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I'm hoping to move from MI to TN by the end of the year, sooner if all goes well. I've been looking at both homes and condos online and there are some new condos, quite a few in the same development that don't seem to be selling. I noticed last week that the price on these same units have gone up 2.5K. What I want to know is.......... do developers blow off offers that aren't full price on new homes or condos? I've got it into my head that there is no point offering less and I don't know if that's correct. I actually was wondering this even before the prices were raised.
It depends on the overall market in the area, but also on how that particular subdivision is doing with sales. As an example, we recently purchased a new home outside of Atlanta. The market there is slowing slightly, and there are builders who are taking offers below full price. In our subdivision, however, demand has been steady, and the builder is not accepting anything other than full price on homes that haven't started yet. They are offering some discounts on standing inventory homes (since those cost them money every month), but that's pretty typical in just about any market.
It sounds like your builder is doing OK if he just raised prices, but IMO, it's worth a shot to make your offer- the worst thing that can happen is it gets rejected, and you submit a higher offer if that interests you.
Sometimes builders "raise" the price, and then compensate with incentives. Since you are a buyer, I highly suggest you engage a realtor who will know what is happening in that neck of the woods. You will want to know what recent sales have been, how much, what incentives the builder is offering, etc. And you can always make an offer!!
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