Homebuilders Looking to Deal...

Homebuilders looking to deal, from the East Valley Tribune, reports that it only takes scanning the local newspaper ads to see some new homebuilders are dealing with a softer market in 2006. For many, its the first time in years that they have had to act more like car dealers by offering fat financial incentives. Engle Homes is offering $30,000 in upgrades, Shea Homes is offering new pools again, and Beazer has advertised price reductions as much as $40,000 on selected homes in its inventory. "The builders are back to marketing houses and marketing subdivisions, which they hadn't been because they had waiting lists for every lot they released," said RL Brown. "Things are getting back to normal, not abnormal. That's a positive sign." Some experts see the incentives as temporary and that builders will work through their excess supply of homes in the market quickly as more people move to the Valley. Part of the excess supply is from homebuyers and investors who are now cancelling contracts because home values have stabilized, or even dropped in some areas.



http://www.eastvalleytribune.com/index.php?sty=61421