Home Buying in New Jersey>Question Details

Dma, Home Buyer in Buffalo, NY

does any one know about new construction that is 25-30% down from 2006 prices due to market conditions?

Asked by Dma, Buffalo, NY Wed Feb 4, 2009

you can list builders in trouble?

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Answers

5
Look into some of the development that Kara Homes built or was in the midst of building. There are a few in southern Ocean County that have been taken over by other builders and prices are way down.

Laura Giannotta
Keller Williams Atlantic Shore
0 votes Thank Flag Link Wed Feb 4, 2009
I service Monmouth & Middlesex County which is 30+ miles from NYC so I will let the Northern NJ experts help you out. If you can't find what you're looking for up north and decide to take a look in these counties, give me a call. Best of luck!

Jillian Mason
Direct: 732-586-5488
E-Mail: jillian@jillianmason.com
Web Reference: http://www.jillianmason.com
0 votes Thank Flag Link Wed Feb 4, 2009
I am making a move from manhattan and I am sure (certain) I will capitalize in this market. I have about 5-9 months to look and find diamond house to negotiate a 12th hour deal. I am looking for a area radius of under 25 miles from city. It can be north or south NJ, or Westchester, or long island.

Single fam/ 3bd/2 bath/ finished basement/ sep office space /> .33 acre - < 1.00. house not less than 2k sqft. high ceiling a must. Under 25 yrs old or new preferred but not stuck on. School rating range 8+ to10. Price range is 450-500k all hard cash deal- this is my leverage !! (can close in 2wks and need no financing).

I want my situation to be a golden parachute for seller in this market when they have nowhere else to go.
I have waited for a situation like this and I need your advice to be on same page with me from the start!
( will only get better! YES!)

Best answers and ideas receives my call. thank you in advance.
0 votes Thank Flag Link Wed Feb 4, 2009
Where in NJ are you looking? I can help you in Cape May County. There are properties here that meet your criteria.
0 votes Thank Flag Link Wed Feb 4, 2009
That depends on what quality you are looking for in a home. I know a small builder who has dropped prices over 20%, but the quality of the homes is poor and no one is buying them, which is why prices have gone so low.

Many builders have lowered prices 10-15 percent and are well known companies. For example, Freehold Pointe built by Centex has less than 30 homes left to sell and base prices have gone from mid-800's to mid-600s.

What area are you looking in and what is your price range?

Jillian Mason
Direct: 732-586-5488
E-Mail: jillian@jillianmason.com
Web Reference: http://www.jillianmason.com
0 votes Thank Flag Link Wed Feb 4, 2009
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