Eeny, meeny, miny, moe - Builders are offering fire sales in this area for standing inventory if you can pull out Fire Saleyour checkbook and close by year-end.  This is when you make sure your Realtor is working for you.  A Realtor is your best asset in terms of knowing when to buy, when it's a buyers market, when to push the Builders for incentives, and what builder incentives to push for.  Let me repeat:  This is the time of year when the builders will give buyers a better price to unload their standing inventory. 

In the past few years the growth spurred by the Triangle has spawned Builders to continually increase the number of homes being built in this area.  Since inventories have been low and the number of people relocating to the Triangle has been strong there has been no need to reduce prices on area homes.  If you bought a home as recent as this summer the builder was probably unlikely to offer closing costs or a price reduction.  In Here is the scoop on the Luxury Home Market in the Triangle, I provide details on the increase in New Construction and Resale inventory in the Triangle.  Anytime you have an increase in inventory and a move towards a buyers market you tend to have sellers more willing to negotiate. 

Here are a few examples that I've run across just in the past week or so with my clients:

  • Year-end Incentives Avalon Springs in Fuquay Varina, NC $5000 Visa Card for my clients and $1000 Realtor Bonus - Local custom builder
  • Sunset Oaks in Holly Springs, NC $15,000 Builder Allowance for any pre-sales - Another local custom builder
  • Pulte Homes - Sutton Place in Apex is offering 10% off the list price* and the social membership initiation fee to Prestonwood Country Club in Cary, NC
  • McCar Homes & Olde South have been offering 1/2 price on designer options.
  • Drees Homes has over 20 homes that are complete in the Triangle and ready for move-in.  They have not stated the incentives up front but I know a bit about their pricing strategy. 
  • Chapel Ridge, in Chatham County, is offering NO PAYMENTS for 1 YEAR* and 8% Realtor commisssion.
  • Cameron Pond, in Cary, has so many homes for sale that some of the resale homes are being offered lower than the purchase price with custom shutters, surround sound, and other upgrades made at the time of move-in to sell the home.

Generally, as a rule of thumb, our market picks up in the spring time, and with interest rates poised for a possible rate cut yet again today, the incentives and inventory may not last long.  If you have any questions about the promotions feel free to call me or visit http://www.trianglenchomes4sale.com/

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12 Comments on Eeny, meeny, miny, moe - So many choices!!

A buyer ready to write an offer and close by year end will certainly need a top level pro to put everything on the fast track.

12/11/2007 09:28 AM by Dan Cummings - Connecticut's Running Realtor (Raveis Real Estate)

Tracy:  You are so right! I just finished meeting with some buyers who want me to find the BEST deal in town. I'm working on it. I'm writing another offer tonight on new construction that is $90,000 reduced. BEAUTIFUL HOME! If someone has buyers on the fence...this is the time to get off the fence and buy. Thanks for sharing!

12/11/2007 02:24 PM by Elizabeth Nieves - Bilingual Raleigh - Durham North Carolina Real Estate Team (The Elizabeth Nieves Realty Group @ Keller Williams)

Tracy - Never mind Eeny, meeny, miny - just give me  moe. More that is WOW what an opportunity for buyers. Buyers will be putting new words to the song "All I want for Christmas", they will be wanting two new cars instead of "my 2 front teeth"

 

12/11/2007 06:46 PM by Kathy Clulow ASP® SRES® (RE/MAX Scugog Realty Ltd Brokerage)

Kathy - cute comment! All I want for Christmas is my two front teeth, a car, and a house for dirt cheep! That's what I hear my clients saying.

12/11/2007 06:54 PM by Tracy Santrock - Cary NC Real Estate Blog (Fonville Morisey)

Kathy, Very nice compilation of local news..Sellers need this type of new too,,,they need to be aware of whats competing against them ....not only price, but big ads, and even bigger promotions...and NEW NEW NEW....Great post...wish you well ,,,,,,,,,cute hat too!!

PS...I need some info on a South Carolina subdivison were we are aquiring one house and one lot...I will send the info if you know of an reputable agent in .....I want to say Ruthford or somethin like that..I will check back later

12/12/2007 05:40 AM by Mike Norvell Sr., Developers Capital Realty (Developers Capital Realty, LLC)

Great title, great graphic - and, oh yes, great information for consumers in your area!

12/13/2007 09:39 PM by Margaret Woda, Maryland REALTOR (RE/MAX VISION)

Tracy, if you and the buyer can connect on these builder deals what a win for all. I just see too many buyers still cautious despite the deals out there. Hard to explain other than its a psychological barrier. When they are ready I'm sure the deals will be gone.

12/19/2007 11:24 PM by Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty)

Tracy:  Great deals to be had for the savvy buyer who has the good sense to be represented by a Realtor. 

12/20/2007 04:38 PM by Donna Yates, Georgia Realtor North Georgia Blue Ridge Real Estate (Mountain Investments of North Georgia)

Just sold a luxury home where the buyer got 50K off for closing by the end of the year.  No advertising just shrewd negotations based on knowing the market.

12/21/2007 04:44 PM by Tracy Santrock - Cary NC Real Estate Blog (Fonville Morisey)

Looks like the fire sale is still on- I previewed today for a buyer in the $500k range and the on-site agents said "You have a buyer?" "Really?"

05/08/2008 05:52 PM by Tracy Santrock - Cary NC Real Estate Blog (Fonville Morisey)

Today I saw $80k off of purchase price, Lennar was offering wood blinds throughout home, all appliances, closing costs, and $25k off of purchase price! Yikes!

As the market declines the incentives keep growing, even during our high season!

 

07/13/2008 09:58 PM by Tracy Santrock - Cary NC Real Estate Blog (Fonville Morisey)

Thanks Tracy - I'm from the Triangle area originally and it's been good to see ithat relatve to most areas, t's held up well throughout the downturn.  That said, I'm not surprised to hear deals are there to be had from now through the end of the year.  Good Luck!

07/13/2008 10:22 PM by Artisan Custom Estates (Artisan Custom Estates)

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Real Estate Agent: Tracy Santrock - Cary NC Real Estate Blog (Fonville Morisey)
Tracy Santrock - Cary NC Real Estate Blog
Cary, NC
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Fonville Morisey

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Welcome to my Triangle Area Real Estate Blog. This blog provides Triangle Area real estate information and resources to guide homeowners and buyers through the process of selling and buying a house, townhome or even investment property. If you are interested in Triangle Real Estate, please e-mail me here for a personal response! Thanks and let's get blogging!


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