Will Incentives Be the Deal Breaker in Your Home Buying Proc

prgpfg · Joined: 20 Sep 2006 Posts: 13 Location: Chula Vista

You’ve seen and heard the incentives, all of the perks if you buy a house now. Many builders and sellers offer various kinds of incentives to lure buyers into purchasing their properties. Would you buy their homes if you knew of the extra’s that they are going to give you? It seems that in order to maintain the price of the house, many are using these incentives to move houses and becoming the new trend in the real estate market.

Some examples of these incentives include upgrades like fancy kitchen countertops and appliances. Though used in the resale market, they’re more common in new home pitches where builders feel the financial pressure of empty homes but don’t want to risk further eroding confidence in the market. One of the builders in the Winding Walk community in Otay Lakes is offering a “dream kitchen” package to its potential buyers. Recently I saw a news segment that in a senior citizen housing development, the builder is providing its new homeowners a fuel-efficient hybrid Toyota Prius. Gone are the days where sellers can be selective and were able to be selective in what they wanted to do or not to do. The market today no longer dictates that type of attitude in the real estate business.

Would you buy because of the incentives or would you hold out for a lesser price on a home?

David · Joined: 19 May 2004 Posts: 754 Location: Atlanta, GA

I don't quite understand where you are getting your information, but I see you made a direct quote from this newspaper article:
http://www.santacruzsentinel.com/archive/2006/August/31/local/stories/04local.htm

I see you are posting some helpful information, but you haven't really introduced yourself or anything. Are you here for the backlink value, or are you in some way trying to participate with us here. If so, I hope you will tell us a little more about yourself.

It seems this link in your profile doesn't work, so I will remove it.

m2c · Joined: 03 Aug 2005 Posts: 937

I’ve read articles about this infiltrating the existing home market but have yet to (knowingly) run across one of these.

For those that have had some of this type of deal -- Say in the case of a “free” car
• Does the value of the car show on the HUD-1. I suspect this is in a phantom addendum the broker never gets to see and the real estate agent has told everyone in the sale to avoid mentioning.
• If the broker is clued in, is the adjustment for LTV purposes based on the full retain price of the car, purchased price, or what.
• Who pays the sales tax and is there double sales tax (car dealer to seller of home and once again from seller of the home to the buyer?

I can imagine an unhappy buyer who thinks they put 20% and finds out MI is needed.

chow · Posted: Sat Sep 23, 2006 7:51 pm Post subject:

David wrote: I don't quite understand where you are getting your information, but I see you made a direct quote from this newspaper article:
http://www.santacruzsentinel.com/archive/2006/August/31/local/stories/04local.htm

I see you are posting some helpful information, but you haven't really introduced yourself or anything. Are you here for the backlink value, or are you in some way trying to participate with us here. If so, I hope you will tell us a little more about yourself.

It seems this link in your profile doesn't work, so I will remove it.

So far my only question about all of this "not so original" information is: Your point is?

prgpfg · Joined: 20 Sep 2006 Posts: 13 Location: Chula Vista

I'm sorry, I thought I introduced myself in the beginning when I signed up for the forum. I basically just want to get some informative information on here from our blogs. It might be information that some of you nkow or have seen, but I would like to get it out here for people who have not seen it or don't know about it. Thank you for your responses.

chow · Posted: Mon Sep 25, 2006 11:31 pm Post subject:

Your advice is kind of "well used" and reminds me of reading like a worn out romance novel.

If you tell me you also sell it to unsuspecting people over the internet for $29.95 plus $19.00 S&H I may blow a cog.

Your advice on cleaning methods just about tripped the "Cog Failure Button."

Jenie0109 · Joined: 27 Jan 2009 Posts: 307 Location: chicago IL

thanks for the wonderful advice and tips. really helps.