Home Buyer Incentives Increase
Builders around the country are sweetening the deal for buyers. Between the summer of 2006 and 2007, the number of builders offering optional items—like a fireplace of three-car garage—at no additional charge rose from 51% to 57% according to the National Association of home Builders. Those offering to pay closing costs increased from 38% to 46%. Offers to trade a current home for the builder’s home jumped from 5% to 17%. Sellers of existing homes are sweetening deals as well. A George Mason University study found that 59% of Washington, D.C., area sellers in 2006 and 2007 offered an incentive to buyers, up from 35% during the 6 years from 1999 to 2005. San Diego MLS listings
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4 Comments
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And to top it all off—soon to be exPres George W Bush will be leaving U.S. with a $10trillion dollar debt to be paid with declining home prices. Give me back Clinton’s 90s balanced budget economy any time compared to the nutz currently running Washington.
Tiffany
San Diego County Real Estate
Home prices will fall up to 50%, the Fed cant keep up wit da jingle mail folks, cutting rates to 0 = 33% inflation. Poor, poor timing. Jimmy Rogers recently called on Blind Ben to resign, a total screw up.
Sean
San Diego california Real Estate Brokers
If you ask me, housing prices and sales will continue to decline. Expect 3 years before the bottom, Commerical real-estate will suffer a steep decline as well.
Rebecca
San Diego Family Dentistry
If things do get really tough (depression like) it will be interesting to see how the generation (X’ers) handle it. I hope that our economic situation doesn’t deteriorate that much but, in hind sight we are probably due for a reshuffling of the status quo…All this said, in a way I think tough times might be good for our nation, free market capitalism has been of limited success, in which the already prosperous for the most part have managed to increase that prosperity disproportionately in relation to the rest of our society. And the current wealth gap is clearly indicative proof of this. Hopefully, no matter what the course and consequences of our current economic situation our country and society will be made better by the challenges presented by it..
Kelly
San Francisco California Lawyer