Since record keeping began in 1963, sales of newly built homes dropped at the steepest pace throughout the country over the course of 2007. New home sales numbers totaled 774,000, which was 26% less than 2006 new home sales according to the Commerce Department. The 9.6-month supply of new home inventory for sale is a record. Since the July 2005 peak, the sales of new construction homes have plummeted 57%, and permits for construction have dropped nearly 50%. New home builders are rapidly cutting production which will help reduce the housing supply throughout the nation.

The DC Metro area is one of top hot spots for new home builders because of the high paying salaries and strong job growth. So what does this mean for home buyers? Well, for starters, the glut of new construction homes in Northern Virginia and Washington DC are breaking builders’ banks. It is a prime opportunity for savvy home buyers to scoop up good real estate at highly incentivized (apparently not a word according to spell checker) prices! Deals that were unheard of for the past 5 years (such as 6% home buyer incentives and 2 BR+den new condos in Arlington VA for $339k) are now available in highly desirable areas of Northern Virginia real estate. Many people remain pessimistic about the current DC real estate market, but the way I see it… how does the saying go- “one man’s loss is another man’s gain”… builders are hurting, so shoot ‘em while their wounded! (sorry builders). Just like foreclosures- if the seller is distressed, the buyer will be blessed (I made that one up ;).

Right now, I am informing my buyer clients that it is a great time to look for new construction homes and foreclosure homes (I’m a Northern Virginia & DC Realtor in case you didn’t know). With the builders’ incentives and highly motivated bank foreclosures, I’ve seen some pretty good deals recently that a lot of resale homes cannot compete with. Unless a seller purchased their home prior to 2003, they most likely won’t be selling their home for a profit (after selling costs) and will have less room to negotiate. That being said, if you are looking to buy a home and would like a professional to help you locate some good new home construction or foreclosure deals, give us a call at 1-888-998-ZILL (9455) or sign up for our free foreclosure list at the top of the page.

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I came across this Centex Homes-Year End Saving Event ad in an email I received today. The sale includes brand new featured homes and town homes all over Northern Virginia with low prices and big incentives. You will typically find the best builder deals towards the end of the year (when builder’s need to hit certain numbers for their books), and when a community has only a few homes left. This particular sale includes homes in Ashburn, Gainesville, Lansdowne, Bristow, Stafford and Stephens City.

Call us at 888-998-9455 for any questions or if you would like to schedule an appointment to tour a community. You will receive an additional 2% cash back from your HomeZill agent if you decide to purchase any of these homes- but you have to call us before you visit to receive the extra 2% incentive! See info on the specific homes here.

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So I came across this ad the other day that caught my eye… We’ve gotten a few emails asking us to blog about new community specials as they emerge. Below are some communities from Comstock (no affiliation with us) that are currently offering big incentives. Always make sure to read the fine print regarding mortgage payment figures. Often times the numbers displayed are a result of risky loans with interest-only adjustable rates. Unless the builder is offering a special financing incentive, you may find a better deal by obtaining financing from an outside lender. In the current buyer’s market, most builders allow buyers to receive incentives even when not using their in-house lender.

Be sure to give us a call before visiting a new home community so we can register you to ensure an additional 2% credit off the sales price of any new home! 1-888-998-9455

The flyer didn’t come out too clear when I posted it, so if you are having trouble reading the info, you can get a clearer view here and vew their website here.

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J.D. Power and Associates asked new-home buyers how satisfied they were with their overall experience. Here’s how home builders ranked for new homes in Virginia, Maryland and Washington, DC.

Van Metre Homes 127
Centex Homes 123
Del Webb 116
Drees Custom 116
Lennar Homes 114
Ryland Homes 114
Winchester Homes 114
Pulte Homes 111
U.S. market average 111
K. Hovnanian 108

Before you visit at any of these builders’ new home communities in person, contact us to receive a Realtor rebate up to 2% cash back to home buyers for any new construction homes (there’s no catch!). It doesn’t cost you any more money whether or not you have a Realtor representing you on the purchase. However, you will actually pay more if you buy alone– without a HomeZill agent, since you will not receive the 2% rebate (plus HomeZill will negotiate the best price for you). Don’t miss out on this great first time home buyer incentive!

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