San Antonio real estate agent says interest in new homes has increased due to better bargains on the market and increased competition among builders.
Online PR News – 10-March-2010 – – San Antonio, TX – Texas real estate agent Kurt Hudspeth, a specialist in the new home market in San Antonio, sees increased market share for new homes vs. existing homes in coming months due to economic factors.
Hudspeth, who maintains a directory of San Antonio builders and follows the business, inventory, and special homebuyer incentives for new San Antonio homes, says that the economy and real estate market conditions have increased competition among builders.
"This increased competition for prospective buyers, especially given the fact that many experts still believe there is excess inventory, means that buyers are often in the driver's seat."
A number of San Antonio area builders are giving away attractive discounts and extra perks for buyers to boost interest in their offerings, says Hudspeth. He notes that many builders are carrying large loans on inventory that needs to be paid down if they are to survive the drop in new home construction demand since 2005.
One incentive sometimes offered by builders is a lower interest rate than is normally available from traditional mortgage sources.
"Competitive interest rates, like lower prices in general, has served to increase demand for new homes vs. existing homes in some cases, since the builders have the ability to negotiate better mortgage terms with lenders for their customers."
Asked if San Antonio new homes are often a better deal than existing homes, Hudspeth enthusiastically says yes.
"Buying a new home is a dream for a lot of people. It's hard to see a better time than right now to take advantage of the pressure builders face to reduce their inventory. Many buyers have a once in a lifetime opportunity to live out that dream of owning a brand new home."