Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm in northern Virginia and the new home builders here are throwing all kinds of incentives at potential buyers- 1/2 off all options, completely finished basements, 10k towards closing costs...
Are the builders in the triangle area offering any incentives at all? It seems like our market is much cooler now than yours (even resale). Any insight?
yeah they are. we were looking at one of their developments in Rolesville back in May. At the time they had about 8 new homes in inventory. Within the last month they knocked (if I remember correctly) about $25K of the prices and they are now all gone. On the flip side of that another neighborhood we like has only offered a few thousand towards closing or golf/tennis/swim club membership free for one year. I would guess that most builders would be open to working out a deal rather than sit for months on a home.
There is a spec house we like that we wanted the builder to come down on. He said he would do 2500 toward closing costs, and maybe 1000 more off and that's it. We thought that in this climate he'd be more willing to deal, but I guess not. Now we're looking at the builder down the street and he's giving 10K off/upgrades on spec houses until the end of August. This was in Ashbury in Mebane/Orange County.
It really depends on exactly where you are looking. Some are and some aren't. It's also going to depend on the neighborhood, etc. Now, you aren't going to see the same kind of incentives you are seeing up there, b/c our area didn't see the same increase in prices. Just to give you an idea, most builders saw about 3/4 of their profit come from that market just a couple of years ago.
My husband & I spoke with an agent in the model home of Hunter's Mark in Garner. The agent told us that Perry Builders were offering incentives, I believe through August. I think it was $ towards closing costs & upgrades.
Bumping this up...now that we are headed into December and builders need to close their books (preferably without inventory), is anyone seeing any great incentives out there??
Sure there are plenty out there, but it honestly has nothing to do with end of the year, since most of their fiscal years ended in September. Right now I think most builders are trying to survive from overexpansion from the mid part of the decade, to the slowdown now. I think you can probably get some pretty good deals while builders try to thin out some inventory, and the rates are still low.
Last weekend KB had a no lot premium signing weekend. The lots that are left are 6-10k premiums so it is significant. At the same time its sort of a junk fee anyway.
To make this current...builders are offering great incentives on inventory homes that are just setting there, costing them money.
It always helps to know what the other homes in the neighborhood sold for.
Vicki
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
