Lot Foreclosures an Opportunity in 2013
By Reg Johnson
Foreclosed homes have brought the Lowcountry home prices unseen in a decade. The best of these homes were purchased quickly, leaving a less than ideal remaining inventory. Neglect by previous owners, no warranties, bought in "as is" condition have dampened the enthusiasm for these homes.
In the midst of these speculative misfortunes, a wonderful alternative has arisen, the foreclosed home site. These lots are selling for a fraction of the 2006 prices.Many people bought home sites as investments and are not emotionally tied to their purchase.They simply want to cut their losses and get out of lot ownership.This has also forced down the price of all existing lots for sale
You can also purchase a home site now and hold it until you are ready to build without the expense and hassle of owning an existing home before you need it .Building costs are the lowest in a decade and your new home is built to your exact specifications. In addition it comes with all warranties and meets all the new building codes
In 2012 many people took advantage of this opportunity and as a result new home construction increased significantly.This trend is continuing into 2013 but the inventory of lots is decreasing and prices are beginning to rise.
Let us work with your Realtor while there is still time to find the perfect home site and build a new home for a value not seen in years.
Foreclosed homes have brought the Lowcountry home prices unseen in a decade. The best of these homes were purchased quickly, leaving a less than ideal remaining inventory. Neglect by previous owners, no warranties, bought in "as is" condition have dampened the enthusiasm for these homes.
