Presently, builders in the Coachella Valley are lowering prices on current inventories, and this is where you’ll find the best deals today. Having over-built, many builders are now stuck with large inventories of brand new, never-lived-in homes. They are slashing prices and offering additional great incentives in order to sell these new home inventories before year’s end.
I had one client who recently saved about 20% on a $440,000.00 home. I introduced my client to a local builder, and we found a pleasing home design for him that would be completed in early or mid-year 2008, which he decided to buy. Then that same home plan became available from the builder’s existing inventory. By using the combination of a reduced listing price and additional purchase incentives (on existing homes only), my buyer saved about $60,000.00. And he still got everything he wanted in his new home.
So between now and the end of the year, buyers have a great opportunity to get a real bargain. The hitch is that once this existing speculative inventory is gone from builders’ inventories, so are the buying incentives. So if you are a prospective buyer, check out these new opportunities.