In the first part of this series, we covered the housing market's current state, which includes the effects of high mortgage rates and limited inventory on the primary market. In part 2, we will delve into some non-primary markets, such as builder inventories of new homes, vacation homes, and the SFR rental market.
Builder
Inventories (New Homes)
Author: High mortgage rates are making it difficult for many
people to buy homes. However, large construction companies offer qualified
buyers low-rate financing to avoid holding onto unsold properties in a
declining market, with various financing options, from fully amortized 20-30
year mortgages to short-term financing options like 5-year fixed or
interest-only 5-7 year mortgages. Cash buyers are also in an excellent position
to negotiate better deals, including lower prices and free upgrades. As a
buyer, it's essential to be cautious of short-term financing options before
deciding. Is it a good time to strike a deal with a well-known builder,
scooping up a new home?
ChatGPT: It depends on your financial situation and what kind of deal you can negotiate. If you are in a strong financial position, it may be a good time to take advantage of low-rate financing options offered by large construction companies...
* To fully explore the rest of the chapter, I recommend obtaining a copy of my book on Amazon. Here are the links:
Kindle version: https://www.amazon.com/dp/B0C7N9CW8J
Paperback version: https://www.amazon.com/dp/B0C7J4X64P
Hardcover version: https://www.amazon.com/dp/B0C7J7D6VH
PDF version (non-Amazon): https://payhip.com/b/7nTyK
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