Well, they have reduced their base price to 584...and given the options (half off) +incentive to use their mortgage got us to that price...i have all major options except walk out basement.

Thu May 15 2008, 20:55

Your best bet would be to have a Realtor represent you. Everything's negotiable, so it certainly doesn't hurt to ask. And I understand your concern; prices in farther-out Fairfax County (not to mention Loudoun and Prince William) have fallen substantially, and may well fall further. Also, check to see how many short sales and foreclosures are occurring in the community. Both you and the builder could get caught if those $725,000 homes become short sales or REOs at $495,000 or so. Except the builder can always throw in a few more options, drop the price a bit, and stay competitive. You wouldn't be able to do the same.

If you know you can afford the mortgage, if you really like the houses and the location, and you're reasonably sure you're going to be living there for awhile (7-10 years), then negotiate tough and try for some sort of price protection. Otherwise, be very careful.

Hope that helps.

Mon Apr 7 2008, 10:29

Read the builder's contract to see if that is an option. Hope you have a buyers agent to represent your interests.

Mon Apr 7 2008, 10:21