Find A New Home
"NEW HOMES ARE FEW AND FAR BETWEEN"
As you know, new homes are hard to come by because the builders are hard pressed for money to finish them. The good thing is when you find them, usually you can drive a hard bargan and get a great buy on them.
The reason that the builders are building and selling cheap is that when the bad market hit, those that did not go under had to finish the new homes in process or lose many millions of dollars in existing loans for the phase of new construction that they had already commited to with the banks.
Some banks that had to take back construction developments that were in process. They had two choices. Put them back onto the market, "as is" or hire their own contractor to complete the homes under construction. Once they were completed, banks put them up for sale for very low prices.
The problem with the above developments is that they have been committed to a pre-determined Home Owners Association. When that is done, they may be a chance that the HOA will have problems with underfunding. There may not be enough new owners to finance the HOA through dues, etc. There may be "Special Assessments". If you choose to look at new homes, PLEASE TALK TO US, as we have the experience in these matters. We go in and look everything over and then make our recommendations. We also advise the if we suggest you would be OK to purchase a new home, we are not attorneys. We do suggest you have a good Real Estate Attorney look it over, as well.
