Tax Sale Season

[Frank]

There are real deals on New homes as many builders have substantially discounted ( some as much as 25%)  ..If you are looking to lowball  ...nail the builders sitting on inventory..  many are seeing walkaways on the deals or have build some on spec...

They cant afford to ride it out.. they have to move the product..   If a house doesn't sell by may/early June  for a July August possession... a builder knows its stuck on the market.

Its now April , wait for the BS to start flowing from the agents over the next couple weeks  

PFM is right, just look at the builder's adds, they have all reduced their prices drastically.. on inventory homes...these are buildings they have erected, either as models or on spec.   Lots of townhouses, when they get a couple of sales in a block of 6 or 8, they go ahead and erect the whole block (cause they can't just put up one or two units), the rest become inventory.  With the market the way it is, don't be scared off by their stated prices, make them an offer...any offer, and you will be surprised.  The banks are starting to give them a hard time on these units, they won't keep lending them money to hold stuff that isn't moving, net result is they will sell them off with no profit margin, or at a loss.  Many of them have had to cut back on their staffing as well, in order to trim overheads...you can't sustain the same level of worforce when you are only selling 30% of your normal.   

Under normal situations, if you go to a new home site, you can buy a home with a little down, and take possession in a year.  Most builders hold these inventories as there are always folks who walk in and say they need a place tomorrow...tomorrow is here, if you need one quickly, it is an excellent time to walk in and kick the tires.