Recently, ForSaleByOwner.com wrote an article, Five Surprising Reasons to Buy a Home Now. It's a great list but not all that "surprising". Don't get me wrong, it's definitely worth reading but I would like to point out some additional reasons which are a little more locally driven.- The inventory of homes on the market has come down drastically in the last couple of years. This is a good indication that we're sitting at the bottom of the market.
- New home builders are building inventory homes again. We are seeing builders like Southern Crafted Homes and Lennar clearing land and pouring foundations. We also have had several builders move in which are new to the area like Home Dynamics and Minto.
- New home builders are offering great incentives. Each builder offers different incentives but we're seeing $5,000 incentives for active military personnel, 30-year fixed rate financing in the 3.5% - 4% range and lots of free upgrades.
- As of September 1st, some of the appraisal issues we've have been dealing with should go away. New regulations will take effect which should stop the undervaluing of homes which have been caused pending sales to fall apart.
If you've been waiting for the right opportunity to invest in a new home, now really is the time!
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