Prices are dropping; Finally!! New Home Builders are slashing prices in many parts of the valley on new home construction and most notably specs; completed homes currently in their Inventory.

Specs offer a unique opportunity for the new home buyer. Increasing competition, tightening profit margin and streamlined builder costs are presenting buyers, if not "rock-bottom" , nearing bottom prices for their dream home.

A young professional who works in the east valley (Mesa, Gilbert)I know had been waiting to sell his home. He found a new home in the inventory of a luxury builder who had lowered pricing from $650K to $499k.

Although, the color carpet, and cabinet choice was not what he would have picked. They are at least functional, very high quality and brand new.... and at a $150K savings they are looking nicer and nicer every day. In fact, he told me recently, that those are the exact colors he would have picked. Not one to question someone's opinions.

I had to wonder if $150K savings can change your eyesight and taste?? Just thinking out loud.