Buy a New Home in Phoenix cheaper than Builder Cost

September 14, 2008

Phoenix, Arizona experienced a real estate ‘gold rush’ from 2000-2005. There is no other way to put it.

The skyrocketing demand for homes in towns like Peoria, Scottsdale, Fountain Hills, etc… was only matched by the explosion of residential development by new home builders.

In fact, the Phoenix new home supply is one of the leading contributors to our sharp fall in hbuy a new home cheaper than it cost the builderome prices. Many new home communities are overrun with foreclosed homes and most builders have had to slash prices drastically in order to unload inventory of new homes.

As a result, Phoenix home buyers (maybe for the first time and possibly the last) are actually able to purchase new homes direct from builders at or below the wholesale cost to build .

If you are a new home buyer in Phoenix, there are 3 products to look for:

Field Models - new home builder field models are the homes used as sales offices and models. New home field models are the most expensive to maintain for new home builders and are the most expensive to build as virtually every upgrade available is included.

Quick Move-in are homes that are under construction, though not yet completed. Many buyers are backing out of deals for a variety of reasons in the middle of construction.  If you are willing to be flexible with upgrade options (as many have been previously chosen and installed) you can often get a great deal.

Inventory specs - Inventory specs are completed homes that are sitting vacant in the community. These will most often be your best opportunities as they are costing the builder money in monthly interest costs as well as dragging home prices down as supply is increased.

In an Arizona Republic article cited one Scottsdale new home builder, Camelot Homes,  stating that Camelot Homes had sold 4 field models in 12 days for more than $3.1 million.

According to Mark Hancock, President of Camelot Homes for the first time in our 35 year company history we are offering homes at or below replacement cost”.

Visit the Camelot Homes sales centers in Scottsdale, DC Ranch, Peoria, Sonoran Mountain Ranch, Vistancia, Chandler and Cortile in Palm Valley and make sure you preview field models, inventory specs or quick-move-in homes.

This is a trend that we all hope will continue as the absorption of new home inventory is a critical part of the recipe for improving the Phoenix real estate and new home market.

There are many wonderful golf and resort lifestyle new home communities throughout greater Phoenix, Scottsdale, Peoria, Fountain Hills, Mesa, Gilbert, Tempe, etc… that are selling inventory specs and field models at rock-bottom prices.

If you are planning on buying a new construction home in Metro Phoenix do not wait much longer. Not only are 30-year mortgages and  15-year fixed interest rates at 50 year lows, many experts believe this may be ..

the may be the only time in our life that you can buy a brand new home for less than it cost the builder.

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Copyright © James Wexler * Buy a New Home in Phoenix cheaper than Builder Cost *

Contact James Wexler (480) 221-8080 for your Phoenix | Scottsdale area Real Estate needs

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Written by James Wexler · Filed Under Articles, Builders 

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