Great time to buy a Brand NEW house in the USA

vijay · Post by **vijay** » Tue Dec 18, 2007 10:58 pm

I know this is a no-brainer and every one knows it. I work in the const industry so I have to wave it in your faces, this is a great time to take advantage of buying a luxury home by any home builder, Centex,Toll, Heritage etc. Their stocks are running low and they survive on REITS. Currently they will do anything to get stock off their books even if it means taking a loss. These guys are "motivated" sellers.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a188dludkfjE&refer=home
forget stuff like waive closing costs, they will waive first 3 months mortgage. You can negotiate free upgrades to granite countertops, procelain tiles etc. I wish I was in this market.
I know this from acquaintances in Centex who operate in Houston and Dallas, but the above companies are in many other states too.

venkat786 · Post by **venkat786** » Wed Dec 19, 2007 12:27 am

It's all hype. Frankly, I did not see any real deals in DFW area. In fact, good neighbourhoods are appreciating.

vijay;65597I know this is a no-brainer and every one knows it. I work in the const industry so I have to wave it in your faces, this is a great time to take advantage of buying a luxury home by any home builder, Centex,Toll, Heritage etc. Their stocks are running low and they survive on REITS. Currently they will do anything to get stock off their books even if it means taking a loss. These guys are "motivated" sellers.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a188dludkfjE&refer=home
forget stuff like waive closing costs, they will waive first 3 months mortgage. You can negotiate free upgrades to granite countertops, procelain tiles etc. I wish I was in this market.
I know this from acquaintances in Centex who operate in Houston and Dallas, but the above companies are in many other states too.[/quote]

gurusw · Post by **gurusw** » Wed Dec 19, 2007 12:36 am

Fannie Mae CEO Daniel Mudd told CNBC that he doesn't expect the real estate market to recover fully until 2010.

http://www.cnbc.com/id/22200270

It maybe good time to buy, but with lots of bargaining. If you want some more time, it may not hurt. No need to hurry.

karmayogi · Post by **karmayogi** » Thu Dec 20, 2007 3:29 am

venkat786;65632It's all hype. Frankly, I did not see any real deals in DFW area. In fact, good neighbourhoods are appreciating.

Venkat, yes there are new houses in the DFW area. One of my friends just bought a house that had list price of $429K (4Bed, 3.5 bath,3 car garage, 4200 sq ft with almost half acre of backyard). After all the upgrades,discounts, incentives they are buying it for almost $330K. It was a terrific deal. I wish I bought my house now instead of 3 years ago :emsad:

This is a buyers market. I strongly agree that this is a great time to buy.

r2i_100 · Post by **r2i_100** » Thu Dec 20, 2007 3:32 am

On a side note I got an inquiry from my relative (USC) who wants to buy a house here
( Re -> appreciated) AND (US housing-> down south)= (time to buy):)

smariner · Post by **smariner** » Sun Jan 13, 2008 8:10 pm

Real-estate prices are local; some cities like Seattle & portland started to slowdown just abt 6 months ago. In these cities, I wouldn't look at buying a home for at least 12-18 months, since there's more room for the prices to go down.

funnie99 · Post by **funnie99** » Tue Feb 19, 2008 2:59 am

I second that. Most "stable" cities with good job growth numbers have shown stability in prices and increase ,although little, in prices for new homes. If you plan to stay in house for 5 yrs or more, don't wait and move in as soon as you find what fits your requirements.