Can Anyone Give Me Specifics On How Bad Home Building Is Doing?
I hear a lot of home builders are going under, yet I do see some homes being built in my area. I am considering buying a home, but I am wary.
I hear a lot of home builders are going under, yet I do see some homes being built in my area. I am considering buying a home, but I am wary.
Homebuilding is down substantially across most of the country and many homebuilders have gone out of business. However, this is the best time in 20 years to buy a home. Interest rates are very low, near record levels and most homebuilders are willing to make deals and sell at very attractive pricing, most offering exceptional values.
Most of the “national” builders that are still around will survive as will many of the better capitalized regional and local builders. Obviously you will wish to fully check out the builder as to reputation, customer satisfaction and financial condition. And you do not want to put yourself in a position where your dowpayment could be in jeopardy or you could be left with a half-built home or one burdened with mechanics liens. Certainly it would be wise to have your downpayment escrowed with your attorney.