The article, Signs point to end of 7-year new-home slump in metro Phoenix, from www.azcentral.com, reports that Metro Phoenix’s new-home market is definitely rebounding from its seven-year slump. And builders started 2016 strong. New-home permits in January were up 57 percent from the same month in 2015, according to RL Brown Housing Reports. Lower prices could be drawing more buyers. The median price of new home fell to about $294,800 in January from $298,100 in December. Housing analysts RL Brown and Greg Burger say Valley builders are offering more lower-priced homes to better compete with the resale market. The median price of an existing home is about $225,000 now. In Pinal County, metro Phoenix’s farthest southeastern suburb, new-home prices start as low as $140,000. And that’s probably why new-home construction there shot up 114 percent last month. The increase in new-home building and sales is expected to continue for the new few years. Brown and Burger are forecasting about 18,000 new homes will be built Valley-wide this year. That will be about a 13 percent increase from last year’s home total. Here is the link to the entire article: http://www.azcentral.com/story/money/real-estate/catherine-reagor/2016/02/26/signs-point-end-new-home-slump-metro-phoenix/80943050/
If you have thought about buying a new home there are a few things to know before you go waltzing into a model home to talk with a builder rep.
1st that is just that! They are a "builder representative" Though lots of them are great people, most deal ethically, they still get paid by the builder and you are just a customer. If you do not know the difference between client vs. customer that is certainly something you should look into. The fiduciary duties you lose as a just a customer may not seem like much until you need someone to give you ALL your options.
2nd is the lack of fiduciary duties. Yes they are suppose to act in good faith. But from personal experience with a client buying a new build, she will even say things would have been a lot different if they had walked in the model home the day before when she was driving the neighborhoods.
3rd is why wouldn't you? If the builder pays the commission why would you not exercise that right? You think you'll get a better "deal" and thats just to the contrary. They builder gets a better deal by not paying commissions and not having buyers know ALL their options. The builder reps just tell you and sell you. Sounds like a painful loss when dealing in the real estate world.
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