{"id":17333,"date":"2020-05-15T12:39:41","date_gmt":"2020-05-15T12:39:41","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17333"},"modified":"2020-05-15T12:39:41","modified_gmt":"2020-05-15T12:39:41","slug":"builders-offer-incentives-to-draw-out-buyers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/builders-offer-incentives-to-draw-out-buyers\/","title":{"rendered":"Builders Offer Incentives to Draw Out Buyers"},"content":{"rendered":"

Builders Offer Incentives to Draw Out Buyers<\/h1>\n
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Homebuilders want to turn buyers on to new-home construction, and they\u2019re willing to sweeten the pot to do so. More builders reportedly are offering discounts or offering free upgrades\u2014like new appliances\u2014or covering closing costs to attract buyers.<\/p>\n

Most of these incentives appear to be targeted at new homes or developments already in the works. \u201cBuilders with standing inventory will seek to sell it as quickly as they can,\u201d says Robert Dietz, chief economist with the National Association of Home Builders.<\/p>\n

Dietz estimates that builders have about 80,000 completed inventory homes ready for buyers nationwide. He also estimates an extra 540,000 homes in some stage of construction.<\/p>\n

Sales of new-homes dropped 9.5% in March compared to a year earlier. Dietz expects new-home sales to continue to slow due to climbing unemployment.<\/p>\n

\u201cThe market is on pause,\u201d Dietz told realtor.com\u00ae. \u201cIncentives will be used to offset prices as we see a surge in unemployment.\u201d<\/p>\n

Builders are offering different degrees of incentives. For example, the homebuilder Drees Homes is offering discounts in some locales, such as $1,000 for buyers who sign a contract by the end of May or an extra $5,000 toward closing costs for those who book a tour virtually or in person. They\u2019re also offering in some markets up to $10,000 toward outdoor amenities such as kitchens and entertaining areas.<\/p>\n

\u201cRight now, we are just encouraging buyers. We\u2019re still here, and we\u2019re open for business,\u201d Alicia Engelking, marketing director for Drees Homes in Houston, told realtor.com\u00ae.<\/p>\n

Neals Communities, selling in communities on the west coast of Florida, began offering to waive closing costs for up to $18,000 on 80 of its homes that were finished or are currently under construction.<\/p>\n

The builder Kenco is discounting up to $50,000 on some of its completed home inventory priced between $600,000 and $1 million.<\/p>\n

Builders like Lennar Corp. and Ryan Homes are reportedly offering $7,500 in closing costs on new homes. Lennar is also offering an extra $5,000 to $10,000 off its selling price in some markets. Its mortgage company is touting 2.7% interest rates on 30-year fixed-rate mortgages for select homes (Freddie Mac reports the national average is 3.26%, for comparison).<\/p>\n

In Wellington, Fla., three builders are offering discounts in a planned \u201cagrihood\u201d community accompanying a 5-acre working farm. \u201cIt\u2019s a buyer\u2019s opportunity to get a great price,\u201d Susan Moguel, Arden\u2019s marketing director, told realtor.com\u00ae.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cHomebuilders Are Now Offering Deals, Incentive on New Construction to Lure Buyers<\/a>,\u201d realtor.com\u00ae (May 12, 2020)<\/div>\n
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\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Builders Offer Incentives to Draw Out Buyers Homebuilders want to turn buyers on to new-home construction, and they\u2019re willing to sweeten the pot to do so. More builders reportedly are offering discounts or offering free upgrades\u2014like new appliances\u2014or covering closing costs to attract buyers. Most of these incentives appear to be targeted at new homes … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17333","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBuilders Offer Incentives to Draw Out Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/builders-offer-incentives-to-draw-out-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-offer-incentives-to-draw-out-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-offer-incentives-to-draw-out-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Builders Offer Incentives to Draw Out Buyers\",\"datePublished\":\"2020-05-15T12:39:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-offer-incentives-to-draw-out-buyers\\\/\"},\"wordCount\":426,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-offer-incentives-to-draw-out-buyers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/builders-offer-incentives-to-draw-out-buyers\\\/\",\"name\":\"Builders Offer Incentives to Draw Out Buyers - 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