Buyers Market Bonanza In San Antonio

Author:	Lucas Jones
Source:	Homes Discovered
Date:	August 24, 2006

With the real estate market sluggish as a stream of molasses everywhere including Lackland, sellers have now been offering everything short of livestock to entice potential buyers to purchase.  Sellers are offering deals in the San Antonio area so loaded that an infomercial would be impressed.  Popular bribes are no closing costs, no payments for six months, $10,000 towards a pool and etc.  Apparently as much as 75% of American builders are offering incentives.  That is quite an impressive figure.  If I were in the market, I would move quickly. Developers are liquidating everything in order to make a sale.  Some offer free upgrades on appliances.  Others will up the ante and landscape the entire yard and give you upgraded appliances.  It seems the sky's the limit in Grey Forest.  One company is even giving away high end plasma TVs.  Some of the more popular upgrades are kitchen cabinets, granite countertops and marble baths. Often times this is still not enough.  The saavy buyer will want cold hard cash.  Some builders will even cut the price by 5 or 6 percent or help out by offering mortgages at a reduced interest rate for the first few years.  The builders do not want to cut the up-front price as that could have reprecussions as previous buyers become outraged that they overpaid by a lot when the market was hot.  So if you want cash off the listed price you might have to take it through these various creative methods which isn't too bad considering you could still get the price you were asking for.  Lenders are more keen on incentives that add value to the home as it adds equity to their investment.

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