Columbia SC A shift in consumer psychology has hurt new home sales in just the past two years. Pre-recession, buyers expected stainless kitchen appliances and granite countertops. The buyers I've worked with recently are mostly concerned about a home that's cheaper to heat and cool. For many buyers, that includes smaller rooms with the old 8' standard ceiling. A 10' ceiling looks nice, but it adds 25% to the cubic volume of the air space and zero % to the living space.
According to the National Association of Realtors new homes are currently 29% more expensive than existing homes due to radical discounting in the existing home market. Foreclosures and short sales accounted for nearly 40% of all home sales in February, 2010! Once a home buyer's dream, new homes have lost some of their appeal. Instead, the fixer-uppers and foreclosures have been capturing the buyers' attention.
Here is a bright spot for today's new home buyers: Some builders are unloading homes for the cost of building the house because the builder's loan for that property has come due. You could end up with a new home for a price close to that of the fixer-upper down the street, and the roof, all appliances and flooring will be brand new. Hopefully you would have very few maintenence issues for years to come.
Contact me for some great deals on homes in the Columbia area
Terry Edwards tedwards@sc.rr.com
New and Existing Home Sales
Columbia Real Estate and Business Report
New and Existing Home Sales Update
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