Spring 2010 Update on New Homes for Frederick Buyers
Builders Have a Few More Spec Homes
The big national home builders are seeing fewer cancellations of contracts and more serious buyers. They have prepped for spring buyers seeking the tax credit by building a few more homes on “spec,” in the hope that buyers show up to buy a home already finished or underway.
Builders weren't starting new homes without a buyer's down-payment during the downturn. However, in order to be able to deliver a home in time for the June 30th closing deadline for the tax credit, they got a head start on construction. Since most houses take about 6 months to build, many builders have started a few homes.
Many builders have recently adjusted their product lines and cut costs in other ways to offer competitive prices, especially where they have to compete with foreclosures.
New home buyers should be sure to take their Realtor along in order to represent them and help with the unique issues involved with new construction.
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