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How do I gain bargaining chips by finding out what others paid in a brand new development? Many of these units are not even fully built so I am curious as to what info I can get....
If they're not built, the only people who know the sales prices are the builder, the realtors, and the buyers- none of which are likely to give you the info. Even once the unit closes, the only thing recorded is the mortgage amount (since the note gets filed at the county), but that's not going to help much.
Not for nothing, but why are you so worried about what everyone else is paying? Go in there and offer what you think is a reasonable price, and see if they accept it. If not, move on and find another place.
I think its a good price but I know they were asking $20,000 less about 6 months ago. So far they budged $5,000 but i wanted to know what else I could do
But six months ago isn't today- six months ago, people were running scared about buying anything- now they're freeing up a bit, mortgage $$ are a little easier to get, and prices are going to tick up. At the same time, the people who can't afford $300k mortgages are starting to look more in the realm of reality now, so the units you're looking at are going to start moving at a better pace. I doubt you'll see that $20k, but you can always ask.
... six months ago, people were running scared about buying anything- now they're freeing up a bit, mortgage $$ are a little easier to get, and prices are going to tick up.
The fact that sales had slowed dramatically and are starting to pick up again, mortgage rates dropped recently so money is more affordable, the fed is helping people get out of their bad loans, etc. Is there something that's leading you to believe otherwise?
Our realtor (we're in Middlesex county) said all along during this housing meltdown that inexpensive homes (300k or less) are still selling pretty well. What has not been selling well, according to her, are homes 400k and up.
Makes sense given very few first time buyers can afford more than 400k, and tighter lending standards are causing people to buy less expensive homes than they did from '01-'06. BobKovacs isn't making this stuff up.
As I mentioned in another thread, if they've raised prices, they are selling well.
Is there something that's leading you to believe otherwise?
Skyrocketing inventory. The latest Otteau report.
You may be right about sales picking up, though. I don't know about that, but hope you're right.
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