Bellevue Washington Real Estate News - Bellevue WA Real Estate Investment
Quality local news and information from Bellevue Washington real estate professionals.Builders and Developers offering big incentives to buyers
There was an interesting article in the Seattle-Times newspaper today about the enticements being offered by area developers to potential buyers. To read the article in its entirety please click here. While the Puget Sound region has avoided the steep decline in property values that many areas around the country have seen, anyone who works in real estate will probably tell you their production has dropped substantially. There is considerably more inventory on the market today than this time a year ago and many sellers and listing agents have resorted to lowering prices and/or other creative incentives to attract buyers.
Builders and developers traditionally try to avoid reducing the purchase price in order to avoid the backlash of homeowners who have already purchased a home in the community. No one wants to find out that their neighbor just purchased a home either very similar or identical to theirs for $25,000 less. Instead, builders will offer all sorts of enticing goodies to get potential buyers to sign on the dotted line. These can include free upgrades to higher end finishes, big screen TVs, custom closets, or a buyers bonus to help cover closing costs. Of course, if the home or condo your clients are considering isn’t offering any incentives it does not hurt to ask!
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