Home > Blogs > Mesa, Arizona Real Estate Mesa Arizona Realtor > Mesa, Arizona Real Estate - Teri Ellis - Homes Arizona Real Estate

Buyers Are you Still Waiting to Buy a Home? Did You Know? Builders Are Offering DEEP Discounts and LOW interest rates!

By Mesa, Arizona Real Estate Mesa Arizona Realtor

Real Estate Broker/Owner with Homes Arizona Real Estate LLC

December 07, 2007 09:55 AM

Everyday I receive emails from builders offering HUGE incentives, low fixed interest rates (the builders frequently will buy money at a lower rate in order to offer an affordable int anpricereduced1 erest rate to their buyers). Builders have and are selling off their inventory homes with DEEP discounts.

For instance, I received an email today announcing:

4.99% RATE IS BACK

AVAILABLE ON 30-DAY CLOSE SPECS WITH 5% DOWN

That is just ONE example. I literally get dozens a week. So, if you're waiting for prices to go down, maybe they won't. By the time everything is sold out, prices will go up again as before according to supply and demand.

I just listed a beautiful little home in Apache Junction for $165,000! It's not a short sale, nor is it a lender owned AND the sellers still live in and maintain this property. It'll be grabbed up shortly I'm sure since it is lower by $15K than anything else in that community including short sales and lender owned properties.

Today, 56,506 active listings.

Comments(16)

Comment

Show All Comments

Sort:

Karen Anne Stone

New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX

Fort Worth Real Estate

Hi Teri: Yes, the last thing builders want or need... is to hold another vacant home for another month... and especially so when that takes it into 2008.

Dec 07, 2007 04:13 PM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

You may not know this, but I once bought sight unseen 18 homes from a builder in Mesa. Kinda looks like those days are back!

Dec 07, 2007 10:59 PM

Teri Eckholm

Boardman Realty - White Bear Lake, MN

REALTOR Serving Mpls/St Paul North & East Metro

Teri--It amazes me that buyers aren't out there snapping up the deals on the owner-occupied homes. They often get a better deal as the seller knows the home's history. Something you don't get with a foreclosed property. Good post!

Dec 08, 2007 12:24 AM

M A

Boston, MA

Teri,

You are right... its the old supply and demand. This market WILL turn around and go back up again.

Dec 08, 2007 01:21 AM

Mesa, Arizona Real Estate Mesa Arizona Realtor

Homes Arizona Real Estate LLC - Mesa, AZ

AzLadyInRed

Elizabeth, wow, 18? When/where were the homes located? That's pretty amazing. We purchased our first investment in 1980 and still have them both. Of course it's a giant pain to be a landlord, but we are.

Teri, yup, I know. They'll be back, wagging their tails behind them. :-) Thanks for stopping by Teri, always appreciate your comments.

Martin, I know it will turn around.......then buyers will be clamoring again to buy, buy, buy. In January 2005, we were below 7000 active listings in our entire MLS. Now we're well over 56,000

Dec 08, 2007 01:27 AM

Karen, you're right. Builders do not like to keep paying those interest rates while the home sits vacant. Thanks for coming by and for commenting.

Dec 08, 2007 01:30 AM

Marsha Cleaveland

No longer in the sales business - Glendale, AZ

GRI, AHWD, CNE

Keep the good news flowing! If we can ignite the buyers in this valley, things will turn around.

Dec 08, 2007 09:57 AM

Cynthia Tilghman, Realtor® Onslow County NC Home Specialist

Kingsbridge Realty, Inc - Hubert, NC

Hi Teri,
The time is so right for Buyers, so many great buys and opportunities. They should be knocking our doors down.

Dec 08, 2007 10:38 AM

Marsha, I think the news is good. In Arizona, we do have affordable housing as well as good employment. Why not live here? Thanks, Marsha, for dropping by and for commenting. We learn lots here from one another on the Rain.

Dec 08, 2007 10:50 AM

Cynthia, you're right. Buyers should be knocking our doors down.......we're always available to them. :-)

Dec 08, 2007 01:11 PM

Tom Plant

WINEormous.com - Murrieta, CA

Teri - The incentives builders are offering are astounding. There are truly bargains everywhere. Have you seen this? http://www.cnbc.com/id/15840232?video=561989966.

Dec 09, 2007 02:25 AM

Wow, Tom: If the Donald says it's so, it must be true.. Hopefully more buyers start getting the message. I put this listing on the MLS Friday 12/7, and received an offer on it on Saturday 12/8. Other people are viewing it today, and it'll be gone. Reason why? It's a good value AND I recommend to my sellers they list about $5K above what they're willing to settle for and then don't go any lower. We'll be countering back at that price later today. Everyone goes away happy that way. Amazing market we have now........interest rates are low and sellers are ready to negotiate. Thanks for stopping by.

Dec 09, 2007 07:43 AM

Yep... all part of a cycle.... around and around we go.

(By the way... is that you over on the right singing and dancing.... in red?)

Dec 10, 2007 11:32 AM

LOL, Martin, silly man, that's my alter ego. I'm singing Christmas songs to everyone. Can't you hear it? Thanks for coming by though......I appreciate it. Always like hearing from you.

Dec 10, 2007 02:16 PM

Laurie Shoop

RE/MAX Results - Mounds View, MN

That's amazing. We have alot of good deals available if the buyer's weren't so scared.

Dec 10, 2007 02:54 PM

Laurie, just sold my listing yesterday - in two days. Closed on another one last week. They're coming back, albeit slowly. Thanks for stopping by. Appreciate your comment.

Dec 10, 2007 02:56 PM

Buyers Are you Still Waiting to Buy a Home? Did You Know? Builders Are Offering DEEP Discounts and LOW interest rates!

Comments(16)

Mesa, Arizona Real Estate Mesa Arizona Realtor

Service Areas

Real Estate Resources

Recent Posts