Builders looking to move inventory

Mortgage and Lending with Academy Mortgage Corporation NMLS #229617

As the year ends numerous builders in the Phoenix Metro Area are looking to move their inventory.  Even though there is still enough resale inventory and home prices are reasonable, deals on new builds can be found. 

Builders like other companies want to meet end of the year sales goals and are willing to offer substantial discounts or upgrades. Do not expect to get "close out" discounts but do ask about any special incentives.

Builders with a larger move in ready inventory might have unique upgrades and features that apply to a lower number of people. For example adding in swimming pools, keeping the 5th room as a den, or ungraded fixtures.  Also there are a number of move in ready homes that builders could be willing to negotiate on. 

Getting prequalified is also recommended. Having a prequalification letter shows builders you are a serious buyer. It also gives you a bit of leverage. Most builders have an inhouse finance team or a preferred lender. With a prequalification letter the finance team might be willing to match rate or other incentives that are offered. 

With the new mortgage disclosure rules now in affect (TRID, 10/03/2015) closing are taking a bit longer as the market adjusts. Taking the time to do additional home work on builders, subdivisions, and incentives offered could save you even more money. 

We work with a number of builders in the Phoenix, AZ Metro-Area, so feel free to contact me with any questions.

Comments (3)

Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Steve Alonso How much longer are the closings taking these days with the recent advent of TRID?

Oct 12, 2015 03:20 AM
Certified Mobile Notary Signing Agent - Smith Mountain Lake, VA
Highest Ranked Certified Mobile Notary in Virginia

Having been pre-approved by your lender is valuable when negotiating with a builder.   Steve Alonso is correct in suggesting that.   Having a written list of "wants" you hope to see within your budget can be a great reminder while you are touring the models 

Oct 12, 2015 04:08 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Steve - Thanks for the latest information for the new TRID mortgage disclosure rules.

Oct 12, 2015 07:51 AM