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14 Comments on The Time Is Right For New Home Construction....Find The Lots....Builders Will Come!!
Very good suggestion, Barbara. Though at times, I have found that builders ask for lot more than re-sale inventory - and that's where the buyers feel - it's not worth it. I can perhaps give examples of some of the towns where my buyers prefered to buy a re-sale (not very old house, btw) as compared to new one.
Of course, worknig with a builder directly would help, I think.
Praful.......most will take new over a resale.....they buy a resale because they can't afford new....but if they can find an entry level 2000 sf new home, they'll buy it.....find some lots praful...the builders will call you directly....
Hi Barbara, I have been thinking about this. but after a 6 year crash in Central Florida I think we still have another 2-4 years to go before builders will start again in significant numbers.
Bob.....all areas are different...if you market for lots and price them right, you may be very surprised....
Barb
So right about the new consrtuction. BRing on the lots and the builders will build on them
Hi Tom.....they have a built in sensor to find agents who have lots......and with today's prices, most are looking for single lots.....
One of my 2012 goals, B. I want to expand the territory for our team's reputation of being the #1 listing team for new construction in Norfolk County!
Barbara - Back in the "boom" Bill and I owned a General Contracting company and built homes as well as selling Real Estate. We built probably 75 - 80 homes in about 5 years. Back then you could build for less than you could buy a resale. We were lucky smart and didn't get burned and stuck with an spec houses but there are many builders here who did. Because of that, there aren't too many builders in the area who are ready to start building either specs or customs.
It is unfortunate because you're right, lots are incredible inexpensive right now. If they had the available money they could certainly put some vacant lots in their inventory to build on when the market does start to turn.
Merry Christmas!
Cyndi
Barbara, and if anyones looking in NY have them call me, we have the lots and I know the builder, and he's ready to build!
We have builders, and some lots, but we could use more. A good deal of builders stopped after the bust. Now there are only a few left building on spec. the land boufht up durimg the buble is too expensive to build on a those numbers. Some just couldn't get it approved and started fast enough to start before this ahppened. The ones that bought and didnot start don't want to see at the numbers we need to be at. Some are taking a major hit, but will sell anyway, as they have no choice. We do have lots, and builders and we are still bulding on spec here in Newburgh, NY. This is what i do all day. Compare a 30 or 40 year old lovely home that needs updated but well cared for and a brand new 2000 sq ft home. It a no brainer on this one!
Barbara~as you well know, my market is a bit unusual, but I gotta say...it's really NICE having people buying vacant lots! I've just closed on two in the last month or so...one was a cash buyer/investor who's going to build a spec home and will have me list it--DOUBLE YEA!!! He and his builder even sat down with me at my dining room table and asked about what buyers are looking for in a home and I was also able to mention local subcontractors or specialists whose work is excellent and we would keep the dollars in the local community and thus keep his spending down, since we are in a remote area. ALL GOOD!
I also wrote an offer on a lot last Friday that will be a private contract, but an all cash deal that will make everyone happy.
I am thankful this season to see things moving!! It's happening around other areas, too. So, maybe those media folks need to listen to us and know that it's not all gloom and doom in the real estate world.
It is a good time to buy building lots...this time of year is perfect...In just another 30 days everyone puts their "buyer hats" on and there will be more interest in lots...isn't it amazing how so many miss the opportunity of buying at this time of year?
Barbara, This is a timely post. I received a call from a builder last week asking if I had any listing for a lot.
This is an ideal time to start marketing to land owners..... listing lots in 2012 with spring closings by builders is perfect.....direct mail marketing to this niche (land owners) is how it's done..