By signing into my site, you can access your favorites from any computer and get e-mail updates when new listings come in that match your recent searches.
July 23rd, 2007 10:09 AM by David W. Welch
I am sure you have heard the old expression "No news is good news." Well, I hope that is true. There seems to be a lot less news about real estate lately. I can tell you this, about a piece I read in our local Realtor association e-zine. There were just over 4,000 new homes sold in the first quarter of the year. At the end of last year there were about 24,000 homes in builder inventories. This is just the news I was expecting (hoping for). That should mean that by the end of the year roughly two thirds of the builder inventory will be sold off.
I believe that once the new home inventory gets down to a reasonable number, builder incentives will drop making re-sales more competitive. It is very hard to go up against the multi-million dollar marketing efforts of national builders. It is especially hard to beat offers like paying all the buyers costs, or putting a Harley-Davidson in the garage. Most sellers just cannot compete with that.