By: Bill Panebianco
Home buyers today have many choices they can buy a foreclosure, a short sale or a used home. They can also choose to build a new home; with this there are many more choices to make which I will cover later in this article. Each has some advantages but some may have some major hidden costs involved let’s look at each one and see what you decide at the end.
Buying a short sale or foreclosure sounds like a bargain, let’s look a little closer. The National average to bring a Foreclosure back to good condition is $107,600. These is not counting the selling price of the property and keep in mind that many of these homes are in high crime areas, which will affect the future value of the home. To be a bargain these must really be cheap and all are sold “as is”. Short Sales are complicated in another way as well. The list price of a short sale is just a guess on the Realtor’s part as the bank won’t in most cases disclose what they will accept for the home. Getting an offer accepted is another issue altogether. Many homes in short sale have multiple offers and the bank drags it out as long as a year to get the most favorable offer. You can be tied up for 2 to 12 months waiting and find out the house was sold to another buyer.
New Homes are always the safest bet for value, they come with a warranty and you are not living in someone else’s dream home it can have the options you desire. The first thing to consider is the builder, choose one that has years of experience. Most reputable builders are set up to do “end loans” be very concerned if a builder needs you to take out a construction loan. This is done when the builder had little or bad credit and is not capable of funding the project. Builders salespeople should be licensed Real Estate Agents; some smaller builders try to skirt this. If a builder is skirting state licensing requirements, think of what they do to cut costs when they build a home.
At Adams Homes we have built over 35,000 homes and are going strong. We were started in 1991 by a young Wayne Adams and 22 years and 35,000 homes later Wayne is still the President of Adams Homes. Wayne (with the help of an experienced management staff) oversees all the day to day operations in 7 states.
What you expect when you choose Adams Homes to build your next home:
- Price includes the home site and all permits, prep costs and fees
- Only $1000 deposit needed. We build your home with our money
- Closing costs paid when using a preferred lender
- On site Superintendent
- Licensed Professional Agents at every model
- 10 year limited warranty
- In house Closing Coordinator and Warranty Manager
The choice is clear, Adams Homes offers exceptional value and we know
Price is the Ultimate Amenity. Our homes are priced to sell and built to last. Stop by any of our model locations or shop 24 hours a day at AdamsHomes.com
Adams Homes is known as the premier home builder and is one of the largest privately-held home building companies in the southeast. Adams Homes has built more than 35,000 new homes since 1991 and builds in seven states including new homes for sale in Alabama, Florida, Georgia, Mississippi, North Carolina,South Carolina and Tennessee.
Discover all Adams Homes communities, model homes and homes for sale on our website, here. We have new homes for sale perfect for the first-time buyer, move-up home buyer, who desires to upgrade to a more accommodating new home, and the empty nester who desires to downsize to a smaller home .
While you're at our website, explore our mortgage calculator and obtain financing information.