Monday, February 25, 2008

NEW CONSTRUCTION...GOOD DEALS ??

I was listening to a real estate radio show and heard the host proceed to advise new construction as a very good deal. I agree with this particular host 90% of the time so I was waiting for the qualifier. . . it did not come. I had to write about this topic, new construction being an option for buyers looking for the "good deal".

It is true that with the building industry having inventory that is "sitting around" you are in the position of power as the buyer. Let's talk about this. If the development is over built and the builder is dropping prices, this means the values are dropping for those that purchased previously, when they thought it was the best time to buy the "good deal". So what to do? You need to ask more questions. How many units will be constructed? Are there more phases to the development? Are you buying one of the first 20 homes being constructed or are you buying one of the last 20? How long has the builder been at this project? What is the projected time of completion?...etc...etc.

As in all things a "good deal" is not always as simple as it may seem, that's how people get burnt. We at JB Realty Service have the experience to guide you through the new construction process to insure the best opportunity for that "REALLY good deal". For more information visit http://www.jbrealtyservice.com. You may contact me at: john@jbrealtyservice.com or call 215-721-6300.