New Chicago Homes Incentives

It was bound to start and we predicted that it would happen well over a year ago. New Home builders in Chicago that would start offering great incentives for potential buyers to purchase their homes. Through years of experience working with new home sales there are several things we have learned and some of these are:

New Home Builders Are in the business to sell Homes

New home builders typically do not sit around on standing inventory and price their homes to see what will happen. They price their homes to sell and offer incentives so they can pay off their construction loans which are at a higher interest rate then your typical standard mortgage.

New Home Builders Don't get their advice from the Media or their Neighbors

They hire professionals to analyze local buying trends. They certainly know what is going on in the local multiple listing service and price their homes accordingly or offer new home incentives.

Some Recent New Chicago Homes Incentives we've come across in the past three days

• Brand New Pre-Construction pricing for New Town homes in Crystal Lake in the low to mid 200's. $10,000 Off or 5 discount points when you use the builders preferred lender.
• Brand New Pre-Construction pricing for a new age restricted community in Pingree Grove in the mid to high $200's offering $35,000 in free options when you use the builders preferred lender or pay cash.
• $45,000 off of list price on Standing Inventory for New Town homes in North Aurora
• $10,000 off in options for New Luxury Mid Rise Condominiums in Mundelein priced in the mid $200's up to the low $400's. (This will be a fantastic new condominium development in the heart of the proposed new town center.)

This is only a small sample of the many new Chicago home communities offering incentives to buyers but it does signify that even New home builders in an area that did not have a ridiculous rate of appreciation are doing something to get rid of their inventory.

As a home seller, you need to use Real Estate agents that know what the new home builders are doing to make sure your home can compete for the buyers that are out there.

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