A recent downturn in the new housing market has left builders with a huge inventory of brand new single family homes in almost all areas of the country. For Jacksonville buyers ready to purchase a newly constructed home, this is great news.
In order to offload some of these houses, builders are waving all kinds of incentives under buyers' noses. Rebates, upgrades, additions, and new appliances are all getting thrown into the bargain. The latest survey taken by the NAHB indicates that 56% of builders are offering incentives this year.
Despite the general slowdown, David Seiders, chief economist for the National Association of Home Builders says that growth in employment combined with builders' aggressive sales efforts is buoying housing afford ability in recent months. Certainly, the unusual tactics are drawing a great deal of attention and appear to be piquing the interest of buyers who had previously thought they were priced out the of the market.
But before you rush off to snap up a new home with all the perks, be sure to call your local realtor. Using a Realtor to help you negotiate a deal in a market with this much flexibility will save you time and money and could make the difference between buying in a neighborhood that never gets off the ground, and buying a home where appreciation rates double five or ten years down the road.
Who's Protecting You?
First off, many realtors, like myself, don't charge buyers for their services, so using a realtor to get the best deal on one of these newly constructed homes will not add anything to the total cost. What you stand to gain however, is substantial.
With a solid knowledge of the local market, future municipal plans for the area and history of the location, a realtor is valuable resource. Finding out whether or not a home will be a good buy can be simple - just ask.
An experienced realtor has existing relationships with local builders, knowledge of additional incentives and deals the builder is offering and can ultimately negotiate a better deal.
A professional realtor will give you strength in negotiations and help you navigate some of the pitfalls of buying a new home. For instance, some builders only offer you attractive incentive packages if you sign a contract agreeing to use their lender and title company - a choice that could cost you tens of thousands of dollars in the long run.
A realtor is not emotionally attached to a particular property or a particular incentive package. They will be able to tell you straight up whether or not the deal you are being offered will translate into a higher resale value later on.
A builder will have their interest represented and protected by their agent, but when it comes to making the final deal who will be representing you? A licensed real estate agent will protect your interests and help you write, negotiate and review a final contract giving you additional leverage and peace of mind.
