With the housing inventory reaching record lows, many buyers are left out in the cold. We are seeing multiple offers on nearly every home for sale, in less than a week's time.
How can the typical buyer get their offer to stand out from the crowd? While some sellers are looking for the highest offers, most sellers are looking for the safest transactions. Safe and strong buyers are typically cash buyers or conventional loan buyers who have put more than 20% as a down payment.
Where does this leave the buyers who have FHA loans or VA loans? The best bet for these buyers is new construction. The benefits of buying a new construction are less competition, brand new home with no repairs to do prior to move in, and often, more energy efficient amenities. The disadvantages of buying a new construction are higher cost per square foot of home, possible higher taxes, limited neighborhood choices.
According to the Wall Street Journal, buyers are definitely looking at new construction as a possibility. Nationally, new construction for single family residences were up 43% from last year. Click here to read the article.
If you are thinking that a new construction might be the perfect home for you, call me today to tour some local model homes!
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105