Browsing a few of the many blogs and home info sites this past week, I noticed Davis homes being discussed in them. Some commentary indicated that there are current owners of closed Davis homes that have had mechanics liens placed on them for unpaid materials. This was after they received the vendorâ€™s affidavit at closing stating everything was paid. Not a good situation to be in. I would be wary. Now if you can get a fire sale price and do your own work making sure vendors were paid, and securing your own lien waivers, that might give you a more secure position in the sale. At this point, I would not trust the builder in this matter. Withstanding that, my personal experience as a broker in their transactions and my clients experience with them after the sale were less than satisfactory. Davis is a sinking ship as of now and my client has not had good callback response to handle issues after the close. If they close doors altogether, forget about any warranty work. When it comes to financing, I have always been skeptical of builder financing and incidentally, had the same discussion with the pres. of Davis finance. Builder offers discounts on home, buyer signs deal, builder then makes financing through "THEIR" finance company a requirement. Buyer finds better financing 2 weeks later. Builder says tough luck, you will pay inflated financing or loose your deposit if you back out of deal or price of home goes up. Rate on builder loan is 1 1/8th point higher than average of 3 local banks. Closing cost are much higher and the YSP the builderâ€™s finance company receives is over 6 points! Talk about getting screwed. Well I was able to negotiate everything away to normal average costs except the rate was still 1/8 of a point higher. My client did not want to fight for the remainder. Davis finance guys response to 6+ point YSP was they "they have a right to make a profit". (ysp, yield spread premium - is what loan company makes on originating the loan.) Hell, they probably made as much on the loan as the house! Remember that most builders want to close at "their" title company. That might explain why owners received the deed and vendors affidavit at close, but still had mechanics liens filed after the fact. I could go on more about other pitfalls to watch for and how and when to fight them but here goes an attempt on answering some more of your question. 100% financing/no money down is thin to none here, but available with steller credit. I think this has more to do with the shake up of the mortgage market and unavailability of those products than anything else, much like you are seeing in Vegas. Builder paid closing costs. Sure they will do that, but watch it's not built into the price of the home. Example: You pay $105k for a $100k home but all costs are paid on your behalf......Not really a deal here, it's just built into the price and you don't see it out of your pocket. There are lots of foreclosures, REO's and corporate owned homes in the Indy market but I have yet to see mass sell off's at 20-50% discounts or more that I have heard about in markets like Vegas. There might be individual deals that happen like this but generally speaking, I'm not seeing them. Now where I think you are finding deals are in 1-3 year old homes that have already been foreclosed. They were typically sold new with ARM or buy down financing. When rates ratcheted up after 2-3 years the owners could not afford them, on top of the home being assessed after it was built and now paying property taxes on the home instead of just land. Corporate homes seem to just want to get them off the books. The last 4 homes I have negotiated on have fit these selling patterns. Different sides of the city have different demographics. "Indy" is a pretty broad term. As investments, I think you might be better off in some of the surrounding counties where there is population and job growth, better schools, etc. This helps gain an advantage when you go to sell. Presuming a good market now, it will probably be a good market down the road when you want to sell. Thanks, hope this helps. - Eric Karrfalt, "helping my customers gain a competitive advantage since 1992. "