New Construction In Austin | It’s hard to be a buyer

Want to buy a new construction home in Austin?  It’s not easy.  In fact, it’s a frustrating process that will more than likely continue through 2022.

I’m Dan Forbes, Broker at Forbes Realty and I work with a lot of buyers. Some of them are shocked when I describe how hard it is to buy new construction right now.  Everyone of them is frustrated.  Yet, I am successfully helping buyers navigate through this difficult environment to find their dream home. It’s not easy, but it’s possible.

In this week’s video I explain the 7 Reasons It’s Hard To Be A Buyer Of New Construction In Austin Right Now.  The video goes into more depth, but here’s the 7 reasons:

1. Low inventory. Many buyers are having to wait months just to be able to write a contract on having a new home built. They are told to join the interest list, the waiting list, and cross their fingers.
2. Strong demand.  For every home that is contracted there are scores of other buyers you’ll be competing with.  Some builders create bidding wars among the buyers.
3. Builders are mostly selling only inventory homes.  The builder picks the lot, picks the plan, and starts construction.  Once they get past the framing stage they make the home available for sale.
4. Prices are going up. Some builders release on a handful of homes for sale each month and prices are raised each month. That’s why you can look on their web site and not see prices or find out the prices you see are not valid today.
5. No models to walk through. Gone are the days when you could walk through a model of the home you want to build.
6. It’s hard to get an appointment.  Good luck trying to reach a salesperson by phone. Appointments may be a week out or more.
7. Mortgages rates are going up.  Today, mortgage rates hit 4.0% for the first time

30-year mortgage rates top 4% is today’s headline on Foxbusiness.

Parkside on the River in Georgetown, TX a brand new community.  It’s hard to be a buyer there. But, I have buyers under contract with homes being built.

It’s pays to have a knowledgeable REALTOR on your side. Feel welcome to give me a call.