Drive around Coastal Delaware and you will see that housing is back. Steve and Joan were shocked yesterday by the number of new homes built and sold since they were here last year. Susan and Peter first visited Delaware in 2006 and have been back several times since. Last week, they could not believe how many new homes had been built and how many more are under construction. Choice lots in their favorite communities are down to one here and one there.
Incentives down and prices up
No more Triple Play or half off this PLUS discounts on premium lots. Now the incentives are more like a discount off options and upgrades up to a limit. The better the community and the better the builder, the lower the incentives. Last year additional incentive were added for contracts before the end of the year. This year the holiday incentive might be buy now before the 2013 price increase.
Recognize Opportunity
I know that no one wants to believe a REALTOR who says that now is a real opportunity and its time to buy before it passes you by. But its true and I really would hate to see my clients wait too long to make a decision. Choice lots will be gone along with the incentives. This business might actually return to normal, not the crazy highs of 2005/2006 but normal. With new construction in desirable communities, that means a return to pricing as quoted and all options and upgrades are additional.