Now is the time to buy
Never before have homebuyers had so many choices when it’s comes to living space. There is a neighborhood and home type to fit every lifestyle – from the young professional to the retiree. There are master-planned neighborhoods, mixed-use communities, condominiums and townhomes. With so much inventory in the market today, you can take advantage of available housing at low prices.
For many of the national homebuilders, the situation is this: they have made their sales quotas for the year and they simply need to get this extra inventory off their books. Many builders are offering incentives, such as discounts and free upgrades, to entice prospective buyers. Serious buyers are definitely in a position to negotiate.
The Commerce Department reported on Sept. 27 that home sales increased by 4.1 percent last month. The median price of a new home is $237,000, a drop of 1.3 percent from August 2005. Locally, we are seeing the same trends. It the past, it was rare for a newly completed home to stay on the market. Now, there is a surplus of finished inventory available – and the builders have priced to sell.