Dec 07, 2004 -- What to remember when building a home
The once-overheated housing market is no longer overheated. In fact, builders are feeling a bit fearful about sales in many communities around the country. Builders have had to cut the price of homes in the L.A. area by as much as $70,000 in order to sell them. When the market shifts, people who arent having much luck selling their homes pull their homes off the market. But its different for a builder. They must move that house. So, they try to find the right mixture of sales incentives and features to keep houses moving through the pipeline. Several years ago, builders in many hot areas didnt have to offer any incentives. But its all changing now. According to the National Association of Homebuilders, one in three realtors are offering optional items for free. These include flat screen televisions, finished basements and bonus rooms. So, if youre considering buying new construction, make sure you survey the area youre interested in and work on an offer with lots of builders. If youre trying to sell a home that is in a new construction area, just make sure you start with an aggressive price before the market softens anymore. As for the used home market, you tend to get a lot more square footage for your money. Clark prefers used homes because the areas are usually already built up. And remember that if youre thinking of building in a new development and youre promised a swimming pool or tennis community, dont believe it. Builders often promise things that are never delivered when the community is finished. So, until you see it, dont believe it and dont pay for it!
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