Back in 2005, driving past a home under construction was commonplace here in the Valley. During years 2008-2010, many new home subdivisions had tumbleweeds blowing through because we had vacant abandoned homes on the brink of or newly foreclosed in every subdivision around and buyers were only looking to purchase Lender Owned REO’s or Short Sales… It’s taken nearly 7 years, but all reports are showing that not only are the Builders coming back but Buyers are welcoming them with wide open arms! We noticed it in the early spring this trend starting, but today we are helping new families almost daily tour model homes trying to decide which builder is best for them.
This past year, we’ve seen multiple offer bidding wars driving up prices on Short Sales and Foreclosures due to shortages in inventory; which have been making buying Brand new a very attractive option again. What’s also great is the impact it is having on our community with job growth as well!
The photo above is actually of my own home under construction taken just yesterday!
It’s very appealing to purchase a new home again for so many reasons! With prices being competitive- all new, with builder warranty, getting what you want- where you want and not having to settle with regards to layout or options since you pick your own when you build new a great option in today’s market where Sellers are demanding top pricing for their existing homes.
Click here to read the article written by Joel Huston of Integrity All Star Realty which discusses in detail the New Home market here in Phoenix for the last several years.
A lot of Builders are now coming back and making great sales- but they are not all a like…
Most of our agents have worked in the past for local Builders and can help you and your family navigate between them with their sometimes confusing incentives, options, contracts and if you have a home to sell first, we do offer listing discounts to those who need to sell a home first before they buy their next home*** (talk to Rebecca for more details on our trade in program).
Give us a call to help you get started looking for your next Brand New home- we will be happy to help! 480-243-4242
