Are new home builders offering incentives to buyers?

Asked by Lenn Harley, Maryland and Northern Virginia Fri May 18, 2007

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Leigh Brown, Agent, Concord, NC
Fri May 18, 2007
Honestly, it depends on the price point and the builder. Most of our builders do pay the buyers' closing costs (IF you use their preferred in-house lender, which is another topic in and of itself). If a neighborhood is just coming out of the ground or is in closeout, expect some free options or a reduction in the price of the home. Not much though-since builders will just wait for the next buyer unless they're desperate. Our market is strong and builders aren't giving anything away!
3 votes
Kaye Thomas, Agent, Manhattan Beach, CA
Sun May 20, 2007
I just closed an escrow with CEntex Homes and they offered the Buyer $15,000 toward closing costs and as he was a teacher he also received 3% off the sale price by using their "Hero" program
2 votes
Beth Summers, Agent, Charlotte, NC
Thu Nov 15, 2007
At this time many of the builders are offering incentives to buyers. With the phenomenal growth in the Charlotte area over the past several years, builders have been selling homes with a building time of 6 to 8 months. They have rarely had an inventory home to sell. With the changes in the mortgage industry and the seasonal slowdown, there are some inventory homes available. I have clients who are under contract for a home with a reduction of 50% off the upgrades on this home. The original buyers lost their financing before the home was completed. I also attended a realtor luncheion this afternoon at a home where the builder bought 3 in fill lots and built three luxury homes. One of these is still on the market. The builder has reduced the price below the comparable new homes in the area. This house is beautiful with over 4200 sq. feet and an unfinished basement. The builder will also finish the basement for $30 per square foot. There are definitely incentives!
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