Local real estate company owner David Dion does a nice job summarizing some of the things to think about when buying a short sale or foreclosure here in Arizona.
David Dion: A Few Simple Things You May Want To Consider
One particular note for people who are considering buying a new home was particularly insightful – you might be surprised at how competitive the new home builders are.
“A lot of buyers don’t believe that new home builders are going to be competitive pricewise and it doesn’t take long for that myth to be busted once we walk into a new home sales center and the buyers see the prices that the builders are offering and they see the incentives and the interest rates that are being offered now and it becomes immediately obvious to them that new homes are something they should consider.”
Short sales are here in the Phoenix area for the next few years (at least) and home buyers who think that they might find a great deal on a short sale – might want to invest the time to at least visit a few of the new home communities to compare prices, home warranties, builder incentives and the overall home buying experience.
Have more questions about the difference between buying new or buying a short sale or foreclosure?
Here are just a couple of places that you can start: