Now is the time to buy new construction!
It is the end of the year and builders are always trying to move product especially if they have move-in ready inventory. Right now there is even more incentive for you to buy new construction before the end of the year as there are additional factors occurring.
One factor is that the sales of new U.S. homes plummeted 8.9 percent in October, as the number of newly built, unsold homes sitting on the market climbed to its highest level since 2009.
Another factor is that Mortgage buyer Freddie Mac said that the average rate on the benchmark 30-year mortgage was 4.81 percent last week, up from 3.92 percent a year ago. This decreases the buying power when interest rates are higher because you have less money to buy a home when you are paying more in interest.
Builders are now creating some awesome incentives to buyers who write a contract now to close late December or early January. Local builder D.R. Horton is offering so many credits back right now on their existing inventory that you will pay little to no closing costs!
In order to take advantage of these great opportunities, you need to make sure you have the right realtor helping you. Call Jack today and let him know how he can help you buy your brand new home at a discounted rate!