Sunday Afternoon at a New Build
Posted on February 11th, 2008 by Jonathan Dalton
Today is my first RE/MAX Corporate event so I’ll likely not be on the live chat until tonight, if at all.
In the interim, some quick observations after spending the last two days visiting a number of new builds around Goodyear, both in Palm Valley and down in Canyon Trails:
- The only sellers with the pockets to compete with builder incentives on spec homes are the banks. Pulte was offering up to $70,000 on one community it was closing out; Beazer had a 4,00o-plus square foot home available for $80 per square foot.
- Flags and balloons work … the foot traffic at Beazer yesterday was insane. There were a lot of folks just out for a Sunday drive, which is normal, but also three I saw who wrote up contracts.
- Homes are selling. We visiting a spec home at Pulte late Saturday afternoon. When my buyers returned less than an hour later it already had sold. The sales agent at Beazer said they had sold three home over the last few days.
If you’re selling your home it’s a tough time as there’s a great deal of competition, the kind with pockets deep enough to offer incentives you can’t touch. But incentives are higher on specs that homes being built from dirt and slowly but surely spec inventory is going away.
Incidentally, if you’re looking to buy a new build, have I mentioned you ought to bring your own agent along with you?
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Wow 80 sq foot for that much home is great. I had someone get 85 a sq foot in Florida and that that was a good deal for 3327 sq foot home. I can imagine the crowds.
Daytona Beach,
I hear ya! That is a steal at $80 per square foot!