New Homes In Utah - Turn Slowdown Into Opportunity

You know the old saying, "When life hands you lemons, make lemonade." Utah's home builders are getting a heavy load of lemons being delivered to them right now. An article in this past Sunday's Salt Lake Tribune detailed some of the problems these home builders are currently facing.

For many of Utah's home builders, tough staffing decisions and profit eroding price cuts and promotions are top of mind. For prospective home buyers, the choices and prices are the best they've been for years.

Particularly in the upper price ranges, those above $350,000, some amazing deals can be had. This is especially true about move-in-ready inventory homes. The Tribune reported this about Homes Today regular, Hamlet Homes -

Last year around this time, a common incentive offered by Hamlet - which sells homes priced from the $200,000s to the $400,000s - was about $5,000 in free upgrades. Today, the builder is offering discounts of up to $10,000 on certain homes and an option of no housing payments for four months to buyers who obtain a mortgage through an affiliated mortgage company.

Unadvertised bonuses are also available, but you may have to ask for them. This is especially true of existing inventory homes.

It can't hurt to ask for additional incentives beyond what the builder is offering. It could be a washer and dryer or something bigger, such as an upgraded kitchen or three-car garage. "The best-qualified buyers are a pretty hot commodity to the builders right now," said Gary Cannon, president of the Salt Lake Board of Realtors.

The lowest priced new homes still have a strong demand. Little discounting can be expected in high demand communities or those with new homes priced below $220,000. Still, with mortgage rates that are still near historical lows, the increased choices and incentives make the Utah new home market quite tantalizing for prospective homeowners.

So pour yourself a glass of lemonade and see what the Homes Today builders can offer you.