New Builds To Purchase Or Not
I know must everyone on this site buys houses at a discount! I'm just wondering if anyone buys new builds at retail prices in area's that are booming?? I know you buy properties to make money on the buy and not appreciation but it seems like people are making a killing in my area on the new builds as well. I find people getting into bidding wars and houses going up 20-30k on a 140 house before its been a year. I'm feeling out but might jump in and buy a new build for ack should I say it appreciation.
come on now I know some of you have opinions on this ! I just want to know are there some investors out here who buy in booming area's at retail prices to hold and then sell?
It all depends on your market. I can buy one of the last houses usually in a fairly big development for 10% off the FMV because they want to move to the next 1. Around here I've seen a brand new house with a fmv of 160000 sell for 150000 just to move it. Sometimes even more. Builders like KB, Pultie, Ryan will usually discount on one of the last houses to finish the neighborhood.