that. Go low, the worst they can say is no and counter offer. Make sure its s price you really are happy with. If they say yes right away, with no counter, you probably could have done a little better.
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